Bloombergs European Headquarters in london. Our top story today, twitter Ceo Dick Costolo paying the price for the social Media Services lack of user growth. Costolo will step down and jack dorsey will return to take charge temporarily. Caroline, this came really as a surprise. After hours, the share price went up. Caroline they seemed to like it. The share price spiked as much as 13 , all because this man is relinquishing his power. He will step aside on july 1. Hes been there since 2010. He did achieve all that. He took twitter to the market. Sensational valuation. Since then, the share price has more than halved. More than 50 wiped off its valuation. Therefore, he is bowing out. He leaves 60 million stock awards. He does remain on the board. Some of the things, he decided that he wanted to move away from twitter and find someone to take his place. They now have an interim ceo who comes riding to the rescue. Jack dorsey himself, the cofounder. 2008, he was ousted. He has moonlighted
Stocks after starting out looking like it was going to be a rough week. Well see how friday finishes out but things are flat right now. Jack dorsey heading back to the helm of the company. Hell going to run things why they try to find a replacement for dick costolo stepping down on july 1st. Shares did pop on the news yesterday afternoon and you can see theyre up almost 5 in the premarket and as we said we will be talking more about that in a little bit. In addition alstom is defending General Electric deal to officials. The french Engineering Group is trying to sell its power business to ge. Reports of a statement of objection from the European Commission did not prejudge the outcome of the inquiry. Retalked about this on the show but they suggested qe needed to offer bigger concessions to win eu approval it needs to pay for an expanded recall of cars. In other corp. Gnat news we just talked about blackberry may put Google Android software on one of its devices for the first time. Reu
Apparently isnt addressing the question of her parents. And her race. Stephen tschida, abc7 news. Alison the naacp issued a Statement Today calling for respecting doziers privacy and said ones racial identity is not a qualifying criteria or a disqualifying standard for naacp leadership. That story of course is the focus of the question of the day. What is your reaction to this . Go to our wjla Facebook Page to join if conversation. Well share a few of your responses later in this hour. Johnathan . Jonathan more importantly, what people are feeling is hot. Hot, humid and hazy. This weather gives your full attention. If you are in air conditioning and you walk outside, the next thing you know you are drawning in your sweat. Lets bling in storm watch meteorologist steve rudin to talk about this. For most people this is just take necessary precautions but other folks you have to be careful. Steve we have been here for two minutes. Its hot out here. Surrounded by concrete makes it feel hott
Concern over the greek debt crisis. We are seeing a go for safety in the bond markets. We are seeing money moving into japan and germany. Meanwhile, money coming out of italy and spain. Is it because we saw an injection of supply into the markets yesterday. Money coming out of spain. Interesting the desk interestingly though, greek has started coming down again. Still, not a sudden run for the asks it sudden run for the exit. But is have a look at the s p market. Not one of them is more expensive than the ferrari. They make seats for the airplanes. The delays continue. They have been hit by strikes. Jpmorgan saying look the french are opening a criminal investigation into the crash and the french alps. With tons of says they do not know anything about it. Jonathan the dax off let us get out to asia. Sherry, a volatile week. Shery asian stocks rebounding. These last days erasing the kleins. Still on a erasing the kleindeclines. Stocks ending the week lower by 2 10 of a percent. Leaving
Bloombergs European Headquarters in london. Our top story today, twitter Ceo Dick Costolo paying the price for the social Media Services lack of user growth. Costolo will step down and jack dorsey will return to take charge temporarily. Caroline, this came really as a surprise. After hours, the share price went up. Caroline they seemed to like it. The share price spiked as much as 13 , all because this man is relinquishing his power. He will step aside on july 1. Hes been there since 2010. He did achieve all that. He took twitter to the market. Sensational valuation. Since then, the share price has more than halved. More than 50 wiped off its valuation. Therefore, he is bowing out. He leaves 60 million stock awards. He does remain on the board. Some of the things, he decided that he wanted to move away from twitter and find someone to take his place. They now have an interim ceo who comes riding to the rescue. Jack dorsey himself, the cofounder. 2008, he was ousted. He has moonlighted