We talk with the founder of code for america, who was in the room alongside techs heavyweights for the first meeting of the American Technology council. But first, to our lead. Travis kalanick is officially out as ubers ceo, resigning from the company he cofounded. Kalanicks resignation comes just a week after the board announced he would take a leave of absence following months of scandal and employee exits. However, the pressure did not come from the board. Instead, in a rare move, investors pushed kalanick to step aside. After all of these investors poured more than 15 billion into uber, a Company Worth 65 billion. Caroline hyde broke down the news with our bloomberg tech reporter Eric Newcomer and nimay mehta, a partner at the lead edge and investor into uber. Eric kalanick had hoped the leave would satisfy critics and give him time to recharge after the death of his mother, and sort of, somewhat take responsibility for the findings of the holder inquiry. But then it clearly was no
Cnn staffers who talked about russia, russia, russia have resigned. And the tweet to bring already republican no votes. Vicepresident pence has a dinner to pile on the pressure and telling the republicans you may never have a better chance to improve health care, get it done. You add it up and the president s standing seems to be improving. The left, oh, dear, looking increasingly deficit. The granny over the cliff ad goes way over the top bringing violent imagery to the Health Care Debate and nancy pelosi says the Health Care Bill will kill hundreds of thousands of people. Senator al franken says its 2000. Trump will being up, the left in disarray. Varney company about to begin. All right, big Corporate News out of europe. Google fined 2. 7 billion, the european commission, theyre the finers, so to speak, ruling against google saying it abused its power by promoting its own shopping Comparison Service at the expense of at the top of its search results. The stock will open down just a
Good wednesday morning welcome to squawk alley. Im Carl Quintanilla along with sarahiz sarah eisen. First up, the president tweeting about jeff bezos thinking that the amazon Washington Post sometime referred to as the guardian of amazon not paying taxes, not new news. He criticized bezos for his purchase of the post during a speech in texas. I have respect for jeff bezos. But he bought the Washington Post to have political influence. And i have to tell you, we have a different country than we used to have. We have a different we owns amazon he owns political influence so that amazon will benefit from it thats not right and believe me, if i become president , oh, do they have problems theyll have such problems jason, we have the president of the United States targeting one of the soontobe richest men in the country and one of the richest men in the world. How important is this to bezos, to the post and to amazon . Listen, donald trump makes an extremely valid point. If it was 2008 amaz
Higher one and a quarter percent. Im glad you cleared that up. Me too. Kbupg after the bell. The results of Bank Stress Tests and a number of dimpbd and buyback announcements could follow well tell you what to expect. Bid up again today big moves there lets get to the market move today. The dow, s p having one of their best gains in two months the financials leading the way there, the nasdaq is the big leader with a gain the biggest game percentage wise here lets get to the Closing Bell Exchange right now leah bennett from Westwood Trust is with us today good to see you my friend. And Rick Santelli checks in from the see me in chicago. Rick, i want to start with you because yesterday we talked about this taper tantrum that the european treasuries had had after mario said, you know, used the word reinflammation instead of disinflation, and the ecb had to walk that back today. You know, those yields havent given up all the that much as a result of that, have they . No, and that really is
How much healthier the Financial System has become, the Federal Reserve gave the biggest u. S. Banks the green light to use their extra capital for stock buy backs and more dividends. Good news for investors looking for extra income. Kayla has more on the final results of the Central Banks socalled stress test. For the First Time Since the financial crisis, the Federal Reserve has not rejected any of the capital plaps submitted by the 34 banks getting stress testing, b finding the companies to be sufficiently capitalized while weathering a recession. Capital one is required to resubmit its plan within six months or risk shareholder payouts getting frozen. It exceeded the threshold, but didnt want adjusted returns before the results were out last thursday. American express did the same as one of its capital levels was below the fed threshold. Senior officials said the rapid growth in credit card balances and uptick in delen quincies that included more severe losses played a role. Am ex