The most important stories, explained through the lens of business. A podcast about money, business and power. Hosted by Kate Linebaugh and Ryan Knutson. The Journal is a co-production from Gimlet Media and The Wall Street Journal.
The Wall Street Journal & Gimlet
25 years ago, Britain handed Hong Kong back to China. We meet two Hong Kong artists whose friendship has survived personal, political and creative differences in a shared art studio for 13 years. Now, with China exerting more power, one of them is choosing to leave the city for good. Learn more about your ad choices. Visit megaphone.fm/adchoices
Peshtigo, Wisconsin, is grappling with a crisis: Chemicals known as PFAS have leached from a nearby industrial site into the town's groundwater. WSJ's Kris Maher traveled to the town to report on what the community is doing and how the contamination has affected people's health and lives.Further reading: -A Wisconsin Town With Contaminated Drinking Water Must Decide Its Future Learn more about your ad choices. Visit megaphone.fm/adchoices
As concerns grow over climate change and high oil prices, the U.S. and Europe are starting to build new nuclear power plants, after decades of favoring other energy sources. WSJ's Matthew Dalton explains why those nations have lost some of their expertise in building nuclear plants, causing significant delays.Further reading -Nuclear Power Is Poised for a Comeback. The Problem Is Building the Reactors Learn more about your ad choices. Visit megaphone.fm/adchoices
Recent moves by the Biden Administration to rein in the vaping market and nicotine levels in cigarettes could hit the tobacco company Altria Group hard, as it has major investments in both markets. WSJ's Jennifer Maloney unpacks how the latest moves fit within decades of public health efforts. Further Reading: - Biden Administration to Pursue Rule Requiring Lower Nicotine Levels in US Cigarettes - FDA to Order JUUL Cigarettes off US Market Learn more about your ad choices. Visit megaphone.fm/adchoices
Earlier this month, an indigenous expert and a British journalist went missing in an area of dense Amazon rainforest. The disappearance of Bruno Pereira and Dom Phillips sparked an international outcry. WSJ's Luciana Magalhaes and Samantha Pearson explain what the two men's disappearance and eventual fate reveal about the state of the Amazon. Further Reading: - Brazilian Police Probe Illegal Fishermen Over Amazon Double Homicide - Fisherman Confessed to Killing Dom Phillips, Brazilian Police Say - Brazilian Military Scours Amazon for Missing Journalist - Brazilian Navy Searches for Missing British Journalist in Amazon Learn more about your ad choices. Visit megaphone.fm/adchoices
Today, the Supreme Court overturned Roe v. Wade, ending the federal right to an abortion. WSJ's Laura Kusisto breaks down the decision and explains how state governments are responding. Plus, a woman who runs clinics that provided abortions in Oklahoma and Texas shares how restrictions have affected her patients. Further Reading: -Supreme Court's Abortion Decision Sparks Immediate Action From States -Fall of Roe v. Wade Upends Abortion Landscape for American Women Further Listening: - The Potential End of Roe v. Wade Learn more about your ad choices. Visit megaphone.fm/adchoices
Inflation is the worst it's been in more than 40 years. But one bright spot for consumers might be found at the grocery store: rotisserie chickens. WSJ's Annie Gasparro chronicles the history of America's love for the quick and versatile meal, and what a "rotisserie chicken economic index" might say about this inflationary moment.Further Listening:-Inflation Is Happening. Should You Be Worried? Further Reading:-Rotisserie Chickens: The '90s Gift to Supermarkets That Keeps on Giving Learn more about your ad choices. Visit megaphone.fm/adchoices
Vince McMahon, the CEO of World Wrestling Entertainment, or WWE, stepped aside as CEO and chairman of the company last week after allegations surfaced that he had an affair with a former employee and agreed to pay $3 million to keep it secret. WSJ's Ted Mann explains what's at stake for the company. Further Reading: -WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say -WWE's Vince McMahon Steps Back From CEO Role Amid Misconduct Probe Learn more about your ad choices. Visit megaphone.fm/adchoices
Record-breaking high temperatures in India have wreaked havoc on crops like mangoes, which are known there as the "king of fruits." As WSJ's Shan Li explains, the devastation is threatening the livelihoods of farmers and raising food prices for the country's nearly 1.4 billion people.Further reading: -Heat Wave Devastates India's Mango Harvest Learn more about your ad choices. Visit megaphone.fm/adchoices
The biggest pop band in the world right now is the seven member K-Pop sensation, BTS. This week, the band released a video signaling that they're tired and want a break. WSJ's Neil Shah explains why the group has had breakout success and may need to take a hiatus. Further Reading: - K-Pop Band BTS to Focus on Solo Projects Learn more about your ad choices. Visit megaphone.fm/adchoices
To keep up with increased demand during the pandemic, Amazon hired hundreds of thousands of people and massively expanded its logistics network. Now, demand is falling, creating a problem for the company's new CEO, Andy Jassy. WSJ's Dana Mattioli explains how Jassy is trying to scale back. Further Reading: - Andy Jassy's First Year at Amazon: Undoing Bezos-Led Overexpansion Further Listening: - Amazon After Bezos Learn more about your ad choices. Visit megaphone.fm/adchoices
Earlier this year, it seemed like celebrities everywhere were promoting cryptocurrency and NFTs. But then, in early May, the markets crashed. WSJ's Ellen Gamerman explains how celebrities got hooked on crypto in the first place, and how they're responding now that the value of these assets is plummeting.Further Reading: -Reese Witherspoon and Gwyneth Paltrow Push for Crypto Sisterhood -NFT Sales Are Flatlining Further Listening: -How An Art World Outsider Landed a $69 Million Sale Learn more about your ad choices. Visit megaphone.fm/adchoices
It's a teenage dream. Unemployment among teens is near its lowest level in decades as business owners look to solve a hiring crunch. We talk to WSJ's Kathryn Dill about the bargaining power teens have in today's job market. Further Reading: - Teens Take Up More Jobs, and More Pay, in Tight Labor Market - Teen Babysitters Are Charging $30 an Hour Now, Because They Can Further Listening: - Why Workers Can't Get Enough Hours, Even in a Jobs Boom - Why Is Everyone Quitting? Learn more about your ad choices. Visit megaphone.fm/adchoices
Last week, the first LIV Golf event, a Saudi Arabian-funded golf tournament, officially launched. The new tour is offering professional golfers a lot of money to participate. WSJ's Andrew Beaton explains why the rival PGA Tour is punishing players who try to participate in both. Further Reading: - The Good. The Bad, The Weird At The First Saudi-Funded Liv Golf Event. Learn more about your ad choices. Visit megaphone.fm/adchoices
In more than 20 years of reporting on cybercrime, Wall Street Journal reporter Robert McMillan has never come face-to-face with a criminal hacker. Until he met Dmitry Smilyanets. Dmitry grew up during the fall of the Soviet Union, a computer-loving kid with big dreams. He became part of a generation of Russian hackers who cut their teeth in the early days of the internet and went from stealing passwords to hacking some of America's biggest companies. This is the story of how Dmitry became one of the best. Learn more about your ad choices. Visit megaphone.fm/adchoices
In 2008, Dmitry Smilyanets and his crew of hackers pulled off one of the biggest hacks in history. It made Dmitry millions of dollars, some of which he used to build an esports empire. But the hack put a target on Dmitry's back. A U.S. prosecutor, Erez Liebermann, was tasked with bringing Dmitry to justice. In this episode, Erez follows Dmitry's every move — chasing him around the world. Learn more about your ad choices. Visit megaphone.fm/adchoices
After his arrest in Amsterdam, the threat of a decades-long prison sentence loomed over Dmitry. If he cooperated with American prosecutors, he could lower his sentence. But he'd have to betray his hacking collaborator and best friend, Vladimir Drinkman. Dmitry takes the deal and starts working with the U.S. government while he serves his time. And in the years since, Dmitry has had a new vantage point to watch the evolving threat hackers pose. Increasingly, hackers are targeting public institutions and infrastructure, putting many Americans at risk. It's now Dmitry's job to help stop them. Learn more about your ad choices. Visit megaphone.fm/adchoices
In February, Frontier Airlines announced its plan to purchase fellow budget airliner, Spirit. But JetBlue's surprise competing bid for Spirit sent the three airlines into a messy, public love triangle. WSJ's Alison Sider reports on how the possible mergers will shake up flying in the U.S. Further Reading: - JetBlue Boosts Breakup Fee, Pledges Dividend in Bid to Woo Spirit Holders - Spirit Airlines Delays Shareholder Vote as It Considers Frontier, JetBlue Offers Further Listening: - Frontier, Spirit and the Future of Low-Cost Airlines Learn more about your ad choices. Visit megaphone.fm/adchoices
Earlier this week, President Biden announced emergency measures to get the solar power industry moving again after a major standstill that had pitted domestic manufacturers against solar panel installers. WSJ's Phred Dvorak explains how tiny Auxin Solar became the most-hated solar company in America. Further Reading: - The Most-Hated Solar Company in America - Biden Invokes Emergency Power in Bid to Resolve Solar Import Dispute Learn more about your ad choices. Visit megaphone.fm/adchoices
Wall Street Journal reporter Bob McMillian has spent years trying to find a Russian hacker who would tell him their story. And then, he met Dmitry Smilyanets, the man who managed one of the most notorious hacking teams to come out of Russia. Dmitry's story is the story of how a generation of hackers grew up in Russia. It follows the dramatic game of cat and mouse that America plays trying to catch cyber criminals like Dmitry. And in Dmitry's case, it ends with him facing a choice: go to prison for decades, or help the U.S. government stop hackers like himself. This is a new series from the Journal - Hack Me If You Can – the story of a Russian cyber criminal who went to the other side. All episodes out June 10th. Learn more about your ad choices. Visit megaphone.fm/adchoices
More than a dozen states have legalized online sports gambling since the Supreme Court repealed a federal ban in 2018. That's opened doors for a burgeoning new industry, and companies like FanDuel are trying to capitalize. CEO Amy Howe shares her views on the industry, and she makes her case for legal sports betting. Further Reading: - FanDuel CEO Amy Howe Says Black Market Gambling Poses Threat to Online Sports Betting - DraftKings, FanDuel Battle Tribes for Control of California Sports Betting Learn more about your ad choices. Visit megaphone.fm/adchoices
Inflation is the worst it's been in 40 years. President Joe Biden says he has a plan to bring it down. WSJ's Amara Omeokwe talks about whether it will work. Further Reading: - Joe Biden: My Plan for Fighting Inflation Learn more about your ad choices. Visit megaphone.fm/adchoices
After 14 years at Facebook, COO Sheryl Sandberg announced this week that she's leaving the company. WSJ's Deepa Seetharaman describes how Sandberg helped build Facebook's business and faced the fallout of recent scandals. Further Reading: - Why Sheryl Sandberg Quit Facebook's Meta Further Listening: - 'The Facebook Files' from The Journal. Learn more about your ad choices. Visit megaphone.fm/adchoices
Things were already tough for Snap, Snapchat's parent company, thanks to big changes in the ad market. Then last week the company made a surprise announcement: It's worse than we thought. WSJ's Meghan Bobrowsky explains the reasons behind Snap's stock tumble, and why it's raising concerns about other tech companies too. Further Reading: - Tech Stocks Continue to Fall After Snap's Profit Warning - Snap Plunges, And There Goes Social Media's Online Ad Biz Learn more about your ad choices. Visit megaphone.fm/adchoices
This past weekend's release of Top Gun: Maverick -- the sequel to Tom Cruise's 1986 movie -- was record-breaking at the box office. But it also exposed the increasing power that China and its vast market has in Hollywood. WSJ's Erich Schwartzel explains how Top Gun: Maverick attracted Chinese financing -- and then lost it. Further Reading: - ‘Top Gun: Maverick' Loses Chinese Investor Due to Pro-U.S. Messaging Learn more about your ad choices. Visit megaphone.fm/adchoices
What is ESG? Some proponents see it as a way for investors to grow their wealth while fighting climate change and racism. But critics, like Elon Musk, call it an “outrageous scam.” WSJ's Amrith Ramkumar explains how “environmental, social and governance” became three of the hottest words on Wall Street. Further Reading: - Elon Musk Calls ESG ‘An Outrageous Scam' After Tesla Was Removed From Index - SEC Fines BNY Mellon Over ESG Claims - SEC Proposes More Disclosure Requirements for ESG Funds Learn more about your ad choices. Visit megaphone.fm/adchoices
A Marine died in Fallujah at the height of the Iraq War. Years later, his family found out his Purple Heart was listed on an auction site. WSJ's Ben Kesling, who once served in the same company as the Marine, tells the story of how he helped track it down. This episode was originally published in July 2021. Further Reading: - I Thought I Was Done With Iraq. Then a Fellow Marine's Purple Heart Turned Up at Auction. Learn more about your ad choices. Visit megaphone.fm/adchoices
Last year, Old Navy overhauled its women's clothes to make sizing more inclusive. But then its sales started falling. WSJ's Suzanne Kapner unpacks why the company's plan to reach more customers didn't work. Further Reading: - Old Navy Made Clothing Sizes for Everyone. It Backfired. - Old Navy to Scale Back Its Inclusive Sizing Strategy Learn more about your ad choices. Visit megaphone.fm/adchoices
Many of the deadliest mass shootings in the U.S. have involved an assault-style rifle like the AR-15. WSJ's Zusha Elinson reports on how Washington regulations have failed to stop the gun's rise to prominence. Further Reading: America's Failed Attempt to Ban Assault Weapons Further Listening: Red-Flag Laws, Their Application and One Mother's Experience Learn more about your ad choices. Visit megaphone.fm/adchoices
Kevin Paffrath is a social media influencer who dishes out financial advice on multiple platforms. He cashed in on young people's hunger for investment tips from non-traditional sources. But as WSJ's Robbie Whelan explains, Paffrath's followers became fickle when his advice turned cautious.Further Reading: -The Social-Media Stars Who Move Markets Learn more about your ad choices. Visit megaphone.fm/adchoices
Recent stock slides are approaching dangerous territory: a bear market. WSJ's James Mackintosh explains why a recent dramatic plunge in stock indexes is spooking investors, what it could mean for the wider economy, and the likelihood of the markets dipping into a bear market in the coming days. Further Reading: -Conditions Are Ripe for a Deep Bear Market Further Listening: -Can the Fed Lower Inflation Without Causing a Recession? Learn more about your ad choices. Visit megaphone.fm/adchoices
Billionaire hedge-fund manager Steve Cohen is trying to duplicate his financial success in his other major venture as owner of the New York Mets baseball team. And to do so, he's calling on some of the same people. WSJ's Juliet Chung and Jared Diamond explain why some of Cohen's hedge-fund employees are moonlighting for his team. Further Reading: - Steve Cohen's Secret Weapon for the Mets: His Hedge Fund Further Listening: - The Labor Dispute That Has Baseball on Hold Learn more about your ad choices. Visit megaphone.fm/adchoices
The U.S. is facing a massive shortage of baby formula. WSJ's Jesse Newman explains how the roots of the crisis lie in the industry's structure. And a mother in Kentucky describes her desperate search for formula for her son. Further Reading: - Why the Baby-Formula Market Is a Mess: Low Competition, High Regulation Learn more about your ad choices. Visit megaphone.fm/adchoices
The four-time World Cup-champion U.S. Women's National Soccer team has scored a new win: equal pay with the men's team. Collective-bargaining agreements between the women's and men's national teams and the United States Soccer Federation align the teams' pay and create a unique mechanism to share prize money from their respective World Cup competitions. We talk to U.S. Women's Soccer player Tierna Davidson about the landmark agreement and her role negotiating it. Further Reading: - U.S. Women's and Men's Soccer Teams Will Receive Equal Pay Under New Labor Deals Learn more about your ad choices. Visit megaphone.fm/adchoices
Cryptocurrencies are volatile, but so-called stablecoins were meant to be the exception. But after one major stablecoin, TerraUSD, crashed spectacularly, it caused ripple effects in cryptoland. WSJ's Caitlin Ostroff explains why regulators are spooked, and what this could mean for the broader economy. Further Reading: Crash of TerraUSD Shakes Crypto. ‘There Was a Run on the Bank. Cryptocurrency TerraUSD Falls to 11 Cents, Creator Announces Rescue Plan Further Listening: Bitcoin Comes Untethered Learn more about your ad choices. Visit megaphone.fm/adchoices
We speak with Rochelle Walensky, director of the Centers for Disease Control about eroding trust in public health, vaccine approvals for children under 5 and the one million Americans who have now died from COVID-19.Further Listening:The Future of Everything Festival Learn more about your ad choices. Visit megaphone.fm/adchoices
China's sputtering economy is altering the balance of power among its top leaders. For years, President Xi Jinping sidelined his second in command, Premier Li Keqiang, a proponent of economic liberalization. WSJ's Lingling Wei explains that Li is now gaining clout and pushing back on Xi's socialist policies. Further Reading: - China's Economic Distress Deepens as Lockdowns Drag On - China's Forgotten Premier Steps Out of Xi's Shadow as Economic Fixer Learn more about your ad choices. Visit megaphone.fm/adchoices
The digital startup Cerebral began prescribing ADHD drugs like Adderall over the internet, after federal rules loosened. But recently, there have been concerns from inside and outside the company that Cerebral was not careful enough. Now the company has stopped prescribing Adderall to new patients. WSJ's Rolfe Winkler reports. Further Reading: -Startups Make It Easier to Get ADHD Drugs. That Made Some Workers Anxious. -Cerebral Receives Subpoena From Federal Prosecutors Learn more about your ad choices. Visit megaphone.fm/adchoices
Fidelity Investments will be the first major retirement-plan provider to allow bitcoin in its 401(k) plans. WSJ's Anne Tergesen explains the move and the blowback that followed. Further Reading: -Fidelity to Allow Retirement Savers to Put Bitcoin in 401(k) Accounts -Labor Department Criticizes Fidelity's Plan to Put Bitcoin on 401(k) Menu Further Listening: -How Inflation is Causing Americans to 'Unretire' Learn more about your ad choices. Visit megaphone.fm/adchoices
The Federal Reserve has never managed to significantly decrease inflation without causing job losses, but it's trying to now. Central Bank officials hope they can cool down an overheated economy by raising interest rates. But as WSJ's Jon Hilsenrath explains, the Fed risks triggering a recession. Further Reading: -Hot Economy, Rising Inflation: The Fed Has Never Successfully Fixed a Problem Like This Further Listening: -The Fed's Shifting Inflation Message Learn more about your ad choices. Visit megaphone.fm/adchoices
Every year, more than a million U.S. high-school students learn about investing through stock-picking games. But what do these games really teach? WSJ's Jason Zweig explains the shortfalls of traditional stock-market games, and teacher Mike Scanlan describes the different approach his school is taking. Further Reading: -What Teenagers Really Learn From Stock-Market Games -Current Baker Scholar and Alumnus Partner to Improve High School Investors Club Learn more about your ad choices. Visit megaphone.fm/adchoices
Last year, Facebook blocked news pages to pre-empt Australian legislation that would force it to pay publishers for content. But it also took down the Facebook pages of non-news organizations like hospitals, emergency services and charities. Was the move inadvertent or a negotiating tactic? We talk to WSJ's Keach Hagey about what she learned. Further Reading: Facebook Deliberately Caused Havoc in Australia to Influence New Law, Whistleblowers Say Further Listening: The Facebook Files, a Podcast Series Learn more about your ad choices. Visit megaphone.fm/adchoices
In 1838, the Jesuits who founded Georgetown University sold 272 enslaved people to pay off the school's debts and keep the college afloat. Nearly 200 years later, the Jesuits want to make amends. But as Lee Hawkins explains, the path to racial healing can be a messy one. Further Reading: - For Georgetown, Jesuits and Slavery Descendants, Bid for Racial Healing Sours Over Reparations Learn more about your ad choices. Visit megaphone.fm/adchoices
After decades of debate, the Food and Drug Administration is proposing a ban on menthol cigarettes. A researcher of the tobacco industry explains the benefits of a potential ban, and WSJ's Jennifer Maloney explains why some want menthols to stay on the market. Further Reading: - FDA Advances Ban on Menthol Cigarettes - Why Does the U.S. Want to Ban Menthol Cigarettes? Learn more about your ad choices. Visit megaphone.fm/adchoices
The European Union announced a proposal to ban purchases of Russian oil exports, after Germany, Europe's biggest economy, dropped its opposition. WSJ's Bojan Pancevski explains why Germany was such a holdout. Further Reading: -EU Proposes Ban on Russian Oil Imports, Sending Prices Higher -Germany Drops Opposition to Embargo on Russian Oil Further Listening: -If Russia Invades Ukraine, Can the U.S. Deliver on Sanctions? Learn more about your ad choices. Visit megaphone.fm/adchoices
A leaked draft opinion from the Supreme Court indicates the court may be preparing to overturn Roe v. Wade, the 1973 precedent that established a constitutional right to an abortion. WSJ's Brent Kendall explains what this could mean for women in America and why this is a significant moment in the history of the court. Further Reading:Supreme Court Is Investigating Leak of Draft Opinion Overruling Roe v. Wade Learn more about your ad choices. Visit megaphone.fm/adchoices
Economic data from March revealed a new trend: hundreds of thousands of Americans are "unretiring" and returning to the workforce. WSJ's Harriet Torry reports that rising inflation is making retirement unsustainable for many. We also hear from two retirees who have started looking for work. Further Reading: -Everything Costs More, and That's Disrupting Retirement for Many Further Listening: -Why Older Americans Are Fleeing the Workforce Learn more about your ad choices. Visit megaphone.fm/adchoices
As many companies evaluate how to return to the office, Airbnb announced a new ‘work-from-anywhere' policy that will let its employees work remotely from 170 countries. Airbnb CEO Brian Chesky explains how he arrived at the idea, and how the policy could serve as a blueprint for others companies. Learn more about your ad choices. Visit megaphone.fm/adchoices
With rising housing prices and concerns about affordability, a new approach to solving the problem has emerged. Its answer is to build more housing of all types. Meet the Yimbys. WSJ's Christine Mai-Duc explains the origins of the movement and how it's gaining traction around the country. Learn more about your ad choices. Visit megaphone.fm/adchoices
Governor Ron DeSantis revoked the theme park's self-governing privileges after Disney opposed Florida's "Don't Say Gay" bill. WSJ's Robbie Whelan explains the fight that led to this decision and what it might mean for one of the state's largest employers. Learn more about your ad choices. Visit megaphone.fm/adchoices
Afghanistan is dealing with an unprecedented humanitarian crisis, which has accelerated since the Taliban took power. Jobs are scarce, the nation's suffering a devastating drought and Afghans are going hungry. As WSJ's Sune Engel Rasmussen explains, Afghans are resorting to increasingly desperate measures to survive, such as selling kidneys. Learn more about your ad choices. Visit megaphone.fm/adchoices