Today’s Big Story

The End of Kodak?

The 133-year-old camera brand says it might have to cease operations

No one is safe when it comes to business, right? Even an iconic camera and film brand. Of course, Kodak’s existence has been tumultuous basically since the dawn of the iPhone. The company filed for Chapter 11 bankruptcy in 2012. And then in late 2024, it temporarily paused film production, but that was for factory upgrades that would help it keep up with an increased demand.

Despite developing many of the key technologies that go into today's digital cameras, Kodak has had trouble adjusting to the new era of photography, holding on to bloated and money-losing divisions much longer than it should have. During the time of its bankruptcy filing, the company has already closed more than a dozen manufacturing plants, 130 processing labs, and reduced its workforce by 47,000. With more than 100,000 creditors, the company’s debts totaled around $6.75 billion.

And now, the end could finally be near for the 133-year-old company. In an earnings report this week, Kodak warned investors it doesn’t have the financing needed to pay around $500 million in upcoming debt obligations, and raised doubts about its ability to continue. According to CNN, Kodak aims to conjure up cash by ceasing payments for its retirement pension plan. It also said that it doesn’t expect tariffs to have “material impacts” on its business because it manufactures many of its products, including cameras, inks and film in the United States.

The warning is the latest development in the photography company’s storied history, which includes introducing one of the first consumer cameras in the 1880s and mass manufacturing film rolls for hobbyists and professionals alike. And while the legendary American company is famous for film, it has recently pursued different businesses, including specialty chemicals and commercial printing. The company continues to manufacture films and chemicals for businesses, including the movie industry, and it licenses its brand for a variety of consumer products.

However, the company swung from a $25 million profit a year ago to a $26 million net loss in its most recent quarter—and it burned $46 million in cash, leaving it with $155 million. Kodak’s chief financial officer David Bullwinkle said the company expects to “have a clear understanding” by Friday of how it will meet its debt obligations. So, I guess, time will tell what’s to come for Kodak.

Trump Meets Putin

The White House previously suggested that it could end the Ukraine war; now they’re calling it a “listening exercise”

Expectations in Russia are running high ahead of Friday’s planned summit between Russian leader Vladimir Putin and President Donald Trump at remote Joint Base Elmendorf-Richardson, a U.S. military installation in Anchorage, Alaska. Moscow sees an opening to reset relations—not just with Washington but the world as a whole. Putin aims to end international isolation, not establish peace.

And it seems the White House understand this. Trump and aides previously suggested that a deal to end the Ukraine war could be the outcome of this summit. But now they’re calling Friday’s meeting more of a “listening exercise.” According to the Washington Post, the newly lowered expectations came as Russia made significant battlefield gains in eastern Ukraine and appeared to be in little mood to offer concessions that might be necessary to achieve a durable halt in the fighting.

Trump’s relationship with the Russian leader has grown more complicated in his second term. Recently, Trump—eager to fulfill his promises of settling the war between Russia and Ukraine—has grown irritated by Putin’s unwillingness to de-escalate the conflict. But critics worry that the hastily planned conversation will play into the hands of Putin, a former K.G.B. agent known as a master manipulator.

U.S. National Debt Reaches a Record $37 trillion

The deficit grew to $291 billion in July, despite tariff revenue surge

The U.S. government’s gross national debt has surpassed $37 trillion, a record number that highlights the accelerating liabilities on America’s balance sheet and increased cost pressures on taxpayers. The update was announced in the latest Treasury Department report issued Tuesday which logs the nation’s daily finances.

Even before Congress passed President Trump’s major tax and domestic policy legislation, the federal government was on track to spend $1.9 trillion more this fiscal year than it collected in revenue, according to the nonpartisan Congressional Budget Office. According to Newsweek, America wasn’t estimated to surpass $37 trillion in debt until after fiscal year 2030.

When the government runs a deficit—that is, when it spends more in a year than it receives in revenue—it makes up the difference by borrowing. Wendy Edelberg, a senior fellow in Economic Studies at the Brookings Institution told the Associated Press that Congress has a major role in setting in motion spending and revenue policy and the result of the Republicans’ tax law “means that we’re going to borrow a lot over the course of 2026, we’re going to borrow a lot over the course of 2027, and it’s just going to keep going.”

The Return of the In-Person Job Interview

Companies are meeting applicants face-to-face to dodge the chatbots

If you're a knowledge worker on the job hunt, you might want to upgrade your interview wardrobe to include pants. Because you’re not likely to log-on for your next meeting. Artificial intelligence has taken over so much of the job search that employers are resorting to an old school move: the in-person job interview.

Virtual interviews had become the new normal in hiring in recent years, driven by the rise of remote work and companies’ desire to speed up hiring. Trouble is, more candidates are using AI tools to cheat by feeding them answers off screen, especially in technical interviews, recruiters say. In rarer cases, AI-enabled scammers are impersonating job seekers with the aim of stealing data or money once they are hired. (Can’t we have nice things?!)

In-person interviews eliminate these concerns. Google, Cisco and McKinsey have brought back face-to-face interviews during some part of recruiting and hiring, the Wall Street Journal reports. Recruitment firm Coda Search/Staffing in Dallas estimated that in-person interview requests among its clients have increased from 5% last year to 30% this year. And Axios points out that it’s a vicious cycle: While applicants are using AI to fine-tune resumes and write cover letters, many recruiters are using AI tools to filter through candidates. There’s no escaping it.

Your Body Needs Exfoliation

Your game plan for smoother, healthier skin

Let’s say nice things to ourselves today.