The latest spike in fuel prices is harder to stomach than the one earlier this year as businesses and consumers have less capacity to absorb the shock, while fresh price data show inflation is spilling over beyond energy. While crude oil prices have somewhat moderated despite the Iran war re-escalating recently, refining constraints have kept
In an exclusive interview with Fortune’s Jeremy Kahn and Bea Nolan, Nvidia CEO Jensen Huang shrugged off existential-risk warnings from many leaders in the AI space, including Anthropic’s Dario Amodei, saying the technology was “completely in our control.” “I don’t know why anybody would want to support the advancement of a technology that’s going to
UNITED NATIONS — Yemen’s internationally recognized government pressed world leaders anew Thursday for help defeating the Iran-backed Houthi rebels, saying that their new perch along one of the world’s busiest waterways presents an international economic risk. The Houthis — who have controlled Yemen’s capital, Sanaa, and much of the country’s north for over a decade
President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate Wednesday, but the Fed matters less than broader economic trends when it comes to longer-term borrowing costs, economists say. The economy is growing steadily despite being hit with repeated shocks — and may even be accelerating — while inflation remains stubbornly
The U.S. naval blockade on Iran is already crushing its economy, and efforts to divert shipments over land are not providing much relief. Before the war, more than 80% of Iran’s trade tonnage transited by sea via southern ports, but that’s been closed off. U.S. Central Command said Sunday, it has redirected 109 commercial vessels
Two decades after the housing boom reshaped, then tanked, the U.S. economy, the AI boom is similarly transforming the drivers of growth. Hyperscalers have poured so much money into building as much AI infrastructure as possible—and as quickly as possible—that investment from a handful of companies is expected to reach $1 trillion a year soon.
