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☆ Shopify says AI has helped keep its head count flat
▼ + stars: | 2024-05-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Shopify executives said during the company's first-quarter earnings call on Wednesday that its head count has stayed flat for the past three quarters and that using AI has been a major contributing factor. Shopify has been touting its "new shape" since it sold its logistics business and laid off 20% of its workforce in May 2023. This story is available exclusively to Business Insider subscribers. It's also found efficiencies by using AI throughout the company. Internal AI tools have also allowed Shopify to offer multilingual support 24/7, whereas it was previously offered only during set working hours.

Persons: Shopify, We've, Harley Finkelstein, It's, Jeff Hoffmeister, Hoffmeister, crafters, —, Charlie Miner Organizations: SEC, Business, Shopify's Locations: mstone@businessinsider.com

☆ Shopify president on Q1 results: Seeing the strongest version of Shopify in our 20-year history
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify president on Q1 results: Seeing the strongest version of Shopify in our 20-year historyShopify president Harley Finkelstein joins 'Squawk on the Street' to discuss the company's quarterly earnings results, Q2 guidance, strength of the consumer, growth outlook, and more.

Persons: Harley Finkelstein

☆ Shopify warns on margins and posts big quarterly loss, sending shares plunging premarket
▼ + stars: | 2024-05-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Shopify stunned investors after reporting a surprise loss for the first three months of the year. The e-commerce platform posted a $273 million loss for the first quarter. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementShopify shares plunged almost 20% in premarket trading after the e-commerce giant sunk into the red for the first three months of the year.

Persons: Shopify, —, Harvey Finkelstein Organizations: Service, Shopify

☆ Columbia president Minouche Shafik faces criticism in all directions
▼ + stars: | 2024-04-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees. University of Pennsylvania president Liz Magill and Harvard University president Claudine Gay both stepped down in the wake of pressure over their response to antisemitism on campus. They say the crackdown on student protests, which resulted in more than 100 arrests, violated academic freedom. “I am here today, joining my colleagues and calling on President Shafik to resign if she cannot immediately bring order to this chaos,” Johnson said. Last week, Shafik authorized the New York Police Department to sweep the “Gaza Solidarity Encampment” on Columbia’s campus.

Persons: Minouche Shafik, Shafik —, Liz Magill, Claudine Gay, Shafik, Alexandra Ocasio, Cortez, Mike Johnson, “, ” Johnson, ”, James Finkelstein, “ She’s, ” Finkelstein, Grayson Kirk, Kirk, Columbia’s Hillel, Robert Kraft Organizations: New, New York CNN, Columbia, Trustees, Representatives, World Bank, International Monetary Fund, Bank of England, London School of Economics, Hamas, College, University of Pennsylvania, Harvard University, New York Police Department, Democratic, Republican, George Mason University, ” Columbia’s, Police, NYPD, of Education, Harvard, Department, Education, ” New England Patriots Locations: New York, Israel, Vietnam, Harlem, Gaza, Columbia’s, Columbia, ”

☆ January 6 rioters want the Supreme Court to let them off the hook from obstruction charge
▼ + stars: | 2024-04-16 | by ( John Fritze | Hannah Rabinowitz | ) edition.cnn.com time to read: +10 min

Now, the Supreme Court will consider whether the prosecutors’ interpretation of the law can be used against the rioters and whether the convictions already secured will stick. The charge at issue in the Supreme Court case stems from a law Congress enacted in response to a series of corporate accounting scandals, including the 2001 Enron debacle. The case before the Supreme Court involves only that last charge. All three defendants appealed to the Supreme Court, but the justices granted only Fischer’s case. In a filing last week at the Supreme Court in Trump’s immunity case, Smith argued the obstruction charge should stick against Trump even if Fischer wins.

Persons: Donald Trump, Jack Smith, Trump, ”, Claire Finkelstein, ” Trump, Fischer, Stormy Daniels, “, Joe Biden’s, Critics, Joseph Fischer, texted, ” Fischer, Nicholas Smith, Smith, Randall Eliason, Clarence Thomas, Ginni Thomas, Thomas, Ruth Bader Ginsburg, Samuel Alito, Eliason, Antonin Scalia, ” Eliason Organizations: CNN, Capitol, ” Prosecutors, Trump, Justice Department, University of Pennsylvania Carey Law School, Enron, Prosecutors, Appeals, DC Circuit, George Washington University, White Locations: Pennsylvania, New York, ”, Colorado

☆ Shopify has poached at least two dozen employees from Salesforce as it pushes into enterprise e-commerce
▼ + stars: | 2024-04-04 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

Holly Dresden joined Shopify as head of enterprise merchant success in December after six years with Salesforce Commerce Cloud. Evan AgostiniAs it moves further into enterprise, Shopify hasn't always been subtle about zeroing in on Salesforce as a competitor. It recently launched a webpage comparing its platform with Salesforce Commerce Cloud, encouraging merchants to "join the mass migration" of brands moving from Salesforce to Shopify. But winning over enterprise retailers requires a different approach, and it's one where Salesforce has more years of experience than Shopify. Talking the enterprise talkPoaching employees from Salesforce isn't the only way Shopify has made an effort to win over enterprise customers.

Persons: —, Shopify, Kal Stephen, Holly Dresden, Everlane, Marc Benioff, Evan Agostini, hasn't, Michael Affronti, we've, Affronti, Shopify's, Salesforce, We've, It's, Rick Watson, Watson, Demandware, Oppenheimer, Ken Wong, Wong, Harley Finkelstein Organizations: Service, Salesforce Commerce, Business, Salesforce, Adobe, SAP, Mattel, Commerce, RMW Commerce Consulting, Accenture, IDC, Manhattan Associates Locations: Salesforce, Demandware

☆ Recessions Actually Make People Live Longer
▼ + stars: | 2024-03-19 | by ( Aki Ito | ) www.businessinsider.com time to read: +6 min

Recessions, it would seem, help us stay fitter, and live longer. The new paper, along with other research into recessions, provides an important reminder that economic growth isn't — and shouldn't be — the only measure of our collective well-being. If recessions save lives, that comes with a corollary: Boom times cost lives. Sure, economic growth provides jobs. If the new research tells us anything, it's that we still have a long way to go in striking a healthy balance between economic growth and social welfare.

Persons: grads, Amy Finkelstein, didn't, that's, Aki Ito Organizations: Business Locations: Japan, San Francisco

☆ Income investors hate dividend cuts, but here's why they could provide an attractive opportunity in some cases
▼ + stars: | 2024-03-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Dividend stocks usually take a hit when they decrease their payouts, but investors may not want to count some of them out, according to Morgan Stanley. While many companies instituted large dividend decreases, there are several that announced dividend cuts of 30% or less. Shares of Annaly are up 1% in 2024, and the dividend yield is 13.3%. That's about a 20% quarter-over-quarter decrease, per Morgan Stanley. Shares are up 10% this year, and they offer a dividend yield of 0.4%.

Persons: Morgan Stanley, Todd Castagno, Castango, Russell, David Finkelstein, Raul Jacob Ruisanchez Organizations: Annaly Capital Management, Southern Locations: Southern

☆ Looking for dividend income? Jim Cramer says consider this beverage giant's stock
▼ + stars: | 2024-02-14 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Overall, it was an "unbelievably good quarter," Jim said. Coca-Cola : The beverage giant's fourth-quarter earnings met Wall Street expectations, while sales exceeded analyst projections. I think that stock works its way higher over time," Jim said. Meanwhile, Uber announced a $7 billion stock buyback program, which Jim called "really nice." It was a very good quarter," Jim said.

Persons: Jim Cramer, Harley Finkelstein, Jim, David Risher's, Uber, Kraft, Oscar Mayer Organizations: Management, Kraft Heinz, Robinhood

☆ Shopify President Harley Finkelstein talk B2B business
▼ + stars: | 2024-02-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify President Harley Finkelstein talk B2B businessShopify President Harley Finkelstein joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, the ecommerce space and more.

Persons: Harley Finkelstein, Jim Cramer

☆ Shopify President says international business is a 'massive area of growth'
▼ + stars: | 2024-02-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Shopify President Harley Finkelstein told CNBC's Jim Cramer on Tuesday how the e-commerce platform is bolstering its global business. "International is a massive area of growth for us," Finkelstein said. Shopify has also expanded its customer base beyond smaller merchants, serving brands such as Everlane, Nike Strength and Oscar de la Renta, he added. The company is also focused on business-to-business sales, working with wholesalers such as HVAC outfit Carrier . Shopify reported quarterly earnings before Tuesday's open, beating Wall Street's expectations but sending shares down due to mixed guidance for the current period.

Persons: Harley Finkelstein, CNBC's Jim Cramer, Finkelstein, Shopify, Oscar de la Organizations: Suntory, Nike Locations: Swedish, Shopify

☆ Jim Cramer calls Shopify's financial guidance 'quizzical' after such a strong quarter
▼ + stars: | 2024-02-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Tuesday that Shopify investors are searching for clues after the company's financial outlook fell short of expectations, tanking shares despite a positive quarter. Shopify reported fourth-quarter earnings before the opening bell, delivering strong year-over-year revenue growth and healthy profitability. But it was management's lower-than-expected margin guidance for the fiscal 2024 first quarter that weighed on shareholder confidence and sent the stock 10% lower in Tuesday trading. But he added that management's guidance was "quizzical" given the company's solid financial results for the quarter and after its strong run last year. SHOP 1Y mountain Shopify 1 year Cramer will speak with Shopify President Harley Finkelstein on "Mad Money" on Tuesday evening to drill down on the quarterly results and the guide.

Persons: CNBC's Jim Cramer, tanking, Shopify, Cramer, Harley Finkelstein

☆ Shopify President Harley Finkelstein goes one-on-one with Jim Cramer
▼ + stars: | 2024-02-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify President Harley Finkelstein goes one-on-one with Jim CramerShopify President Harley Finkelstein joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, the ecommerce space and more.

Persons: Harley Finkelstein, Jim Cramer

☆ Upstart digital news outlet The Messenger shuts down less than a year after launch
▼ + stars: | 2024-01-31 | by ( Oliver Darcy | ) edition.cnn.com time to read: +1 min

CNN —The Messenger, the upstart digital publication that hired hundreds of journalists and vowed to upend the news industry as a centrist outlet, will shut down less than a year after its high-profile launch, a person familiar with the matter said. The collapse of the outlet, founded by media entrepreneur Jimmy Finkelstein, came as it tried to survive severe financial woes and broader industry headwinds. Staffers at the outlet learned of its shuttering from The New York Times, which broke the news on its demise Wednesday afternoon, a person familiar with the matter told CNN. “The economic headwinds have left many media companies fighting for survival,” he said. “Unfortunately, as a new company, we encountered even more significant challenges than others and could not survive those headwinds.”

Persons: Jimmy Finkelstein, Finkelstein, ”, ” Finkelstein, “ Organizations: CNN, The New York Times Locations: ”

☆ The Messenger to Close After Less Than a Year
▼ + stars: | 2024-01-31 | by ( Benjamin Mullin | ) www.nytimes.com time to read: +1 min

The Messenger, a news website that pledged to shake up the media industry with a playbook borrowed from the doomed publishing start-ups of yesteryear, will be closing down. In an email to staff, the site’s founder, Jimmy Finkelstein, said that The Messenger’s shutdown was “effective immediately.”“This is truly the last thing I wanted, and I am deeply sorry,” Mr. Finkelstein wrote. By closing less than a year after it launched, The Messenger will now be one of the biggest busts in the annals of online news. And its collapse is the most substantial blow in recent months to the news industry, which is reeling from an unrelenting series of cutbacks. The organization hired about 300 people, including journalists with experience at such publications as Politico, Reuters, NBC News and The Associated Press, who joined the company in the hopes that it would deliver on its promise to introduce an important new nonpartisan voice to the American news landscape.

Persons: Jimmy Finkelstein, Mr, Finkelstein Organizations: Politico, Reuters, NBC News, Associated Press

☆ Startup news site The Messenger shutters less than a year after its launch
▼ + stars: | 2024-01-31 | by ( Chloe Melas | Doha Madani | ) www.cnbc.com time to read: +1 min

The Messenger, a startup digital news website that launched in May, is shutting down after reports that it was running out of money, an executive at the outlet who has been briefed on the matter told NBC News on Wednesday. The Messenger launched in May with Jimmy Finkelstein, who previously owned The Hollywood Reporter and The Hill, at the helm. It promised to provide "thorough, objective, non-partisan, and timely news coverage" in a time of bias and misinformation. Earlier this month, Semafor reported that The Messenger's board was considering shutting down the website as the outlet was set to run out of funds by the end of January. A day before staff were informed they were now without jobs, The New York Post reported that Finklestein was working to secure deals to inject new revenue into The Messenger to keep the site going.

Persons: Jimmy Finkelstein, Semafor, Finklestein, Conde Nast Organizations: NBC News, Hollywood, New York Post, Los Angeles Times, Forbes, Time, Sports Illustrated, Tech Crunch, Business

WEST PALM BEACH, Fla. (AP) — The Messenger, an ambitious online news site that billed itself as a nonpartisan digital outlet and spent some $50 million ratcheting up its business effort, abruptly shut down Wednesday after only eight months in operation. In his email, Finkelstein said he hadn't shared the news with employees earlier because he had been trying desperately to raise enough funds to become profitable “literally until earlier today." “We exhausted every option available,” Finkelstein wrote, saying he was “personally devastated.”The Messenger website carried only its name and an email address Wednesday night. Planned cuts also have sparked walkouts by employees at other venues, including the New York Daily News and Forbes magazine. The Messenger was launched last May and spent heavily — some would say excessively, given the current media climate — in hopes of becoming a media heavyweight.

Persons: Jimmy Finkelstein, Finkelstein, hadn't, ” Finkelstein, “, ambitiously, Critics, Jonah Peretti, he'd, ” Organizations: The New York Times, Los Angeles Times, Sports Illustrated, Business, New York Daily News, Forbes, Associated Press, Washington D.C Locations: BEACH, Fla, New York, Washington, Florida

The Messenger, the struggling news media startup co-founded by publishing veteran Jimmy Finkelstein, is urging potential investors to make a long-shot bet on a dramatic rebound in advertising this year. CNBC has obtained an investor deck The Messenger was using as recently as late December to entice potential individuals or companies to infuse it with $20 million. The Messenger ended 2023 with a net loss of $43 million, according to the documents. Comscore latest numbers show that we generated 88 million page views in November, and Google Analytics shows that we generated 100 million page views in December. Our traffic is growing at 30% a month, already putting us ahead of many major news publications," the company spokesperson said in a statement to CNBC.

Persons: Jimmy Finkelstein Organizations: CNBC, The New York Times, Google Analytics

☆ Penguins arguing, a sleepy polar bear, and a happy turtle are in the running for wildlife photo of the year, and you can vote on them
▼ + stars: | 2023-12-05 | by ( Maiya Focht | ) www.businessinsider.com time to read: +2 min

You can vote for the Wildlife Photographer of the Year People's Choice Award. The Natural History Museum in London released the images, and will exhibit them in February. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This photo is one of 25 currently up for consideration as the public's favorite wildlife photo of 2023. If you want to see them all, and vote for your favorite, you can do so here.

Persons: —, Tzahi Finkelstein Organizations: Wildlife, Service, Croatian Herpetological Society Locations: London, Asia, Europe

☆ Elon Musk, Bill Gates, and 'kings' would pay $1B for Mar-a-Lago, Trump expert to testify at NY fraud trial
▼ + stars: | 2023-12-01 | by ( Laura Italiano | ) www.businessinsider.com time to read: +7 min

Trump plans to call Palm Beach real-estate broker Lawrence Moens at his NY fraud trial next week. Moens has sworn Elon Musk, Bill Gates, and "kings" would pay $1B for the club, where he's a member. Donald Trump allegedly inflated the value of his Palm Beach resort in financial documents by as much as $714 million. He knows Donald Trump, Jr., and Ivanka Trump, who he testified was "a very lovely person." Advertisement"I don't see Donald Trump enough or spend enough time with Donald Trump to call him a friend," he answered.

Persons: Trump, Lawrence Moens, Moens, Elon Musk, Bill Gates, OK'd Moens, —, Donald Trump, it's, Letitia James, Lago, Arthur Engoron, he'd, Kevin Wallace, James, Wallace, I'm, Donald Trump's Mar, Charles Trainor Jr, Alex Finkelstein, Eric Trump, Donald Trump , Jr, Ivanka Trump, I've Organizations: Palm, Service, Mar, New, Trump, Trump's, Elon, Miami Herald, Tribune, Getty, AG, Trump Organization Locations: New York, Palm, Lago, Palm Beach , Florida, Trump

☆ Shopify's Harley Finkelstein on Black Friday record: What we're seeing is the power of the consumer
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify's Harley Finkelstein on Black Friday record: What we're seeing is the power of the consumerShopify president Harley Finkelstein joins 'Squawk on the Street' to discuss the company's breaking its Black Friday record, after customers hit $4.1 billion in sales, holiday season shopping outlook, and more.

Persons: Shopify's Harley Finkelstein, Harley Finkelstein Organizations: Black

☆ After strong e-commerce sales during Black Friday, Jim Cramer explains how new technology enables success of smaller businesses
▼ + stars: | 2023-11-27 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday lauded the success of e-commerce merchants during Black Friday, suggesting that new technology and online services has helped small and medium-sized businesses turn profits. Cramer cited data from Shopify President Harley Finkelstein, who said the e-commerce platform saw $4.1 billion in sales on Black Friday, up 22% from last year. Shopify helps merchants build online stores, offering a variety of services, including shipping and inventory management, for around $39 per month. Owners are are empowered by new, fairly accessible tools that help them succeed despite an economy burdened by the Federal Reserve's rate hikes, Cramer said. There are a number of companies that allow small businesses compete with larger ones by offering services at reasonable prices, such as website designer Wix.com , Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Harley Finkelstein, Wix.com, Twilio Organizations: Federal, Intuit, Social Locations: Black

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Walt Disney Studios in Burbank, California, U.S., August 22, 2023. Striking writers and actors slashed spending, burned through savings and piled up debt to survive. Sets for movies and TV shows are lighting up again as studios rush to resume filming. Still, Hollywood is unlikely to return to the frenzied production pace of the streaming wars, when studios competed for subscribers and cachet. Hollywood actors won similar gains in a tentative agreement reached with the studios on Nov. 8.

Persons: Mario Anzuoni, caterers, Wall, Celia Finkelstein, ” Finkelstein, “, Serena Kashmir, ”, Fran Drescher, Kevin Klowden, ” Klowden, Long, Marc Meyer Jr, I’ve, Meyer, Guy Bisson, Neil Begley, Ampere, Dawn Chmielewski, Danielle Broadway, Lisa Richwine, Mary Milliken, David Gregorio Our Organizations: Writers Guild of America, Walt Disney Studios, REUTERS, Companies Comcast Corp, Fox, Netflix, Hollywood, Reuters, WGA, SAG, Milken Institute, Sony Pictures, Disney, Global, Ampere, Moody’s, Companies, “, Thomson Locations: Burbank , California, U.S, California, Georgia, New Mexico, Hollywood, ” Kashmir, Kashmir, Colorado, North Hollywood, Los Angeles

☆ Why Gen Zers skip their lunch break
▼ + stars: | 2023-11-15 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Gen Z workers are most likely to skip lunch at least once a week, a survey found. Seven in 10 Gen Z workers report they don't take lunch at least once a week. That's compared with about half of millennial workers and four in 10 Gen Xers who skip lunch. Of course, not all Gen Zers skip lunch. Beyond what a lunch break does for us at work, eating at the right times can boost health, according to scientists.

Persons: —, Gen Zers, Xers, Zers, They're, Gen Z's, Diane Swint, Swint, TikToker Brittany Finkelstein, ezCater, it's Organizations: Service, Boomers, Business Locations: Sweetgreen, New York City

☆ Shopify's new marketplace takes a markedly different approach than Amazon's
▼ + stars: | 2023-11-07 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Like on the app, shoppers using the new site can search for and purchase products from across Shopify's merchant base. Shop Cash can only be redeemed on Shop. The app and website also display special offers from merchants where shoppers' Shop Cash rewards are multiplied. Shopify's web app and Shop app before it are as much marketplaces as Amazon," Juozas Kaziukėnas, CEO of e-commerce intelligence firm Marketplace Pulse, told Insider. We're not disclosing just yet, but the Shop app is becoming much more popular," company president Harley Finkelstein said in response.

Persons: Shopify, Rick Watson, Watson, they've, Siti Panigrahi, Harley Finkelstein Organizations: Google, RMW Commerce Consulting, Cash, Shopify, Shoppers, Shop, Mizuho Securities, LTV, Amazon

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