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The Latest Breaking News from Fortune

Trump takes center stage at APEC–yet Asia’s business leaders are optimistic that multilateralism will prevail

Also: All the news and watercooler chat from Fortune.

Fortune

Exclusive: Airwallex crosses $1 billion in annualized revenue as fintech unicorn takes on U.S. competitors like Ramp and Stripe

Airwallex cofounder and CEO Jack Zhang says the company is growing 90% year over year after expanding into the U.S. and Europe.

Fortune

Stock futures climb as investors await Supreme Court showdown on Trump tariffs and shareholder vote on Musk’s $1 trillion pay package

On Thursday, Tesla shareholders will gather for the company’s annual meeting and will vote on Musk’s $1 trillion compensation package.

Fortune

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It’s getting harder to separate the stock market from the economy. That means the Fed and Congress have more incentive to help Wall Street

A $1 increase in stock wealth leads to a $0.05 marginal propensity to consume, up from less than $0.02 in 2010, according to Oxford Economics.

Fortune

Bessent points to China’s rare earths restrictions to justify Trump tariffs as Supreme Court to hear arguments about emergency powers

“The president was able to push back using his IEEPA powers. If that’s not use of an emergency power at an emergency time, I don’t know what it is.”

Fortune

Amazon says its AI shopping assistant Rufus is so effective it's on pace to pull in an extra $10 billion in sales

Customers who engage with Rufus during their shopping journey are 60% more likely to complete a purchase compared to those who don't.

Fortune

I spoke to Bill de Blasio about being cloned—and what public figures can do when AI fakes strike: 'All you can do is go online and deny what it is'

In a world full of online impersonators, deepfakes, trading scams, ChatGPT writing essays, and AI-curated images, a growing number of people are now asking, “is that real, or AI?”

Fortune

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This founder went from designing Happy Meal toys to making prosthetic skulls for a living—and her company now rakes in $20 million a year

Entrepreneur Nancy Hairston founded 3D medical-design company MedCAD after designing McDonald’s Happy Meal toys and Bratz dolls—and her products are changing lives.

Fortune

In private credit, banks are ‘quietly preparing for some distress on the horizon’ by requiring ever-stricter legal terms for debt-ridden companies

For instance, the level of so-called lien subordination protection has doubled in a year.

Fortune

Sam Altman says OpenAI’s revenue is ‘well more’ than reports of $13 billion a year and hints it could hit $100 billion by 2027

“I would love to tell them they could just short the stock, and I would love to see them get burned on that.”

Fortune

‘Godfather of AI’ says tech giants can’t profit from their astronomical investments unless human labor is replaced

“I think the big companies are betting on it causing massive job replacement by AI, because that’s where the big money is going to be.”

Fortune

Legendary investor Warren Buffett marks 3 straight years as a net seller of stocks with a new CEO about to take charge at Berkshire

The conglomerate sold $12.5 billion of stock in the latest period and bought $6.4 billion worth, marking the 12th consecutive quarter of net selling.

Fortune

United and American Airlines beg Congress to end shutdown ahead of busy holiday season as air traffic controllers work overtime without pay

“It's putting stress on people. It's not fair to those people. It's also putting stress on the economy,” United Airlines CEO Scott Kirby said.

Fortune

More than half of Gen Z says they only use cash as 'a last resort' and doing so is 'cringe,' survey shows

Some Gen Zers are so against using cash they’ll forgo shopping from stores that are cash only.

Fortune

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news in one place.

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Fortune

CEO Andy Jassy says Amazon’s 14,000 layoffs weren’t about cutting costs or AI taking jobs: ‘It’s culture’

Jassy said the cuts weren’t AI-driven, “not right now at least.”

Fortune

The 30-year-old obsessive networker who is leading a wildly profitable niche on Wall Street known as ‘directs’

Matt Swain has become a pioneer by pairing family offices looking to triple their money with under-the-radar businesses looking to exit.

Fortune

Crypto’s big ‘Uptober’ ends with a whimper, Bitcoin down 4%

While October didn’t bring in big wins for Bitcoin, one analyst says there’s reason to be optimistic for the cryptocurrency’s growth.

Fortune

‘AI is way beyond the hype phase’: Experts warn businesses must reskill for the new reality

Companies must not only develop existing talent but also rethink the skills they are sourcing.

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news in one place.

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Fortune

Exxon and Chevron hike oil production despite global glut and see more ‘frontier exploration’ as U.S. shale boom slows

Chevron cited more exploration efforts in Suriname, Brazil, Angola, Nigeria, Namibia, and the Middle East.

Fortune

Three billionaires dropped by a fried-chicken joint—and Jensen Huang bought everyone dinner

Nvidia’s Jensen Huang sparked a Korean-fried-chicken stock surge after a viral dinner in Seoul.

Fortune

Crypto’s second wave of ETFs arrives, investors snap up new Solana offering

New Litecoin and Hedera ETFs also launched, but to more modest demand.

Fortune

Not even blue-collar jobs are safe from automation—the era of robots is here and for $20K you can already buy your first robo housekeeper

The latest home-intruder is a 5-foot-6-inch humanoid housekeeper, called Neo, created by 1X Technologies. It’s ready for pre-order at a cost of $20,000 (with a $200 deposit) with expected delivery in 2026.

Fortune

Powell said companies are “making money in building [data centers]—it’s not about 25 basis points here or there.”

Fortune

Former VP Kamala Harris says she went through a nine-hour interview to land the job—but she couldn’t escape ‘gold medal depression’ even when she won

Kamala Harris has made history as the first woman to take on the roles of San Francisco DA, California attorney general, and U.S. vice president—but no matter if she wins or loses, she’s always hit with emptiness.

Fortune

The IBM exec who wants to bring startup agility to big business

IBM’s top software leader says large organizations fail to innovate because they don’t iterate.

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