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The Latest Breaking News from Fortune

The 5 reasons behind Monday’s global stock market rout

"The ‘Wall of Worry’ certainly has a broad enough foundation currently,” Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers, said.

Fortune

An EV charging company will penalize drivers who take more than they need

Once batteries reach 85%, the cord will shut off automatically, and loiterers will be charged 40 cents-a-minute.

Fortune

How to survive the stock market bloodbath, according to financial advisors

On the worst day in stock markets in nearly two years, financial advisors say: “Stop freaking out and just stay in."

Fortune

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U.S. to ban Chinese software in self-driving cars amid national security fears

Chinese-made autonomous vehicles have driven 1.8 million miles in California alone since 2017.

Fortune

Elon Musk revives feud with OpenAI’s Sam Altman—‘the Emperor has no clothes’

In a lawsuit filed Monday, the Tesla boss alleged OpenAI abandoned its goal of helping humanity in favor of making money.

Fortune

An emergency Fed rate cut of 75 basis point is needed now, Wharton’s Jeremy Siegel says

Another cut of 75 basis points should come at the Fed’s next meeting in September, he added.

Fortune

Nvidia challenger Groq just raised $640 million for its AI chips. Its college dropout CEO says a viral moment was 'a game changer'

The startup, now worth $2.8 billion, develops chips that specialize in speeding up AI "inference" and offers the compute power through its own AI cloud service.

Fortune

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Women will soon have more money than men for the first time in history—and they’re following the MacKenzie Scott and Melinda Gates playbook

The unprecedented transfer of wealth to women is projected to reach $30 trillion in the next decade—and it will change the face of philanthropy.

Fortune

The global market meltdown just sent Wall Street’s ‘fear gauge’ to a 4-year high

“[T]his market volatility is mostly a global carry trade unwind and a reevaluation of the AI hype,” Jim Smigiel, chief investment officer at SEI, argued Monday.

Fortune

Steve Jobs was wrong. Finding work that you love might be the worst thing you can do

The pressure to love your work has been heating up since the seminal 2005 commencement speech at Stanford University by late Apple founder Steve Jobs

Fortune

Exclusive: Savvy Wealth closes Series A at $26.5 million

Savvy has raised $15.5 million in an additional round led by Canvas Ventures, closing the startup’s Series A at $26.5 million, Fortune can exclusively report. Thrive Capital, Brewer Lane Ventures, Index Ventures, The House Fund, and Alumni Ventures, all existing investors, also participated in the round.

Fortune

Powell faces a market mutiny if he doesn't make a September rate cut—Wall Street has 'locked in' timings after unemployment concerns

"The bottom line is that the weaker-than-expected July employment report led us to change our baseline expectation for the first Fed to September."

Fortune

Rolls-Royce employees to benefit from stunning turnaround as it hands out nearly £30 million of company shares

Rolls-Royce employs approximately 42,000 people, all of whom will receive a piece of the company as its business booms.

Fortune

Meet this year's Fortune Global 500

Walmart sits at the top of Fortune's list of the world's largest companies by revenue. Amazon is No. 2. Saudi Aramco, at No. 4, is the most profitable.

Fortune

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How India's fast-growing middle class propelled HDFC Bank into the Global 500

After a recent merger, HDFC has 93 million customers and a huge footprint in mortgages, checking, and savings.

Fortune

Rich, western countries face a stark choice: 6-day workweeks or more immigration, top economist warns

One of the world's foremost economists, Lant Pritchett, has a plan.

Fortune

Work-life balance is a 'gauntlet' for women, Ellevest founder Sallie Krawcheck says

Sallie Krawcheck has held a variety of top jobs at Wall Street titans like Sanford C. Bernstein, Smith Barney, Merrill Lynch, and Bank of America.

Fortune

Gen Z is going sober. It's changing the alcohol industry

As Gen Z cuts down on alcohol, NA beer sales are soaring.

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Fortune

As AI gobbles electricity, is now the time to buy unloved utility stocks?

Compared to the pricey stocks of Big Tech players like Nvidia and Microsoft, energy and electricity stocks are an affordable way to play the AI boom.

Fortune

Luxury gyms are changing how we exercise—and how we live

Gyms like Life Time charge high membership fees and require huge spaces. But they pitch consumers on a holistic lifestyle that keeps them coming back.

Fortune

Breaking took decades to make it from New York’s streets to the Paris Olympics. Despite a big sporting debut, its future still hangs in the balance

“Having that Olympic stamp for any sport changes the game of play,” an expert told Fortune. But what will breaking's Olympic future look like?

Fortune

I flew 3,400 miles with my golden retriever on a one-of-a-kind luxury airline for dogs—here's what it was like

Fortune reporter Sydney Lake and her golden retriever, Lulu, tried Bark Air—a dog-first flight experience.

Fortune

A dangerous, polarized nation is pushing these Americans to relocate abroad—their hope is to find peace and prospects

"After there was an assassination attempt … and you see how much divisiveness there is it’s like: ‘At what risk do I put myself being in the country at that time?’"

Fortune

This accurate recession indicator is flashing red, but the ‘Sahm rule’ creator says ‘this time really could be different’

“I am not concerned that, at this moment, we are in a recession,” Claudia Sahm told Fortune, adding that “no one should be in panic mode today, though it appears some might be.”

Fortune

U.K. government meets Big Tech—including a16z crypto: ‘Unlike in the U.S., it’s not political’

As crypto remains politicized in the U.S., across the pond, it’s bridging the gap.

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