BUSINESS NEWS ROUNDUP
ADVERTISING Google pulls Russia Today
Alphabet Inc.’s Google recently removed Russia Today from a package of premium YouTube video inventory that the company sells to advertisers, a spokeswoman said on Tuesday.
The decision comes amid a congressional investigation into the ways Russian actors used digital platforms to influence the U.S. election. Google has been called to testify to both the Senate and House Intelligence Committees, along with Facebook Inc. and Twitter Inc.
YouTube is a focus of the inquiries, and Congressional investigators have eyed the role of Russia Today, or RT, and other networks that U.S. intelligence agencies have identified as close to the Russian government.
Previously, Google had packed the channel — which has more than 2 million subscribers on
YouTube — as part of its premium inventory of popular channels for marketers, called Google Preferred. The Google spokeswoman said that after a recent update, the channel was removed. EXECUTIVES GE’s Immelt to retire early
General Electric says Jeff Immelt is retiring three months early because the company’s transition to a new CEO is going well.
The conglomerate announced Immelt’s departure Monday. He had led the company as its CEO since 2001 before announcing in June he was stepping down. He was originally to hold on to the chairman role until the end of the year.
GE executive John Flannery took over as CEO in August, and now will add the chairman title.
Immelt reshaped GE after taking over from legendary CEO Jack Welch. He led the company through the financial crisis and then sold off many of the financial services businesses that Welch had added, along with GE’s appliance unit and NBC television.
SOCIAL SECURITY A look at giving up numbers
The Trump administration is exploring ways to replace the use of Social Security numbers as the main method of assuring people’s identities in the wake of consumer credit agency Equifax Inc.’s massive data breach.
The administration has called on federal departments and agencies to look into the vulnerabilities of employing the identifier tied to retirement benefits, as well as how to replace the existing system, according to Rob Joyce, special assistant to the president and White House cybersecurity coordinator.
AUTOMAKERS Ford to cut costs, models
Ford Motor Co. will cut $14 billion in costs and drop some car models from its lineup under Chief Executive Officer Jim Hackett, who will focus its future on sport utility vehicles, trucks, electrification and driverless technology.
The reductions will be made over the next five years, the automaker said Tuesday before an investor briefing in New York. Ford will shift spending toward products like the Ranger midsize pickup and Bronco SUV while axing passenger cars, without naming specific models.
ACQUISITIONS Office Depot buys into tech
Office Depot Inc. is betting that a technology makeover can help the chain rebound from a punishing retail slump. The office-supply company agreed on Tuesday to buy CompuCom Systems Inc., giving it a platform to sell tech services to business customers. Office Depot is acquiring CompuCom from private equity firm Thomas H. Lee Partners LP for about $1 billion, a price that includes repaying the takeover target’s debt.
TECHNOLOGY Microsoft teams up on VR
Microsoft is touting virtual reality headsets made by other companies that run on its Windows 10 operating system. The devices unveiled Tuesday include a Samsung headset called the HMD Odyssey. The $500 headset will connect to a PC running on a Windows 10 update being released Oct. 17
Microsoft also disclosed an acquisition of startup AltspaceVR in Redwood City to develop technology for holding business meetings in VR.
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