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The Latest Breaking News from Fortune

Wormhole raises $225 million at a $2.5 billion valuation, finalizing split from Jump Crypto amid firm’s recent pullback

Saeed Badreg, CEO of Wormhole Labs, said that raise was in exchange for future Wormhole tokens.

Fortune

Blackstone plans to double-down on its Europe real estate investments—but in London, it already has an upper-hand as WeWork locations have fallen

The private equity group, which recently hit $1 trillion in assets under management, has a number of flexible office spaces in London through The Office Group.

Fortune

A Shein IPO will likely be one of the most contentious debuts in recent memory

Shein has plenty of enemies in Washington, D.C.—and they may throw a wrench in the company’s plans to go public.

Fortune

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Obama advisor turned Wall Street CEO says everyone’s AI predictions will be ‘invariably wrong’

Lazard CEO Peter Orszag told Fortune's Global Forum in Abu Dhabi that “a dose of humility” is needed among those speculating on the impact of AI.

Fortune

IKEA stores owner to spend $1.1 billion on price cuts next year in deflation boon

Ingka Group's Deputy CEO said people were buying more storage solutions because high house prices had kept them in small spaces.

Fortune

MSCI CEO: 'To tackle climate change, financial markets must reallocate trillions of dollars. It’s already happening, even without a political consensus'

The world urgently needs a faster repricing of assets and reallocation of capital, writes MSCI CEO Henry Fernandez.

Fortune

The UAE's leading AI CEO addresses bombshell New York Times report alleging China ties, says he didn't finish reading the story

"It’s correct that we all need to pay attention to the proper development of AI, and ultimately what we use AI for," G42's Peng Xiao said at Fortune's Global Forum in Abu Dhabi.

Fortune

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Billionaire Ray Dalio on the most important vote of our lifetime: 'I pray that we do not have another Trump-Biden election'

"No good society exists with this kind of fighting," the Bridgewater founder said at Fortune's Global Forum in Abu Dhabi.

Fortune

Ray Dalio slams 'tragedy' of a New York Times journalist's shocking book about him, claiming he was a Bridgewater reject who wrote 'fiction, created as fact'

“When truth gets mixed with fiction by journalists, the country has a problem,” the founder of the world’s largest hedge fund said at Fortune's Global Forum in Abu Dhabi.

Fortune

The CEO behind nearly 10,000 KFCs in China explains the country’s consumption slump: A 'psychological' consequence of COVID-zero

“We can understand why people became rather cautious and rational with their spending,” Yum China CEO Joey Wat said at the Fortune Global Forum in Abu Dhabi.

Fortune

Charlie Munger's best leadership advice: 'If you keep learning all the time, you have a wonderful advantage'

The Berkshire Hathaway legend and Warren Buffett's right-hand man leaves behind a treasure trove of wisdom.

Fortune

AI can be a game changer for neurodivergent employees

ChatGPT, Bard, and other artificial-intelligence-powered large language models are making work communication easier for people with autism and ADHD.

Fortune

How we lost the ability to evaluate two seemingly contradicting facts at the same time–and why it could mean the end of empathy

Instead of adopting a hyper-simplified approach, we must take a counter-intuitive approach and assume there can be multiple realities that are true.

Fortune

As billionaire hedge fund managers flock to the Middle East, a key official says watch out for Abu Dhabi as a financial hub in the next 2 to 3 years

At Fortune's Global Forum in Abu Dhabi, H.E. Ahmed Jasim Al Zaabi echoes the billionaires Alan Howard and Ray Dalio: The city is a major emerging financial district.

Fortune

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Fortune

Home prices could drop next year, but don’t expect that to solve the affordability crisis, bank exec says

Morgan Stanley forecasts a 3% drop in home prices next year—just half of the 6% price increase this year.

Fortune

Ancestry.com CEO Deb Liu credits Sheryl Sandberg for helping her navigate Silicon Valley

She recognizes that the biases she faced are still present.

Fortune

Oil and gas lobby is a ‘huge barrier’ to solar that is now ready for prime time, renewable energy founder says

Yellow Door Energy founder Jeremy Crane recounts the numerous times he sat around the table with oil execs who 'wagged their finger at me and say we’re subsidizing your business.'

Fortune

Jeff Bezos moved from Seattle to Miami—and he could take some of Amazon with him

Amazon is reportedly looking for office space in the city.

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news in one place.

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Fortune

3 problems with the new OpenAI board and what the company needs to do next

Diversifying the board may be the most urgent issue facing OpenAI's directors.

Fortune

The labor market will stay tight as shifting demographics keep draining the talent pool, warns multinational recruitment agency CEO

As more people reach retirement age and workforce activity rates decline, businesses and governments will have no choice but to embrace AI.

Fortune

The head of the Middle East's largest private oil producer says we'll need '100 times more' renewable energy to meet demand

“You need to add a new Saudi Arabia every two years just to meet the current demand," Crescent Petroleum CEO Majid Jafar said at Fortune's Global Forum in Abu Dhabi.

Fortune

How CFOs should be approaching AI, according to a McKinsey expert who believes the opportunities go far beyond productivity

Generative AI can be a tool used to “reimagine your business and your industry,” Alexander Sukharevsky said.

Fortune

13 inflation-proof stocks to buy for 2024

These companies are poised to ride the AI boom and protect investors from the impact of higher interest rates.

Fortune

Gary Gensler has remade the SEC into a crypto nemesis and climate warrior. Now a backlash is brewing

The combative former Goldman Sachs banker faces staff burnout, widening criticism from Congress, and a potential reckoning from hostile federal courts.

InsideEVs

Mazda CEO Says EVs 'Not Taking Off' In The U.S.—Except Teslas

Masahiro Moro told Fortune that the share of EVs in the overall U.S. new passenger car market is too small and EV "inventory is piling up."

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