Uber picked Expedia Inc. (NASDAQ: EXPE) CEO Dara Khosrowshahi to run the huge ride-sharing service. The company’s previous CEO, Travis Kalanick, stepped down as a battle on the board and unrest among employees threatened to pull the company apart. Meg Whitman, CEO of Hewlett Packard Enterprise Co. (NYSE: HPE), and Jeff Immelt of General Electric Co. (NYSE: GE) were also potential candidates.
Federal Reserve Bank of Cleveland President Loretta Mester said further Fed rate hikes are important to the economy. She told Bloomberg:
There’s some risk that if we wait too long we can find ourselves in a bad spot. “We have to move policy a little bit before we get to the goals or else we’re going to get behind.
Flooding in Houston and other sections of Texas along the Gulf Coast has closed large refineries and taken much of the U.S. capacity offline, perhaps for days. This could trigger higher gasoline prices.
Samsung Electronics Vice Chairman Jay Y. Lee, who has been sentenced to five years for bribery, has appealed his conviction.
According to CNNMoney, large companies have contributed to an effort to help people who have been hurt or displaced by Hurricane Harvey. The news site reports Exxon Mobil Corp. (NYSE: XOM), Alphabet Inc. (NASDAQ: GOOGL), Lowe’s Companies Inc. (NYSE: LOW), and United Continental Holdings Inc. (NYSE: UAL) are among the firms that have provided help.
BRG reports that the least expensive Apple Inc. (NASDAQ: AAPL) iPhone 8 will cost $999. The tech site reports:
Tucked away in an article titled “Dear iPhone: Here’s Why We’re Still Together After 10 Years,” the well-sourced New York Times reveals that the iPhone 8 will be priced around $999, according to people briefed on the product. The report goes on to mention several of the iPhone 8’s signature features, including the all-screen design, facial recognition, and wireless charging.
The phone is expected to be released in September.