Rolls-Royce CEO Tufan Erginbilgiç: ‘You can’t always influence the macro stuff but you influence how you deal with it’

I caught him on a good day, fresh from reporting a 50% jump in half-year fits to £1.7 billion ( $2.3 billion), that’s helped the U.K. aerospace company’s stock price more than double so far this year

Erginbilgiç says he’s “changed everything the company” since becoming CEO in early 2023

When trying to align 50,000 people around transformation, his advice is not to obsess over the AI or budget target. “Nobody gets excited budgets,” he says. “Tell people what good looks .” CEO Daily via Diane Brady at diane.brady@fortune.comTop newsIntel CEO to meet TrumpIntel CEO Lip-Bu Tan is scheduled to visit the White House today, after President Trump called on him to resign last week due to his personal investments in Chinese companies

But acquiring es is a skill of its own, and David Yoffie, a Harvard School fessor who was on Intel’s board of directors at the time, told Fortune “100% of those acquisitions failed

We spent $12 billion, and the return was zero or negative.”Former Intel CEO has a 10-point plan for the company’s futureFormer Intel CEO Craig Barrett outlined in a new piece for Fortune 10 reasons why the U.S. needs the embattled company, and how to it

His plan includes $40 billion in outside investment.Nvidia and AMD agree to pay U.S. government in a China chip export dealThe two companies have struck a deal with the Trump White House to pay the U.S. government 15% of sales from their Chinese chip-making operations in return for being allowed to continue making and exporting chips from China, the FT reports.Trump wants less people moved out of DCAn enhanced FBI presence has been deployed to Washington D.C. in advance of an anti-crime press conference at the White House today. “The less have to move out, IMMEDIATELY

Instead, AI models are making only incremental leaps in performance and becoming specialised for niche tasks.Moody’s economist on job dataMoody’s Analytics chief economist Mark Zandi warned on X on Sunday that the fact that “employment is declining in many industries” could be an indicator of an recession. “In the past, if more than half the ≈400 industries in the payroll survey were shedding jobs, we were in a recession… In July, over 53% of industries were cutting jobs,” Zandi wrote.Trump’s pick for the Fed boardPresident Donald Trump last week nominated his chief economic adviser, Stephen Miran, to temporarily fill a vacant seat on the Federal Reserve Board

JPMorgan chief economist Bruce Kasman warned in a note on Friday that Miran’s reform agenda—posals to let the president fire Fed officials and shift regulatory powers to the Treasury—poses an “existential threat” to Federal Reserve independence.The S&P 500 futures were flat this morning, premarket, after the index closed up 0.78% on Friday

STOXX Europe 600 was flat in early trading

The U.K.’s FTSE 100 was up 0.25% in early trading

Japan’s Nikkei 225 was up 1.85%, hitting a new all-time high

China’s CSI 300 was up 0.43%

The South Korea KOSPI was down 0.1%

India’s Nifty 50 was up 0.69%

Bitcoin rose to $121.6K.Around the watercoolerAir Force bid for Tesla Cybertrucks in target practice symbolizes the ‘evolving’ relationship between the Pentagon and Big , expert says by Sasha RogelbergThis unprecedented shift in unemployment suggests AI could strand white-collar knowledge workers in a jobless recovery after the next recession by Jason MaTop economist says it’s ‘panic season’ in and it’s your fault for taking summer vacation