Nissan executive resigns amid investigation of ex-Chairman Ghosn

Nissan executive resigns amid investigation of ex-Chairman Ghosn

Nissan Chief Performance Officer Jose Munoz, who took a leave of absence a week ago, has resigned, the first high-profile departure at the Japanese automaker publicly acknowledged as related to the arrest of former Chairman Carlos Ghosn. Munoz said in a statement on LinkedIn Saturday he made the decision after serious thinking because the company was “involved in matters that have and will continue to divert its focus,” referring to Ghosn’s case. Munoz is among…

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Nissan top executive resigns amid broadened investigation of ex-Chairman Ghosn

Nissan top executive resigns amid broadened investigation of ex-Chairman Ghosn

One of Nissan Motor‘s top executives has resigned, further rattling the Japanese automaker’s management team as it broadens an investigation into ousted Chairman Carlos Ghosn’s alleged financial misconduct. Jose Munoz, widely considered as a close ally to Ghosn and a possible successor to lead the automaking partnership between Nissan and France’s Renault, had been a “person of interest” in Nissan’s widening internal investigation. The 53-year-old, who was Nissan’s chief performance officer and head of its…

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SpaceX plans to lay off 10% of its workforce

SpaceX plans to lay off 10% of its workforce

SpaceX is planning on trimming its workforce, a company spokeswoman told CNBC. The company said it sees “extraordinarily difficult challenges ahead” and therefore needs to “become a leaner company.” The Los Angeles Times first reported that the Hawthorne, California-based company would be laying off about 10 percent of its staff. According to its website, SpaceX employes more than 6,000 people. Read SpaceX’s full statement below: “To continue delivering for our customers and to succeed in…

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GM will be ‘extremely profitable’ for the foreseeable future, says former exec Bob Lutz

GM will be ‘extremely profitable’ for the foreseeable future, says former exec Bob Lutz

The good news for General Motors should continue for a while, its former vice chair, Bob Lutz, told CNBC on Friday. The largest U.S. automaker said Friday its full-year 2018 earnings will exceed previous expectations and that 2019 is looking even better. GM shares closed up 7 percent on the news. “The product pipeline is full. It’s fresh. It’s all in the right part of the market,” Lutz said on “Closing Bell.” “Unless we have…

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Chinese consumers are taking sides in the trade war and that’s bad news for US companies: Cramer

Chinese consumers are taking sides in the trade war and that’s bad news for US companies: Cramer

Chinese consumers are starting to “take sides” as the U.S.-China trade dispute rages on, and that could hamper the success of some U.S. companies, CNBC’s Jim Cramer said Friday. Perhaps it already is: U.S. tech giant Apple recently warned that its fiscal first-quarter results would miss expectations due to weaker-than-anticipated iPhone sales in China. Then, earlier on Friday, Goldman Sachs downgraded the stock of Starbucks, citing “a number of points of caution” in the Chinese…

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Cramer’s game plan: Entering earnings season with more risk ‘than I’d like’

Cramer’s game plan: Entering earnings season with more risk ‘than I’d like’

Even though the stock market has recovered from its late 2018 lows, Wall Street might not be in the clear as it enters its next earnings season, CNBC’s Jim Cramer warned on Friday as stocks ended the week higher. “Next week, we find out if this move’s been warranted based on earnings, not merely hope,” he said. “Fortunately, most stocks are still well off their highs, but they’ve rebounded enough that there’s a lot more…

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A GoFundMe campaign raised $20 million for a border wall—now all of the funds will be returned

A GoFundMe campaign raised $20 million for a border wall—now all of the funds will be returned

The U.S. government shutdown has now lasted 21 days, tying for the longest shutdown in U.S. history. If it continues to Saturday, it will be the longest. Much of the shutdown can be attributed to a standoff over President Donald Trump’s demands for $5.7 billion in appropriations to fund a wall along the U.S.-Mexico border. In December, Brian Kolfage, a veteran and self-described motivational speaker, launched an ambitious GoFundMe campaign to raise $1 billion for…

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After third week of gains, stock market nears ‘wall of resistance’ level that everyone is watching

After third week of gains, stock market nears ‘wall of resistance’ level that everyone is watching

Stocks are quickly closing in on an important level that some traders believe could make or break the market’s post-Christmas bullish run. The S&P 500 is poised to take aim at an extremely important level in the coming week. The 2,600 level has sucked in all sorts of market watchers — technicians and non-technicians alike — who are waiting to see if the S&P can cross above that threshold and move higher, a sign to…

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Government shutdown hits DC restaurants, but some are offering free food and other deals

Government shutdown hits DC restaurants, but some are offering free food and other deals

Amid the government shutdown, restaurants are starting to feel the pinch. The partial shutdown entered its 21st day Friday, tying it with the 1995-1996 shutdown as the longest in U.S. history. And it doesn’t look like there is an end in sight, with Democrats refusing to capitulate to President Donald Trump‘s demands for a $5.7 billion border wall. About 800,000 federal workers are on temporary leave or working without pay due to the shutdown. The…

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Costco is selling a $90 tub of mac-and-cheese that weighs 27 pounds and lasts 20 years

Costco is selling a $90 tub of mac-and-cheese that weighs 27 pounds and lasts 20 years

College students and survivalists rejoice: Costco is selling a 27-pound tub of mac-and-cheese with a shelf life of two decades for $89.99. Unfortunately it’s not available in stores. (“A 27-pound bucket of macaroni and cheese?” said one employee over the phone. “No.”) It’s also intermittently out of stock on Costco.com. As of mid-afternoon on Friday, it’s sold out. If it remains that way, you can also find it for $149.99 on Amazon, although stock appears…

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