Avie Schneider
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Stock indexes tumbled so fast Monday that marketwide trading was halted temporarily for the first time since October 1997. The Dow Jones Industrial Average fell 2,013 points, or nearly 8%.
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Welch, dubbed "manager of the century" in 1999 by Fortune magazine, grew GE into an industrial powerhouse. During his reign, the company's market value skyrocketed to $410 billion from $12 billion.
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Ending an era at the Internet's biggest search company, Google co-founders Sergey Brin and Larry Page end their leadership roles. Sundar Pichai will become CEO of Google and its parent, Alphabet.
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Apple is entering the video-streaming race, taking on Netflix, Disney and others with a new monthly subscription of $4.99. The company also announced new iPhones, as their sales have been slowing.
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Attorneys general from eight states and the District of Columbia have launched a probe into Facebook and its market dominance. The Justice Department has also launched an antitrust review of Big Tech.
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Under a settlement with the Federal Trade Commission, the company will pay $5 billion and its co-founder could be subject to penalties if Facebook doesn't comply with the agreement.
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Four months after its top-selling 737 Max airliner was grounded worldwide, Boeing announced a 35% drop in revenues and a loss of $2.9 billion in the second quarter.
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The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach that affected nearly 150 million people.
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As iPhone sales slow, Apple is rolling out Apple TV+, a service to compete with Netflix, Hulu and other streaming services. It's also offering a virtual credit card and a subscription news service.
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The giant Kraft Heinz food company's stock dropped sharply Friday after it said its Kraft and Oscar Mayer brands are worth $15.4 billion less than previously stated.