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The Latest Breaking News from Fortune

Starbucks’ CEO is ditching a merit system and giving all salaried staff a flat 2% pay raise instead

The coffee chain cited limiting costs during a turnaround effort as its reason for the modest pay bump.

Fortune

Gen Zer washed his college basketball team’s dirty clothes and mopped floors to prove his passion—now he’s one of the youngest interns ever at the NBA

Mocked as ‘mop boy,’ Daniel Sung turned a year of college basketball grunt work into a dream NBA internship, LinkedIn fame, and multiple startup offers at just 19.

Fortune

Beyond snubbing Tinder, Bumble, and casual flings, more than half of Gen Z is spending $0 monthly on dating, BofA finds

Gen Z’s economic anxiety—as well as disinterest in casual dating—has led many young people to spend little to nothing on dates.

Fortune

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How Target let Walmart steal its rizz

Also: All the news and watercooler chat from Fortune.

Fortune

Elon Musk's $29 Billion Tesla Pay Package Sparks Investor Revolt As Major Shareholder Group Demands NASDAQ Probe

The SOC Investment Group has called for a formal investigation by NASDAQ into Tesla Inc. (NASDAQ:TSLA) regarding a recent $29 billion equity grant to CEO Elon Musk.

Benzinga

Meta wants to speed its race to ‘superintelligence’—but investors will still want their billions in ad revenue

Mark Zuckerberg has hired a new AI all-star team, but Facebook, Instagram, and Ray-Bans are still getting most of the love.

Fortune

Tesla shareholder group urges probe, ‘appropriate remedial action’ from Nasdaq over Elon Musk’s $29 billion pay package

The group’s letter argues that Tesla shareholders likely “did not believe they were voting on an equity plan that would cover compensation to Mr. Musk” all the way back in 2019.

Fortune

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Target's incoming CEO started as an intern at the $44 billion retail giant 20 years ago—he advises Gen Z who want to copy him to 'embrace feedback'

What started as a summer placement in Target’s finance department two decades ago has turned into the top job for Michael Fiddelke. His advice for Gen Z interns? "Slow down and ask questions. Embrace feedback."

Fortune

AI anxiety has sent markets into a tizzy, but experts say the jitters will only ‘punish those chasing the froth’

“The crash is separating real AI revenues from companies that only have AI PowerPoints.”

Fortune

President Trump may want a lower base rate on behalf of consumers, but it sure is convenient for national debt too

While Trump frames the issue as consumer pain, Wharton’s Joao Gomes told Fortune that cheaper borrowing would also ease interest payments on the government’s $37 trillion debt burden—likely a central motivation.

Fortune

This millennial gut health scientist and founder juggles 5 jobs and 2 kids—she has a 'strict' coffee routine and swears by $20-a-day lunch habit

Dr. Megan Rossi, the 36-year-old award-winning gut health scientist and TV expert swears by a 20-minute Peloton bike ride for when it all gets too much.

Fortune

Some CEOs fear AI could become the user interface for almost everything

Also: All the news and watercooler chat from Fortune.

Fortune

MAHA is reshaping Amazon and other consumer packaged goods companies’ supply chains more than tariffs right now, manufacturing platform CEO says

Keychain, a manufacturing platform, has seen an uptick in “natural” projects from its customers as food retailers respond to the healthy eating push.

Fortune

82-year-old CEO grew a $7.8 billion fortune from company shares—now she’s selling stock to charity and signed Warren Buffett's pledge to give away 99%

Epic Systems CEO Judy Faulkner pours profits from selling her nonvoting shares into charity. She also defies the Silicon Valley standard by having “Harry Potter” and “Alice in Wonderland”–themed office buildings.

Fortune

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Car buyers have to pay extra to unlock horsepower on Volkswagen vehicles—an 'uphill battle' subscription model that has drawn the ire of customers

Volkswagen customers in the UK will have to pay £16.50, or $22.50, per month to give its ID.3 vehicles a 20-horsepower boost.

Fortune

Brooks CEO Dan Sheridan says the top job drives him ‘nuts’ 20% of the time—but one mindset mantra keeps him sane

Like Amazon CEO Andy Jassy, keeping a positive attitude helps the Warren Buffett-backed leader stay motivated toward success.

Fortune

Anthony Scaramucci’s SkyBridge Capital to tokenize $300 million on Avalanche

The onetime Goldman Sachs executive and White House communications director has been a crypto booster for years.

Fortune

Gen Z spends hundreds a month on 'treat culture,' justifying it with the challenges of daily life

Some Gen Zers are spending hundreds of dollars on little treats each month.

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news in one place.

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Fortune

IPOs are back. Where are the women?

An analysis of IPO-related filings from the first two weeks of August show an alarming lack of gender diversity.

Fortune

How Chili's and Cheesecake Factory are defying consumer gloom and beating McDonald's and Chipotle at their own game

Chili’s reported a 24% jump in same-store sales in its most recent earnings report.

Fortune

Housing shrinkflation is here to stay. New homes are 11% smaller but 74% more expensive than a decade ago

The “death of the hallway” continues.

Fortune

How GoodRx CEO Wendy Barnes is trying to halve the cost of GLP-1 obesity drugs

Also: All the news and watercooler chat from Fortune.

Fortune

Soho House goes private in $2.7 billion deal as Ashton Kutcher joins the board of the swanky members’ club

Founded in 1995, Soho House has never turned a profit.

Fortune

Ex-Google exec says degrees in law and medicine are a waste of time because they take so long to complete that AI will catch up by graduation

“Higher education as we know it is on the verge of becoming obsolete,” the former Google AI leader told Fortune.

Fortune

‘Quiet cracking’ is spreading in offices: Half of workers are at breaking point, and it’s costing companies $438 billion in productivity loss

Thanks to AI and disappearing career growth, staffers are silently but massively disengaging with their employers. Welcome to “quiet cracking.”

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