Financial Mindset

A perfect storm may soon hit leadership in corporate America , with baby boomers retiring and Gen Z unenthused about climbing the career ladder. However, experts argue that slashing development budgets and stereotyping young people as lazy is only making matters worse. Who wants to be the boss anymore? According to the headlines, not Gen Z.  The bright young minds of tomorrow are just not striving to climb the corporate ladder as much as their older colleagues, but it’s not coming from a lack of interest in management. Instead, a generational disconnect in how leaders should wield their power is to blame. Gen Z employees are concerned about leadership’s basic interpersonal skills, and nearly half of them want better communication and teamwork training, according to a recent Korn Ferry report . Major companies like Amazon are cutting middle manager roles , leaving early-career employees left without a model of leadership pathways. About 41% of employees say that their organ...

Section 899 of the “One Big Beautiful Bill” moving through Congress has raised growing alarms on Wall Street, after the once-obscure provision was initially overshadowed by the budget proposal’s estimated impact on the deficit. Deutsche Bank warned that what’s been dubbed the “revenge tax” could further harm the attractiveness of U.S. assets. As Wall Street continued digesting the myriad line items in the 1,000-page budget bill that passed recently, one part has triggered an especially acute case of heartburn. Section 899 of the “One Big Beautiful Bill” moving through Congress has raised growing alarms, after the once-obscure provision was initially overshadowed by the budget’s estimated impact on the deficit. It has been dubbed the “revenge tax” because it would increase rates for individuals and companies from countries with tax policies branded as “discriminatory.” That means foreign investors, who own trillions of dollars in U.S. assets, could face higher levies on passiv...

John Green is best known for his tear-jerking young adult novels. But beyond the emotionally charged lives of two teens bound by more than their illnesses in his bestseller, The Fault in Our Stars, Green has become widely recognized for giving his curious audience a crash course in everything from history and philosophy to science and current events. He’s known to his over two million social media followers as an expert in centuries-old historical events, global health, and our modern technological landscape.  Green is able to connect with a broad audience because of his uncanny ability to understand the dark and complex realities of people—particularly young ones. And he has a message for them. “I worry a lot that young people are affected by the terrible disease of loneliness at a scale that we haven’t seen before,” he tells Fortune . With the rise in social media came a decline in mental health, and a global pandemic that shut down schools and isolated kids as they were comi...

Brenda Lam uses an AI chatbot at least once a week. For the 69-year-old retired banker from Singapore, the chatbot brings her peace of mind.  “It motivates me,” says Lam, who communicates with AMI-Go, created by and in partnership with Singapore University of Technology and Design (SUTD) and Lions Befrienders, a social service organization to support older adults.   When Lam speaks with the bot, she usually asks questions to get suggestions and ideas for how to enjoy life. “What can I do to live life to the fullest?” is one of her latest questions.  The chatbot responded with tips, including getting exercise outside and picking up a hobby like gardening, reading, or sewing. “The responses encourage me,” she says. Though she has family and friends close by, Lam says the chatbot is always reliable.  “I feel it’s a bit like a replacement if friends are not available to have time with me,” she says. “When we have the chatbot, it’s always there for us.”  ...

The Trump administration is preparing for a Supreme Court battle that could reshape presidential power by deciding the extent of the executive branch’s authority over tariffs, which was originally granted to Congress by the Constitution. The administration appealed after many of its recent tariffs were invalidated by a federal trade court, which argued the president’s actions were too sweeping and cut into Congress’ authority. President Donald Trump’s struck-down tariffs are almost guaranteed to end up before the Supreme Court, experts say, and the outcome is a toss-up that could shape presidential power for years to come.  The Supreme Court rarely opines on trade issues, said Lee Smith, shareholder and leader of the international trade and national security practice at law firm Baker Donelson. The last case it heard on the topic was decided in 2009— U.S. v. Eurodif S.A ., which dealt with the “anti-dumping” duties on low enriched uranium, he said.  Yet, this week, the ...

President Donald Trump said Friday that he’s doubling the tariff rate on steel to 50%, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods. Trump spoke at U.S. Steel’s Mon Valley Works–Irvin Plant in West Mifflin, Pennsylvania, near Pittsburgh to discuss investments by Japan’s Nippon Steel. The price of steel products has increased roughly 16% since Trump became president, according to the government’s producer price index. Trump said U.S. Steel will stay an American company under a deal for Japan-based Nippon to invest in the iconic American steelmaker. Few details about the deal have been made public. “We’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company,” Trump said as he opened an event at one of U.S. Steel’s warehouses near Pittsburgh. “You’re going to stay an American company, you know that, right?” Trump said doubling the tariffs on imported st...

U.S. Treasury Secretary Scott Bessent said trade talks with China are “a bit stalled,” and that a call between President Donald Trump and his counterpart Xi Jinping may be needed for the world’s two largest economies to reach a deal. “I would say that they are a bit stalled,” Bessent said of the talks in an interview with Fox News Thursday.  Bessent, who traveled to Switzerland earlier this month for talks with Chinese officials that saw both sides retreat from tariffs over 100% on each other’s goods, said he believes more talks will happen with Chinese officials “in the next few weeks.” Still, Bessent said he sees the personal involvement of both country leaders as essential.  “I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other,” Bessent said.  The last time the two presidents spoke was in January, days ahead of Trump’s inauguration. The U.S. president  said  he would s...

With one new AI capability after another entering the mainstream, it’s tempting to give each one the same cursory consideration. But some merit more attention than others. Consider AI deepfakes. Scammers can now use generative-AI tools to create voices, or even live video fakes, that sound or look like specific people—and request money transfers. As such, there’s a “significant” risk of such capabilities “breaking the trust and identity systems upon which our entire economy relies,” said Emily Chiu, CEO of Miami-based fintech startup Novo, at Fortune ’s Most Powerful Women summit in Riyadh, Saudi Arabia, last week. AI-powered fraud She cited a case in Hong Kong last year in which a finance employee was duped into transferring more than $25 million to fraudsters . The employee, despite being skeptical after receiving an email request for the funds, was lured into a Zoom call in which nobody else was real—though they looked and sounded like the company’s U.K.-based CFO and other exec...

The world’s largest crypto exchange and the Securities and Exchange Commission have agreed to end one of the most consequential—and ongoing—lawsuits in the U.S against a crypto firm. In a joint filing submitted to a New York federal judge on Thursday, Binance and the SEC asked a federal judge to dismiss the case. A spokesperson for the federal regulator did not immediately respond to a request for comment. “We’re deeply grateful to Chairman Paul Atkins and the Trump administration for recognizing that innovation can’t thrive under regulation by enforcement,” said a Binance spokesperson, referring to the current SEC chair. The pending dismissal puts an end to a nearly two-year battle between the SEC and Binance. In 2023, the agency, under President Joe Biden, alleged that Binance violated U.S. securities laws in what former SEC chair Gary Gensler said was an “extensive web of deception.” At the time, the SEC filed 13 charges against the exchange and alleged that the crypto company l...

Finding a way to manage stress and anxiety takes a lot of mental effort, which is why some look to supplements for additional support. And if you’ve ever researched the many different suggestions for stress and anxiety management, you’ve likely come across the term adaptogens. These are ingredients derived from herbs, roots, mushrooms, and plants that are converted into nutritional supplements or added to other foods. Adaptogen supplements have surged in popularity—the market value was estimated at over $10 billion in 2023 and only expected to grow. Common adaptogen supplements include ashwagandha , rhodiola, and ginseng, which can be found in capsules or teas; and fungi, like the reishi mushroom, which is often dried and crushed into a powder. As adaptogens have become more mainstream, you can even buy in the form of mushroom coffee, sparkling water, and drink mixes. But do these supplements actually work? Here’s what one expert has to say. Do adaptogens help relieve stress and an...

Russian President Vladimir Putin said Russia needs to “strangle” Western tech companies still operating in the country. The comments come after a Monday meeting at the Kremlin where a businessman claimed Russian consumers are still using Microsoft and Zoom products in the country. Many Western companies pulled out of Russia following its full-scale invasion of Ukraine in 2022, but a Russian businessman claims two American tech companies’ products are still being used by some, and Vladimir Putin wants them gone. During a meeting with business leaders at the Kremlin Monday, Russian President Vladimir Putin said it was time to get tough on Western tech companies whose products are still capturing consumers in Russia. “You just have to strangle them. I agree completely,” he said, according to Business Insider . “I say it without any embarrassment, because they are trying to strangle us. We need to reciprocate. That’s it.” The tough rhetoric comes after Russian businessman Stanisla...

Salesforce Inc. raised its annual sales forecast, suggesting that its AI agent product is on a path to contribute significant revenue. For the year ending in January 2026, the company said revenue will be $41 billion to $41.3 billion, compared with an earlier forecast of $40.5 billion to $40.9 billion.  Leading technology platforms such as Salesforce, Microsoft Corp. and ServiceNow Inc. are competing to offer AI agents — software that can complete tasks such as customer service without needing direction from a person. Salesforce launched its “Agentforce” product in October and is aiming for broad adoption among its customers. Still, investors are waiting to see a more significant revenue contribution from Agentforce. The company said in a statement Wednesday that it closed more than 4,000 paid deals for the product. Earlier this week, the San Francisco-based company announced it would  spend about $8 billion  to buy Informatica, which focuses on organizing and mana...

Summer is the season of escape—whether you’re headed to the beach, lounging by the pool, or simply turning your home into a sunny sanctuary. We’ve rounded up the best of the season, from outdoor must-haves such as beach bags and sunglasses that do more than just block UVs to chic home accessories. Let the good times roll.  10 luxury gifts that are worth the splurge: Illustration by Sol Cotti; Courtesy of Ray-Ban RAY-BAN META SMART GLASSES Blending smart tech with style to beat the sun’s rays ; from $299 Courtesy of Farfetch and Stanley PRADA LEATHER-TRIMMED WOVEN TOTE BAG Minimal yet an essential for your summer wardrobe; $2,250 STANLEY ICEFLOW FLIP STRAW TUMBLER Crafted to keep you stylishly hydrated; $35 Courtesy of ABASK, Tate Shop and SMEG HANDWOVEN IRACA PALM NAPKIN RINGS by ABASK More than just decoration, these napkin holders bring a slice of summer straight to your dining table; from $108 RED WIRE MESH BOWL Designed for MoMA, this bowl combines form a...

Consumers across the Muslim world are growing wealthier–and they want to buy things that reflect their values. That’s encouraged growth in the “halal economy,” goods and services that align with Islamic principles. But with growth comes potential confusion, as several countries currently have their own certification bodies and logos. Malaysia’s Deputy Prime Minister Ahmad Zahid Hamidi wants to expand the “halal economy.” Speaking at the Fortune ASEAN-GCC Economic Forum in Kuala Lumpur on Wednesday, he revealed the Association of Southeast Asian Nations (ASEAN) has agreed in-principle to have a common halal logo across the 10 countries in ASEAN, and that there would be a discussion about a global halal certification in Riyadh in November. The GCC is made up of six countries that include Saudi Arabia, Qatar, and the United Arab Emirates.  “Halal is not only F&B, but pharmaceutical, banking, insurance. The way of life for Muslim is halal and we would like to share this knowle...

John Woeltz made headlines on Friday following his arrest in New York City for allegedly kidnapping and torturing a man in a bid to get access to his Bitcoin password. Prior to that, the 37-year-old Woeltz once held a very different reputation as a rising star in the crypto world.  Woeltz, also known as the “crypto king of Kentucky,” was apprehended on Friday after a man escaped from his luxury NoLIta apartment and flagged down a traffic agent who called police, according to the New York Times . The victim, a 28-year-old Italian citizen named Michael Valentino Teofrasto Carturan, was allegedly held in the 17-room townhouse for three weeks. Prosecutors allege that while in the house Woeltz and his alleged accomplice, William Duplessie, who was arrested on Tuesday, tortured Carturan by pistol-whipping him, shocking him with a taser gun, forcing him to smoke crack cocaine and cutting his leg with a saw, according to CBS News . Carturan told police that he was even suspended over a...

Welcome to Barrow-in-Furness: the forgotten town behind the U.K.’s nuclear defense seeking resurrection. At any given moment, a Vanguard-class submarine is somewhere in the world’s oceans, carrying up to 40 nuclear warheads, its commanders and some 130 crew prepared for an apocalyptic call from the U.K.’s prime minister to strike its target. Tucked at the bottom of a peninsula, looking out toward the Isle of Man, is where those submarines began their life: BAE Systems’ Devonshire Dock Hall. The site is a six-pronged shipyard stretching 850 feet across and 170 feet into the air, and it stands as a kind of watchkeeper over Barrow-in-Furness, a small town of about 67,000 people in the U.K. What’s inside: the construction of nuclear-warhead-packed submarines—the expensive protectors of an entire nation. 140 BAE Systems Fortune 500 Europe rank When the Devonshire Dock Hall was being constructed in the waning years of the Cold War, between 1982 and 1986, the U.K. government was spe...