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Paolo Confino

Paolo Confino

Fortune

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Robust March jobs report signals the economy is starting from a ‘position of strength’ if Trump tariffs spark downturn

In March, the U.S. added 228,000 jobs, while the unemployment rate ticked up to 4.2%.

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Fortune

Paolo Confino

BlackRock CEO Larry Fink says almost everyone he talks to is ‘more anxious about the economy than any time in recent memory’

Fink’s letter comes as Wall Street recession odds spike over concerns of looming tariffs.

31.03.2025 20

Fortune

Paolo Confino

Putin says it’s ‘a profound mistake’ to treat Trump’s push for Greenland and its vast deposits of rare minerals as ‘some preposterous talk’

President Donald Trump has made U.S. control of Greenland a pillar of his second term’s burgeoning foreign policy.

28.03.2025 9

Fortune

Paolo Confino

Trump tariffs could gross $800 billion in the next decade, CBO head says—but that doesn’t account for the backlash

As the Trump administration continues its tariff policy there are still too many variables to measure its net effect on the economy.

28.03.2025 10

Fortune

Paolo Confino

Leaked text messages reveal the U.S. bombed the Houthis’ ‘top missile guy’ as he was ‘walking into his girlfriend’s building’

The newly released messages reveal how top U.S. officials planned military strikes against terrorists in Yemen.

26.03.2025 4

Fortune

Paolo Confino

Real America’s Voice: How a tiny pro-Trump news network founded by a convicted criminal got so close to the president

The channel covers Trump the president while doing business with a Trump company.

26.03.2025 10

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Paolo Confino

What is Trump really worth? What we know about his business wealth—from real estate to crypto to Truth Social

The president is worth at least $4.9 billion, and crypto assets like $TRUMP and World Liberty Financial could add billions more.

26.03.2025 30

Fortune

Paolo Confino

Tesla bull Cathie Wood says it isn’t just Elon Musk’s politics that are causing Tesla’s ‘demand hit.’ It’s also a bad economy

Earlier this week, Wood issued a major bull call on Tesla, expecting its stock to rise roughly 10 times over the next five years.

25.03.2025 3

Fortune

Paolo Confino

Ray Dalio, a China investment expert, will advise Indonesia’s new $900 billion sovereign wealth fund

Ray Dalio joins economist Jeffrey Sachs and a former Thai prime minister as special advisors to one of Asia’s biggest investment firms.

24.03.2025 2

Fortune

Paolo Confino

Olive Garden parent company shrugs off concerns of plummeting consumer confidence because restaurant goers continue ‘to treat themselves and splurge’

Despite missing analyst expectations, Darden Restauant’s stock popped as it forecasted a sales lift next quarter amid pessimism about the economy.

21.03.2025 10

Fortune

Paolo Confino

Amid a grimmer outlook from the Fed, there’s a lone, mysterious holdout predicting stronger economic growth

The Fed’s consensus for GDP growth dropped from 2.1% to 1.7% after its latest round of economic forecasts published Wednesday.

21.03.2025 4

Fortune

Paolo Confino

The Fed is expected to hold rates steady, as investors white-knuckle it through a brutal selloff and recession fears. ‘Policymakers aren’t providing any encouragement’

The Federal Reserve is expected to maintain interest rates at their current level.

18.03.2025 10

Fortune

Paolo Confino

Here’s when AI will launch a decade-long cycle of economic growth and productivity gains

The bank predicts that productivity and GDP gains will start two years from now in 2027 and continue through most of the 2030s.

15.03.2025 9

Fortune

Paolo Confino

Walmart’s answer to tariffs was to pressure Chinese suppliers to lower costs. A supply-chain expert says the Chinese government will not take that lightly

One of the ways Walmart plans to navigate tariffs on Chinese imports is by getting suppliers to lower their costs.

13.03.2025 6

Fortune

Paolo Confino

Police are barricading Tesla cars and dealerships as people rage against Elon Musk’s machines

Protests against Tesla CEO Elon Musk at showrooms have led to property damage and arrests.

10.03.2025 5

Fortune

Paolo Confino

Jerome Powell says the ‘net effect’ of the Trump administration’s policies on trade, immigration, fiscal policy, and regulation will determine interest rates in the future

The Fed chair reassured an audience at the University of Chicago the economy was in a “good place” despite “elevated uncertainty.”

08.03.2025 8

Fortune

Paolo Confino

Lagging SpaceX, Bezos’s Blue Origin brings in former Amazon execs to reinstitute a hard-charging culture

Bezos hired a slew of top execs from Amazon as he builds out his fledgling space exploration company.

06.03.2025 4

Fortune

Paolo Confino

Kroger CEO resigns from $150 billion grocery chain over ‘certain personal conduct’, forfeiting 2024 bonus

Kroger’s board announced it had convened an independent investigation that ultimately led to McMullen’s departure.

03.03.2025 10

Fortune

Paolo Confino

In full view of the world, Trump and Vance tell Zelensky he can’t win the war. He told them they’re naive for believing Putin

Trump and Vance tell Zelensky the U.S.'s allyship is Ukraine’s only bargaining chip in negotiating an end to the war. "You’re not winning this,"...

28.02.2025 2

Fortune

Paolo Confino

Nvidia will face off with investors demanding perfection as the ‘spigot of investment dollars’ gushes into AI

Investors want updates on DeepSeek and margins for Blackwell, in what is otherwise expected to be another excellent quarter.

25.02.2025 20

Fortune

Paolo Confino

Trump Media board approves an investment fund to explore acquisitions

Trump Media wants to add more businesses in what it calls the “America First Economy,” according to an SEC filing.

22.02.2025 20

Fortune

Paolo Confino

Trump Media sues a Brazilian judge who clashed with MAGA ally Jair Bolsonaro hours after ex-president was indicted for an alleged coup and assassination attempt

Trump Media alleges that Brazilian judge Alexandre de Moraes’s move to ban certain social media accounts that support former president Jair...

19.02.2025 6

Fortune

Paolo Confino

Markets are starting to view Trump as more of a ‘pushover’ on tariffs than a protectionist, UBS economist says

President Donald Trump announced his administration will study reciprocal tariffs, but stopped short of implementing them at this time.

14.02.2025 7

Fortune

Paolo Confino

The U.S. just hit its lowest score ever on an international corruption measure

The Corruption Perceptions Index ranks 180 countries across a myriad of anti-corruption metrics.

12.02.2025 3

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Paolo Confino

Fed chair Jerome Powell brushes off possibility Trump could fire Fed officials: ‘Well it’s pretty clearly not allowed under the law’

Lawmakers of both parties grilled Powell over the Fed’s recent decisions.

11.02.2025 5

Fortune

Paolo Confino

Congressman sponsoring DeepSeek ban says China has ‘tried many, many’ times to infiltrate the U.S. via software: ‘We’re right to be vigilant’

A bipartisan initiative wants to ban DeepSeek on government devices over national security concerns.

08.02.2025 5

Fortune

Paolo Confino

Is it safe to fly? Experts say yes. ‘Thousands of operations have occurred since the accident’

After two shocking crashes dented Americans’ confidence in air travel, aviation experts say it remains safe to fly.

03.02.2025 6

Fortune

Paolo Confino

Trump Media is quietly storing at least one of its data centers in a facility owned by a longtime Republican donor and media mogul

Trump Media often redacts the location of its data centers, but a footnote in a contract pointed to the location of one.

01.02.2025 10

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Paolo Confino

Activist investor Elliott Management says crypto is facing an ’inevitable collapse’ after its ‘perceived proximity to the White House’ inflated a bubble

The legendary activist firm warned that crypto is leading a market frenzy that has investors “acting like a crowd of sports bettors” by flocking...

01.02.2025 20

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Paolo Confino

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.

29.01.2025 5

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.

29.01.2025 6

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.

29.01.2025 60

Fortune

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.

29.01.2025 6

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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

Fortune

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 8

Fortune

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 6

Fortune

Paolo Confino