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April 29. 2014 7:41PM

New Hampshire Business Newsreel

Summit focuses on internships

MANCHESTER — Stay Work Play aims to retain more young talent in New Hampshire through internships at its first Talent & Internship Summit.

The nonprofit group’s summit will take place at Dyn’s headquarters in Manchester from 8 a.m. to 3 p.m. on May 22.

Stakeholders will develop a “Statement of Principles” incorporating best practices for internships from businesses and higher education. The goal is to increase placement and quality of internships through a more collaborative and consistent statewide approach.

The morning agenda includes panel discussions featuring students, practitioners and executives from New Hampshire businesses and higher education institutions. The event will conclude with breakout working sessions to brainstorm and develop principles governing internships in New Hampshire.

“Talent retention is of critical importance to the future of the state’s economy because businesses like Dyn rely on the talent pipeline for our workforce needs,” said Gray Chynoweth, chief operating officer at Dyn and summit chairperson.

The summit is hosted by Dyn and free to attend. Find more information and to register, visit stayworkplay.org/work.

EBay’s results top Wall Street targets

SAN FRANCISCO — E-commerce giant eBay Inc. forecast a smaller-than-expected second-quarter profit on Tuesday and will take a $3 billion non-cash tax charge to repatriate foreign earnings that will more than double its available U.S. cash.

Shares of eBay fell 3 percent in after-hours trading despite the company’s higher-than-expected first-quarter profit.

During the quarter, eBay took a $3 billion non-cash tax charge to access $9 billion in foreign earnings. The move will boost available U.S. cash by about $6 billion, up from $4.4 billion of cash and cash equivalents at the end of March.

Some investors were expecting an even larger first-quarter beat after activist investor Carl Icahn ended his campaign to force eBay to spin out PayPal earlier this month, Wedbush Securities analyst Gil Luria said.

EBay’s revenue rose a slightly better-than-expected 14 percent to $4.26 billion. PayPal, eBay’s fastest-growing division, posted a nearly one-fifth increase in revenue.

Reuters


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