Bond traders believe Bessent’s ‘band-aid’ was ‘a heinous financial crime’
Everything you need to know before you reach the office this morning.
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The bond market is sending CEOs a blunt message: Borrowing costs are going to go up
Also: All the news and watercooler chat from Fortune.
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The AI ‘death zone’ is here and most corporate AI strategies are standing in it
Chinese models just swept the top five spots on the world's largest AI marketplace. American labs still own the…
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AI productivity tools are overhyped and overfunded. Investors should look elsewhere
Over 50 years ago, Charlie Munger convinced his best friend Warren Buffett to ditch the proverbial cheap cigar butts…
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Amazon, Uber, DoorDash, and Walmart are taking the delivery wars to the skies
After years of experiments and setbacks, some of America’s biggest delivery companies are racing to make drones…
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MacKenzie Scott gave California public education $461 million—and let the recipients decide how to spend every dollar
The billionaire's unrestricted gifts to 16 institutions reflect a giving philosophy built on trusting recipients to…
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Our AI startup is growing 40% a month helping financial advisers do what they love: giving advice
Our growth has come at a time when the investment landscape is more complicated than ever. It's no coincidence.
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Billionaire Jeff Bezos once asked Warren Buffett why so few people copy his strategy—now he’s backing $7 billion Liverpool FC
If Amazon founder Jeff Bezos takes his own Warren Buffet-inspired advice, Liverpool fans can expect him to stick around…
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Baby boomers look richer than ever—but many are retiring with record levels of debt
Decades of home-price gains made older Americans wealthy on paper. Debt and rising costs are making that wealth harder…
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Prediction market exec says gambling fight could reach Supreme Court by June
A possible circuit split could determine whether federal commodities law overrides state gambling rules.
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Airwallex expands from cross-border payments to autonomous finance—though president Lucy Liu says it’s still ‘not the best time’ for an IPO
In late June, Airwallex raised $320 million in a Series H funding round led by Addition, which valued the cross-border…
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Supermicro investigation clears CEO in alleged $2.5 billion smuggling scheme while a criminal trial involving a cofounder is set for next year
The AI-hardware maker’s board found no evidence CEO Charles Liang knew anything about alleged chip smuggling but a…
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Exclusive: The man leading Trump’s RTO charge for government workers says he filmed a video in front of a blank wall to avoid work-from-home suspicion
“I was in my bedroom,” OPM director Scott Kupor said in an all-hands meeting this week. “I was trying to find something…
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Trump oblivious to voter fury about data centers, saying ‘the jobs are enormous and the money paid, the taxes paid, are just enormous’
“It is yet another dimension in which the White House appears tone deaf,” said James Henson of the Texas Politics…
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Army unit offers ‘special 4 day pass’ to play Grand Theft Auto VI for reenlisted troops as part of ‘unique incentives program’
At least 20 soldiers have signed up for the bonus off-days—with eligibility tied to serving at least two more years in…
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Senators demand answers from TikTok About ‘depraved’ experiment
The company withheld an algorithmic safeguard from roughly 15 million users, including minors, according to a…
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Bessent becomes most interventionist Treasury chief in decades
Expanded bond buybacks and yen purchases mark an unusually activist approach, but widening deficits could limit its…
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The AI industry is getting better at spotting dangerous behavior. It is less clear that labs know how to stop it
Recent incidents involving OpenAI, Anthropic, and Meta show what happens when increasingly capable AI agents are tested…
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Scott Bessent on the national debt: ‘There’s nothing magic about the $40 trillion number’
"We can grow our way out of that," the Treasury Secretary told CNBC on Thursday.
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Gen Z forced to rewrite the American Dream in the ‘Great Postponement’: Fixer-uppers, side hustles and doing life out of order
"We've not seen challenges in terms of affordability like this in more than a generation," said Wharton professor Susan…
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Facing weary customers, Walmart will use its nearly $3 billion in tariff refunds to lower prices
Walmart passed on tariff-related costs last year and is now trying to lower prices as shares fell nearly 9% after its…
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Bill Ackman’s $400 million brain institute was inspired by his daughter—and built outside elite universities, which he says are losing talent
The billionaire investor said campus politics and funding cuts have made academia less attractive
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Moderna co-founder is a billionaire once again at $1.7 billion—he once turned down 20 high-paying job offers to ‘have more of an impact on the world’
Billionaire biotech pioneer Robert Langer advises workers to do what makes them happy over money and job security: “If…
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One U.S. Army unit is offering 4-days off to play Grand Theft Auto—but there’s a catch: they’ll have to reenlist if they take the day off to play
From the Army to small businesses: organizations are getting ahead of the GTA VI launch curve—and giving days off to…
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Nneka Ogwumike’s WNBA legacy isn’t just her 11 All-Star nods. It’s a 364% pay raise for the players
The president of the WNBA players' union is retiring after 15 seasons—and a labor agreement that's historic across…
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Another Democratic primary, another shocking DSA upset as Angie Nixon adds to moderates’ heartburn over seemingly unstoppable wave
“If you’re surprised by tonight’s election results, you haven’t been paying enough attention,” said Britney Whaley of…
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As U.S. debt hits $40 trillion, Americans will foot the bill: $700 a month for retirees, and homebuyers could take a $53,000 hit, report finds
"Addressing the national debt deserves to be a high priority for both voters and lawmakers, to benefit all Americans."
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Exclusive: A leader in Venezuela’s National Assembly engages ‘money doctor’ Steve Hanke for a dose of dollarization medicine in a nation sick from hyperinflation
The Johns Hopkins professor has spent five decades traveling the world, fighting for the cause of sound money. He's…
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Your next oil change is becoming a bigger part of car dealers’ business as profits cool and service departments make up the difference
Dealers are chasing service revenue as pandemic-era profits from selling cars fall back to Earth.
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‘Game-changer’ GLP-1s could fix America’s obesity crisis—but 2 inequalities stand in the way
Wells Fargo Industry Insights' Robin Wenzel says the drugs are rewriting healthcare economics, but the math doesn't…
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Governor races present ‘unique moment’ as historic number of Black candidates climbs to 8
Only three elected governors out of thousands have been Black in 250 years of American history
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The great climate change Champagne race, as grape ripening shrinks from 100 to 80 days: ‘We’ve never seen anything like it’
Extreme heat and drought have triggered Champagne’s earliest harvest on record, forcing growers to race to preserve the…
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The military’s own newspaper is too ‘woke’ for Pete Hegseth as longtime Stars and Stripes publisher retires after decades of service
The exit follows the Pentagon's ouster of ombudsman Jacqueline Smith and reports of a new deputy installed without the…
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You are paying for your favorite college athlete now: ‘the next stage of the arms race’
Taxpayers are putting millions into athletic programs as schools face rising athlete payments, facility costs and an…
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Trump calls his new FDA pick ‘Dr. Heidi.’ Patty Murray calls her a ‘far-right, anti-abortion extremist’
Heidi Overton has been critical of abortion pills and, if confirmed, would be positioned to roll back FDA rules that…
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Instagram took ‘don’t ask, don’t tell’ approach to kids, former engineer testifies — and pay was tied to keeping them online
“If you step away from the product, they are not going to make any money,” Arturo Béjar testified. It had the tools to…
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