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Paolo Confino

Paolo Confino

Fortune

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The Fed is pausing interest rates as most investors expected — and stocks decline on the news

The Fed delivered on investor expectations and paused rate cuts for the first time in three meetings.

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Fortune

Paolo Confino

Trump Media expands into fintech and cryptocurrency — and the stock leaps

The president’s company will launch a fintech and investment platform called Truth.Fi to invest in ETFs and crypto.

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Fortune

Paolo Confino

Elon Musk gave the cold shoulder to Norway’s $1.4 trillion sovereign wealth CEO Nicolai Tangen after the fund snubbed the Tesla CEO’s pay package—twice

Musk texted Tangen it would be too “difficult and expensive” to travel to Oslo for a home-cooked dinner with other CEOs.

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Paolo Confino

Wall Street defiant after brutal tech selloff. ‘Market reaction is overdone’

Analysts say U.S. tech stocks will rebound because DeepSeek’s success will spur more investment into AI.

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Paolo Confino

The stock market gauge named after Warren Buffett just hit an all-time high, sending a warning worse than before the dot-com bubble burst

The metric, which compares the market cap of publicly traded companies to GDP, is higher than ever.

24.01.2025 10

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Paolo Confino

Stock market winners and losers on Trump’s second day in office

Overall, markets rose, as Trump eased investors’ fears about his line on tariffs.

22.01.2025 10

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Paolo Confino

Trump’s new memecoin and Trump Media stock are both plunging in a massive post-inauguration sell-off

Both assets have been accused of their value being disconnected from their financial performance.

21.01.2025 10

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Paolo Confino

Trump’s inauguration weather could be below 21°—the coldest since Ronald Reagan’s

If the forecast is correct, it will be the coldest inauguration since Ronald Reagan's in 1985.

18.01.2025 5

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Paolo Confino

As TikTok prepares to shut down, billionaire Frank McCourt wants to buy it to radically change how the internet works

McCourt wants to build a decentralized version of the internet where individual users, rather than tech companies, own the reams of data spawned by...

18.01.2025 5

Fortune

Paolo Confino

Goldman Sachs CEO says that AI can draft 95% of an IPO prospectus in minutes

It used to take two weeks for a team of six bankers to do the same task, Goldman Sachs CEO David Solomon said.

18.01.2025 10

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Paolo Confino

LeBron James’ business partner is raising $5 billion for a basketball league to rival the NBA

The international basketball league spearheaded by Maverick Carter would compete with the NBA.

17.01.2025 10

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Paolo Confino

Steve Bannon vows to demolish Elon Musk’s political influence in a mission he says is ‘personal’

Bannon leveled numerous insults against Trump’s wealthy ally, labelling him “evil” and urging him to return to his native South Africa.

13.01.2025 3

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Paolo Confino

Claims about a billionaire couple hurting efforts to fight the LA fires via their ‘control’ of the water supply are false

How Stewart and Lynda Resnick, owners of the Pom and Fiji brands, became the targets of antisemitic attacks.

12.01.2025 8

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Paolo Confino

Frank McCourt and Kevin O’Leary formally offer to buy TikTok after securing investors, debt financing, and a go-ahead from the White House

The Supreme Court is set to hear opening arguments in Bytedance’s case to block a sale.

10.01.2025 9

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Paolo Confino

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

The Netflix cofounder says his investments are “pure” index funds—and about $1.9 billion in Netflix stock.

09.01.2025 7

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Paolo Confino

Samsung warns its inability to meet demand for AI chips will make fourth-quarter profits fall sharply

The announcement comes after the world's largest memory-chip maker issued a rare apology in October acknowledging it was facing a "crisis".

08.01.2025 8

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Paolo Confino

Elon Musk’s attacks on Europe’s leaders and embrace of its far right signals to U.S. allies their relationship is set to change

Elon Musk, the world’s richest man and a major force in U.S. politics, is taking his influence to Europe.

08.01.2025 30

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Paolo Confino

Bedbugs are ‘more common on planes than people like to admit,’ cleaning expert says

Passengers reported finding bed bugs on multiple Turkish Airlines flights last year.

05.01.2025 7

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Paolo Confino

Airline passengers who found bedbugs infesting their seats were allegedly rebuffed by flight crew

Some of the flights with reports of bedbugs were 13 hours long.

02.01.2025 6

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Paolo Confino

Elon Musk eyes a deal with his native South Africa to let SpaceX offer Starlink service in exchange for a Tesla battery plant, report says

Musk’s political influence continues to grow.

30.12.2024 7

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Paolo Confino

Microsoft is the biggest of the mystery whales buying up Nvidia chips

The vast majority of Nvidia's coveted AI chips are bought by just a handful of the largest tech companies.

19.12.2024 2

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Paolo Confino

Nissan and Honda merger could be a move to head off crippling Trump tariffs

Combining forces would allow the companies to increase their U.S. manufacturing ahead of possible tariffs on car imports.

18.12.2024 5

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Paolo Confino

Donald Trump’s media company presents a new type of potential conflicts of interest

Trump media connects the President-elect’s political allies and his business interests in a decidedly 21st century tech company.

18.12.2024 20

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Paolo Confino

Brazil judge orders Adele song be pulled globally over plagiarism claim by local composer

A Brazilian judge has ordered a song by British pop superstar Adele, "Million Years Ago," be pulled worldwide—including on streaming services.

17.12.2024 6

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Paolo Confino

French MPs greenlight spending by decree to avoid government shutdowns, as opposition vows to block ‘any austerity budget’

As new French prime minister Francois Bayrou works on a new budget for 2025, critics have already said they will work to block any proposed cuts.

17.12.2024 10

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Paolo Confino

Trump’s $8 billion media company creates a complex set of potential conflicts for the incoming president

Trump’s political network, his media business, and his personal wealth have heavy overlaps.

17.12.2024 9

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Paolo Confino

Ex-Google CEO Eric Schmidt warns that when AI starts to self-improve, ‘we need to seriously think about unplugging it’

The longtime tech executive warns that it’s a ‘dangerous point’ when AI begins learning on its own.

16.12.2024 4

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Paolo Confino

Elon Musk’s lawyer said the SEC demanded the Tesla CEO pay a fine or face charges to resolve an investigation into his purchase of Twitter

The attorney also claimed the SEC reopened an investigation into Neuralink this week.

14.12.2024 20

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Paolo Confino

MyPillow CEO Mike Lindell sues a merchant cash advance firm over a ‘sham’ loan that had a 409% interest rate

Lindell’s company had to turn to a merchant cash advance provider, which are considered payday lenders for businesses.

13.12.2024 10

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Paolo Confino

Melinda French Gates will donate $150 million toward women in the workplace—and one-third of it will go to AI

Roughly a third of the donations will go toward supporting women in STEM and AI.

12.12.2024 10

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Paolo Confino

New York prosecutors reviewed surveillance footage and tracked a fake ID across state lines before charging Luigi Mangione with murder

He was arrested yesterday in Altoona, Pa., ending a weeklong manhunt across the Northeast.

10.12.2024 2

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Paolo Confino

UnitedHealthcare and other major insurance companies pull company and board leadership bios from their websites after executive’s killing

Pictures and commentary about executives can no longer be found on company websites.

06.12.2024 3

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Paolo Confino

Taylor Swift’s French-made private jet took 98 flights this year

The pop star's jet used roughly 80,000 gallons of fuel, according to an aviation tracker.

06.12.2024 5

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Paolo Confino

Exclusive: $12 billion liquor giant Pernod Ricard inks MLS sponsorship for Jameson whiskey brand

Major League Soccer is coming off a record year that saw all-time highs in attendance and sponsorship revenue.

05.12.2024 10

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Paolo Confino

Bayer Leverkusen CEO Fernando Carro reveals how he led the team to an undefeated season. ‘A football club has to be managed much like a business’

Before finally taking a job in sports, Carro worked for two decades at in the corporate world at German media conglomerate Bertelsmann.

28.11.2024 10

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Paolo Confino

A Silicon Valley billionaire chastised NFL legend Julian Edelman over a bad grade as a schoolboy. It led to a lifelong habit

After a bad middle school report card, Edelman’s father took him to see John Arrillaga, the real estate developer who built Silicon Valley.

27.11.2024 5

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Paolo Confino

NFL legend Rob Gronkowski’s best-ever investment: $69,000 worth of Apple stock he bought on advice from his contractor

Gronk made the investment when he was just 25-years-old and “didn’t know how stocks work.” It's more than tripled in value.

26.11.2024 4

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Paolo Confino

Trump Media explores crypto payment service to go along with Truth Social, filings show

Trump Media filed a trademark application for a cryptocurrency wallet called TruthFi.

22.11.2024 2

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Paolo Confino

Sam Altman has an idea to get AI to ‘love humanity,’ use it to poll billions of people about their value systems

The OpenAI CEO said it was his one wish for AI

22.11.2024 30

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Paolo Confino

Silicon Valley billionaire warns ‘absolutely there’s a bubble’ in AI valuations: ‘Nobody would be surprised’ if OpenAI ‘disappeared next Monday’

Longtime tech executive Tom Siebel said the market is "way, way overvaluing" AI companies of all sizes, from startups to the $157 billion OpenAI.

21.11.2024 20

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Paolo Confino

Nvidia crushes expectations, more than doubling its profit amid a 94% surge in revenue as AI demand booms

Nvidia topped analyst estimates across all metrics on its third quarter earnings call.

21.11.2024 4

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Paolo Confino

Goldman Sachs tells investors Trump’s tariffs pose a major ‘event risk’ and to expect growth to slow in 2025

The investment bank forecasts 11% growth in the S&P 500 next year and warns the economy will be pulled in two different directions.

20.11.2024 3

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Paolo Confino

Exclusive: Manufacturing platform Keychain raises $15 million in Series A funds, including from the maker of iconic breakfast cereals

Keychain is an online platform that connects food and beverage brands to manufacturers.

19.11.2024 20

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Paolo Confino

Trump’s pick for FCC chair wants to eliminate the law shielding social media companies from legal consequences for posts on their platforms

Section 230 lets social media companies like Meta, X, and TikTok bear no legal responsibility for content users post on their platforms.

19.11.2024 4

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Paolo Confino

Trump Media is near an all-stock deal to buy crypto platform Bakkt, report says

The move would be the first major acquisition on behalf of Trump Media, which already owns the small social media platform Truth Social.

19.11.2024 2

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Paolo Confino

Top Trump Media investor cashes out almost all his shares, filings show

ARC's current stake is just 30,147 shares of Trump Media after owning more than 11 million shares in September.

16.11.2024 10

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Paolo Confino

Cathie Wood says Elon Musk will succeed in his audit of the federal government because he has ‘more proprietary data’ than anyone

Wood said Musk understands the world is at “the threshold of a convergence among many technologies."

15.11.2024 2

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Paolo Confino

Trump Media has lost almost 50% of its value since a preelection rally sent the stock soaring

Many traders hoped to cash in on a possible Trump win—and once it happened, they sold.

15.11.2024 4

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Paolo Confino

The dream of mentally responding to text messages and emails without a device faces one very practical hurdle — ‘People like their skulls,’ a neurologist says

Here's what the CEO of a brain-implant company sees as the industry's biggest problem.

14.11.2024 3

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Paolo Confino

Trump and Musk both own social media platforms. Some think an alliance between X and Truth Social is coming

Although its user base is smaller, Truth Social had a higher valuation than X earlier this year when its stock price shot up.

14.11.2024 6

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Paolo Confino