Other News

Cramer: I was wrong about Jack Dorsey—the Twitter and Square CEO ‘deserves a lot more credit’

It’s no secret that CNBC’s Jim Cramer has long thought that Jack Dorsey, the CEO of both Twitter and Square, needs to stop splitting his time between the two companies. The “Mad Money” host would go from questioning how Dorsey could run two companies at once to calling him a “part-time CEO,” arguing that he should focus on running one company, not two. “And you know what? I was dead wrong,” Cramer said Monday. “Jack Dorsey has been doing a dynamite job at both companies. And because I’m a big believer in accountability, I’ve gotta tell you: Dorsey deserves a lot more credit than he’s been getting.” In a sweeping mea culpa, Cramer admitted that Dorsey has pulled off running two separate, complicated companies at t...

Elon Musk hosts a Boring flamethrower party

Elon Musk handed out the first of the Boring Company’s signature flamethrowers at a party in Hawthorne, California, over the weekend. Lucky purchasers of the Boring-branded flamethrower — officially deemed “Not-a-Flamethrower” for legal reasons, according to the CEO — were invited to pick up their orders and test the devices Saturday. Musk tweeted the first 1,000 of 20,000 sold would be available for pickup. Attendees roasted marshmallows, from a safe distance, and posed for photos in front of an appropriately charred backdrop. The Boring Company tweeted several of the images, captioning the tweet with only the fire emoji. The gadgets are an encore to the company’s signature hats — and a little closer to blow torches. The company sold 20,000 units — or $10 million w...

Fed will ignore G-7 trade spat and announce new rate hikes, economist says

The Federal Reserve is due to announce another rate hike this Wednesday and won’t take any notice of the spat between the U.S. and its Western allies over trade tariffs, an economist told CNBC Monday. Market players are monitoring the rhetoric surrounding trade between the U.S. and the other six world-leading economies after divergences at the Group of Seven (G-7) summit over the weekend. U.S. President Donald Trump revoked his support for a joint statement after the meeting, following comments from Canadian Prime Minister Justin Trudeau. The latter said though he did not want to “punish American workers”, he would be pressing ahead with retaliatory tariffs against the U.S. As a result, President Trump called Trudeau “dishonest and weak” and warned the other G...

Kate Spade’s legacy: She reimagined the style of the quintessential American woman

The polka-dot studded handbags of the Kate Spade accessories line wasn’t always in the glamorous store-front windows of SoHo; for the namesake designer, her luxury handbag business began in an apartment attic. Spade’s accessories line was known for its quintessential pop of color and bright patterns, and it was the originality of Spade’s business model that allowed the entrepreneur to carve out a foothold in the well-established world of luxury handbag brands. The 55-year-old designer was found dead Tuesday in an apparent suicide, hanging from a red scarf on a bedroom door. Although she is best known for her quirky handbags, Spade was also remembered in the fashion industry for her business model and rags-to-riches origins. Spade’s eponymous brand skyrocketed after ...

New Italian economy minister vows to stay in euro, cut debt level

Italy’s government has no intention of leaving the euro and plans to focus on cutting debt levels, looking to boost growth through investment and structural reforms rather than deficit spending, the new economy minister said. In his first interview since taking office a week ago, Giovanni Tria told Corriere della Sera newspaper that he aimed to meet existing debt targets for 2018 and 2019, adding that Italy’s debt commitments were fully sustainable. “Our goal is (to lift) growth and employment. But we do not plan on reviving growth through deficit spending,” Tria said, adding that he would present new economic forecasts and government goals in September. “These will be fully coherent with the objective of continuing on the path of lowering the debt/GDP ratio,&...

Cramer Remix: After this stock’s monster move, wait to pounce

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Houzz’s 3D app significantly increases odds consumers buy on the platform

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Verizon’s CEO shift sign it’ll lead in 5G: Oath CEO Armstrong

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Pixar co-founder John Lasseter to leave Disney permanently after ‘missteps’

John Lasseter, the animation titan who has been on leave from the Walt Disney Company since November because of what he called “missteps” that made some staff members feel “disrespected and uncomfortable,” will not return to the conglomerate. Disney said on Friday that Mr. Lasseter — the co-founder of Pixar Animation Studios who has long been one of Disney’s most important creative executives, serving as a force behind the “Toy Story,” “Cars” and “Frozen” franchises — would take on a consulting role at the company until the end of the year and then leave permanently. He will not have an office in the interim. Mr. Lasseter, 61, served as chief creative officer of Pixar and the separate Walt Disney Animation studio. Disney did...