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The Latest Breaking News from Fortune

China is becoming a 'factory to the factories,' powering global manufacturing in places like Southeast Asia even as U.S. trade declines

China stepped up to diversify its trading partners, and mostly with emerging economies,” says McKinsey's Jeongmin Seong.

Fortune

Supermicro’s cofounder was just accused of smuggling $2.5 billion in GPUs to China

The arrest of board member Yih-Shyan “Wally” Liaw—who previously resigned following an accounting scandal in 2018—led an after-hours trading drop of 12% in the Nvidia-linked server manufacturer's stock.

Fortune

Gen Z’s straight‑A boom is quietly shrinking their paychecks

Grade inflation offers short-term gains, but poorer future test scores, lower graduation rates, and lower annual earnings, a new study finds.

Fortune

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Baked by Melissa’s founder is ‘so freaking thrilled’ to step down as CEO

The last cupcake brand standing from the 2010s boom is now open to a sale.

Fortune

France is experiencing wave of crypto assault One involved an influencer’s father doused with gasoline

A majority of so-called wrench attacks so far this year have occurred in France.

Fortune

War, oil, and an unpaid TSA: The perfect storm of travel chaos feels like the pandemic all over again

Flights face new disruption as war, oil costs, and TSA pay issues hit travelers

Fortune

Uber will operate its own robotaxis again—this time with Rivian’s not‑yet‑built EVs

After studying the competition for years via partnerships, Uber is apparently ready to take on more risk again.

Fortune

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Jack Schlossberg on why Democrats lost young men to Trump—and it starts with the reason he quit the Biden campaign

Schlossberg also told Fortune which party really represents "modernity," and why Democrats need to stand for something.

Fortune

The CEO of Patreon blasts AI companies for the ‘bogus excuse’ they’re using to not pay artists

Jack Conte says AI firms' fair use claims fall apart when you look at their Disney and Warner deals.

Fortune

DOGE cancelled a $349,000 grant to replace a museum’s HVAC after ChatGPT flagged it as DEI, court documents show

Elon Musk’s cost-saving agency uploaded more than 1,000 grant proposals into the chatbot, which determined whether or not they pertained to DEI, according to filings.

Fortune

Social Security has 6 years left. The fix that sounds cruelest may be the smartest

A new Penn Wharton study finds that slashing benefits—not raising taxes—produces the biggest economic gains. Here’s the counterintuitive math.

Fortune

The Pentagon reportedly requested an extra $200 billion for the Iran war. It might fund the U.S. military for just 140 more days

The war in Iran cost about $16.5 billion within its first 12 days. At that rate, an extra $200 billion could potentially fund the war through mid-August.

Fortune

Could data from 100 million species help cure disease? One startup is betting on it

Basecamp Research’s new trillion-gene project highlights a key divide: while AI training data is increasingly contested, biological data is being framed as a path to scientific discovery.

Fortune

1 in 5 Americans thinks it's 'morally wrong' to be a billionaire—Gen Z in particular finds it distasteful

People aged between 18 and 29, who are Gen Z, were the most likely to find extreme wealth distasteful. One-third said it was morally wrong.

Fortune

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Fortune

'We're living on borrowed time': As national debt hits $39 trillion, a top diplomat warns of a crisis America isn't ready for

"It's one of those things that's almost like the old law," Richard Haass told Fortune. "It's fine until the day it's not."

Fortune

Anthony Scaramucci: America's billionaires and presidents have forgotten the lesson that destroyed Rome

From Caesar to Silicon Valley, the pattern is always the same — and we're running out of time to change course.

Fortune

Nespresso’s Dua Lipa era marks a shift from George Clooney’s activism to Gen Z aspiration

For years, George Clooney gave Nespresso a polished image with an activist edge. Dua Lipa brings something different: younger, glossier, and built for the Instagram era.

Fortune

Fed Chair Jerome Powell says U.S. economy is ‘amazing’—but admits ‘we just don’t know’ as inflation, jobs, and oil shocks cloud the outlook

Jerome Powell said “don’t know” 17 times during the conference as he praised the economy’s resilience—but flagged rising inflation, stalled job growth, and an unpredictable oil shock from Iran.

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Fortune

'A month ago, no one would have believed this': June Fed rate hike odds just surpassed rate cut odds as stagflation fears grow

The Atlanta Fed’s Market Probability Tracker places the odds of a rate hike at about 15% within the next three months.

Fortune

TV host Mike Rowe slams schools for portraying skilled trades as a ‘consolation prize’—when he’s met data center electricians making $280K a year

America pushed a generation toward college—now it’s short hundreds of thousands of skilled workers, and “Dirty Jobs” host Mike Rowe is joining CEOs of top companies like Nvidia, Ford, and BlackRock in sounding the alarm.

Fortune

Uber cofounder says human workers will be extremely ‘valuable’ until super AGI steps into the picture: ‘That's my white pill’

While workers are panicking over the fate of their careers, Uber cofounder Travis Kalanick is optimistic that humans will be “more and more” valuable in an AI-driven world.

Fortune

China doesn't need a trade deal to win. Here's what CEOs are missing

Ram Charan has advised Fortune 500 CEOs for decades. His message after the Paris talks: stop waiting for a diplomatic breakthrough that will never come.

Fortune

Trump’s lunch for his biggest memecoin holders is going ahead. One attendee plans to come back despite ‘Walmart steak’ at previous meal

The White House said Trump’s attendance at the “most exclusive crypto and business in the world” is not confirmed.

Fortune

Jerome Powell says you're right to blame data centers for making your bills more expensive: 'probably pushing inflation up'

Electricity prices due to the investment into AI could spike, analysts have warned.

Fortune

Mick Mulvaney: Stop calling it a 'prediction market.' It’s sports betting

The former White House chief of staff says it's time to call the illegal gambling operation, run through a regulatory backdoor, what it really is.

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