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The Latest Breaking News from Fortune

How Salient, an AI loan processing startup valued at $500 million, grew ARR to $25 million in two years

Salient cofounder Ari Malik built AI to automate loan servicing, turning collections calls into a high-growth business now valued around $500 million.

Fortune

Trump says $1,776 'warrior dividends' were made possible partly by tariff revenue, which still lags $100 billion behind what the White House expected

The one-time check to military personnel will cost the administration $2.6 billion.

Fortune

Her two Gen Z children have starred in her films, but Oscar award-winning actress Kate Winslet says nepo baby allegations are ‘silly’

Actress Kate Winslet’s Gen Z children are following in her footsteps in Hollywood—but she’s adamant the Winslet name isn’t opening any doors for them.

Fortune

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PayPal CEO Alex Chriss says stablecoins will be key as his company navigates the ‘classic innovator's dilemma’

The nearly-three-decade-old firm is incorporating dollar-backed tokens across its business verticals, say PayPal executives.

Fortune

Top AI defense CEO sees China planning for a 'very protracted conflict' and the U.S. running out of weapons in 7 days

U.S. weapons systems are also likely difficult to mobilize in case of a conflict.

Fortune

A 24-year-old CEO convinced his parents to open a custodial account in second grade. He fears meme stocks inflate Gen Z’s dreams of getting rich quick

A recent survey led by his company shows the majority of Gen Zs believes investing is a better way to reach their financial goals than a nine-to-five job, even if they don’t know how it works.

Fortune

New York rent is so expensive this hybrid-working intern commuted by plane once a week—and it saved her thousands

Sophia Celentano's extreme weekly commute to Newark from South Carolina went viral on TikTok.

Fortune

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AI governance becomes a board mandate as operational reality lags

Fortune 500 companies are racing to formalize AI oversight.

Fortune

Want a job in AI-era tech? Forget prestigious degrees—tech leaders want to see your GitHub projects and internships

As entry-level tech hiring slows, one CEO warns avoiding AI skills would be like “taking crazy pills”—and says Gen Z must show real proof of ability.

Fortune

Fed chair contender Christopher Waller says weak jobs data is strengthening the case for more rate cuts: ‘AI is stalling hiring'

Also: All the news and watercooler chat from Fortune.

Fortune

Amazon CEO Andy Jassy announces departure of AI exec Rohit Prasad in leadership shake-up

Prasad’s exit comes after Amazon struggled to show its internal AI efforts could match those of rivals—and just as reports surface that Amazon is discussing a big investment into OpenAI.

Fortune

Experts say Amazon is playing the long game with its potential $10 billion OpenAI deal: ‘ChatGPT is still seen as the Kleenex of AI’

“If OpenAI wins the lottery, then they’d have the money to pay for this,” analyst Charles Fitzgerald said.

Fortune

Gen Z’s reality check: Birkin resale prices slump as aspirational luxury takes a hit

Once touted as a better investment than gold, the prized Birken bag no longer has the same COVID-era appeal at auction, Bernstein data shows.

Fortune

Red Lobster CEO Damola Adamolekun says the key to being a better leader is being a better person: ‘Leadership is self-improvement’

“The problem is most people are sensitive, and they don’t want to be criticized,” he said.

Fortune

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Fortune

In a frozen luxury housing market, buyers are asking to ‘try before they buy’ and having sleepovers in multimillion-dollar mansions

Sellers are trying new tactics to get the most money for their homes.

Fortune

Klarna CEO says he feels ‘gloomy’ because AI is developing so quickly it’ll soon be able to do his entire job

“My work to me is a super important part of who I am,” Sebastian Siemiatkowski said.

Fortune

Amazon’s ride-hailing exec wants to move people around in robotaxis: ‘If you’re with friends it’s dramatically more social’

According to Zoox cofounder Jesse Levinson, Amazon’s robotaxi subsidiary could have a “profoundly huge” market of people simply wanting to travel around cities.

Fortune

Enough red flags are emerging in U.S. data to justify ‘insurance’ rate cuts next year, says UBS

“There are probably enough concerns about the health of the labor market to justify an insurance rate cut by the Federal Reserve next year,” UBS’s Paul Donovan said.

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Fortune

Why more boards are taking a chance on outsider CEOs

Also: All the news and watercooler chat from Fortune.

Fortune

Federal regulators are investigating Nevada OSHA after Boring Co. citations were suddenly withdrawn

A Fortune investigation revealed in November that the citations were suddenly withdrawn earlier this year.

Fortune

IBM, AWS veteran says 90% of your employees are stuck in first gear with AI, just asking it to ‘write their mean email in a slightly more polite way’

Using AI as a “teammate” unlocks the true potential of AI productivity, according to Open Machine CEO Allie K. Miller.

The Independent UK

Trump offers six-figure wages to work in his new ‘Tech Force’ — and you don’t need a degree or experience

The “elite” team of specialists will be tasked with modernizing the the vast bureaucracy within the federal government.

Fortune

Accenture exec gets real on transformation: 'the data and AI strategy is not a separate strategy, it is the business strategy'

"Think about the people and the culture," Accenture's Chief Responsible AI Officer Arnab Chakraborty told Fortune. "It is so paramount."

Fortune

As millions of Gen Zers face unemployment, McDonald's CEO dishes out some tough love career advice for navigating the market: ‘You've got to make things happen for yourself’

As millions of Gen Z fall into NEET status, McDonald's CEO Chris Kempczinski has some blunt advice for young people: stop waiting around for help.

Fortune

Unemployment hits 4-year high as frozen jobs data shows recession risks getting 'uncomfortably high,' top economist Mark Zandi says

Payroll growth for November came in at a modest 64,000. “There’s just no forward motion,” Moody’s chief economist told Fortune.

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