National Economic Council Director Kevin Hassett lauds President Donald Trump’s State of the Union address on ‘Kudlow.’
The Labor Department’s latest jobs report showed that American workers’ wage gains are continuing to outpace stubbornly high inflation.
The Bureau of Labor Statistics released its jobs report for February Friday, which showed that workers’ average hourly earnings rose faster than expected last month.
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Employees on private nonfarm payrolls saw their average hourly earnings rise by 15 cents, or 0.4%, on a monthly basis to $37.32 an hour. That outpaced the expected increase of 0.3% that was projected by LSEG economists.
Average earnings rose 3.8% in February compared with a year ago, up from 3.7% in January. LSEG economists estimated that the annual increase in earnings would be unchanged at 3.7% in February.
Wages rose 3.8% on an annual basis in February, beating economists’ expectations of a 3.7% rise. (Bill Pugliano/Getty Images)
The BLS data also showed that the average workweek was unchanged at 34.3 hours, in line with the estimate of LSEG economists and unchanged from January. Among workers in the manufacturing sector, the average workweek declined slightly by 0.1 hour to 40.1 hours, while overtime was unchanged at three hours.
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The rising wages and relatively steady workweeks come as stubborn inflation has persisted above the Federal Reserve’s long-run target of 2%. The Fed’s preferred inflation gauge, the personal consumption expenditures (PCE) index, rose to 2.9% on an annual basis in December. Core PCE, which excludes volatile food and energy prices, was up 3% from a year ago in December.
A separate inflation gauge, the consumer price index (CPI), was up just 2.4% on a year-over-year basis in January and trended down after a 2.7% reading in December. Core CPI was up 2.5% from a year ago in January.
Inflation creates severe financial pressures for households, particularly those with lower incomes that are forced to pay relatively more for essentials.
Wage gains rising faster than inflation helps protect earners’ purchasing power by reducing the amount that’s eroded by inflation-induced price hikes, though that dynamic is limited by elevated inflation.
They can also signal competition among employers for qualified workers. The unemployment rate was little changed in February, rising from 4.3% to 4.4% from the prior month.
“Jobs in the private sector, along with ongoing reductions in federal government staffing, led to lower payroll employment in February. But the unemployment rate remains low because of the southern border shutdown. That is why wage growth remains healthy with a 3.8% rise,” said Lawrence Yun, chief economist at the National Association of Realtors.
Pressure in the labor market has contributed to the higher wage growth. (Joe Raedle/Getty Images)
Andy Bregenzer, head of U.S. regional and small business banking and co-head of commercial bank at TD, said it was “disappointing to see January’s hiring momentum come into question with February’s slowdown” and emphasized that small businesses need to stay disciplined in this economic environment.
“What we continue to hear from small business owners is that while hiring pressure may ease modestly if jobs growth slows, wages and competition for skilled workers remain elevated. This is the environment where small business owners need to stay disciplined and balance growth plans with careful cost management.”
Gregory Daco, chief economist at EY-Parthenon, noted that wage dynamics were “firmer than expected” and said the 3.8% annual wage growth underscored that “labor cost pressures remain sticky even as job growth falters.”
He cautioned that “forward-looking indicators point to continued moderation in wage growth going forward, with the private sector quits rate remaining near its lowest level since early 2016 outside of a recession, and business surveys continue to signal restraint in compensation plans.”
Daco said that given the expectation of subdued labor demand, his firm’s outlook sees wage growth easing toward 3.5% in the second half of 2026.
Raia Drogasil S.A. (RADLY) Q4 2025 Earnings Call March 4, 2026 8:00 AM EST
Company Participants
Renato Raduan – CEO & Member of Executive Board Flavio de Correia – Director of Investor Relations & Corporate Affairs
Conference Call Participants
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Luiz Guanais – Banco BTG Pactual S.A., Research Division Mauricio Cepeda – Morgan Stanley, Research Division Danniela Eiger – XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A., Research Division Joseph Giordano – JPMorgan Chase & Co, Research Division Irma Sgarz – Goldman Sachs Group, Inc., Research Division Tales Granello – J. Safra Corretora de Valores e Cambio Ltda, Research Division Leandro Bastos – Citigroup Inc., Research Division Rodrigo Gastim – Itaú Corretora de Valores S.A., Research Division Lucca Biasi – UBS Investment Bank, Research Division Gustavo Fratini – BofA Securities, Research Division
Presentation
Operator
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Hello, everyone. Thank you for standing by, and welcome to RD Saúde’s Fourth Quarter 2025 Earnings Conference Call. This presentation can be found on RD Saúde’s Investor Relations website at ri.rdsaude.com.br, where the replay for this conference will also be made available later. [Operator Instructions] Before proceeding, I’d like to mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of RD Saúde’s management and on information currently available to the company.
Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions as they relate to future events and therefore, depend on circumstances that may or may not occur. Our investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of RD Saúde and could cause results to differ materially from those expressed in such forward-looking statements. Today, joining us from the RD Saúde’s studio are Mr. Renato Raduan, CEO; and Mr. Flavio Correia, CIO and Corporate Affairs, Chief Officer.
Microsoft co-founder Bill Gates finds himself at the intersection of philanthropy, energy innovation and renewed scrutiny in early March 2026, as a House committee seeks his testimony on ties to Jeffrey Epstein and federal regulators approve construction for his TerraPower nuclear reactor in Wyoming.
American billionaire Bill Gates is the co-founder of TerraPower
The House Oversight and Government Reform Committee, led by Chairman James Comer (R-Ky.), sent a letter March 3 requesting Gates appear for a transcribed interview on May 19 regarding the federal investigation into Epstein and Ghislaine Maxwell, Epstein’s death and sex-trafficking networks. The panel cited public reporting, Justice Department documents and committee-obtained materials suggesting Gates has relevant information.
Gates’ spokesperson indicated he plans to cooperate. “Gates welcomes the opportunity to appear before the Committee,” the statement said. Gates has repeatedly denied involvement in Epstein’s crimes, expressing regret over their association in past interviews and a foundation town hall.
The request names Gates alongside six others — including Goldman Sachs’ Kathryn Ruemmler, Apollo’s Leon Black and others — for interviews between April and June. The probe examines alleged mismanagement in Epstein-related investigations and broader trafficking issues. Gates’ name surfaced in Epstein correspondence released by the DOJ in recent years, though no criminal allegations have been made against him.
Amid this, Gates’ energy ventures advanced significantly. On March 4, the U.S. Nuclear Regulatory Commission issued its first commercial reactor construction permit in nearly a decade to TerraPower, the company Gates founded and primarily funds. The sodium-cooled Natrium reactor in Kemmerer, Wyoming, targets 345 megawatts and aims for operation in the early 2030s, with construction starting soon and an operating license application planned for late 2027 or early 2028.
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TerraPower touts the plant — estimated at up to $4 billion — as a breakthrough using high-assay low-enriched uranium fuel for safer, more efficient power. Gates has positioned nuclear as essential for AI data centers’ massive energy needs and climate goals. “This will revolutionize how power is generated,” he has said, emphasizing next-generation designs to support clean, reliable baseload energy.
The approval marks progress in Gates’ Breakthrough Energy efforts, launched a decade ago to scale clean tech. In his January 2026 annual letter “Optimism with Footnotes,” Gates warned global progress risks stalling without sustained innovation and aid, urging investments despite setbacks like foreign aid cuts.
The Gates Foundation’s 2026 agenda accelerates toward a 2045 closure, committing $200 billion total over the next 20 years — including a record $9 billion payout this year — to eradicate diseases like polio, malaria and tuberculosis while advancing AI in health and climate adaptation. CEO Mark Suzman highlighted three goals: saving lives, reducing inequities and building resilient systems.
Gates expressed cautious optimism in the letter, noting reversals in global health but predicting a “new era of unprecedented progress” within a decade if innovation pipelines hold. He stressed AI’s role in education, agriculture and healthcare, including partnerships like Horizon 1000 with OpenAI for African clinics.
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Philanthropically, Gates continues divesting personal wealth to the foundation, focusing on high-impact areas. His portfolio through the foundation trust includes major stakes in Waste Management, Berkshire Hathaway and others, though specific March updates remain limited.
The dual headlines — congressional summons and nuclear milestone — underscore Gates’ enduring influence and controversies. At 70, he balances climate advocacy, health philanthropy and public accountability.
As TerraPower breaks ground and the Oversight probe unfolds, Gates’ actions in 2026 could shape energy transitions and public trust in billionaire philanthropists.
Treasury Secretary Scott Bessent discusses the United States’ new $20 billion maritime reinsurance plan, conflict in Iran and more on ‘Kudlow.’
Treasury Secretary Scott Bessent said Iranians are fighting on two fronts while warning when the nation will endure its next intense military operation from U.S. forces on “Kudlow” Friday.
“Tonight will be our biggest bombing campaign, and we’ll do the most damage to the Iranian missile launchers, the factories that build the missiles, and we are substantially degrading them,” Bessent told FOX Business host Larry Kudlow Friday.
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After failing on the military front after what Bessent described as the United States’ “overwhelming” strike campaign, Iran has been forced to play another card, the economy.
Smoke rises over the city center after the Israeli army launched a second wave of airstrikes on Iran Feb. 28, 2026. (Fatemeh Bahrami/Anadolu via Getty Images / Getty Images)
“Having not been able to succeed there [militarily], they’re trying to create economic chaos, and I don’t think they’re going to be able to do it,” he added.
This comes as the Trump administration bolsters insurance for U.S. vessels traveling through the Strait of Hormuz, a vital oil transit choke point primarily controlled by Iran.
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About 20% of the world’s crude oil and natural gas passes through the critical waterway, and Bessent said its closure could roil energy markets.
“When the conflict began, [insurers] dropped all the insurance for any vessels going in and out of the Strait of Hormuz or generally around the Gulf,” Bessent explained.
In an effort to restore confidence in maritime trade during the conflict in Iran, the International Development Finance Corporation (DFC) announced Wednesday it will provide up to $20 billion in insurance to vessels traveling through the strait.
A navy vessel sails in the Strait of Hormuz, a vital waterway through which much of the world’s oil and gas passes, March 1, 2026. (Sahar Al Attar/AFP via Getty Images / Getty Images)
“What this program will do is give shippers insurance, whether they are hauling oil, products, fertilizer,” Bessent shared.
Iran asserts that the Strait of Hormuz is open but says it will not allow ships through that are linked to Israeli or U.S. interests, the Treasury secretary explained.
Bessent went on to discuss whether U.S. vessels will need protection when crossing through the Iranian-controlled waterway as tensions intensify between the nations.
Oil tanker at a port in the Strait of Hormuz (Giuseppe Cacace/AFP via Getty Images / Getty Images)
“There is the willingness to go through the strait if we also provide a naval escort if needed,” he told FOX Business.
Bessent noted that Iranian and Chinese vessels have been seen successfully passing through during the conflict and vowed to solve the issue.
“We will await to hear from CENTCOM in terms of when they think safe passage is possible,” he said. “I don’t know whether it’s a week or two weeks, but we are on track to get this solved.”
The Dow was the clear laggard among the major indexes on Thursday.
The blue-chip index fell 1,000 points, or 2.1%, while the S&P 500 was down 1.3%. The Nasdaq Composite was down 1.2%.
The Dow is on pace for its worst day since April of last year. With its latest drop, it’s also down 0.7% on the year. The index hasn’t finished a day negative on a year-to-date basis so far in 2026, according to Dow Jones Market Data.
Meta CEO Mark Zuckerberg acknowledged in a taped deposition played during a high-stakes child safety trial that criminal activity, including harms to children, is an unavoidable reality on platforms serving billions of users like Facebook and Instagram.
AFP
The comments, revealed March 4-5, 2026, in a New Mexico courtroom, came as prosecutors played excerpts from Zuckerberg’s pretrial deposition to support allegations that Meta violated state consumer protection laws by failing to adequately disclose or mitigate risks of child sexual exploitation and mental health damage on its services.
“I just think if you’re serving billions of people, the unfortunate reality is that some very small percent of them are going to be criminals, and we should work as hard as we can to stop that activity from happening,” Zuckerberg said in the deposition. “I don’t think that the standard for our platforms would be that you should assume that it will ever be perfect.”
The statement drew sharp reactions from critics and child safety advocates, who argue Meta prioritizes engagement and profits over robust protections. Zuckerberg’s words were part of broader testimony addressing Meta’s efforts — or perceived shortcomings — in combating predatory behavior, underage access and harmful content.
The ongoing bellwether trial, brought by New Mexico Attorney General Raúl Torrez, accuses Meta of knowingly allowing dangerous conditions to persist on Facebook, Instagram and related apps. Prosecutors presented internal documents and executive statements claiming the company downplayed known risks to maintain user growth and advertising revenue.
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Instagram head Adam Mosseri echoed similar sentiments in his own deposition, played alongside Zuckerberg’s, noting the inevitability of some bad actors in vast online communities. Both emphasized Meta’s investments in safety tools, including AI detection, content moderation teams and billions spent annually on enforcement.
Zuckerberg defended the company’s approach, highlighting thousands of employees dedicated to trust and safety, proactive removals of violating content and partnerships with law enforcement. He stressed the challenge of balancing privacy features like end-to-end encryption — which limits direct message scanning — with safety needs. “Our job is to build products that balance these things in appropriate ways,” he said. “Safety is obviously extremely important. People also care a lot about privacy and security, too.”
The trial builds on years of scrutiny over Meta’s handling of youth safety. It follows Zuckerberg’s February 2026 testimony in a separate Los Angeles addiction lawsuit, where he faced questions on algorithmic design and underage verification. In that case, he admitted improvements in detecting children under 13 but wished the company had acted sooner.
New Mexico’s suit focuses on consumer protection violations, alleging Meta misrepresented platform safety to users and parents. Prosecutors pointed to cases of sexual exploitation facilitated through the apps, including grooming and sextortion schemes targeting minors. They argue Meta’s scale amplifies these issues, with harms like depression, anxiety and suicide linked to exposure.
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Meta counters that it discloses risks, removes harmful content aggressively and cannot eliminate every violation in open platforms. Company lawyers note adversarial actors constantly evade systems, but Meta continually upgrades defenses.
The case has spotlighted broader industry challenges. Social media giants face mounting lawsuits and regulatory pressure over youth mental health and exploitation. Section 230 protections shield platforms from liability for user content, but states like New Mexico seek to hold companies accountable for design choices and disclosures.
Public reaction to Zuckerberg’s remarks has been swift and critical. Advocacy groups called the statement an admission of defeat on child protection, urging stronger federal legislation. On social media, users debated whether billions of users inherently doom platforms to host crime or if better tools could minimize it further.
Zuckerberg has long maintained that perfection is unattainable but progress is ongoing. In past congressional hearings, he apologized to families affected by platform harms and pledged reforms.
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As the New Mexico trial continues, depositions from other executives like former policy head Nick Clegg reinforced that harmful content damages business interests — bad for ads and brand trust. Clegg noted advertisers avoid proximity to toxic material.
The outcome could influence hundreds of similar suits nationwide, potentially reshaping how platforms approach safety, moderation and transparency. For Meta, the case tests the limits of scale: serving billions inevitably includes risks, but critics say Zuckerberg’s words underscore insufficient urgency in addressing them.
With testimony ongoing and more internal records expected, the trial highlights enduring tensions between innovation, privacy, safety and corporate responsibility in the social media era.
Shares of Airbnb Inc. (NASDAQ: ABNB) declined about 2% in midday trading Friday, March 6, 2026, falling to around $132.93-$133 from Thursday’s close near $135.85, reflecting a modest pullback after recent gains tied to robust fourth-quarter results and upbeat guidance for accelerated growth in 2026.
Pixabay
The San Francisco-based home-sharing platform opened near $133.89 and traded in a range from lows around $130.98 to highs of $133.90-$134.52, with volume approaching 1-5 million shares by mid-morning. The dip comes amid broader market caution from geopolitical tensions and rising energy costs, though Airbnb’s fundamentals remain solid following its February earnings report.
Airbnb released fourth-quarter and full-year 2025 results on February 12, 2026, posting revenue of $2.78 billion — up 12% year-over-year and beating analyst expectations by about 2.3%. Gross booking value surged 16% to $20.4 billion, while nights and experiences booked grew 10%, marking the strongest quarterly growth in over two years despite tough comparisons.
Adjusted EBITDA reached $786 million, delivering a 28% margin, and the company achieved positive net income. Earnings per share came in at $0.56 (adjusted figures varied), slightly missing some estimates of $0.65-$0.67, but the top-line beat and strong bookings overshadowed the miss.
CEO Brian Chesky highlighted momentum from product innovations like flexible payment options, eco-tourism focus and expansions into new markets such as Japan and India. “Healthy demand” across regions drove the acceleration, with gross bookings showing particular strength.
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Guidance fueled optimism: First-quarter 2026 revenue is projected at $2.59 billion to $2.63 billion (14-16% growth), topping Wall Street’s $2.54 billion consensus. For the full year, Airbnb anticipates at least low double-digit revenue growth — aligning with or exceeding analyst views of around 10%. Management emphasized scalable profitability, with forecasts pointing to operating income nearing $3 billion in 2026.
The results sparked a rally, with shares rising as much as 17.5% in the weeks following the report before recent softening. Analysts responded positively: Mizuho raised its price target to $175 from $156 in early March, citing sustained demand and innovation. Consensus targets hover around $144-$149, implying 8-12% upside from current levels, with highs up to $200 and lows near $107. Ratings lean Buy, with 34-50 analysts tracking the stock.
Airbnb’s market capitalization stands around $80-82 billion. The stock trades at a forward P/E in the mid-20s, reasonable for a growth-oriented travel tech name with expanding margins. Year-to-date in 2026, performance has been mixed but positive overall, with shares up roughly 10-15% from January lows near $100, though down from February highs near $144.
The company continues investing in AI for personalized recommendations, dynamic pricing and host tools, alongside expansions like Airbnb Experiences and co-hosting features. Challenges include regulatory pressures in some cities, competition from hotels and short-term rental platforms, and macro sensitivity to consumer spending amid inflation.
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Despite headwinds, Airbnb’s asset-light model — no property ownership — supports high margins and cash flow. Free cash flow remains strong, funding share repurchases and growth initiatives without debt reliance.
Analysts see 2026 as pivotal for Airbnb, with gross bookings momentum, user growth and profitability scaling key watchpoints. Expansion into emerging markets and AI-driven efficiencies could drive faster-than-expected gains.
As trading continues, the modest decline appears technical rather than fundamental. With earnings next expected in late April 2026, investors eye sustained demand signals amid travel recovery and economic uncertainty.
Airbnb’s blend of network effects, brand strength and innovation positions it well in the evolving travel landscape, though near-term volatility persists.
