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Uber picks Expedia boss as CEO

AP Photo/Paul Sakuma

Uber has picked Expedia CEO Dara Khosrowshahi as its next chief executive, as first reported by Recode and confirmed by Axios. A formal announcement could come as early as tomorrow.

Why it matters: Uber is the most highly-valued, pre-IPO tech startup in history — with dozens of venture capital firms (and their investors) having already baked in its success. It also has become one of Silicon Valley's most contentious corporate soap operas, while continuing to generate billions in revenue by having helped revolutionize global transportation.

Backstory: Coming into the weekend, there were two official finalists: Khosrowshahi and General Electric chairman Jeff Immelt. But Immelt got the sense by this morning that he didn't have enough support on the Uber board — despite (or perhaps because of) backing from former Uber CEO Travis Kalanick — and formally withdrew from consideration. That seemed to only leave Khosrowshahi, but multiple sources say that Hewlett-Packard CEO Meg Whitman reemerged as a serious contender, despite also having publicly bailed on the process late last month after her name leaked. In fact, Whitman was still in the mix as of early afternoon on Sunday.

Bio: Khosrowshahi has been CEO of Expedia since 2005, most of which time the travel site was part of IAC/InterActiveCorp (it spun out independently in 2005). Before that he served in other executive roles with IAC, and also spent time as an investment banker with Allen & Co. He currently sits on the boards of Fanatics and The New York Times Co.

Fun fact: Expedia was founded and initially led by Rich Barton, who once was a partner with Benchmark Capital — the VC firm that is Uber's largest outside shareholder, and the one suing Kalanick for fraud.

What's next? Uber is still missing a slew of senior positions, including chief financial officer, chief operating officer and global head of operations. It also needs to name an independent board chair, per an accepted recommendation of Eric Holder's recent report into sexual harassment and other negative aspects of Uber's corporate culture.

The story has been updated with the correct date Expedia was spun off.

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Trump: Transgender people "disqualified" from the military

SecDef Jim Mattis and Gen. Joseph Dunford.
Secretary of Defense Jim Mattis and Gen. Joseph Dunford. Photo: Andrew Harrer-Pool / Getty Images

President Trump late Friday issued an order disqualifying most transgender people from serving in the military.

"[T]ransgender persons with a history or diagnosis of gender dysphoria -- individuals who the policies state may require substantial medical treatment, including medications and surgery -- are disqualified from military service except under certain limited circumstances."

Why it matters: Anything short of an inclusive policy for transgender troops will be viewed as a continuation of the ban Trump announced on Twitter in August.

Haley Britzky 3 hours ago
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Both Bush and Obama also requested line item veto power

Donald Trump.
Photo: Mark Wilson / Getty Images

President Trump tweeted on Friday evening that to avoid having "this omnibus situation from ever happening again," he wants Congress to re-instate "a line-item veto."

Why it matters: This would allow him to veto specific parts of a bill without getting rid of the entire thing. Trump was deeply unhappy with the $1.3 trillion spending bill approved by Congress early Friday morning, but signed it anyway on Friday afternoon.