A JBS (JBSS32), maior produtora global de carnes, relatou nesta terça-feira (12) uma queda de 55,8% no lucro líquido para US$ 221 milhões, com a força das operações brasileiras não sendo suficientes para compensar margens negativas da unidade norte-americana de proteína bovina, a maior do grupo.
Os destaques positivos ficaram por conta da JBS Brasil, apoiada pela forte demanda global por carne bovina, e da unidade brasileira Seara, de processados e carnes suína e de aves, que teve desempenho consistente nos mercados locais e internacionais, disse a empresa.
O lucro antes de juros, impostos, amortização e depreciação (Ebitda) ajustado somou US$1,13 bilhão, queda de 26% ante o mesmo período do ano passado, enquanto a receita líquida avançou 11% na mesma comparação, para US$21,61 bilhões.
A unidade de carne bovina da América do Norte, que respondeu por cerca de um terço da receita da companhia no período, registrou Ebitda ajustado negativo em US$267 milhões, uma piora em relação ao mesmo período do ano passado (US$100 milhões negativos), enquanto as margens foram negativas em 3,7%.
Ainda na América do Norte, uma parada programada de cerca de duas semanas em três fábricas da Pilgrim’s Pride, para obras de ampliação e mudança de “mix” de produtos de frango, afetou o resultado da unidade, segundo a companhia.
The Navy's new refueling drone completed its first test flight over the weekend. The MQ-25A Stingray is the Navy's first carrier-based unmanned aircraft. Right now, there are no unmanned refueling aircraft in service, but the Navy said the Stingray is expected to enter service in 2027.
Built by Boeing, the Stingray costs about $209 million per unit. The Navy invested about $16 billion in the system. After years of delays in the Stingray's development, this test flight gets the Navy closer to using it in military operations.
The Navy says the drone will be a valuable tool to extend the reach of crewed fighters and aircraft.
Os índices de Wall Street fecharam sem direção única nesta sexta-feira (24) à espera das negociações entre Estados Unidos e Irã no Paquistão. Mesmo assim, o Nasdaq e o S&P 500 bateram novos recordes, impulsionados pelas ações de tecnologia.
Confira o fechamento dos índices:
Dow Jones: -0,16%, aos 49.229,48 pontos;
S&P 500: +0,80%, aos 7.165,08 pontos – no maior nível nominal histórico;
Nasdaq: +1,63%, aos 24.836,59 pontos – no maior nível nominal histórico.
Na semana, os números também são mistos: o Dow Jones recuou 0,4%, enquanto S&P 500 subiu cerca de 0,6% e Nasdaq avançou 1,5%.
No fechamento, o VIX (CBOE Volatility Index), considerado um termômetro de risco dos mercados atrelado ao S&P 500, operava em queda de 3,57%, aos 18,62 pontos – o que é considerado como um “ambiente normal” no mercado.
Wall Street acompanha balanços e guerra
Os investidores acompanharam os desdobramentos da guerra entre Estados Unidos e Irã, com sinais de nova rodada de negociações neste fim de semana, e os balanços corporativos.
Durante a tarde, a Casa Branca anunciou a ida de Steve Witkoff e Jared Kushner ao Paquistão para negociações com o Irã trouxe certo alívio para os mercados. A operação dos EUA no país persa passou para a “fase diplomática”, afirmou a porta-voz da Casa Branca, Karoline Leavitt.
Mais cedo, a agência de notícias Associated Press informou, segundo dois funcionários paquistaneses, que o ministro das Relações Exteriores do Irã, Abbas Araghchi, viaja para o Paquistão para negociações neste final de semana e deve chegar ainda nesta sexta-feira.
À Reuters, o presidente dos EUA, Donald Trump, disse que o Irã planeja fazer uma oferta para atender às exigências norte-americanas, em meio à expectativa de retomada das negociações no Paquistão.
“Eles estão fazendo uma oferta e teremos que ver o que acontece”, disse Trump durante entrevista por telefone, acrescentando desconhecer qual seria a oferta.
O presidente dos EUA afirmou ainda “não querer dizer” quais são os interlocutores dos EUA nas negociações, mas que estão “lidando com pessoas que estão no comando agora”.
Apesar dos acenos diplomáticos, o Departamento do Tesouro dos Estados Unidos anunciou novas sanções contra o Irã, incluindo o congelamento de US$ 344 milhões em criptomoedas.
Em publicação no X, o secretário do Tesouro, Scott Bessent, disse que “continuará a degradar sistematicamente a capacidade de Teerã de gerar, movimentar e repatriar recursos”.
O S&P 500 subiu impulsionado pela disparada de 23% das ações da Intel, após balanço trimestral melhor do que o esperado pelo mercado.
Dados econômicos
No front econômico, a confiança do consumidor dos EUA caiu em abril para o menor nível da série, conforme a guerra com o Irã alimentou temores de inflação, mostrou uma pesquisa nesta sexta-feira.
A Pesquisa do Consumidor da Universidade de Michigan mostrou que seu Índice de Opinião do Consumidor caiu para uma leitura final de 49,8 neste mês, nível mais baixo já registrado para o dado mensal fechado.
Os economistas consultados pela Reuters haviam previsto o índice em 48,0. Ele estava em 53,3 em março.
Os índices de Wall Street encerraram o pregão desta terça-feira (7) com a expectativa de um cessar-fogo no Oriente Médio após o Paquistão, mediador das negociações entre EUA e Irã, pedir o prolongamento do prazo de Trump.
Confira o fechamento dos índices:
Dow Jones: -0,18%, aos 46.584,46 pontos;
S&P 500: +0,08%, aos 6.616,85 pontos;
Nasdaq: +0,10%, aos 22.017,84 pontos.
O VIX (CBOE Volatility Index), considerado um termômetro de risco dos mercados atrelado ao S&P 500, encerrou aos 25,74 pontos (+6,41%). O número na faixa de 25 a 30 pontos indica “turbulência” no mercado.
Novas ameaças de Trump ao Irã
Hoje pela manhã, o presidente dos Estados Unidos, Donald Trump, elevou o tom e disse que “toda a civilização morrerá hoje à noite” se um acordo com o Irã não for firmado, em publicação na rede social Truth.
Apesar do tom, a pressão para um acordo com o Irã já havia se intensificado nos últimos dias. No domingo (5), Trump emitiu uma ameaça repleto de palavrões, alertando o Irã de que estaria “vivendo no inferno” se o Estreito de Ormuz não fosse reaberto até esta terça-feira às 21h (horário de Brasília).
Também nesta terça-feira, o vice-presidente norte-americano, JD Vance, afirmou que a guerra com o Irã será concluída “muito em breve” e indicou que Washington ainda espera avanços diplomáticos até o prazo final imposto pelo presidente Donald Trump, às 21h (de Brasília).
No início da tarde, o New York Times noticiou que o Irã suspendeu as negociações com os EUA e também informou ao Paquistão, mediador das tratativas entre os dois países, que não participará de mais conversas sobre um cessar-fogo.
Já na reta final do pregão, o Pasquistão pediu para Trump estender o prazo de tratativas por duas semanas.
O primeiro-ministro paquistanês, Shehbaz Sharif, disse que os “os esforços diplomáticos para uma resolução pacífica da guerra em curso no Oriente Médio estão progredindo de forma constante, firme e eficaz, com potencial para alcançar resultados substanciais em um futuro próximo”, em publicação na rede social X.
Sharif ainda sugeriu que o Irã reabrisse o Estreito de Ormuz “como um gesto de boa vontade” nessas duas semanas, como parte do cumprimento de um cessar-fogo entre os dois países nesse intervalo.
Some airlines have increased checked-bag fees amid rising jet fuel costs.
Qian Weizhong/VCG via Getty Images
Spiking jet fuel prices have left airlines looking for ways to recoup their extra costs.
Many airlines have already increased ticket prices, and now some are bumping checked bag fees.
Delta Air Lines said it will increase fees for first and second checked bags by $10 from Wednesday.
Travelers are feeling the pinch from the war in Iran.
Many airlines have already increased ticket prices and introduced fuel surcharges, but now there's a new target: checked bags.
Three major US airlines have increased baggage fees in recent days as soaring jet fuel prices have left them scrambling to offset skyrocketing costs.
The US and Israel's war on Iran has caused supply chain disruptions, leading to a surge in jet fuel prices, which has tightened margins for airlines.
Flight prices are rising as a result, and some airlines have already canceled — or are planning to cancel — flights due to the jet fuel shortages.
See which airlines have increased their fees for checked luggage:
Delta Air Lines
Patrick van Katwijk/Getty Images
Delta Air Lines will increase fees for first and second checked bags by $10 from Wednesday, according to a statement shared with Business Insider.
For the third checked bag, fees will increase by $50. The changes apply to domestic and select short-haul international routes, and will not impact long-haul international flights or complimentary bag benefits, the airline said.
"These updates are part of Delta's ongoing review of pricing across its business and reflect the impact of evolving global conditions and industry dynamics," Delta said in the statement on Tuesday.
United Airlines
Peter Nicholls/Getty Images
United Airlines said on Friday that it was raising the fees for first and second checked bags by $10. Like Delta, it said it will charge an extra $50 for third bags.
The airline said in a previously shared statement to Business Insider that this would apply to "customers traveling in the US, Mexico, and Canada and Latin America beginning with tickets purchased Friday, April 3."
The price of a first checked bag for a domestic flight has risen to $39 from $35 on non-peak days, and to $49 from $40 on peak travel days.
In a previous statement to Business Insider, the airline did not directly reference rising fuel prices as the reason for the fee increase, though it did note that its operating costs are rising.
"As we experience rising operating costs, we regularly evaluate how to manage those costs while keeping base fares competitive and continuing to invest in the experience our customers value," a spokesperson for JetBlue previously told Business Insider.
A JBS (JBSS32) reportou um lucro líquido de US$ 415 milhões no quarto trimestre de 2025 (4T25), um aumento de US$ 2 milhões (0,48%) na comparação com o mesmo trimestre de 2024.
A receita líquida cresceu 15,47% no mesmo comparativo, saindo de US$ 19,974 bilhões para US$ 23,063 bilhões. No ano de 2025, a receita líquida totalizou US$ 86 bilhões no resultado de 2025, alta de 12% comparado com 2024 e um recorde histórico para companhia.
A companhia também comunicou que aprovou nesta quarta (25) o pagamento de US$ 1 por ação em dividendos, a serem pagos em 17 de junho de 2026. Terão direito aos proventos os acionistas com posição na companhia em 18 de maio de 2026.
A JBS no 4T25
Os principais motores desses resultados anuais foram as operações da Pilgrim’s Pride, JBS Austrália e Seara, que atuaram com forte expansão e geração de valor.
A solidez dos resultados ao longo de 2025 também se refletiu na evolução do retorno sobre o patrimônio líquido (ROE), que foi de 25% nos últimos 12 meses. Comparado com o resultado consolidado de 2024, o indicador avançou 3,2 pontos percentuais.
O desempenho foi impulsionado pela expansão dos resultados operacionais, maior disciplina na alocação de recursos e foco em geração de valor para os acionistas. O lucro por ação (EPS, earning per share) registrou salto de 15% comparado com 2024 e fechou 2025 em US$ 1,89.
A alavancagem em dólar encerrou o ano em 2,39 vezes (contra 1,9x de 2024), em linha com a meta de longo prazo da companhia e estável em relação ao 3T25.
Em comunicado, JBS destacou que possui um confortável cronograma de amortizações, sem vencimentos relevantes de dívida previstos até 2031 e com um custo de dívida altamente competitivo, com cupons até 2032 posicionados abaixo das taxas dos Treasuries dos Estados Unidos.
“Encerrar 2025 com um crescimento de 15% na receita comprava a força e a resiliência da nossa plataforma diversificada, tanto em proteínas quanto em geografias. Ao mesmo tempo, o avanço de 15% no lucro reforça a consistência da nossa execução, sustentando margens robustas e a nossa capacidade de continuar gerando crescimento e valor para os acionistas”, afirmou Gilberto Tomazoni, CEO Global da JBS
In a House testimony on Wednesday, acting TSA administrator Ha Nguyen McNeill said that so many officers have quit since their pay stopped in mid-February that the agency can't get replacements fast enough to adequately staff airports ahead of the World Cup in June.
She said TSA officers spend four to six months in training before working checkpoints, but the games — which will take place across 16 cities in the US, Canada, and Mexico — start in just 80 days.
"This is a dire situation," she said, adding that more than 480 officers have quit so far. "We are facing a potential perfect storm of severe staffing shortages and an influx of millions of passengers at our airports."
TSA agents haven't been paid for nearly six weeks, yet are deemed "essential" and expected to work during the shutdown, with back pay promised afterward. Their annual pay starts at around $40,000 and averages $60,000 to $75,000 a year with experience.
Still, many live paycheck to paycheck and can't afford to work unpaid for months at a time — quitting and finding another job or doing gig work is often their best option.
Mass TSA agent quits and callouts amid the shutdown, compounded by peak spring break travel, have already created hourslong security lines and stranded travelers. It's a preview of the chaos that could repeat when an estimated 6 million fans descend on potentially understaffed airports for the World Cup.
"If we see any spikes [in attrition], we're going to have to pivot and assess how we are going to staff the FIFA locations adequately," McNeill said.
Passengers traveling to the scheduled World Cup games in San Francisco and Kansas City, however, are likely safe from staffing chaos.
Former Republican Sen. from Oklahoma, Markwayne Mullin — who was confirmed as the new head of the Department of Homeland Security on Monday after Kristi Noem's ousting in early March — said in a Senate hearing last week that the US is "behind" on World Cup preparations and the shutdown is making it worse.
"It'll take four months once funding comes in to start replacing those that we've lost for training before we can get them out in the field; we don't have four months with FIFA," he said. "How do we expect these people to stay on the job and work? We're losing institutional knowledge, we're losing people we've already trained."
A TSA agent surveys the security line at New York LaGuardia airport.
CHARLY TRIBALLEAU / AFP via Getty Images
The mass quits are exacerbating a problem that was already flagged last year.
A February 2025 report from the US Travel Association — long before the shutdown's impact could be factored in — warned that the TSA may not be efficient enough to handle surging travel volumes during the World Cup.
On its busiest days, the agency screened about 3 million passengers. During the games, the organization said that level of traffic would be the norm.
Trying noise-canceling for the first time, I felt like a confused child.
Duane Howell/Denver Post via Getty Images
Noise-canceling headphones have been around for decades, but I never tried them — until now.
I was so confused and freaked out by the sudden silence when I put in my new AirPods 4.
I felt scared, like a caveman at a monster truck rally. Embarassing, really!
It's March of 2026, and I just bought my first pair of noise-cancelling headphones. I'm shocked, astounded, perturbed, and horrified: Is this how you people have been walking around all this time?!
Last week, after losing my right AirPods 3 earbud, I ordered a new pair of AirPods 4 with active noise cancellation. They're the first headphones I've ever worn with noise canceling.
Of course, noise-cancelling technology in headphones has been around since the 1980s, and became popular in big squishy over-the-ear Bose headphones in the 2000s. Noise canceling has been part of the AirPods Pro lineup since 2019. For some reason, I just ... never tried them.
My first experience with noise canceling
I set up my new AirPods over the weekend while waiting around in the parents' zone at a trampoline park. Because I didn't bother reading the instructions, which suggest pairing by holding the case next to your phone, I simply put the unpaired earbuds into my ears.
Immediately, everything went quiet. I looked around, confused. Did the loud trampoline park just turn off the upbeat pop music they were blasting? Why was everyone suddenly silent? Is there an emergency? Was someone hurt? Oh god, was my kid hurt?! I was panicked, scanning the other tables where adults idly sat looking at phones or tying preschoolers' shoes. No one else seemed to be concerned.
I took out the AirPods, and whoooosh — the music and din flooded back. My brain scrambled to make sense of the sensory experiences hitting it, slowly realizing that this was what noise-canceling does. I was like a caveman being shown a Bic lighter; fearful and confused. I was like the proverbial Victorian child who would pass out if you showed it the AI-generated video of anthropomorphic fruits on "Love Island."
This is incredibly embarrassing on one level because I am a professional technology journalist who generally tries to stay up to date and informed about interesting personal tech devices. The fact that I had never used noise-canceling headphones was an odd oversight.
The AirPods 4 come with active noise-canceling, something I had never tried until now.
T3/T3
I don't have good reasons for this, but I do have some weak excuses.
First and foremost, I'm cheap. And in my mind, headphones are something you shouldn't have to spend more than $20 on — up until the iPhone 12, Apple included a free set of corded headphones in the box with a new iPhone or iPod. I had a drawer overflowing with them! Headphones were just something that came into your life, like a cheap black umbrella — you didn't seek them out or intentionally buy them. Now, suddenly, I'm expected to drop a C-note on them?
When AirPods launched in 2016, I initially waved them off as overpriced and frivolous. It looked too easy to lose one. But eventually I gave in and, of course, realized that AirPods are incredibly convenient and great to use (I was right about them being easy to lose, however). Now, it's hard to imagine ever going back to wired headphones, no matter how much Gen Z makes it look cool.
My other main reason is that because I use headphones while walking down the street, riding the subway, or in other public situations, the idea of not being able to hear my surroundings felt like a safety issue. Sure, it might be nice on a plane, but it didn't make sense for my main headphone use.
Jury's still out on whether I like the noise canceling
As I've been playing around with the new noise-canceling headphones, I'm not sure how much I actually like them. Taking them in and out is disorienting, like coming up to the surface too fast while scuba diving (or, what I imagine that feels like).
I tried them at the gym, where they seemed useful, but at home, my husband (who has had noise-canceling headphones for a decade) was mildly frustrated when he tried to talk to me, not realizing I had them in. Understandable!
The AirPod 4s can turn active noise-canceling on and off if you rub the earbud's stem, but I haven't quite mastered this yet — I've tried and sort of fumbled around, turning my podcast on and off and knocking it out of my ear. I'll keep working at it.
I'm just glad to have finally joined the 21st century.
Delta Air Lines, United Airlines, and Allegiant have issued advisories giving travelers more flexibility during the ongoing travel chaos. Most airlines eliminated most change fees after the COVID pandemic, but many still charge them for changes to basic fares.
Due to a partial government shutdown, TSA agents have been working without pay since February 14. As a result, more of them have been calling out of work.
The shutdown persists as Republicans and Democrats are at loggerheads over funding for the DHS. Republicans want to allocate billions more to ICE, but Democrats want it to be reformed in the wake of January's violence in Minnesota.
Here are the airlines that are offering waivers:
Delta Air Lines
In a travel advisory, Delta said that travel from its main hub, Atlanta's Hartsfield-Jackson International, "may be affected" by longer security wait times. The airport is advising passengers to allow at least 4 hours for domestic and international screenings.
Delta customers flying from Atlanta on Monday or Tuesday can rebook to travel on or before March 30, and the fare difference will be waived.
Within a year of the ticket being issued, passengers could rebook without a change fee but would still need to pay the fare difference. Or, they could apply any unused value of the ticket toward the purchase of a new one.
A Delta spokesperson said this only applies for people on flights originating from Atlanta, not connecting through the hub.
United Airlines
United issued an alert for Houston's George Bush Intercontinental Airport, saying travel "may be affected."
Tickets purchased on or before Sunday, for travel on Monday or Tuesday, can be rescheduled for a United flight until March 31. "Tickets must be in the same cabin and between the same cities as originally booked."
The airline didn't immediately respond to a request for comment on whether this was directly related to TSA staffing shortages. A banner on the airport's website on Tuesday said security wait times could exceed 4 hours.
Allegiant Air
Allegiant announced a "travel with confidence" policy that allows customers with new and existing tickets through the end of the partial government shutdown to change or cancel their flights at no extra charge.
This includes "no change fees for eligible bookings" and the "option to cancel and receive a refund without penalty."
JetBlue
"With the exception of Blue Basic, all JetBlue fares are flexible — meaning no change or cancellation fees for customers who want to adjust their travel plans ahead of time," an airline spokesperson told Business Insider.
Customers who miss their flight due to long security lines will be rebooked on the next available flight, they added.
JetBlue advises customers to arrive earlier than normal, and said that it's working closely with TSA and continues to monitor the situation.
Southwest
Southwest said it is rebooking passengers who miss their flights due to long TSA lines at no cost.
The airline added that customers are also being offered change waivers and that it's "accepting checked bags well in advance of scheduled flights."
Dow Jones hoje estende perdas da semana passada diante da alta nos contratos futuros do petróleo, que subiram mais de 2% na madrugada desta segunda-feira (23), em meio à escalada das tensões da guerra no Oriente Médio.
No fim de semana, o presidente dos EUA, Donald Trump, deu ao Irã um ultimato de 48 horas para reabrir o Estreito de Ormuz, sob ameaça de ataques à infraestrutura de energia do país.
Às 7h40 (de Brasília), o barril do petróleo WTI para maio subia 0,50% na Nymex, a US$98,70, enquanto o do Brent para junho avançava 2,09% na ICE, a US$ 108,52.
Cenário internacional abala as bolsas de Nova York
Enquanto o petróleo dispara, os índices futuros das bolsas de Nova York operaram em baixa de cerca de 1% na madrugada, estendendo as perdas da semana passada.
Publicidade
A agenda econômica dos EUA de hoje traz um índice de atividade e dados de investimentos em construção. Às 7h40 (de Brasília), no mercado futuro, o Dow Jones caía 0,80%, o S&P 500 recuava 0,91% e o Nasdaq tinha perda de 1,03%.
Treasuries avançam com incertezas econômicas
Os rendimentos dos títulos de renda fixa de dívida pública do governo norte-americano, Treasuries, operam em alta desde a madrugada de hoje, ampliando os ganhos da sessão anterior e permanecendo nos maiores níveis desde o segundo semestre de 2025.
O movimento ocorre em meio às incertezas econômicas relacionadas à guerra, que levaram grandes bancos centrais, incluindo o norte-americano, o Federal Reserve (Fed), a deixar suas taxas de juros inalteradas na semana passada.
Às 7h40 (de Brasília), o juro da T-note de 2 anos subia a 3,999%, o da T-note de 10 anos avançava a 4,439% e o do T-bond de 30 anos avançava a 4,967%.
Dólar não para de ganhar força
Seguido pela guerra e nova alta do petróleo, o dólar hojesegue subindo ante outras moedas de economias desenvolvidas.
Às 7h40 (de Brasília), o euro caía a US$ 1,149, a libra recuava a US$ 1,326 e o dólar avançava a 159,58 ienes. Já o índice DXY do dólar — que acompanha as flutuações da moeda norte-americana em relação a outras seis divisas relevantes — tinha alta de 0,47%, a 100,12 pontos.
As commodities agrícolas têm apresentado alta em meio ao conflito entre Estados Unidos e Irã.
De acordo com o BB Investimentos, as perspectivas para a soja e o milho são de crescimento para este mês, já para as carnes, os preços têm sido pressionados.
Em fevereiro, a soja teve bons resultados na bolsa de Chicago, com crescimento de 6,7% em comparação ao mês anterior. A alta partiu de perspectivas de maior consumo de grãos nos Estados Unidos, além da expectativa de exportação para a China, com a possível elevação do uso de óleo de soja para biocombustíveis.
Em março, a cotação da soja teve novas altas, após o início do conflito entre EUA e Irã. De acordo com o BB Investimentos, a cotação mais alta do petróleo influencia os valores das commodities agrícolas, “dado que a cotação dos biocombustíveis se correlaciona com a do petróleo”.
Já o milho, no mês passado, teve uma leve queda de 0,3% comparado a janeiro, devido a expectativa de redução do trade global dos EUA, com maior competição contra exportadores sul-americanos e pouco crescimento da demanda global. Todavia, a guerra também elevou a cotação do grão, que fechou a US$ 4,53 no dia 12 de março.
Pressão sobre os preços
No caso das carnes, as perspectivas a médio e longo prazo para o BB não são tão otimistas.
A carne bovina teve uma desaceleração no ritmo de abates, mas manteve um patamar de exportações elevado. Esse desequilíbrio tem pressionado os preços da arroba do boi gordo, que está sendo negociada em torno de R$ 350/@, segundo o banco.
Para a carne de frango e a carne suína, o cenário é semelhante: crescimento dos abates, mas níveis de exportação reduzidos, prejudicando a rentabilidade tanto no mercado internacional quanto no mercado doméstico.
A analista Georgia Jorge, que assina o relatório, indica uma expectativa de que esse cenário se mantenha nos próximos meses e impacte negativamente a lucratividade do setor ao longo de 2026.
Ainda assim, entre as recomendações, os frigoríficos foram destaque de fevereiro para o BB, com 3 recomendações de compra em Minerva Foods (BEEF3), JBS (JBSS32) eMBRF (MBRF3). Já em março, SLC Agrícola (SLCE3) fica em evidência, apontando para os melhores resultados nos preços dos grãos.
Ukraine conducted a devastating, large-scale, and new type of drone attack on Russian military bombers in Siberia.
X/ServiceSsu
Western militaries need to study one Ukrainian operation in particular for drone warfare lessons.
Officials say Operation Spiderweb, which struck dozens of Russian jets, offers key lessons.
The US Army's drone course director told Business Insider it's "the one event that I teach to the students."
Western militaries are investing heavily in drone warfare after seeing their impact in Ukraine's fight against Russia's invasion. And while it isn't necessary to absorb every lesson, current and former military officials say one major operation is worth studying closely.
Maj. Rachel Martin, director of the US Army's Unmanned Advanced Lethality Course designed to accelerate training on small drone warfare, told Business Insider that the 2025 Operation Spiderweb is "the one event that I teach to the students."
Offensive potential
In the operation, Ukraine smuggled drones into Russia, drove them to positions close to Russian airfields, and launched them at strategically valuable aircraft. The Ukrainian drones hit 41 Russian warplanes and caused an estimated $7 billion in damage.
The strikes showed how arsenals of small, cheap drones can destroy high-value military assets far from the front — and how difficult they are to defend against.
Ukraine released videos of its drones targeting and hitting Russian military aircraft.
X/DefenseU
The operation was complex and took roughly a year and a half of planning, but, Martin said, it showed "that a small amount of money could be spent to destroy something at the strategic level," in this case, bombers and other high-dollar aircraft.
It cost Russia billions of dollars when it "is already hurting financially from being in a prolonged war."
Seeing that kind of low-cost attack destroying assets that could take years to replace, she said, "was a big eye-opening experience for the world." It highlighted not only what was possible with attack drones on offense, but also critical vulnerabilities.
Defensive realizations
The Ukrainian operation sparked a realization in the West about the need for significantly more protection at air bases,especially those hosting essential mission tools, such as nuclear deterrence elements.
Lt. Gen. Andrew Gebara, the deputy chief of staff for strategic deterrence and nuclear integration for the US Air Force, said of the operation last year that "disruptive" technologies like the drones seen in the Ukraine war "will have big implications not just for our bomber force or our nuclear force but really any critical infrastructure."
"We have counter-drone capabilities at these bases. Do we need to continue to modernize? Do we need to accelerate?" he said. "Yeah, absolutely, all that."
The majority of the most strategic US air assets are based inside the continental US. American airpower also depends heavily on warplanes stationed at air bases around the world. Defending against drones has proven challenging at both home and abroad, as the Tower 22 disaster and a number of domestic incidents have highlighted.
A satellite view shows military aircraft, some sitting destroyed, at the Belaya air base, near Stepnoy, Irkutsk region, Russia, after Ukraine's Operation Spiderweb.
2025 Planet Labs PBC/via REUTERS
European air bases have likewise grappled with the challenge of drones, making the lessons of Operation Spiderweb particularly poignant.
RetiredAir Marshal Greg Bagwell, who spent 36 years in the British Royal Air Force and served as its director of joint warfare, said last month that Operation Spiderweb holds key lessons that NATO allies need to learn.
When it comes to modern drone warfare, the West has more to learn from operations like Spiderweb than from day-to-day front-line drone fighting, he said at the UK think tank Chatham House. The West doesn't necessarily need to engage in heavy quadcopter warfare at the front when it has artillery and substantial airpower.
"The lessons that we need to learn are more from Operation Spiderweb, where Ukraine employed these drones in a much more sophisticated way and really did start to take out some significant targets," Bagwell said. That operation had a high-level strategic effect on a stronger adversary for a comparatively lower cost. It's asymmetric warfare that the West can't ignore.
Picking up lessons from the war
The US is using drone warfare in ways beyond what Spiderweb demonstrated, drawing on other lessons from the war. In its war with Iran that started last month, it has used drones to attack Iranian targets, including the new one-way attack LUCAS drones.
It's also still employing traditional drone tactics, using platforms like the uncrewed strike and reconnaissance drone MQ-9 Reaper.
The Army's new drone course is just one of the many ways that it is advancing its drone warfare capabilities, along with other moves like plans to buy at least a million drones in the next two or so years. Allies across NATO are taking similar steps.
Martin said their power is undeniable, and the course itself was created because the Army could see that it was behind in small drone warfare and needed to fix that. But the US is not in the same existential fight that Ukraine is, nor is it facing the same weapons shortages.
Drones have kept Ukraine in the fight against Russia even as other weapons ran out. They haven't been decisive, though, indicating that deep stocks of traditional and advanced weaponry still matter.
Bagwell also cautioned against leaning too heavily on drones. He said that drones have been "hugely useful" for Ukraine, but "these have not won the war for either side."
He said that Ukraine has "had to adapt and fight the way they can only fight, and I applaud them for what they have done. But there is a question for us in the West as to whether that is the way we want to fight."
It announced late last week that it will no longer fly from Chicago O'Hare and Washington Dulles Airports starting June 4.
The move is part of its "ongoing efforts to refine its network," it added.
However, it said there won't be any "significant changes" to flight availability from the cities because it's still operating at other nearby airports: Chicago Midway (MDW), Baltimore/Washington International (BWI), and Washington Reagan National (DCA).
O'Hare and Dulles are both popular international airports, ranked third and 22nd in the US, respectively, by passenger numbers. That heightened competition drives up operating costs and gate fees, which isn't ideal for a budget carrier like Southwest.
Meanwhile, Midway is a major hub for Southwest. It carries over 90% of passengers there, according to the Bureau of Transportation Statistics.
Data from the aviation analytics firm Cirium shows over 6,000 Southwest flights scheduled from there this month. That's more than 13 times as many as from O'Hare.
"We are confident we can serve Chicagoland from our long-standing base at Midway, where we will continue to offer service to more than 80 destinations, including the 15 markets we serve from O'Hare," the airline said.
It comes as United Airlines and American Airlines are fighting for dominance at O'Hare. The former is increasing its flight schedule and working to acquire two gates from Spirit Airlines' bankruptcy proceedings.
Southwest said that operating from O'Hare "continues to be challenging." It only started flights there in 2021.
In and around the nation's capital, the airline is similarly exiting an airport where it has a weaker presence.
Cirium data shows just 93 Southwest flights scheduled from Dulles this month: Twice daily to Denver, and once a day to Phoenix.
United Airlines is the main player there with a majority of the market share.
Meanwhile, Southwest operates nearly three-quarters of flights from Baltimore. It's the second-biggest airline at Reagan National, behind American on 27%, according to the Bureau of Transportation Statistics.
Southwest said it is "the largest carrier in the Washington area in terms of passengers carried."
It will offer up to 271 departures to 79 nonstop destinations from DCA and BWI, it added.
Frontline employees at O'Hare and Dulles will be able to bid for positions at other airports where Southwest operates, the airline said.
Os índices de Wall Street encerraram a sessão desta sexta-feira (13) em queda, diante da alta do petróleo acima dos US$ 100. Os dados de inflação e mercado de trabalho ficaram em segundo plano.
Confira o fechamento dos índices:
Dow Jones: -0,26%, aos 46.558,47 pontos;
S&P 500: -0,61%, aos 6.632,19 pontos;
Nasdaq: -0,93%, aos 22.105,35 pontos.
O S&P 500 atingiu uma nova mínima para 2026 no pregão de hoje e, na semana, acumulou queda de 1,6%. Com isso, o índice iniciou a primeira sequência de três semanas de perdas em cerca de um ano.
O Dow Jones caiu cerca de 2%, enquanto o Nasdaq recuou 1,3% no acumulado.
O que mexeu com Wall Street hoje?
O conflito no Irã, em seu 14º dia de combates, não mostrou sinais de arrefecimento. Mais cedo, o presidente dos Estados Unidos, Donald Trump, afirmou que cabe à ele decidir sobre o término da guerra. Trump prometeu que os EUA atingirão “com muita força na próxima semana” o Irã.
Os Estados Unidos ainda emitiram uma isenção de 30 dias para que os países comprem produtos petrolíferos russos sancionados que estão atualmente no mar, na esperança de aliviar os preços do petróleo e do gás impulsionados pela guerra que EUA e Israel estão travando contra o Irã.
Apesar disso, os contratos mais líquidos do petróleo Brent para maio fecharam com avanço de 2,67%, a US$ 103,14 o barril, na Intercontinental Exchange (ICE), em Londres. Na semana, a commodity acumulou alta de 11,27%.
Em segundo plano, o índice de preços de gastos com consumo (PCE, em inglês) registrou alta de 0,3% na passagem de dezembro para janeiro, ligeiramente abaixo do consenso do mercado, segundo a FactSet, de avanço de 0,4%.
A métrica é a mais utilizada pelo Federal Reserve (Fed, o banco central dos EUA) ao olhar para a inflação.
Já o núcleo da inflação, que exclui alimentos e energia, aumentou 0,4%. No comparativo anual, o índice subiu 2,8% e o núcleo 3,1% — ambos acima da meta de 2% perseguida pelo Federal Reserve.
Além disso, o Departamento de Trabalho dos EUA informou que as vagas de emprego em aberto nos Estados Unidos aumentaram em 396.000 em janeiro, a 6,946 mihões no último dia de janeiro.
As contratações, em contrapartida, foram fracas, o que é consistente com um mercado de trabalho estável.
Segundo a ferramenta FedWatch, do CME Group, as apostas para a retomada no corte de juros pelo Fed migraram para outubro, após os dados do PCE e do Jolts divulgados nesta manhã. Antes, o mercado via chance maior de reduções nos juros em dezembro.
Delta Air Lines' service from New York's JFK Airport (pictured) to London Heathrow is up from $285 to $553 over a month.
CHARLY TRIBALLEAU/AFP via Getty Images
War in the Middle East has pushed fuel costs, and therefore airfares, sharply higher.
Business Insider charted the increase in ticket prices for three major flight paths in recent weeks.
Fares from New York to LA, New York to London, and from the US mainland to the Caribbean have jumped.
Your next flight could be twice as expensive because the Iran war is causing volatility in oil prices.
Brent crude is up more than 50% over the past month, to around $101 a barrel. Jet fuel costs are rising faster. The Argus US Jet Fuel Index is up 72% over the same period.
That spells difficulty for airlines because jet fuel is typically their biggest expense after labor. While many airlines around the world hedge against fuel costs, most American ones do not.
Using data from Deutsche Bank, Business Insider charted rising airfares in three major markets.
The data looks at the lowest available published fares 21 days in advance of the flights. The published fare doesn't necessarily mean a ticket has been purchased for that amount, the Deutsche Bank research analysts said.
Cross-country flights, often known in the industry as transcontinental flights, have seen the biggest week-over-week spike — more than double, on average.
New York to Los Angeles is the country's busiest domestic route, with a capacity of 3.4 million seats out of JFK Airport last year, according to OAG data.
The average price of a transcontinental flight has risen from $167 to $414, Deutsche Bank's analysis showed. In the past week, the average has spiked 107%.
United Airlines is offering flights from Washington Dulles Airport to San Francisco for $502, up from $149 a month ago.
International business travellers are also seeing flight prices rise.
New York to London is the country's most popular international route, and the 10th-busiest in the world. Nearly 4 million seats were scheduled on flights between JFK and Heathrow last year, per OAG.
While the average Transatlantic flight is some 40% more expensive than a month ago, there are bigger rises for the New York-London route. However, it also appears more volatile here with a big dip last week.
Delta Air Lines' service is up from $285 to $553 over the past month, while United's is up to $846. That's a 177% rise compared to a week earlier, according to Deutsche Bank's analysis.
JetBlue's flight from New York to Santo Domingo, Dominican Republic, has risen from $165 to $566 on March 27.
Compared to a year earlier, that's a more than fourfold rise, Deutsche Bank found.
Southwest Airlines' flight from Baltimore to Montego Bay, Jamaica, has more than doubled over the past week. And Alaska Airlines' service from Los Angeles to San Jose, Costa Rica, is up 40% compared to a week earlier or 120% versus a year ago.
Os índices de Wall Street encerraram a sessão desta quarta-feira (11) sem direção única com expectativa de fim próximo da guerra no Irã e nova valorização do petróleo no mercado internacional. Os dados de inflação ficaram em segundo plano.
Confira o fechamento dos índices:
Dow Jones: -0,61%, aos 47.417,27 pontos;
S&P 500: -0,08%, aos 6.775,80 pontos;
Nasdaq: +0,08%, aos 22.716,13 pontos.
O que mexeu com Wall Street hoje?
O conflito no Irã entrou em seu 12º dia de combates com uma escalada nas tensões. Durante a madrugada, o comando militar iraniano atacou três navios no Golfo Pérsico.
O comando militar do país persa também afirmou que o mundo deve estar preparado para o petróleo atingir US$ 200 por barril. “Prepare-se para que o petróleo chegue a US$ 200 o barril porque o preço do petróleo depende da segurança regional que vocês desestabilizaram”, disse Ebrahim Zolfaqari, porta-voz do comando militar do Irã, em comentários dirigidos aos Estados Unidos.
Até o momento, não houve nenhuma trégua em terra, nem qualquer sinal de que navios já podem navegar com segurança pelo Estreito de Ormuz – por onde 20% do petróleo do mundo é escoado em tempos de normalidade geopolítica – , na pior interrupção do fornecimento de energia desde os choques do petróleo da década de 1970.
Hoje, os contratos futuros do Brent, com vencimento em maio, fecharam com alta de 4,76%, a US$ 91,98 o barril na Intercontinental Exchange (ICE), em Londres.
Por outro lado, o presidente dos Estados Unidos, Donald Trump, disse que as forças militares atingiram 28 minas no Irã, horas depóis de reafirmar que “praticamente não há mais nada” para atacar no Irã e que a guerra naquele país terminará “em breve”. “Pequenas coisas aqui e ali. Quando eu quiser que isso acabe, vai acabar”, declarou Trump em entrevista ao site Axios.
O presidente também disse que não está preocupado com ataques apoiados pelo Irã em solo norte-americano. A declaração foi feita a jornalistas na Casa Branca e após o FBI alertar para a possibilidade de drones iranianos atingirem a costa oeste dos EUA, segundo a ABC News.
Além disso, a Agência Internacional de Energia (AIE) liberou 400 milhões de barris de petróleo das reservas de 32 países-membros na tentativa de conter a alta nos preços de energia em meio a disparada recente dos preços do barril do óleo bruto.
Os dados macroeconômicos ficaram em segundo plano. O índice de preços ao consumidor (CPI, na sigla em inglês) subiu 0,3% no mês de fevereiro, segundo dados do Departamento do Trabalho do país. No acumulado de 12 meses, o CPI acumula alta de 2,4%.
Embora o dado não seja a referência inflacionária do Federal Reserve (Fed), o CPI ‘ajuda’ o mercado a calibrar as apostas sobre a trajetória dos juros nos Estados Unidos. Agora os traders veem a retomada de ciclo de corte nos juros apenas em setembro, ante a expectativa anterior de julho, em temor dos impactos inflacionários da guerra no Irã atráves dos preços de energia.
Segundo Thiago Duarte e Guilherme Guttilla, se a retenção ganhar força a partir de agora, apostar em uma reversão significativa de preços parece uma decisão difícil.
“Isso deve resultar em um ambiente de margens mais pressionado para frigoríficos, e por isso projetamos queda nas margens em 2026 em relação a 2025”, explicam.
De acordo com os dados mais recentes do Instituto Brasileiro de Geografia e Estatística, o abate de bovinos atingiu 42,7 milhões de cabeças em 2025, alta de 7,6% ano contra ano, com crescimento de 13% apenas no 4º trimestre.
Ao mesmo tempo, os preços de bezerros subiram de forma agressiva, fortalecendo o incentivo para os pecuaristas iniciarem a retenção de vacas.
O que é o ciclo do boi?
Embora pareça complexo, o ciclo pecuário é essencialmente determinado pela oferta de gado. Os preços tendem a se mover de forma inversa à proporção de vacas abatidas — ou seja, quanto menor o abate de fêmeas, maior tende a ser o preço do boi.
Quando menos fêmeas são enviadas aos frigoríficos, a oferta de animais para abate diminui, pressionando os preços para cima. Quando ocorre o contrário, com maior envio de vacas para o abate, a oferta aumenta e os preços geralmente recuam.
Nos últimos anos, a oferta atingiu níveis historicamente elevados, o que pressionou os preços do gado para baixo até meados de 2024. Desde então, porém, os preços voltaram a subir — um movimento que chama atenção porque o ritmo de abate continua forte.
Além disso, um ambiente favorável para exportações, puxado pelos Estados Unidos e pela China, provavelmente ajudou a sustentar a disposição dos frigoríficos em pagar mais pelo gado, mesmo com a recente valorização dos preços.
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