Jeff Weiner to step down as LinkedIn CEOJeff Weiner will step down as CEO of Linkedin. CNBC’s Julia Boorstin reports.

LinkedIn CEO Jeff Weiner announced his plans to step down from the position on June 1 and become executive chairman. The move amounts to the biggest leadership change at LinkedIn since Weiner took over the company more than a decade ago. In addition to running LinkedIn, Weiner has served on Microsoft’s senior leadership team since the acquisition closed. He worked on an entertainment website there and came up with the business plan for Warner Bros. Online, according to Forbes. Tomer Cohen, who h

Tesla shares under pressure after a two-day, 33% winning streakThe China-built Tesla Model 3 is unveiled at a Tesla store on November 22, 2019 in Shanghai, China. On Monday, Tesla shares soared nearly 20%. Disney also expects to take a $175 million hit from the coronavirus outbreak if its Hong Kong and Shanghai Disney parks were to remain closed for two months. Tomohiro Ohsumi | Bloomberg | Getty ImagesNike said the coronavirus outbreak will have a “material impact” on its operations in China, w

Macy’s is getting out of America’s weakest shopping malls. “We see a bifurcation of malls,” Macy’s CEO Jeff Gennette told investors Wednesday during a meeting at the New York Stock Exchange. As it looks to open some new stores, Macy’s will be growing outside of shopping malls. Macy’s has more than 200 Backstage shops within Macy’s stores today. It will open seven Backstage locations outside of Macy’s stores in 2020, bringing the total of freestanding Backstage shops to 13.

Venezuelan opposition leader Juan Guaido (C) pumps his fist as he is acknowledged by US President Donald Trump during his the State of the Union address at the US Capitol in Washington, DC, on February 4, 2020. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)Venezuelan opposition leader Juan Guaidó is getting a long-sought meeting with President Donald Trump on Wednesday and another show of U.S. support for the Venezuelan people, the White House said. Lawmakers applauded

Wayne LaPierre, chief executive officer of the National Rifle Association (NRA), speaks during the NRA annual meeting of members in Indianapolis, Indiana, U.S., on Saturday, April 27, 2019. A New York regulator on Wednesday filed civil charges against the National Rifle Association (NRA), accusing the gun-rights group of acting as an unlicensed insurance producer and deceiving its members with misleading marketing practices. New York’s Department of Financial Services accused the NRA of having w

Police officers inspect the Pegasus Airlines Boeing 737-86J plane, that overran the runway during landing and crashed, at Istanbul’s Sabiha Gokcen airport, Turkey February 5, 2020. A plane skidded off the runway Wednesday as it tried to land in bad weather in Istanbul, crashing into a field and breaking into pieces. Passengers had to evacuate through cracks in the smashed plane and authorities said 139 people were injured. Video obtained by The Associated Press showed the wreckage of the plane i

Yet Josh Brown, CEO of Ritholtz Wealth Management, says he won’t talk about returns with potential investors until they can tell him specifically why they want to invest. “Once you start defining your goals, an interesting thing happens, you realize that you don’t need to take the maximum amount of risks to hit them,” Brown said. Then, once you have a specific goal in mind, you can work your way backward and come up with a plan to get there. Brown says the goal can be as specific as someone want

Coty — Shares of Coty soared nearly 15% after the beauty company reported better-than-expected earnings. The company posted sales of $11.868 billion, missing a Refinitiv estimate of $11.982 billion. Spotify — Shares of the music streaming company dropped nearly 5% after missing on the top and bottom lines of its fourth quarter earnings. Gilead reported earnings per share of $1.30, missing a Refinitiv estimate of $1.67 per share. The company will report third quarter earnings on Thursday after th

GM’s Enhanced Super Cruise will include automated lane change, which will allow the hands-free system to change lanes on the highway when requested on demand. GMDETROIT — General Motors plans to expand its Super Cruise semi-autonomous highway driver-assist system to 22 vehicles by 2023, including 10 by next year, the company announced Wednesday. GM last month said it’s upgrading the next generation of Super Cruise to feature lane-changing capabilities similar to Tesla’s Autopilot. The automaker

The New York City Commission on Human Rights reached a settlement with Prada USA over a merchandise display that the Commission said used “racist iconography.” The window display was featured at a Prada store in downtown Manhattan in December 2018. Used to showcase items from the luxury retailer’s “Pradamalia” collection, the display included monkey figurines that the Commission said evoked images of Sambo, a racist caricature used to dehumanize black people. As part of the settlement, announced

Several key lawmakers involved in President Donald Trump’s impeachment got big boosts in fundraising in the final quarter of 2019. Schiff’s fundraising bonanza, collected between October and December of last year, overlapped with his leadership role during the House impeachment investigation into Trump’s Ukraine dealings. Like Schiff’s latest fundraising quarter, Pelosi’s fourth-quarter haul represents her most profitable quarter of 2019. Schiff, the chairman of the House Intelligence Committee,

The U.S. is accepting four new planes carrying Americans being evacuated from Wuhan, China, the epicenter of a new coronavirus outbreak that has infected more than 24,300 people across the world, the Centers for Disease Control and Prevention said Wednesday. The four latest evacuation flights come after the first government-chartered flight from Wuhan landed at March Air Reserve Base in Riverside, California, last week. CDC officials announced the mandatory quarantine orders last week. CDC offic

The complaint “underscores how pay-to-play greed and deception have corrupted the ratings and rankings on which consumers increasingly rely to make informed purchasing choices online,” said Rebecca Kelly Slaughter, a commissioner at the FTC. The public has 30 days to comment on the settlement before the regulator decides to finalize it. [The complaint] underscores how pay-to-play greed and deception have corrupted the ratings and rankings on which consumers increasingly rely to make informed pur

Despite a downgrade from Canaccord taking a double-digit chunk out of the stock Wednesday, Tesla is still in the middle of an eye-popping run. If you think those numbers are too big to believe, wait until you hear about the electric-auto maker’s options contracts. Tesla was the most actively traded stock in the options market on Tuesday, trading more than 1.3 million contracts representative of over $105 billion in notional value. Somebody went out and bought 900 of the June 800-strike calls,” K

District of Columbia Attorney General Karl Racine (L) and Texas Attorney General Ken Paxton speak during the launch of an antitrust investigation into large tech companies, outside of the US Supreme Court in Washington, DC on September 9, 2019. The state attorney general leading a broad antitrust investigation into Google is accusing the tech giant of delaying the case and vowed to see it through to the end. In an interview with CNBC on Wednesday, Texas Attorney General Ken Paxton pointed to Goo

“I think that Joe never expected to really win Iowa. Biden, who unsuccessfully ran for president twice before, hopes for strong showings the Nevada caucuses, on Feb. 22, and the South Carolina primary, on Feb. 29. However, the former vice president is polling well behind Sanders in New Hampshire ahead of Tuesday’s primary. “After South Carolina, then this discussion will change if [Biden] he doesn’t show a dramatic change,” said Patricof. Patricof said he was in Iowa about two weeks ago, knockin

Pete Rose petitioned for reinstatement to Major League Baseball on Wednesday, arguing that his lifetime ban from the game is disproportionate in light of the discipline imposed on Astros players for their electronic sign-stealing scheme. A person familiar with the document confirmed to CNBC that the league has received Rose’s petition and is reviewing it. The petition also asks the Hall of Fame to reconsider Rose’s ban. Rose holds several major league records, for, among others, hits (4,256), ga

Analysts caution there’s likely to be more negative headlines on the spread of coronavirus as well as a deeper economic hit to the Chinese economy, but they also say any further impact could also be cushioned by central banks. Global stocks rallied for a third day, as investors reacted to a lack of new shocks about the virus. The economic consequences have not been fully grasped,” said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute. Goldman Sachs economists

Cruise Origin CruiseThe global autonomous vehicle industry is an $8 trillion market opportunity, according to General Motors’ autonomous vehicle unit Cruise. Source: Noah Berger | General Motors”Our goal in the simplest possible terms is to build a superior product,” Ammann said. The shuttle-like, all-electric autonomous vehicle features no manual controls such as a steering wheel or pedals. The shared ride should be quiet, since the Cruise Origin is an all-electric vehicle, too. Ammann did not