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The Latest Breaking News from Fortune

Former IRS Commissioner: Here's how we used AI to create immediate value when taxpayers scrutinized every dollar

In 2023, we began deploying AI in targeted ways to improve taxpayer service, compliance, and operational efficiency.

Fortune

In the $3 trillion private credit market, the ‘shadow default’ rate is increasing as more money chases lower-quality deals

A decline in interest rates offered by the Fed plus excessive demand for private credit investments has reduced yields for investors.

Fortune

Trump's sudden decision to hike his new tariff rate to 15% is 'something of an eff you' to the U.K., which thought it had a better deal for 10%

"It also means some of America’s biggest trading partners, like the EU and Japan, will find themselves exactly back where they were last week."

Fortune

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The Supreme Court's landmark tariff decision is the latest defeat 'piercing President Trump's seeming invincibility'

"This is significant at a time that the president seeks to head into midterm elections with a head full of steam."

Fortune

Farmer turns down $15.7 million offer from data center developers: 'It breaks my heart … the rest of every square inch is going to get built on'

"It really wasn't so much the economic end of it. I just didn't want to see these two farms destroyed.”

Fortune

Trump's plan B to impose new tariffs is also illegal because a balance-of-payments deficit doesn't exist, trade experts say

"A balance of payments deficit is not the same thing as a trade deficit."

Fortune

Microsoft CEO Satya Nadella says Bill Gates told him his big bet on OpenAI would be a flop: 'Yeah, you’re going to burn this billion dollars'

Nadella said despite the risk, “it was not that hard to convince anyone.”

Fortune

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40% of Stanford undergrads receive disability accommodations—but it’s become a college-wide phenomenon as Gen Z try to succeed in the current climate

Colleges are seeing unprecedented demand for disability accommodations as Gen Z faces continued struggles with mental health—and a desire to find new ways to succeed with the tools they’ve been given.

Fortune

How fandom became culture’s power center — and a blueprint for Gen Z’s economic influence

Fandoms sit at the intersection of identity, influence, and spending. Three dynamics explain their accelerating economic power.

Fortune

Phoebe Gates wants her $185 million AI startup to succeed with 'no ties to my privilege or my last name': 'I have a chip on my shoulder'

The daughter of Bill Gates and Melinda French Gates acknowledges her privilege but says she’s building her own thing without their help.

Fortune

You have 18 months to figure out your office job, $1 billion CEO says. But it’s not going away

Tanmai Gopal of PromptQL said tech people have a bad habit of thinking "this affects me. So it's going to affect everyone like that."

Fortune

Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich

As governments race to restrict minors’ social media use, the tech billionaires who built the platforms are imposing strict screen limits at home.

Fortune

If the recent AI and crypto shocks upset you, you're tracking the wrong cycle

Claude and DeepSeek, separated at birth?

Fortune

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

Neuroscientist Jared Cooney Horvath said older generations “screwed up” giving students access to so much technology: “I genuinely hope Gen Z quickly figures that out and gets mad.”

Fortune

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Fortune

New CBO report shows national debt spiraling into uncharted territory by 2035—and Trump's tariffs defeat will make the picture even worse

By 2035, the CBO expects the deficit to reach $2.96 trillion or 6.2% of GDP versus 5.8% today, and almost double the multi-decade, pre-pandemic average.

Fortune

Trump team livid about Dario Amodei's principled stand to keep the Defense Department from using his AI tools for warlike purposes

Anthropic might lose its $200 million Defense Department contract after the company questioned how its AI model was used during the Maduro raid.

Fortune

Jerome Powell knows the Fed's balance sheet got too big—Kevin Warsh has a plan, he just has to sell it without freaking out markets or the Treasury

"I've got a lot of sympathy for Warsh's view. But the transition from here to where he wants to get, could be problematic."

Fortune

Trump loves cheap gas—but a military conflict in Iran could nearly double your price at the pump

As Trump builds the biggest military force since 2003 outside Iran, the U.S. impacts could swing from $2.50 to $5 gasoline.

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Fortune

We heard CEOs rip into Trump's tariffs behind the scenes and the Supreme Court just vindicated them

But sadly, the economic uncertainty isn't over.

Fortune

How Costco suing Trump helps business and stoke loyalty

Every seemingly political move Costco has made, like fighting tariffs and defending DEI, was ultimately about serving the customer.

Fortune

The Supreme Court’s bombshell tariff ruling failed to answer a $133 billion question over refunds: Now what?

Costco and other firms that filed early lawsuits may have an edge when it comes to collecting any refunds.

Fortune

CFO whose business fell 10% from tariffs cheers Supreme Court ruling: ‘No single person should have unilateral authority over tariffs’

Matt Totsch, the CFO of manufacturer Trim-Tex, said businesses like his have been dealing with crippling uncertainty caused by Trump’s chaotic tariff policies.

Fortune

Trump calls Supreme Court justices who struck down his tariffs a ’disgrace to our nation’ and vows fresh duties under other laws

“I’m ashamed of certain members of the court, absolutely ashamed for not having the courage to do what’s right for our country,” Trump told reporters.

Fortune

Elon Musk bans résumés and cover letters in hiring for his chip team. These are the 3 bullet points he’s looking for instead

The Tesla CEO is nixing the résumé, following a growing trend in recruiting that emphasizes skills over credentials.

Fortune

America’s debt problem just got worse by $2 trillion with the Supreme Court’s tariff ruling

Many shoppers and companies might cheer the drawdown of Trump’s tariffs, but the truth is America really needed that money.

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