Welcome to the site malcolm
Thanks for posting about this - it would be good if PayPal could do something about it, but unfortunately the 'real' company such as PayPal are pretty powerless to do anything about it, as spam emails are sent from all over the world, often from compromised PCs where the owner has absolutely no idea that their PC is being used.
Even more worryingly, enough people must be taken in by these emails to make sending them out worthwhile - and they are becoming ever more convincing with each new wave of spam.