icahn settle their battle over paypal. the dropbox ceo says his company is entering a new phase -- what he calls chapter two. check on her bloomberg top tech headlines. facebook is discontinuing the messenger feature in its mobile app. instead, facebook users will have to download the standalone messenger app that they want to chat on mobile. users will be notified several times before the exchange takes place. this is starting in a handful of european companies right now and will roll out globally. hewlett-packard is willing to to settle overseas bribery allegations. largest fines for a company violating the act. hp says the misconduct was limited to a number of people who are no longer employed by the company. one kinghakeup at lane. the ceo was leaving to become the ceo of sports apparel fanatics. cmo is also leaving. the home retailer has in the valuation of $1 billion. our lead story of the day -- ebay and carl icahn are ending their feud. to spin offted ebay paypal. this will not happen under a new compromise. greed

carl icahn want ebay to spin off paypal. they have a new paypal -- compromise. ebay will add an independent director to the board. in return, icon will drop -- icahn will dropped his plan to add board members. their chapter spoke with the ebay ceo. he asked, will kind of value do you see in ebay working with carl icahn, a shareholder who some view as a bully? >> from the beginning, i have had direct conversations of coral. in all those conversations, he's been respectful and thoughtful. >> respectful, thoughtful, one-on-one. nasty accusatory in public? with himt negotiated so i do not know that is the way he works. >> all i know is that my direct conversations, he has been thoughtful. what has happened in this case is that the vice chairman jpmorgan called me last week. he happens to be meeting with carl on an unrelated topic. spendught that we should more time together. we did over the weekend full we talked on the phone. we focused on not separation, but the fundamentals of paypal cost business. we focused on the enormous opportunities in front of our company.

ebay from paypal. >> it is a no-brainer that paypal should be spun off. i do not think in this case that they should be together. there is no reason they should be together in our opinion. by act, it would be helped management team that is separate and can go their own way. the multiple would go up dramatically, and also, the health of the company would be better. it is going to be an argument. the phoneerviews over and daily letters to ebay shareholders have made his mission abundantly clear to the investing public. he was also not too keen on the leadership of john donahoe. >> skype was going to be sold by think is either naÏve or just asleep at the switch year. n'sthat was mr. icon -- icah side of the story. this is mr. donahoe's. >> the board and i have been looking at these alternatives for the past five years. ebay makes paypal stronger by helping them grow faster. provide more data and to provide a strong financial foundation that will ultimately make paypal more successful as part of ebay, then separate. commerce and payments are converging, not d

leader, and paypal is the leader in mobile payments.ng ours on business and expanding globally and that is the best way to drive sustainable value for shareholders. >> what happens when the next activist, with just two percent of the outstanding shares, shows up and tries to hold you hostage? what will you give him? >> nobody is holding anyone hostage. throughout the process i have been focused on what i believe. which is the opportunity in front of us, believing that ebay and paypal are better together. we have been quite clear about why this is the case and the synergy is strong and getting stronger, and ultimately, i think that the facts won the day in this case, and i think that this is a win-win for the company and a win-win for ebay shareholders. your statement that ebay continues to a valuator teach alternatives. if this is not going to be a spinoff of paypal, what might this be? >> we have been evaluating the alternatives and the board does this regularly every year. we are going to be capitalizing on just what i have been talki

it sounds like there has been a handshake deal to do something with paypal.e bit like carl got something because even if he backed out and said i cannot effect any change, i am out of this thing he would still attack, i think he is not a very good ceo. he had the impression. >> smells like doggie poop at these two guys are suddenly getting along and playing come by yeah. >> i like carl a lot, but i'm telling you weeks ago or maybe even minutes ago in corporate finance time carl icahn basically said he is the worst ceo in corporate america. now he is a great ceo, why hasn't changed. melissa: the dea dealmaker of a lifetime about something else. all right, thank you so much. liz claman is coming up shortly. the dow down 200 points, the market having a tough day. liz: we are all over the market is important final hour of trade, we will be running you through everything. the transports which actually looked pretty decent to the big equity movements. but of course we are live at the nasdaq watching everything have been. let's quickly mention we have one of the top

paypal is a bit -- i like to call them no-brainers. it's a little similar to what we said with netflix. said spinning off paypal was a no-brainer. what exactly made you change your mind here? several weeks ago, you had not spoken to the ceo. it seems you did have a conversation with them. how did that come about and why doe? >> you have asked similar questions. so many questions. with what we talked a lot. have lived with this company for a number of years. a lot of them don't want to see it split up for the following have a-- a few of them feeling that at this point in time, why split it up? -- we are not short-term investors. 7-10 years is the new mantra. the reason they don't want to do it is they feel that paypal will be taken away from them. will come inquirer and pay the premium. they are not interested. this thing has so much potential, why do it now? i think, i'm not speaking for think hehoe, but i also has that same thought. this company is really cheap now. , i can'tdig into it grasp that thinking. -- you don't off have to do

already late with paypal.ch. >> they're investing in square. >> square is the winner. paypal's in a little bit of a jam here. >> you have a big interview, though. >> what will it take for america to continue as the world's leader in biomedical innovation. that is according to our next guest, who's got -- become the senior spokesman for this whole industry. joining us now for a cnbc exclusive interview from the pharma complex is the chairman and ceo of celgene. bob, how are you? >> great to see you, jim. >> you're a spokesman for an industry that a lot of people feel is charging too much for product. maybe because of orphan drugs or new pills that do save lives, but people can't believe the price tag. what do you say to those who say you guys might be gouging? >> well, i think our industry has a proven track record of having such an impact on people's lives. and also a tremendous impact on the economy. you look at the past five years, 50% of the economic growth in america is due to medical innovation. and 40% o

if you look at paypal, i think it is sort the of a no brainer.look at the numbers, they're tremendously compelling. because they proved -- paypal has proved that in the online business, which they have 15% of, normally, they're growing at a very rapid rate and so is ebay -- so is ecommerce. the so they have that. one of the great potentials is the offline business. with the mobile phones coming on, you're going to -- paypal will have the apps on those mobile phones. you'll be checking out, whether it's with apple or samsung, eventually you're going to be checking out and hopefully paypal will get part of that business. i mean, they're not really competing with apple or with samsung. i just want to say real quickly -- >> yeah. >> -- they have about 0% of that now. it just startd with home depot. huge potential around the world, $4.2 trillion. that's what you look at. and i really think -- i continue to think, scott, that the companies should be separated. and i really do believe that john wants what's good for the company. john wants -- the only d

very candid moment talking about the ebay paypal spinoff.re for now and would still like to see paypal eventually be spun off. coming up, we are going to talk about chocolate, caramel, coconut. what makes the highest grossing candy bar? we will tell you next. also tonight, the rock 'n roll hall of fame is turning up the volume with the induction of kiss, nevada him at hall and oates. nirvana, and hall and oates. ♪ >> time now for the scene, where popring you the scene of and rock culture. tonight, brooklyn becomes the rock 'n roll capital. they will be inducted into the rock 'n roll hall of fame tonight, but some of them are not exactly thrilled about the honor. here to ask lane is vice president of programming for in 50choice available million households. sounds like kisses rather mad. why? >> kiss is upset because the entire lineage of the band is not being inducted into the rock 'n roll hall of fame. the original members. >> how many are there originally? groupmembers made up the over various times, but only the four original members are

unfortunately, paypal is not an option. we would like to do business with paypal. a threat?yments for other kinds of activities? >> leaguesafe is a great reminder for fantasy leagues and march madness, most of our engine does not really even know what a sport is. we are considering spinning off into the group payment space. paypal may have recognized that. >> sounds like they have. founder of leaguesafe. tech valuations taking a hit as the nasdaq sees a big end of week selloff. why everybody is so jumpy. ♪ >> last week was tough for tech as major companies like google, facebook, and netflix bore the brunt. 2%.aq down over heading into the open, a look into the selloff. >> nobody really knows what the cause has been. is a of analysts think it correction and stocks that ran up to far, too fast. the names that soul of the most on friday -- facebook, netflix. some of the biggest winners of the bull rally. the 10 worst performing nasdaq stocks rallied 134% in 2013. sounds like a healthy correction. value actions -- violations on the massacre still double the timesf the market, 31

look, long before carl raised the issue of whether paypal and ebay belonged together, my sources are me that those conversations were being had for an awfully long time at the board level that they had come up in the past. the question of whether ebay and paypal should remain together for a long period of time, whether a spinoff was the best row to hoe there. and i think carl's making it clear that he's going to continue to investigate that issue, continue to, as he says, press his case. and i still think in his heart of hearts he believes that ultimately those companies are not going to remain as one ebay, that you will eventually get to the point where they are separated in some form or fashion, and he clearly made that point in our interview just a little while ago. >> it's ironic that one of the newest auction sites, ebay, is the target of an activist investor and one of the oldest auction companies, sotheby's, is the target of another activist investor. sue makes a point that maybe there's a climate of engagement on the part of some companies with activists, but not so in the ca

if you judged it on the money it makes it would be called paypal not ebay.ir b&b this thinghat allows you to stay a house while you are away. i saw a reported estimation of $10 billion. i always wonder whether these valuations make sense or not. >> there is undoubtedly somebody, the head of a hotel chain just heard you say that and health a dagger in his or heart heart. they have invested a new industry. and they are starting to bump into the same kinds of legal trouble that uber has been bumping into when it comes to the limousine business. they just got permission to just sort of openly advertise listings in san francisco. up until now people who were subletting out their place were in theory in violation of their contract with their landlord, and by jumping over those kinds of hurdles, they have really created this whole other secondary market where people who are renting a place in the world's most expensive cities get to make some money back, so i think the inventiveness is what is paying off. >> i know in new york and san francisco, a lot of people are

i think it is a really smart move. >> paypal is a mobile payment system.ly rival the best of the mobile payment systems. >> without question. i think it has been the leader for a long, long time. he made, the points and it is an interesting one, it is tough right now to recruit the top talent at ebay because people want to go where they are seeing lots of growth, and they are seeing lots of momentum in the stock price, and the stock has had some challenges over the course of the last year. cory johnson joining us, as well, for more respective, and i was just saying, as you try to recruit the top talent, you are doing that in large part with stock options in the valley, and it has been a rather challenging year for ebay. ebay,, when you look at uc two things. there is this commerce business ,hat is still doing wonderfully and you see them being rebranded as paypal buildings. you see people coming out of school with great computer computing skills of a looking them. you see that business growing fast. is not a recent trend. ebay versus amazon is a good way t

paypal isn't sitting idle though. the company continues to expand its reach into mobile payments. paypal tells us they will debut an apf for samsung's smartwatch, and you can't talk about disruptive companies in this space without mentioning square, the new tech site in which nbc news group is a minority stakeholder. reports say apple and google have considered making acquisition offers for jack dorsey's startup. beyond processing transactions, there's also a lot of innovation going on when it comes to paying your bills. menlo ventures says the firm is investing in a company called check. download app and you're reminded when the bills are due which you can pay instantly so no stamps, envelopes or checks. the company has already raised $50 million from investors and finally there's apple. recent comments from tim cook indicated that apple could launch a mobile payments platform of its own. the move would make sense, say analysts for ale, given the huge amount of commerce that already goes to its ios devices. back to you. >> josh lipton, very good stuff. appreciate it. >> up next,

watch paypal. paypal, maybe this is one of carl icahn's -- they got to get more focused paypal.oaching on them quickly. >> do you think that if they were an independent company, they would be more aggressive not only defending their turf but expanding their market share. >> i had mallinckrodt on the other day, a different industry, lost in the shuffle of ka individualen. now mallinckrodt spins off, stock higher. why did mallinckrodt do it? the ceo says we didn't get the attention, kind of the love at a big company. i think paypal needs to have its butt kicked here. the way you do it, put it out there. >> so you're in favor of -- it's funny because, of course, we follow the icahn/donna who fight to personalize, ebay versus mr. icahn, evolved into this important debate but nothing that had to do with separating paypal but having venture capitalists on public boards. >> i thought that was a shame. >> that's interesting but not about arguing one way or the other. ebay has been strong at firing back at mr. icahn including why they don't think it makes sense. he hasn't articulated the

carl says he would like to see paypal be spun off. he will have these conversations with management, privately, as opposed in the public arena. >> when you say that they both came to the conclusion that it was best to take this out of the public domain, and i had the same thing from donahoe this morning, it leaves me wondering why. carl icahn has never been afraid of a public fight and to wage a public campaign, in the case of dell, four months and months with no sign that he is tiring of the whole thing. iswhat is interesting, eric, that ebay shows no signs of tiring. it was an interesting story to be covering because both sides were in it to win it. and you don't always see it. you might see an activist come out swinging but sometimes the company tries to get along, a little bit better, and this is a company and this is a ceo, john donahoe, who came up almost as hard. >> might things have worked out differently if carl had made more money on the stock? we know that he started to build his position in early january when the shares we

and, carl icahn--- has backed off his proposal for ebay to split off its paypal unit. even though, he still thinks it's a good idea. ebay fell 3 percent to $54 dollars. as the stock market tumbles... prices at the gas pump are surging. the average for a gallon of unleaded gasoline rose a nickle during the past week to $3.61. the national association of convenience stores' jeff lenard has the latest gauge of consumers. what we found in the last few months defies what we found previously. people are feeling the same if not a little bit better about the economy, even though gas prices are going higher. lenard says its because americans are becoming accustomed to the spring transition in the gas industry that will eventualy lead to somewhat lower prices by may. general motors is taking a billion dollar hit. it will spend 1.3 billion dollars to cover costs related to it's recall of more than 2.6 million vehicles. the recall revolves around ignition switch issues. gm says it will add an ignition lock to all recalled cars. those parts begin arriving in dealerships today. desp

paypal i like.sed about the need to spend. it's pretty obvious that -- auction value, decline of 9%, david, in the united states, they used a term i never want to hear on a conference call ever, competitive dynamics. david, they're competing. we like monopolies, like utilities that buy each other this morning. we like exleen buying helpco. >> we do have a fairly large deal in that part of the world. i'm looking for the press release. probably not going to find it jim. >> i have it memorized don't worry. >> you have it memorized. >> they are -- the combination here, between pepsico holdings as you said and excel lon acquiring pepsico, is acquiring the -- pepco at this point. rate base of $26 billion all cash consideration, 2725, which is representing a 24% premium to pepco holdings price on the 25th. >> the beginning of a new wave. >> they're doing value. i don't know. we see continued consolidation in the energy sector. >> pepco is joining the old baltimore gas and electric. they fill in delmarva pe

e bay which owns paypal or just bring tree. thus the unknown and its main competitor the top are now both owned by e bay creating some concern that the job could be cast aside. with the duo continues to add new features like it so called nearby payments which allows users to set up a bit so when in close proximity. even if you don't know them. that's whats been going competition with companies like square which is popular for retailers. i laugh loud. i had an on market evening mike and i knew that they can beat that now david and i found him about it for them. mobile payment of duties attempt to out maneuver one another with new features. and then customers will see what those things. the go lifestyle. our view cctv services. and folks that's it for us to forget will be back in nineteen days in time for me to start the new business and financial headlines to ctv news is also on facebook twitter as well as constantly michael wanted to see and bounds. the judges long tradition of baking with cuts and it's based on the beach the f

the iphone 5s with new different features like using your fingerprint to pay with paypal. >> you canour fingerprint and go to millions of mobile merchants across the world and actually pay with your fingerprint. so no stumbling with your phone number and typing a p.i.n., no stumbling with email and password. you really just hit pay with paypal, swipe your fingerprint. >> reporter: samsung is also putting pressure on apple to come out with an i watch. samsung is now selling two new watches that sync with the phone. >> there's a lot you can do. you can get notifications and all the communication that happens on your phone you can get access to that on the small screen on your wrist. >> reporter: but apple may not bite. and samsung may have to worry about another tech giant, google. >> samsung is going to face a lot of competition with android wear, the operating system that google just announced for mart swatches. >> reporter: even musician will- "i"-am said he has a watch that replaced his phone. >> this is the phone. >> reporter: really, only time will tell. in san francisco, i'm kar

there is no central bitcoin like paypal. everything is distributed. it's something that gives more power to the people. and this works on basically they will take ten minutes worth of transaction so i will send a bitcoin to my mom and whoever will be sending bitcoin and all of the transactions are floating in the namespace. and then in the meantime there's people running programs on their computer that basically check the transactions across the network. so the way that they do this is called the block chaining that bitcoin gives to the world. that's the way that you don't need a central authority. it is a large ledger that tracks transactions. so if i were to say that i have one it would say okay you have fewer bitcoin from fred and he got his from bob and so it's like okay you do have a bitcoin to send. the key is valid. i will send that to you. so the way that they do that is if they race to find out which one is going to solve the puzzle. so imagine a very large puzzle and the only way to solve it is for a minor to through random numbers in the pu

icahn said he would drop his campaign to add two board members and force paypal to spin off. and bill gross says that mohammed el-erian should've come forward about his role as a head plunge manager. >> this is not indicative of what this company is, what this company was, or what our company will be. >> he spoke to trish regan. he says that el-erian's departure was a mystery to him. you can read the full story in "bloomberg businessweek" on newsstands and online. >> thank you. u.s. stocks declining today, nasdaq falling the most since 2011 as earnings season begins. for more on what is happening, i want to ring in the chief executive officer -- bring in the chief executive officer of a company, and also from new jersey, i have chad from a company overseeing about $150 billion. chad, i want you to start us off. is there a specific reason for today's selloff? >> there was the chinese traded data as well as concern over the euro. market -- the european market. although the united states market hit a pothole in q1, the vix is doing quite well, to take an example, with the jobles

paypal vouchers, linked in premium. they're trying to lure you in. onone is trying to remain top. >> interesting strategy. david, chancellor merkel is set to visit greece today. she is expecting a little different reception that you got last time. >> could be a little bit at her. -- she'sare a lot more going to meet some smaller start up companies and some medium-size enterprises. handle blatt is reporting she's going to announce the formation of a greek-german development bank. we will be hearing more from david throughout the morning. we'll watch the asian markets as well. stocks fell from a nearly three-month high following the renewed tech selloff in the united states. we also saw chinese inflation stay below the government's 3.5% target. that could be interesting heading into next week. we get gdp numbers from china next week for the first quarter. could that be the weakest quarter of growth for china since 2009? that is something that markets are watching right now. what also they watching? >> selloff in asia and the u.s.. isa going to carry th

and how much will this be about paypal?the stock has not acted well for over a year, and it's because it's caught in a bit of a limbo. paypal is doing great but also seen to be in a very crowded space. nobody knows the future of payment. everybody wants a big piece of it and i also think after carl icahn stopped his activist campaign, which i thought was a poorly chosen up, it left with, okay, what's the next thing to get this going. >> quit point though, think icon and paypal. having paypal inhouse when there's so much desire for this sort of action has to give you more organic growth and if they make a disposition of that asset for profit, don't you have more upside? >> dom has more from the earnings reports. >> interesting, we've been talking about taxes, tax inversions and arbitraging the tax system and ebay said they brought back $9 billion worth of foreign cash. they repatriated that cash to the u.s. market. as a result of bringing back $9 billion, they took a $3 billion charge so, again, ebay is saying that they have

free applications and paypal vouchers. the fight is on to remain top dog in terms of market share. >> these two stories linked together in my mind. yet the amazing evolution of the smartphone which is gone from a really clocking difficult device , the final form factor of a device we're looking at. you have is really aggressive rise up. look at the stock prices and now they're struggling to make headway. >> they are sacrificing profit. >> if you look at the stocks that have taken a hit, it is stocks that are based on high-growth. , they areonal stocks not the stocks that have been hit over the last couple of months. if you have a debt on high-growth -- >> you just normally is so to freebies with cereal boxes and washing powders. discussing a portfolio. look, he said, what will the e in the u.s. q have any effect on how many twitter users there are? >> these are high risk stocks. that is why the selloff. it is not because they are linked in any typical way to what the market is doing in that way. i don't-- if facebook are s

it is not like central authority like paypall. everything is distributed. everything is peer to peer. it is something that gives more power to the people. and this works on a -- basically a minor will tighten minutes worth of transactions. ten minutes, people making transactions. awesome the bitcoin to my mom, you know, however. all of these transactions are sort of floating in the bitcoin name space. and then in the meantime there are people running programs on their computer that basically check the transactions across the network. so the way that they do this is something called the blog chain. when she mentioned in the opening speech. the block chain is the thing that bitcoin gives to the world. that is the way that you don't need a central authority. and a blocked drain is basically a very large ledger. it tracks all of the transactions says day zero of bitcoin creation. so if i were to say, have one bitcoin it will say, okay, you get your bitcoin from fred, fred data from bob, bob got it from where the bitcoin was meant to. okay. you do have a bitcoin

want to compete with paypal. that is nice.ne of the things they do, they made a lot of money up front and made a lot of money through knowing a lot about people that use it. and it is -- melissa: that is essential difference. that is not what is going on in twitter. >> market something 99% of the business models of all these things. those are pretty big plus for facebook. twitter does not have the sort of information hub where it can market various products out to people. melissa: meanwhile, just to complete the circle, interesting to see amazon going into the smartphone business. some people are saying. that is crazy. it is hardware. it makes sense if they thought you would use your kindle to be connected with everything amazon and that is not working out. next thing they do is try to sell awe phone? are you buying into it? >> no, i'm not buying into it. the actual phone makers all struggled. that is a very tough business. that is not highly profitable. melissa: amazon will not make money on the phone. they will try to captur

. >> so would it be pay pal but for -- paypal but for necessarily individuals and smaller businessespeople just creating a payment system? >> so, paypal really is sort of invented this space and still very much the leader in person-to-person payments. venmo takes an angle that makes it a social experience. we find a lot of millennials are attracted to it. >> we have to leave it there. i'm sorry. bill ready, chief executive of braintree and venmo. this is "taking stock" on bloomberg. ♪ >> this is "taking stock" for friday, april 25, 2014. i'm pimm fox. for a look at today's market moving headlines, i want to go right to my radio co-host. >> thank you. amazon stock plunging today as much as 10% after the c.e.o. told investors that his spending binge is not slowing. company expenses rising 23% during the last quarter. limiting profit to 23 cents a share. amazon also forecasted a loss for the quarter. a fourth round of cuts since 2010. the third largest custody banking is going to reduce expenses to combat the impact of low interest rates. and the potential fail to general electric. this

paypal, you can use at least for bitcoin, you could definitely use. we know people have taught tesla's in the past. at home.ould do it people go into the dealership and talked to the people there and then i tend to mull over a car purchase for a good six months to a year. when they're finally ready to pull the trigger, they can do it online. >> what is the disadvantage to this motto? >> you have to wait. you will not just go out and point to a car and drive it home. a lot of people say, it is convenient and you can come in and leave with the car the same day. the average transaction takes 6.5 hours. that did not take 6.5 hours. luxury buyers are used to buying cars. they have exclusive premium options and tesla fits that model permanently. it is a much simpler process for most buyers. class given the consumer satisfaction for auto dealers, are you surprised it took this muskfor someone like elon to come along? >> unless you are a small independent making weird cars like teslas, -- >> or german. the first car i ever bought was direct from audi in germa

quarterly, paypal which has been real driver of this stock, paypal net total payment volume grew by 27%, obviously that is something that carl icahn thought, tom done owe joseing spin that off and came to agreement -- tom done owe hoe. david: when you see the current price under $40, will you go in and buy tomorrow? >> definitely. if you look at twitter and look at the stock compare to facebook, twitter has two significant levers to pull and drive growth. one being audience. they materially have a smaller audience than facebook. second is monetizaton. they're early stage in both efforts. i think there's a lot of opportunity ahead. hopefully they over near term they get the user growth accelerated. i'm very bullish next 12 months over twitter. >> at this point, twitter is at 52-week low, tom. >> it opened incredibly strong, liz. i think if you look at it in that regard, that was the big difference in the initial performance of ipo versus facebook. liz: yeah. >> i think the stock's attractive here. liz: all right. david: by the way, ebay, are you buying ebay too. >> i do. the question on

we put a paypal button on our website not thinking anyone would donate.within three weeks, we had enough to shoot more of the script. audience that wanted to see the stories continue and they were willing to help us make it. i think we have a stronger voice in the digital space because the stakes were incredibly low. there was no market entry or telling women that you can't pick up the camera and shoot in the house. here, i get to be everything i want to be. reduce her, actor, writer, entrepreneur. following some of the other opportunities, i would've had to choose one or the other. biggestwill be the mobile of the digital space ever, but i could be something that somebody 20 years younger than he grows up with and that woman did that. i could do that. it's a possibility and i could be the rupert murdoch of the digital world. or steven spielberg. breaking into hollywood, but not by the conventional mission ones.ventional good for her. onember, you can carry finding today's news on our website. if you would like to reach me and the bbc team, you can find u

. >>> a proposal that ebay split off the paypal unit.nd he's withdrawing from the board city. >> ali velshi is going to be talking about the crisis in ukraine and more with christine lagarde. more on aljazeera america. it took nature thousands of years to create the louisiana wetlands, but in the course of 70 years, they're starting to go away and disappearing. it's part of climate sos. and a zoo gets a makeover. the price tag in just a moment. >> welcome back to aljazeera america. i'm del walters. these are your headlines at this hour. the president will be in austin, texas today, attending a civil rights summit at the lbj presidential library, marking the 50th anniversary of the civil rights act of course the president is delivering the keynote address this afternoon! >> one of the victims of the high school stabbing is speaking out. one of the victims is disappointed with the suspect, alex rhibal. the investigators for the malaysian 370 are narrowing the search. it's now ten times smaller than it was before senate. >> in our continuin

amazon, paypal. so paypell e-mail, user name. if technology were in the planned of bad hackers, criminals, all kinds of things they can do. basic level, track people through space and time. >> reporter: i want to emphasize, he is an ethical hacker. not trying to fly around a drone and get everyone's information but saying, look, this exists. this flaw exists. we can put this on drones and do all of this stuff. protect yourself. turn off your wi-fi and wants to raez awareness and oftentimes they get into trouble for even putting this information out there. >> turn off your wi-fi. the take away. thanks. >>> coming up, education secretary and former college basketball standout arne duncan go one on one on the most controversial issue in college sports. >> this one's very, very personal for me. the priorities, incentives, way out of whack. so ally bank really has no hidden fees on savings accounts? that's right, no hidden fees. it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um...

paypal vouchers, linked in premium. they're trying to lure you in. top. >> interesting strategy. david, chancellor merkel is set to visit greece today. she is expecting a little different reception that you got last time. >> could be a little bit at her. but they are a lot more

just as paypal transformed online payments years and years ago, i think facebook it in a similar positiondy have facebook connect buttons and like buttons throughout the web to bring out the same simplicity, but online payments. one click payments on any site, that is usually disruptive for the payments industry. i think facebook is in a grid position, but there are a bunch of other companies as well. when compared to apple, apple has been much more closed and will only happen on apple devices whereas facebook is it a great position to do this across any platform. >> has heartbleed changed anything? it has made me think twice. >> talking about the risks. valid point. i haven't thought about it for five years, and suddenly, it is a real risk. >> is exciting report were hardware like apple -- and software, but the fingerprint engine, they have a huge impact on people's trust and security. doing away with passwords that relies on a fingerprint. the hardware and software combined in the hole experience can be potentially more secure. there's a lot to be said for the closed an integrated appro

recall in his position vis-À-vis paypal and ebay that he made a fact-based analysis. >> john brings upt. this has been the same argument that bill ackman has had regarding herbalife with every single person all along. line up against me, pound for pound, i have done my homework. have you? >> how about fact-based management? >> carl icahn would say that he did present a fact-based case. in his letters to shareholders he laid out his argument. he made an argument, persuasive or not, that is the eye of the boulder, but it was certainly based on fact. >> i don't think it was as rigorous as a lot of the other types of facts. at carl icahn's track record. does he need to prove rigorous, fact-based work? look at those numbers. >> he did a great job with bio junk. he brought that company back and did very well. but anyone can pick up the facts and find someone they don't like. he actually tried to split the board. one of the key points is you have to build your board chemistry in advance for years. you have to have them unified. why are we doing this? what are we doing? you need unification on

one key is called your public key and this is your paypal ebell a dress.this key you can give to anyone who you want them to send you bitcoin so they will have this key and they will send funds through this public key but when you are creating -- it's two sides of the same coin so when you create this public key you also create a private key and this private key you use to unlock all the funds sent to this public key. if you give anybody a private key that could very well steal all of your money. and so you can look at a minor over there. that's one of the models i built. there is no central company of bitcoin. it's not an authority like paypal. everything is distributed and everything is peer-to-peer. something that gives more power to the people and this works on a basically a minor will take 10 minutes worth of transactions so in 10 minutes people will be making transactions. i will send the bitcoin to my mom and whoever will be sending bitcoins in these transactions are floating in the bitcoin namespace. in the meantime there are people running program

is this payments, something that's more of a threat to paypal?hing we see mobile companies in other parts of the world getting in on, or is this actual banking where they would need to be a bank company? >> official details haven't been released yet, a preliminary phased experiment but from what we understand facebook is getting into a peer-to-peer volume exchange system. i could send you money. you could send me money. this has been an extremely popular money. mobile banking is huge in the developing world in places like africa and india where people don't have access to a lot of traditional banking services and facebook has more than 1 billion members. makes a lot of sense for them to try to do something like this. >> richard, can you comparify what a bank is versus a payment company? >> well, think about when you -- >> wouldn't facebook still need to use a bank, right, to affect these financial services and payments? >> yeah, they would today. however, if they entered the traditional bank system where they received the positive in bank loans a

. >> today he also dropped his proposal to split off ebay paypal unit. he had to say about the truce heard around wall street today. >> we got a couple of things that i think are very good for us and for the company. we spent, as you know, many hours john and i together and i think that john has something that you real will fuft have if you're a great ceo or good ceo which is passion for the company. i realize that in talking to him. i think this company has tremendous potential. >> he, of course, talking about john donahoe, the ceo of ebay. icahn declared the end of the proxy fight a win-win. >> for more, a partner at zamansky and associates. us what your view? >> activist investors used to try and shake up a company to help the investors. they're just trying to shake down somebody for their own benefit. in the case of ackman, he tried to beat up on herbal life while he's short. >> carl icahn and some others are in these stocks for longer than people give them credit for in many cases. wouldn't you agree to that? in many cases they do increase sharehold

we saw that ebay -- it is paypal that is making the money. >> go out there and make some money yourselfyou will need it to run your air conditioner. we'll be back with a localness update.

-- my understanding is that peter thiel was interested and after he invested -- he had co-founded paypal think other investors thought -- >> don't want to miss that one. i would love to see his deck. i would love to see the investor deck to convince these people to write checks. >> we do have a statement from clinkle which i should read about andy rendich leaving. they say, "we are adding users by the week and remain focused on hiring. we wish him the best in his future endeavors." we wonder if this thing is ever actually going to -- >> it is not available to the public so these are beta testers that they have. until they can get a product on the market and maybe a year from now we will see as a big success, but right now they are struggling. >> all right. thank you. we will be right back after this quick break. ♪ >> out with the new gold and in and do a lot of money and power. when the things she suggest we do to really drive is to disconnect from technology and our devices from time to time. i asked her if it is will you follow >> i saw one headline about your book is less leaning more

you can even use paypal to pay for it. >> i spoke with the president of the new jersey coalition of automative retailers. it was a lively debate. >> they have lots of options in new jersey for retailing cars. i'm puzzled by the obsession in the media with making a victim out of tesla. tesla is not a victim. their own victim of bad decision-making to enter new jersey and a number of other states where direct retailing is specifically prohibited. if they find themselves in this fire drill. it is a problem of their own making. there are lots of ways for them to go to market in the state of new jersey and elsewhere. you said it. this is america. it is supposed to be a free country. aat is the problem with manufacturer making a product and selling it to a customer who is willing to buy from them directly? >> framing it as tesla has a consumer choice issue ignores the bigger mcmoran question of consumer protection. these laws aren't in place to -- these lawss are in place to protect consumers. the statute in new jersey that has been there for the last decade or more provides important consumer prote