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BUSINESS NEWS
- Sam Bankman-Fried formally files for pardon—but White House reiterates that FTX cofounder’s odds are slim
by Camila Grigera Naon on June 9, 2026 at 10:16 pmAfter donating to the Democrats before his conviction, the onetime crypto billionaire has recently made overtures to the GOP.
- Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
by Eva Roytburg on June 9, 2026 at 9:43 pmA midday rout in the "Parabolic 7" chipmakers reversed by the close as money fled into the market's dullest corners.
- Texas ICE facility spent $11.5 million on guards, medical services, transportation and meals weeks before the camp even held detainees, GAO finds
by Michael Biesecker, Ryan J. Foley, The Associated Press on June 9, 2026 at 9:37 pmThe Government Accountability Office found a detainee escaped in October and a security guard lost a loaded firearm inside the facility that was never recovered. Additionally, the contractor failed to administer tuberculosis skin tests to screen detainees, which led to an outbreak.
- AI isn’t replacing Hyatt’s salespeople—it’s freeing up a full day of work every week, according to the CEO
by Sharon Goldman on June 9, 2026 at 9:03 pmAs companies move beyond AI pilots, Hyatt says the technology is delivering measurable business results.
- America’s grid is reeling. General Motors offers itself as a distributed utility in disguise
by Nick Lichtenberg on June 9, 2026 at 9:00 pmAs AI data centers strain the grid, GM wants to turn its EVs and batteries into a solution. Ford has a simpler plan—and the two Detroit rivals are betting on very different futures.
- Tesla cofounder: ‘We should be really worried’ about the U.S. grid as China speeds ahead in the power race
by Jordan Blum on June 9, 2026 at 8:47 pmThe U.S. must build much more power, storage, and better utilize the existing grid in order to keep the AI boom moving at pace, said Tesla cofounder and Redwood Materials boss JB Staubel at the Fortune Brainstorm Tech conference.
- Trump’s 80th birthday present is a UFC cage on the South Lawn of the White House
by Will Weissert, The Associated Press on June 9, 2026 at 8:22 pmThe South Lawn is sometimes called America’s backyard.
- FIFA says ‘market rates’ explain World Cup prices. Economists say the market was rigged by design
by Catherina Gioino on June 9, 2026 at 7:52 pmFIFA launched its own resale marketplace and collects 30% on every ticket resold. Economists say it was designed to extract revenue at every stage.
- ‘Getting control where we can’: Europe wants sovereign AI, but most of the chips are from the U.S.
by Amanda Gerut on June 9, 2026 at 5:58 pmAt Fortune Brainstorm Tech, Mistral’s Timothée Lacroix made the case for European control over the AI stack.
- A $200 million boomer estate, millennial heir Nick Reiner, and the dark side of the Great Wealth Transfer
by Nick Lichtenberg on June 9, 2026 at 5:27 pmThe fight over a trust is a grim preview of what happens when the largest inheritance in history runs into a family at war.