Paypal | featured news

Shares in eBay jump almost 8% after the online auction site's Paypal unit said its revenues would double by 2013.

Online payment service PayPal said it has suspended the WikiLeaks' account that the organization used to collect donations.

Internet-payment provider PayPal said its iPhone application contained a security flaw that could allow a hacker to access users' accounts and has rushed out an update to correct the problem.

EBay Inc was sued for at least $3.8 billion on Tuesday by a Connecticut company that accused the online auctioneer and retailer of infringing six patents to develop lucrative payment systems such as PayPal.

EBay's profit nearly quadrupled on strength in PayPal and the core marketplace business as well as a $1.4 billion gain from the selling a majority stake in Skype.

Federal authorities say Pavel Valkovich got into hot water after an informant helped them arrest him for a PayPal scheme. Valkovich did the natural thing and tried to hire a hit man to kill the informant.

EBay CEO Donahoe pledged to accelerate changes in its slowing online auction business and tap the "enormous potential" for growth in its PayPal business.