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The more pressing concern for shareholders is how the divorce could affect Jeff Bezos’ control of the company.

The experts who CNBC interviewed could not think of another situation where a founder of such an influential company divorced a spouse who had been with them since the company’s founding. The only one who came to mind was Rupert Murdoch, whose second wife Anna was with him for more than 30 years as he built his media empire before divorcing in 1999, but they reportedly had a prenuptial agreement.

It may be difficult for the Bezoses to split up their wealth without dipping significantly into their Amazon shares, said Jordan Neyland, an assistant professor of law at George Mason University who has written on the topic of CEO divorces.

“A lot of the prior CEO divorces have been more career professionals that have built up other wealth before becoming CEO,” Neyland said. “So I think that’s what makes this one a little different, being a founder getting divorced while in office.”

Typically, CEOs could avoid splitting up their shares by leaving other assets to their spouses, such as real estate and other property. But for the Bezoses, Neyland said, “all the wealth is going to be tied up in Amazon. In this case, I don’t know, of course, what to think of something of this magnitude, but I imagine his spouse is going to get some amount of stock in Amazon. So this is going to change the ownership in Amazon.”

This could mean Amazon may need to find a new structure to ensure that Jeff Bezos still owns enough voting power with his shares, Neyland said, like creating different classes of shares with varied amounts of voting power.

“This would be some creative lawyering that would have to happen,” Neyland said. “I don’t know if there’s been any sort of precedent for this.”

But Starks speculated that the couple probably came to an agreement on that point well before making their public announcement Wednesday.

“I have to imagine that some of the longest conversations and most legal mind power went into how to fashion a settlement that retained Jeff Bezos’ ability to remain a controlling shareholder in Amazon,” Starks said. In order for this to happen, Starks said, MacKenzie Bezos could have elected to give up claim to the stock or give up her voting rights to her shares.

Some of the terms of the settlement may come to light in Amazon SEC filings. Amazon declined to comment

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Bank of England holds interest rates steady amid Brexit chaos



Pedestrians walk past the Bank of England in the City of London, Britain June 28, 2016.

Paul Hackett | Getty Images

Pedestrians walk past the Bank of England in the City of London, Britain June 28, 2016.

The Bank of England (BOE) held interest rates steady on Thursday, amid intensifying uncertainty over Britain’s departure date from the European Union.

With just eight days to go before the country is set to leave the bloc, the BOE’s nine-member Monetary Policy Committee (MPC), led by Mark Carney, unanimously voted to leave interest rates unchanged at 0.75 percent.

The BOE had expected this to be their final meeting before Brexit, but Prime Minister Theresa May has asked the EU for an extension to the deadline. It means policymakers at the central bank have been left in limbo when it comes to implementing their plan for limited and gradual rate hikes over the coming months.

At around 11:50 a.m. London time, sterling traded down 0.6 percent at $1.3116.

The BOE’s rate decision comes after the U.S.Federal Reserve abandoned forecasts for any interest rate hikes this year amid signs of an economic downturn.

Market participants were buoyed by the Fed’s dovish stance, but slowing global growth continues to weigh on investor confidence.

Last month, the BOE sharply downgraded its 2019 economic outlook to 1.2 percent. As recently as November, the Bank had projected growth of 1.7 percent this year.

It marked the biggest cut of its growth forecasts since the period immediately after the Brexit referendum in 2016. It also means policymakers at the central bank now expect Britain to grow at its slowest pace since the global financial crisis.

For 2020, overall economic growth is expected to slow to 1.5 percent, from 1.7 percent.

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Volvo to put cameras and sensors in its cars to tackle drunk driving



Volvo Cars is set to install in-car cameras and sensors to monitor drivers for signs of intoxication and distraction.

The firm said the technology will be used to monitor drivers and, when needed, enable the car “to intervene if a clearly intoxicated or distracted driver does not respond to warning signals and is risking an accident involving serious injury or death.”

Actions the car could take include limiting speed to slowing down and then parking the car in a safe place. Installation of the technology will start in the early 2020s.

Wednesday’s announcement represents the latest attempt by the company to boost the safety of its vehicles. At the beginning of March, it announced it would introduce a 180 kilometers per hour (112 miles per hour) speed limit on all its cars from 2020.

“When it comes to safety, our aim is to avoid accidents altogether rather than limit the impact when an accident is imminent and unavoidable,” Henrik Green, Volvo Cars’ senior vice president, research and development, said in a statement Wednesday.

“In this case, cameras will monitor for behavior that may lead to serious injury or death,” Green added.

The system, Volvo Cars said, will be on the lookout for a range of potentially dangerous behaviors. These include drivers who display a “complete lack of steering input for extended periods of time” or have their eyes closed or off the road for long periods. Technology will also monitor “excessively slow reaction times” and “extreme weaving across lanes.”

According to the National Highway Traffic Safety Administration (NHTSA), nearly 30 people in the U.S. die each day because of drunk driving crashes. There were 10,874 deaths in the U.S. from drunk driving crashes in 2017, the NHTSA adds.

“There are many accidents that occur as a result of intoxicated drivers,” Trent Victor, professor of Driver Behaviour at Volvo Cars, said. “Some people still believe that they can drive after having had a drink, and that this will not affect their capabilities. We want to ensure that people are not put in danger as a result of intoxication.”

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Teen pays college fees by naming Chinese babies



“A lot of people ask me how I have time to name all these babies,” said Jessup. “Much like Google has time to find everything for everyone all at once, I use an algorithm.”

The website works by asking users to choose five characteristics from a list of 12 that they would most like their child to embody. An algorithm then selects three gender-specific names matched to those five characteristics. Users are then encouraged to share the three suggestions with their friends and family — there’s a direct link to Chinese messaging app WeChat on the site — to help them settle on their favorite and avoid any “cultural mistakes.”

The process takes just three minutes.

“I provide three appropriate names for the parent to choose from and I encourage them to involve their friends and family in this decision,” said Jessup.

Initially, Jessup provided the service for free. But after naming 162,000 babies, she introduced a fee of 60 pence (79 cents).

At the time of writing, the site has named 677,929 babies. By CNBC Make It’s estimations, that amounts to revenues of £309,557.40 (around $407,443).

Jessup noted in an interview with that those earnings have gone toward paying her university fees, investing in property and, of course, paying back her father’s loan — with interest.

As for the website, it is largely self-sufficient, requiring just a small team in China to manage its technical operations.

“I still update the database each month, but the business is fully automated, allowing me to focus full-time on my studies,” said Jessup, who is studying social anthropology at the London School of Economics.

Beau said she is currently in negotiations with a company who “shares my vision for Special Name” and wishes to purchase the business. Meanwhile, she plans to use the experience for future business endeavors.

“I hope to use what I have learned from Special Name so that I can add value to other businesses,” said Jessup.

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This 26-year-old dropout is saving people big bucks with her blockchain business – and she isn’t betting on bitcoin

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