Billionaire Kirk Kerkorian, a school dropout who built Las Vegas’ biggest hotels, tried to take over Chrysler, and bought and sold MGM at a profit three times, has died aged 98.

Wall Street ended a winning week with a quiet advance today as investors awaited the release of March employment figures and remained cautiously optimistic after their recent buying streak.

Wall Street ended a record-breaking week quietly today, edging lower after the Labour Department said US employers added far fewer jobs than expected last month. The major indexes all scored big gains for the week.

Stocks slumped in the United States today as the Bush administration said the country’s economy would likely grow at a slower pace than forecast six months ago – an assessment that eclipsed positive corporate news and lower oil prices.

US stocks closed higher today as investors were emboldened by decent earnings, a handful of mergers and billionaire investor Kirk Kerkorian’s bid to substantially add to his stake in General Motors.