Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Who would've expected Google to become anyone's subsidiary? But that's what happened Monday.
Google announced a new corporate operating structure, creating a new company, Alphabet, that will count the Internet giant as a subsidiary. Sundar Pichai, currently a senior vice president in charge of Internet businesses, will become CEO of Google. Current chief executive Larry Page will take the same post at Alphabet and run the company with co-founder Sergey Brin.
"This new structure will allow us to keep tremendous focus on the extraordinary opportunities we have inside of Google," Page wrote in a blog post Monday.
Alphabet will become the company's publicly traded entity starting in the fourth quarter, breaking out Google unit earnings in quarterly results. All shares will convert into Alphabet stock, with the two classes continuing to trade under the tickers GOOGL and GOOG.
Google's Class A shares jumped more than 5 percent on the news.
Alphabet will contain businesses "far afield" from the company's core Internet products—including Google X, Fiber and Life Sciences, Page said. Google in recent years has funneled money into projects such as drone delivery, self-driving cars and health systems.
"Fundamentally, we believe this allows us more management scale, as we can run things independently that aren't very related," Page wrote.
Both Chief Financial Officer Ruth Porat and Nest's Tony Fadell will report to Page. Video service YouTube will remain part of Google. The website for Alphabet is now listed as abc.xyz.
Google last month posted second-quarter earnings of $6.99 per share on $17.73 billion in revenue, an 11 percent increase year over year. Class A shares have climbed about 20 percent this year.
Here's how some Twitter users reacted to the news: