The Houthis’ Saudi attacks are ‘unprecedented.’ Trump wants to ‘ignore’ them until the midterms, but the chaos may force U.S. to respond
The Houthis are "misbehaving very badly," but the U.S. is doing little in reply—for now.
Fortune AI5 min read
Finance
107 stories
Chevron CEO warns oil buffers that cushioned the Iran war shock have been ‘drained’—and diesel relief may not come until 2027
Mike Wirth says commercial stockpiles, emergency reserves, and once-sanctioned barrels have all been tapped, leaving the global energy system more exposed just weeks before the midterms.
Fortune AI4 min readWall Street’s earnings split: Goldman’s $18.7 billion blowout quarter—and why JPMorgan and BofA fell short
JPMorgan announced its first earnings miss in almost three years, while Goldman delivered its second-highest quarterly net revenue ever. A $1.2 billion regulatory penalty weighed on Bank of America's already lackluster quarter.
Fortune AI5 min readAs Social Security races toward insolvency, retirees are getting their biggest COLA boost in 4 years
The AARP's Rich Johnson said family budgets "have been under increasing pressure because of rising prices."
Fortune AI3 min readBank of America hired contractors to protect its software from powerful rogue AI agents
CEO Brian Moynihan told analysts that BofA had hired 1,000 extra staff for what he called "Mythos remediation."
Business Insider - AI2 min readShifting AI Doomsday Predictions Reportedly Worry Banking Regulators
European regulators are expecting AI-driven financial chaos sooner than later.
Gizmodo — AI4 min readMore than a third of Americans earning over $500,000 say they’re living paycheck to paycheck, Goldman Sachs finds
Nearly half of $500K-plus households pay only the minimum on their credit cards, and 80% have put off a major financial goal—more than middle earners on both counts.
Fortune AI4 min readBinance weighs stock access in markets including Hong Kong and South Korea, says co-CEO Richard Teng
Several cryptocurrency exchanges are transforming themselves from apps devoted to coins into platforms handling different asset classes.
Fortune AI4 min readTwo U.S. professors win Nobel prize in economics
Stanford University's Robert E. Hall and Columbia University's Michael Woodford won the Nobel Prize in economics for research on how policymakers can stabilize economies, the Royal Swedish Academy of Sciences said on Monday.Why it matters: Their work helped shape how central banks set interest…
Axios AI+2 min readRay Dalio and billionaire F1 boss Toto Wolff traded tips on how to get the best out of staff using 'tough love'
Ray Dalio and Toto Wolff discuss leadership and team management strategies at the Milken Institute Asia Summit, emphasizing tough love.
Business Insider - AI3 min readOil theft is on the rise in the heart of U.S. shale country—and it’s mostly carried out in targeted, organized heists
According to a Dallas Fed survey, 32% of executives who were impacted by oil theft said it had increased slightly over the last 12 months.
Fortune AI3 min readSenators call on Trump to scrap diesel deal, saying U.S. ‘should not provide Putin with a financial lifeline’ while Russia kills Ukrainian civilians
“We were very clear that Russia is the aggressor. Russia is the one who can end this war by backing out of territory that they occupied.”
Fortune AI3 min readChina’s debt interest costs are soaring above U.S. levels and growing faster than any other budget category as Beijing struggles to prop up growth
China's spending on interest payments accounts for 19% of the central government’s general public budget and skyrocketed 341% between 2013 and 2025.
Fortune AI3 min readFor the first time ever, 10-year bond yields track diesel prices more closely than crude, and Trump’s fuel deal with Putin may be too little too late
"Ultimately, diesel and gasoline drive inflation, not crude oil."
Fortune AI4 min readAI won’t fix America’s debt, Guardian analysis argues
The White House hopes AI will help the US grow its way out of debt. That is a new take on the Reagan-era promise that tax cuts pay for themselves, Eduardo Porter argued in an analysis for The Guardian.
The Next Web AI2 min readCBO chief warns it’s ‘probably not plausible’ that a strong economy alone can steady U.S. debt as 5%-6% growth is needed—more than Bessent’s 3% view
"So then we're left with changes in revenues and changes in spending, and those are inherently political choices."
Fortune AI3 min read‘Fantasy economics’ hit reality: Boomer vs. Gen Z fight roils France as pension costs drive debt crisis and education cuts that fuel student riots
"Thus the fiscal pressure caused largely by France’s very generous government pension plan has led to cutbacks in other spending, notably on education."
Fortune AI4 min readLaw firm Quinn Emanuel maps how AI data centre debt could unravel
A memo from US law firm Quinn Emanuel sets out how the debt behind the AI data centre boom could turn into a wave of lawsuits. Liz Hoffman reported that it was doing the rounds again this week for Semafor. The 20-page client alert was first published in March.
The Next Web AI2 min read
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