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A U.S. KC-135 military refueling plane crashed over western Iraq during Operation Epic Fury, with rescue operations underway. U.S. Central Command stated the loss was not due to hostile fire, though the Islamic Resistance in Iraq claimed responsibility. This marks the fourth aircraft loss since the war with Iran began, as tensions escalate with Iranian threats of retaliation.

• The incident involved two aircraft in friendly airspace; one crashed in western Iraq while the second landed safely, with the number of service members aboard unclear
• This is the fourth reported U.S. aircraft loss since the Iran conflict started, following previous losses including one from friendly fire by Kuwait's air defenses
• Iran's security chief Ali Larijani warned the U.S. would be made 'sorry' for starting the war, while Supreme Leader Mojtaba Khamenei threatened attacks on all U.S. military bases in the Middle East

The U.S. launched Section 301 trade investigations into 60 countries, including China, the EU, India, and Mexico, to determine whether these economies have failed to prevent imports of goods produced with forced labor. The probes could lead to tariffs on countries found engaging in unfair trade practices and may replace some reciprocal tariffs recently struck down by the Supreme Court.

• Investigations conducted under Section 301(b) of the Trade Act of 1974, which allows the U.S. to impose tariffs without congressional authorization for unfair trade practices
• USTR Jamieson Greer stated that governments have failed to enforce measures banning forced-labor goods from entering their markets, impacting U.S. workers and businesses
• The announcement comes as Treasury Secretary Scott Bessent prepares to meet Chinese counterpart He Lifeng in Paris for bilateral trade talks this weekend

Two months after Australia banned social media platforms from allowing users under 16, data shows 20% of teens aged 13-15 still access TikTok and Snapchat. The ban, which took effect in December 2024, threatens platforms with fines up to A$49.5 million ($35 million) for non-compliance. While usage has declined more sharply than typical seasonal patterns, early data suggests age-gating methods face effectiveness challenges.

• Snapchat usage among 13-15-year-olds dropped 13.8 percentage points to 20.3%, while TikTok fell 5.7 points to 21.2% from November to February
• Platforms including Meta, YouTube, TikTok and Snapchat face fines up to A$49.5 million for systemic non-compliance, though regulators say they will allow adaptation time
• Decline was steeper than typical summer break patterns, and fears of migration to unregulated platforms have not materialized, though WhatsApp saw slight uptick

Meta has postponed the launch of its AI model code-named Avocado from March to at least May, according to a New York Times report citing three sources familiar with the matter. The delay affects Meta's planned AI product release timeline, though Reuters could not independently verify the report. The postponement comes as tech companies race to develop and deploy advanced AI capabilities.

• The AI model, internally referred to as 'Avocado', was originally scheduled for release in March 2024
• Launch has been pushed back to at least May, representing a delay of approximately two months
• The report relies on three unnamed sources with knowledge of the decision, though Reuters has not independently confirmed the information

Amazon is planning to move its Prime Day sale event to late June, according to Bloomberg News, marking a rare shift from its traditional July timing since 2015. The change would move Prime Day sales into Amazon's second quarter and position the event closer to the back-to-school shopping season. This comes as Amazon faces increased competition from retailers like Walmart and Target investing heavily in e-commerce fulfillment capabilities.

• Last year's Prime Day drove $24.1 billion in online spending across U.S. retailers, up 30% year-over-year, according to Adobe Analytics
• The timing shift would move Prime Day sales into Amazon's second quarter, which typically ends June 30, potentially impacting quarterly financial results
• Amazon faces growing competition as Walmart's e-commerce contribution to U.S. sales nearly doubled in its most recent quarter, with customers using 3-hour delivery growing over 60% in fiscal 2026

Medical device maker Stryker disclosed a cyberattack causing widespread disruptions to order processing, manufacturing, and shipping operations. An Iranian-linked hacking group called Handala claimed responsibility, stating the attack was retaliation for a strike on an Iranian girls' school that reportedly killed 150 students. The company has 56,000 employees and operates in 61 countries, though patient services and connected medical products remain unaffected.

• The cyberattack is disrupting Stryker's ability to process orders, manufacture products, and ship to customers, with full financial impact still unknown
• Handala, an Iranian-linked hacking group, claimed the attack as retaliation for U.S.-Israeli strikes on a school in Minab, Iran
• Patient-related services and connected medical devices have not been affected by the incident, and the company's investigation is ongoing

Adobe announced that CEO Shantanu Narayen will step down after 18 years once a successor is named. The transition comes as Adobe faces increasing competitive pressure from AI-driven newcomers that are challenging its dominant position in creative software. Narayen led Adobe's transformation of flagship products like Photoshop and Illustrator into industry-standard tools for creatives worldwide.

• Narayen served as Adobe's CEO for 18 years, overseeing the company's creative software suite including Photoshop, Illustrator, Premiere Pro, and InDesign
• Adobe is confronting a shifting software landscape where AI technology is lowering barriers to entry for design tools and enabling new competitors
• The company's stock dropped following the CEO transition announcement

The U.S. Air Force is withholding a follow-on contract for 75 additional KC-46 tankers until Boeing resolves ongoing deficiencies with the aircraft, according to Vice Chief of Staff Gen. John Lamontagne. Boeing has already lost over $7 billion on the fixed-cost program and delivered more than 100 of the 183 tankers currently under contract. A decision on the new contract is expected in approximately two years.

• The Air Force will not award a new contract for 75 KC-46s until Boeing fixes problems with the refueling boom and visual system, with resolution expected next year
• Boeing has lost more than $7 billion on the fixed-cost KC-46 program and plans to revise pricing on future contracts to 'make money' on the program
• The company delivered 14 tankers in 2025 and plans to deliver 19 in 2026, requiring higher resource levels to meet delivery schedules

Amazon's Prime Air drone unit is withdrawing from the Commercial Drone Alliance due to safety disagreements, specifically over collision-avoidance technology requirements. The company cited its own operational experience showing that detect-and-avoid systems prevented two potential catastrophic mid-air collisions during more than 70,000 flights, technology the alliance reportedly opposes requiring.

• Amazon Prime Air completed over 70,000 drone flights and recorded two instances where detect-and-avoid systems prevented potential mid-air collisions that 'could have led to catastrophic safety consequences, including the loss of life'
• The Commercial Drone Alliance's positions on key safety issues are 'incompatible with Prime Air's core safety tenets', according to Amazon's withdrawal letter
• The dispute centers on the alliance's opposition to requirements for collision-avoidance technology that Amazon considers essential for commercial drone operations

Microsoft's top Office executive Rajesh Jha is retiring in July 2025 after more than 35 years at the company, marking a significant leadership change as Microsoft pursues its AI strategy. Jha led the Experiences and Devices organization, one of Microsoft's largest engineering teams, and oversaw integration of AI models into the 365 Copilot product. Four executives from his organization will now report directly to CEO Satya Nadella.

• Jha joined Microsoft in 1990 and led teams responsible for Office products, Windows, Surface devices, and the Microsoft 365 Copilot AI integration with OpenAI and Anthropic models
• Microsoft 365 commercial cloud revenue grew 17% in the December quarter and accounted for over 30% of total company sales, while Windows and Devices represented less than 6% of revenue
• The departure follows the recent retirement of Microsoft's longtime gaming chief and comes as the company announced a new $99 per month premium Microsoft 365 subscription with Copilot

Stellantis is seeking investment deals with Chinese automakers to help revitalize its struggling European operations. The company has held discussions with Xiaomi and Xpeng about potential stake acquisitions in brands like Maserati, according to Bloomberg News reports.

• Stellantis executives have met with Chinese carmakers Xiaomi and Xpeng to discuss restructuring options for its European business
• Potential deals could involve Chinese companies acquiring stakes in Stellantis brands, including luxury marque Maserati
• The move reflects Stellantis' challenges in European markets and the growing influence of Chinese automakers in the global industry

Brazil eliminated PIS and Cofins federal taxes on diesel and imposed a temporary levy on oil exports on March 12 to cushion the impact of surging global oil prices on domestic fuel costs. President Lula stated that 'oil prices are getting out of control,' prompting the government to act. The export tax aims to boost domestic refining and ensure internal supply, affecting state-run Petrobras, which recently posted record oil exports.

• The government scrapped PIS and Cofins federal taxes on diesel to reduce fuel prices for consumers amid volatile global oil markets
• A temporary oil export levy was introduced to encourage domestic refining and secure internal supply rather than exporting crude oil
• Petrobras, Brazil's largest oil producer and a state-run company, recorded record oil exports in Q4 and will be directly impacted by the new export tax

Rivian will launch its crucial R2 electric vehicle this spring starting at $58,000 for a performance 'Launch Package' model, with the previously advertised $45,000 entry-level version delayed until late 2027. The R2 is considered a make-or-break moment for the struggling EV maker as it faces mounting losses and waning demand for its current $70,000+ vehicles. The midsize SUV will compete directly with Tesla's Model Y and aims to help Rivian achieve profitability.

• The initial R2 Performance model ($57,990) features 330-mile range, dual motors, 656 horsepower, and 'lifetime' access to advanced driver assistance, with less expensive variants rolling out through 2027
• Rivian reported nearly $2.1 billion in adjusted pretax losses in 2025 and expects $1.8-$2.1 billion in losses for 2026, while the R2 plant in Illinois and future Georgia facility target 400,000 vehicles annually
• Analysts express concerns about R2 demand amid weak U.S. EV market conditions, loss of $7,500 federal tax credits, and competition from Tesla's Model Y which starts around $40,000 with similar specs

Milan prosecutors have requested a trial for Amazon's European unit and four executives over alleged tax evasion worth approximately 1.2 billion euros ($1.38 billion). This marks an unprecedented move in Italy, as Amazon already paid 527 million euros in December to settle the tax dispute with Italy's Revenue Agency. Unlike previous cases involving international companies, prosecutors did not drop the criminal investigation despite the settlement.

• Amazon's European unit faces trial despite paying 527 million euros (including interest) to Italy's Revenue Agency in December to settle the tax dispute
• The alleged tax evasion amounts to around 1.2 billion euros ($1.38 billion), with four Amazon managers also facing prosecution
• This represents a departure from standard Italian practice where prosecutors typically close criminal investigations after settlements with international companies through plea deals or case dismissals

U.S. Senator Elizabeth Warren is demanding details from Amazon CEO Andy Jassy about the company's algorithmic pricing practices on its procurement platform, following allegations that schools and local governments paid significantly different prices for identical office supplies. An advocacy group report found price disparities, including one city paying three times more for Sharpies than a nearby school district, raising concerns about dynamic pricing replacing standard fixed procurement pricing.

• The Institute for Local Self-Reliance reported in December that Amazon Business uses algorithm-driven dynamic pricing that allows the company to covertly raise prices for government buyers instead of offering fixed prices typical in procurement
• Warren sent a dozen questions to Amazon regarding how it determines prices for local governments and school districts and whether it uses personal consumer data for price-setting
• States including California and New York, along with the FTC, have raised concerns about collection and use of personal data to determine prices

The U.S. has launched Section 301 trade probes targeting China's unfair trade practices, particularly excess manufacturing capacity, less than three weeks before a high-stakes summit in Beijing between Presidents Trump and Xi Jinping. The investigation adds new friction to U.S.-China relations and serves as leverage for Trump ahead of the March 31-April 2 meeting, though analysts expect limited breakthroughs beyond maintaining bilateral stability.

• China's exports surged 21.8% in early 2026, pushing its trade surplus to a record $213.6 billion, despite global criticism of its over-reliance on external demand.
• The probes follow the Supreme Court striking down Trump's 'reciprocal' tariffs last month, forcing the administration to pivot to Section 301 authority which allows tariffs without congressional approval.
• Expectations for the summit have been scaled back, with deliverables likely limited to commercial purchases like soybeans rather than comprehensive deals, and few U.S. CEOs expected to join Trump's delegation.

Amazon announced plans to invest 23 billion zlotys ($6.23 billion) in Poland between 2026 and 2028, representing an acceleration of its commitment to the country. This three-year investment nearly matches the 45 billion zlotys Amazon invested over the previous 13 years (2012-2025), signaling significantly faster expansion in the Polish market.

• The 23 billion zloty investment over three years (2026-2028) compares to 45 billion zlotys invested over the previous 13-year period (2012-2025)
• Amazon VP for EU stores Mariangela Marseglia characterized the move as 'accelerating' investment in the Polish economy
• The investment translates to approximately $6.23 billion at current exchange rates (1 USD = 3.69 zlotys)

Tesla Energy Ventures received approval from UK regulator Ofgem to supply electricity to British homes, positioning the company to compete directly with established energy suppliers. The license, granted after an application process starting in July, allows Tesla to leverage its solar energy and battery storage business in Britain's residential market during a period of elevated energy price concerns.

• Tesla will compete with existing UK household suppliers like Octopus Energy, British Gas, and EDF using its Powerwall home battery and solar energy systems
• The expansion comes as energy prices have surged due to war in Iran, with British consumers protected by regulated tariffs only until July
• Tesla vehicle sales in Britain fell in 2025 amid competition from cheaper Chinese brands and consumer backlash against Elon Musk's political views

European markets are expected to open lower on Thursday, with major indices projected to decline 0.2% to 1.1%, as investors react to ongoing Iran war developments and rising oil prices. Despite the International Energy Agency announcing a strategic reserve release from 32 member countries to address supply disruptions, oil prices jumped more than 8% overnight as traders remain skeptical about offsetting the global supply shock.

• Oil prices surged over 8% despite IEA's strategic reserve release announcement, indicating market doubts about addressing supply disruptions from the Iran war
• European indices expected to open down 0.2% (UK) to 1.1% (Italy), with Germany and France declining 1% and 0.8% respectively
• Trump administration launched trade investigations into the EU and other economies under U.S. law that permits tariffs on nations found engaging in unfair trade practices

Nissan Motor, Uber Technologies, and British startup Wayve announced a partnership to develop robotaxi services, planning a pilot program in Tokyo by late 2026. The collaboration will use Nissan Leaf electric vehicles equipped with Wayve's autonomous driving technology, made available to customers through Uber's platform.

• Pilot program targeted to launch in Tokyo by late 2026
• Nissan Leaf EVs will be equipped with Wayve's autonomous driving technology
• Service will be accessible to customers through Uber's existing platform