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Paolo Confino

Paolo Confino

Fortune

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Jamie Dimon says to get a job at JPMorgan, what you study in college ‘almost doesn’t matter’

The bank CEO says the company looks for candidates who are “smart, ethical, decent people.”

27.04.2024 20

Fortune

Paolo Confino

With inflation still high and economic growth slowing sharply we could be heading toward stagflation, a scenario 'nobody is really prepared for,' UBS exec says

After preparing for a recession, and hoping for a soft landing, the U.S. might end up in an unexpected bout of stagflation.

26.04.2024 7

Fortune

Paolo Confino

British PM wants to reform the country’s disability benefits by ending ‘sick note culture’ that 'overmedicalizes everyday challenges’

In a speech proposing reforms to Britain’s welfare system prime minister Rishi Sunak said people with “less severe” mental health conditions...

26.04.2024 6

Fortune

Paolo Confino

On crucial earnings call, Musk reminds the world Tesla is a tech company. ‘Even if I’m kidnapped by aliens tomorrow, Tesla will solve autonomy’

After a dismal quarter for Tesla, CEO Elon Musk tried to reassure investors the company’s real value was its effort to perfect self-driving cars.

24.04.2024 30

Fortune

Paolo Confino

BlackRock doubled security spending for CEO Larry Fink amid growing backlash to ESG investing

The world’s largest asset manager paid $780,00 last year for security guards and an upgraded security system at Fink’s home, filings show.

23.04.2024 7

Fortune

Paolo Confino

Caitlin Clark to sign $28 million deal with Nike to get her own sneaker

Caitlin Clark is set to cash in on her popularity with a historic Nike endorsement deal that would make her one of only three WNBA players with their...

23.04.2024 10

Fortune

Paolo Confino

Tesla will try to stem the bleeding on its earnings call after its worst sales quarter in four years, a round of price cuts, and a sinking share price

Tesla, once a pioneer of electric vehicles, has even its most ardent supporters clamoring for CEO Elon Musk to “handhold investors.”

22.04.2024 3

Fortune

Paolo Confino

The retirement gender gap is so large, women have less savings in the best markets than men in the worst

After a bear market, men's retirement assets would have a median value of $199,400, while women would have $184,600 after a bull market.

19.04.2024 7

Fortune

Paolo Confino

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.

18.04.2024 10

Fortune

Paolo Confino

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.

17.04.2024 10

Fortune

Paolo Confino

As companies take their AI pilots enterprise wide, here are the challenges to scaling up. ‘If it's not being used, it's your problem, not the user's.’

After about a year of learning and experimenting with AI, executives are now ready to start using it across the whole company.

15.04.2024 10

Fortune

Paolo Confino

David Ellison, son of the world’s 9th-richest man, is poised to become a Hollywood power player as he closes in on buying Paramount

After shedding his rich kid reputation and starting his own movie studio David Ellison, son of Larry Ellison, is on the verge of buying Paramount...

11.04.2024 5

Fortune

Paolo Confino

The topsy turvy economy just found a new set of boosters—CEOs. 87% are confident in the U.S.’s growth prospects, KPMG survey

After years of volatility, the economic picture is starting to seem clearer, assuaging the fears of America’s executive class.

11.04.2024 20

Fortune

Paolo Confino

Growing chorus of Fed officials and Wall Street analysts saying this will be a year with few rate cuts—or possibly none at all

Another disappointing inflation report makes rate cuts look even further off in the distance.

10.04.2024 10

Fortune

Paolo Confino

Long-time AI critic Gary Marcus calls AI a 'Shakespearean tragedy' as widespread scraping of copyrighted data comes to light in bombshell report

Six years ago, Marcus warned that AI would need so much data it would bend the law to get it. A bombshell New York Times report says that's exactly...

10.04.2024 9

Fortune

Paolo Confino

The few times I’ve done investing, I’ve lost my shirt’: Reed Hastings opens up on his investing track record

The Netflix cofounder says his investments are ‘pure’ index funds—and about $1.9 billion of Netflix stock.

05.04.2024 10

Fortune

Paolo Confino

OpenAI could be in a ‘clear violation’ of YouTube’s terms of service, CEO says—depending on how it trains its new Sora video tool

Just a few weeks after OpenAI CTO Mira Murati ducked questions about the matter, YouTube CEO Neal Mohan was asked about scraping data.

05.04.2024 5

Fortune

Paolo Confino

Tesla bear says its poised to 'go bust' because it's too vertically integrated, which is a 'brilliant model when you grow' but not when you have your worst quarter in years

Tesla spent huge sums to capture the demand for EVs, but its first down quarter in four years makes that decision look questionable.

04.04.2024 9

Fortune

Paolo Confino

Disney shareholders just handed Nelson Peltz a stinging defeat, voting by a 'substantial margin' for Bob Iger's board slate

After spending millions in a months-long campaign to get himself two board seats, Nelson Peltz lost the shareholder vote on Wednesday.

04.04.2024 9

Fortune

Paolo Confino

Disney CEO Bob Iger grapples with succession planning. Here are the 4 execs who could replace him

As Disney’s proxy fight with Nelson Peltz nears its end, the board continues to search in earnest for a CEO to replace the inimitable Bob...

03.04.2024 7

Fortune

Paolo Confino

'Sports now is no longer a hobby for rich guys': The former Goldman rainmaker-turned-club owner takes a page from his friend Billy Beane’s analytics playbook

Gerry Cardinale, the 20-year Goldman veteran who founded RedBird Capital, brings a career in sports dealmaking and a friendship with moneyball...

02.04.2024 10

Fortune

Paolo Confino

Thank 'gangbusters' corporate profits for keeping you employed and staving off the recession, top economist says

With healthy bottom lines, companies don't have to lay people off, which meant they could keep spending to keep the economy afloat.

01.04.2024 5

Fortune

Paolo Confino

Atlanta Fed president Raphael Bostic says he only expects one rate cut this year

Bostic goes against Wall Street and the Fed’s consensus view, which predicts three rate cuts in 2024.

25.03.2024 6

Fortune

Paolo Confino

JPMorgan's head of research says immigration is undeniably a ‘good thing’ for the economy, as the bank forecasts even higher US GDP growth this year

Immigration has helped fill job openings during a time of low unemployment and kept consumer spending high, according to JPMorgan’s Joyce Chang.

22.03.2024 9

Fortune

Paolo Confino

Trump stands to make $3.5 billion from his 60% share of Truth Social now that it has become a meme stock

The social media platform is poised to go public via SPAC at a $6 billion valuation as former President Donald Trump’s supporters pump money into...

21.03.2024 6

Fortune

Paolo Confino

Glassdoor pulls a 180 on users, requiring them to provide their real names to use their accounts. What if their employers find out they trashed them on the site?

Users still have the option to remain anonymous but the change sparks fears employers could figure out who criticized them online.

21.03.2024 7

Fortune

Paolo Confino

Amazon sharply upped 'performance improvement plans' for workers. Then came tens of thousands of layoffs

In 2022 and 2023, thousands more employees than in previous months were put on PIPs, new documents show.

20.03.2024 10

Fortune

Paolo Confino

The Goldman economist who predicted the financial crash and soft landing says AI will be good for the U.S. economy but will ‘destroy employment in some areas’

But AI’s boost to productivity will ripple across the country and lift GDP growth, Godlman’s chief economist predicts.

19.03.2024 10

Fortune

Paolo Confino

Dell says remote workers must go hybrid if they want any hope of a promotion

The cost of staying remote is “career advancement,” Dell reportedly wrote in a memo.

18.03.2024 10

Fortune

Paolo Confino

One thing Donald Trump and Joe Biden have in common is nominating Jerome Powell to the Fed—but their treatment of him is vastly different

Former President Donald Trump spent years lambasting Fed chair Jerome Powell for not enacting a monetary policy that wasn’t his to set.

16.03.2024 8

Fortune

Paolo Confino

Billionaire Frank McCourt got divorced and sold the LA Dodgers. The 'character assassination' he experienced online changed his life and sent him on a Big Tech crusade

Frank McCourt is on a mission to rip control of the internet from Big Tech and give it back to the people.

16.03.2024 10

Fortune

Paolo Confino

Tesla bull Cathie Wood buys $35 million in stock, but it needs a ‘real CEO’ if Elon Musk won’t work full-time at Tesla, claims irate investor Ross Gerber

Tesla investors Cathie Wood and Ross Gerber take dueling views on Elon Musk’s conduct at Tesla and his other companies.

15.03.2024 9

Fortune

Paolo Confino

Billionaire mega-donors Ken Griffin and the Koch Network tried and failed to make Nikki Haley a presidential contender

Nikki Haley became the first woman to win a Republican presidential primary—twice—and received millions in funding, but her impressive war chest...

06.03.2024 6

Fortune

Paolo Confino

Top economist who called the 2008 housing crash pours cold water on soft landing, pointing to rate hikes and a softening labor market

"We Americans tend to be perennial optimists," Gary Shilling said during an interview on The Retirement Lifestyle Advocates.

05.03.2024 7

Fortune

Paolo Confino

Elon Musk, Marc Andreessen and other tech billionaires bicker over open vs. closed AI: 'Would you open source the Manhattan Project?'

An online spat between OpenAI investor Vinod Khosla and Marc Andreessen became a debate on the future of AI: Should it be open source, or not?

04.03.2024 3

Fortune

Paolo Confino

The tech industry is trimming company fat and laying off thousands as it turns to the ‘corporate Ozempic’ that is AI, says professor Scott Galloway

Just like Ozempic users, tech companies are being coy about why they lost that all that weight or, in this case, headcount.

29.02.2024 7

Fortune

Paolo Confino

Top economist explains why she’s sticking with her recession call—and it’s all about gridlock in Congress on two major bills

“If the tax cuts don’t pass, and we don’t get the defense bill, then yes, we’ll stick with the recession call,” Piper Sandler's Nancy Lazar...

28.02.2024 5

Fortune

Paolo Confino

Why Elon Musk and Kara Swisher aren't speaking anymore

In her new memoir "Burn Book: A Tech Love Story," Swisher explains why she’s fed up with Elon Musk, a man she once greatly admired.

28.02.2024 10

Fortune

Paolo Confino

In a new memoir, veteran tech journalist Kara Swisher takes the industry she ‘loves’ to task. ‘I don’t like what you’ve done with the place’

The famed tech journalist published a memoir, 'Burn Book: A Tech Love Story,' about her career covering the world’s most famous tech executives.

27.02.2024 4

Fortune

Paolo Confino

Americans are getting fed up with social media companies, they just don’t want the government to do anything about it

Despite blaming social-media companies for harming young people, the U.S. can’t shake the “American psyche” that makes them wary of government...

24.02.2024 9

Fortune

Paolo Confino

Fortune asked Alexis Ohanian about being cut out of Reddit's IPO filing by his onetime best friend and cofounder. His response? Fortune asked Alexis Ohanian about being cut out of Reddit's IPO filing by his onetime best friend and cofounder. His response? ¯\_(ツ)_/¯

Alexis Ohanian and Steve Huffman cofounded Reddit in their college dorm before a disagreement ended their friendship.

24.02.2024 10

Fortune

Paolo Confino

Jensen Huang, Elon Musk and OpenAI: The story behind the hand delivery of the first AI supercomputer 'to unlock the powers of superhuman capabilities'

Before Elon Musk left OpenAI over differences with Sam Altman he arranged for Nvidia CEO Jensen Huang to gift the upstart nonprofit the first AI...

22.02.2024 10

Fortune

Paolo Confino

$1.7 trillion chip giant Nvidia just gained over $100 billion in value after a blowout quarter, but this mega-bearish analyst says the tech industry is in an AI bubble

The market is overvaluing tech stocks because it thinks the network effect will apply to AI. It won’t.

22.02.2024 10

Fortune

Paolo Confino

Israel's economy sinks 20% as the war decimates consumer spending and real-estate investments

Israel’s economy shrank as thousands diverted from the workforce to military reserves, as foreign workers leave the country.

20.02.2024 4

Fortune

Paolo Confino

MrBeast, the world's biggest YouTube star, brings in $700 million a year, but he relies on a trusted compliance officer to control the purse strings: his mom

MrBeast isn’t living large with his money, instead investing it into making new content.

16.02.2024 2

Fortune

Paolo Confino

Ryan Reynolds-backed firm MNTN did a Super Bowl spot with director David Lynch to disrupt the streaming ads business

MNTN, a programmatic advertising platform for streamers, tested a TV ad for a small business in Missoula, Montana, starring local boy turned Hollywood...

15.02.2024 7

Fortune

Paolo Confino

CEO of a $19 billion UK bank with business in Hong Kong since the Victorian age sees a 'lack of confidence' unraveling China's economy

Standard Chartered has had a branch in Hong Kong since 1859 and 90% of its profits come from outside the UK.

13.02.2024 5

Fortune

Paolo Confino

Shrinkflation is so rampant Biden had to step in with a PSA before the Super Bowl telling companies to cut it out. 'The American public is tired of being played for suckers'

President Joe Biden blamed companies for many of the high prices Americans still see at the grocery store.

12.02.2024 8

Fortune

Paolo Confino

4 economic outcomes that could cost Biden the election, top economist says

“When people think about the economy," Moody's Mark Zandi tells Fortune, "they're thinking, ‘How well am I doing today compared to some point in...

10.02.2024 10

Fortune

Paolo Confino

The CEO of Europe’s largest airline is about to trigger a $108 million bonus that British shareholders can’t vote on because of Brexit

Ryanair’s stock is just a dollar away from triggering the massive bonus for CEO Michael O'Leary.

09.02.2024 10

Fortune

Paolo Confino

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