For the fourth time in its 110-year history, the Indianapolis Motor Speedway will be changing owners. Hulman & Company is selling the race track other assets to Penske Entertainment Corp., owned by businessman Roger Penske. The deal includes the racing circuit, NTT IndyCar Series and Indianapolis Motor Speedway Productions. Parent company Penske Corp., which is privately owned, manages more than $32 billion in assets for businesses operating in more than 3,200 locations with more than 64,000 emp

E. Jean Carroll at her home in Warwick, NY. Carroll claims that Donald Trump sexually assaulted her in a dressing room at a Manhattan department store in the mid-1990s. Trump denies knowing Carroll. Carroll’s suit, reported first by The Washington Post, is one of several that has been filed against Trump in connection with his denials of allegations about sexual misconduct. Carroll claimed in a New York magazine article in June that Trump had raped her in a dressing room at Bergdorf Goodman in l

Jeff Lawson, founder, CEO and chairman of Twilio, speaks at a press conference during the Mobile World Congress on March 1, 2017 in Barcelona, SpainCloud communications company Twilio just re-reported its full-year forecast, after the company messed up the math the first time around. Twilio’s full-year earnings per share guidance is now expected to between 12 cents and 13 cents, instead of the 16 cents to 17 cents originally reported alongside its third-quarter earnings. It appears the company j

Goldman Sachs is betting on a Silicon Valley start-up that’s seeking to modernize the systems underpinning the credit-card industry. The bank is lead investor in a $50 million round in Deserve, a firm that offers credit-cards directly to nontraditional consumers with little credit history and other deficiencies using a cloud-based platform to determine their creditworthiness. The company, which started out as SelfScore in 2013, initially targeted international students who couldn’t get tradition

Despite poor showings against his Democratic rivals in national polls, President Donald Trump appears deadlocked with his potential opponents in a handful of pivotal states about a year before the 2020 presidential election, according to new surveys. The surveys signal those states could swing either way: nearly every lead a candidate holds falls within the survey’s margin of error. In addition, Biden, Warren and Sanders appear to be in better position in hypothetical matchups against Trump in t

Shares of McDonald’s fell Monday, after the fast-food giant announced it has fired CEO Steve Easterbrook for having a relationship with an employee. The stock, which has a market value of $149 billion, was trading down more than 2% Monday. After taking the helm of McDonald’s in 2015, Easterbrook led a turnaround of the company, leading the value of its stock to nearly double. Under Easterbrook, McDonald’s increasingly turned its attention to technology. Piper Jaffray analyst Nicole Miller Regan

The Dow Jones Industrial Average jumped to a record on Monday, bringing its gain on the year to nearly 18%. But Morgan Stanley has a message for investors: Don’t expect anything near this return for the next 10 years. The next decade could be a dismal one for both stocks and bonds, according to Morgan Stanley, which ran analysis on what current valuations for asset classes means for future returns historically. The traditional investor portfolio — which is made up of 60% stocks and 40% bonds — w

Start on the slopes of SwitzerlandThe trip begins at the foot of the Matterhorn in the iconic Alpine resort of Zermatt. This tiny, walkable mountain village in Switzerland offers 360 kilometers (224 miles) of ski runs, including those at Matterhorn Glacier Paradise. Guests of this trip stay at the Schweizerhof Zermatt hotel, a mountain retreat that is part of the Small Luxury Hotels of the World collection. Estimated stay: five nights in Whistler, two nights in Vancouver, four nights in remote B

Out of more than 5.1 million electric cars on the roads globally, nearly two million electric cars were sold in China, Europe and the U.S. last year. The International Energy Agency is aiming to increase the share of electric vehicles globally to 30% by 2030. Chinese automakers Beijing Electric Vehicle and BYD, U.S. electric carmaker Tesla and Japan’s Nissan were the top producers. Together, they manufactured approximately 560,000 of the world’s fully electric cars. Shenzhen in China is one of t

The head of Iran’s nuclear program says that Tehran is working on a prototype centrifuge that’s 50 times faster than those allowed under the nuclear deal with world powers. The comments by Ali Akbar Salehi on Monday came as Iranians mark the 40th anniversary of the 1979 U.S. Embassy takeover and start of the 444-day hostage crisis. Salehi says the prototype is called an IR-9 and that it would be as 50-times faster than the first-generation IR-1s allowed under the accord. The nuclear deal limited

The euro, currently used in 19 European countries, was introduced in 1999 and under EU rules every member of the wider political bloc should ultimately adopt the single currency. EU states, both in and outside the euro zone, should admit that the euro has been a strategic error,” he wrote. European countries, mainly those that share the euro, were severely hit by the sovereign debt crisis of 2011. In 2014, the European Central Bank told politicians in Budapest that a draft law that would apply s

Ryanair’s CEO Michael O’Leary said that rival airline Norwegian is bound to go bust sooner or later, claiming that the company is “doomed.” Never one to mince his words, O’Leary told CNBC Monday that the rival budget European airline Norwegian was saddled “with enormous debts.” Asked whether he thinks Norwegian is going bust, O’Leary referenced Norwegian’s decision to sell aircraft this year. “They’re now resorting to selling the aircraft to raise 50 million bucks, which wouldn’t pay the fuel bi

The Volkswagen Group officially started series production of its ID.3 electric car Monday, with the German auto giant aiming to become a world leader in the growing field of e-mobility. A ceremony, held at Volkswagen’s Zwickau plant, was attended by CEO Herbert Diess and German Chancellor Angela Merkel, among others. In an announcement on its website, Volkswagen described its “electric offensive” as “picking up speed.” The Zwickau facility is currently undergoing a conversion from being a 100% i

The rise of the love hotel — Korea’s latest $1 billion businessLove hotel bookings app Yanolja has just become South Korea’s latest $1 billion start-up. But what has everyone so hot for love hotels? CNBC Make It’s Karen Gilchrist heads to Seoul to find out.

Markets point to higher open amid cautious optimism of US-China trade progress41 Mins AgoU.S. stock index futures were higher Monday morning with market sentiment is largely linked to U.S.-China trade relations. CNBC’s Rahel Solomon reports.

Jeff Conaway, Olivia Newton-John, John Travolta and Stockard Channing in a still from ‘Grease’Olivia Newton-John’s iconic outfit from the final scene of the movie “Grease” has sold at auction for more than $400,000. The all-black ensemble, which the actress was famously sewn into to shoot the scenes, fetched a combined $405,700 at the sale in Beverly Hills on Saturday. Other items in the sale included Newton-John’s custom “Pink Ladies” jacket, which sold for $50,000, and the pink gown she wore t

Under Armour’s quarterly earnings and sales topped analysts’ estimates, but the company on Monday morning trimmed its revenue outlook for the full year, citing “traffic challenges.” The retailer’s shares were plunging more than 15% in premarket trading, after news broke Sunday evening that the company is caught up in an accounting probe. Under Armour has allegedly used bad accounting practices to make its finances look healthier. Under Armour confirmed it has been cooperating with the U.S. Secur

The Boeing 737 Max aircraft has the potential to be a “game changer” despite its delayed return to service following safety concerns, Ryanair CEO Michael O’Leary said Monday. The first of Ryanair’s 737 Max orders was due in January, but the embattled aircraft has faced repeated delays. Speaking in a video presentation Monday morning, O’Leary said the carrier had now reduced its expectation of 30 737 Max aircraft being delivered for the summer of 2020 down to 20, adding that there is a “real risk

Wealthy Americans stand to gain from Obamacare’s demise. The rich will likely receive billions in tax cuts if the health-care law is overturned, according to a new analysis published Monday from the Center on Budget and Policy Priorities, a Washington think tank. The nation’s top 0.001%, the 1,409 U.S. households with annual incomes over $53 million, would receive a combined $3.8 billion in tax cuts if the law is overturned, according to the report. Most of these tax cuts would go to households

Adding Japan to the German-run Europe, one gets a quarter of the world economy that wants to live off exports – which amount to $1.1 trillion dumped on the U.S. and China in 2018. China is considered key to Japan’s trade, investments and economic growth, despite tensions caused by seemingly intractable disputes. During the January to August period, the European Union reported a 102.7 billion euro trade surplus with the U.S., and a 127.4 billion euro trade deficit with China. Germany accounted fo