Business
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Musk wanted to flee Delaware. This CEO wants to fix it
In today’s CEO Daily: Diane Brady on the unlikely CEO trying to reform the U.S.’s corporate capital. The big leadership story: Blackstone’s COO-turned-‘accidental influencer’ The markets: Mixed globally after Trump extended the Iran ceasefire. Plus: All the news and watercooler chat from Fortune. Good morning. What’s next for Delaware, home to 1 million people and
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Fermi’s CFO resigns—just two days after the CEO stepped down
Good morning. In October, Fortune reported that former U.S. energy secretary and Texas governor Rick Perry’s AI power startup Fermi “went from nonexistent to an October IPO with a mammoth $16 billion market cap in less than a year without any announced customers or construction—or even a single dollar of revenue.” Now they are without
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Tim Cook’s exit is part of a CEO reckoning sweeping Corporate America
In today’s CEO Daily: Diane Brady explains how Apple’s handoff fits into this year’s extraordinary CEO turnover. The big leadership story: Kevin Warsh on the hot seat. The markets: Up globally amid optimism for U.S.-Iran peace talks. Plus: All the news and watercooler chat from Fortune. Good morning. 2026 is turning out to be one
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Warren Buffett’s favorite market indicator is flashing a warning
Good morning. A closely watched valuation gauge championed by Warren Buffett is signaling potential trouble in today’s market. In a new Fortune article, my colleague Shawn Tully discusses the metric—the Buffett Indicator. It is the ratio of total U.S. stock market capitalization to GDP. It has become one of the most closely watched valuation gauges
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The AI layoff trap: How cutting headcount could backfire on corporate America
Good morning! Are layoffs really the answer to increased AI adoption? That question has been top of mind for most people leaders I’ve spoken to recently. “The thing that keeps me up at night is this notion of the immediacy, of you can just use AI, get efficiencies, and release talent,” one senior HR executive
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How Carvana survived a 99% stock plunge: ‘We’re very comfortable being the underdog’
Carvana was one of the pandemic era’s biggest corporate winners. As consumers embraced online car buying and used-car prices surged, the company became a market darling and a symbol of digital disruption. By 2022, it had hit a wall. Interest rates were rising, used-car demand was weakening, and financing was getting more expensive. Carvana, which
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Cisco’s John Chambers lived through the dot-com crash. He says the AI bubble is harder to navigate
In today’s CEO Daily: Diane Brady interviews John Chambers, who knows bubbles, about the AI boom. The big leadership story: Kalshi and the SCOTUS case that could determine the future of gambling. The markets: Down in Europe as tanker attacks threaten a fragile ceasefire. Plus: All the news and watercooler chat from Fortune. Good morning.
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The $6 billion Vatican Bank was beset by scandals, disastrous investments—and ties to the Mafia. How Pope Francis tried to fix it
Although he was billed as an anti-capitalist by some, one of Pope Francis’s key accomplishments was a financial endeavor: his reform of the scandal-plagued $6 billion Vatican Bank. Francis, who died nearly a year ago at age 88, sought to reform the bank and the Holy See (the central government of the Catholic church and
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Zillow’s CEO says his friends were shocked when he quit a cushy Microsoft job—but Steve Jobs led to his success at the $10.5 billion real estate firm
The 2008 financial crisis burned bad memories into the back of Americans’ brains: employees being laid off in droves, families struggling to put food on their tables, and a housing market in peril. But Zillow’s CEO, Jeremy Wacksman, says the time was the start of a new beginning. Less than one year later, he ditched
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Meet the crypto guru to the Fortune 500
Good morning. Fortune 500 companies are already experimenting with blockchain but many CFOs are still hesitant to move real money on-chain. That topic came up in my conversation with Betsabe Botaitis, the new CFO of P2P.org, a company that helps large institutions earn returns from crypto assets. P2P provides the behind-the-scenes technology, such as like