Latest news with #DianeBrady
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42 minutes ago
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Circle's CEO is thrilled over SEC oversight
In today's CEO Daily: Diane Brady on Circle's IPO pop. The big story: Elon Musk and Donald Trump are fighting. The markets: Up in U.S. before jobs report. Analyst notes from UBS, BofA, and Goldman Sachs. Plus: All the news and watercooler chat from Fortune. Good morning. Yesterday was a very good day for Jeremy Allaire, as shares in his crypto firm Circle (CRCL) began trading on the New York Stock Exchange, closing at 168% above its $31 IPO price (the company upsized the IPO the night before its debut). 'As we went through our IPO Road Show and ultimately priced the deal, we saw an incredible amount of interest and enthusiasm from an incredibly broad and deep array of investors,' Allaire told me in a phone conversation on Thursday. It's been a long journey for Allaire, who tried to take the stablecoin issuer public through a SPAC merger in 2021 but didn't get approval from the SEC, which had then questioned how to classify its USD Coin, a form of cryptocurrency backed by the U.S. dollar, and the company itself. Fast forward and it's a new day. The GENIUS Act just passed the Senate with bipartisan support and looks likely to become law, providing a federal framework for regulating stablecoins. (The House introduced its own stablecoin bill.) Said Allaire: 'No matter what your political affiliation is, sound regulation makes sense, especially when a technology like this is on the cusp of such widespread adoption.' For Allaire, though, nothing matches the thrill of being under the watch of the U.S. Securities and Exchange Commission. 'As a financial platform and financial infrastructure company that people are going to build on, where we're actually issuing a new kind of money, being public really matters,' he said. 'Becoming an SEC-regulated and supervised company just strengthens those attributes at a time where stable coin is becoming a global mainstream phenomenon.' At the end of a long day, Allaire told me he's grateful to his family, his team, developers that build applications on this technology, and the broad and deep array of investors that helped give Circle a successful debut. But, he says, he doesn't want to get too caught up in the stock price. 'What's important is that we're building a great company. We've got investors that want to be with us. We've got a lot to do.' More news CEO Daily via Diane Brady at This story was originally featured on Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
2 days ago
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Is IBM cool again?
In today's CEO Daily: Diane Brady on IBM's new Manhattan HQ. The big story: Trump complains Xi is 'extremely hard to make a deal with'. The markets: Up despite China deal and metals tariffs drama. Analyst notes from Convera, EY, and UBS. Plus: All the news and watercooler chat from Fortune. Good morning. Is IBM cool again? During a NY Tech Week reception last night at IBM's new Manhattan headquarters, I quietly asked that question to some attendees. One person cited Watson, the early chatbot that famously won Jeopardy! in 2011, as proof of both the company's pioneering innovation, and its ability to lose a big lead. Others pointed to a positive shift that's happened since Arvind Krishna became CEO of Big Blue in April 2020, both in terms of the stock price and meaningful growth in realms like AI. My colleague Sharon Goldman explores IBM's rebound in our Fortune 500 package that published this week. In many ways, it's a model of resilience, having appeared on the Fortune 500 every year since debuting at No. 61 on the inaugural list in 1955. But it was the only brand among 17 U.S. tech companies valued at $100 billion or more to have lost market value over the past eight years when Krishna took over. Krishna is a 35-year IBM veteran who's also its first CEO to boast an engineering background. And as Goldman writes, he was struck early on by the potential of AI. She writes: 'Krishna, a PhD engineer with decades of research experience, instantly recognized a game changer—and a huge opportunity. Once these models were mature enough, he realized, they would be able to help businesses handle everything from customer service to chemistry equations to climate modeling with unprecedented scale and efficiency—creating powerful new products for IBM to sell.' Goldman adds that he has 'steered billions in R&D money into new AI 'foundation models' and the infrastructure to support them. He also pushed the company to prepare for the rise of AI by updating its hybrid cloud platform—data-storage technology that Krishna had championed as the head of IBM's cloud division.' With the stock up over 20% year to date, there are certainly glimmers that Big Blue could be gaining momentum. Krishna is certainly up for the challenge. As he told Sharon: 'Engineers don't get scared about building big things.' Read Sharon's full story here. More news CEO Daily via Diane Brady at This story was originally featured on Sign in to access your portfolio
Yahoo
3 days ago
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Welcome to the Fortune 500's 71st annual edition
In today's CEO Daily: Diane Brady on the Fortune 500's new edition. The big story: China accuses U.S. of 'violating' trade truce. The markets: Worried about China-U.S. trade tensions. Analyst notes from UBS, Deutsche Bank, and Goldman Sachs. Plus: All the news and watercooler chat from Fortune. Good morning. We just published the 71st annual edition of the Fortune 500, our definitive list of America's largest companies. The minimum cutoff to make the list this year is $7.4 billion in revenue, up 4% from 2024. Walmart earned the top spot for the 13th straight year, with more than $648 billion in revenues. But Alphabet was America's most profitable company, with more than $100 billion in profits, and Apple was No. 1 by market cap. In total, Fortune 500 companies represent two-thirds of U.S. GDP with $19.9 trillion in revenues, $1.9 trillion in profits, $46 trillion in market cap, and some 31 million employees worldwide. What's fascinating about this list is its evolution, as new players displace old ones in an ever-shifting business landscape. Despite geopolitical turmoil, tech disruptions, economic uncertainty, and more, there are only 22 new names on this year's list, which is the second-lowest turnover in the past three decades. Newcomers include Oscar Health, Palo Alto Networks, and spinoffs like energy giant GE Vernova and Kenvue, formerly the consumer health care division of Johnson & Johnson. Among those who dropped off: Liberty Media and timber company Weyerhaeuser. 2025 may turn out to be the calm before the storm, as AI is already making an impact. Nvidia more than doubled its revenue last year, as did server company Super Micro Computer. Chipmakers Broadcom and Micron Technology also reaped AI-driven gains. Vistra, which provides power for AI data centers, saw its stock more than triple in 2024. But the biggest gainers on that front were Fannie Mae and Freddie Mac, which set investors' hopes soaring with reports that they might exit government receivership. Finally, while the number of billion-dollar startups may have waned—remember this cover story?—a growing number of Fortune 500 companies are now eyeing trillion-dollar valuations. Berkshire Hathaway became the first non-tech company to join a club that counts Apple, Microsoft, Nvidia, Amazon, Alphabet, and Meta as members. More news CEO Daily via Diane Brady at In total, Fortune 500 companies represent two-thirds of U.S. GDP with $19.9 trillion in revenues, and they employ 31 million people worldwide. Last year, they combined to earn $1.87 trillion in profits, up 10% from last year—and a record in dollar terms. View the full list, read a longer overview of how it shook out this year, and learn more about the companies via the stories below. This year, Alphabet became the first company on the Fortune 500 to surpass $100 billion in profits. Take an inside look at which industries, and companies, earned the most profits on this year's list. Read more UnitedHealth Group abruptly brought back former CEO Stephen Hemsley in mid-May amid a wave of legal investigations and intense stock losses. How can the insurer get back on its feet? Read more NRG Energy is the top-performing stock in the S&P 500 this year, gaining 68% on the back of big acquisitions and a bet on data centers. In his own words, CEO Larry Coben explains the company's success. Read more This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
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Ruling against Trump tariffs is a win for the legislative branch
In today's CEO Daily: Diane Brady on Trump's tariff loss in court. The big story: Nvidia beats expectations. The markets: Pleased with the court ruling. Analyst notes on the tariff ruling from UBS, Convera, and Deutsche Bank. Plus: All the news and watercooler chat from Fortune. Good morning. For months, many business leaders have quietly opposed President Trump's tariffs—quietly because many were shocked and unnerved that one man could upend the global economy and hard-wrought trade deals with a flash of his pen from the Oval Office. The president had justified his sweeping unilateral orders under the International Emergency Economic Powers Act of 1977 (IEEPA), citing trade as a national emergency. But on Wednesday, the U.S. Court of International Trade unanimously ruled that IEEPA did not confer such authority, invalidating Trump's 'Liberation Day' tariffs and fentanyl-related tariffs on Canada, Mexico and China. In many ways, this is a triumph of the legislative branch of government, reasserting the role of Congress in levying tariffs and establishing limits on the executive branch. The court itself was established by an act of Congress in 1980 and traces its roots back to a tariff law passed in 1789. What this ruling does to current trade negotiations and recent deals remains to be seen. But the U.S. futures markets reacted positively Wednesday night, further fueling investor hopes that a trade war can be averted. (On a separate note, Elon Musk announced Wednesday that he's leaving Washington, ending another act of the executive branch that gave the unelected entrepreneur powers that critics had argued were unlawful.) Now, of course, the tariffs drama will shift back to the judicial branch of government after the president's lawyers indicated that they would appeal the court's decision. Ultimately, the scope of presidential powers and clarity on what constitutes an emergency order under IEEPA may be decided by the Supreme Court. In the meantime, a little-known institution operating out of lower Manhattan has reminded the rest of the world that the rule of law and division of powers matter. More news CEO Daily via Diane Brady at This story was originally featured on Sign in to access your portfolio
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28-05-2025
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Health care AI revolution starts with building trust
In today's CEO Daily: Diane Brady on building patient and doctor trust in AI. The big story: Stellantis names a new boss The markets: Taking a breather after Tuesday's jump Analyst notes from Morningstar on Nvidia earnings; Convera on the Fed; and UBS on Trump's tariff swings. Plus: All the news and watercooler chat from Fortune. Good morning. From diagnosing illness to reducing paperwork, AI is already reshaping health care. But only 48% of U.S. patients surveyed in the 2025 Philips Future Health Index (FHI) believe AI will improve outcomes, vs. 63% of clinicians. That trust gap is hardly surprising in a country where many of us experience delays, unforeseen expenses, denials and general frustration in accessing the health care system. As Philips chief innovation officer Shez Partovi has noted, it's an issue we need to address to realize the potential gains of AI adoption. As we discussed at a recent Fortune dinner with Partovi and a dozen leaders of major health care systems around the country, closing the gap is a multipronged challenge. Public trust in the U.S. health care system fell from 71.5% in 2020 to 40.1% in 2024, in part due to COVID, and more than a third of Americans say they've skipped or postponed care because of the cost. Add in concerns about discrimination, as well as how personal health data may be used, and it's understandable why patients may not welcome AI. My colleague Jason Del Rey spoke about that challenge at the dinner with Partovi; Northwell Health chief medical officer Jill Kalman; and David Reich, chief clinical officer of the Mount Sinai Medical System. Kalman and Reich agreed that the first step for them was to build trust with professionals. 'When you obsessively build AI into workflows in ways that make people's jobs better, then you develop that trust,' Reich said. 'To give an example, when we developed an algorithm that predicted severe malnutrition in the hospital, dietitians at first were a little skeptical, but they were involved in the process, and they are now three times more likely to diagnose and treat severe malnutrition than before.' Kalman added that there's a generational element to trust in technology—indeed the study found one third of patients over 45 are optimistic that AI can improve health care vs. two thirds of those aged between 18 and 44—and argued that transparency is key. 'You have a health system that has all of these huge reams of data,' she noted. 'Who owns it? Who monetizes it? Who wants it?' On the plus side, she says Northwell now uses AI to streamline prior authorization: 'There's no risk to the patient and the operational value is incredible.' More news CEO Daily via Diane Brady at This story was originally featured on
