A whopping 50 attorneys general have launched an investigation into Google's "potential monopolistic behavior" in the online ad and search markets. That's 48 states (not including California and Alabama) plus the District of Columbia and Puerto Rico. Google has already been whacked with the antitrust hammer several times in Europe and elsewhere. Fortune
Moody's has downgraded Ford's bonds to Ba1, a junk rating, due to low cash flow and a poor profit margin outlook—it’s restructuring at a time of sectoral weakness. However, Fitch and S&P still have Ford at an investment-grade BBB rating. Wall Street Journal
Today's the day that Jack Ma relinquishes his role as Alibaba chairman, handing over to current CEO Daniel Zhang. Ma is the first of his generation of Chinese tech entrepreneurs to step down. He is expected to now devote his time to philanthropy and education. BBC
SoftBank and WeWork
SoftBank is reportedly urging investee WeWork to back away from its looming IPO, due to investors being less than keen to throw money at the lossmaking property outfit. WeWork's valuation keeps slipping, and bankers currently have it at somewhere between $15 billion and $20 billion, which is nowhere near the $47 billion valuation it enjoyed at its last private funding round. Financial Times
Two decades after big data entered the lexicon, many companies are still not making the most of their analytics, according to a Deloitte study. Those with a holistic model where all employees are responsible for data are more likely to exceed goals.
AROUND THE WATER COOLER
Prime Minister Boris Johnson lost another two votes last night, making it a straight six defeats—an historically bad start to a British administration. Now the law compels him to: ask the EU for an extension by the end of October, in the absence of a Brexit deal; publish the government's no-deal contingency plans; and reveal the private correspondence that led up to his five-week suspension of Parliament (which is now in effect). He also lost his second bid to call a general election in October. Johnson maintains he will not ask for that extension. CBS News
Meanwhile, Theresa May's chief Brexit negotiator, Olly Robbins, is to become a managing director in Goldman Sachs' investment banking division. Few people are as well-versed in the intricacies of Brexit as Robbins. City AM
The Spanish telecommunications giant Telefonica reportedly plans to cut around 5,000 staffers from domestic workforce by offering voluntary redundancy to all employees over the age of 53. Like other European telcos, Telefonica is struggling with a highly competitive market. Bloomberg
Saudi Aramco's Saudi listing will take place very soon, CEO Amin Nasser said today. Nasser also said a secondary international listing would still take place—but, as ever, it's unclear when or where. CNBC
This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.