‘I am the house now’: Scott Bessent dares currency markets to move against him

Good morning. On Fortune’s radar today:

• Apple CEO John Ternus launches a foldable iPhone today.
• How rich you would be if you had bought Apple stock instead of an iPhone.
• Markets: Oil above $100 as Iran escalates conflict in the Gulf.
• Bessent: ‘I am the house now … You can bet against me if you want.’
• AI is hurting job creation.
• America’s $40 billion sandwich habit.
• The internet’s undersea ‘chokepoints’ mapped.
• Why bears increasingly want to get inside your car.

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This story was originally featured on Fortune.com