10 things you need to know today: July 17, 2012

HSBC may have allowed money laundering, Marissa Mayer will lead Yahoo, and more in our roundup of the stories that are making news and driving opinion

A new Senate report alleges that HSBC bank worked with companies with ties to Mexican drug cartels, terrorists, and other criminals and failed to prevent money-laundering violations.
(Image credit: Andrew Burton/Getty Images)

1. GOOGLE'S MAYER HEADS TO YAHOO

In a move that shocked the tech world, Google's Marissa Mayer, 37, announced Monday that she is leaving the tech giant to be Yahoo's new CEO. Mayer was Google's 20th hire and its first female engineer. She is credited with giving Google's search engine homepage its clean, modern aesthetic. She also oversaw the launch of a number of Google's biggest services, including Gmail, Google Maps, and iGoogle. Commentators and Silicon Valley insiders say she could be just what struggling Yahoo needs. One tech writer noted that Mayer, "could legitimately make Yahoo respectable again. At the very least, she will command attention." [CNN]

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