Steve Jobs Resigns, Google Settles Lawsuit

Apple's founder CEO Steve Jobs announced he's stepping down from his post. Chief Operating Officer Tim Cook will replace him. In other technology news, Google has agreed to pay $500 million to settle government charges that it knowingly posted ads from illegal online pharmacies.

Copyright © 2011 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

DAVID GREENE, host:

NPR's business news starts with a new CEO for Apple.

(Soundbite of music)

GREENE: Apple's founder and visionary CEO, Steve Jobs, announced he's stepping down from his post. Chief operating officer Tim Cook will replace him. Still, analysts and investors are scrambling to figure out what Jobs' departure means for the influential company.

RENEE MONTAGNE, host:

In other technology news, Google has agreed to pay a whopping half a billion dollars to settle government charges that it knowingly posted ads from illegal online pharmacies. The Justice Department accused Google of accepting ads from Canadian pharmacies selling drugs like the painkiller Oxycontin without requiring a prescription.

The settlement clears away one legal hassle for Google, which still faces a broader antitrust investigation.

Copyright © 2011 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.