Finance
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How FIFA restructured the World Cup into its biggest payday ever, as host cities face a budget shortfall
FIFA will collect an estimated $8.9 billion from the 2026 World Cup while the 11 U.S. cities hosting it could face a collective shortfall of upwards of $250 million. And that’s thanks to FIFA’s restructuring of how it runs the World Cup. For most of the tournament’s history, a World Cup was run by a…
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The $17 billion mistake hidden inside SpaceX’s blockbuster IPO
The business media and analyst community almost universally hailed the SpaceX debut on June 12 as achieving a kind of triumphal golden mean. The overwhelmingly positive take: The offering managed to simultaneously raise the biggest cash proceeds, and launch the largest valuation for a newly-traded U.S. enterprise ever seen, provide terrific quick gains for institutional…
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The U.S. and Iran have signed a peace deal. How long will it take for oil flows in Asia to return to normal?
The U.S. and Iran signed a long-awaited “memorandum of understanding” on June 17, pausing a Middle East conflict that upended global oil markets. As part of the deal, Iran agreed to reopen the Strait of Hormuz, the waterway that leads to the Persian Gulf and home to some of the region’s top oil producers. Iran’s…
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Exclusive: Son of pro-crypto New York Senator Kirsten Gillibrand raises $30 million to launch a derivatives exchange
The 22-year-old son of a crypto-friendly senator plans to launch his own exchange for a type of derivative popularized by digital asset traders. Theodore Gillibrand, whose mother is Sen. Kirstin Gillibrand (D-N.Y.), has drummed up $30 million in a fundraise led by the venture firm Lux Capital, according to two sources familiar with the matter.…
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Exclusive: Arizona senator warns ‘ghost jobs’ are warping labor data, presses Trump admin to investigate
Sen. Ruben Gallego (D-Ariz.) pressed the Trump administration on Thursday to crack down on companies that post online listings for jobs that don’t exist. In letters to the Department of Labor and Federal Trade Commission, Gallego asked the agencies to investigate how widespread “ghost jobs” are, explain how they show up in federal labor data,…
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Teen summer employment is headed for its worst year since 1948
Jaelyn Chester will wait your tables or stock your shelves. She’ll wash your dishes or scrub your toilets. If only someone would give the 17-year-old a chance. “I’ve been looking everywhere,” says Chester, an A+ student, high school basketball star and aspiring engineer who has blanketed her community with dozens of applications. “I’m not unemployed…
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Europe’s $29 billion Iran War bill is driving a scramble for new energy routes
The Iran war ‘s shock to global fuel prices has reinforced Europe’s stance that it must forge alternative trade and energy routes to the Strait of Hormuz. Here is a look at what the European Union is contemplating to bolster its energy security and minimize the impact of future conflicts as it turns to Gulf…
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Current price of oil as of June 18, 2026
By 8:40 a.m. Eastern Time today, oil had reached $79.46 per barrel, measured using the Brent benchmark. That’s $1.32 less than it cost yesterday morning and about $3.13 above its price a year earlier. Oil price per barrel % Change Price of oil yesterday $80.78 -1.63% Price of oil 1 month ago $112.93 -29.63% Price…
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The next-generation ‘Tiger Cubs’ who see the AI bubble risk—and know exactly where the next trade is
For the better part of four years, AI has been the only trade that mattered. Nvidia. Data centers. The infrastructure buildout. A rising tide of capex spending that has minted fortunes and reshaped the S&P 500. If you were long the AI stack, you were a genius. Ben Silver and David Tykocinski think the easy…
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We’ve now got the full text of the U.S.-Iran peace deal—and allies are appalled at the gains it hands to Iran
Good morning. On Fortune’s radar today: We’ve now got the full text of the U.S.-Iran peace deal. Allies are glad the war is over but appalled at the gains it hands to Iran. Markets threw a fit over Kevin Warsh’s first appearance as Fed chief. Europe’s Most Innovative Companies: See the definitive list here. Elon…