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A jittery CEO crowd at Milken looks abroad for growth—and answers
Also: All the news and watercooler chat from Fortune.
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Over 98% of stablecoins are dollar backed. That’s good for the U.S.—until it’s not
Crypto billionaire says growing global demand for U.S. dollar-backed stablecoins will tempt the government to print more money.
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Supermicro CEO insists ‘no one’ beyond indicted employees were involved in alleged $2.5 billion smuggling scheme
CEO and Chairman Charles Liang said Supermicro’s relationship with vendors including Nvidia, AMD, Intel, and Broadcom was “strong” despite the accusations against a Supermicro cofounder. Supermicro stock rose 17% in after-hours trading.
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Google and Amazon’s biggest profit driver last quarter was their Anthropic stakes—which they haven’t sold
Anthropic is the secret sauce this earnings season, as unrealized gains on the private company are so powerful they’re adding billions of shareholder worth to their partners.
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One American loses their job for every 6 immigrants removed from the workforce as researchers see ‘no evidence’ that ICE is helping the economy
“If anything, job opportunities for U.S.-born workers are going down as a result,” the University of Colorado Boulder’s Chloe East said.
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US pauses ‘Project Freedom’ as Trump seeks way out of Hormuz impasse
US and Iranian forces clashed in the strait during the one-day mission to help commercial vessels through the waterway
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Global oil reserves plunge at record pace as Middle East war strains supplies
Stocks near 8-year low ahead of summer travel season despite collapse in demand
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UK long-term borrowing costs hit highest level since 1998
Yields on 30-year gilts hit 28-year high on expectations BoE will raise rates two or three times to counter inflation threat