out to travis kalanick's hometown. that is when they made the amil michael.st travis kalanick has been his that's been by his father's bedside who is still in serious condition. involved in aas couple of other scandals. they believe that he is the fall guy for a week board that couldn't take action on its own. the other two scandals i'm referring to, number one, the information reported a story l michael went to an escort bar. that was reported by a female employee, the other incident involved a rape case in india whereby an uber employee had obtained the medical records of --s big them, and we report air newcomer reports that travis mil michaeld e believed there was a conspiracy going on that there competitor perpetuated the idea of a conspiracy that perhaps the rape didn't happen or there was some sort of distortion going perpetuated that story. i mentioned the cultural values under scrutiny, again, the report by eric holder, the rewriting of cultural values, they are having a problem with partying and alcohol. what

travis kalanick has a lot to deal with right now, but it's not like you're ripping all the travis kalanick roots out of uber right away. >> you have an entire company that is made in one man's image, and on the one hand, he was instrumental in growing out this revolution in getting around, a $70 billion company, most valuable private company in the world. but at the same time, because the company seems to so clearly have been made his image, it allowed some of the dark side of travis kalanick to be represented throughout the company in ways that were hard to take out. and i think that was part calculus here-- in order to extract the toxicity of the workplace, you sort of of have to cut the head off the snake. >> glor: jack ma is the founder and executive chairman of alley bawb athe giant internet marketplace. now he is focused on harnessing america's small business to meet the demands of china's exploding middle class, the largest in the world. charlie interviewed him this week. >> the world changes so fast. i worry a lot, the artificial intelligence may take a lot of jobs away. and i worr

what does uber look like without travis kalanick? who could fill this void >> that's a great question the thing about uber is it is so intertwined with travis's personality, his -- he is uber he is really the person who is largely credited with bringing them to the size they are today. operating in hundreds of cities, dozens of countries. i heard different names floated publicly i have not heard of serious candidates just in my reporting in terms of who the board is talking about for ceo. one of the other conditions was to immediately call a board-led ceo search that's on the agenda now >> great stuff, mike thanks for joining us on that story. mike isaac from the "new york times. >>> breaking overnight, saudi arabia's king asking the sitting crown prince, his nephew, and putting his son, mohammed bin salman next in line for the throne the saudi all share is up on the news his son seen as someone who is a reformer, modernizer and the market has liked that change up 4%. let's bring in the head of commodity strategy at capital markets.

travis kalanick. after months of internal turmoil, investors from the ride sharing company forced kennellic's departure in a contention meeting in a hotel tuesday. he had come under fire for creating a toxic culture many felt within the company and his own personal conduct. kalanick will remain on the board and retain voting rights though this remains to be seen. mike isaac of the "new york times." from washington derek thompson of "the atlantic" and here in new york max chafkin of bergs -- of bloomberg businessweek. pleased to have them all here. max, this may have been the biggest news week of all. >> this is pretty stunning in sense that travis kalanick had full control of the company in almost every way. he was c.e.o., had voting control and board control so he had to be the one to decide to step away and it was something pretty much unthinkable some months ago. >> glor: he had board control till he didn't. >> that's right, they slowly started turning on him over time. i think the problem for a lo

travis kalanick leaving his post. he has played a starring role in many of the company's biggest controversies, including this video showing an argument with the driver about pay, published by bloomberg. what does today's news mean for leadership at uber and beyond, and what legacy will travis kalanick leave behind at the company he helped build? and michael wolf. shira, quite fascinating. travis was a visionary. he also was divisive. what are we going to be seeing in terms of what this means for very few other entrepreneurs having this sort of legacy? we had bill gurley, one of the key investors in uber, say this is something we should be talking about. shira: i don't think we know what uber is going to look like without travis kalanick. for better or work, -- worse, this was a company made in his image. uber needs to figure out who its leader is going to be and what does the company look like without this powerful ceo and cofounder leading the company on a day-to-day basis. you are right. i think this is a wake-up c

jeff: so it will he led by somebody other than travis kalanick. but travis kalanick was uber. derek: that's right. he was responsible for the company's bottom line, the revenue, and the culture. in many ways, the revenue came out of the culture. this incredible relentless focus on improving the culture -- product and making sure it was growing, growing, growing, allowing him to get away with this behavior, which we now know is pretty heinous. it's a remarkable story, because uber is an astonishing accomplishment. the largest private company in the world. $68 billion in value. it made $20 billion in revenue last year. globaln enormous colossus of this new emerging culture, and how people got around, not just in the u.s., but around the world, but to get there there was a brewing culture that was toxic. it will be interesting to see what uber will be like without travis. jeff: big revenue, but the company is still losing money. max: yes, still losing money. that's one of the things we should all be paying attention to. and derek is uber, right, it is big and impressive. but i do

what do you make of travis kalanick stepping down? david: i think travis kalanick needed to step down. clearly, uber has committed tremendous errors and really offended the world in so many ways, that they had to come up with some sort of reset. thinkingnic to me, that somebody like travis kalanick, clearly an opportunist and very aggressive and the visionary, but not a very ethical or morally minded person, should take his cues from zuckerberg -- whatever you say about him, he is unbelievably ethically and morally centered. he is a unique character. it is very dangerous to think if you are starting a company you should model the way you do it after the freedoms and powers that zuckerberg got because he really had the capacity to live up to those powers. stewartvery responsible -- steward of facebook. the things you hear about happening to uber you never hear happening about facebook. the worse you hear is that they do not have enough women executives. i know that is real and something you care about, i care about it, but it is nothin

quickly mentioning travis kalanick, he is gone? iam mentioning travis kalanick, he is gone? i am not surprised. the thing about uber is... it is a driverless company, but interestingly, a lot of investors are divided. they say, look what happened to apple when steve jobs was let go. that was when apple really started to grow. travis kalanick has been criticised for his aggressive tone, but it leaves them with a huge vacuum at the top. thank you so much, lovely to see you. thank you for your company and have a great day. we will see you soon. hello, there. we saw the peak of the heatwave on wednesday afternoon, with temperatures across southern britain soaring into the low to mid—30s celsius. it was 35 degrees recorded at heathrow, which was the warmest day of the year so far, but also the warmestjune day since 1976. wales also saw its hottest day with 31 degrees recorded in cardiff. further north, though, it is a little bit cooler, and we start to see a thundery breakdown developing, particularly across northern england and west scotland as we head into wednesday evening.

what happens to uber without travis kalanick? >> well, right now, i mean, they're going to continue operating as they have they already had sort of in place a leadership team. he was taking a leave of absence so they've already sort of kind of geared up for this. i think the bigger picture though is what it does to the valuation, to the whole idea of the company. a lot of the earlier investors still think of uber as travis kalanick's company anyway. so for some of those early guys, i think they're still kind of coming to grips without travis kalanick company anymore that's the big question mark >> what's happened to competitors like lyft in the meantime as all of these confusing stories have been swivelling, as uber's been kind of focused on its own internal issues they've been picking up market share, right >> that's a good question. but i've actually been surprised that lyft hasn't taken better advantage of uber's troubles right now uber still leads, you know, in terms of riders, and drivers, there's this sort of network effect

travis kalanick has resigned as to investors turned up the heat. what will his absence mean for uber's business? let's have a look at where european equities are trading just under 30 minutes to the close. i wouldn't equities in a second. i want to look at sterling volatility. we have seen the pound spiking after in pc member said -- after mbc members that he could vote for a rate increase as early as this month. sterling set for the biggest decline in a week. usually on the mpc.dovish side of the you can see it rising at the end of the chart, hitting a ties level since april. action at gilt, more on the front end. we have seen the front end of the two-year get yield rising eight basis points with a 10 year yield rising for basis points. here i have shown the curve of two verses 10, you can see the flattening off. it is certainly at its flattest level of the year since november. we will talk about the gilt market reaction in a moment. talking that equities with the close coming in 30 minutes. we are seeing losses on the stoxx 600. this is the secon

uber‘s troubled chief executive travis kalanick quits the company after a revolt by major shareholders. live from london, that's our top story on wednesday 21stjune. kalanick has been underfire after the firm faced a series of scandals including complaints of sexual harassment. last week he said he was taking an indefinite leave of absence. also in the programme. britain's government gets ready to unveil its legislative plans for the coming year. but can it really force through economic reform without a parliamentary majority? here's how european markets have opened. they are all heading lower, will explain who the winners and losers. and how sleep became big business. we'll meet the man behind a new generation of mattresses giving traditional bed makers nightmares. and as barbie‘s long—time boyfriend, ken, gets a makeover — he's got new hair styles, body types, new clothes and new skin colours — so today we want to know, what childhood favourite of yours should get a revival and makeover? let us know, just use the hashtag bbcbizlive. do get in touch about ken, plastic fantasti

uber ceo travis kalanick has stepped down from the company. it was after many things including a series of scandals. after more than $15 billion into the company, investors pressured him to step aside, something the board would ultimately not do. joining us from san francisco bloomberg editor at large cory johnson. he is still a member of the board. there are a lot of voting shares. >> it is interesting. this is something that seemed quite unlikely because of the control. we can presume a different class of share as well as a structure. zynga and groupon and alter google. we expect that is probably what is going on in uber. the that reason, travis kalanick was not going to leave until he was ready. but surely, his investors are ready to have him go. look at the rising valuation from uber. it really tells us, it has raised questions about valuations of private companies, when they decide to go public, but they have taken this nothing business started in 2010 at a city $5 billion valuation which is fairly amazing. they have brought in a professi

travis kalanick announced: he's resigning. according to the new york times: >>> good morning, it's 7:if. i'm michelle griego. the embattled ceo of uber is out. travis kalanick announced he is resigning. according to the "new york times," five major investors wanted him out. he will reportedly stay on the board of the company. >>> there is a "flex alert" in effect today because of the heat. officials are asking residents to conserve energy during peak hours between 2 p.m. and 9 p.m. to avoid blackouts. we'll have your full forecast coming up after the break. >>> good morning. we're tracking a head-on crash that has one-way traffic control in effect for drivers using highway 92. this is in san mateo county right at highway 35. skyline. you can see speeds drop below 10 miles per hour. if you are going between 280 and one, police avoid the area if you can. you will be faced with some major delays. emergency personnel on the scene. and no estimated time as to when they will get that other direction open. >>> over to the east bay, t

travis kalanick is taking a leave of absence for the company with no timetable on his are return what does this mean for uber manageme management, its customers, let's bring in the professor of law at northeastern university and m l molly wood, tech correspondent with marketplace polly, i'll begin with you kalanick leaving, no timetable for his return a number of other top-level posts. what is uber today is it an operating entity? >> that's a pretty long list you do have to remember uber has brought on some fairly high-profile people in recent weeks including francis frye of management and strategy. there will be people working on revamping the culture and they will be promoting from within but it is absolutely true one of the biggest problems at uber that's been identified by people like francis frye is that it has a problematic management structure in which everything flows through travis kalanick. it is certainly going to be an absence felt pretty keenly >> molly, the one thing i will say is this. it's a private company so we don't know all the internals but we haven't seen fidelit

cooper's controversial ceo travis kalanick stepping down. who's in line to replace him. a victory for republicans in georgia. >> it is that fighting spirit that i would take to washington and it will be the driving force for u.s.a. represent you. >> what does the democratic left wing for next year's midterm election? you are watching "fbn:am." ♪ uptown girl ♪ now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance. meatball on white! next! you want mustard on that or not! come on, come on. i haven't got all day here! it doesn't come with peppers! they're extra! hurry up.pay the lady! next! the chicken's fresh. i killed it myself. so that's what you want? next! while we're still young! you know you told me you wanted mustard. get outta here! >> pay the lady. >> i killed it myself. >> next. he told me he wanted mustard. times have get out

travis cal kalanick out at uber. roadmap this morning goes like this the uber shakeup travis kalanick is out as investors try to move past scanda scandals jack ma on why globalization is good david will sit down with him martha stewart shares her take on the state of retail the media mogul is going to join us live. first up, travis kalanick is out as ceo of uber bill gurley this morning, big investor in uber said books will be written about kalanick's entrepreneurship and few have changed industries the way he has. >> yeah. adam lashinski wrote a fantastic book "fortune writer" that came out four weeks ago about kalanick had he to break billions of eggs to make a couple of really fabulous omelets it's almost as if i don't want to say his job was done, but i would say that you got in there and it wouldn't be so bad to have a more -- a lesser addict story. personal tragedy you have to weigh this i think obviously the people got an image of what the company was like inside that was a little bit distressing. listen, this

charlie gasparino to replace travis kalanick. train to the new york yankees sending their losing streak. in basketball, big news for the nba draft. we will tell you what teams are making deals. lauren: 5:01 a.m. in new york. good morning. i'm lauren simonetti. cheryl: i'm cheryl casone. you are watching "fbn:am," your first look at morning markets and breaking news. and whether in politics. lauren: senate republicans will unveil their version of the new health care bill this morning. the measure to rollback the obamacare expansion of medicaid and penalties on people not buying insurance coverage and eliminate taxes to help pay for obamacare. cheryl: in cedar rapids, iowa, president trump seemed optimistic about senate bill. >> we have a very slim 52-48. that means that basically can't lose anybody. i think it may help, can't guarantee anything, but i hope we will surprise you with a good plan. i've been talking about it playing with heart. at the money to it. but obamacare instead. train to democrats strongly criticizing republic

can travis kalanick get the company over it? we should ignore the personal tragedy with his mother dying just before the weekend. james: there's nothing we can listed that isst excusable from the company. there needs to be an about-face immediately. they needed an about-face yesterday. looking at the caliber of the people they are able to attract, the holder report will all be instituted. you have the fall guy. looking at it from mr. travis kalanick's position, if he does take a leave of absence, it is a very difficult to come back. understanding, business remains very solid despite the things going on. if you did leave, it would be very difficult for him to come back because you can make the case that business is just fine without travis. i think he needs to take a look at the mirror and look a do a gut check. vonnie: i want to bring in our reporter eric. will uber get over this? l travis kalanick get them into the next phase of growth or is he tarnished now? iodc: we will have a long per with uber treading to write the shift r

jeff: so it will he led by somebody other than travis kalanick. but travis kalanick was uber. derek: he was responsible for the revenue and the culture. the revenue came out of the culture. the relentless focus on improving the product and making sure it was as good as possible and growing, growing, growing. him to get away with some behavior which was pretty heinous. uber is an astonishing a competent. the largest private company in the world. $68 billion in value. it may $20 billion in revenue last year. -- enormousorma's global colossus in how people get around all over the world. in order to get there, there was this culture growing that was toxic. it will be interesting to see what is uber like without travis? jeff: big revenue, but the company is still losing money. max: still losing money, and that is what we should be paying attention to. everybody sees uber -- uber is big and impressive. it is not as firm as people think it is. lyft is coming on fast. they had big battles in many other cities. uber has been pouring money into the cities for years subsidizing every rid

travis kalanick announced he is resigning as ceo. according to the "new york times," the five major investors demanded he go. in a statement to cbs news, the board said: the company room to fully embrace this new chapter in uber's history." this comes as the comp o shed recent co ies by changing some of its policies. uber announced -- passengers will now be able t >> this comes as the company is trying to shed recent controversies by changing some of its policies. uber announced passengers will now be able to tip drivers through the app. also, drivers can make more money when passengers keep them waiting past two minutes. the moves are part of uber's 180 days of change. >>> tesla is also making staffing changes. the company just hired a major figure in artificial intelligence to be its new head of ai and autopilot vision. he has worked for a nonprofit research lap called open ai and worked at alphabet for google. the move comes as tesla's vice president leaves the company for self-driving technology. he says excited to join tesla as

uber's ceo travis kalanick could be taking a leave of absence. considering the action followed an investigation headed by attorney general eric holder. chief business officer planning to resign and that could have been as soon as today. this is clinical of journalists. down almost 1% following a 2% drop on friday. dow futures coming off an all-time high down 36 points this morning. one of the nation's top democrats is demanding an investigation into whether loretta lynch covered for the clinton campaign. will the former attorney general be testified about it? let's pretend like madison, former chief of staff to the democratic strategists pablo manriquez. i have to ask you here, that was explosive last week what james comey said. we'll remember the famous tarmac waiting between bill clinton and the rest of lynch. now we think we know. they did pull back on the clinton investigation not your tarmac meetings the way they covered. she think she will testify? >> she needs to testify obviously. i think also it's interesting the timing. right now we hav

caroline: this travis kalanick have to go? seeart of me would hate to him go because he has been there from the beginning. he talked about getting leadership coaching after his rant was captured on video. i hope he stays around to some degree. when you lose a founder, it is hard for the people who have been there from day one. they will be disappointed. caroline: you have been in the situation yourself when you had to fill in. or 13 years ago, i came in as a later c.e.o. for a mobile messaging startup. the current c.e.o. was doing a good job but starting to get out of his depth in terms of growing the business. the investors wanted somebody to come in to take it to the next level. i think uber is behind the curve on that but that is what they need to be doing. caroline: give a global perspective. are we seeing an impact in london in terms of brand? when you travel to different countries, how does it impact? >> i think uber is still held in good esteem. people use it. the brand is somewhat tarnished after the six months whether

uber‘s chief executive travis kalanick could be forced to take a leave of absence under changes reportedly being considered by the firm. a decision on whether to alter travis kalanick‘s role was set to be taken at a meeting of uber‘s board on sunday. reports also suggest the company's chief business officer is planning to resign as well, as soon as today. all this trouble at the top follows a review in february afterformer uber engineer susan fowler made claims of sexual harassment. there has been an investigation into that sense. having a look at the markets began, now. the pound is still lag wishing after having fallen i.6% still lag wishing after having fallen 1.6% from friday. it is bumping along that low level. the euro is bumping along a little bit, and that is how the markets are changing in asia today. —— trading. stay with us. much more to come in just a moment. the news review in just a the news review injust a moment. but let's first talk about a vintage coach which serve the shetland islands for three decades. it will start an epic homecoming journey today. the restored

it all happened under travis kalanick's watch. i think a lot of investors have been blaming him for the bad publicity and the departures of the company. him leaving now, but he is not the only executive left. we had other employees leave. investors are obviously worried about where their investments are going in the uber. it is the world's biggest ride hailing apps. it is a big opportunity that could go for an ipo. investors are concerned that the longer the controversies went on, the more the company is getting distracted from its core business, getting people from a to b. matt: this does not end the potential for controversy. it does take away two key figures. will the spring the popularity of uber back to the levels it once was? in the u.s., lyft has been winning some market share. robert: absolutely. that has been one of the key issues. travis kalanick's involvement in one of president donald trump uber" led to the "delete campaign that was very popular in social media, a key demographic for people who use uber, and it gave ly

in a rare move, investors pushed travis kalanick to step aside. these invested -- investors poured more than 16 million into uber. caroline hyde broke down the news with our bloomberg tech reporter eric newcomer and a partner at the lead edge and investor into uber. kalanickar -- travis hoped it would satisfy critics and give him time to recharge after the death of his mother and a sort of take responsibility for the findings of the holder inquiry. it clearly was not enough. bill and some other major investors in uber sort of let this campaign to tell travis that he needed to step aside and that looks to be what finally convinced him to leave his position as ceo. caroline: as an investor, this is something you agree with and why did it come down to the investor base and not the board? >> i think the investor base represents a large interest in the company and that is an andrtant source of control influence of the business. i think it is important to recognize that travis kalanick also resigned sort of prompted -- that but he made the this is the b

uber boss travis kalanick is under fire for a corporate culture embroiled in a series of scandals. we will have the details. also in the programme, the australian casino group crown says 18 of its workers have been arrested in china, charged with promoting gambling. and ahead of uk inflation data, markets across europe look like this. putting a doctor in your pocket. we'll meet the woman whose app is designed to give you personalised medical assessments. and as the world's worst airports are named and shamed, we'll have the details. but today we want to know, what's your worst airport experience? i bet you think you have not got time and 140 characters is not enough! let us know, use #bbcbizlive. plenty of experiences terrible airports when i was based in the middle east, we will save that for little later! let's get started, a lot to get through today. uber has become a household name around the world in just a few years. but the taxi—hailing service is on an increasingly bumpy road. the san francisco based firm has announced the departure of another executive as it prepares to

travis kalanick resigns. we talk about the future of the world's largest arstart up. ♪ francine: you are watching "bloomberg surveillance" and i'm francine lacqua. uber's ceo has quit. travis kalanick's resignation caps the series of controversies. app has faced a series of scandals, including sexual harassment and the use of software to purchase regulators. matt, great to have you here. first of all, who pushed him out? matt: well, as "the new york times" reported, there was a letter from five uber investors led by benchmark capital, a very respected venture firm in california, saying, look, travis, it is time to go. travis kalanick was already taking a leave of absence from his role at uber. this makes official something which a lot of people expected would happen eventually. francine: would it have happened differently if it was a public company? >> that is interesting. uber is the largest venture backed startup, worth something like $70 billion at last count. were it a public company come it would have

uber's ceo travis kalanick has stepped down a statement from uber's board of directors said kalanick's bold decision to step down was a sign of his devotion and love forever the compan for the company. pressure mounted on the uber founder from five of the major investor s to resign immediately. despite these scandals, uber remains one of the most highly anticipated ipos in the tech space. geoff spoke to kalanick about the potential listing last year. but he would not die vvulge when the company would pull the trigger. >> we have to ultimately find liquidity for all shareholders but i'm going to make sure it happens as late as possible. >> two years three years? five years ten years? >> i'll keep you posted. i have no idea >> another ipo that has persistently gotten market attention is saudi aramco. we asked if haven't volatility in the oil market could affect the mammoth listing and lead to the world's first ever trillion dollar company he said the complexity of the deal will have a greater impact than the price of crude. >> irrespective of the falling price of oil, this is a huge comp

big business story today, uber ceo travis kalanick, stepping down as chief executive. according to the "new york post," facebook coo, cheryl samburg on the short list to. we'll ask branding expert bruce turkel. >>> senate republicans release a draft of the health care bill tomorrow. they're still determined to vote on the bill later next week. i want to go to adam shapiro. reporter: 9:30 a.m., the public will get a idea of what is in the draft. it will be sent to cbo scoring possibly and a vote after the score comes out next week. look what is happening behind the scenes. today's headlines, anthem, blue cross, blue shield pulling out of two states. wisconsin, indiana, diminishing offerings under the obamacare plans because premiums are going up and it is not working. look what the white house did today, they launched repeal and replace obamacare website. key point 28 million americans still do not have health insurance. premiums on average have gone up $3,000. there was the tweet this morning from president trump who said, i will read the entire tweet, democrats would

travis kalanick stepped down from the company he helped create in 2009. new york times reports numerous board members wrote a letter demanding his resignation, many questioned his leadership following report of the widespread sexual harassment and discrimination at the company, kalanick will remain on uber's board. >>> several airline passengers er taken to the hospital after officials call it strong turbulence on the united flight to houston. paramedics cyst ted them off the flight yesterday afternoon and we are told plane was heading to houston from panama city and encountered turbulence near cancun mexico. some passengers were treated at the airport. one passengers describe the trouble in the sky. >> the plane started to shake very violent. >> many people were crying. >> people they jumped to the ceiling of the plane. >> now authorities say all of the injuries were minor and passengers all expect to be okay. >>> if you toss and turn trying to fall asleep this advice may be for you, doctors are saying in order to sleep more you should actually sleepless

and they said it was probably the right decision for travis kalanick to step down. they said that investors are very critical to the company so he believes this is the right step forward in the company trying to move past some of these challenges another employee told us, though, that he doesn't work directly with travis that he does believe that travis should have been given a second chance and he says he's noticed a lot of positive changes in the company the last several months as they have been grappling with the issues of harassment and culture. we did talk to a number of uber users, people who simply work or live in san francisco here and the vast majority of them said this was the right move, that they believe that it was the right thing for travis to step down for the company to move forward and sending a message to silicon valley about not tolerating some of these challenges that they have been dealing with guys, back to you. >> aditi roy in san francisco, aditi, thank you very much for that >>> steve, your op-ed, meanwhile, on a different topic would have b

travis kalanick has had a difficult time recently given the death of his mother and he's on a leave of absence. turning to what's happening in the market, it's a sea of european equities taking the lead from asia. oil prices down around two-thirds of a percent in today's trade. back to you. >>> thank you very much. still to come on "early today" daniel dave lewis is calling it quits on acting. plus the investigation in this awkward hug and how ivanka trump and senator rubio are responding to it next over those trending stories. can you love wearing powerful sunscreen? yes! neutrogena® ultra sheer. unbeatable protection helps prevent early skin aging and skin cancer with a clean feel. the best for your skin. ultra sheer®. neutrogena®. right now, all your refreshing soft drink faves are just a buck. whether diving in or chilling poolside, stay cool while you check things off your summer bucket list. like summer, any size soft drinks for a dollar won't stick around long. only at mcdonald's. ( ♪ ) bounty is more absorbent,mom" per roll won't stick around long. only at mcdonald's. so t

plus, travis kalanick takes an indefinite timeout. why the ceo says he takes a break from the company he cofounded and what it means for uber ahead.

eric: travis kalanick basically runs the company. he has a lot of power on the board himself, and has close allies. i do not think they could fire him outright. we cannot speculate about what would happen in the company, where the public shareholders decided travis was at the whim of his board of directors. but this is a case where he has a lot of power. solution,gotiated where he can step away a little bit, grieve about his mother who recently passed away, and figure out who the new chief operating some of thecan take day-to-day decision-making. yvonne: a lot of growth to his employers, which i wanted to bring up. 2.0 andwork on uber travis 2.0 to become the leader this company needs and you deserve. it seems to be the case that they want a fresh start and this was the right move. do we also see a power vacuum in uber? there is no ceo, no coo. who will be stepping in? eric: it is literally a mystery to me right now. aey hired francis grade, harvard business school professor, an expert in this sort of issue. i think they are hoping s

emily: travis kalanick resigned this week. >> that is the biggest. it is kind of crazy. the ceo of uber has resigned. bill gurley is the steward on the board, instrument on -- it still until -- instrumental in a lot of the recruiting, and in the process to get rid of travis has also stepped off. a mind blowing week. emily: you wrote a great piece on the "game of thrones" political maneuvering. bill gurley was the one who got investors on board to deliver him this letter asking for the resignation. tell us more about what happened. >> what he could not do on the board, get the board to oust dravis, he got a coalition of investors, including fidelity, five investors altogether. he had his partners hand-deliver the letter to travis, saying your investors have turned against you, you need to resign, there are legal issues. you have put the company at risk, you need to step aside. emily: we know they had another board meeting yesterday. what is the latest? where are they now? >> in the scheme of bloomberg dramatic board meetings, not the top of the list. but some new people a

ceo travis kalanick himself overreacted in a video. lawsuit. the is one thing after another for these guys. if we are talking about the culture of the business irrespective of whether travis kalanick stays on were not, what do we from eric holder, the former attorney general? does that help them with an overhaul in terms of image? that it is imagine getting quite confusing to parse all of the center controversies. ways a company that grew too fast with way too much responsibility and capital and got out of control. what this report probably will recommend is that the company , rebuild some of these divisions that were overlooked or do not grow fast enough, human resources, the legal division, also to indications. i think he will recommend some changes in terms of reading it and director for the board of directors. we already reported they are bringing in an executive from nestlÉ. perhaps reaching some targets in terms of gender diversity and the management team. we have not seen the holder report yet, but there is lots to look at and lost to a

and ceo travis kalanick is setting -- stepping aside indefinitely. he said he needs to work on becoming the travis 2.0 he stated in a companywide memo. this announcement came on the same day former attorney general eric holder's law firm released a series of recommendations on changing the pro-culture at uber. under travis kalanick, culture was described with headlines like principled confrontation. among reports, 47 recommendations, adopting values that are more inclusive, emphasizing teamwork and meant -- mutual respect, and cutting back on alcohol and drugs on the job and at work events. >> i guess time will tell. hopefully now that it is a valid public issue. >> reporter: summer cofounded a new education program that teaches stem skills to girls. she hopes real reform as possible at uber for the sake of the young girls she works with. >> we know those skills their learning today will translate into degrees in higher education and ultimately high- paying careers in stem and we need the creativity and the minds of women alike men and women both. >>

travis kalanick has resigned as ceo. he will remain on the board of directors. the decision comes after allegations of sexual harassment in the workplace culture at the firm. some of the biggest investors delivered a letter to travis kalanick pushing him to step down. a partner at one of the investors is on uber's board. the dow retreating from record highs and the energy sector drags stocks lower, it's dropped 20% from a recent high on concerns over a global supply glut. >> and amazon has launched a try before you buy service called prime wardrobe. it allows amazon prime members to try clothes, shoes, accessories from brands of calvin klein, hugo boss and customers are charged for items that they keep and will get higher discounts if they buy a lot of those items, frances. >> as if i need another reason to have those brown bobses waiting for me at the door that i stash and hide from my husband. landon, thank you so much. >> daniel day lewis is calling it quits on his acting career. plus, the investigation into this awkward truck and how ivanka trump and senator

that travis kalanick is popular with the staff. i think that is one of the dilemmas is that his personality drove this business and he has surrounded himself with like-minded people. when you look how the business works, there are two things. achnologically, cooper is wonderful service to use. -- when you look on paper, it is simple. if you could pull a lot of with lowery, perhaps prices to have a lot more customers. the question is can some of the companies come up with the technology and dozens of dozens driversng, but also woo off of the platform and make that move on the supply side or the demand side? >> to that point, is uber need to bring someone in accurate talk to me about the characteristics of bill persons in the specific potential people who could take job -- travis kalanick's job. not only rally the but also, but also -- the drivers. /driveremployee morale warming monte carlo who joined the board workout. we are looking -- they are looking for ceo with a lot of experience and perhaps an old guard. technology executives

it was a rough time for travis kalanick. the stock market off to a rough start, in particular, the tech sector. the dow is lower by 20 points and the nasdaq is down by 65 points, a 1% decline in this area and s&p is down four points in early going. >>> jason burke, thank you becca california lawmaker wants to help taxi drivers compete with uber and lyft. legislation was proposed to regulate taxis by region rather than by city. this would limit the number of permits a tracks he died -- a taxi driver would need. taxi drivers can raise and lower prices depending on demand. >>> industry experts said gas prices could fall over the next few weeks unless oil prices have a speedy rebound. the national average of the price of gas fell by slightly less than $0.01 per gallon, reaching a national average of $2.40. in san francisco, it is quite a bit higher than the average, right now. it is $3.24 per gallon in oakland and $3 13 in san jose. >> more expensive, but good to see it is dropping. roberta said we will shoot up the air conditio

removal, tweeted "there will be ma many pages in the history books devoted to travis kalanick. very few entrepreneurs have had such a lasting impact on the world." >> thank you very much. >>> georgia voters are setting the state's first republican woman to congress after a closely watched special election. karen handel received nearly 52% of the vote, defeating jon ossoff by almost 3%. president trump tweeted his congratulations for her big win. mark is there for us. >> reporter: karen handel won this special election comfortably in what was the most expensive house race in history. both side spent more than $56 million, but the seat of this affluent, educated district will stay republican. >> a special thanks to the president of the united states pof america. >> reporter: karen handel celebrated her new job by thanking president trump tuesday night. but it's the president who may be the night's biggest winner. on twitter he took a victory lap for "those that want to make america great again." >> my promise is single day relentlessly to make our state and this country a better

(pam)uber ceo travis kalanick is stepping down temporarily. kron 4's dan kerman is live at uber hq in san francis o with details uber's leadership and workplace culture has been the center of attention following a string of incidents, among them a video showing ceo travis kalanick arguing with a driver who claimed uber's fare reduction forced him into bankruptcy. .. and claims by a former female engineer that she was sexually harassed by her boss and senior mangers ignored her complaints. now in a letter to employees kalanick says he will take a leave of absence for an unknown period of time "to grieve my mother," who died in a boating accident last month and "to work on travis 2.0 to become the leader that this company needs." sot wayne rash/eweek tech columnist 38-49 the question is just how arms length will he be away from it because travis was responsible for the toxic environment that was at uber because of his irresponsible actions as a manger so he's going to have to stay disengaged and if he's not, it's not going to make a differenceka