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The Latest Breaking News from Fortune

Scott Bessent calls the Giving Pledge well-intentioned but ‘very amorphous,’ growing from ‘a panic among the billionaire class’

“When you see that people have a stake in the system, they don’t want to bring the system down,” the Treasury secretary argued at the DealBook Summit.

Fortune

Dave’s Hot Chicken is placing broad bets on AI to give the restaurant chain an edge in the chicken wars

Dave’s Hot Chicken has ramped up investments on AI, including at the drive-thru, mobile ordering, food delivery, and even at the french fry station.

Fortune

IBM CEO warns there’s ‘no way’ hyperscalers like Google and Amazon will be able to turn a profit at the rate of their data center spending

The profits needed to justify massive data center spending don’t add up, said Arvind Krishna.

Fortune

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Scott Galloway got mostly B’s and C’s in high school, never studied for the SAT, and had to try twice to get into UCLA. Now he’s worth $150 million

“It’s worked out for all of us,” Galloway said.

Fortune

While Billie Eilish slams non-philanthropic billionaires, this CEO says telling people what to do with their cash is ‘invasive’ and to ‘butt out’

William Stone has an estimated net worth of $3.8 billion and has donated millions to his hometown—but he says billionaires have the right to donate anonymously, if at all.

Fortune

Designer Kevin Bethune: Bringing 'disparate disciplines around the table' is how leaders can 'problem solve the future'

“Collaboration is the currency that informs future innovation,” said Bethune, the founder of dreams • design + life, at Fortune Brainstorm Design.

Fortune

Scott Bessent is defiant on whether tariffs are a tax, demands Democrats work to cut actual taxes instead

Saying that some Democrats had walked into his “bear trap,” the Treasury secretary urged them: “Join me and cut taxes, and that will be disinflationary.”

Fortune

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Tony Cuccio started with $200 selling beauty products on Venice Beach. Then he brought gel nails to the masses—and forged a $2 billion empire

Cuccio, 71, says he makes $100 million a year.

Fortune

Bitcoin’s biggest booster Michael Saylor fights to stave off an $8 billion collapse and being the first major crypto domino to fall

A rule change could force Saylor's company to sell some of its $650 billion holdings—but crypto veterans say Strategy will be just fine.

Fortune

Microsoft AI's design head wants her team to be AI-native by the end of the fiscal year

Danzico noted that she helped put together an in-house AI course for her team's 200 employees, to a "tremendously positive" positive response.

Fortune

Donald Trump says national debt is ‘peanuts’ compared with tariff income, which will pay dividends—but the math isn’t adding up

A $2,000 dividend for each citizen would increase the deficit by $6 trillion, according to one estimate, roughly twice as much as Trump’s tariffs are estimated to raise.

Fortune

Gen Z grads in the U.K. are earning 30% less than millennials did—new data shows the degree payoff is collapsing

The promise of a high-paying graduate job is slipping away for Gen Z as pay premiums plummet by half in the U.K.

Fortune

Former Citadel employees raise $17 million for Fin, a global stablecoin app ‘without all the complexity’

The startup aims to allow businesses to conduct big cross-border transactions in cheap and rapid fashion.

Fortune

L’Oréal CHRO cut her teeth at luxury brands Chanel and Kiehl’s. Like Walmart’s CEO she says the secret to her success was always saying yes

Like Walmart’s CEO, the L’Oréal exec says the secret to her success was always saying yes—to grabbing coffee, taking notes, moving abroad.

Fortune

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Fortune

Fund managers from diverse backgrounds are delivering standout returns and the smart money is slowly starting to pay attention

Since 2016, we’ve invested through diverse fund managers, seeing steady, market-rate performance. An entrenched "old-boy" network keeps us in the minority.

Fortune

China does not need Nvidia chips in the AI war — export controls only pushed it to build its own AI machine.

If the U.S. wants to lead in AI, chip controls are not the answer.

Fortune

Boeing’s new CFO sees ‘performance culture’ driving a return to positive cash flow next year

Jay Malave joined the Fortune 500 company in August.

Fortune

Harvard grads raise $20 million for Ostium, a platform focused on a derivative popular with crypto traders

Marquee investors General Catalyst and Jump Crypto led the funding round.

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Fortune

Anthropic considers IPO despite warnings that excess liquidity is blowing a bubble in the markets

Senior central bank chiefs see excess liquidity in a range of asset markets.

Fortune

Exclusive: Angle Health raises $134 million Series B to grow its AI-driven healthcare benefits offerings

Angle Health has raised a $134 million Series B, led by Portage, Fortune has exclusively learned.

Fortune

Michael Dell, who's donating $6.25B to 'Trump Accounts' for kids, says a childhood savings account changed his life

Also: All the news and watercooler chat from Fortune.

Fortune

Trump’s pick for Fed chair isn’t enough to threaten central bank independence, says top economist—especially if Jerome Powell decides to stick around

“The question then becomes, will Powell leave as a governor?”

Fortune

A Chinese ice cream chain, powered by super-cheap cones, now has more outlets than McDonald's

Chilled drinks and cool prices are helping Mixue take over the booming sweet treat market.

Fortune

Video games can teach designers deeper lessons than ‘high score streaks’ and gamification

Game design holds important lessons for education, said Lee Schuneman, the chief product officer at edtech firm Efekta Education Group.

Fortune

Binance names cofounder Yi He as new co-CEO

Yi He has worked in crypto since the early days of the industry, and becomes one of only a handful of women to lead a crypto firm.

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