The most important stories about money, business and power. Hosted by Ryan Knutson and Jessica Mendoza. The Journal is a co-production of Spotify and The Wall Street Journal.
Get show merch here: https://wsjshop.com/collections/clothing
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The most important stories about money, business and power. Hosted by Ryan Knutson and Jessica Mendoza. The Journal is a co-production of Spotify and The Wall Street Journal.
Get show merch here: https://wsjshop.com/collections/clothing
Copyright: Copyright © Dow Jones & Company, Inc. All rights reserved.
Before his downfall, Sam Bankman-Fried drew comparisons to Warren Buffett, J.P. Morgan and other titans of finance. As his trial approaches, WSJ’s Caitlin Ostroff charts the meteoric rise of crypto’s golden boy, exploring how he sold customers and powerful people on his ideas, while hiding secrets under the hood of his flashy crypto empire.
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Ties between Canada and India have sunk to a low. This week, Canadian Prime Minister Justin Trudeau alleged India was potentially involved in the killing of a Sikh separatist in a suburb of Vancouver, a charge India denies. WSJ’s Tripti Lahiri explains why the crisis is now ensnaring other big democracies.
Further Reading:
- India Suspends Visas for Canadians as Rift Over Killing Deepens
- India Blasts Canada Over Trudeau’s Allegation That It Played Role in Killing
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Rupert Murdoch, 92, announced he's stepping down as chairman of Fox and News Corp, the two companies that have made him a force in global media. WSJ's Amol Sharma discusses how Murdoch became a media tycoon and what comes next for his empire.
Further Reading:
-Rupert Murdoch to Step Down as Chair of Fox and News Corp After Seven-Decade Career
Further Listening:
-Behind the Breakup of Fox and Tucker Carlson
-Dominion Voting Systems vs. Fox News
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Federal Reserve officials voted to hold interest rates steady at a 22-year high but signaled they were prepared to raise rates once more this year to combat inflation. WSJ's Nick Timiraos explains the Fed’s “soft landing” goal of lowering inflation without crashing the economy.
Further Reading:
- Fed Holds Rates Steady but Pencils in One More Hike This Year
- Why a Soft Landing Could Prove Elusive
Further Listening:
- Will the Fed Stop Raising Interest Rates
- Homeowners Don’t Want to Sell. So Builders Are Cashing In.
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Sam Bankman-Fried built a crypto empire. Then the exchange he founded collapsed, revealing that billions of dollars of customer money was missing. Bankman-Fried was charged with fraud, and his trial begins Oct. 3. In a new series from The Journal, WSJ’s Caitlin Ostroff explores Bankman-Fried meteoric rise, devastating fall and the trail that will determine his future.
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A former Wells Fargo executive was recently sentenced for her role in the bank's 2016 fake account scandal. WSJ's Ben Eisen explains why that sentencing isn't the end of this story for Wells Fargo as the bank has struggled to overhaul the way it manages risks, even seven years later.
Further Reading:
-Former Wells Fargo Executive Avoids Prison Time in Fake-Accounts Scandal
-Wells Fargo Is Still in Fix-It Mode
Further Listening:
-Wells Fargo and the Fake-Account Fallout
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In 2006, after years of denial, ExxonMobil publicly acknowledged climate change for the first time. But internal documents show that behind the scenes, Exxon officials pushed to diminish concerns about climate change. WSJ’s Christopher M. Matthews breaks down the new findings.
Further Reading:
- Inside Exxon’s Strategy to Downplay Climate Change
- Exxon Predicts World Will Miss Climate-Change Targets
Further Listening:
- An Activist Investor and the Showdown Over Exxon’s Future
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For the first time, the United Auto Workers is striking all three Detroit car companies at once, targeting factories in Michigan, Ohio and Missouri. WSJ’s Nora Eckert explains the union’s unprecedented strategy and how much bigger the walkout could get.
Further Reading:
- UAW Goes on Strike Against GM, Ford and Stellantis
- UAW’s Strike Strategy: Start Small and Keep ’Em Guessing
Further Listening:
- Meet the Man Who Has Detroit on Edge
- Scandal Engulfs One of America’s Biggest Unions
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For years, West Virginia University, a state flagship, poured money into gleaming new research facilities and dormitories to attract new students. It had to borrow money to do so. The university now faces a huge deficit and major cuts. It's a problem facing many major public universities, as WSJ’s Melissa Korn explains.
Further Reading:
-West Virginia University Banked on Growth. It Backfired.
-Colleges Urged to Produce Better Information on How They Spend Money
-Colleges Spend Like There’s No Tomorrow. ‘These Places Are Just Devouring Money.’
Further Listening:
-Wesleyan’s President on Admissions Post-Affirmative Action
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Yesterday, Apple announced a new iPhone 15 with a USB-C charger, the same cable its competitors use. As WSJ’s Kim Mackrael and Sam Schechner explain, at least some credit for the change can go to the European Union bureaucrats who have been increasingly battling Big Tech.
Further Reading:
- America’s Tech Giants Rush to Comply With New Curbs in Europe
- He Took On the World’s Most Valuable Company—and Won
Further Listening:
- FTC Chair Lina Khan on Microsoft Merger, ChatGPT and Her Court Losses
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