But Doubleline Capital Founder and CEO Jeffrey Gundlach told Yahoo Finance Wednesday that the debate is pointless, the inflation outlook is “darkening,” and Americans need to prepare for an economic downturn no matter what. “People are always asking me this question: ‘How bad is the recession going to be?’ It doesn’t matter. If it’s raining two inches an hour, you still need an umbrella,” the billionaire investor known as the “Bond King” said. On Wednesday, the bond market veteran added that rapidly increasing borrowing costs have the potential to cause increasing defaults in some U.S. companies as the economy slows this year. As Fortune previously reported, many so-called “zombie companies” have been able to survive off cheap debt over the past decade, using the junk bond market to fund unsustainable business models.
Twitter CEO Elon Musk on Wednesday said that the social media platform’s algorithm will be made open source and will be improved gradually in the coming months. Musk has been pitching the idea to open source Twitter’s algorithm even before his hostile takeover of the social media platform in October last year. In a tweet, he said, "Prepare to be disappointed at first when our algorithm is made open source next week, but it will improve rapidly!" If Twitter's algorithm becomes open source, users and lawmakers can easily inspect the mechanism of content recommendation in the social media platform. Earlier this week, the social media platform announced a slew of changes.29 days ago Fortune India: Business News, Strategy, Finance and Corporate ...
Since then, Adani’s close ties with Indian Prime Minister Narendra Modi have come under scrutiny, putting Modi in a difficult position. George Soros could not be immediately reached for comment. Even members of the opposition party in India have rejected the connection between Modi, Adani and the dawn of institutional reform in India. It has NOTHING to do with George Soros. Modi and Adani are natives of the same state in the west of India, and Adani has supported Modi since his early days in power.1 month ago Fortune
This past year, the Russian economic machine has been impaired as our original research compendium shows. In the initial months following the invasion, Putin’s energy earnings soared. The Russian economy is being propped up by the Kremlin. More can be doneAlthough 2023 will exacerbate each of these trends and further batter the Russian economy, there is even more that can be done to grease the skids. Only then will the Russian economy and people stand a chance of returning to prosperity.1 month ago Fortune
To many workers, the idea of “corporate culture” has become a platitude without any real value or meaning. Schneider Electric is a prime example of a company that has deployed a singular corporate culture to offset the diversity of its global team.
So what’s the common purpose that Schneider’s executive committee has all subscribed to?
“We believe that to be sustainable is responsible. Spending quality time together also helps committee members learn each other’s communication styles, which, again, helps settle disputes when they arise. A new study proves them wrongFuture Forum’s latest Pulse survey—a quarterly poll of 10,000 office workers—finds that corporate culture actually benefits from flexible work policies, rather than come-to-office mandates.1 month ago Fortune
Elon Musk’s Tesla won’t be the only game in town anymore when it comes to self-driving cars over the next few years. Cummings has for years called for more stringent regulation on self-driving cars and had a public run-in with Musk and his legion of online supporters on the matter in 2021. Now she’s warning that drivers can become negligent behind an autonomous car’s wheel and put themselves at a higher risk of speeding. “They are letting the cars speed. Of those total crashes, 273 involved Tesla vehicles, five of which were fatal.1 month ago Fortune
“I wanted to smell that second wonderful era of the valley, the semiconductor companies leading into the future. You can’t really understand what is going on now unless you understand what came before,” Jobs told her for the Silicon Valley history Troublemakers. I thought of this story in light of last week’s demise of LocalBitcoins, a site founded in 2012 that arranged peer-to-peer crypto trading. I recount all of this not to lament the end of LocalBitcoins, whose original service had become obsolete as a host of other companies sprung up that offered faster and more convenient ways to buy Bitcoin. In other words, LocalBitcoins may go away but its spirit lives on.1 month ago Fortune
Those of you who watched the Super Bowl last night know it was a great game, with a kind of odd halftime show. But I watch the Super Bowl for the ads. Beyond that, the Super Bowl advertising was pretty standard football stuff: beer, shoes, cars, Pepsi, peanuts, Disney, Doritos, Downy, Dunkin’…oh yes, and avocados. If you want to know what their payday looks like, read here. (Bonus read: European countries have now allocated around $850 billion to dealing with the energy crisis.)1 month ago Fortune