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The Latest Breaking News from Fortune

The SEC should ban the products behind South Korea's recent market meltdown

The SEC already knew, three years ago, that retail investors make up the vast majority of holders of single-stock leveraged ETFs.

Fortune

Inside Ally Financial’s strategy to win the AI search war

The online bank is trying to become the most-recommended financial institution across major AI assistants without spending billions on ads.

Fortune

SpaceX created a new class of ultrawealthy. Here’s what comes next

Few public offerings have created so many paper millionaires so quickly. But that was on paper.

Fortune

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After months of a public back and forth over Mamdani’s pied-à-terre tax, Ken Griffin isn’t ready to give up on New York after all

The Citadel CEO is staying put, and both his hedge fund and market maker will remain anchor tenants in a new $4.5 billion skyscraper.

Fortune

A billion SpaceX shares unlock Thursday. Wall Street isn’t worried: ‘You never bet against Elon’

Four index providers rushed SpaceX into millions of 401(k)s within 25 days of listing. D.A. Davidson’s Gil Luria sees how Musk already knows how this will play out.

Fortune

In its first deal since going public, Italian unicorn Bending Spoons buys Airtable at a $9 billion discount

Airtable was valued at $11 billion during its 2021 boom.

Fortune

Feds accuse crypto founder of stealing $10 million from NFT investors, spending it on Miami condo and DJ hobby

The founder of NFT marketplace Few and Far allegedly promised 427% returns to 67 investors.

Fortune

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Demis Hassabis steps down from Google DeepMind CEO role amid a major AI leadership shake-up

Google DeepMind is undergoing a major restructuring following model delays and a string of high-profile exits.

Fortune

Hitachi's CIO says the Japanese conglomerate's enterprise AI strategy isn't one-size-fits-all

While AI tools like Microsoft Copilot and Anthropic's Claude Code have been embraced, there isn't yet a single, enterprise-wide AI tool used by Hitachi's 290,000 global workforce.

Fortune

'Socialism is a disaster': Bill Ackman says Zohran Mamdani's bad left-wing housing policy is worsening New York's affordability crisis

"Left-wing mayors have made it very difficult for developers to build here," Ackman told Fortune. He highlighted Ken Griffin as a key example.

Fortune

The Trump administration has doled out $100 billion in tariff refunds, but Americans are suing U.S. companies for not seeing a penny of the returns

Customers of Five Below, Sony, and Nintendo have filed class action lawsuits demanding they receive refunds from the struck-down import taxes.

Fortune

Locked out of housing, Gen Z and Millennials are building wealth in the stock market instead as they reach record high $3.1 trillion in holdings

Experts warn brokerage accounts lack a mortgage's forced savings discipline and carry other risks

Fortune

Career growth is actually a higher priority for Gen Z than work-life balance, survey says—with 93% of interns wanting to become executives

Career growth is a higher priority for Gen Z than work-life balance, workplace culture, and even salary, according to a KPMG survey of interns.

Fortune

Apollo CEO has a $11.1 billion net worth today—but he started out with a series of hospitality jobs, from valet parking to working in a party store

Just like other CEOs, Marc Rowan, the cofounder of Apollo Global Management, says “you have to take something away from” ordinary jobs.

Fortune

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What OpenAI's finance team is becoming in the age of AI

A look at how OpenAI's finance department blends strategy, AI agents, and judgment.

Fortune

Scott Bessent just declared the K-shaped economy is over, saying he’s ‘sick of hearing about’ it—but the data would beg to disagree

"I can say here definitively, the K-shaped economy is over."

Fortune

Ask your employees one question about AI. The silence will tell you everything

AI has made building dramatically easier, yet most employees still aren't creating anything reusable. The hidden barrier is who your people think they are.

Fortune

$25 billion in data centers shows St. Louis is serious about competing in the AI economy

While Minneapolis and New York are pumping the brakes, the St. Louis region has decided to compete now in America's new infrastructure race.

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Fortune

A deal with Iran on the Strait of Hormuz—with a truckload of caveats—could come as soon as today

Everything you need to know before you reach the office this morning.

Fortune

Bill Ackman's next big bet is convincing Americans to fall back in love with capitalism

Also: All the news and watercooler chat from Fortune.

Fortune

Current price of oil as of Aug. 5, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Noa Khamallah was a street kid and convict. Now his $10 million fund is taking on mega-VCs

Don’t Quit Ventures fund has three unicorns among 17 bets and has already returned cash to LPs.

Fortune

Trump’s tariffs were supposed to boost American manufacturing, but the new levies are actually pushing some companies back to China

“The story that it is bringing back manufacturing is really not the story,” economist Mary Lovely warned. “Manufacturing is not coming back.”

Fortune

Gen Z's anti-capitalist brand says one thing. Its spending data says something more interesting

K shape, what K shape? Everyone in Gen Z is spending money in this economy, regardless of income.

Fortune

Europe’s AI sovereignty is under threat. Could Mistral be the answer?

After Washington cut off access to a top U.S. model, Mistral’s push for sovereign AI looks more appealing than ever. But Europe’s AI champion is still chasing the frontier—and relying on American tech to get there.

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