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INSANE: 13 - The Real Truth

The Trump administration has doled out $100 billion in tariff refunds, but Americans are suing U.S. companies for not seeing a penny of the returns

Customers of Five Below, Sony, and Nintendo have filed class action lawsuits demanding they receive refunds from the struck-down import taxes.

Fortune

Locked out of housing, Gen Z and Millennials are building wealth in the stock market instead as they reach record high $3.1 trillion in holdings

Experts warn brokerage accounts lack a mortgage's forced savings discipline and carry other risks

Fortune

Career growth is actually a higher priority for Gen Z than work-life balance, survey says—with 93% of interns wanting to become executives

Career growth is a higher priority for Gen Z than work-life balance, workplace culture, and even salary, according to a KPMG survey of interns.

Fortune

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Bill Ackman's next big bet is convincing Americans to fall back in love with capitalism

Also: All the news and watercooler chat from Fortune.

Fortune

Current price of oil as of Aug. 5, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Trump’s tariffs were supposed to boost American manufacturing, but the new levies are actually pushing some companies back to China

“The story that it is bringing back manufacturing is really not the story,” economist Mary Lovely warned. “Manufacturing is not coming back.”

Fortune

Gen Z's anti-capitalist brand says one thing. Its spending data says something more interesting

K shape, what K shape? Everyone in Gen Z is spending money in this economy, regardless of income.

Fortune

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Scott Bessent is using moves from his hedge fund days to prop up Japan's yen—and America's $40 trillion national debt

The man who once shorted currencies is now propping them up. “He takes risks that other Treasury Secretaries over the past two generations wouldn't.”

Fortune

OpenAI fires back at Apple, publishing private emails to counter trade-secret claims

Apple is asking a judge to halt OpenAI’s use of alleged trade secrets and speed up discovery.

Fortune

Bessent's Yen gamble is a warning sign — buckle up

Fasten your seat belts: Treasury Secretary Scott Bessent has become a Big Player in the yen market. Increased volatility is right around the corner.

Fortune

He worked 100-hour weeks to rescue a bankrupt North Carolina boat company. Decades later, it drew $400 million-plus offers, but at 83, he did something unexpected

After working 100-hour weeks to save a nearly bankrupt North Carolina boat company, Eddie Smith Jr. built Grady-White Boats into a thriving business that attracted offers worth more than $400 million. But at 83, instead of taking the massive payday, Smith chose an unexpected path. Read on to find out…

The Economic Times

‘This is insider trading by definition’: Trump sells $100,000 monthly subscription service to Wall Street to further monetize the presidency

Wall Street firms will get information milliseconds faster than the general public—and Trump will directly benefit.

Fortune

DoorDash CEO Tony Xu once thought his $87 billion company would only make $100 million. He tells founders to be ‘greedy’ and dream bigger

“It’s very hard as an entrepreneur when you’re working out of your apartment, to know what that size could be one day,” DoorDash cofounder Tony Xu said.

Fortune

Could a UN-backed plan to reopen Hormuz break the deadlock?

In this week’s Fortune Gulf Brief.

Fortune

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Fortune

The radical idea behind Barnes & Noble's surprising comeback

Also: All the news and watercooler chat from Fortune.

Fortune

The Gulf’s AI boom is driving the race to control the data highways

The Gulf’s AI ambitions are spurring governments and telecom giants to invest in building out the cables, fiber networks and data centers that will determine who controls the region’s increasingly valuable flows of data.

Fortune

Ray Dalio on the AI bubble nearing 1929, 2000 levels and the lesson people always forget: 'wealth is not the same as money'

“You see a lot of people getting wealthy but you can’t spend the wealth,” the Bridgewater Associates founder told The Diary of a CEO.

Fortune

The Iran war already has a winner: The world’s largest shipbroker notching record earnings from the 'exceptional volatility' in the Strait of Hormuz

Geopolitical chaos “actually increases the importance of such firms because people are getting a bit more desperate,” one maritime trade expert told Fortune.

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Fortune

Wall Street bulls are starting to admit the earnings bubble is real—and the 60/40 portfolio may be the first casualty

Goldman’s chief global equity strategist Peter Oppenheimer said, “There does not appear to be a valuation bubble, but there may be an earnings bubble.”

Fortune

America's 'weird' and 'unwise' intervention in the Japanese yen: 'The last thing you want is to give markets any kind of reason to ask questions'

Why did the Treasury sell euros to buy yen and come to the rescue of the flailing Japanese currency?

International Business Times

A Former OpenAI Employee Built A $45 Billion Fortune From AI. Then A Hedge Fund Selloff Wiped Out Most of Its Value.

Situational Awareness ultimately sold its public equity holdings, including stakes in companies such as SK Hynix and CoreWeave, to Citadel at a discount after facing mounting margin pressure.

Fortune

Ikea's AI bot didn't replace workers. It made them more valuable

Also: All the news and watercooler chat from Fortune.

The Economic Times

Inside Jeff Bezos and Mark Zuckerberg's 'Billionaire Bunker' in Miami's Indian Creek Island

Indian Creek Island, known as the "Billionaire Bunker," offers extreme privacy for the wealthy. This exclusive enclave features limited homes and a private security force. Tech titans Jeff Bezos and Mark Zuckerberg own properties there. South Florida's luxury market attracts wealthy buyers seeking tax advantages. Scarcity, security, and discretion make…

Fortune

Two-thirds of parents say their adult Gen Z kids still rely on them financially for support—even though it's putting them under strain

About 64% of parents say their adult Gen Z children still rely on them for money, housing, and more.

Fortune

SpaceX's record IPO is helping spur a new wave of startups aiming for orbit and opening a vast new market beyond Earth

Despite SpaceX’s recent stock slide, experts say its record IPO is clearing a path for more space startups.

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