MGM Resorts chairman and CEO Jim Murren has told the company’s board that he is stepping down, prior to his contract ending, the company announced Wednesday. He will serve in his role until a successor is appointed, it said. Murren has been CEO since 2008, and he has been with the casino operator since 1998.
A logo is displayed next to a gas turbine at the General Electric Co. (GE) energy plant in Greenville, South Carolina, U.S., on Tuesday, Jan. 10, 2017. General Electric Co. is scheduled to release earnings figures on January 20. Sharrett / Bloomberg / Getty Images The Trump administration may stop exporting jet engines manufactured partly
A pedestrian walks past a stock ticker at a Fidelity Investments office in Boston, Massachusetts. Brian Snyder | Reuters Thanks to record-breaking markets and more retirement savings, the number of 401(k) and IRA millionaires has reached a new record, according to Fidelity. Fidelity, the largest 401(k) provider in the United States, released its quarterly analysis
Goodboy Picture Company A hot tax-advantaged opportunity is making the rounds among financial advisors. Just make sure you don’t overlook the risks. The Tax Cuts and Jobs Act, which went into effect in 2018, established so-called qualified opportunity zones — economically disadvantaged areas across the country. Funds specializing in qualified opportunity zones allow people to
A stretch of stores along the base of Munjoy Hill had open signs out and were ready for business as part of small business Saturday, November 28, 2015. Gabe Souza | Portland Press Herald | Getty Images When Miguel Sanchez, 29, started driving for Uber in 2012 after dropping out of Glendale Community College in
This is a live blog. Please check back for updates. Total confirmed cases: More than 64,000Total deaths: At least 1,380 9:03 am: Virus risk to US is ‘very low,’ but that could change ‘rapidly,’ Azar says The American public’s risk of getting infected with the new coronavirus is “very low” but that could change “rapidly,”
Cisco reported fiscal second-quarter results that beat analysts’ estimates on Wednesday, but investors were not impressed with the company’s continuing revenue declines, and the stock is now trading down around 4% after hours. Here are the key numbers: Earnings: 77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts,
Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., speaks during an event at the SpaceX launch facility in Cameron County, Texas, U.S., on Saturday, Sept. 28, 2019. Bronte Wittpenn | Bloomberg | Getty Images Tesla‘s stock has piqued the interest of professional and retail traders alike as they try
A man runs past the New York Stock Exchange (NYSE). Bloomberg The portfolio manager who helps run a mutual fund that consistently beats the market and its peers said the key to his success is being able to wait for stocks to pop. The D.F. Dent Premier Growth Fund, which has returned over 15% annually
Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland. Scott Taetsch | Getty Images Sport | Getty Images Adrian Peterson is heading to arbitration against Morgan Stanley Wealth Management over an investment dispute, the latest
Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania. Jennah Moon | Bloomberg | Getty Images Simon Property Group is on a buying spree as America’s mall operators grapple with declining foot traffic and some struggle to keep their doors open. The biggest mall owner in the U.S. is close to
Marijuana plants grow in the Mother Room at the Canopy Growth Corp. facility in Smith Falls, Ontario, Canada, on Tuesday, Dec. 19, 2017. Chris Roussakis | Bloomberg | Getty Images Canopy Growth said on Friday it will focus on reducing costs as the pot producer struggles with a slump in weed prices from oversupply and
U.S. consumer sentiment figures for February came in higher than expected despite the recent outbreak of the coronavirus. The University of Michigan’s consumer sentiment index came in at 100.9 for February. Economists polled by Dow Jones expected February consumer sentiment to come in at 99.5. Consumers’ assessment of current economic conditions were virtually unchanged from
Elon Musk, chief executive officer of Tesla Inc., speaks during a ceremony at the company’s Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020. Qilai Shen | Bloomberg | Getty Images Tesla priced its secondary common stock offering at $767 a share, raising more than $2 billion, the company said on Friday. The move will
Netflix, Apple TV and Prime Video. egadolfo I signed up recently for a clothing subscription service called NUULY. The company lets you wear six items a month for $88. But what the service provides me feels deeper. For that fee, I can arrive to a date in a $860 designer coat, which wouldn’t normally be
An employee uses a flash grinder to smooth out the metal frame of a sports utility vehicle (SUV) on the production line at the General Motors Co. (GM) assembly plant in Arlington, Texas. Matthew Busch | Bloomberg | Getty Images Automakers working to restart manufacturing in China amid the coronavirus outbreak are trying to prevent
Simon Dawson | Bloomberg | Getty Images AstraZeneca forecast a likely slowdown in revenue growth this year, assuming a hit from China’s coronavirus epidemic lasting up to a few months, although it added there had been limited disruption to its operations so far. Shares in the company, one of the world’s major drugmakers, tumbled as
Wall Street used to be full of traders. Buying and selling stocks or bonds used to happen on the phone, in person or in the packed trading pits in Chicago, New York and London. Prestigious investment banks boasted of trading desks the size of football fields. Now, they’re losing money on trading operations and laying
Andre Iguodala, Golden State Warriors and author. Adam Jeffery | CNBC Andre Iguodala has built a reputation that goes far beyond his on-court defense. The three-time NBA champion also has amassed an investment portfolio of more than 40 companies. Iguodala has invested in Allbirds, Casper and Jumia, but he told CNBC on Friday his best
Many Americans seem to be addicted to income tax refunds, even though financial planners often advise having less tax withheld from your pay throughout the year as the better way to manage your cash flow. Nearly two-thirds of taxpayers — more than 111 million Americans — received a refund from the Internal Revenue Service last