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The Latest Breaking News from Fortune

The American voter is angry about one thing above all and Trump's tariffs are in the crossfire, Goldman's chief political economist says

Cost of living is the issue driving the midterms. Trump calls affordability a "hoax" when Democrats say it, but his tariff regime is showing cracks.

Fortune

Rivian CEO says midprice EV sales are still 50% Tesla: 'That's not a reflection of a healthy market'

Lackluster demand for electric cars in the U.S. isn’t because Americans don’t want them, RJ Scaringe said. There’s just few good options.

Fortune

Exclusive: Notion Capital leads $20 million seed round for startup automating building MEP design

Endra says it can reduce the time needed to design electrical systems from months to hours.

Fortune

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‘Big Short’ investor Michael Burry piles misery onto tech stocks after Oracle fails to close AI debt deal

Of course, Burry has a conflict of interest in the form of a $1.1 billion short bet against AI stocks. So take his doom-mongering with a pinch of salt.

Fortune

Elon Musk says there will be ‘no poverty’ in the future, meaning Ray Dalio’s multi-million pledge to Trump Accounts would be essentially redundant

"It is certainly a nice gesture," Musk said. "But there will be no poverty in the future and so no need to save money."

Fortune

Federal investigation underway after Nevada’s safety regulator dropped violations against Boring Co.

Lawyers and regulators say the Nevada state agency’s handling of the safety investigation went against procedure.

Fortune

Fed chair contender Christopher Waller says weak jobs data is strengthening the case for more rate cuts: ‘AI is stalling hiring'

Also: All the news and watercooler chat from Fortune.

Fortune

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How Bentley’s brand is creating business advantage in disruptive times

The Supersports model is a loud and proud reminder of Bentley’s legacy, executed at a pivotal moment in automotive history.

Fortune

Intuit CEO says Gen Z is staving off recession by putting it on plastic: 'Credit card balances are up 36-37%, but they still have jobs’

Gen Z is making more money, adjusting for inflation, than previous generations at their age, but their dollars aren’t going as far as before.

Fortune

This Chanel chief launched her 40-year luxury career off the back of a failed teaching exam and a chance encounter at a student forum

Had she passed the test, she’d likely be a teacher. Instead, she's enjoyed a 40-year career, including 17 years at Chanel.

Fortune

We 'don't have enough manpower' for the delivery boom, says Singapore-based robotics founder

Delivery is "still stuck at the last mile," says Quikbot founder Alan Ng, who is developing robots that can navigate Singapore's buildings.

Fortune

Embattled BP replaces CEO, naming Woodside Energy chief as first-ever woman leader of a Big Oil giant

BP’s new American CEO is a global traveler who just helped an Australian energy player grow worldwide.

Fortune

Coinbase just announced stock trading and new Kalshi-based prediction markets

The announcements come as the longtime crypto company is seeking to brand itself as the “everything exchange.”

Fortune

YouTube is giving the Oscars the lifeline it desperately needs

It ends a partnership with ABC that began in 1976 and fundamentally alters how Hollywood honors itself.

Fortune

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Amazon CEO Andy Jassy announces departure of AI exec Rohit Prasad in leadership shake-up

Prasad’s exit comes after Amazon struggled to show its internal AI efforts could match those of rivals—and just as reports surface that Amazon is discussing a big investment into OpenAI.

Fortune

A U.S. oil blockade on Venezuela could ‘devastate’ its economy and further pressure Maduro. But how far is Trump willing to take it?

Questions abound about whether the White House will add new sanctions to oil tankers trekking to Venezuela and how broad the oil blockade will become.

Fortune

Experts say Amazon is playing the long game with its potential $10 billion OpenAI deal: ‘ChatGPT is still seen as the Kleenex of AI’

“If OpenAI wins the lottery, then they’d have the money to pay for this,” analyst Charles Fitzgerald said.

Fortune

Gen Z’s reality check: Birkin resale prices slump as aspirational luxury takes a hit

Once touted as a better investment than gold, the prized Birken bag no longer has the same COVID-era appeal at auction, Bernstein data shows.

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Fortune

Netflix co-CEO faces the $100 billion question: ‘Why are you doing this deal?’

“Hey, you know, it’s probably irresponsible for us not to actually bid on this and bid on it in a disciplined way,” Greg Peters told CNBC.

Fortune

Exclusive: Hudson stores operator Avolta becomes first foreign company to open duty-free shops in Mainland China in 26 years

The Chinese government has been courting foreign retail companies in recent years.

Fortune

Sheryl Sandberg says Silicon Valley’s hypermasculine rhetoric is ‘terrible’—contributing to ‘one of the worst’ corporate climates she’s ever seen

“We’ve seen this backsliding before, and that is not an excuse for companies not to do the right thing,” Meta’s former COO said.

Fortune

Tariffs take a bite out of mom-and-pop stores as small business profit growth turns negative for first time in 18 months, BofA says

The NFIB survey never saw such a big jump in small businesses raising prices as it did between October and November.

Fortune

The Trump administration says it could go after Spotify if Europe doesn’t back off American tech companies

The Trump administration is threatening the EU over rules targeting tech companies, warning it would use “every tool at its disposal” to counter them.

Fortune

How Amazon’s CSO defends against efforts by North Korean IT workers to infiltrate his company

Amazon has seen an increase in North Korean IT workers attempting to get jobs at the tech giant, schemes motivated by lucrative salaries in AI.

Fortune

The $38 trillion national debt is to blame for over $1 trillion in annual interest payments from here on out, CRFB says

Welcome to "the new norm": interest payments over $1 trillion every year from here on out, to service the large and growing national debt.

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