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Steve Ballmer says he and Bill Gates recommended Nadella as Microsoft CEO, praises his performance

“Former Microsoft CEO Steve Ballmer says that he and Bill Gates recommended current CEO Satya Nadella to the board, and he is not surprised he’s doing a great job” writes Jordan Novet for cnbc.com. Nadella has succeeded in changing the way the financial community views the company, Ballmer said.In a recent interview, Bloomberg’s David Rubinstein asked Ballmer if he was surprised when Nadella was chosen to be the company’s new leader.And I was glad he got the job, because he’s done a great job.”.  Source: cnbc.com Share This:

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Thyssenkrupp investor Elliott demands appointment of new ‘external’ CEO

“FILE PHOTO: Thyssenkrupp’s logo is seen close to the elevator test tower in Rottweil Thomson Reuters FRANKFURT (Reuters) – Thyssenkrupp should replace Guido Kerkhoff as chief executive with a new external candidate, activist investor Elliott Associates told the company’s supervisory board” reports businessinsider.com. Kerkhoff was installed as acting chief executive following the resignation of Heinrich Hiesinger earlier this month. Source: businessinsider.com Share This:

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Trump’s tariffs could derail Volvo’s production plans in the US, CEO warns

“The Swedish automaker Volvo’s $1.1 billion investment plan in the U.S. could be jeopardized amid rising tensions in global trade, the CEO of Volvo Cars told CNBC Thursday, calling for a “de-escalation phase” in the rhetoric over tariffs” writes unknown author for cnbc.com. President Donald Trump has repeatedly announced import tariffs against other countries in an attempt to reduce the U.S.’s trade deficit. Source: cnbc.com Share This:

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Cisco stock shoots up 3% after Amazon officially denies that it’s going to become a competitor

“Amazon Web Services, the retailer’s cloud computing business, has officially denied a report that indicated the company was going to produce its own networking equipment that would compete with Cisco” writes Rachel Sandler for businessinsider.com. Some analysts were skeptical of how much Amazon could damage Cisco’s core business, especially among the large enterprises that constitute the company’s core customers. Source: businessinsider.com Share This:

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Google’s CEO says the EU’s record $5 billion antitrust ruling could ‘upset the balance’ of Android and be a huge win for Apple

“The Google CEO said the EU’s decision ignores the fact that Android has to compete with Apple, and the choice the mobile operating system offers billions of consumers around the world” writes Jake Kanter for businessinsider.com. In a blog post, published soon after the EU punished Google for abusing the dominance of Android, Pichai laid out the reasons why the company will be appealing the decision.He said the decision made by Margrethe Vestager, the European Commission’s competition commissioner, risks upending the Android model. Source: businessinsider.com Share This:

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State Street Global Advisors CEO says it’s active management’s time to shine over passive funds

“Cyrus Taraporevala, president and CEO of State Street Global Advisors, called the state of U.S. equities a stock picker’s market at CNBC’s Delivering Alpha conference in New York on Wednesday” writes Anneken Tappe for marketwatch.com. The State Street boss pointed to fixed-income, along with emerging markets, as areas that tend to benefit from hands on management compared against passive investing. A recent shift away from active and into passive investing has been driven primarily by both the lower cost and historically better performance of passive funds. Source: marketwatch.com Share This:

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Crisis of the Week: TP ICAP Stock Price Takes a Hit

“TP ICAP said it is facing costs relating to Brexit, regulation and technological security” writes Ben Dipietro for wsj.com. TP ICAP, the world’s biggest interdealer broker, lost more than one-third of its market value on July 10 after the company revealed it faces higher costs and announced the departure of its chief executive.What failings led to the higher costs?. The stock price is up slightly since the announcement, closing on July 16 at 274 pence ($3.63) after ending July 10 at 269.3 pence ($3.57). Source: wsj.com Share This:

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EasyJet has flexibility to convert more of A320 order to larger A321neo: CEO

“EasyJet has ordered 30 A321s so far” reports businessinsider.com. Lundgren said a decision on potentially converting ordered A320s to A321neos would be made “later on,” without elaborating.FILE PHOTO: An EasyJet Airbus A319 commercial passenger aircraft takes off in Colomiers near Toulouse Thomson Reuters FARNBOROUGH, England (Reuters) – EasyJet has the flexibility to convert more of an order for Airbus A320 planes into larger A321neos, the chief executive of the British low-cost airline said on Wednesday.EasyJet still has 122 A320s to be delivered from a previous order, and could covert some…

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Texas Instruments CEO steps down over code of conduct violations

“Texas Instruments shares fell 2.2% after hours, following a 1.1% gain to close the regular session at $115.80” writes Wallace Witkowski for marketwatch.com. TXN, +1.08% shares declined in the extended session Tuesday after the chip maker announced that President and Chief Executive Brian Crutcher is out because of code of conduct violations.Additionally, Texas Instruments said it plans to report on July 24 second-quarter earnings of $1.40 a share, with a 3-cents-a-share tax benefit that wasn’t included in the company’s original guidance, on revenue of $4.02 billion. Source: marketwatch.com Share This:

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Goldman Sachs Names David Solomon C.E.O. as Blankfein Plans Exit

“Then came the financial crisis that hobbled the banking industry, followed by a return to robust profits in 2009” reports nytimes.com. Blankfein’s first full year running Goldman Sachs, the firm brought in close to $1 billion per week in revenue, thanks largely to its stock and bond trading. Source: nytimes.com Share This:

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