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Retail legend Mickey Drexler — known for making Gap cool in the late 80s and early 90s and then reviving J.Crew in the early 2000s as CEO —apparently didn’t pull any punches in a chat with Kanye West on whether the music icon and celebrated clothing designer should partner up with Gap.  “I probably shouldn’t say this but I told him he shouldn’t do the deal because it doesn’t make any sense in my opinion,” said Drexler, now the CEO of specialty apparel retailer Alex Mill, exclusively on Source link

Google’s revised cryptocurrency ads policy went into effect Tuesday, restricting the type of companies that can send ads through its advertising platforms. The company revised its policies in June, and said it would allow companies to begin sending ads through its system in August 2021. The updated policy, intended to … Source link

The Federal Reserve’s number two official said Wednesday that if the U.S. economic recovery progresses as he expects, the central bank could launch its first post-COVID 19 rate hike at the beginning of 2023. Richard Clarida, the Fed’s vice chairman, said that “upside” risks to higher inflation and his expectation for a steady labor market recovery would signal an economy that could be ready for higher short-term interest rates in over a year. Clarida said that he could support lifting… Source link

(Bloomberg) — Grocery delivery giant Instacart Inc. has hired another Facebook Inc. veteran as it shakes up its executive ranks and adds more women to its C-suite ahead of a highly anticipated initial public offering. Carolyn Everson, 49, will serve as president and oversee a wide range of Instacart’s operations including retail, advertising, business development, human resources, legal and partnerships, the company said in a statement. She will begin her new role on Sept. 7. Everson, who… Source link

“I’ve had the privilege of working with Carolyn for a decade and know just how lucky we are to have her leadership and talent at Instacart. Carolyn’s an industry legend, best known for cultivating strong, trusted relationships that drive strategic value for partners. At Instacart, partnerships and relationships are at the heart of everything we do. With more than 600 retail partners and thousands of advertisers helping power our marketplace, Carolyn’s unmatched experience and authenticity… Source link

The big shareholder groups in Yandex N.V. (NASDAQ:YNDX) have power over the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Warren Buffett said that he likes “a business with enduring competitive advantages that is run by able and owner-oriented people.” So it’s nice to see some insider ownership, because it may suggest that management is owner-oriented. With a market capitalization of US$24b, Yandex is rather… Source link

Dive Brief: AES will partner with X, Google’s research and development arm, on electric grid virtualization tools that will help support the corporation’s transition to renewable energy.  The partnership will develop technology to simulate and virtualize AES’ distribution grids in Indiana and Ohio, giving operators a better real-time view of the grid and supporting long-range planning. AES Chief Product Officer and Senior Vice President Chris Shelton said the… Source link

Robinhood (HOOD) was temporarily halted for volatility this morning as the stock spiked 65% in the first minutes of trading. By 10:10 am ET, the stock was up 36%. The upward move comes a day after the investing platform’s stock spiked 24%. The stock price blew past its IPO price of $38 on Tuesday and closed at $46.80, in stark contrast to its public debut last week.  Retail interest could be a contributing factor for the upward move. Robinhood is one of the most mentioned stocks on Reddit’s… Source link

The editor Marty Baron was famously portrayed by Liev Schreiber in the movie “Spotlight,” which chronicles The Boston Globe’s exposure of pervasive abuse by Catholic priests. After leaving The Globe, Baron began another difficult assignment: leading The Washington Post during Donald Trump’s tumultuous presidency. His time at the helm of the paper ended with his retirement in February. In an interview this week for Influencers with Andy Serwer, Baron reflected on Trump’s legacies on the… Source link

A general view of the U.S. Capitol Building on May 14, 2021 in Washington, DC. (Photo by Anna Moneymaker/Getty Images) You’ll be hearing a lot about the debt ceiling in coming weeks. Tune it out. Learn something useful about real ceilings, instead. Or watch the latest Lil’ Nas X video in slo-mo. Or maybe try to get to know Matt Damon. You won’t, but it will still be time better spent than worrying about the debt ceiling. You shouldn’t be reading this story. Stop reading! I just told… Source link