The Journal.

There's a new social media platform for AI agents, but things are getting weird. It's called Moltbook, and agents use it to apparently talk about things like coding and dating profiles, but also about overthrowing their human overlords and forming their own lobster religion. Initially, Moltbook shocked even some of the most experienced AI researchers, but how much of that is just humans messing around? WSJ's Angel Au Yeung explains what's actually happening on the site and how it came to be. Ryan Knuston hosts. Further Listening: Vibe Coding Could Change Everything  AI Has Come for Advertising Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week, SpaceX and xAI, two companies controlled by Elon Musk, merged into a $1.25 trillion company. The deal combines a successful rocket and satellite business with an AI startup. Musk says the goal is to put AI data centers in earth's orbit. WSJ's Berber Jin reports on the deal. Jessica Mendoza hosts. Further Listening: The Woman Behind SpaceX Her Client Was Deepfaked. She Says xAI Is to Blame. Why Elon Musk's AI Chatbot Went Rogue Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Billionaire investor and CEO Ken Griffin runs one of the world's most successful hedge funds, Citadel. He's also a Republican who has been outspokenly critical of some of President Trump's policies. Griffin sat down with WSJ Editor in Chief Emma Tucker at WSJ Invest Live to discuss his concerns about political uncertainty, the dangers of crony capitalism and the erosion of ethics in public service. Further Listening:  - JP Morgan CEO Jamie Dimon on What's Next for the Economy - It's Almost 2026. How's the Economy Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Vibe coding, the process of turning a text prompt into actual software, has taken the AI world by storm. And it has investors in everything from software to legal services nervous. WSJ's Joanna Stern and Ben Cohen tell us about their experience using Claude Code to develop an article. Ryan Knutson hosts. Further Listening: The Era of AI Layoffs Has Begun Her Client Was Deepfaked. She Says xAI Is to Blame. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Over the last year, the dollar has been declining in value. And last week, President Donald Trump said he wasn't concerned about the recent slide. WSJ's Greg Ip explains how a weaker dollar fits into Trump's broader economic strategy to boost U.S. growth. Jessica Mendoza hosts.  Further Listening: - Who Is the New Fed Chair? - It's Almost 2026. How's the Economy? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Kraft macaroni and cheese has been a household staple for decades. But owing to shifting consumer tastes towards healthier options and a tumultuous corporate shakeup, Kraft's status as the big cheese is slipping. WSJ's Jesse Newman reports on how Kraft lost its dominance in the mac and cheese aisle, and what the company plans on doing about it. Jessica Mendoza hosts. Further Listening: - Kraft Heinz's Big Breakup - ‘It Came out of Nowhere': The Rise of Dr Pepper Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Trump will be nominating former Fed official Kevin Warsh to be the next chairman of the Federal Reserve. WSJ's Nick Timiraos profiles the pick, explores the lingering issues Trump has with the current Fed chair and details the implications for the U.S. economy. Jessica Mendoza hosts. Further Listening: - Who Will Be the Next Fed Chair? Maybe Kevin - Why is the Fed Chair Facing a Criminal Investigation? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Howard Rubin is a Wall Street legend, famous in the 1980s and ‘90s for being a risk-loving star trader. He also allegedly was involved in secret sex trafficking for years, hidden in a midtown penthouse. WSJ's Erich Schwartzel traces the saga and explains the allegations of abuse that ultimately led to Rubin's arrest. Ryan Knutson hosts. Further Listening: - The High Pressure Tactics Gloria Allred Uses On Her Own Clients - Behind the Scenes at Davos, Claims of a Toxic Boss Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Disney's largest source of revenue is its theme parks and cruises. The people responsible for designing those attractions are the secretive Imagineers. WSJ's Ben Fritz reports that the company is spending $60 billion to create more Disney magic and it's up to the Imagineers to make it work. Ryan Knutson hosts.  Further Listening: - Disney's Big AI Dilemma - Disney Gets Into Gambling Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ashley St. Clair, a conservative influencer who had a child with Elon Musk, sued Musk's artificial intelligence company xAI, alleging that its chatbot Grok generated and shared nonconsensual, sexually explicit images of her. St. Clair's lawsuit is emblematic of the thorny legal issues that surround new AI tools and deepfakes. It also confronts the question: Who is responsible for the content that users prompt chatbots to create? Jessica Mendoza spoke with St. Clair's lawyer, Carrie Goldberg, about the lawsuit. Further Listening: - Why Elon Musk's AI Chatbot Went Rogue - How Elon Musk Pulled X Back From the Brink Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Over the weekend, a federal officer shot and killed Alex Pretti, a 37-year-old ICU nurse in Minneapolis. WSJ's Joe Barrett describes how events unfolded in the wake of Pretti's killing, and WSJ's Michelle Hackman breaks down how ICE tactics have led to clashes with local residents. Jessica Mendoza hosts. Further Listening: The Florida Cops Who Act as ICE Agents The Hyundai Plant Raided By Immigration Authorities Inside the ICE Hiring Blitz Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Danielle Gansky was diagnosed with attention-deficit/hyperactivity disorder at age 7. Soon, she was prescribed a daily cocktail of powerful psychiatric drugs that she would be on for years. A new Wall Street Journal investigation reveals that children who start on ADHD medication at a young age are more than five times as likely to be prescribed additional psychiatric drugs. WSJ's Shalini Ramachandran breaks down that investigation. WSJ's Ryan Knutson hosts. Further Listening: - Is America on Too Many Psychiatric Drugs? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Gwynne Shotwell, president of SpaceX, has overseen the rise of the rocket and satellite company. She's also maintained a long relationship with the company's CEO Elon Musk. Now, with a potential IPO looming, WSJ's Micah Maidenberg reports on how expansive Shotwell's role is, and explains the big year ahead. Jessica Mendoza hosts.  Further Listening: - When Elon Musk Moves In Next Door- Elon Musk's Unusual Relationships With Women at SpaceXSign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The explosive growth of artificial intelligence is straining the U.S. power grid and driving up electricity prices. Tech giants and politicians are scrambling to determine who will pay for the massive infrastructure needed to keep the lights on. WSJ's Jennifer Hiller explains what this energy crisis means for the future of the power industry. Ryan Knutson hosts. Further Listening: - AI Has Come for Advertising - The Era of AI Layoffs Has Begun Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Over the weekend, President Trump intensified calls for the U.S. to acquire Greenland, a territory controlled by Denmark. WSJ's Max Colchester explains how European leaders are reacting to Trump's push for the arctic island, and what might happen next. Jessica Mendoza hosts. Further Listening: - Trump's 'Donroe Doctrine' on Foreign Policy - Greenland Has Tons of Minerals. So Where Are All the Miners? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this mini-episode of The Journal, WSJ's Katherine Bindley investigates a recent change in behavior among San Francisco's ubiquitous Waymos, the self-driving robotaxis. Suddenly, the cars are behaving less like deferential drivers and more like New York cabbies. Jessica Mendoza hosts. Further Listening: - How Waymo Won Over San Francisco - The Future of Self-Driving Cars Is Here Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

From a young age, it was clear that Phillip Bell was a football phenom. He got his first college scholarship offer in middle school. But that talent drew Bell into Southern California's unruly youth football black market. In that system, high schoolers and their families are paid millions to play football. WSJ's Harriet Ryan reports on a system that ultimately tore Phillip Bell's family apart. Ryan Knutson hosts. Further Listening: - NCAA President on a New Era for College Sports  - Private Equity Finally Can Get a Piece of the NFL Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

For the past two weeks, Iran has been consumed by protests that have resulted in a heavy government crackdown with deaths estimated in the thousands. But the prelude to the unrest wasn't just political. It stemmed from a deep financial crisis, and specifically, as WSJ's Jared Malsin explains, the collapse of an obscure and indebted bank. Jessica Mendoza hosts. Further Listening: - Iran Retaliates After U.S. Strike. How Could This End? - Iran May Be Running Out of Options Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump's sweeping plan for Venezuelan oil is coming into focus. It includes cutting off illicit oil exports, gaining more control over Venezuela's state-run oil company and rebuilding infrastructure. Some of these goals require the participation of U.S. oil companies, but those companies are reluctant to invest in the still-unstable country. WSJ's Andrew Restuccia explains Trump's gambit to bring down oil prices and reshape the global oil market. Ryan Knutson hosts. Further Listening: - Trump's 'Donroe Doctrine' on Foreign Policy - Was Maduro's Capture About Oil? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

After receiving grand jury subpoenas from the Justice Department last week, Federal Reserve Chair Jerome Powell said the investigation was part of a pressure campaign to get the Fed to lower interest rates. WSJ's Nick Timiraos explains how the investigation could change who controls monetary policy in the future. Jessica Mendoza hosts. Further Listening: - Is the Economy Getting Better or Worse? The Fed Says It's Hard to Tell - Who Will Be the Next Fed Chair? Maybe Kevin Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

An AI bubble. Geopolitical turmoil. Inflation and interest rates. These things and more could rock the stock market in 2026, and investors have to be prepared. WSJ's Jason Zweig, writer of The Intelligent Investor column and newsletter, discusse s how investors can best set up their portfolios for the new year and breaks down his outlook for the year ahead. Ryan Knutson hosts. Further Listening: - It's Almost 2026. How's the Economy? - Investment Accounts for Babies Are Coming. Wall Street Can't Wait. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

In August, a troubled man named Stein-Erik Soelberg killed his mother and took his own life. In the months leading up to the tragedy, Soelberg had been engaging in delusion-filled conversations with ChatGPT. Now, his mother's estate has filed a wrongful death lawsuit against OpenAI, and Soelberg's son Erik wants the tech giant to take responsibility for a product that he believes deepened his father's decline. WSJ's Julie Jargon tells Ryan Knutson about the challenges facing OpenAI when it comes to mental health.  Further Listening: - A Troubled Man and His Chatbot - OpenAI's ‘Code Red' Problem Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Netflix is in a high-stakes fight to buy storied movie studio Warner Bros. The company has a $72 billion deal in hand, but rival Paramount isn't going down without a fight. At the helm of the streaming giant is co-CEO Ted Sarandos, whose strategies have helped transform the entertainment industry. WSJ's Joe Flint says that Hollywood's creatives were once enamored with Netflix's approaches but have grown more wary of what new changes could come with consolidation. WSJ's Ryan Knutson hosts. Further Listening: - Netflix's Fight for Warner Just Got Harder - Hollywood Jobs Are Disappearing Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Amid an intense trade dispute with the US, China has started looking to other markets to sell its low value items. In recent months, Chinese e-commerce companies like Shein and Temu have started homing in on Europe. But the pivot has been met with resistance by many in Europe. WSJ's Chelsey Dulaney reports on the evolving China-Europe trade dynamic. Ryan Knutson hosts. Further Listening: - China and the U.S. Are in a Race for AI Supremacy - Is Trump Winning His Trade War? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

​​Since World War II, U.S. geopolitical strategy prioritized global trade and building alliances, especially with democracies. Now, after his action in Venezuela, President Trump is ushering in a new era of American foreign policy that is focused primarily on territory and resources. WSJ's chief economics commentator Greg Ip breaks down the moment, its historical context, and what's next. Ryan Knutson hosts. Further Listening: - Was Maduro's Capture About Oil? - Greenland Has Tons of Minerals. So Where Are All the Miners? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

For months, the U.S. sold its pressure campaign against Venezuela as a way to curtail drug trafficking. Now, after a surprise military operation on Saturday that led to the capture of President Nicolàs Maduro, U.S. oil companies have a path to regaining access to one of the world's largest oil reserves. But WSJ's Collin Eaton explains why getting companies to flock back to Venezuela will be a massive challenge. Ryan Knutson hosts. Further Listening: - Make Money Not War: Trump's Plan for Peace in Ukraine - Why Is the U.S. Giving Billions to Argentina? Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stories that defined 2025, the themes to watch in 2026. Ryan Knutson and Jessica Mendoza hear from top editors across the paper. Plus, Ryan's bold proposal to switch Christmas and Valentine's Day.Thanks for listening to the show in 2025. We'll see you in 2026! Listen to Ryan and Jess's playlist of their Greatest Hits of 2025. Learn more about your ad choices. Visit megaphone.fm/adchoices

According to a WSJ analysis, the epicenter for Stand Your Ground killings is in the state where the laws were first enacted: Florida. From 2021 through 2024, the Jacksonville area had a larger share of its homicides classified as justifiable killings by civilians than any U.S. city or county with a population greater than 500,000. WSJ's Hannah Critchfield reports on the law's unintended consequences and one case labelled as a self-defense killing, where no killer came forward at all. Valerie Bauerlein hosts and reveals a major update on the Scott Spivey case. Read the Reporting: - The Self-Defense Cases That Made Jacksonville No. 1 in Legal Homicides - 29 Shots in 24 Seconds: How a Killing Was Cast as Self-Defense Follow the Story: - Camp Swamp Road Playlist Learn more about your ad choices. Visit megaphone.fm/adchoices

Federal officials say Chinese money launderers moved more than $300 billion in illicit transactions through U.S. banks and other financial institutions in recent years. WSJ's Dylan Tokar explores the rise of these highly lucrative schemes and former federal prosecutor Julie Shemitz takes us inside the federal investigation to bring them down. Ryan Knutson hosts. Further Listening: - The Money Laundering Behind TD Bank's $3 Billion Fine - Mexico's New Cocaine Kingpin is Cashing In Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

How did the U.S. economy do in 2025? With unemployment ticking up, tariffs shaking up global trade and the stock market booming, it has been hard to make sense of it all. Ryan Knutson talks with three WSJ economics reporters–Justin Lahart, Rachel Wolfe and Jeanne Whalen– about the state of the economy as we wrap up the year, and about what to expect in 2026.  Further Listening: - The Era of AI Layoffs Has Begun - Is the Economy Getting Better or Worse? The Fed Says It's Hard to Tell Sign up for WSJ's free What's News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

After a historic church in the heart of Nashville was taken over by a businessman, the family of the church's original founder, including Christian pop star Amy Grant, says the building was “steeple-jacked.” The businessman leading the church denies the allegations. WSJ's Cameron McWhirter explains to Ryan Knutson why many American churches are vulnerable to a hostile takeover. Further Listening: - ‘Exmo' Influencers Are Taking On Mormonism - The Financial Mess Facing the Vatican - Why the New Pope Is Taking on AI Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Cloud seeding is a decades-old rain-making technology, and it's making a comeback in drought-stricken western states. Utah is partnering with a startup called Rainmaker as they try to stabilize the Great Salt Lake, assisted by drones and AI. But those efforts are colliding with weather conspiracy theories that have only gotten more persistent after some blamed Rainmaker for deadly floods in Texas last year. Jessica Mendoza spoke to the company's CEO Agustus Doricko about their projects, and WSJ's Kris Maher explains the growing movement for states to ban weather modification despite scientific consensus. Further Listening: - Hot, Dry and Booming: A Texas Climate Case Study - Is Asheville No Longer a 'Climate Haven?' Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Risky investing strategies are on the rise, and Robinhood's CEO Vlad Tenev is leading the charge. He's built the company's trading app not just to buy and sell ordinary stocks, but to make it easier to invest in more exotic financial products. WSJ's Hannah Erin Lang profiles Tenev and explores the extraordinary success his company has had over the past year. Ryan Knutson hosts. Further Listening: - Free Trading Isn't Free: How Robinhood Makes Money - ‘To The Moon' From the Journal Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Compass CEO Robert Reffkin wants to change the way Americans buy and sell homes by encouraging sellers to list their homes privately when they first hit the market. That strategy is challenging companies like Zillow, which have made information about home listings accessible to buyers. WSJ's Nicole Friedman explains why Compass wants to overhaul the real estate market, and why Zillow is putting up a fight. Jessica Mendoza hosts. Further Listening: - A Case of Conspiracy in Real Estate - Think It's Expensive to Buy a Home? Try Owning One. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

While some viewers complain that AI-generated ads look uncanny, brands like Coca-Cola are making them anyway. WSJ's Katie Deighton explains how Coke remade their iconic “Holidays Are Coming” ad with artificial intelligence, and what that signals for the ad industry's future. Jessica Mendoza hosts. Further Listening: - The Era of AI Layoffs Has Begun - How a $1.5 Billion Settlement Could Alter the Course of AISign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

OpenAI kickstarted the AI race, but is it now at risk of falling behind Google? As the company behind ChatGPT releases its latest update to fend off Google's Gemini, WSJ'S Berber Jin explains OpenAI CEO Sam Altman's urgent "code red" memo to all employees and why the strategy will come at a cost. Jessica Mendoza hosts. Further Listening: - Is the AI Boom… a Bubble? - AI Is Coming for Entry-Level Jobs - The Journal. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Starting next year, babies born from 2025 to 2028 can receive $1,000 to start investment accounts. The initiative has gotten corporate America excited, with financial institutions vying for a role in the program, and philanthropists like Dell Technologies CEO Michael Dell pledging billions of dollars in donations. WSJ's Alexander Saeedy unpacks how the accounts work and why Wall Street is buzzing about them. Jessica Mendoza hosts. Further Listening: - Closing the Wealth Gap With a Trust Fund for Babies - The Nvidia CEO's Quest to Sell Chips in China - Inside Intel's Deal With the U.S. Government Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Earlier this year, OpenAI and chip-designer Advanced Micro Devices, or AMD, announced a multibillion-dollar partnership to collaborate on AI data centers that will run on AMD processors, one of the most direct challenges yet to industry leader Nvidia. WSJ's Robbie Whelan spoke to the CEO of AMD Lisa Su about the deal, her company and the prospect of an AI bubble. Ryan Knutson hosts.  Further Listening: - CoreWeave, the Company Riding the AI Boom - Is the AI Boom… a Bubble? - The Unraveling of OpenAI and Microsoft's Bromance Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

This morning, Paramount Skydance launched a $77.9 billion hostile takeover offer for Warner Bros. Discovery. It occurred just days after Warner had agreed to a $72 billion deal with Netflix. WSJ's Joe Flint reports on the twists and turns of the battle to control Warner and, if Netflix succeeds, how it would change Hollywood. Ryan Knutson hosts. Further Listening: - Will Paramount Settle With Trump? - She Swore Off Legacy Media. Now She's Running CBS News. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Kremlin pitched the White House on peace in Ukraine through business deals. To Europe's dismay, President Trump and his envoy are on board. WSJ's Drew Hinshaw and Joe Parkinson take us inside the Trump administration's new approach to diplomacy with Russia and how it could shake up the U.S.'s longstanding alliances. Jessica Mendoza hosts. Further Listening: - Why Trump Is Ready to Send Missiles to Ukraine - Inside the Hunt for Putin's Sleeper Agents - The Suspected Russian Plot to Set Airplanes on Fire Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. wine industry hasn't had it this bad since Prohibition. WSJ's Laura Cooper reports from Sonoma County, California, a major region for American wine production, on why growers are drowning in unsold grapes, shrinking demand and trade-war fallout. Jessica Mendoza hosts. Further Listening: - Who Wants Non-Alcoholic Bear? Everyone, Apparently. - Why Coke Isn't Getting Rid of High-Fructose Corn Syrup Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

As part of a year-long investigation, WSJ's Shalini Ramachandran and Betsy McKay have been reporting on two of the most commonly prescribed psychiatric medications in America: benzodiazepines and antidepressants. These drugs weren't intended for long-term use, but some Americans end up on them for years. Betsy and Shalini spoke to many patients who experienced the downsides. So a basic question popped up: Is America overmedicated? Further Listening: - A Quick Fix for Hair Loss Is Making Some Men Sick - Uncontrolled Substances, Part 1: Subscribe and Prescribe Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

An escalating artificial intelligence race between China and the U.S. is drawing comparisons to the Cold War, and is likely to be just as consequential. As the technology barrels ahead from ChatGPT to DeepSeek and beyond, the competition is now primarily focused on advanced computer chips, but some worry that the race to innovate will lead to loosening safety regulations. WSJ's Josh Chin explains China's strategy to Ryan Knutson. Further Listening: - CoreWeave, the Company Riding the AI Boom - Is the AI Boom… a Bubble? - What's the Worst AI Can Do? This Team Is Finding Out. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Quince is seemingly everywhere. Since launching in 2018, the brand has built an e-commerce empire that brings in $1.1 billion annually, and has catapulted to the top of the "dupe" economy. But the company's strategy of making its own versions of best-selling products has run into some pushback from competitors. WSJ's Chavie Lieber takes us inside Quince's strategy and ensuing legal battles. Jessica Mendoza hosts. Further Listening: - Smucker, Trader Joe's and a Battle Over PB&Js - Why Is Everyone Obsessed With Labubus? - How Target Got Off Target Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

After Hermès heir Nicolas Puech announced his $15 billion fortune was missing, accusations started flying. Who had taken the money? Was it his handyman? His financial advisor? Puech himself? In this second episode, WSJ's Nick Kostov reveals the answer in what could be the fraud of the century. Jessica Mendoza hosts. Further Listening: The Case of the Missing $15 Billion Fortune: Part 1 The World's Richest Person Is Planning for Succession Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hermès is one of Europe's most storied luxury brands, known for its Birkin bags and expensive silk scarves. One of the company's biggest shareholders had been fifth-generation Hermès heir Nicolas Puech. But a few years ago, Puech made a shocking admission: he was out of money. And Puech's Hermès shares, worth some $15 billion, were missing. In this first episode, WSJ's Nick Kostov digs into one of the most baffling and epic financial sagas of this century. Jessica Mendoza hosts.   Further Listening: The World's Richest Person Is Planning for Succession Are Diamonds Even a Luxury Anymore? How a Miami Couple Used Empty Mansions to Pocket Millions Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Pokémon cards are beating the benchmark S&P 500 and tech stocks like Meta. WSJ's Krystal Hur has been talking with a few collectors that have hit it big thanks to some prized sparkly cardboard from their childhoods. But are there signs of a bubble and that we're reaching peak Pikachu? Jessica Mendoza hosts. Further Listening: - The $55 Billion Deal to Take EA Private - GameStop and the Rise of the Reddit Investor Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Kentucky Fried Chicken was once one of the biggest fast-food chain in America. Now, it's battling declining U.S. sales as rivals attract customers with chicken sandwiches and tenders over KFC's classic bucket of bone-in chicken. WSJ's Heather Haddon reports on how the iconic chain is trying to turn things around. Ryan Knutson hosts.  Further Listening: - Can Pepsi Make a Comeback? - McDonald's Wants To Offer Quality And Value. Can It Do Both?   Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Corporate layoffs have been rolling across American companies: Amazon, General Motors, Verizon, Target and Microsoft have all cut jobs. WSJ's Chip Cutter takes us inside his conversations with CEOs about how hiring is changing, and what the AI era means for jobs. Ryan Knutson hosts. Further Listening: - Hollywood Jobs Are Disappearing - Is the Economy Getting Better or Worse? The fed Says it's Hard to Tell Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Once one of President Trump's most strident allies, Congresswoman Marjorie Taylor Greene is now arguing the president is out of touch with his political base. Trump, in turn, has called her a “traitor” and unendorsed her. As WSJ's Olivia Beavers reports, Greene was one of a few Republicans who broke with Trump this year over the release of the Justice Department's Jeffrey Epstein-related files. Now, with those files set to be released, Greene is redefining her political identity. Jessica Mendoza hosts. Further Listening: - Trump's Letter to Jeffrey Epstein - The Healthcare Fight at the Heart of the Longest Ever Shutdown Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

After five quarters of lagging sales and a sluggish stock price, Nike CEO Elliott Hill is trying to turn things around. WSJ's Inti Pacheco spoke with Hill to discuss Nike's return to its roots and plans for future innovation. Ryan Knutson hosts. Further Listening: - The Missteps That Led Nike Off Course - Made in America? Shoe Companies Already Tried That. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices