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BREAKING NEWS

Google shares rise on news of company shake-up

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Google shares rise on news of company shake-up

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Google on Monday announced a major re-organisation of its business structure.

The internet giant is creating a holding company called Alphabet, which will contain subsidiaries to separate its core web advertising business from newer ventures like driverless cars.

The move is being seen as an attempt to let the search engine focus on its more creative and ambitious projects.

Shares in the company rose seven percent in after hours trading.