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

but travis kalanick was and is uber. >> exactly right. ible for the bottom line, rest new, as the culture. in many ways the revenue came out of culture, this incredible relentless focus on improving the product, making sure it was as good as possible, growing, growing, growing, and allowing some of the top reformers in the country get away with that with what we now know was heinous behavior. >> glor: the company is still losing money. >> they have big battles in many sphaeps they have been pouring money from venture capitalists for years and years subsidizing every ride we take while pushing their drivers to accept less and less money, and the fact they're still not making money is trouble. >> glor: the whole tipping thing has been a huge point of discussion. >> the tipping thing is actuallyally funny because for years, travis kalanick actually was the sort of weird stopping point on driver tipping. i had talked to people inside the company who said they'd essentially built the mechanism already, but for some sort of philosophical reason

what does uber look like without travis kalanick? o 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

it's important to recognize that travis kalanick also resigned, sort of prompted by this, but he madehe determination that this was the right thing for the company. he didn't have to resign. let's not discount the role of travis in making that decision for himself, yes, prompted by the investors, but he absolutely had a hand in it as well. caroline: did he explained to us intentionally why the board -- can you explain to us why the board hadn't taken prior action? were their hands tied? did it have to do with travis' voting share? eric: travis had a lot of control over the company, coupled with his cofounder and an early employee, early ceo of the company. together, they had a pretty strong coalition. i think there was a lot of faith in travis. he has been a key man in defining the company for good and bad. they did $20 billion in gross bookings last year. amid all the scandals, it's easy to forget how enormous this business is, how global it is. it will be a question how somebody else can step in and wrangle the business that travis knows more than anyone else. caroline: let's turn t

you can have a thousand people signing a petition that says keep travis kalanick around. him. we will die for him. then you can have hundreds of thousands of people who think the exact opposite, who think that even though travis might have been necessary in terms of getting uber into these markets, bypassing all this regulatory red tape, making them the global company that they are, that he might have been the right guy for the growth, but he is the worst for managing the growth because he does not have the soft touch you need. from what i have read, from what i have seen, i feel like the company is torn. you see that there is attrition. people who are feeling like this is not the place to be. our senior management has been gutted. we don't know what the future of this company is going to be. are we going to leave? some people believe very strongly in the cause, believes that they are changing the world. they want to stick around to see how the story ends. >> internally, what is the divide between pro-and anti-travis kalanick forces? mike: it is really funny, what derek w

what do you make of travis kalanick stepping down?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. it is ironic to me, thinking that somebody like travis kalanick, clearly an opportunist and a very aggressive and a visionary of a sort, 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. he is a very responsible steward of facebook. the things you hear repeatedly happening at uber you never hear happening about facebook. the worst you hear about facebook is that they do not have enough women executives and minorities. i know that is real and something you ca

quickly mentioning travis kalanick, he is gone? iam mentioning travis kalanick, he is gone?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. that heat will continue to retrea

bill gurley of benchmark capital tweeting there won't be many pages in the travis kalanick, very few entrepreneurs had a lasting impact on the world. gurley was reportedly one of the major investors that demanded that kalanick resign joining us is a partner from lead edge capital, the firm invested in uber at a $40 billion valuation. brian, thank you for joining us. >> sure. >> was this the only path forward for uber in your view? >> no. look, the board has an obligation to serve all stakeholders to serve as checks and balances to make sure the company is run properly you have a board here incredibly experienced who made the determination that the right thing to do to move forwardis have new leadership. that's fine. there's no problem with that i think in our mind we just have to trust them as shareholders to identify is this the right thing to do. i don't knows there a one correct answer and time will tell but in our opinion it is just a matter of the board serving the interest of all stakeholders including the share holders and those minority interested shareholders, and properly do

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 shareholderslive 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 fantastic or not?

uber ceo travis kalanick has stepped down from the company.t 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 profession

travis kalanick announced: he's resigning.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, take a look

travis kalanick is taking a leave of absence for the company with no timetable on his are return whatean 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 fidelity and other

cooper's controversial ceo travis kalanick stepping down. who's in line to replace him.ry 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 outta here. ♪i would

his departure comes one day after the resignation of ceo travis kalanick. e of the five investors that five investors that lead to results and him to step down. on tuesday, gurley said there'll be some@travis k. with several entrepreneurs at the lasting impact on the world. a alerts taken over since first leading sander levin lien dollars fine in being in birth in 2011. gurley is being replaced by matt kohler. he could be helpful in the topic for kalanick's replacement. sheryl sandberg, the current ceo of facebook. she's reportedly taking her name out of the running with direct your theory on the huffington. others include ford ceo alan mullally. susan majewski courtesy of youtube ursa minor. former ceo of yahoo!. fox businesses charlie gasparino spoke with one of the chief capital investors who see big prospects for the future of the ridesharing company. the line is out the door of world-class candidates. talking someone who could make $1 billion when an ipo with the valuation of 70 billion, there has been recent speculation as to whether cooper will follow

can travis kalanick get the company over it?ld 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 right the

travis cal kalanick out at uber.ap 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 guy d

wasyears travis kalanick weirdader -- was the stopping point on tipping. uilt the mechanism already, but for some philosophical region -- reason travis thought it added more friction into it. it was indicative of how uber treated their drivers for years. dispensable, as a disposable labor force that they can churn through quickly and always find more supply of new people by spending more marketing dollars to get more drivers. at this point they realize there is a finite number of people who .re willing to work and so we need to treat our drivers better and maybe will have better retention in the long run. they are starting to figure that out now. i imagine it will take a while for them to actually believe some of that. lyft a littleut bit if you could. mike: a your burger geoeye with a said you they would have run out of money -- a year or two ago i would have said they would have ran out of money. but they have been gaining over some of uber's stumbles. private equity firms have missed a certain opportunity to invest money into uber, so they started yft as

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

could include training and to address the future of key executives including someone michael and travis kalanickboth personal and professional turmoil. his 4-year-old mother died in a boating accident at the end of famous father was seriously injured. kalanick has been tending to him since the accident. a recent memo sent to employees in 2013 was leaked. he was also seen in a video galina uber driver in february. hoover has not issued any comments so far. cheryl: the results of the investigation tomorrow. >> are expected to learn more about attorney general holder recommended to uber. we will see what they change. lauren: thank you. cheryl: global market action overnight. the technology selloff was not taken on friday continued in markets this morning. the nikkei down half a percent. hang seng is up at shanghai coffee down 1% as well. pressure continues. >> stocks in europe so enough as well. the ftse down 30 points in london at the cac down 57 points in paris in the dax down 121 points in germany. cheryl: ) the nasdaq. backing up a little bit. down about 1% in premarket down .87%. s&p pointed l

should they be pushing for travis kalanick to be taking a leave of absence? hink the personal issues travis has been facing have been significant for him. it may be a good time for him to step back. now with the leaving of his right-hand man, you have several open positions. for these to remain open while he is taking a leave of absence would leave management and turmoil because there would be nobody steering the ship at the time. caroline: talk about these independent board members being called for by the eric holder report. it feels as though perhaps they are too hard to fill at the moment. how independent is the board compared to other companies? founders and company leaders have a lot of control when it comes to the boards. >> correct. the dual structure for control of the company has been around since the 1920's. it has recently become more prevalent at technology firms, especially in silicon valley. the way the dual structure works is you have two different classes. one class of stock has significant voting rights, more than the other. perhaps the other

uber‘s chief executive travis kalanick could be forced to take a leave of absence under changes reportedlytravis 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 bedford ob — which was built in 1950 and has a top speed of forty mil

it all happened under travis kalanick's watch.ot 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 lyft a free ki

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 mo

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 pu

i think it is important to recognize that travis kalanick also resigned sort of prompted -- that but made the this is the best for the company. he did not have to resign so let's not discount the role of travis making that decision for himself. prompted by the investors, but he had a hand in it as well. caroline: can you explain potentially why the board had not taken such action prior to this? were their hands tied? was it to do with travis' own voting share? >> travis has a lot of control over the company especially when coupled with the cofounder and ryan, an early employee and coo of the company. together they had a pretty and i coalition there think there was a lot of faith in travis. he has been a key man in defining the company for good and bad. uber did $20 million in gross bookings last year. amid the scandal, it is easy to forget how enormous and global this business is. it will be a question how someone else can step in and wrangle the business that travis knows more than anyone else. nimay.e: let's turn to are you as confident as ever as an investor that the company will

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

and they said it was probably the right decision for travis kalanick to step down.hey 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 bee

travis kalanick stepped down from the company he helped create in 2009. 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. >>

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 has had a difficult time recently given the death of his mother and he's on a leave ofence. 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 the roll c

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

about a new chief operating officer doing some of the -- giving authority to someone besides travis kalanickying someone else needs to come into up the company figure this out. let's also get an independent chairman to oversee this. the recommendations were clearly trying to diminish travis , whether he took a leave of absence or not. betty: is this a firing disguised as a leave of absence? 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

emily: travis kalanick resigned this week. >> that is the biggest. it is kind of crazy. 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 are on the board,

scarlet: the reason we care so much about him is because he is the closest of travis kalanick. for travis? does he get the boot? we brad: we care because this is one of the key executives that is made uber what it is today. what does that tell us about his fate at uber? probably not a lot. we will find out tomorrow whether he will take a leave of absence from the company. that has been raised as a possibility. also possible he takes a little personal time considering the tragedy that befell his parents recently. that comes back to the -- then comes back to the company. we do not get a sense travis will leave uber. that will be a devastating blow to the company. he is so intimately tied to this -- integrally side to this company. julia: it has been pretty tough over the last year. beginning of the year, they experienced losses with the delete uber movement. than the sexual-harassment most. than ever color was hired to investigate the allegations. ceo travis kalanick himself overreacted in a video. lawsuit. the is one thing after another for these guys. if we are talking about the

it was a rough time for travis kalanick. 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 conditioning

travis kalanick has resigned as ceo. he will remain on the board of directors. 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 rub

and ceo travis kalanick is setting -- stepping aside indefinitely. d 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. >> report

that travis kalanick is popular with the staff. 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 will also be in the

the resignation of travis kalanick will impact the ride giant. >>> and getting ready for the great american eclipse. the sun, moon, and earth align for a once in a lifetime event. we'll take you to the town that will have the best view. >>> we begin with a look at your world in 90 seconds. >> the wind and the waves are really starting to pick up. ing dylrea w theind is whipp up white caps. >> the gulf coast prepares for tropical storm cindy. >> this is going to be a serious event. >> the storm is coming so hupger down, everybody. >> the heat in the southwest. >> another very uncomfortable day. >> the state department is weighing response options on north korea after the death of otto warmbier. >> frankly, if he wereug broht home sooner i think the result would have been a lot different. >> the status quo is simply unsustainable. >> mitch mcconnell says they'll vote on the health care reform next week. >> i like to move forward with legislation that i haven't seen. that's one of the practices i've enjoyed around here. >> this is not the outcome any of us were hoping for. >> the big victory f

here at uber hq in sf, a changing of the guard at ridesharing titan uber as ceo travis kalanick (cal-uh-nickunces he will take a leave of absence for an unknown period of time. uber's leadership and workplace culture has been the center of attention following a string of incidents. kalanick's departure comes as uber's board adopts a list of recommendations that former attorney general eric holder has submitted after being tasked with investigating what some have called the toxic culture and workplace environment at uber.ubers top hr officials says change doesn't happen overnight but they are comitted to reestablighing trust with riders drivers and employees. at uber hq, dan kerman kron 4news in sonoma county... 39-year-old kevin thorpe did not enter a plea at his arraignment tuesday. he has been placed on unpaid administrative leave as clinical director of the hanna boys center in sonoma. this after he was arrested saturday for allegedly molesting a boy at the boarding school multiple times between 2006 and 20-11. the victim was between 13 and 18 years old at the time. the sheriff's office s