Business

There’s no avoiding the hype surrounding AI these days. Promises of new developments like personal robot assistants and miracle cancer cures are ubiquitous as executives take every opportunity to emphasize their AI chops to enthusiastic investors—and slightly less enthusiastic consumers. Not everyone has been blown away by the AI fanfare, however. James Ferguson, founding partner of the UK-based macroeconomic research…

The reigning NBA champion Boston Celtics are going on the market. The team’s ownership group, Boston Basketball Partners LLC, has decided to sell the franchise for estate and family planning considerations, according to a Celtics statement. The owners expect to sell a majority interest this year or early 2025, with the remainder closing in 2028.  The Celtics are going on…

Meme-stock king Keith Gill—also known as ‘Roaring Kitty’—seems to be losing his golden touch. Shares of the viral stock picker’s newest target, the online pet retailer Chewy, fell more than 6.5% on Monday even after Securities and Exchange filings revealed his $245 million stake over the weekend. Chewy stock soared last Thursday after Gill simply posted a photo of a…

Once the mall epicenter of cheap jeggings and sequined halter tops, fast-fashion brand Forever 21 is reeling from financial problems, which have only been exacerbated by the rise of e-commerce behemoths like Shein. Forever 21 is asking some of its landlords for a break on rent—up to 50% on some of its 380 U.S. locations, people familiar with the situation…

Cybercrimes, threats, and data breaches are increasing in frequency and cost, posing a serious threat to businesses and everyday users. In fact, Cybersecurity Ventures says that the global annual cost of cybercrime is predicted to reach $10.5 trillion by 2025—while the average price tag of a single data breach will rise to $4.45 million, up 15% from 2023, as reported…

The push for full transparency of hotel fees—which can add hundreds of extra dollars to your final receipt—has taken the form of a House bill that passed the GOP-controlled chamber with overwhelming bipartisan support.  The No Hidden FEES Act would create a single standard to transparently display fees across the entire long- and short-term lodging industry. It will require all…

Derek Guy—better known as Twitter’s “menswear guy”—would rather men wear “chicken suits” to work than the current business casual trend: blue dress shirt, slim low-rise chinos, a patagonia vest, and a pair of dress sneakers.  “Its a really ugly aesthetic,” Guy told Fortune. The ensemble—which some have called the “Finance Bro outfit”—is vanilla, shows little personality, and is not flattering…

Beauty mogul Charlotte Tilbury is an unlikely evangelist for Formula 1. And yet, the former makeup artist to the stars is a longtime fan who used to watch the circuit with her dad and drive go-karts as a kid.  Now, she’s one of the sponsors pushing forward Formula 1’s new image of a brand that is youthful, sophisticated, and perhaps…

China has a “near monopoly” on the mining of many raw materials that are critical for the production of semiconductors and other technologies, JPMorgan said Monday, highlighting the importance of key minerals in the escalating U.S.-China trade war. President Biden upped the ante in the ongoing spat with China last month when he targeted Chinese products including solar cells, EVs,…

Suffering from rising sea levels, some North Carolina homes are literally underwater. Still, the overall waterfront property market is anything but, with price gains far exceeding inland rates even as climate risks threaten to wipe out coastal homes. Last week, a $650,000 beachfront home in North Carolina’s Outer Banks collapsed—the sixth such incident in the region in the past four…