Samsung exec explains why the company’s folding phones are so important to its business

Samsung Galaxy Z Fold 4 Samsung The head of Samsung’s mobile business, Roh Tae-moon, recently explained to The Wall Street Journal why folding phones are so important to the company’s business. Roh said in the report that Samsung’s foldable phones are attracting three times more brand switchers than Samsung’s regular Galaxy S phones. That means people are moving away from other phone makers, whether it’s Apple, Xiaomi or Oppo, and instead buying Samsung phones. “We consider this to be a quite meaningful percentage and a positive sign,” Roh told The Wall…

Read More

Popular meditation app maker Calm reportedly lays off 20% of employees

Edward smith | Getty Images The popular meditation startup Calm, known for its wellness app of the same name, has laid off 20% of its staff, according to The Wall Street Journal, which viewed a memo sent by CEO David Ko to employees on Thursday. Roughly 90 out of 400 Calm employees were laid off, according to the Wall Street Journal. Founded in 2012, the San Francisco-based startup was valued at $2 billion in 2020. “I can assure you that this was not an easy decision, but it is especially…

Read More

Your iPhone can identify any song with just a tap. Here’s how to set it up

Taylor Swift Christopher Polk | Getty Images Your iPhone has a useful feature you might not know about. You can identify the song that’s playing on the radio at a bar, in your car or at a friend’s house, all without having to open an app. All you have to do is swipe down and tap a single button. It’s part of the iPhone’s (and iPad’s) integration with music-recognition service Shazam, which Apple acquired in 2018. It’s been available for a couple years but might be more useful now that…

Read More

How to pick the best MacBook so you’re not overspending for what you don’t need

A new MacBook Air running M2 chip is seen displayed during Apple’s annual Worldwide Developers Conference in San Jose, California, June 6, 2022. Peter Dasilva | Reuters Apple has five MacBook computers to choose from, which might be a little daunting if you’re in the market for a new laptop as we hit back-to-school season. There’s the new MacBook Air, for example, but Apple also sells its older 2020 MacBook Air. Then there are three different MacBook Pro computers to pick from. Your choice will depend on what you use…

Read More

Biden senior advisor Anita Dunn has to divest investment portfolio worth between $16.8 million and $48.2 million to avoid conflicts

White House senior advisor Anita Dunn is being forced to divest an investment portfolio worth an estimated $16.8 million to $48.2 million that ethics attorneys say poses significant conflicts of interest in her new role. The political and communication’s strategist will also have to recuse herself from a myriad of domestic and international issues that affect her former clients. Dunn’s newly released financial disclosures, which are 93 pages long, show extensive stock, options, bond and private equity holdings — a fortune she and her husband, veteran attorney Bob Bauer, have…

Read More

Huawei’s second quarter revenue rises slightly from a year ago

Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Pictured here on July 8, 2022, is a Huawei flagship store in Shenzhen, Guangdong province of China. Jade Gao | Afp | Getty Images BEIJING — Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Huawei has come under pressure in the last few years from U.S. sanctions. Last year, Huawei reported its first annual revenue decline on record. However, the company’s latest figures showed…

Read More

Pinterest’s plan to better compete with TikTok, Shopify and Instagram

A banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange on the morning that Pinterest makes its initial public offering on April 18, 2019. Spencer Platt | Getty Images In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. Before Pinterest, if someone wanted to compile images of their favorite things, of a new idea, or plan out the visuals of their next aspiration, they had to turn to finding clips in magazines and…

Read More

Rivian posts second-quarter revenue above estimates, but expects a wider loss for the year

Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.  Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive maintained its full-year guidance for deliveries Thursday and reported second-quarter revenue that was higher than Wall Street expected. But it trimmed its full-year financial outlook, saying that investors should now expect a wider loss and lower capital expenditures than it had previously forecast. Here are the key numbers from Rivian’s second-quarter report, compared with average Wall Street…

Read More

Marqeta shares plunge more than 20% on CEO exit and ‘cautious’ expectations for coming months

Marqeta celebrates IPO at the Nasdaq on June 9th, 2021. Source: The Nasdaq Shares of payment processor Marqeta tumbled 24% on Thursday after founder Jason Gardner announced plans to step down as CEO, and the company said it’s being cautious given the challenges in the economy and fintech sector. Gardner started Marqeta in 2010 and grew it into a company that was worth over $16 billion after its stock market debut last year. However, the stock is more than 75% off its high, and the broader tech market swoon has…

Read More

4 takeaways from the Investing Club’s ‘Morning Meeting’ on Thursday

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. July’s soft PPI is welcome news for growth stocks Disney just crushed it Quick mentions: QCOM, AAPL, DIS, AMZN We need to be nimble in oil 1. July’s soft PPI is welcome news for growth names Stocks rose for a second consecutive day on the heels of yet another softer-than-expected key inflation reading. The July producer price index declined from June, dropping 0.5% compared to…

Read More