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The Latest Breaking News from Fortune

OpenAI and Disney just ended the ‘war’ between AI and Hollywood with their $1 billion Sora deal—and OpenAI made itself ‘indispensable,’ expert says

“Google has YouTube. OpenAI now has the Magic Kingdom,” copyright expert Matthew Sag said.

Fortune

Bob Iger says Disney’s $1 billion deal with OpenAI is an ‘opportunity, not a threat’: ‘We’d rather participate than be disrupted by it’

The three-year deal will bring more than 200 Disney characters to Sora.

Fortune

Apple’s Steve Jobs told students to never ‘settle’ in their careers: ‘If you haven’t found it yet, keep looking’

The late Steve Jobs spent decades scaling Apple into the $4.1 trillion tech behemoth it is today. Even during turbulent times, he said, “the only thing that kept me going was that I loved what I did.”

Fortune

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Why Jerome Powell’s latest rate cut still won’t help you get a lower mortgage rate

“Since this rate cut was no surprise, the markets have taken it in stride,” 43-year mortgage industry veteran Melissa Cohn told Fortune.

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Billionaire Palantir cofounder calls elite college undergrads a ‘loser generation’ as data reveals rise in students seeking support for disabilities

As top universities report a surge in students seeking disability accommodations, Stanford alum Joe Lonsdale warns founders to steer clear of grads using the status as a “leg up.”

Fortune

Exclusive: Crypto startup LI.FI raises $29 million for cross-blockchain price discovery tool

The company aims to make moving across blockchains more efficient.

Fortune

What it takes to be wealthy in America: $2.3 million, Charles Schwab says

Survey respondents said it feels like it takes more money to feel wealthy today compared with last year.

Fortune

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Netflix’s takeover of Warner Brothers is a nightmare for consumers

Netflix promotes itself as an innovator, but its skyhigh bid for Warner Brothers suggests that its trendsetter days have peaked.

Fortune

When AI takes the tasks, managers take the relationships

Leaders say agents should handle the busywork so human managers can be more connected to their teams.

Fortune

Hinge’s founder and CEO is stepping down to start a new AI-first dating app

The new venture will use AI “to help people connect in a more thoughtful and personal way.”

Fortune

ComfortDelGro joins Singapore's race for autonomous vehicles with new shuttle trials and public rides by 2026

Both ComfortDelGro and ride-hailing platform Grab plan to roll out AVs to the public by next year.

Fortune

Fed’s Jerome Powell voices fear of K-shaped economy: ‘How sustainable it is, I don’t know’

Jerome Powell said most consumer consumption comes from the rich. “The top third accounts for way more than a third of the consumption ... So it’s a good question how sustainable that is.”

Fortune

Cursor has growing revenue and a $29 billion valuation—but CEO Michael Truell isn't focused on an IPO

CEO Michael Truell says the AI coding startup hit $1 billion in annualized revenue last month—but it's focused on building features, not going public.

Fortune

‘We have not seen this rosy picture,’ says ADP’s chief economist, who warns real economy will look pretty different from Wall Street’s bullish outlook

“We’re tracking changes in real time—it’s as high-frequency as payroll data [can] get, and we have not seen this rosy picture for 2026 in the data,” ADP’s Nela Richardson says.

Fortune

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Business leaders make their 2026 predictions for the Magnificent 7

Also: All the news and watercooler chat from Fortune.

Fortune

Student discounts made him a millionaire, a heart condition made him rethink life—now this millennial founder spends half the year in the French Alps

The Student Beans cofounder balances London with Alpine slopes, waking up no earlier than 8 a.m. and redefining what work-life balance means.

Fortune

Google DeepMind agrees to sweeping research collaboration with the U.K. government

The collaboration will see the AI company collaborating with the British government on a robotic lab for new materials, fusion energy, and new research into AI safety and the societal impacts of AI

Fortune

Top economist Diane Swonk: Jerome Powell risks losing the Fed’s credibility on a gamble over AI and immigration

It all comes down to the reason behind the weakness in unemployment and Powell’s diagnosis of the “low-hire, low-fire” economy of 2025.

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Fortune

Powell warns of a ‘very unusual’ economy as tariffs keep goods inflation high amid a weakening labor market

The Fed chair said underlying job growth could already be below zero, with official payroll figures overstating reality by tens of thousands each month.

Fortune

Rivian CEO says it’s a misconception that EVs are politicized, with R1 buyers split evenly between Republicans and Democrats

“I think that’s extraordinarily powerful news for us to recognize—that this isn’t just left-leaning buyers,” said Rivian CEO RJ Scaringe.

Fortune

AI is taking over managers’ busywork—and it’s forcing companies to reset expectations

As AI agents automate administrative tasks, industry leaders say the role of human managers needs to shift toward coaching and strategy—but most organizations aren’t moving fast enough.

Fortune

Actress Natasha Lyonne dropped out of NYU and watched movies at Film Forum instead. Now, she’s helping to shape the future of AI

“We are the ones who are deciding what this use is going to be and how we choose to use it,” Lyonne told the Fortune Brainstorm AI audience in San Francisco.

Fortune

Jeff Williams, who retired from Apple after 27 years, less than a month ago, just got called up by Disney to join its board of directors

Jeff Williams’s track record aligns closely with Disney’s priorities for the future.

Fortune

The Fed delivers a rare ‘hawkish cut’ as Powell tries to steady a softening job market

The Fed is clearly deeply divided. Three officials dissented, in opposite directions.

Fortune

‘Be careful what you wish for’: Top economist warns any additional interest rate cuts after today would signal the economy is slipping into danger

Jerome Powell’s Federal Reserve will likely deliver its final cut of the year on Wednesday. But Claudia Sahm is already looking ahead.

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