Business

For the past two-and-a-half decades, the mandate for global business leaders was relatively straightforward: grow the existing business, allocate capital efficiently, and implement technology to drive productivity. But Mohamed Kande, global chairman of PwC, speaking to Fortune in Davos, Switzerland, ahead of the World Economic Forum’s annual meeting, insisted that era is over. Kande argued that the CEO job has…

U.S. stock futures dropped late Monday after global equities sold off as President Donald Trump launches a trade war against NATO allies over his Greenland ambitions. Futures tied to the Dow Jones industrial average sank 401 points, or 0.81%. S&P 500 futures were down 0.91%, and Nasdaq futures sank 1.13%.  Markets in the U.S. were closed in observance of the Martin Luther King Jr.…

Is Powell’s Fed head independence dead? It’s just one more diversionary Trump trick | Fortune Jeffrey Sonnenfeld is Lester Crown Professor of Leadership Practice at the Yale School of Management and founder of the Yale Chief Executive Leadership Institute. A leadership and governance scholar, he created the world’s first school for incumbent CEOs and he has advised five U.S. presidents across political…

Tanyapong Thamavaranukupt, co-president of Thai fintech Ascend Money, sees spending patterns—like magazine subscriptions or mobile bills—as a signal of creditworthiness, particularly in markets like Southeast Asia which have both a large underbanked population and underdeveloped financial institutions. “We don’t rely on traditional data to make our loan decisions,” he told Fortune. Instead, Ascend Money’s lending service, Ascend Nano, relies on…

President Donald Trump suggested the US may subsidize efforts by energy companies to rebuild Venezuela’s oil industry as his administration seeks to convince firms to invest in the country days after ousting strongman Nicolás Maduro. Trump said the project to have US oil industry companies expand their operations in the country could be “up and running” in less than 18…

President Donald Trump’s plans to restore Venezuela’s beleaguered oil industry faces a series of challenges that will cost U.S. oil companies many billions of dollars to overcome. Over the weekend, U.S. forces arrested Venezuelan President Nicolas Maduro on drug trafficking charges, with Trump claiming the U.S. would “run” the country and take over the country’s nationalized oil reserves. “American dominance…

With its new Pax Silica Declaration, Washington has picked its most trusted partners in the AI sector: An array of close U.S. allies, including Australia, the U.K., and Israel.  Yet despite deepening trade relations between the U.S. and ASEAN nations like Thailand, Malaysia and Vietnam, Singapore remains the agreement’s only Southeast Asian signatory. That decision comes even as ASEAN nations…

President Donald Trump teased that he has a preferred candidate to be the next chair of the Federal Reserve, but is in no hurry to make an announcement — while also musing that he might fire the central bank’s current leader, Jerome Powell. “I do, still do — hasn’t changed,” Trump said at a press conference Monday, when asked if…

Vince Zampella, one of the creators behind such best-selling video games as “Call of Duty,” has died. He was 55. Video game company Electronic Arts said Zampella died Sunday. The company did not disclose a cause of death. In 2010, Zampella founded Respawn Entertainment, a subsidiary of EA, and he also was the former chief executive of video game developer…

President Donald Trump has announced a bold plan for the Navy to build a new, large warship that he is calling a “battleship” as part of a larger vision to create a “Golden Fleet.” “They’ll be the fastest, the biggest, and by far 100 times more powerful than any battleship ever built,” Trump claimed during the announcement at his Mar-a-Lago…