World News

Disney CEO Bob Iger resigns from Apple’s board

Inside Treasury Secretary Steven Mnuchin's Park Avenue duplex on sale for $27.5 million

The Park Avenue home of U.S. Treasury Secretary Steven Mnuchin has had a price drop: The Manhattan duplex is now listed at $27.5 million.

The apartment was originally listed in September 2018 at $32.5 million. The price was then reduced to $29.5 million in January, according to Realtor.com.

The five-bedroom, six-and-a-half bathroom residence was built in 1929 by James T. Lee, grandfather of Jacqueline Kennedy Onassis, according to the listing. The home has since been renovated.

Take a look inside.

The residence has many living spaces, a formal dining room and a library.

The eat-in kitchen is large by New York City standards.

The master suite has a wood-burning fireplace, a dressing room and a bathroom with marble accents.

Mnuchin, who previously worked in finance, is worth $400 million, according to Forbes. 

Listing agents Judy Kloner and Carol Lederman declined to comment on the property or price cut.

Like this story? Like CNBC Make It on Facebook.

Don't miss:

  • Uber billionaire Travis Kalanick bought a $36.4 million NYC penthouse—take a look
  • Meryl Streep's NYC penthouse is on sale for $18.25 million—take a look inside
  • Alex Rodriguez sells Hollywood Hills home (at a loss) for $4.4 million

MoviePass-parent Helios & Matheson is set to shut down permanently on Saturday

MoviePass Inc.’s parent Helios & Matheson Analytics Inc. HMNY, -10.00% is set to close its business permanently on Saturday and is considering a sale of its assets, including its Moviefone and MoviePass Films business. Attempts to revive the embattled subscription-movie service have apparently failed, with the company on July 4 announcing that its service would be temporarily interrupted in order to work on an "improved version" of its mobile app Inc. The decision was a bad omen as it came during the busiest time for the movie business. In March, Helios & Matheson raised some $6 million in financing to support MoviePass, including its technology. The once-highflying company had lost nearly all of its value over the past year. Shares of HMNY, a reference to the company’s trading symbol, are down 89% so far in the 2019, according to FactSet data. By comparison, the S&P 500 index SPX, -0.07% is up nearly 20% so far this year and the Dow Jones Industrial Average DJIA, +0.14% is up 16.7% over the same period. HMNY acquired MoviePass in 2017, a service with just 20,000 subscribers at the time. The operator cut MoviePass’s monthly fee to $9.95 from up to $50 a month, and its subscriber base ballooned, crossing the 3-million mark in June of 2018, MarketWatch reported last year. However, the burden of delivering cheap movies proved challenging for the company.

Stocks end mostly lower as Dow extends eight-day streak of gains

U.S. stocks closed mostly lower on Friday after easing trade tensions and central bank policy moves briefly buoyed investor sentiment earlier in the day. The S&P 500 SPX, -0.07% was down less than 0.1% to end near 3,007. The Dow Jones Industrial Average DJIA, +0.14% advanced 36 points, or 0.1%, to finish around 27,219, based on preliminary numbers.The Nasdaq Composite COMP, -0.22% fell 0.2% to end near 8,177. The blue-chip Dow clinched its eighth consecutive gain, its longest such streak since 2018. Both the Dow and the S&P remain less than a percentage point away from their all-time highs set in July. Retail sales rose faster than expected in August, increasing by 0.4%. Investors also saw signs that Washington and Beijing were moving towards a more constructive stance on trade negotiations. The European Central Bank announced a full stimulus package on Thursday, including rate cuts and the restart of an open-ended bond purchasing program.

Disney CEO Bob Iger leaves Apple after announcing competing streaming service

Disney CEO steps down from Apple’s Board of Directors

Disney’s CEO Bob Iger is leaving Apple’s Board of Directors, some say because Disney’s streaming service will compete directly with Apple TV+.

Bob Iger is no longer on Apple’s board of directors.

Continue Reading Below

The Disney CEO resigned from the post of the tech giant on Sept. 10, after filing with the Securities and Exchange Commission, according to The Hollywood Reporter. The action coincided with the same day that Apple unveiled details on its Apple TV+ streaming service which will be in direct competition with Disney's recently announced online service Disney+.

“I have the utmost respect for Tim Cook, his team at Apple and for my fellow board members," Iger said in a statement about his departure. "Apple is one of the world’s most admired companies, known for the quality and integrity of its products and its people, and I am forever grateful to have served as a member of the company’s board.”

CLICK HERE TO READ MORE ON FOX BUSINESS

Iger’s tenure ends after 8 years. He joined the board in 2011 and chaired the corporate governance committee and was on the compensation board.

Iger remains as CEO of Disney where he has been in charge since 2005 and is no longer on any other public company boards.

Disney CEO Bob Iger resigns from Apple’s board

Walt Disney Co.’s Chief Executive Robert Iger resigned from Apple Inc.’s board of directors, the tech giant said on Friday, severing a yearslong connection between the two companies as they prepare to launch competing video-streaming services.

He resigned on Tuesday, Apple AAPL, -1.94%  said in a one-sentence filing to securities regulators.

Iger, who has led Disney DIS, +0.38%  since 2005, joined Apple’s board in 2012 and was serving as the nominating-committee chair and on the compensation committee. He had a close relationship with Apple co-founder Steve Jobs, born out of the 2006 sale of Pixar Animation Studios to Disney. Jobs was Pixar’s chairman.

An expanded version of this story appears at WSJ.com.