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INSANE: 7 | Vintage Vibes

Tim Cook is stepping down. No one is shocked. And that’s a good example of why his critics always underestimated him.

Everything you need to know before you reach the office this morning.

Fortune

Exclusive: Startup Humble debuts cabless autonomous truck targeting $900 billion U.S. freight industry

Built by veterans of Tesla, Waymo, and Otto, Humble’s approach challenges how autonomous trucking has been done so far.

Fortune

Tim Cook's exit is part of a CEO reckoning sweeping Corporate America

Also: All the news and watercooler chat from Fortune.

Fortune

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What happens if nothing is done to fix Social Security by 2032?

There would be an immediate and painful effect on retiree households if something isn't done soon.

Fortune

U.S. Energy Sec says gas prices have likely peaked, but won't go below $3 until 2027. Trump says he’s ‘totally wrong’ about the timeline

The war could end in just a couple of weeks, says Energy Secretary Chris Wright, but it could take months for prices to go down.

Fortune

Jeff Bezos once gave Eva Longoria and the admiral behind Osama bin Laden's capture $100 million—but she says you don't need wealth to give back

Jeff Bezos gave Eva Longoria $50 million for philanthropy. Two years on, she says the biggest myth is that you need to be rich to give back.

Fortune

Blackstone president Jon Gray is going viral on LinkedIn for his running videos

Blackstone COO Jon Gray is jogging his way to internet virality, and other C-suite executives are taking note.

Fortune

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Hillhouse-backed Ascentium buys fellow business services firm Dezan Shira, as the platform tries to ride China's surge in outbound investment

Ascentium, founded in 2024, is pursuing an aggressive roll-up strategy to quickly build its geographic footprint across Asia.

Fortune

This Apple doesn't fall far from the tree: Tim Cook is leaving at a peak and John Ternus is exactly the right CEO for the AI era

The market's muted reaction to Apple's leadership handoff is shortsighted. Cook's deliberate, Steve Jobs–approved succession puts Apple ahead of AI rivals.

Fortune

Nike’s ‘Walkers Tolerated’ sign at the Boston Marathon was meant to fire up runners. Instead, it insulted them

The sign sparked a backlash that reveals deeper problems for the brand.

Fortune

Financially struggling, AI power startup Fermi loses its CEO and CFO for ‘2.0’ reset

Fermi touts “acceleration in customer conversations” since the leadership changes.

Fortune

‘Tethered to a galaxy far, far away’: Former diplomats doubt Trump’s Iran talks can deliver in time

Oil is already climbing again after the ceasefire started withering this weekend.

Fortune

$166 billion in tariff refunds just became available, but small businesses may already be at a disadvantage

U.S. Customs and Border Protection launched an electronic tariff refund portal on Monday, the first step in U.S. importers getting their refunds.

Fortune

Meet John Ternus, the 51-year-old former swimming champ who will succeed Tim Cook as Apple CEO

Apple just announced Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of hardware engineering, will become Apple’s next CEO.

Fortune

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news in one place.

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Fortune

Apple CEO Tim Cook is stepping down, and hardware boss John Ternus will be new CEO

The CEO change ends an extraordinary run by Cook, who succeeded Apple’s legendary cofounder Steve Jobs as CEO in 2011, stepping into perhaps the biggest shoes to fill in business history.

Fortune

White House–backed USA Rare Earth makes $3 billion acquisition in South America

USA Rare Earth is building a global supply chain across the U.S., South America, and Europe.

Fortune

Palantir wants to bring back the draft just as the Selective Service preps for automatic registration

“We should, as a society, seriously consider moving away from an all-volunteer force and only fight the next war if everyone shares in the risk and the cost.”

Fortune

Data centers now account for half of all new U.S. electricity use, just as Americans start to sour on AI

Data centers—like the AI models being trained in them—have become a political flash point.

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Fortune

Ford CEO says Tesla doesn’t have an ‘updated vehicle,’ and now he’s pivoting to catch up with his real competitor: China’s BYD

Ford CEO Jim Farley drove a Chinese EV for six months and liked it so much he didn’t want to give it back. Now he’s overhauling Ford.

Fortune

This talent CEO says laid-off tech workers are ignoring a $300K ‘white-collar trade job’ with 81K openings a year

As AI layoffs threaten the white-collar workforce, the $700 billion data center build-out is minting six-figure technician roles, and employers can’t fill them fast enough.

Fortune

Billionaire Connie Ballmer just donated $80 million to support NPR after Trump cut $1.1 billion from public broadcasting

Ballmer and an anonymous donor gifted the network more than $110 million to support digital transformation and local stations.

Fortune

UAE officials reportedly warned they may be forced to use yuan or other currencies if they run low on dollars amid the Iran war

Any pivot away from the dollar by a top oil producer would represent a major threat to the currency’s supremacy.

Fortune

Italian court rules every Netflix price hike from 2017 to 2024 unlawful and orders the company to refund subscribers up to 500 euros

According to Italian consumer law, companies cannot unilaterally alter subscription prices without stating a legitimate justification in the contract.

Fortune

Nvidia CEO says that AI agents will make workers busier than ever—they’ll ‘harass’ and ‘micromanage’ you, instead of take your job

Jensen Huang, CEO of $4.8 trillion tech giant Nvidia, says AI will help humans explore space, get better at their jobs, and live more cost-effectively.

Fortune

Spirit Airlines looked like it was in the clear of reemerging from bankruptcy, but rising fuel costs threaten its exit

The budget-friendly airline had planned to exit its second bankruptcy by the summer. Now, it’s at risk of liquidation.

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