WSJ Minute Briefing

Russian forces respond to a cross-border incursion by Ukrainian-backed fighters. JPMorgan makes a large bet on carbon removal. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Micron Technology shares fell 2.9% after China said its products post a national-security risk. PacWest shares rose about 21% after saying it plans to sell a $2.6 billion property-loan portfolio. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Chevron doubles down on shale with $6.3 billion deal to acquire PDC Energy, which holds stakes in Texas and Colorado. Facebook parent Meta says it will appeal the record $1.3 billion fine imposed by the European Union over data transfers to the U.S. Pierre Bienaimé reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Biden and House Speaker Kevin McCarthy plan to meet today to discuss the debt ceiling. Micron shares fall after China bans the U.S. chip maker from supplying major Chinese companies. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: JPMorgan Chase shares fell 0.2% after CEO James Gorman announced he's leaving the top post. Foot Locker shares fell more than 27% after reporting lower-than-expected earnings and recent slowing sales. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

G-7 leaders plan to counter China's economic clout. And, Morgan Stanley's CEO announces he is stepping down in the next 12 months. Charlotte Gartenberg hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Apple, wary of leaks, is restricting employee use of ChatGPT and other external AI tools. TikTok creators sue Montana over the state's ban of the social-media app. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: Walmart shares rose more than 1.25% after reporting higher quarterly sales. Palantir Technologies shares rose 14.5% after Cathie Wood's ARKK fund disclosed a roughly $9 million purchase of the company. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

ESPN plans to sell its channel as a subscription-streaming service. And April home prices posted the largest annual drop in more than 11 years. Ariana Aspuru reports.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Deutsche Bank agrees to pay $75 million to settle a lawsuit from accusers of Jeffrey Epstein. Montana's governor signs the nation's first statewide TikTok ban into law. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: Tesla shares rose 4.4-percent. Earnings exceeded Wall Street estimates, but Target said quarterly sales suffered. Western Alliance rose 10.2% after saying deposits have grown by more than $2 billion so far this quarter. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Ecuador's president dissolves the national legislature. And the ex-CEO of First Republic Bank testifies before Congress. Alex Ossola reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Lawmakers in North Carolina ban most abortions after 12 weeks of pregnancy. And, Elon Musk teases two new Tesla models while forecasting near-term economic challenges. Kate Bullivant hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: Shares of Google parent Alphabet rose 2.6% after the company revealed billionaire Bill Ackman's hedge fund built a $1 billion stake. Home Depot shares fell 2.2% after the company warned annual sales will decline for the first time since 2009. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

The executives speak publicly for the first time since the two banks failed. Plus: The FTC moves to block a major pharmaceutical company merger. And U.S. retail sales were up in April. Danny Lewis reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Biden and top lawmakers are expected to meet to discuss the debt ceiling Tuesday. Wells Fargo agrees to pay shareholders $1 billion to settle a class-action lawsuit. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: The European Union's Antitrust Commission has approved Microsoft's $75 billion acquisition of Activision Blizzard. Pipeline operator Oneok said it has agreed to buy rival Magellan Midstream Partners for $14 billion. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Exxon Mobil reaches settlement with Indonesian villagers over alleged human-rights abuses. Ukrainian president meets with Britain's prime minister. Turkish election moves to a runoff later this month. Pierre Bienaimé reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Turkish President Recep Tayyip Erdogan and his main opponent appear headed for a runoff election later this month. Vice Media files for bankruptcy and says a creditor group has agreed to buy the company. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Major stock indexes log weekly losses. Tesla to fix brake software in more than 1.1 million cars in China. Regional bank PacWest gives up early gains to close lower. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Netflix plans to cut $300 million in spending. The Congressional Budget Office warns that the U.S. could breach the debt ceiling in the first two weeks of June unless Congress overcomes a stalemate to increase it. Charlotte Gartenberg hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

A meeting between President Biden and congressional leaders about the debt ceiling is postponed to next week. Federal Reserve governor Michelle Bowman signals support for further interest-rate increases. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: PacWest shares fell more than 22% after reporting it lost 9.5% of total deposits last week. Peloton shares fell nearly 9% as the company announces it's recalling 2.2 million exercise bikes. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Treasury Secretary says legislation is the best path forward. Plus, the clearinghouse that processes U.S. trades is accused of leaking sensitive information. And Japanese tech investor SoftBank reports a $7.2 billion net loss as it turns to AI investments. Danny Lewis reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Biden administration is targeting power-plant emissions in a new climate initiative. A U.S. survey finds workers are happier than they have been in decades. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Toyota shares rose nearly 2% after saying it plans to invest more than $7 billion in EVs by 2030. Airbnb shares fell nearly 11% as customers reserved fewer-than-expected stays. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Representative Geroge Santos is placed in federal custody, and Ukraine regains ground in Bakhmut. Alex Ossola reports.  Learn more about your ad choices. Visit megaphone.fm/adchoices

George Santos charged in Justice Department probe. And markets brace for key inflation data as the Fed weighs its rate-rise pause. Kate Bullivant hosts.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: Boeing shares rose 2.3% after Ryannair ordered up to 300 of the company's 737 MAX aircraft. PacWest rose 2.4% in another volatile day for regional banks. J.R. Whalen reports.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Former Pakistani Leader Imran Khan is arrested. Israeli airstrikes hit militants and civilians in Gaza. Ariana Aspuru reports.  Learn more about your ad choices. Visit megaphone.fm/adchoices

A New York judge restricts former President Donald Trump's use of evidence in his hush-money case. A Federal Reserve survey finds that banking stress is a top risk to the U.S. economy. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: PacWest shares rose 3.7% after trading much higher following the bank's dividend cut. Occidental Petroleum shares fell 2.9% after Warren Buffett squashed rumors that Be rkshire Hathaway was looking to buy the energy company. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Meat giant Tyson Foods posts first quarterly loss since 2009. Princeton Review and Tutor.com are now owned by a Chinese company. Chile elects a right-wing council to draft a new constitution. Pierre Bienaimé reports.  Learn more about your ad choices. Visit megaphone.fm/adchoices

China's foreign minister scolds the U.S. ambassador over Taiwan at a meeting in Beijing. The Biden administration intends to propose a rule for airlines to compensate passengers for delays and cancellations. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Apple shares rose 4.7% a day after reporting lower revenue, but strong iPhone sales in emerging markets. Coinbase shares rose 18% after the cryptocurrency exchange posted a smaller-than-expected loss. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: April jobs report shows hiring is strong — and unemployment historically low. Russian paramilitary group leader threatens to withdraw troops from front line in Ukraine. Pierre Bienaimé reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

Chinese fintech giant Ant Group's overhaul into a financial-holding company is in limbo because of Beijing's regulatory-system revamp. TurboTax is sending settlement payments to people who were charged for tax preparation that should have been free. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Also: Several regional-bank stocks fall sharply as uncertainty in the sector grows. DoorDash reports higher quarterly sales. J.R. Whalen reports.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Toronto-Dominion Bank and First Horizon call off $13.4 billion merger, and the European Central Bank slows the pace of interest-rate increases. Ariana Aspuru reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

PacWest shares are down sharply after the regional bank said it is talking to potential partners and investors. Private-equity firm Apollo Global Management is nearing a deal to buy industrial-parts maker Arconic. Keith Collins hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Eli Lilly shares rose 6.7% after its experimental drug slowed cognitive and functional declines in early-stage Alzheimer's patients. Yum Brands shares fell 3.9% after reporting worse-than-expected quarterly earnings. J.R. Whalen reports.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Plus: Iran seizes second oil tanker in a week. CVS posts higher revenue, lowers projections as it closes acquisitions. Mohsin Ali reports. Learn more about your ad choices. Visit megaphone.fm/adchoices