Business

Good morning. While sitting in the Rivian R2 electric SUV at the Aspen Ideas Festival this weekend, CEO RJ Scaringe opened a glove box and pointed to the felt lining. “That cost $11,” he said. Is that expensive or cheap? Perhaps sensing my neutrality, Scaringe pulled out his phone to show me a review by an auto writer who wants…

The heat is on this week. As Europe sizzles amid another record-breaking heatwave, many American states are preparing for a similar event. A double whammy of heat and humidity is set to drive temperatures over 100°F. But while both sides of the Atlantic face the heat, the reality for families and businesses could not be further apart. The difference, once…

Simon Boyd’s firm makes prefabricated steel structures on the south coast of England and ships them to customers as far away as Ghana and Barbados. Mike Hawes represents Britain’s carmakers as the head of the Society of Motor Manufacturers and Traders. The business leaders were on different sides of the debate when Britain voted to leave the European Union in…

A decade ago today, June 23rd, 2016, 52% of the British electorate voted to leave the European Union. It was a massively consequential moment for the U.K.’s economy and political scene, and kicked off one of the most tumultuous decades in the country’s recent history. On Monday, Keir Starmer announced he would resign as prime minister after two years in…

The end of the conflict with Iran will be accompanied by a sigh of relief from anyone planning air travel. For months, jet passengers have worried that flights might be cancelled due to a lack of jet fuel, given that 20% of the world’s supply transits through the Strait of Hormuz. At one point, the International Energy Agency said Europe…

AI can drudge up untrustworthy sources or just feel kind of “off,” but the technology has also been pretty consequential for some business owners. In fact, celebrity real estate agent Ryan Serhant said at Fortune’s Brainstorm Tech conference last week that ChatGPT nearly blew a $50 million deal for his firm. When asked by Fortune’s Term Sheet Editor Allie Garfinkle…

ChatGPT maker OpenAI filed preliminary paperwork that would open the door to it becoming a publicly traded company, the third in a powerhouse trio of artificial intelligence companies racing to Wall Street debuts. The San Francisco-based company said Monday it has filed confidential paperwork with the U.S. Securities and Exchange Commission. “We expect it to leak so we’re just announcing it,” the company said…

It’s no secret that Gen Z often gets slammed for, in the words of Sister Act star Whoopi Goldberg, not “busting their behinds” at work quite like previous generations did. Despite struggling to land entry-level roles, bosses have accused them of showing up late to the interview, refusing to put in any overtime for screening tests, and ghosting recruiters. Now,…

To get into the S&P 500, a company is supposed to make some money. The sum of its four quarters of earnings has to be positive—at least GAAP wise—and so does its most recent quarter. That’s a pretty basic rule, decades old and it’s the reason Tesla sat outside of the index until the end of 2020, years after it…

Luke Nichols, better known as the Outdoor Boys YouTuber who captured the hearts of millions of viewers for his outdoor survival videos from the middle-of-nowhere Alaska, knows what it feels like to graduate in a wrecked economy. After all, he graduated from law school during the 2008 market crash.  Standing before George Mason University’s law school graduates in May, the…