🌏 Amazon’s spicy rebuttal

Good morning, Quartz readers!

Here’s what you need to know

The labor market is cooling, and bosses are using it to bring workers back to the office. Workers know it’s a buyer’s market for labor, so they’re less likely to push back.

… Meanwhile, unemployment rises as jobs growth misses the mark. The weakest February jobs reports in five years could drive the Fed to cut rates.

But, the trade war is disrupting the Fed’s plans to cut interest rates. Chair Jerome Powell says the agency is “focused on separating the signal from the noise as the economic outlook evolves.”

Tesla’s biggest Wall Street fan says concerns over Musk’s politics are overblown. Wedbush analyst Dan Ives argues Trump’s presidency was “the best thing” for Musk and Tesla.

However, Tesla’s stock wipeout slashed Musk’s net worth by over $150 billion. The eccentric founder’s valuation fell from a peak of $486 billion to $330 billion.

Elsewhere, Amazon’s executives get spicy over Microsoft’s Quantum computing claims. Amazon’s quantum tech head says Microsoft’s breakthrough doesn’t live up to the hype.

Costco shrugged off tariff concerns. Despite rising costs, the retailer’s bulk-buying model has customers snapping up groceries, electronics, and small electronics.

Walgreens wanted to rule. Then came Amazon, Theranos, and costly bets

Walgreens, once a pharmacy chain juggernaut, has fallen from grace.

The company was sold to Sycamore Partners for just $10 billion – down from its $100 billion valuation in 2015. Struggling to keep pace with Amazon and rivals like CVS, Walgreens faced costly investments in Theranos and failed tech innovations that only deepened its financial woes.

With nearly 100 years on the U.S. stock market, what’s next for Walgreens as it goes private? Quartz’s Francisco Velasquez has the details.

What are the 5 best U.S. cities for business trips?

Business travel is making a major comeback, with numbers returning to pre-pandemic levels last year. And while older generations may feel less enthusiastic about it, younger employees – especially Gen Z – are embracing the opportunity.

From industry conferences to client meetings, work-related trips are offering more than just a change of scenery. Many employees are also looking for perks like stipends for off-the-clock exploration, premium travel options, and the ability to use rewards for personal trips.

What are the top five most popular cities in America for business travel today? Quartz’s Madeline Fitzgerald breaks it down.

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Our best wishes on a safe start to the day. Send any news, comments, Walgreens hopes, or travel plans to [email protected]. Today’s Daily Brief was brought to you by Francisco Velasquez and Audrey McNamara.