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Fortune
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PublisherFortune Magazine
New York, New York
The best of business since 1930.
14,554 Posts
Mark Zuckerberg warns of stock volatility as Meta bets billions more on AI investment 'before we make much revenue'
By Alexei Oreskovic Brace for turbulence, and have patience. That was Mark Zuckerberg's message to Meta shareholders on Wednesday as he explained his decision to plow tens of billions of dollars into a multi-year AI spending spree that will precede any meaningful payoff. The cofou Rubrik valued at $5.6 billion after massively oversubscribed IPO prices above range
By María Soledad Davila Calero The much-anticipated IPO of Rubrik, which was 20 times oversubscribed , generated some $736 million as shares exceeded the initial pricing range sought by the Microsoft -backed tech firm. The cloud and data startup offered 23 million shares, all from th The FTC noncompete ruling will narrow the gender gap in entrepreneurship
By Matt Marx Monday's FTC announcement to implement a nationwide, retroactive ban on the enforcement of employee noncompete agreements promises to improve wages, career prospects, and innovation. Given that a legal challenge has already been filed in objection to the agency's auth Investors yank $2.2 billion from Cathie Wood’s once-mega popular Ark funds, even as tech skyrockets
By Marco Quiroz-Gutierrez Cathie Wood’s star rose during the pandemic for well-timed bets in companies such as Tesla , Zoom , and Roku , but those same bets are now dragging her Ark funds down and investors have withdrawn billions of dollars this year in protest. Funders have since Ja After shrugging off a $355 million loss, Boeing slogs through fresh allegations it retaliated against workers
By Sasha Rogelberg Fresh off questions about the structural integrity of its airplanes, Boeing is now battling multiple accusations that it shut down employees for trying to raise safety concerns. A union representing Boeing employees said this week that the plane maker, in 2022, r The race for human-AI interaction usage data is on—and the stakes are high
By Jeroen Van Hautte With the announcement of its new Llama 3 model , Meta is getting ready to put artificial intelligence across WhatsApp, Instagram, and Facebook . It’s a move that could eventually put the model in the hands of more than 3 billion daily users. This unprecedented f A new reality of 7% mortgage rates could be setting in, top economist says
By Alena Botros Mortgage rates surpassed 7% for the first time all year last week, according to Freddie Mac; daily readings are trending higher , with the average 30-year fixed mortgage rate at 7.39%. It’s a far cry from the historically low mortgage rates seen throughout the pande Luxury home prices have gotten so unwieldy that Ye, formerly Kanye West, had to slash the price of his Malibu mansion by around $14 million
By Sydney Lake Even the wealthiest of buyers are facing a housing market in which prices continue to skyrocket. Indeed, the price of typical luxury homes jumped nearly 9% since the start of the year—making them the most expensive they’ve ever been . Yet some high-profile properties ‘We are in a tough moment’: Boeing slows airplane deliveries 36% as it fights to regain public confidence
By Will Daniel After multiple highly publicized issues with Boeing’s Max line of airplanes, Wall Street’s eyes were locked on the company’s earnings report Wednesday. The good news was the struggling aerospace and defense giant managed to beat analysts’ earnings per share and reve Why David Beckham is suing Mark Wahlberg's fitness company
By Jasmine Li David Beckham is taking on Mark Wahlberg—but not on the soccer pitch. The soccer icon is suing F45 Training, a fitness company co-owned by the actor, claiming it owes him millions of dollars for an endorsement deal. According to court filings, Beckham entered a five-ye China drives both EV production and sales—but the fate of the country’s EV brands could soon be in the hands of emerging markets like Thailand
By Lionel Lim China is the center of the global EV market . More than half of all EVs sold last year were produced by Chinese companies, according to a recent report from the International Energy Agency. Sixty percent of all EV sales in 2023 were in China. Yet China’s EV success co Bird flu fragments are in pasteurized milk now, but government still considers it safe to drink
By Sunny Nagpaul A highly pathogenic avian influenza has been spreading among cow herds over the country since February and has jumped species, infecting humans and chickens . Most recently, particles of the virus have been detected in pasteurized milk, but it’s not a cause for wor The university protests against Israel's action in Gaza are a defining moment for Gen Z
By Chloe Berger What makes a generation? It’s not their mercurial takes on jean length and rise; what corny emojis they choose; or even what they eat, drink, and watch—at least that’s not the main gist of it. Rather, it’s about how a cohort of like-aged people choose to respond to As Boeing burns through $3.8 billion in cash, it exposes a painful truth for investors: Right now, it can’t make planes fast enough to turn a profit
By Shawn Tully In the early hours of April 24, the Boeing Co. posted staggering losses for Q1 of 2024. The troubled manufacturer suffered a deficit of $3.8 billion in free cash flow, meaning that it bled 22 cents for every dollar collected in revenue. Though its numbers were bette Key takeaways from Google's mass firing about balancing employee activism with corporate policies
By Ruth Umoh The social justice activism that marked the post-summer 2020 years in pedagogical and corporate institutions appears to be coming to a halt. From the halls of Ivy League universities to those of corporate America, more leaders are tamping down on protests and demandin Biden administration’s ‘commonsense’ retirement rule could save workers $5 billion a year
By Alicia Adamczyk When you’re looking to an investment advisor to help roll over your 401(k), you might assume the one you choose has your best interests in mind: They’ll help minimize fees and pick the investments best suited for your age, risk tolerance, and financial goals. Be RE/MAX chairman shrugs off groundbreaking $418 million commissions settlement, saying realtors will adapt
By Alena Botros The National Association of Realtors’ $418 million settlement over an alleged conspiracy to inflate commissions received preliminary approval yesterday. It’s a new world order: Sellers won’t have to pay buyers’ agents anymore. There’s been talk of a metaphorical de GM is on the rise—but for now, EVs are holding it back, not leading the charge
By Dylan Sloan Legacy automaker General Motors reported strong profits Tuesday, despite lagging sales in China and price cuts to some of its models. But beneath the surface, the automaker's strong financial performance is powered by gas: GM’s quarterly gains were led by its popula Chase Sapphire Reserve review: A rockstar among premium travel cards
By Adam B. Frankel Fortune Recommends™ has partnered with CardRatings for our coverage of credit card products. Fortune Recommends™ and CardRatings may receive a commission from card issuers. Our take: The Chase Sapphire Reserve® upstages the competition for its valuable rewards v Ryanair CEO dishes advice to Boeing on managing its crises: ‘Never put a pilot in charge of an airline’
By Sasha Rogelberg Boeing has weathered passenger deaths in its planes, ongoing safety emergencies, an FAA investigation, frequent Senate hearings, and rocky finances that have contributed to CEO Dave Calhoun announcing he will step down from the company at the end of the year. Ry
