Google founders Larry Page and Sergey Brin stepping down as CEO and president
Google’s founders Larry Page and Sergey Brin announced on Tuesday that they are stepping down as CEO and president, respectively, from the company they built.
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Sundar Pichai will be Google’s Alphabet Inc new CEO, according to a statement from the company.
This is a developing story. Please check back for updates.
US STOCKS SNAPSHOT-Stocks fall as trade hopes wane
NEW YORK, Dec 3 (Reuters) – U.S. stocks suffered their third consecutive sell-off on Tuesday after commentary from President Donald Trump and Commerce Secretary Wilbur Ross threw cold water over hopes of a possible near-term respite from the market-bruising U.S.-China trade war.
The Dow Jones Industrial Average fell 279.56 points, or 1.01%, to 27,503.48, the S&P 500 lost 20.61 points, or 0.66%, to 3,093.26 and the Nasdaq Composite dropped 47.34 points, or 0.55%, to 8,520.64. (Reporting by Chuck Mikolajczak Editing by Chris Reese)
Alphabet CEO Larry Page resigns as Google chief Sundar Pichai takes over
Alphabet CEO Larry Page will step down from his position at the Google parent company, leaving Google chief executive officer Sundar Pichai to manage both Alphabet and Google under one role.
Google’s parent company, Alphabet, was created through corporate restructuring in October 2015 and has since become “well established”, Page and co-founder and Alphabet president Sergey Brin wrote in a blogpost announcing the change. The executives wrote it was time for the companies to “simplify management structure”.
“We’ve never been ones to hold on to management roles when we think there’s a better way to run the company”, they said in the post. “And Alphabet and Google no longer need two CEOs and a President.”
Alphabet stock was up 0.5% in after hours trading.
More details soon …
Read the full impeachment inquiry report from the House Intelligence Committee
WASHINGTON – House Democrats released a several-hundred-page report on Tuesday evening detailing the findings of weeks of public and private testimony in the impeachment inquiry into President Donald Trump.
The report describes what House Democrats allege are abuses of power by Trump to pressure the Ukrainian government into investigating Trump’s political adversaries.
Trump is accused of withholding nearly $400 million in security assistance and a White House meeting with the Ukrainian president unless the Ukrainian government announced investigations into Democrats.
House Republicans argue Trump did nothing wrong and released their own 123-page report on Monday to preempt Democrats’ accusations. According to Republicans, the impeachment process has been unfair to the president.
Republican report: House GOP report on impeachment inquiry defends Trump’s dealings with Ukraine
Trump responds: Donald Trump says he opposes censure and impeachment over Ukraine actions
Read the full text of the report here:
Wisconsin special education teacher restrained student who pulled a gun, wife says
MILWAUKEE – Linda Ager was out to lunch with a friend Monday when she received a phone call from her husband, Brett Hart, a special education teacher at Waukesha South High School in Wisconsin.
“He didn’t say much,” Ager told the Milwaukee Journal Sentinel, part of the USA TODAY Network. “He just said there had been an incident at school and that there were rumors that he had been hurt, and that he was OK.”
A city police officer inside the high school had shot a 17-year-old student who pulled a gun in a classroom and refused to drop it, according to police.
The student was taken into custody and was the only person injured in the incident, police said.
Ager said the incident took place in her husband’s classroom.
“There was an altercation between students, and he stepped in between the students,” Ager said.
Jim Cramer’s Dow predictions look way off
Are you worried now, Jim?
Stock picker Jim Cramer, host of CNBC’s “Mad Money,” predicted on Monday that the stock market would avoid a free-fall this month — only to see the Dow Jones industrial average plunge as much as 700 points in less than two days.
“Nothing worries me in the sense of looking for a big sell-off in December, but I’m looking for more reasons for it to go higher,” Cramer said on CNBC’s “Squawk Box” early Monday.
That’s despite increased market jitters over an iffy economic outlook and trade tensions with China.
The Dow fell moments after Cramer’s hopeful comments, dropping 90 points during the first half-hour of trading.
After losing 268.37 points Monday, it dropped more than 400 points Tuesday after President Trump said he might delay a China trade deal until after the 2020 elections.
The blue-chip index was recently off 342.16 points, or 1.2 percent, at 27,440.88, leaving it down more than 600 points since Cramer’s comments.
In the final month of 2018, the Dow plunged by more than 4,000 points as concerns about economic weakness, political gridlock, global trade uncertainty and fear of higher interest rates weighed down on investor confidence.
Sushi, salad recall: Products pulled from Trader Joe’s, 7-Eleven, Walgreens due to listeria
Several types of ready-to-eat salads, sushi and spring rolls produced by California-based Fuji Food Products, Inc. are part of a voluntary recall. The products were at select stores including Trader Joe’s, Walgreens and 7-Eleven in 31 states and Washington D.C.
According to the notice posted on the Food and Drug Administration website, the products have the “potential for product contamination with Listeria monocytogenes.” There have been no reported illnesses from the products to date, the notice says.
“As responsible processors of safe, fresh food for nearly 30 years, we are addressing this problem vigorously and we apologize to those who are affected by it,” Fuji Food Products CEO Farrell Hirsch said in a statement. “We will restart operation only after we have eliminated the cause and the FDA certifies that our facility is once again free of possible contamination.”
E. coli outbreak: More illnesses linked to romaine lettuce, CDC says 67 people in 19 states sick
Pork recall 2019: 515,000 pounds of pork products recalled because they were not inspected