Pinterest CEO Ben Silbermann is stepping down and the stock is up

Longtime Pinterest CEO Ben Silbermann is stepping down, the company announced Tuesday. Shares jumped more than 5% in after-hours trading. Bill Ready, who was previously in charge of Google’s commerce business, is taking over the helm, effective Wednesday. Prior to joining Google, Ready was executive vice president and chief operating officer of PayPal. He’d been … Read more

Forget Klarna? Investors bet new startups will in ‘buy now, pay later’

Klarna is in talks to raise funds at a sharp discount to its last valuation, according to a report from the Wall Street Journal. A spokesperson for the firm said it does not comment on “speculation.” Jakub Porzycki | NurPhoto via Getty Images With hype over the “buy now, pay later” trend fading, some investors … Read more

FCA investigates Wise CEO Kristo Kaarmann over tax default

Kristo Kaarmann, CEO and co-founder of Wise. Eoin Noonan | Sportsfile | Getty Images The CEO of £ 3.9 billion ($ 4.8 billion) fintech firm Wise is being investigated by UK regulators after tax authorities found he failed to pay a tax bill worth over £ 720,000. Kristo Kaarmann, who co-founded Wise in 2011, was … Read more

Companies forced to weigh in on privacy, health care

Pro-choice activists are seen outside the US Supreme Court in Washington, DC on June 15, 2022. Mandel Ngan | AFP | Getty Images The challenges posed by the end of Roe v. Wade are only just beginning for corporate America. By overturning the abortion precedent Friday, the U.S. Supreme Court set off a series of … Read more

These are the most oversold stocks in the S&P 500 due for a bounce

Certain stocks have become so oversold during this brutal bear market that they are long overdue to bounce. With stocks on Tuesday snapping back a bit after weeks of big losses, CNBC Pro set to find the stocks most overdue for a rebound. We looked for the shares trading the farthest from their average price … Read more

A recession will test buy now, pay later providers. What it will take to survive

Buy now, pay later services grew up during a time of economic stability, with demand ballooning in the early days of the pandemic as bored consumers shopped to break the doomscrolling cycle. The services — Affirm , Afterpay, Klarna and more — allowed shoppers to purchase new patio furniture, comfy clothing and other goods they … Read more

Brex drops small business customers as Silicon Valley adjusts to new reality

Brex Co-Founder & CEO Henrique Dubugras speaks onstage during TechCrunch Disrupt San Francisco 2019 at Moscone Convention Center on October 02, 2019 in San Francisco, California. Steve Jennings | Getty Images Brex, the Silicon Valley lender to start-ups, is dropping tens of thousands of small business customers to focus on bigger venture-backed clients, according to … Read more

CNBC’s ‘Halftime Report’ traders answer your questions

On Thursday’s “Ask Halftime,” our traders answered questions from CNBC Pro subscribers about stocks and ETFs during this market downturn, including whether to buy, sell or hold PayPal and Devon Energy. Other investments mentioned by the traders include AMD and Nvidia.

The next frontier for buy now, pay later is plastic

In the face of rising inflation, higher interest rates and slowing economic growth, there’s more competition than ever for consumers’ dollars – and even how their purchases are made. During the pandemic, most shoppers showed a preference for buy now, pay later when it came to payment and still do: Installment buying has exploded in … Read more

Klarna CEO defends business despite massive losses and layoffs

Klarna CEO Sebastian Siemiatkowski has defended his company’s business model and the controversial “buy now, pay later” industry. Klarna lets consumers buy things that they might not necessarily be able to afford at that moment in time. Its 150 million customers pay a relatively small amount up front and pay back the rest later. In … Read more