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The disparity between average annual pay increases for those staying in their jobs and for those leaving has all but collapsed. View More
A "Now Hiring" sign is seen at an AutoZone on Feb. 11, 2026 in Hollywood, Florida. Joe Raedle | Getty Images With the upheaval of the Covid pandemic came opportunity, as a shift in the labor market gave workers unprecedented opportunities for mobility and a chance to climb the pay scale.The "great resignation," as it came to be known, saw record numbers of employees quit in favor of better opportunities, as companies couldn't hire workers fast enough to fill the vacancies that the pandemic helped create. A record 4.5 million left their jobs for greener pastures in March 2022. But that is changing.The level of "quits" as measured by the Bureau of Labor Statistics has contracted by nearly one-third since hitting its peak in early 2022, a period during which job openings have nearly halved. One metric helps further tell the story: During the same period, the disparity between average annual pay increases for those staying in their jobs and for those leaving has all but collapsed, going from a peak of 8.4 percentage points in April 2022 to 1.9 percentage points in January. That's the lowest level since payrolls processing firm ADP began tracking the data in November 2020. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Call it the "big stay," or just another outgrowth of the low-hire, low-fire labor market, but it's a trend that has significance for workers. A pendulum swing "It's a very stable labor market. There's very little hiring, very little firing," said Nela Richardson, chief economist at ADP. "It's an outgrowth of the pandemic from where it was all hands on deck."A lack of labor supply and a pernicious skills gap was the story when the economy was trying to recover from the massive drawdown it had seen during the early Covid days. Workers and employers were adjusting to the new world of hybrid work, and companies were hungry for new recruits.As the "great resignation" peaked, there were more than two job openings per each worker the BLS classified as unemployed. That pendulum has swung back, however, and there are now more available workers than openings. watch nowVIDEO4:1204:12The labor market is 'essentially going sideways,' says Cantor Fitzgerald's Eric JohnstonSquawk on the Street Layoffs, though, remain low. Last week saw just 206,000 initial jobless claims, with the longer-term average at 219,000, about in line with historical norms for a healthy labor market. Though hiring has slowed considerably, the unemployment rate is just 4.3%. "If you were to parachute into this labor market in any time period of the United States, you'd be mostly happy with what you found," Richardson said. "The action is in the granular data."For instance, pay trends are peculiar to industries. In the high-turnover leisure and hospitality industry, pay gains are better for job stayers, with the disparity at 2.5% in stayers' favor, according to ADP. However, construction, which is struggling with labor supply during the U.S. crackdown on illegal immigration, has a 6.6 percentage point advantage for switchers. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); The incentives are still strong for switchers, with annual pay growth averaging 6.4% in January, well above the 4.5% for stayers, according to ADP data. But the gap is narrowing and could close further due to current labor market moves. A new reality The trends come with a fresh flock of workers combing the want ads for jobs.Searches were up 31% in January from December while job postings were little changed, according to Indeed Hiring Lab."The reality facing those seeking jobs in 2026 is that openings per unemployed person have declined, and hiring timelines are lengthening," Indeed experts Laura Ullrich and Sneha Puri wrote. "While some sectors continue to see elevated levels of postings, the macro environment remains in the low-hire, low-fire stagnation of 2025."Even with the low unemployment rate, Richardson said she is concerned with the "lack of dynamism in the labor market" as most hires are in the health-care industry and turnover is receding."The fact that it is low-hire, low-fire is actually not a great state to be in. The churn is important to the productivity growth," she said. "You want to see the most talented go to the places where that talent is the most rewarded. And if we are in this really stable period, that means that talent is not being repositioned to its best use."
The U.S. has launched a major military buildup in the Middle East is it threatens Iran with potential military strikes. View More
In this articleUSOXOMFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO3:0903:09Oil prices rise to six-month high as U.S.-Iran tensions growMoney Movers President Donald Trump said Thursday that he will decide whether to launch military strikes against Iran in the next 10 days. "So now we may have to take it a step further, or we may not," Trump said at the inaugural meeting of his Board of Peace. "Maybe we're going to make a deal. You're going to be finding out over the next probably 10 days."U.S. crude oil prices rose $1.24, or 1.9%, to close at $66.43 per barrel. Global benchmark Brent gained $1.31, or 1.86%, to settle at $71.66."It's proven to be over the years not easy to make a meaningful deal with Iran," the president said. "We have to make a meaningful deal, otherwise bad things happen."Oil prices have been moving higher this week on fears a U.S. attack on Iran is imminent. WTI is up more than 5% this week and nearly 16% so far this year.U.S. envoys Steve Witkoff and Jared Kushner held talks with Iran on its nuclear program in Geneva this week. Vice President JD Vance said Tuesday that Iran did not address red lines set by Trump during the talks. A major U.S. military buildup is underway in the Middle East. The USS Abraham Lincoln aircraft carrier is currently in the region. A second aircraft carrier, the USS Gerald Ford, is en route. White House Press Secretary Karoline Leavitt said Wednesday that are "many reasons and arguments that one could make for a strike against Iran." She said some progress was made during the talks in Geneva, but Iran and the U.S. are "still very far apart on some issues."Iran's Revolutionary Guard held military exercises in the Strait of Hormuz this week. The strait is a key chokepoint for the global oil trade. Oil traders are worried that a war between the U.S. and Iran could disrupt crude flows through the strait.
Makary helms the FDA in the midst of a contentious stretch for the agency, defined by massive staff and budget cuts and sweeping changes to vaccine policy. View More
U.S. Food and Drug Administration (FDA) Commissioner Marty Makary holds up a study from The Lancet during an announcement of the FDAâs intent to phase out the use of petroleum-based synthetic dyes in the nationâs food supply during a press conference at the Department of Health and Human Services in Washington, D.C., U.S., April 22, 2025. REUTERS/Elizabeth FrantzElizabeth Frantz | Reuters A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.This week, I had a chance to sit down with Food and Drug Administration Commissioner Dr. Marty Makary during a trip to Washington, D.C. Our conversation came in the midst of a contentious stretch for the FDA, defined by a leadership transition, massive staff and budget cuts and sweeping changes to vaccine policy and the agency's drug approval approach. Most recently, its back-and-forth on Moderna's flu shot has fueled industry concern about regulatory consistency. Here's what Makary had to say on some of the topics top of mind for the pharmaceutical industry. Watch my interview with Makary here. Mass compounded GLP-1s Makary said the FDA is "serious" about cracking down on unlawful, mass compounding of GLP-1s. This comes on the heels of the FDA announcing plans to take action against telehealth company Hims & Hers, which has been mass marketing compounded versions of Novo Nordisk's Wegovy pill and injections.  The FDA said it plans to restrict GLP-1 ingredients used in non-approved compounded drugs, citing concerns over quality, safety and potential violations of federal law.Makary said branded drug manufacturers go through the FDA process "properly" by conducting clinical trials that demonstrate the benefit of a product. The agency also regulates the marketing claims for those drugs, such as requiring that ads reflect side effects. But Makary said, "Sometimes, what we've seen are companies that are violating those regulations." The FDA is "directly talking to these companies and saying, you have to play by the rules," he added. When asked if 2026 could be the end of illegal mass compounding of GLP-1s, Makary said, "I hope so." The FDA is seeing more companies get their active pharmaceutical ingredients from Novo Nordisk and Eli Lilly, "and that system has a path of working." "If [Novo and Lilly] are providing APIs and the compounding meets the regulation, then the more competition, the better," he said. Moderna's flu shot application Notably, my conversation with Makary came one day before the FDA agreed to review Moderna's experimental mRNA flu shot, reversing the agency's earlier decision to refuse to accept the application. The FDA is now slated to decide whether to approve the flu shot on Aug. 5. Makary did not indicate that the agency would change its decision. Instead, he said the FDA's guidance to Moderna on its jab "was pretty clear.""I think the FDA individual guidance process, when the companies meet with the FDA scientists, is pretty strong, and that guidance is pretty clear on how they want the trials designed," he said.The agency recommended that the group of participants ages 65 and up in the study who didn't take Moderna's shot receive the "standard of care, not the substandard of care" as a comparison product, Makary said. The FDA's previous feedback expressed a preference for Moderna to use a higher-dose vaccine for older adults as a comparator in the trial.Moderna has disputed that reasoning, noting that FDA rules and guidance does not actually require trials to use the most advanced or highest-dose vaccine as a comparator in clinical studies. The company has also said it is inconsistent with the FDA's prior written communication about the trial design, even before the study began, where the agency said using the standard flu shot would be "acceptable."When asked about his stance on mRNA technology, Makary said he's "hopeful and optimistic" about the platform but would also "like to see the data." Health and Human Services Secretary Robert F. Kennedy Jr. and some of his supporters have criticized that technology as unsafe. "We're not going to get ahead of the game," he said. "We're going to basically say, we'd like to see the data, how far mRNA technology can be applied is a question where we'd love to see it applied, as far as it can be applied, but it's got to meet our scientific standards, so we'll see what it gets with cancer, with other infectious diseases. ..." China Makary also warned that the U.S. is falling behind China in early-stage drug development and called for reforms to streamline how new treatments enter clinical trials. China's biotech sector has expanded rapidly in recent years, fueled by heavy state investment, deep talent pools and faster regulatory timelines. U.S. policymakers have faced mounting pressure to boost domestic innovation rather than attempt to stymie it in China.  "We walked into a mess," Makary said, referring to the gap between the U.S. and China in phase one trials conducted in 2024. Makary pointed to three key bottlenecks: hospital contracting, ethics reviews and approvals, and the process for submitting Investigational New Drug (IND) applications that allow companies to begin human testing. He described the first two as "clunky processes that take too long and are leaving us non-competitive with the countries that are moving a lot faster." For the latter, he said the FDA has added too many questions to the application over the years. "They've never removed questions," he said. "If a question has had the same affirmative answer the last 10,000 out of 10,000 times, then why are we asking?"He said the FDA is "looking at everything," including potential partnerships with health systems and academic medical centers to speed up the pre-IND process.The Trump administration should "partner with industry to help them deliver more cures and meaningful treatments for the American public," Markary said, calling the effort a "bipartisan priority."Feel free to send any tips, suggestions, story ideas and data to Annika at a new email: annika.constantino@versantmedia.com.
Meta CEO Mark Zuckerberg took the stand in a closely watched social media and safety trial that could reshape the industry. View More
In this articleMETAFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO1:4101:41Mark Zuckerberg takes the stand in LA social media safety trialTechCheck Meta CEO Mark Zuckerberg said in Wednesday court testimony that he reached out to Apple CEO Tim Cook to discuss the "wellbeing of teens and kids."The comments came after defense lawyer Paul Schmidt pointed to an email exchange between Zuckerberg and Cook from February 2018. "I thought there were opportunities that our company and Apple could be doing and I wanted to talk to Tim about that," Zuckerberg said.The email exchange was part of a broader portrayal by the defense attorney to show jury members that Zuckerberg was more proactive about the safety of young Instagram users than what was previously presented to court by the opposing counsel, going so far as to reach out to a corporate rival."I care about the wellbeing of teens and kids who are using our services," Zuckerberg said when characterizing some of the content of the email.Zuckerberg testified during a landmark trial in Los Angeles Superior Court over the question of social media and safety, which is being likened to the industry's "Big Tobacco" moment.Part of the trial focused on the alleged harms of certain digital filters promoting cosmetic surgery, which Instagram chief Adam Mosseri previously testified about earlier in the trial.Zuckerberg said the company consulted with various stakeholders about the use of beauty filters on Instagram, but he did not specifically name them. The plaintiff's lawyer questioned Zuckerberg about messages showing he lifted the ban because it was "paternalistic.""It sounds like something I would say and something I feel," Zuckerberg replied. "It feels a little overbearing."Zuckerberg was pressed about the decision to allow the feature when the company had guidance from experts that the beauty filters had negative effects, particularly on young girls.He was specifically asked about one study by the University of Chicago in which 18 experts said that beauty filters as a feature cause harm to teenage girls.Zuckerberg, who noted that he believed this was referring to so-called cosmetic surgery filters, said he saw that feedback and discussed with the team, and it came down to free expression. "I genuinely want to err on the side of giving people the ability to express themselves," Zuckerberg said. Meta CEO Mark Zuckerberg arrives at Los Angeles Superior Court on Feb. 18, 2026.Jill Connelly | Getty Images Zuckerberg echoed Mosseri's previous sentiments shared in court that Meta ultimately decided to lift a temporary ban on the plastic surgery digital filters without promoting them to other users. Defense attorney Mark Lanier noted that Facebook's vice president of product design and responsible innovation, Margaret Stewart, said in an email that while she would support Zuckerberg's ultimate decision, she said she didn't believe it was the "right call given the risks." Stewart mentioned in her message that she dealt with a personal family situation that she acknowledged made her biased, but gives her "first-hand knowledge" of the alleged harms.Zuckerberg said that many Meta employees disagree with the company's decisions, which is something the company encourages, and while he understood Stewart's perspective, there was ultimately not enough causal evidence to support the assertion of harms by the outside experts.When Lanier asked if Zuckerberg has a college degree that would indicate expertise in causation, the Meta chief said, "I don't have a college degree in anything.""I agree I do not know the legal understanding of causation, but I think I have a pretty good idea of how statistics work," Zuckerberg said.The trial, which began in late January, centers on a young woman who alleged that she became addicted to social media and video streaming apps like Instagram and YouTube. The Facebook founder pushed back against the notion that the social media company made increasing time spent on Instagram a company goal.Zuckerberg was addressing a 2015 email thread in which he appeared to highlight improving engagement metrics as an urgent matter for the company.While the email chain may have contained the words "company goals," Zuckerberg said the comments could have been an aspiration, and asserted that Meta doesn't have those objectives.Lawyers later brought up evidence from Mosseri, which included goals to actively up user daily engagement time on the platform to 40 minutes in 2023 and to 46 minutes in 2026. Zuckerberg said the company uses milestones internally to measure against competitors and "deliver the results we want to see." He asserted that the company is building services to help people connect. Meta CEO Mark Zuckerberg arrives at Los Angeles Superior Court ahead of the social media trial tasked to determine whether social media giants deliberately designed their platforms to be addictive to children, in Los Angeles, Feb. 18, 2026.Frederic J. Brown | AFP | Getty Images Lawyers also raised questions over whether the company has taken adequate steps to remove underage users from its platform.Zuckerberg said during his testimony that some users lie about their age when signing up for Instagram, which requires users to be 13 or older. Lawyers also shared a document which stated that 4 million kids under 13 used the platform in the U.S. The Facebook founder said the company removes all underage users it identifies and includes terms about age usage during the sign-up process. "You expect a 9-year-old to read all of the fine print," a lawyer for the plaintiff questioned. "That's your basis for swearing under oath that children under 13 are not allowed?" Instagram did not begin requiring birthdays at sign-up until late 2019. At several times, Zuckerberg brought up his belief that age verification is better suited for companies like Apple and Google, which maintain mobile operating systems and app stores.Zuckerberg later responded to questions about documents in which the company reported a higher retention rate on its platform for users who join as tweens. He said that lawyers were "mischaracterizing" his words and that Meta doesn't always launch products in development such as an Instagram app for users under 13. Meta Platforms CEO Mark Zuckerberg testifies at a Los Angeles Superior Court trial in a key test case accusing Meta and Google's YouTube of harming kids' mental health through addictive platforms, in Los Angeles, California, U.S., Feb. 18, 2026 in a courtroom sketch. Mona Edwards | Reuters During Wednesday's session, Judge Carolyn B. Kuhl threatened to hold anyone using AI smart glasses during Zuckerberg's testimony in contempt of court. "If you have done that, you must delete that, or you will be held in contempt of the court," the judge said. "This is very serious."Members of the team escorting Zuckerberg into the building just before noon ET were pictured wearing the Meta Ray-Ban artificial intelligence glasses.Recording is not allowed in the courtroom.Lawyers also questioned whether Zuckerberg previously lied about the board's inability to fire him."If the board wants to fire me, I could elect a new board and reinstate myself," he said, in response to remarks he previously made on Joe Rogan's podcast.During his interview with the podcaster last year, Zuckerberg had said he wasn't worried about losing his job because he holds voting power.Zuckerberg told the courtroom he is "very bad" at media. Read more CNBC tech newsAmid Epstein fallout, Bill Gates becomes point of controversy at India AI summitOpenAI and Anthropic's rivalry on display as CEOs avoid holding hands at AI summitChinese tech companies progress 'remarkable,' OpenAI's Altman tells CNBCAnthropic is clashing with the Pentagon over AI use. Here's what each side wants Lawyers representing the plaintiff contend that Meta, YouTube, TikTok and Snap misled the public about the safety of their services and knew that the design of their apps and certain features caused mental health harms to young users. Snap and TikTok settled with the plaintiff involved in the case before the trial began.Meta has denied the allegations and a spokesperson told CNBC in a statement that "the question for the jury in Los Angeles is whether Instagram was a substantial factor in the plaintiff's mental health struggles."Last week, Instagram's Mosseri testified that while he thinks there can be problematic usage of social media, he doesn't believe that's the same as clinical addiction. Adam Mosseri, head of Instagram at Meta Platforms Inc., arrives at Los Angeles Superior Court in Los Angeles, California, US, on Wednesday, Feb. 11, 2026. Caroline Brehman | Bloomberg | Getty Images "So it's a personal thing, but yeah, I do think it's possible to use Instagram more than you feel good about," Mosseri said. "Too much is relative, it's personal."The Los Angeles trial is one of several major court cases taking place this year that experts have described as the social media industry's "Big Tobacco" moment because of the alleged harm caused by their products and the related company efforts to deceive the public. Parents of children who they allege suffered from detrimental effects of social media outside the courthouse in Los Angeles on Wednesday, Feb 18.Jonathan Vanian Meta is also involved in a major trial in New Mexico, in which the state's attorney general, Raúl Torrez, alleges that the social media giant failed to ensure that children and young users are safe from online predators."What we are really alleging is that Meta has created a dangerous product, a product that enables not only the targeting of children, but the exploitation of children in virtual spaces and in the real world," Torrez told CNBC's "Squawk Box" last week when opening arguments for the trial began.This summer, another social media trial is expected to begin in the Northern District of California. That trial also involves companies like Meta and YouTube and allegations that their respective apps contain flaws that foster detrimental mental health issues in young users.â CNBC's Jennifer Elias contributed reporting.WATCH: New Mexico AG Raul Torrez talks about his case against Meta watch nowVIDEO7:0807:08New Mexico AG Raul Torrez: Meta has created a space for predators to target and exploit childrenSquawk Box
Trump officials are turning up the pressure on colleges to ensure their students repay their federal student loans or risk losing their financial aid. View More
U.S. Education Secretary Linda McMahon speaks during a press briefing at the White House in Washington, D.C., U.S., November 20, 2025. Evelyn Hockstein | Reuters The Trump administration is ramping up pressure on colleges to ensure their graduates and other former students repay their federal student loans. The U.S. Department of Education issued guidance on Wednesday for higher education institutions, reminding them to institute practices to keep their students' delinquency and default rates low. The department said that doing so should be a priority not just for a college's financial aid office but also for its institutional leadership. There was also a warning in the announcement: Colleges with high student loan default rates could lose eligibility for federal student aid programs, the administration said.More than 1,800 higher education institutions have student loan nonpayment rates of 25% or higher, the Education Department said in its press release. The nonpayment rate was based on students who entered repayment on their Direct loans between January 2020 and May 2025 and were greater than 90 days delinquent. Read more CNBC personal finance coverageWhat a Supreme Court tariff ruling may mean for your moneyTrump officials warn hundreds of colleges with low student loan repayment ratesAs AI puts the squeeze on entry-level jobs, teens remain optimistic: reportTrump administration finds more borrowers eligible for student loan forgivenessMore used cars are for sale, but ones under $20,000 are 'harder to find': ExpertHow to claim Trump's 'no tax on overtime' deduction this seasonParents with student debt face deadline to secure affordable repayment, forgivenessSecure 2.0 let employers pair emergency savings and 401(k)s, but few have done soHome sellers start getting lower prices at 70, research shows â here's whyAverage IRS tax refund is up 10.9% so far this season, early filing data showsEarly estimates point to lower Social Security COLA for 2027Senators call for longer Social Security Fairness Act lump-sum payment timelineHere's the inflation breakdown for January 2026 â in one chartAverage tax refund is up 22%, Bessent says â what filers can expect this seasonK-shaped economy looks like 'jaws of a crocodile,' economist says: Here's whyHow EPA 'endangerment finding' repeal could impact your walletMedical emergencies can lead to debt and bankruptcy â even for insured AmericansCNBC's Financial Advisor 100: Best financial advisors, top firms ranked "Institutions cannot benefit from taxpayer dollars while ignoring the fact that a significant share of their students are not well-prepared to repay their loans," Undersecretary of Education Nicholas Kent said in a statement. More than 42 million Americans carry education debt, with the total outstanding debt exceeding $1.6 trillion, according to the Congressional Research Service. 'A half-baked effort to scapegoat schools' The notice to colleges comes as Trump officials grapple with a surge in student loan borrowers falling behind on their payments. Last year, the administration warned that 10 million borrowers were approaching default, which represents about a quarter of all federal student loan holders. The Education Department announced last year that it would begin collection activity against defaulted borrowers, but has repeatedly paused those enforcement efforts. Consumer advocates say the administration's policies and recent staff cuts have worsened the situation for borrowers. More than 600,000 federal student loan holders remain stuck in a backlog of applications for an affordable repayment plan, the Education Department disclosed in a recent court filing. More than 86,000 borrowers are waiting for a decision from the department on their student loan forgiveness. In March, the Trump administration terminated thousands of the Education Department's staffers, including many of the people who helped assist borrowers.Mike Pierce, co-founder and executive director of Protect Borrowers, said the proposal is "a half-baked effort to scapegoat schools," amid administration efforts that have undercut programs that help borrowers. He pointed to the elimination of several affordable repayment plans in President Donald Trump's One Big Beautiful Bill Act. The median U.S. household, with a family of four and an income of $81,000, could see its monthly bill surge to $440 from $36, due to the legislative changes, according to the Institute for College Access & Success, a nonprofit organization that promotes college affordability.
New York Gov. Hochul's proposal saw pushback from labor unions, transit workers and rideshare drivers. View More
In this articleGOOGLFollow your favorite stocksCREATE FREE ACCOUNT Waymo autonomous taxis turns onto Post Street in San Francisco, California, US, on Wednesday, Dec. 17, 2025. David Paul Morris | Bloomberg | Getty Images New York Gov. Kathy Hochul has pulled a proposal that would have allowed commercial robotaxi services, like Alphabet's Waymo, to start in some parts of the state, according to her office."Based on conversations with stakeholders, including the legislature, it was clear that the support was not there to advance this proposal," Sean Butler, a spokesperson for the governor, said in a statement.Hochul's reversal represents a blow to robotaxi operators like Waymo, which plans to expand its ride-hailing service to several new cities this year. A Waymo spokesperson told CNBC in a statement that it was "disappointed" by Hochul's decision. The decision will not affect Waymo's testing in New York City.In August, the company received its first permit from the New York Department of Transportation to start testing in the city, an approval made under New York City Mayor Zohran Mamdani's predecessor, Eric Adams. Waymo began testing a handful of AVs in Manhattan and downtown Brooklyn with human safety drivers on board under a permit that was extended through March. Hochul introduced the proposal during her State of the State address last month. It outlined plans to allow for limited deployment of commercial robotaxis in the state, notably outside of New York City, a huge potential source of rider demand. Companies interested in piloting their services would be required to submit applications that "demonstrate local support for AV deployment and adherence to the highest possible safety standards," Hochul said in her address. The proposal drew scrutiny from labor unions, rideshare drivers and transit workers, who raised concerns about safety risks and potential job losses from robotaxis entering the New York market. It also faced the prospect of pushback from Mamdani, who has been a staunch advocate for taxi drivers. Read more CNBC tech newsAmid Epstein fallout, Bill Gates becomes point of controversy at India AI summitOpenAI and Anthropic's rivalry on display as CEOs avoid holding hands at AI summitChinese tech companies progress 'remarkable,' OpenAI's Altman tells CNBCAnthropic is clashing with the Pentagon over AI use. Here's what each side wants Bhairavi Desai, executive director of the Taxi Workers Alliance, applauded Hochul's move and called it a "sensible decision." The group represents more than 28,000 yellow cab, Uber and Lyft drivers in New York City. "Waymo thinks by targeting Buffalo and Rochester it can divide and conquer our driver-led movement," Desai said in a statement. "But, once again, billionaire tech bosses underestimate workers at their own peril."Waymo plans to start its commercial driverless ride-hailing service in several new cities this year, including Dallas, Denver, Nashville, Orlando, and Washington D.C. It also plans to expand to London, its first international market. "We're committed to bringing our service to New York and will work with the State Legislature to advance this issue," the Waymo spokesperson said. "The path forward requires a collaborative approach that prioritizes transparency and public safety." The company currently offers 400,000 rides per week across its markets in the U.S., including the San Francisco Bay Area, Los Angeles, Phoenix, Austin, Atlanta, and Miami.Potential rivals, including Tesla and Amazon-owned Zoox, are testing their driverless systems in the U.S. but do not yet offer driverless ride-hailing services widely. Chinese robotaxi companies, such as Baidu-owned Apollo Go and WeRide, have been expanding abroad at a faster clip than Waymo.The Alphabet-owned company reported safety incidents involving its robotaxis in recent weeks, including one involving a minor.One of its driverless vehicles struck a child near an elementary school in Santa Monica, California, last month, triggering an investigation by the National Highway Traffic Safety Administration. In a separate incident last month in Los Angeles, a Waymo Ojai vehicle operated in manual mode by a human sped through a one-way residential street near Dodger Stadium. watch nowVIDEO8:3008:302025: The year that the robotaxi went mainstream with Waymo leading the packTech
It comes shortly after Vice President JD Vance accused Iran of failing to address core U.S. demands during nuclear talks in Geneva. View More
In this article@CL.1@LCO.1Follow your favorite stocksCREATE FREE ACCOUNT U.S. President Donald Trump disembarks Air Force One at Palm Beach International Airport in West Palm Beach, Florida, U.S., Feb. 13, 2026. Elizabeth Frantz | Reuters The Trump administration has warned it would be "very wise" for Iran to make a deal, amid reports the White House is considering fresh military action against Tehran as soon as this weekend. It comes shortly after Vice President JD Vance accused Iran of failing to address core U.S. demands during nuclear talks in Switzerland this week. Iran's foreign minister previously reported progress in the talks, saying the two countries had reached an understanding over the "guiding principles" for the negotiations.Speaking at a news briefing Wednesday, White House press secretary Karoline Leavitt said that there were "many reasons and arguments that one could make for a strike against Iran," noting that the two countries remain "very far apart" on some issues.U.S. President Donald Trump had a "very successful" operation last June, Leavitt said, when U.S. stealth bombers struck three Iranian nuclear facilities as part of "Operation Midnight Hammer." watch nowVIDEO6:1506:15Tracking U.S.-Iran tensions and the outlook for oil marketsSquawk Box Europe "The president has always been very clear though with respect to Iran or any country around the world, diplomacy is always his first option. And Iran would be very wise to make a deal with President Trump and this administration," Leavitt said. The White House has said it still hopes to reach a diplomatic resolution over Tehran's nuclear program, although U.S. media has reported that the military could be prepared to strike Iran as early as the weekend. 'Extremely dangerous' situation Both the U.S. and Iran have increased military activity in the oil-producing Middle East region in recent weeks.The U.S., for its part, has built up a significant presence of air and naval assets, while Iran has conducted military drills in the strategically vital Strait of Hormuz and announced joint naval drills with Russia in the Gulf of Oman, also known as the Sea of Oman.Laura James, Middle East senior analyst at Oxford Analytica, described the current situation as "extremely dangerous," with the U.S. and Iran "certainly closer" to an outright conflict than last week. watch nowVIDEO5:5805:58Never underestimate President Trump's ability to change his mind: AnalystAccess Middle East "The thing that is now a particular concern over the past 24 hours is the very rapid pace at which the United States is reinforcing its air power in the region. That, of course, can still be signaling and pressure for a particular diplomatic outcome," James told CNBC's "Access Middle East" on Thursday."But as more and more planes come in and more and more equipment comes in, that signaling gets more and more expensive. And therefore, the payoff you want for it in diplomatic terms has to be larger â and there is simply no sign Tehran can offer the absolute minimum that Washington is likely to demand," she added. Oil pricesEnergy market participants have been closely watching the outcome of the U.S.-Iran talks in Geneva, particularly as it relates to the Strait of Hormuz, a major international waterway that Iran partially closed on Tuesday citing "security precautions." Located in the gulf between Oman and Iran, the Strait of Hormuz is recognized as one of the world's most important oil choke points. Iranian military personnel take part in an exercise titled 'Smart Control of the Strait of Hormuz', launched by the Naval Forces of the Islamic Revolutionary Guard Corps, is being carried out in the Persian Gulf and the Strait of Hormuz on February 16, 2026.Anadolu | Anadolu | Getty Images About 13 million barrels per day of crude oil transited the Strait of Hormuz in 2025, accounting for roughly 31% of global seaborne crude flows, data provided by market intelligence firm Kpler showed. Oil prices were higher on Thursday, extending gains after settling up more than 4% in the previous session. International benchmark Brent crude futures with April delivery rose 1.5% to $71.41 per barrel, while U.S. West Texas Intermediate futures with March delivery stood 1.7% higher at $66.27.â CNBC's Lee Ying Shan contributed to this report. Read more CNBC politics coverageDueling PACs take center stage in midterm elections over AI regulationTrump order pushes glyphosate production; Roundup chemical hated by MAHASen. Warren tells Fed and Treasury: No bailout for crypto billionaires Correction: White House press secretary Karoline Leavitt said Wednesday that there were "many reasons and arguments that one could make for a strike against Iran." An earlier version misquoted her. Laura James, Middle East senior analyst at Oxford Analytica told CNBC on Thursday, "But as more and more planes come in and more and more equipment comes in, that signaling gets more and more expensive." An earlier version misquoted her.
U.K. police on Thursday arrested King Charles III's brother, Andrew Mountbatten-Windsor, on suspicion of misconduct in public office. View More
FILE PHOTO: Britain's Prince Andrew leaves Westminster Abbey following the coronation ceremony of Britain's King Charles and Queen Camilla, in London, Britain May 6, 2023. Toby Melville | Reuters U.K. police on Thursday arrested King Charles III's brother, Andrew Mountbatten-Windsor, on suspicion of misconduct in public office, with the monarch expressing his "deepest concern" over the latest development.British police were seen arriving at Andrew's residence in Sandringham, England, on Thursday morning, according to earlier reports from the BBC and the Daily Telegraph.Thames Valley Police said in a statement that they had arrested a man, who they did not name, in his 60s from Norfolk on suspicion of misconduct in public office and are carrying out searches at addresses in Berkshire and Norfolk. "Following a thorough assessment, we have now opened an investigation into this allegation of misconduct in public office," Assistant Chief Constable Oliver Wright said in the police statement."It is important that we protect the integrity and objectivity of our investigation as we work with our partners to investigate this alleged offence," he said, adding: "We understand the significant public interest in this case, and we will provide updates at the appropriate time." King Charles reacts Buckingham Palace initially declined to comment on the matter but the king issued a statement soon after. "I have learned with the deepest concern the news about Andrew Mountbatten-Windsor and suspicion of misconduct in public office," the king said in a statement sent to CNBC by Buckingham Palace."What now follows is the full, fair and proper process by which this issue is investigated in the appropriate manner and by the appropriate authorities," he added.The police, Charles said, had the royal family's "full and wholehearted support and co-operation.""Let me state clearly: the law must take its course. As this process continues, it would not be right for me to comment further on this matter," he said. Men step out of an unmarked car at the home of Andrew Mountbatten-Windsor on February 19, 2026 in Sandringham, Norfolk. Andrew Mounbatten-Windsor has been arrested on suspicion of misconduct in public office, following police investigation into the recently release Epstein files. The former prince continues to deny any wrongdoing. Peter Nicholls | Getty Images Entertainment | Getty Images Former prince Andrew, the younger brother of the king and the second son of the late Queen Elizabeth II, had come under scrutiny due to his relationship with the late sex offender Jeffrey Epstein, and allegations that he sexually assaulted a high-profile victim of Epstein's sex trafficking, Virginia Giuffre, when she was 17.Andrew denied any wrongdoing in connection with Epstein, and denied ever meeting Giuffre, and there is no indication that his arrest on Thursday is related to Giuffre, who died in 2025.Thames Valley Police has previously said it was "assessing" reports alleging that he sent confidential trade reports to Epstein in 2010, when he was Britain's special envoy for international trade. CNBC has contacted Andrew's spokesperson for further comment on the arrest. The public outcry over Andrew's association with disgraced financier Epstein has had far-reaching consequences. The former prince was stripped of his royal titles, including "His Royal Highness" and "Prince," and is no longer a working royal. Andrew was also forced to move out of his Windsor mansion, the Royal Lodge, to a smaller residence on Charles' Sandringham Estate. The king has cut Andrew's annual personal allowance and security funding, but is covering the cost of his new accommodation. A general view of the entrance to Wood Farm, the home of Andrew Mountbatten-Windsor on February 19, 2026 in Sandringham, Norfolk. Peter Nicholls | Getty Images Entertainment | Getty Images David Lammy, deputy U.K. prime minister and foreign secretary, told CNBC on Thursday that the arrest showed "no one is above the law.""This is now a police investigation and that must run its course," he told CNBC's Arjun Kharpal at the AI Impact Summit in India.Police have not disclosed any details or specifics as to the allegations being investigated or what prompted the arrest.British police can hold suspects for 24 hours without charge, but this can be extended to 36 or 96 hours with special authorization.â CNBC's Kai Nicol-Schwarz and Arjun Kharpal contributed to this report.