Former Secretary of State Hillary Clinton began her closed-door deposition Thursday before the Republican-led House Oversight Committee as part of a congressional investigation into the late financier and convicted sex offender Jeffrey Epstein, marking a high-profile moment in the ongoing probe into his network of influence and alleged crimes.
Former US president Bill Clinton
The testimony, held at the Chappaqua Performing Arts Center near the Clintons’ home in this quiet New York suburb, started around 11 a.m. EST. Former President Bill Clinton is scheduled to follow with his own deposition Friday at the same location. The back-to-back sessions come after months of negotiations and legal wrangling, with the couple agreeing to testify to avoid potential contempt-of-Congress charges following subpoenas from committee Chair James Comer, R-Ky.
Hillary Clinton shared an opening statement on X shortly before the session began, emphasizing her commitment to transparency while decrying the probe as politically motivated. “I have always cooperated with legitimate inquiries, and I will do so today,” she wrote. “But let’s be clear: This is a partisan exercise designed to distract from real issues facing Americans.”
The depositions represent a rare instance of a former president and first lady being compelled to testify under oath before Congress, with Bill Clinton’s appearance noted as the first time a former commander in chief has faced such scrutiny in this manner. The committee’s investigation, launched in early 2025 under the new Republican majority, focuses on the federal government’s handling of Epstein’s cases, potential ethics violations by public officials, and the roles of high-profile figures connected to the disgraced billionaire.
Epstein, who died by suicide in a Manhattan jail cell in 2019 while awaiting trial on sex-trafficking charges, had extensive ties to powerful individuals across politics, business and entertainment. Court documents unsealed in recent years, including flight logs from his private jet dubbed the “Lolita Express,” revealed Bill Clinton traveled on the plane multiple times between 2002 and 2003. The former president has acknowledged the flights but denied any knowledge of Epstein’s criminal activities, stating they were for philanthropic work related to his foundation.
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Hillary Clinton’s connections to Epstein appear more tangential, primarily through her husband’s associations and shared social circles. She has repeatedly distanced herself, noting in past statements that she never met Epstein personally. However, Republicans on the committee have pointed to emails and other records suggesting indirect links, including discussions about potential donations or events involving Epstein’s associates like Ghislaine Maxwell, Epstein’s convicted accomplice who is serving a 20-year sentence.
Committee spokesperson Charlotte McCullough said the depositions aim to “uncover the full extent of Epstein’s enablers and any failures in accountability.” Democrats, including ranking member Jamie Raskin, D-Md., have dismissed the probe as a “witch hunt” revived under the Trump administration to target political opponents. President Donald Trump’s recent comments on Truth Social amplified the partisan divide, calling the Clintons’ testimony “long overdue justice for Epstein’s victims.”
As Hillary Clinton’s session got underway Thursday, sources familiar with the proceedings, speaking on condition of anonymity because the deposition is closed to the public, indicated questions would likely center on her time as secretary of state from 2009 to 2013. Investigators may probe whether any State Department resources or decisions intersected with Epstein’s activities, including visa issues for his associates or intelligence reports on his operations. Ethics concerns could extend to post-administration dealings through the Clinton Foundation, which received donations from Epstein-linked entities in the early 2000s.
Experts anticipate a combative atmosphere, with Hillary Clinton’s legal team, including prominent attorney David Kendall, prepared to object to questions deemed irrelevant or privileged. “She’s a seasoned witness from Benghazi hearings and email probes,” said legal analyst Barbara McQuade, a former U.S. attorney. “Expect her to be direct but cautious, sticking to facts while challenging the premise of many questions.”
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Bill Clinton’s Friday deposition is expected to delve deeper into his personal interactions with Epstein. Flight records show at least 26 trips, including to Africa, Europe and Asia for foundation work. In a 2019 statement, Clinton said he cut ties with Epstein after his 2008 conviction in Florida for soliciting prostitution from a minor. However, newly released documents from Maxwell’s trial and Epstein’s estate have raised questions about continued contacts, including a 2011 dinner in New York.
What to expect from Bill Clinton’s testimony? Analysts predict intense scrutiny on specifics: Did he witness any illegal activity? Were there discussions about Epstein’s plea deal or leniency? Republicans may press on alleged “pay-to-play” schemes, while Democrats argue the focus distracts from broader systemic failures in prosecuting Epstein.
The probe has already featured depositions from other figures, including former Epstein employees and associates like Maxwell’s siblings. In January, the committee released interim findings criticizing the Justice Department’s 2008 non-prosecution agreement with Epstein as overly lenient, potentially influenced by his connections. Comer has vowed to pursue “all avenues,” including possible referrals for perjury if testimony contradicts records.
Public reaction has been polarized. Epstein victim advocates, such as attorney Lisa Bloom, welcomed the Clintons’ appearances. “Anyone with information should come forward,” Bloom said. “This isn’t about politics; it’s about justice for survivors.” Conversely, Clinton allies like former adviser Philippe Reines blasted the sessions as “theatrics,” noting the Clintons have cooperated with prior investigations, including the FBI’s Epstein probe.
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The timing aligns with broader political dynamics under the second Trump administration. With Trump back in the White House since January 2025, his Justice Department has reopened aspects of the Epstein case, including reviews of sealed grand jury materials. Trump’s attorney general has prioritized “draining the swamp,” a phrase echoing his 2016 campaign rhetoric against the Clintons.
Security around Chappaqua was heightened Thursday, with local police and Secret Service agents cordoning off the arts center. A small group of protesters gathered outside, some holding signs reading “Lock Them Up” — a chant from Trump’s 2016 rallies — while others supported the Clintons with messages like “End the Witch Hunt.”
Transcripts of the depositions are expected to be released in redacted form within weeks, potentially fueling further congressional hearings or media scrutiny. If inconsistencies emerge, they could lead to additional subpoenas or even criminal referrals, though legal experts doubt prosecution given the statute of limitations on many Epstein-related matters.
For the Clintons, now in their late 70s, the depositions cap a decade of legal battles, from Hillary’s 2016 email server investigation to Bill’s impeachment-era scandals. Both have largely retreated from public life, focusing on philanthropy and family, but this probe pulls them back into the spotlight.
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As the nation watches, the sessions underscore enduring questions about power, privilege and accountability in Epstein’s web. Whether they yield new revelations or reinforce partisan divides remains to be seen, but they signal the investigation is far from over.
Updates as of 11:30 a.m. EST: Sources indicate Hillary Clinton’s deposition is proceeding without major interruptions, with questions focusing initially on foundation finances. Bill Clinton’s team has not commented on preparations for Friday.
The House Oversight Committee plans a press briefing post-depositions, where Comer is expected to outline next steps. In the meantime, Epstein survivors continue advocating for a federal compensation fund, separate from the congressional probe.
This story will be updated as more details emerge.
Mumbai: The Securities and Exchange Board of India (Sebi) has asked mutual funds to use domestic stock exchange spot prices to value physical gold and silver held by exchange-traded funds.
The new rule will come into effect from April 1, 2026.
At present, fund houses use London Bullion Market Association prices to value physical gold and silver held by mutual fund schemes.
“…it was deliberated that polled spot prices published by recognised stock exchanges may be used for the valuation of gold and silver held by mutual fund schemes. As stock exchanges are subject to transparency and compliance requirements under the regulatory framework, using the spot price published by such regulated entities shall lead to a valuation reflective of domestic market conditions and also ensure uniformity in the valuation practices,” Sebi said in a circular on Thursday.
NVIDIA Corp. shares edged higher in pre-market trading Thursday after the AI chip leader reported blockbuster fiscal fourth-quarter results that topped Wall Street expectations, though investor enthusiasm remained tempered amid ongoing questions about the sustainability of the artificial intelligence boom.
NVIDIA (NASDAQ: NVDA) closed at $195.56 on Wednesday, up $2.71 or 1.41%, with after-hours and pre-market activity pushing it toward $197. Pre-market quotes showed gains of around 0.7% to 1% as of early Thursday. The stock has traded in a 52-week range of $86.62 to $212.19, reflecting volatility tied to AI hype and periodic pullbacks.
NVIDIA AFP
The company’s fiscal fourth quarter, ended Jan. 25, 2026, delivered record revenue of $68.1 billion, a 73% surge from the same period a year earlier and a 20% increase sequentially. Analysts had anticipated around $66 billion, according to consensus estimates from LSEG and other sources. Adjusted earnings per share came in at $1.62, beating expectations of $1.53.
Data Center revenue, the powerhouse segment fueled by demand for GPUs in AI training and inference, reached a record $62.3 billion — up 75% year over year and 22% from the prior quarter. The segment accounted for the vast majority of total sales, underscoring NVIDIA’s dominance in the AI infrastructure market.
For the full fiscal 2026 year, NVIDIA posted revenue of $215.9 billion, a 65% jump from the previous year. GAAP net income for the year hit $120.1 billion, with diluted EPS of $4.90.
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CEO Jensen Huang highlighted accelerating adoption of AI technologies, including agentic systems and reasoning models. In prepared remarks, he noted that “compute and revenues are equated” as customers race to build out AI capabilities. Huang emphasized broadening ecosystems and “skyrocketing” demand for advanced AI agents.
The company issued optimistic guidance for the current quarter (fiscal first quarter 2027), projecting revenue of $78 billion, plus or minus 2%. That figure comfortably exceeded analyst models, which had hovered around $66 billion to $72 billion in some forecasts. Gross margins remained robust, with non-GAAP at 75.2%.
Despite the beats on both top and bottom lines, and the raised outlook, NVIDIA shares showed only modest movement in extended trading. Analysts pointed to a “show-me-more” sentiment among investors accustomed to outsized beats in recent quarters. Concerns linger over potential competition from rivals like AMD and Intel, customer concentration risks — particularly with major cloud providers — and questions about whether AI capital spending will moderate after years of explosive growth.
Some market watchers described the reaction as muted, with the stock failing to rally sharply despite the strong numbers. One CNBC report noted that “investor concerns around the AI infrastructure boom dampened enthusiasm” for the results.
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NVIDIA’s trajectory has made it one of the world’s most valuable companies, with a market capitalization approaching or exceeding $4.8 trillion in recent sessions. The stock has more than doubled in value over the past year in some periods, though it has pulled back from October 2025 highs amid broader tech sector rotation and valuation debates.
The earnings release comes as Big Tech continues pouring billions into AI data centers. NVIDIA’s GPUs remain the go-to hardware for training large language models and running inference at scale. Supply chain commitments rose significantly, with the company noting strategic inventory secures to meet demand “beyond the next several quarters.”
Huang and CFO Colette Kress addressed ecosystem expansion during the earnings call, pointing to partnerships and software advancements that extend beyond raw chip sales. They also touched on limited H200 shipments to China amid export restrictions, though no meaningful revenue impact was reported yet.
Wall Street remains broadly bullish on NVIDIA’s long-term prospects, with many analysts maintaining buy ratings and high price targets. However, the bar is extraordinarily high after multiple quarters of dramatic outperformance.
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As AI adoption spreads from hyperscalers to enterprises and edge applications, NVIDIA is positioning itself at the center. Whether the current quarter’s $78 billion forecast materializes will be a key test of whether the AI spending cycle has further legs.
Mumbai: Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Financial Services, announced the first close of its maiden private credit fund, at ₹1,700 crore. The fund-India Credit Excellence Fund-I-launched in January, is targeting a total corpus of ₹3,000 crore including a green shoe option.
The fund will focus on secured lending and bespoke customised solutions targeting mid-market businesses that are profitable, growing and fundamentally creditworthy, yet unable to access capital at the right tenor and structure from banks or capital markets, it said.
“The platform’s entry into this asset class is a natural extension of its existing capabilities. Our strategy spans senior secured lending across growth capital and dislocated credit situations, with the ability to opportunistically participate in equity upside,” said Rakshat Kapoor, head and chief investment officer, private credit, Motilal Oswal Alternates. The company estimates the addressable private credit market would surpass ₹10 lakh crore over the next few years, he said.
Netflix co-CEO Ted Sarandos responds to criticisms over the streaming service’s proposed acquisition of Warner Bros. Discovery on ‘The Claman Countdown.’
Netflix dropped its bid to buy Warner Bros. after the studio announced Paramount’s latest bid to buy the entire company was “superior.”
“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a statement.
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They continued, “Warner Bros. is a world-class organization, and we want to thank David Zaslav, Gunnar Wiedenfels, Bruce Campbell, Brad Singer and the WBD Board for running a fair and rigorous process. We believe we would have been strong stewards of Warner Bros.’ iconic brands, and that our deal would have strengthened the entertainment industry and preserved and created more production jobs in the U.S. But this transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price.”
Warner Bros. Discovery CEO David Zaslav said “we are excited about the potential of a combined Paramount Skydance and Warner Bros. Discovery and can’t wait to get started working together telling the stories that move the world.”
Warner Bros. Discovery announced Thursday that Paramount’s bid to take over the company is “superior” to the Netflix deal. (Mario Tama/Getty Images / Getty Images)
Earlier in the day, Warner Bros. Discovery said Paramount’s latest offer was “superior.”
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“Warner Bros. Discovery, Inc. today announced that its Board of Directors, following consultation with its independent financial and legal advisors, has determined that the previously disclosed proposal from Paramount Skydance Corporation constitutes a ‘Company Superior Proposal’ as defined in WBD’s merger agreement with Netflix, Inc.” the company said in a press release.
Paramount’s revised offer raises WBD’s value to $31.00 per share, putting the company’s evaluation at $111 billion. Paramount would additionally pay the $2.8 billion termination fee that would go to Netflix if WBD backs out of their deal.
“We are pleased WBD’s Board has unanimously affirmed the superior value of our offer, which delivers to WBD shareholders superior value, certainty and speed to closing,” Paramount CEO David Ellison said in a statement.
Ellison’s billionaire father Larry Ellison is personally backing Paramount’s bid committing $45.7 billion in equity through the Ellison Trust while Bank of America Merrill Lynch, Citi and Apollo will provide a $57.5 billion debt commitment.
Netflix declined to raise its bid for Warner Bros., clearing the path for Paamount to take over. (Nikos Pekiaridis/NurPhoto via Getty Images / Getty Images)
In December, Warner Bros. announced it had reached a deal with Netflix to buy the Hollywood studio and HBO for $83 billion, prompting Paramount to launch a $108 billion hostile takeover bid for the entire company, including all of its cable assets like CNN, which would have been spun off into a separate company under the Netflix deal.
Paramount CEO David Ellison’s takeover of Warner Bros. Discovery will follow his own $8 billion acquisition of Paramount last year. (Charly Triballeau/AFP via Getty Images / Getty Images)
Both the Paramount and Netflix bids for Warner Bros. had sparked panic across the entertainment industry.
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Critics of the Paramount bid fear putting two legacy studios under one company would lead to mass layoffs and worry about Ellison taking over CNN, while critics of Netflix are concerned about the streaming giant’s growing influence and whether it will commit to theatrical windows for film releases in support of movie theaters.
Former U.S. Secretary of Commerce Wilbur Ross joins Making Money to discuss the Supreme Court ruling regarding Trumps tariffs and their implications.
FedEx announced Thursday that it will return any tariff refunds it may receive to its customers who paid them as it seeks compensation from the federal government for tariffs paid that were subsequently ruled illegal.
The shipping giant said in a statement that it intends to return any tariff refunds to shippers and customers who bore the cost of the tariffs. The move follows the Supreme Court’s ruling last week that a key portion of President Donald Trump’s trade agenda – his tariffs imposed under the International Emergency Economic Powers Act (IEEPA) – was struck down as illegal.
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“We remain focused on supporting our customers as they adapt to the latest regulatory changes and have taken a procedural step to preserve our right to refunds for IEEPA tariffs on behalf of our customers and FedEx,” the company said.
“Our intent is straightforward: if refunds are issued to FedEx, we will issue refunds to the shippers and consumers who originally bore those charges. When that will happen and the exact process for requesting and issuing refunds will depend in part on future guidance from the government and the court,” FedEx’s statement continued.
FedEx said that it will return any tariff refunds it receives to the shippers and customers who paid them. (Kevin Carter)
“We are committed to transparency and will communicate clearly as additional direction becomes available from the U.S. government and the court,” FedEx added while directing customers to a tariff-related webpage on the company’s site that will host the latest information on the topic.
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The Supreme Court struck down the IEEPA tariffs after finding that the law cited by Trump in implementing the import taxes didn’t authorize the president to impose tariffs, which meant the levies were unconstitutional.
The ruling didn’t affect tariffs imposed by the Trump administration that used other legal authorities. The White House has signaled it aims to implement other tariffs to offset the IEEPA tariff revenue, and Treasury Secretary Scott Bessent said last month that the Treasury Department had the funds necessary for potential tariff refunds – though he said that may be a time-consuming process.
Tariffs are taxes on imported goods that are paid by the importer, who typically passes the higher costs on to consumers through higher prices. (Brandon Bell/Getty Images)
While the IEEPA tariffs were in effect, the federal government collected more than $150 billion under those authorities before they were struck down – revenue that could now be subject to tariff refunds, according to a range of estimates.
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The nonpartisan Tax Foundation put the figure at about $150 billion in IEEPA tariffs collected, while the nonpartisan Penn-Wharton Budget Model’s estimate was $175 billion and an analysis by JPMorgan suggested a range of $150 billion to $200 billion.
With the case remanded to lower courts following the Supreme Court’s ruling striking down the IEEPA tariffs, it’s possible that the courts and the government may reach an agreement on a format for providing refunds to tariff-payers.
However, there are currently avenues to pursue tariff refunds by filing suit in the U.S. Court of International Trade, which FedEx and more than 1,000 companies have done, and through appeals to U.S. Customs and Border Protection – which collects tariffs on behalf of the Department of Homeland Security and remits them to the Treasury Department.
President Trump’s IEEPA tariffs were struck down as unconstitutional by the Supreme Court. (Chip Somodevilla/Getty Images)
A recent study by the Federal Reserve Bank of New York found that U.S. businesses and consumers bore 86% of the tariff burden, while foreign exporters bore 14% as of November 2025.
The New York Fed’s researchers found that the share borne by U.S. businesses and consumers declined over the year from 94% in the January through August period to 92% in September and October.
Those findings are similar to those contained in another analysis by the nonpartisan Congressional Budget Office (CBO), which noted in its 10-year budget and economic outlook that foreign exporters were absorbing about 5% of the tariff costs with the remaining 95% falling on U.S. firms and consumers.
| Revenue of $397.45M (-12.95% Y/Y) beats by $3.14M
Service Properties Trust (SVC) Q4 2025 Earnings Call February 26, 2026 10:00 AM EST
Company Participants
Kevin Barry – Senior Director of Investor Relations Christopher Bilotto – President, CEO & Managing Trustee Jesse Abair – Vice President Brian Donley – CFO & Treasurer
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Conference Call Participants
Jackson Armstrong – Wells Fargo Securities, LLC, Research Division Tyler Batory – Oppenheimer & Co. Inc., Research Division John Massocca – B. Riley Securities, Inc., Research Division
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Presentation
Operator
Good morning, and welcome to the Service Properties Trust Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Kevin Barry, Senior Director of Investor Relations. Please go ahead.
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Kevin Barry Senior Director of Investor Relations
Good morning. Thank you for joining us today. With me on the call are Chris Bilotto, President and Chief Executive Officer; Jesse Abair, Vice President; and Brian Donley, Treasurer and Chief Financial Officer. In just a moment, they will provide details about our business and our performance for the fourth quarter of 2025, followed by a question-and-answer session with sell-side analysts.
I would like to note that the recording and retransmission of today’s conference call is prohibited without the prior written consent of the company.
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Also note that today’s conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based on SVC’s beliefs and expectations as of today, February 26, 2026, and actual results may differ materially from those that we project. The company undertakes no obligation to revise or publicly release the results of any revision to the forward-looking statements made in today’s conference call. Additional information concerning factors that could cause those differences is contained in our filings with the Securities and Exchange Commission, which can be
Intel Corp. shares gained ground Wednesday after the chipmaker announced a strategic collaboration with AI startup SambaNova Systems, bolstering its position in the fast-growing artificial intelligence market amid ongoing efforts to revitalize its foundry business and regain ground lost to rivals.
Intel (NASDAQ: INTC) closed at $46.88 on Feb. 25, up $0.76 or 1.65%, with high trading volume of over 75 million shares reflecting renewed investor interest. The stock has traded in a 52-week range of $17.67 to $54.60, recovering significantly from lows seen earlier in the period but still well below peaks from prior years. Pre-market activity on Feb. 26 showed minor fluctuations around $46.50 to $46.80.
The Intel logo is shown at E3
The latest momentum stems from Intel’s partnership with SambaNova, revealed Feb. 24. The deal includes Intel investing in SambaNova’s $350 million funding round led by Vista Equity Partners. SambaNova, known for its full-stack AI platforms optimized for large-scale inference and agentic AI, will collaborate with Intel on hardware and software integration. Reports indicated prior acquisition talks between the companies had faltered, leading to this partnership instead.
Analysts viewed the move positively as Intel seeks to expand beyond traditional PC and server chips into AI accelerators. SambaNova’s announcement highlighted its new chip as the “fastest for agentic AI,” with the Intel tie-up aimed at accelerating deployment in enterprise and cloud environments. The news helped lift Intel shares more than 5% intraday on Feb. 24 before settling with solid gains.
The partnership arrives as Intel continues implementing its turnaround strategy under new leadership. CEO Lip-Bu Tan, who took the helm in late 2025, has emphasized deepening AI capabilities, advancing foundry operations and improving execution across product lines.
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Intel’s most recent earnings, reported Jan. 22 for the fiscal fourth quarter ended Dec. 27, 2025, showed mixed results but beats on key metrics. Revenue came in at $13.7 billion, down 4% year over year but at the high end of company guidance and above Wall Street’s $13.4 billion consensus. Non-GAAP earnings per share were $0.15, surpassing expectations of $0.08. Non-GAAP gross margin improved to 37.9%, about 140 basis points ahead of forecasts.
Full-year 2025 revenue was $52.9 billion, essentially flat compared to the prior year when adjusted for the deconsolidation of Altera in Q3. GAAP results reflected a net loss, with full-year EPS at -$0.06 and Q4 at -$0.12, driven by restructuring costs, investments in manufacturing and competitive pressures.
Despite the top-line softness, executives highlighted demand strength in AI-powered PCs, traditional servers, networking and emerging ASIC designs for specialized workloads. Supply constraints limited growth in some areas, but the company expressed confidence in aligning its CPU, GPU and platform strategies to capitalize on AI proliferation.
Intel’s foundry ambitions remain central to its long-term narrative. Progress on advanced nodes like Intel 18A and upcoming 14A is viewed as critical for attracting external customers and reducing reliance on internal production. Challenges persist, including delays in process ramps and competition from Taiwan Semiconductor Manufacturing Co. and others. Recent reports noted concerns over potential risks to partners like Synopsys amid foundry uncertainties.
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Broader market dynamics continue influencing Intel’s trajectory. The company has lagged behind Nvidia’s explosive AI-driven growth and faced share erosion in PCs to AMD. However, optimism around AI PCs—where Intel targets half of new systems being AI-enabled—has provided a tailwind. The stock has climbed roughly 90% over the past 12 months in some calculations, reflecting hopes for sustained recovery.
Wall Street sentiment remains cautious but improving. Many analysts rate Intel as a hold, with price targets varying widely amid debates over execution risks and valuation. The company’s market capitalization hovers around $200 billion, a fraction of Nvidia’s but signaling renewed credibility.
Intel has also pursued geographic expansion, including commitments in India to support semiconductor and AI ambitions there. Executives have stressed long-term dedication to such markets.
Looking ahead, investors await updates on product roadmaps, including next-generation processors and foundry milestones. Any acceleration in AI adoption or positive developments in manufacturing yields could provide further upside. Conversely, prolonged supply issues or intensified competition could pressure shares.
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As the semiconductor industry evolves amid AI demand and geopolitical considerations, Intel’s ability to execute its multifaceted strategy will determine whether recent gains prove durable.
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