Oracle founder Larry Ellison steps down as CEO

The move comes earlier than expected by many investors, and appears designed to address concerns about the company’s direction under Ellison, 70, who co-founded the firm that became Oracle in 1977 and has been Oracle’s only CEO.

Equities breathe sigh of relief after Scotland vote

New York: STOCk markets around the world were little changed on Friday, paring early advances though equities remained on track for a week of strong gains and Alibaba rallied in its trading debut.

Equities pulled back from an early advance, pressured by weakness in large-cap technology shares, though the recent upward trend remained intact.

The day’s early gains, which took the Dow and S&P 500 to fresh records, came after Scotland voted to remain in the UK, removing the risk that independence would diminish the United Kingdom’s standing in the world and sow financial, economic and political uncertainty during months of negotiations.

The Dow Jones industrial average was up 45.92 points, or 0.27 percent, at 17,311.91. The Standard & Poor’s 500 Index was up 3.14 points, or 0.16 percent, at 2,014.50. The Nasdaq Composite Index was up 2.82 points, or 0.06 per cent, at 4,596.24.

Meanwhile in Europe, Britain’s FTSE 100 advanced 0.7 per cent to 6,864.55 and France’s CAC 40 rose 0.1 per cent to 4,468.88. Germany’s DAX added 0.6 per cent to 9,860.77. US stocks were set to open higher, with Dow futures up 0.4 per cent and S&P 500 futures rising 0.4 per cent. Investors were relieved that Scotland voted to stay in the UK Independence would have shaken the UK economy and its markets because of uncertainty over the future value of the pound and public debt, among other things. Companies and markets were heartened that that the final tally showed the campaign against independence won a clear victory.

The pound jumped temporarily after Scottish voters rejected independence. It rose as much as 0.4 per cent to $1.6509 from $1.6445 though it later dropped to $1.6388.