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Luxury brands have a new headache in China: Stingy shoppers are returning their goods, erasing up to 75% of their sales value

This unusually high rate of returns — well above the 20% to 30% that consultancy Sanford C. Bernstein considers normal in the global luxury...

yesterday 30

Fortune

Bloomberg

The Stanley Cup marketing wizard’s next project is Heydude shoes

Terence Reilly comes home to Crocs.

yesterday 10

Fortune

Chris Morris

As gold prices hover near record high, Citigroup sees it smashing past $3,000

Gold futures on Wednesday stood at $2,407 per ounce in mid-morning trading. Costco's gold bars cost a bit less than that, if you can find them.

yesterday 8

Fortune

Chris Morris

Biden calls for tripling of tariffs on Chinese steel as he campaigns in Pennsylvania

In addition to boosting steel tariffs, Biden also will seek to triple levies on Chinese aluminum. The current rate is 7.5% for both.

yesterday 50

Fortune

Chris Megerian

Congress hauls in Boeing whistleblower who claims 787 skin is so loose it could break apart

Back-to-back hearings Wednesday will examine allegations of major safety failures at the embattled aircraft manufacturer.

yesterday 30

Fortune

David Koenig

Coal miners will get long wanted protection from dust that causes black lung

The final rule, announced by Acting Labor Secretary Julie Su, cuts by half the permissible exposure limit for crystalline silica for an eight-hour...

yesterday 20

Fortune

Matthew Daly

Gen Z favorite Dr. Martens is struggling as its CEO steps down—and it might be because their shoes last too long

Famously made to last, the durability that led to its popularity may be the very thing keeping it from astronomic growth.

yesterday 10

Fortune

Jasmine Li

Dutch semiconductor giant ASML blames 'transition year' for missed targets

While some of ASML’s biggest customers have been posting positive results, demand for the latest semiconductor equipment failed to meet...

yesterday 10

Fortune

Cagan Koc

How to use CLEAR for stadiums and arenas in 2024

CLEAR is a great program to get you through airports quickly and easily, but did you know that you can use it to get through entrances to stadiums...

yesterday 10

Fortune

Jon Nickel Dandrea

Adidas predicts profit boost mainly due to strong demand for the classic Samba – whilst continuing to shed Yeezy stock

CEO Bjorn Gulden has pledged to return Adidas to growth this year following the collapse that the company faced during the pandemic when demand...

yesterday 10

Fortune

Tim Loh

‘No one wants to see a picket line on Sesame Street’ but that’s exactly what’s happening as writers unanimously vote for strike

"Millions of parents and families around the world are going to have a lot of questions,” a union leader said.

yesterday 10

Fortune

Chloe Berger

Powell threatens to keep interest rates high ‘as long as needed’ as recent data show it’s ‘likely to take longer than expected’ for inflation to fall

“Recent data have clearly not given us greater confidence" that inflation is coming fully under control, the Federal Reserve chair said during a...

yesterday 9

Fortune

Christopher Rugaber

Dr. Martens shares plunge to record lows after CEO exits amid double-digit revenue warning

Trading in Dr. Martens stock was temporarily halted on the London Stock Exchange as it sank to a record-low 0.62 pounds. U.S. shares are down 55%...

yesterday 10

Fortune

Anne Dinnocenzio

Biden’s Education Dept. starts clock on regulation that would cancel student debt for over 25 million Americans

The paperwork for the regulation still has to go through a 30-day public comment period and another review before it can be finalized.

yesterday 10

Fortune

Collin Binkley

New Jersey internet gambling revenue smashes a new record but in-person Atlantic City casinos are still struggling below pre-COVID numbers

Sports betting, powered by the March Madness college basketball tournament, saw almost $1.33 billion worth of bets taken in March.

yesterday 10

Fortune

Wayne Parry

Dropbox's CEO says managers mandating returns to the office are just 'mashing the go-back-to-2019 button’ and creating toxic relationships with staff

The remote working cat is out of the bag and "that's what a lot of CEOs today misunderstand,” Dropbox’s cofounder and CEO Drew Houston said.

yesterday 9

Fortune

Orianna Rosa Royle

People aren’t thirsty for champagne and luxury bags—and that’s jeopardizing LVMH’s sales growth among high-end shoppers

Some segments at LVMH, like Wine and Spirits, grew slower than others. But context about the luxury spending figures—and what it's compared to—is...

yesterday 8

Fortune

Prarthana Prakash

Alfa Romeo renames 'Italian sounding' Milano after Italy threatens lawsuit

"A car called Milano cannot be produced in Poland. This is forbidden by Italian law," Italy’s industry minister Adolfo Urso said last week.

yesterday 8

Fortune

Ryan Hogg

Worldcoin, Sam Altman’s eye-scanning crypto project, announces its own blockchain 

The blockchain will be deeply entwined with the Worldcoin protocol and is aimed at accelerating adoption of World ID.

yesterday 7

Fortune

Niamh Rowe

California agriculture zone is so dry state will monitor how much groundwater it pumps for crops—and farmers say move will force many out of business

It's the first area in California to go through this process under the state's landmark groundwater law that aims to keep water flowing sustainably...

yesterday 8

Fortune

Amy Taxin

F1 remains the dominant motor racing franchise in the world, but concerns around sustainability, cost and convenience may prompt Formula E to steal the crown

FE’s head Jeff Dodds says its only a matter of time before the upstart catches up with its gas-guzzling sibling.

yesterday 8

Fortune

Reina Sasaki

Canada will soak the rich with capital gains tax jump to raise billions for housing in market where Gen Z can’t catch a break

Prime Minister Justin Trudeau’s administration has been sinking in opinion polls, which show that he’s losing younger voters who are frustrated...

yesterday 8

Fortune

Erik Hertzberg

Bank of America CEO says Wall Street is 'Fed watching' way too much

Brian Moynihan says he's looking at the data to decide how well the economy's doing, which doesn't fall under the Fed's influence.

yesterday 7

Fortune

Eleanor Pringle

Beware, Swifties. A major British bank just issued a warning after fans lost an estimated $1 million in Taylor Swift concert ticket scams

“Cruel fraudsters have wasted no time in targeting her most loyal fans as they rush to pick up tickets for her must-see concerts,” Lloyds Bank...

yesterday 7

Fortune

Prarthana Prakash

Ford recalls nearly half a million Bronco Sport and Maverick vehicles that have battery detection issues

Ford is recalling more than 456,000 vehicles due to a battery detection issue that can result in loss of drive power, increasing crash risks.

yesterday 7

Fortune

Wyatte Grantham-Philips

Disney’s mulitbillion-dollar theme park facelift gets unanimous approval from Anaheim council

It would be the biggest expansion of Disney’s Southern California theme parks in decades.

yesterday 7

Fortune

Amy Taxin

NPR editor suspended for 5 days without pay over essay criticizing employer

Uri Berliner, a senior editor on NPR's business desk, wrote: "Today, those who listen to NPR or read its coverage online find...the distilled...

yesterday 6

Fortune

The Associated Press

Apple CEO Tim Cook says ‘we’re investing’ in Indonesia fresh off his pledge to spend more on Vietnam suppliers, continuing his Southeast Asia charm offensive

After Vietnam, Cook then flew further south to Indonesia—and said Wednesday that he’s ready to “look at” the country’s manufacturing sector.

yesterday 6

Fortune

Nicholas Gordon

Japan racks up trade deficit for third straight year

The deficit was 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, according to Finance Ministry data released Wednesday.

yesterday 7

Fortune

Yuri Kageyama

Microsoft-backed Rubrik looking to raise $713 million in latest tech IPO

Rubrik is set to go public by the end of the month—and could be valued at more than $5.4 billion.

yesterday 6

Fortune

María Soledad Davila Calero

Judge throws out tribes’ legal challenge to $10 billion power line running through ‘one of the most intact, prehistoric and historical … landscapes in southern Arizona’

The transmission lines will forever transform “a place of beauty, prayer and solitude for generations of O'odham," says Tohono O'odham Attorney...

yesterday 7

Fortune

Susan Montoya Bryan

Boeing’s mid-air blowout no surprise considering company’s safety culture, says FAA panelist and aerospace engineer whose brother died in 737 Max crash

“I would have thought that they would have ‘gotten it’ five years ago,” said Javier de Luis, the brother of Graziella de Luis, who was killed...

yesterday 6

Fortune

Allyson Versprille

Tesla asks shareholders to restore Musk’s pay package: ‘Because the Delaware Court second-guessed your decision, Elon has not been paid for any of his work for Tesla for the past six years’

The package was ruled null and void in January after a Delware court felt investors were not informed that Musk had been allowed to decide the...

yesterday 5

Fortune

Christiaan Hetzner

Why the CEO of a $12 billion pet services company still responds to customer emails himself

Chewy CEO Sumit Singh maintains a tight focus on customer service.

yesterday 5

Fortune

Fortune Editors

Voting tech company Smartmatic, targeted by bogus 2020 election fraud claims, settles defamation suit against One America News Network

Last year, on the eve of a trial, Fox News agreed to pay $787 million to settle a defamation lawsuit filed by a much larger voting technology...

yesterday 10

Fortune

The Associated Press

While streaming giants slash budgets and users flock from X, the U.K.’s biggest publishers are using AI (with a little help from Prince Harry) to get us hooked back on books

By psychologically matching publishers’ backlists to potential readers, AI is giving valuable new life to old titles.

yesterday 10

Fortune

Molly Flatt

JCPenney expects to return half a billion dollars to customers this year

New rewards program will target Kohl’s.

yesterday 20

Fortune

Chris Morris

The U.S. and China are leading the world in AI innovation–but the U.K. can punch above its weight. Here’s how

By investing in computing power, opening up data assets, and creating a market for AI services, the U.K. can establish itself as a true AI superpower.

yesterday 3

Fortune

Victor Riparbelli

Amazon's health boss believes it's not 'acceptable' for customers to get a 'surprise bill' when they come to pay for medication

Amazon has doubled down on its expansion into the healthcare space following its purchase of primary-care company One Medical in 2022 for $3.9...

yesterday 0

Fortune

Eleanor Pringle

Want a four-day workweek? Head to Singapore.

Singapore’s government joins other forward-thinking countries like the UK in mandating companies take flexible-work requests seriously.

yesterday 0

Fortune

Jane Thier

The economy might be booming, but housing has fallen into a recession: a top real estate CEO says he’s never seen anything like it

Redfin’s Glenn Kelman discusses his business, salary, and all things housing with Fortune.

yesterday 0

Fortune

Alena Botros

Home prices soared 40% during the pandemic—but Zillow sees them rising less than 2% this year

It’s “slower than long-term norms but a welcome slowdown for first-time buyers compared to the rapid appreciation seen over the pandemic,”...

yesterday 0

Fortune

Alena Botros

KKR entrusting green transition to ex-CEO of oil-guzzling giant Shell

Ben van Beurden set Shell's first climate targets, but was also named "Fossil Fuel Villain of the Year" by New Republic.

yesterday 0

Fortune

Ryan Hogg

High mortgage rates are finally hitting new home construction as builders are pulling back on projects

“It makes little economic sense to ramp up construction on homes that won't be sold in the near future,” one engineer said.

yesterday 0

Fortune

Sydney Lake

United Airlines says it would have been profitable last quarter if not for Boeing's $200 million screw-up

The FAA's grounding of the Boeing MAX 9 after a door blew off a plane cost United $200 million.

yesterday 0

Fortune

Irina Ivanova

Salman Rushdie reveals what he learned from the attack that blinded and nearly killed him: 'There is value in hearing from voices that offend us'

Salman Rushdie was hunted by Iran for decades over his controversial novel. He just published another

yesterday 0

Fortune

Sunny Nagpaul

7 proven ways to reduce — or even eliminate — your debt

End the cycle of high-interest debt with these proven strategies.

yesterday 0

Fortune

Kat Tretina

Trump's social media stock rose 16%, still down 67% from its $80 peak

Even with the bounce, the stock has shed some $5.4 billion from last month, with the value of Trump’s position dropping to $2.1 billion.

yesterday 0

Fortune

Bailey Lipschultz

Disney advances plan to inject $1.9 billion into 'the happiest place on Earth'

It would be the biggest expansion of Disney’s Southern California theme parks in decades.

yesterday 0

Fortune

Amy Taxin

Casino operator calls smoking ban 'one of the greatest threats to our business'

A potential smoking ban in Atlantic City has roiled some casino operators.

yesterday 0

Fortune

Wayne Parry

The Justice Department wants to cut down on corporate misbehavior by offering wrongdoers leniency

The program excludes CEOs and chief financial officers.

yesterday 0

Fortune

Marco Quiroz-Gutierrez

These states and cities have the best—and worst—brain health in America. See where your home ranks in mood, memory, and more

Healthy eating was the activity most positively associated with survey respondents’ brain health, followed by leisure activities and time with...

yesterday 0

Fortune

Lindsey Leake

California eyes crackdown on identity-shielding LLCs

A bill that would require business owners to disclose their identities to the public advanced on Wednesday.

yesterday 0

Fortune

Tran Nguyen

Boeing whistleblower says he was told ‘frankly to shut up’

Boeing was basically “putting out defective airplanes,” quality engineer Sam Salehpour told a Senate subcommittee.

yesterday 0

Fortune

Sasha Rogelberg

What is a health coach? 5 skills you need to break into the field

To become a health coach, you’ll need to get certified by the NBHWC, and you’ll want to be a great listener and motivational interviewer.

yesterday 0

Fortune

Alyse Maguire

Jerome Powell pumped the brakes on rate cuts, but Goldman still eyes a soft landing because of the strong job market

The soft landing is still on because spikes in inflation were a blip and the job market isn’t seeing many layoffs, Goldman’s chief economist says.

yesterday 0

Fortune

Paolo Confino

Biden says US Steel 'should remain totally American' and vows to triple China tariffs

China produces about half of the world’s steel and sells it for less than half what U.S.-produced steel costs, administration officials said.

yesterday 0

Fortune

Chris Megerian

Caitlin Clark is the hottest new WNBA player in a decade—but she’s making less per year than the average New York worker

The WNBA’s No. 1 draft pick makes $76,535 in her first year, over 137 times less than the NBA’s first pick’s salary of $10.5 million.

previous day 8

Fortune

Sasha Rogelberg

Like to lend a helping hand? Life coaching may be the path for you

Life coaches are becoming increasingly popular, and getting certified and starting a practice likely isn’t as difficult as you think.

previous day 20

Fortune

Sam Becker

Trump’s social media stock has now fallen from $80 peak to $26.61 per share as it loses two-thirds of value

Trump, his son Donald Jr., a director on the board, and CEO Devin Nunes all remain under “lock-up” agreements that largely restrict share sales...

previous day 10

Fortune

The Associated Press

Find the best 1-month CD: our pick of the top rates for short-term investors

A 1-month CD can be a smart financial move when you're looking for quick, safe returns without tying up your money for months on end. Here are the...

previous day 9

Fortune

Katherine Haan

Dow CEO: My company is a major plastic producer. We must end plastic pollution

This month, an intergovernmental meeting convenes in Ottawa in hopes of advancing a legally binding global agreement to end plastic pollution.

previous day 10

Fortune

Jim Fitterling

Best hotel credit cards for free nights in April 2024

As room rates surge, the feeling of cashing in a free night becomes so much sweeter. Check out our picks for the best hotel credit cards for free...

previous day 5

Fortune

Chris Butsch

Why a ‘collapse’ of younger VC firms may not be a bad thing, according to a top angel investor who backed Uber and Robinhood

Careless investors were seeding companies and shouldn’t have been, said Jason Calacanis, who’s happy to see “venture tourism” evaporate.

previous day 9

Fortune

María Soledad Davila Calero

Microsoft takes $1.5 billion stake in Emirati AI company G42

The deal “was developed in close consultation with both the UAE and U.S. governments,” Microsoft said.

previous day 7

Fortune

The Associated Press

Remote workers have found a haven in Spain’s capital—here are the top 10 places for digital nomads to tote their laptops

Spain has figured remote work out, but it hasn’t come without a cost. Countries are starting to pump the breaks on digital-nomad visas.

previous day 4

Fortune

Chloe Berger

Jamie Dimon’s JPMorgan and other North American banks are so far ahead in the AI race that one indexing boss says it’s now a question of ‘Can others catch up?’

"There is a bit of a gap that is growing between the leaders in the index and those further behind because there is such an advantage in being the...

previous day 6

Fortune

Eleanor Pringle

AI hallucinations will be solvable within a year, ex-Google AI researcher says—but that may not be a good thing

AI experts told Fortune that the AI hallucinations phenomenon is “obviously solvable” and they’ve estimated it’ll fixed soon.

previous day 3

Fortune

Orianna Rosa Royle

'Headlines are scary right now,’ but the new bull market could last another 9 years, according to this veteran investor

Productivity gains from AI in the long term will outweigh near-term geopolitical volatility, according to James Demmert of Main Street Research.

previous day 2

Fortune

Will Daniel

There’s a hidden penalty to going fully remote: A 'task tax' that stymies company growth, report finds

Remote workforces spend more time on menial tasks and require more training than their in-person counterparts, a new study finds.

previous day 1

Fortune

Jane Thier

The U.S. economy is looking red hot this year while China is showing signs of fatigue, top economists say

How the Fed handles inflation could play a role in future growth projections.

previous day 1

Fortune

Marco Quiroz-Gutierrez

Cofounders of SoulCycle launch a platform to improve your work relationships: ‘We don't know our colleagues anymore’

Julie Rice on getting into the business of relational health.

previous day 1

Fortune

Alexa Mikhail

Another top Fed officials warns of higher-for-longer interest rates: 'Sustainably restoring 2% inflation is not yet done'

Fed vice chair Philip Jefferson joins a chorus of officials suggesting rate cuts are a long way away.

previous day 4

Fortune

Christopher Rugaber

Fashion giant Shein has been slapped with yet another lawsuit alleging copyright infringement, data scraping, and AI to steal art: 'It’s somewhat shocking that they’ve been able to get away with it'

Internet law and intellectual property lawyer Brett Lewis said Shein’s electronic monitoring system likely impacts thousands of independent...

previous day 1

Fortune

Sasha Rogelberg

Bitcoin struggles to regain momentum after weekend wipeout erased more than 10%

Since Bitcoin’s sudden tumble on Saturday, the original cryptocurrency has been hovering near $62,000.

previous day 3

Fortune

Niamh Rowe

85% of people believe lifelong upskilling will be the new norm, but barriers still remain to make it a reality, according to new ETS/Harris Poll research

In a Fortune exclusive, the new data shows that while AI has helped express a need for lifelong learning, barriers remain.

previous day 1

Fortune

Preston Fore

Cheap electric cars are finally here—but price cuts won’t translate to more sales until infrastructure catches up

Would-be buyers of sub-$10,000 used EVs are limited by access to public chargers.

previous day 1

Fortune

Dylan Sloan

The beginner’s guide to frequent flyer programs: How to earn, redeem and maximize airline miles

Learning how airline miles work, as well as the benefits offered by airline credit cards, can help make your next dream vacation a reality.

previous day 4

Fortune

Joseph Hostetler

What is bond insurance, and how can it protect your business?

Here’s what to know about bond insurance, who needs it, and why it’s valuable.

previous day 1

Fortune

Jessica Ullrich

Residents rush to save artifacts as blaze engulfs Copenhagen's historic stock exchange building in devastating fire

A devastating fire has destroyed Denmark's historic stock exchange, including its iconic dragon-tail spire, sparking evacuations and cultural loss.

previous day 1

Fortune

Christian Wienberg

How to become a real estate agent

For aspiring real estate agents, you’ll need to attend class, pass an exam, activate your license, and join a brokerage.

previous day 3

Fortune

Rich Griset

The U.S. is reportedly preparing to sue Ticketmaster over the monopolistic behavior that outraged Swifties last year

Ticketmaster currently controls more than 80% of the market share for major concerts–and customers pay dearly, in more ways than one.

previous day 10

Fortune

Sunny Nagpaul

A liberal activist who tried to pull the Bible from Florida schools just forced Ron DeSantis to scale back the state's book ban law

"When they need to make stupid stupider, they send me up," Chaz Stevens said.

previous day 10

Fortune

Brendan Farrington

Tim Cook says Apple wants to invest more in Vietnam, as it distances itself from China

Over the last 5 years Apple has put $16 billion into bolstering manufacturing in Vietnam.

previous day 7

Fortune

Paolo Confino

The cost of buying a used electric car is plummeting—and that’s great news for mass adoption, but bad news if you already bought one

EV prices are cheaper than ever, opening the market up for budget buyers but costing EV owners thousands in lost resale value.

previous day 6

Fortune

Dylan Sloan

Canada proposes higher tax on 0.1%—For anyone under 40, it's 'just harder to establish yourself,' finance minister says

The wealth tax will raise nearly $20 billion Canadian (U.S. $14.5 billion) in revenue over five years.

previous day 2

Fortune

The Associated Press

Police have made arrests in Toronto heist of 24 gold bars and $2 million in cash

The thief allegedly presented a fraudulent waybill to gain access to an Air Canada cargo hold, according to a lawsuit.

previous day 2

Fortune

The Associated Press

Treasury secretary Yellen calls Iran's actions 'malign and destabilizing'

Rising tensions between Iran and Israel and what escalation could spell for the global economy are on the International Monetary Fund's agenda.

previous day 2

Fortune

Fatima Hussein

Frustrating flight cancellations, daylong waits prompt DOT to strike deal on airline consumer complaints

These issues are "a violation of passenger rights, and we are seeing far too many cases of that,” said DOT secretary Pete Buttigieg.

previous day 2

Fortune

David Koenig

Biden jabs Trump on media platform stock losses—'He might do better under my tax plan than his'

Biden has proposed a 25% percent minimum tax rate for billionaires.

previous day 2

Fortune

Chris Megerian

United took a $200 million hit from Boeing 737 MAX 9 grounding, driving it to a quarterly loss

The airline is evolving its fleet strategy due to shifting delivery timelines from Boeing.

previous day 2

Fortune

Amanda Gerut

State Street, with $3.6 trillion in assets, is counting on the Fed to slash interest rates—'The overall inflation picture supports a cut,' CIO says

State Street chief investment officer Lori Heinel believes a rate cut in June is "likely."

previous day 2

Fortune

Alice Atkins

Junior analysts, beware: Your coveted and cushy entry-level Wall Street jobs may soon be eliminated by AI

A major transition is coming for the highly coveted junior analyst position at big Wall Street banks, experts agree.

previous day 1

Fortune

Sydney Lake

Joe Biden and Kamala Harris share how much they owed the IRS this year

President and First Lady earned almost $620,000 in 2023

previous day 20

Fortune

Chris Morris

Fortune/PINC AI 100 Top Hospitals 2024: Teaching Hospitals

Fortune partnered with PINC AI on the 2024 ranking of the 100 Top Hospitals in the U.S.

previous day 20

Fortune

Fortune Editors

I’m a 24-year-old small business owner. Here’s why I’m suing the SEC

Businesses like mine deserve clarity and transparency—and the courts need to help us obtain it.

previous day 20

Fortune

Nathan Hennigh

Beloved British retailer Superdry plans to quit the London Stock Exchange after mounting losses to overhaul the company and save it from going bust

Superdry's woes have kept mounting—big losses, a slew of CFO departures and a rapid decline in share price, which is down 82% year to date.

previous day 10

Fortune

Prarthana Prakash

Baltimore salvage crews using floating crane CIA used to retrieve part of a sunken Soviet submarine to remove chunks of fallen Francis Scott Key Bridge

The heaviest section so far weighed about 450 tons (408 metric tons).

previous day 20

Fortune

Lea Skene

French president Macron is urging his people and Western allies to boost military: 'This has been a real revolution in recent years, and it’s a revolution that has been pushed forward by France'

The fundamental problem for Macron is that so far he hasn’t managed to energize either France’s voters or its economic and military might behind...

previous day 10

Fortune

Ania Nussbaum

Singaporean ship that collapsed Baltimore bridge had electrical problems at port, source says

While the ship was docked in Baltimore, alarms went off on some of its refrigerated containers, indicating an inconsistent power supply, says a...

previous day 20

Fortune

Eric Tucker

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