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U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google

1

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
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xi
Xi offers AI olive branch to the world, calling for ‘symphony of global cooperation’

“The development of artificial intelligence should not be a solo performance by any single country,” the Chinese president said at an event in in Shanghai.

By Han Guan Ng, Chan Ho-Him and The Associated PressJuly 17, 2026
white house
Broadcast networks wrestle with whether to air Trump’s conspiracy theories or get sanctioned for dropping him
By Jocelyn Noveck and The Associated PressJuly 17, 2026
ice
ICE officer in fatal Maine shooting had history of mental health crises, Congress learns in ‘bombshell’ report
By Lisa Mascaro and The Associated PressJuly 17, 2026
trump
White House insists it has ‘extremely strict ethical guidelines’ as teleprompter op goes on unpaid leave over $100,000 insider trading allegations
By Bill Barrow and The Associated PressJuly 17, 2026
t
Trump is selling millisecond access to his Truth Social blasts — and traders are already lining up
By Bernard Condon and The Associated PressJuly 17, 2026
Suno Ai on a phone screen with Warner Music Group's logo in the background.
The VC betting $5.4 billion that Suno is the future of music
By Lily Mae LazarusJuly 17, 2026
Law
More in Law
How Apollo-owned Michaels turned two rivals’ bankruptcies into a growth strategy
How Apollo-owned Michaels turned two rivals’ bankruptcies into a growth strategy

The arts and crafts retailer leaning on party supplies and fabric to end years of stagnation.

By Phil WahbaJuly 17, 2026
Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation

Two organizations targeted by O’Leary say his comments caused “significant economic losses, severe emotional distress, and ongoing threats to their physical safety.”

By Marco Quiroz-GutierrezJuly 17, 2026
Epstein survivors say Todd Blanche ignored them. Now one Republican senator is making him listen

As Trump’s AG nominee apologizes for redaction errors that left nude photos and names of accusers exposed, Thom Tillis is dangling his decisive vote.

By Alanna Durkin Richer, Joey Cappelletti and The Associated PressJuly 16, 2026
‘We absolutely screwed up’: JD Vance blames Pam Bondi for the Trump administration’s miscommunication around the Epstein files

The vice president went on Joe Rogan’s podcast on Wednesday and said the former DOJ head “overstated” what was in the Epstein files.

By The Associated Press and Seung Min KimJuly 16, 2026
More in Law
Politics
More in Politics
t
Tariff Man’s money machine broke. Now he’s trying to fix it with a forced‑labor crusade

After the Supreme Court killed his emergency‑powers import taxes and forced massive refunds, Trump is racing to meet a July 24 deadline.

By Paul Wiseman and The Associated PressJuly 16, 2026
Europe optimized its supply chains for cost. Now it must pay for resilience  

Richard Saynor, CEO of Fortune 500 Europe company, Sandoz Group, and manufacturer of generic medicines, argues resilience requires investment that markets often fail to reward

By Richard SaynorJuly 16, 2026
Meta Oversight Board study: AI chatbots may be the most perfect propaganda machine ever invented

The study found bots even answer differently based on language too — ChatGPT calls China “not a democracy” in English, but hedges in Chinese.

By Didi Tang and The Associated PressJuly 16, 2026
Trump insists ‘Iran is unhappy right now’ while venting about ‘electric catapults that don’t work’ at defense tech summit

After a long aside about the use of magnets to improve catapults on vessels, Trump finally offered, “I hope I’m not boring anybody.”

By Will Weissert, Sagar Meghani and The Associated PressJuly 16, 2026
More in Politics
Latest stories from Fortune
Commercial auto insurance explained for business owners
Personal Finance
Commercial auto insurance explained for business owners
By Joseph HostetlerJuly 17, 2026
So you want to buy a sports franchise? Why entering sports ownership gives the rich a ‘very elite and exclusive club’ with great tax benefits
Investing
So you want to buy a sports franchise? Why entering sports ownership gives the rich a ‘very elite and exclusive club’ with great tax benefits
By Catherina GioinoJuly 17, 2026
Jensen Huang’s signature black leather jacket just sold at Sotheby’s for nearly $1 million—and the money is going to young tech builders
Success
Jensen Huang’s signature black leather jacket just sold at Sotheby’s for nearly $1 million—and the money is going to young tech builders
By Sydney LakeJuly 17, 2026
Businesses are experimenting with cheaper Chinese AI models as U.S. rivals get more expensive
AI
Businesses are experimenting with cheaper Chinese AI models as U.S. rivals get more expensive
By Tatiana SatauaJuly 17, 2026
NordicTrack X24 Treadmill Review (2026): Expert Reviewed
Health
NordicTrack X24 Treadmill Review (2026): Expert Reviewed
By Christina SnyderJuly 17, 2026
Sarah Friar, CFO of OpenAI
AI
OpenAI’s CFO: 4 questions that reveal if your AI spend is paying off
By Sheryl EstradaJuly 17, 2026
Markets may have just experienced their second DeepSeek shock, this time thanks to a Chinese AI lab named after a Pink Floyd album
Asia
Markets may have just experienced their second DeepSeek shock, this time thanks to a Chinese AI lab named after a Pink Floyd album
By Nicholas GordonJuly 17, 2026
Raj Subramaniam, CEO of FedEx
Success
FedEx’s CEO landed his first job by taking a roommate’s abandoned interview. Now he’s running a $75 billion shipping giant
By Emma BurleighJuly 17, 2026
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Warren Buffett says markets are like a church with a casino attached, but ‘we’ve never had people in a more gambling mood than now’
Investing
Warren Buffett says markets are like a church with a casino attached, but ‘we’ve never had people in a more gambling mood than now’
By Jason MaMay 2, 2026
Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook 
Economy
Interest on U.S. debt is becoming a top driver of future deficits, as the sheer size of past borrowing overwhelms the fiscal outlook 
By Jason MaMay 2, 2026
bard
C-Suite
Bard College president steps down, months after his deep ties to Jeffrey Epstein were revealed
By The Associated PressMay 2, 2026
trump
Politics
America’s paying more at the pump. Trump’s new Air Force One jet donated by Qatar is nearly ready
By Jonathan J. Cooper and The Associated PressMay 2, 2026
Trump flouts lower court rulings in unprecedented display of executive power, and ‘respect for the rule of law is likely to break down’
Law
Trump flouts lower court rulings in unprecedented display of executive power, and ‘respect for the rule of law is likely to break down’
By Sudhin Thanawala and The Associated PressMay 2, 2026
Pope Leo XIV encourages wealthy U.S. Catholics to keep donating after Papal Foundation approves most grants in its history
Politics
Pope Leo XIV encourages wealthy U.S. Catholics to keep donating after Papal Foundation approves most grants in its history
By Nicole Winfield and The Associated PressMay 2, 2026
Federal appeals court blocks mifepristone distribution by mail in biggest jolt to abortion policy since the overturning of Roe v. Wade
Law
Federal appeals court blocks mifepristone distribution by mail in biggest jolt to abortion policy since the overturning of Roe v. Wade
By Hannah Schoenbaum, Geoff Mulvihll and The Associated PressMay 2, 2026
Trump picked a fight with the Pope: The one person he can’t fire, can’t outbid, and can’t outlast
Politics
Trump picked a fight with the Pope: The one person he can’t fire, can’t outbid, and can’t outlast
By Catherina GioinoMay 2, 2026
A group of people wait by a gap pump with their motorcycles.
Energy
One economist’s ‘radical idea’ to solve the biggest energy crisis in history: a reverse OPEC
By Sasha RogelbergMay 2, 2026
mackenzie
Commentary
Stop donating to Harvard and the Ivy League. There’s a better option that MacKenzie Scott already figured out
By Ed Smith-LewisMay 2, 2026
drinks
Commentary
We need a new way of thinking about drinking: Time to replace the ‘standard drink’ with advice people can actually use
By Justin KissingerMay 2, 2026
Betting on the Kentucky Derby is more popular than ever. So why is it so confusing?
Law
Betting on the Kentucky Derby is more popular than ever. So why is it so confusing?
By Catherina GioinoMay 2, 2026
In this handout photo provided by U.S. Central Command, U.S. forces patrol the Arabian Sea near M/V Touska on April 20, 2026, after firing upon the Iranian-flagged vessel that the U.S. accused of attempting to violate the U.S. naval blockade of Iranian ports near the Strait of Hormuz. (Handout Photo by the U.S. Navy via Getty Images)
Politics
The Iran war has turned the world’s shipping straits into a chessboard—and the U.S. aims to box out China from the Panama Canal to the Malacca Strait
By Jordan BlumMay 2, 2026
Trump says a ‘final proposal’ for a taxpayer-funded takeover of Spirit Airlines is under consideration
Politics
Trump says a ‘final proposal’ for a taxpayer-funded takeover of Spirit Airlines is under consideration
By Michelle L. Price, Rio Yamat and The Associated PressMay 1, 2026
U.S. to withdraw 5,000 troops from Germany as Trump feuds with Merz over the Iran war
Europe
U.S. to withdraw 5,000 troops from Germany as Trump feuds with Merz over the Iran war
By Ben Finley and The Associated PressMay 1, 2026
trump
Politics
Trump on Iran: ‘They want to make a deal, I’m not satisfied with it, so we’ll see what happens’
By Toqa Ezzidin, Munir Ahmed, Collin Binkley and The Associated PressMay 1, 2026
bernie
Politics
Bernie Sanders is destroying Chuck Schumer in the Democratic Party’s Civil War ahead of the midterms
By Steve Peoples and The Associated PressMay 1, 2026
cox
C-Suite
Billionaires have a problem money can’t solve: They don’t know how to talk to their kids
By Nick LichtenbergMay 1, 2026
charles
Politics
King Charles’ stiff upper lip on Epstein: ‘support victims of some of the ills that, so tragically, exist in both our societies’
By Jill Lawless and The Associated PressMay 1, 2026
trump
Economy
Trump says he’ll hike EU auto tariffs to 25%, jolting a world economy that really didn’t need it
By Josh Boak and The Associated PressMay 1, 2026
male engineer working under pylon
Energy
Utility CEOs pocket $626 million as American energy bills hit record highs
By Tristan BoveMay 1, 2026
CEOs got an 11% pay raise in 2025. Workers got 0.5%
Economy
CEOs got an 11% pay raise in 2025. Workers got 0.5%
By Marco Quiroz-GutierrezMay 1, 2026
Photo of a bowl of mac and cheese
Law
A Chick-fil-A worker got fired and then showed up behind the register to allegedly refund himself over $80,000 in mac and cheese
By Catherina GioinoMay 1, 2026
By staying on the Fed’s board, Jerome Powell could be doing incoming Chairman Kevin Warsh a huge favor 
Economy
By staying on the Fed’s board, Jerome Powell could be doing incoming Chairman Kevin Warsh a huge favor 
By Jason MaMay 1, 2026
elon
Law
Elon Musk gets testy on the stand: ‘I thought I had started a nonprofit with OpenAI but they stole it’
By Barbara Ortutay and The Associated PressMay 1, 2026
trump
Politics
Trump White House argues Iran War is over because of cease-fire that began in April
By Seung Min Kim and The Associated PressMay 1, 2026
‘Cut up the credit cards:’ Congress is getting brutal about ‘embarrassing’ $31 trillion national debt
Economy
‘Cut up the credit cards:’ Congress is getting brutal about ‘embarrassing’ $31 trillion national debt
By Eleanor PringleMay 1, 2026
tamas
Commentary
SEON CEO: Prediction markets can forecast the future. Can they survive their own manipulation problem?
By Tamas KadarMay 1, 2026
Newly appointed Apple CEO John Ternus (left) with outgoing CEO Tim Cook in Cupertino, Calif. (Photo courtesy Apple)
Politics
Apple’s new CEO said he will continue the company’s tradition of secrecy—and Wall Street loved it
By Jim EdwardsMay 1, 2026
sundar
Commentary
America at 250: immigration and the making of an innovative nation
By Nasser KazeminyMay 1, 2026
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Most Popular
Economy
U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran warplaceholder alt text
By Sasha RogelbergJuly 17, 2026
C-Suite
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’placeholder alt text
By Fortune EditorsJuly 15, 2026
Big Tech
Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Googleplaceholder alt text
By Mia OsmonbekovJuly 16, 2026
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