Nightly Business Report — September 18, 2014

Tonight on Nightly Business Report, a shake-up at the top of Oracle. Larry Ellison, co-founder and long-time CEO, steps down as Chief Executive Officer. And, Alibaba, which could be the largest IPO ever, is expected to price tonight and begin trading tomorrow.

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Today’s stock stories: CLX, JBLU, CAG, RAD, SHLD, AMZN & KR.

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Oracle CEO Larry Ellison.

Oracle said Larry Ellison, its co-founder and longtime CEO, will be stepping down, effective immediately. Ellison, who is believed to be the fifth-wealthiest man in the world, will be replaced by Mark Hurd and Safra Catz, Oracle said. In an unusual move, Hurd and Catz will both be named CEO of the company—not co-CEOs. Ellison will become …

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Workers distribute packs at an express company on November 12, 2012 in Wuhan, China.

Although Alibaba Group has been cracking down on vendors using its online marketplaces to sell counterfeit goods, consumers aren’t likely to be any safer after the company’s initial public offering. Counterfeiters are finding new ways of moving their goods. Brand protection firms, which hunt down fake versions of clients’ products online, say Alibaba Group has made big …

Luke Sharrett | Bloomberg | Getty Images
Subcontractors work on a house under construction at a Norton Commons residential subdivision in Louisville, Kentucky, Aug. 15, 2014.

Construction of single family homes and multifamily apartments fell by over 14 percent in August from June, a far more striking plunge than analysts expected. Single family housing starts are running at about half the normal, prebubble pace, and single family building permits, an indicator of future construction, are flat. So how is it that …

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Traders work on the floor of the New York Stock Exchange.

What can markets expect when Alibaba starts trading? This is the biggest question on trading desks for the past several days. I don’t make predictions on where stocks will trade, but there are several reasons I am optimistic that Alibaba—at whatever price—will open to the upside and stay there on its first day. Here are a few reasons why, …

Chris Ratcliffe | Bloomberg | Getty Images

With uncertainties surrounding the independence referendum, anxious investors in Scotland have been busy adding to their holdings of gold. Online dealer BullionByPost, which claims to be the biggest online gold dealer in the U.K., said that it saw a 37 percent jump in sales to customers from Scotland between Sept. 9 and Sept. 16, a bigger …

Scott Eelis | Bloomberg | Getty Images

IBM is slashing the salaries of some of its employees for not keeping their skill set sharpened, according to a report from ComputerWorld. Read More Companies’ plan to boost workers’ pay Selected employees in IBM’s Global Technology Services strategic outsourcing group received a memo on Friday stating “that some managers and employees have not kept pace with acquiring the …

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Apple CEO Tim Cook speaks during an Apple special event at the Flint Center for the Performing Arts on September 9, 2014 in Cupertino, California. Apple is expected to unveil the new iPhone 6.

The CEO of Apple appeared to make a rather critical commentary of some of the tech giant’s Silicon Valley rivals on Wednesday with Apple unveiling its new privacy policy in an open letter to customers. In the message, signed by Tim Cook and uploaded to Apple’s website late Wednesday, Apple said that its business was to sell …

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Showing up to work high? You’re not alone. A new report has found nearly 1 in 10 Americans are showing up to work high on marijuana. Mashable.com conducted the survey in partnership with SurveyMonkey, and found 9.7 percent of Americans fessed up to smoking cannabis before showing up to the office. The data analyzed the marijuana and …

Adam Jeffery | CNBC

Target confirmed that it will hire 70,000 seasonal workers this holiday, the same number as in 2013. In an email to CNBC, the company said it will issue a release with more details later Thursday. That information could include a breakdown of how many workers will be at the company’s distribution centers versus on its sales …

Brent Lewin | Bloomberg | Getty Images
Alibaba Group's founder and executive chairman, Jack Ma, waves as he arrives for a meeting at the Ritz-Carlton hotel in Hong Kong.

Alibaba‘s initial public offering will unleash a flood of wealth for founder Jack Ma and his partner Joseph Tsai. But unlike some other recent tech IPOs, the big money isn’t being spread around the company. According to regulatory filings, Ma’s 206.1 million shares could be worth between $13.6 billion and $14 billion at an estimated share price …

Eskaylim | Getty Images

Saving is about discipline, and the best way to save is to start small and be consistent. To figure out how much you can save, you need to first identify where you spend your money and develop a financial plan or budget that can help build long-lasting savings. In fact, you’ll be surprised how quickly …

Future of education: End of University as we know it?

What might a college education look like 25 years from now? What will the student body look like? And what could be the impact of rising tuition costs and the current student loan bubble? In the final installment of our three-part series on the future of education, Sharon Epperson gives us a glimpse into the …

House passes funding bill

Democratic and Republican lawmakers may be on the same page, with the U.S. House of Representatives voting on a bill to fund the government into the next fiscal year, beginning October 1. But there’s a lot more than keeping Washington’s lights on in this congressional resolution.