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The Latest Breaking News from Fortune

UPS CFO on Amazon pullback and driving a growth strategy

Brian Dykes explains why UPS is prioritizing profitability over volume, and how refocusing its network is delivering results.

Fortune

Startup Hercle raises $10 million build out stablecoin-based global money transfers

The firm uses stablecoin technology to help payment providers and commodity traders send money around the globe.

Fortune

You can expect a 25 bps cut from the Fed, says Wall Street, but little economic insight from Powell—after all, he doesn’t have much to go on

“Chair Powell’s press conference will pivot away from economic data—given its scarcity—and instead focus on balance sheet policy, the policy framework review, and financial stability,” Deutsche Bank says.

Fortune

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Wall Street is in a risk-on mood as it waits for Powell to deliver on the ‘Fed put’

“Earlier this month, markets shifted more towards a ‘central bank put’ regime,” Christian Mueller-Glissmann at Goldman Sachs wrote in a note to clients.

Fortune

In a world of crypto and ‘exotic instruments’, traditional exchanges are thinking about how they ‘stay relevant’

At the Fortune Global Forum in Riyadh, exchange heads trade notes about uncertainty, new competition, and Labubu.

Fortune

Everyone thinks AI is replacing factory workers, but Amazon’s layoffs show it’s coming for middle management first

As Amazon slashes 14,000 white-collar roles and the U.S. approaches a million job cuts this year, AI’s first major labor casualty might be emerging.

Fortune

Real estate CEO says the luxury industry is all about one thing: a 'return on ego'

DarGlobal CEO Ziad El Chaar sees co-branded real estate—what he calls the “limited edition of real estate”—as both a cultural anchor and a magnet for the world’s elite.

Fortune

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The Hollywood blueprint holds the key to reshaping organizations in the age of AI

The Hollywood model of work is a refreshing alternative to the rigid structures of the industrial era.

Fortune

Saudi Arabia is now a nation of city-dwellers, and 'cities don't lie,' says urban development leader

Also: All the news and watercooler chat from Fortune.

Fortune

How Bupa’s CEO Iñaki Ereño woke a sleeping giant—and set a 100,000 strong workforce running toward digital health

How Bupa’s CEO balances triathlons, technology and the transformation of global health.

Fortune

Europe's giants still rule as startups struggle to crack the Fortune 500 Europe

Every company in the Fortune 500 Europe top 10 has roots from before the Second World War. The oldest, Banco Santander, was founded in 1857.

Fortune

Saudi power chair: Tariffs weaken the global energy transition and hurt humanity

The world must embrace renewable energy, natural gas, nuclear, and more to truly power the world into the energy transition, Mohammad Abunayyan said.

Fortune

As OpenAI restructures, Microsoft locks in long-term gains

OpenAI has become a public benefit corporation, giving Microsoft a 27% stake and long-term access to research methods

Fortune

Meet the billionaires spending over six figures to stop Zohran Mamdani from becoming New York's next mayor, from Michael Bloomberg to Bill Ackman

A reported 26 billionaires and rich families have spent at least $100,000 to support independent candidate Andrew Cuomo.

Fortune

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Fortune

The U.S. just bet $1 billion that AI supercomputers can turn most cancers from ‘death sentences’ to ‘manageable conditions’ within 8 years

Chris Wright says the supercomputers will also allow the U.S. to “re-create the center of the sun on Earth” given how they benefit fusion energy research.

Fortune

Trump media firm dives into red hot prediction markets with Crypto.com

Prediction contracts will be available on the social media site Truth Social, allowing users to bet on elections and sports, among other events.

Fortune

Elon Musk’s ‘polarizing and partisan actions’ may have cost Tesla more than 1 million U.S. EV sales, Yale study finds

“The easiest thing to say is, don’t antagonize your core customers,” Yale economist and study author Kenneth Gillingham said.

Fortune

Elon Musk's 'Grokipedia' cites Wikipedia as a source, even though it's the exact thing he's trying to replace because he thinks it's 'woke'

Musk has previously said xAI’s Grok chatbot removes “falsehoods” in sources of information like Wikipedia pages.

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Fortune

OpenAI completes for-profit restructuring and grants Microsoft a 27% stake in the company

The restructuring ends years of capital constraints for OpenAI, and grants Microsoft long-term technology access and new AGI rights under the updated deal.

Fortune

Investor Cathie Wood predicts a ‘shudder’ in Big Tech valuations, saying higher rates may test investor faith

“The way algorithms work these days, we think that there will be a reality check,” said Wood.

Fortune

As Gen Z faces the white collar freeze in hiring, law and business school applications are soaring

Gen Z is rushing back to the classroom to dodge AI disruption as law-school applications have jumped 33% compared to this time last year.

Fortune

Wealthy family in New Jersey posts tutoring job for $264,000 a year—complete with 45 days vacation and a guesthouse

The private tutor must have expertise in the U.S. curriculum, an “easygoing” personality, and a “good sense of humor.”

Fortune

International laws need to be updated for a ‘machine-governed economic system,’ says CEO of stablecoin giant Circle

Jeremy Allaire said at the Fortune Global Forum that the rise of technologies like AI and crypto will prompt governments to craft new legislation for corporations over the next 10 years.

Fortune

Chegg's CEO once said he's the 'poster child' for AI shock. Now, the company is slashing 45% of staff

The edtech pioneer cuts 388 jobs and brings back Dan Rosensweig as CEO, underscoring how generative AI and shrinking Google traffic are reshaping student learning—and testing Chegg’s turnaround bet.

Fortune

Bill Gates says a ‘doomsday’ outlook on climate is driving people to focus on the wrong things

“If given a choice between eradicating malaria and a tenth of a degree increase in warming, I’ll let the temperature go up,” Gates said.

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