In just 17 days after launch, Temu surpassed Instagram, WhatsApp, Snapchat and Shein on the Apple App Store in the U.S., according to Apptopia data shared with CNBC. Stefani Reynolds | Afp | Getty Images Temu and Shein have exploded in the U.S. by going on an online marketing blitz and offering consumers inexpensive goods … Read more
Nasdaq closes at record high, Paramount streaming service on the block, ‘Roaring Kitty’ takes 6.6% Chewy stake Johannes Eisele | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
The Dow Jones Industrial Average rose about 3.8% in the first six months of the year, lagging way behind the Nasdaq, up 18.1%, and the S&P 500, which jumped 14.5% — as investors plowed into artificial intelligence-related stocks. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC … Read more
People wearing protective face masks walk past the closed Nike store on 5th Avenue during the outbreak of Covid-19 in New York City on May 11, 2020. Mike Segar | Reuters Nike CEO John Donahoe appears to be on thin ice. The former top executive of eBay, who has been at the helm of Nike … Read more
Ford Motor is turning an abandoned train station used for decades as an infamous symbol of Detroit’s downfall and blight into a new technology campus for the automaker and mixed-use property for the city. Michael Wayland / CNBC DETROIT – Ford’s latest project out of the Motor City is the restoration and reopening of an abandoned … Read more
Trustly CEO Johan Tjarnberg. Trustly The boss of Swedish financial technology startup Trustly says an initial public offering for the company is still a year or two away from happening, even after a 51% jump in operating profit. In an exclusive interview with CNBC, Johan Tjarnberg, CEO of Trustly, said that his firm still needs … Read more
An M&M’s advertisement seen on a gas pump. Courtesy: GSTV The next frontier for the ad market isn’t on TV — it’s in stores and on your phone. Television had long been the key target for advertisers, until tech companies like Alphabet and Meta-owned platforms like Facebook began to gobble up market share. While ad … Read more
The StubHub logo is seen at its headquarters in San Francisco. Andrej Sokolow | Picture Alliance | Getty Images StubHub is eyeing a summer initial public offering, a person familiar with the matter told CNBC. The online ticketing service is aiming for a valuation of at least $16.5 billion, which is what it was valued … Read more
Ericsson announced it is planning to cut jobs as part of its cost-cutting measures. Nurphoto | Nurphoto | Getty Images Ericsson announced on Monday that it will lay off about 1,200 employees in Sweden as the telecommunications company faces slowed demand for its 5G equipment. The company said the downsizing is part of a broader … Read more
The Google office in New York on February 2, 2023. Ed Jones | Afp | Getty Images Allison Croisant, a data scientist with about a decade of experience in technology, was laid off by PayPal earlier this year, joining the masses of unemployed across her industry. Croisant has one word to describe the process of … Read more
