Google morphs into Alphabet; investors cheer clarity

August 11, 2015 2:40 AM

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SAN FRANCISCO Google Inc (GOOGL.O) announced a surprise overhaul of its operating structure on Monday, creating a holding company called Alphabet to pool its many subsidiaries and separate the core web advertising business from newer ventures like driverless cars.

The move appeared to be an attempt by the search engine giant to focus on its more creative and ambitious projects, while investors cheered the potential for more financial disclosures of its disparate business segments.

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