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AI gets its own “boiler room” scandal | Fortune 0
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- August 18, 2026
This was a headline I’d been waiting to see. “Boiler room raised $74 million selling retirees SpaceX, Anduril, Anthropic, and Perplexity while reaping ‘massive hidden fees,’ SEC claims,” my colleague Amanda Gerut wrote last week, outlining a case that the SEC has brought against a Long Island-based financial firm it’s calling a pre-IPO “boiler room.”
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The global ‘freedom of the seas’ is dying in the Strait of Hormuz—and everyone, everywhere, will pay the tolls | Fortune 0
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- August 18, 2026
Concerns are growing that the de-facto tolling of the Strait of Hormuz could trigger a domino effect for key shipping bottlenecks worldwide, creating more global inflation and effectively killing key components of international maritime law. As Iran insists on some form of fee structure for traversing the now-infamous strait—and the U.S. increasingly seems unable to
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U.S. strategic reserves are getting so low it threatens damaging the 60 underground salt caverns storing American oil | Fortune 0
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- August 18, 2026
Strategic oil inventories have reached a 40-year low, and experts warn their continued depletion could damage the underground caverns where the reserves are stored. Last week, the Strategic Petroleum Reserve (SPR) plunged below 300 million barrels for the first time since the 1980s, when the reserves were being filled, according to the Department of Energy.
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Egg prices finally came down. Now nearly 19 million eggs have another problem | Fortune 0
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- August 18, 2026
Egg prices have finally stopped punishing American shoppers. A dozen averaged $2.19 in July, down nearly 26% from a year earlier as flocks recovered from avian flu. Now nearly 19 million eggs are carrying a different kind of problem—and the sell-by dates on some of them run through today. The problem began in July, when
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Ousted L3Harris CEO Chris Kubasik forfeits $45 million—but he’ll still walk away with $80 million | Fortune 0
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- August 18, 2026
Defense giant L3Harris forced out chairman and chief executive Chris Kubasik, 65, over the weekend after a board investigation revealed that he had violated the company’s code of conduct. The $50 billion aerospace-and-tech company did not provide any detail about what Kubasik did to violate the code, but specified it did not involve financial reporting,
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57 Trump officials are worth $100 million or more—quadruple the combined total of the last three presidents | Fortune 0
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- August 18, 2026
Wealth, perhaps second only to loyalty, has been a prized attribute for Donald Trump during his second presidency. The number of people worth at least $100 million whom the Republican president has appointed to his administration is more than four times the combined total under the three previous presidents, according to a report from the consumer advocacy
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