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The Latest Breaking News from Fortune

Jerome Powell says the AI hiring apocalypse is real: 'Job creation is pretty close to zero.’

Powell said the Fed is walking a tightrope as AI-fueled investment props up growth but erodes hiring.

Fortune

Saudi Arabia wants to woo leisure travelers to its shores: 'We have a lot to offer to the world,' says tourism minister Ahmed Al Khateeb

“We want travelers to come and experience the Saudi hospitality, enjoy our coffee and food, and learn about Arabian culture,” said H.E. Ahmed Al Khateeb.

Fortune

Crypto founders are getting very rich, very fast—again

Early-stage founders are collecting $10 million or so in secondary sale transactions—well before their firms have proven themselves.

Fortune

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Airbnb CEO Brian Chesky says employers need to hire Gen Z even if 'AI can do the interns' work'—or one day, the bots will outnumber bosses

Airbnb cofounder and CEO Brian Chesky warns AI isn’t “magic,” and companies that skip out on hiring Gen Z risk losing future CEOs to automation.

Fortune

The uncomfortable secret of successful people: Forget work-life balance, you have to be ‘obsessed,’ ex-Wall Streeter and business coach says

“Obsession means that you’re thinking nonstop until your relentless action makes it unreasonable for you to not win,” she says.

Fortune

Chipotle CEO sounds alarm on the American economy: Gen Z and millennials are too burdened by unemployment and student loans to eat out

“We’re not losing them to the competition. We’re losing them to grocery and food at home,” Scott Boatwright said.

Fortune

Reddit founder Alexis Ohanian kept receipts from trolls who mocked his bet on women's sports: ‘I tag them and thank them for the motivation’

The co-founder of Reddit who is married to tennis great Serena Williams, Alexis Ohanian, started investing in women’s sports in 2020 and was “savagely trolled” at the time—but he’s having the last laugh now.

Fortune

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Sir Martin Sorrell says AI has already “missed the Oppenheimer moment”

When it comes to AI, it’s already too big for governments to regulate, says WPP founder Martin Sorrell.

Fortune

Adobe deepens Google Cloud partnership to advance AI and next-gen creativity, says CFO

Google brings crucial technical expertise, while Adobe leads in creative solutions, Dan Durn says.

Fortune

Vilnius is a nice, green place to live—and it’s turning that into a competitive advantage for its economy

Being a green and pleasant place to live certainly isn’t necessary or sufficient for economic competitiveness, but Vilnius’s experience shows that at the very least it helps.

Fortune

Brian Moynihan warns government shutdown risks slowing the economy—and urges policymakers to address fiscal concerns with a 'clear head'

“Ultimately it’s going to slow down the economy,” he says.

Fortune

Powell gave traders a green light to double down on AI—but the markets punished Meta and Microsoft anyway

The market declined to demonstrate irrational exuberance despite upbeat remarks from the Fed.

Fortune

AIG to partner with specialty insurer Convex and asset manager Onex in $5B deal

The dual investment comes on the heels of AIG’s separate $2 billion acquisition deal with reinsurance company Everest Group.

Fortune

The next 'golden age' of AI investment

A16z’s Anjney Midha says reasoning models and new frontier teams will spark the next big wave in AI investment.

Fortune

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Trump and Xi Jinping meet at a temporary trade truce just days after China purchased its first U.S. soybeans from this year’s harvest

Quicker negotiations between the two countries ensued after China’s crackdown on rare earths exports, expert says.

Fortune

Microsoft CEO Satya Nadella says Bill Gates told him his big bet on OpenAI would be a flop: ‘Yeah, you’re going to burn this billion dollars’

Nadella said despite the risk, “it was not that hard to convince anyone.”

Fortune

Longevity science is on the cusp of major breakthroughs thanks to AI, but significant ‘data gaps’ need to be filled, expert says

There’s a dearth of data about how differences in gender, ethnicity, and environment can affect the aging process.

Fortune

AI is the common threat—and the secret sauce—for security startups in the Fortune Cyber 60

The latest installment of the Fortune Cyber 60 list, created in partnership with Lightspeed Venture Partners, reveals how critical AI security has become for organizations.

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news in one place.

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Fortune

Delta CEO Ed Bastian says one key to building customer loyalty is 'obsessing' over your own staff

Also: All the news and watercooler chat from Fortune.

Fortune

Why ASEAN membership matters for Southeast Asia's smallest economy: It's a ‘credible signal’ of stability to wary international investors

With oil and gas revenues starting to run dry, Timor-Leste, also known as East Timor, needs to explore new options.

Fortune

From ‘greenwashing’ to ‘greenhushing,’ clean energy momentum advances despite political roadblocks

More clean energy and electrification projects are competing economically with alternatives, executives said.

Fortune

Bitcoin, Ethereum dip after Fed chair hints that 25-point rate cut may be last of 2025

The total market capitalization of all cryptocurrencies dropped 1.8% on Wednesday.

Fortune

The CEOs of Apple, Airbnb, and PepsiCo agree on one thing: life as a business leader is incredibly lonely

Leaders of billion-dollar behemoths including Airbnb’s Brian Chesky and Apple’s Tim Cook say the top job is isolating, and entrepreneurs should lean on peers to feel connected.

Fortune

Powell says that, unlike the dotcom boom, AI spending isn’t a bubble: ‘I won’t go into particular names, but they actually have earnings’

However, the Fed chair noted that the growth is unevenly distributed and concentrated among only a few companies.

Fortune

Mastercard poised to acquire crypto startup Zerohash for nearly $2 billion, sources say

The move to acquire the crypto company comes after Mastercard was in talks to acquire another stablecoin startup BVNK for around $2 billion.

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