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☆ Delayed U.S. Weapons Raise Taiwan’s Vulnerability to Invasion
▼ + stars: | 2024-01-16 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

Taiwanese Vice President Lai Ching-te declared victory in the island’s presidential vote on Saturday. Lai’s Democratic Progressive Party secured an unprecedented third straight term in the presidency. Photo: An Rong Xu/Bloomberg NewsTAIPEI—Taiwan has ordered some $19 billion in American missiles, rocket launchers and other weapons to help it defend itself against threats from Beijing. The only problem: U.S. delivery on many of those orders is years away. The delays increase Taiwan’s vulnerability to a Chinese invasion or blockade, say military analysts and former Taiwanese defense officials, since the island’s own weapons industry remains small.

Persons: Lai Ching, Rong Xu Organizations: Democratic Progressive Party, Bloomberg News TAIPEI Locations: Taiwan, Beijing

Never before has a candidate pursued the presidency while facing criminal charges. Former President Donald Trump faces 91 of them, as well as civil claims. Here is the 2024 calendar the Republican front-runner has to negotiate to fend off criminal convictions and civil liabilities and get himself into the White House. Photos: Yuki Iwamura/Bloomberg News

Persons: Donald Trump, Yuki Iwamura Organizations: Republican, Bloomberg

☆ Uber to Close Alcohol-Delivery App Drizly
▼ + stars: | 2024-01-16 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Jan. 16, 2024 11:01 am ETDrizly functioned similar to food delivery services, allowing customers to order alcohol online. Photo: Tiffany Hagler-Geard/Bloomberg NewsUber said it’s shutting down Drizly, the alcohol-delivery service it acquired for $1.1 billion in 2021. Drizly said Monday that it would accept its final orders in March.

Persons: Tiffany Hagler, Uber, Drizly Organizations: Geard, Bloomberg

☆ Apple Watch Ban Temporarily Paused, U.S. Court Rules
▼ + stars: | 2024-01-16 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Apple Watch Ban Temporarily Paused, U.S. Court RulesApple was granted a temporary reprieve after a U.S. court paused a federal agency’s import ban on most of the tech company’s watch models. The ban stemmed from a patent dispute with the medical device maker Masimo. Photo: Jeenah Moon/Bloomberg News

Persons: Apple Watch Ban, Apple Organizations: Apple Watch, Bloomberg

☆ Winter Storms and Dangerous Cold Hammer Much of the U.S.
▼ + stars: | 2024-01-16 | by ( Suryatapa Bhattacharya | Ginger Adams Otis | ) www.wsj.com time to read: 1 min

A winter storm brought high winds and dangerously cold temperatures in the Northeast. The National Weather Service warned of ‘life-threatening windchills’ through Iowa’s presidential caucuses on Monday. Photo: Nathan Howard/Bloomberg NewsMore than 93 million people were under windchill advisories Monday, as Arctic cold and winter storms hammered much of the country. Brutally cold weather from a cold front spilling out of Canada continued across many parts of the country. Snow and freezing rain spread to the Mid-Atlantic and stretched over the Southern U.S. before the arrival of yet another arctic blast forecast later this week.

Persons: Nathan Howard Organizations: Northeast ., National Weather Service, Bloomberg, Southern Locations: Northeast, Iowa’s, Canada, Southern U.S

☆ Apple to Remove Blood-Oxygen Sensor From Watch to Avoid U.S. Ban
▼ + stars: | 2024-01-16 | by ( Aaron Tilley | ) www.wsj.com time to read: 1 min

Apple was granted a reprieve after a U.S. court paused a federal agency’s import ban on most of the tech company’s watch models. The ban stemmed from a patent dispute with the medical device maker Masimo. Photo: Jeenah Moon/Bloomberg NewsApple is removing a blood-oxygen sensor from some of its smartwatches to get around a patent dispute related to the technology, a step likely to avoid further sales disruptions but one that may raise questions about the company’s push into health. The company halted sales of some watch models briefly last month after a U.S. import ban went into effect stemming from an October ruling by the U.S. International Trade Commission. The trade agency found Apple had violated the patents of medical-technology company Masimo related to the blood-oxygen tool.

Persons: Apple Organizations: Bloomberg, Apple, U.S . International Trade Commission

☆ OpenAI Bans Use of AI Tools for Campaigning, Voter Suppression
▼ + stars: | 2024-01-15 | by ( Asa Fitch | ) www.wsj.com time to read: 1 min

OpenAI Chief Executive Sam Altman at the World Economic Forum in Switzerland on Monday. Photo: Hollie Adams/Bloomberg NewsOpenAI outlined limits on using its tools in politics during the run-up to elections in 2024, amid mounting concern that artificial-intelligence systems could mass-produce misinformation and sway voters in high-profile races. OpenAI’s ChatGPT and Dall-E are some of the most powerful AI chatbot and image-generation applications available. The growth of such tools has raised worry that software made by OpenAI and its peers could be used to manipulate voters with false news stories and computer-generated images and video.

Persons: Sam Altman, Hollie Adams, OpenAI’s ChatGPT Organizations: Economic, Bloomberg, OpenAI Locations: Switzerland

☆ Apple to Remove Blood Oxygen Sensor From Watch to Avoid U.S. Ban, Rival Says
▼ + stars: | 2024-01-15 | by ( Aaron Tilley | ) www.wsj.com time to read: 1 min

Persons: Apple Organizations: Bloomberg, Apple, U.S . International Trade Commission

☆ Fed Tiptoes Toward Dialing Back Key Channel of Monetary Tightening
▼ + stars: | 2024-01-15 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

The Federal Reserve, by slowing its bond runoff, can reduce pressure on long-term interest rates. Photo: Valerie Plesch/Bloomberg NewsThough the Federal Reserve stopped raising interest rates last summer, it is quietly tightening monetary policy through another channel: shrinking its $7.7 trillion holdings of bonds and other assets by around $80 billion a month. Now that, too, may change. Fed officials are to start deliberations on slowing, though not ending, that so-called quantitative tightening as soon as their policy meeting this month. It could have important implications for financial markets.

Persons: Valerie Plesch Organizations: Federal, Bloomberg, Federal Reserve

☆ Europe’s Growth Engine Is Broken
▼ + stars: | 2024-01-15 | by ( Tom Fairless | ) www.wsj.com time to read: 1 min

Germany’s car production is more than 25% below its mid 2010s level, according to an auto industry lobby group. Photo: Krisztian Bocsi/Bloomberg NewsGermany is stuck in a rut, and there is no quick way out. The European powerhouse’s economy, the largest on the continent and the world’s fourth biggest, shrank last year, extending a six-year slump that is raising fears of deindustrialization and sapping support for governments across the region.

Persons: Krisztian Bocsi, deindustrialization Organizations: Bloomberg, Germany

☆ Peace and Prosperity in the Taiwan Strait Still Have a Chance
▼ + stars: | 2024-01-15 | by ( Nathaniel Taplin | ) www.wsj.com time to read: 1 min

Taiwanese Vice President Lai Ching-te declared victory in the island’s presidential vote on Saturday. Lai’s Democratic Progressive Party secured an unprecedented third straight term in the presidency. Photo: An Rong Xu/Bloomberg NewsTaiwan has voted: bringing the independence-leaning Democratic Progressive Party an unprecedented consecutive third term in the presidency. Now the world is waiting on Beijing, which claims Taiwan but doesn’t rule it. Saturday’s DPP victory, with around 40% of the vote, could mean more scary headlines in the near-term.

Persons: Lai Ching, Rong Xu, Nancy Pelosi’s Organizations: Democratic Progressive Party, Bloomberg News Taiwan, DPP Locations: Beijing, Taiwan

☆ Arctic Freeze Puts Millions Under Weather Warnings Across U.S.
▼ + stars: | 2024-01-15 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Arctic Freeze Puts Millions Under Weather Warnings Across U.S.Winter storms pummeled much of the U.S. over the weekend. Temperatures in Iowa are expected to drop to around zero on Monday when local Republicans will gather for the state’s presidential caucuses. Photo: Rachel Mummey/Bloomberg News

Persons: Rachel Mummey Organizations: Winter, Republicans, Bloomberg Locations: U.S, Iowa

☆ Winter Storms and Dangerous Cold Bring Weather Warnings Across U.S.
▼ + stars: | 2024-01-15 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

A passing weather system brought snowfall and subzero temperatures to Iowa as voters prepared for the presidential caucuses on Monday. Photo: RACHEL MUMMEY/Bloomberg NewsMore than 160 million people were under winter weather warnings or advisories Sunday as a hazardous mix of Arctic cold and wind, along with snow and sleet, pummeled much of the country. A cold front spilling out of Canada is responsible for dangerously cold temperatures from the Pacific Northwest all the way east to the Rust Belt, the National Weather Service said.

Persons: RACHEL MUMMEY Organizations: Bloomberg, National Weather Service Locations: Iowa, Canada, Pacific Northwest

☆ Ukraine says China needed for peace process after Davos meeting
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: +2 min

China needs to be involved in talks to end the war with Russia, Ukraine's top representative said after a high-level diplomatic meeting ahead of the World Economic Forum in Switzerland. Ukraine's presidential chief of staff Andriy Yermak said on Sunday it was important that Russian ally China was at the table when Kyiv convenes further meetings on its peace formula. Zelenskiy is due to arrive in Bern, Switzerland on Monday to meet the President of the Swiss Confederation Viola Amherd. We must find ways to work with China on this," Cassis said, adding that both Russia and Ukraine were not willing to make concessions. The role of the Global South in Ukraine's peace formula talks has come into focus in the lead up to Davos.

Persons: Volodymyr Zelensky, Andriy Yermak, Li Qiang, Volodymyr Zelenskiy, Li, Yermak, Viola Amherd, Ignazio Cassis, Cassis, Jamie Dimon, Vladimir Putin Organizations: Economic, Swiss, JPMorgan, Ukraine, Bloomberg News, Dimon, Cuban Missile, European Union, Kyiv, Global, United Nations Locations: Davos, China, Russia, Ukraine's, Switzerland, Ukrainian, Bern, Swiss, Ukraine, Brazil, India, South Africa, Africa, Latin America, East, Asia

☆ The FCC vs. the News in Your Neighborhood
▼ + stars: | 2024-01-14 | by ( Holman W. Jenkins | ) www.wsj.com time to read: 1 min

Journal Editorial Report: Edward Lawrence interviews economic strategist Jason Trennert. Official Washington has Jessica Rosenworcel , the Federal Communications Commission chief. Last seen restarting a needless fight over net neutrality, over the holidays she committed more bureaucracy. The courts pressured her to complete her agency’s absurdly delayed 2018 “quadrennial review” of its extensive media ownership regulations. Of course she found these regulations more urgent than ever despite the internet having obliterated the ostensible electromagnetic scarcity on which they were premised.

Persons: Edward Lawrence, Jason Trennert, Mark Kelly You, Jessica Rosenworcel Organizations: Bloomberg, Washington, Federal Communications Commission

☆ It Won’t Be a Recession—It Will Just Feel Like One
▼ + stars: | 2024-01-14 | by ( Harriet Torry | Anthony Debarros | ) www.wsj.com time to read: 1 min

Economists said U.S. employers are likely to continue adding jobs this year, but at a much slower pace. Photo: Eric Thayer/Bloomberg NewsThe good news is the probability of a recession is down sharply, according to The Wall Street Journal’s latest survey of economists. The bad news is that, for a lot of people, it is still going to feel like a recession. Business and academic economists surveyed by the Journal lowered the probability of a recession within the next year, to 39% from 48% in the October survey.

Persons: Eric Thayer Organizations: Bloomberg

For Davis, who will also serve as a Trump caucus captain on the night of the Martin Luther King Jr. Day holiday, the connection is deeply personal. Ron DeSantis, Trump’s campaign is hoping for the kind of blowout that will blunt his rivals' momentum as he tries to lock up the nomination and pivot to the general election. To attract new participants, the Trump campaign produced an animated “Schoolhouse Rock!”-style video and sent mailers that tell voters their caucus sites. Trump’s campaign cites other advantages. It's a difference that matters, said Dan Heffernen, 64, a Trump caucus captain who owns a small construction business in Altoona.

Persons: — Donald Trump, ”, Melissa Davis, Davis, Martin Luther King Jr, “, Nikki Haley, Ron DeSantis, ” Trump, Jason Miller, Haley, DeSantis, ” DeSantis, Koch, Drew Klein, Klein, Trump, Texas Sen, Ted Cruz, Chris LaCivita, Ivanka, Dan Heffernen, Heffernen, Cheryl Heffernen, “ I’ve, “ We’re, Miriam Schultz, Thomas Beaumont Organizations: America, Trump, Florida Gov, Bloomberg News, AFP, GMC, DeSantis, Des Moines Register, NBC, Associated Press Locations: URBANDALE, Iowa, Florida, Des Moines, “, America, Windsor Heights, snowbanks, Texas, Altoona, Des Moines , Iowa

☆ Why No One Goes Out to Eat in D.C. Anymore
▼ + stars: | 2024-01-13 | by ( Michael Saltsman | Rebekah Paxton | ) www.wsj.com time to read: 1 min

Wonder Land: Whether it's the migrant crisis, gender identity, shoplifting, student loans or decriminalizing federal laws on cannabis possession, Republican presidential candidates should not stop talking about the culture. Images: Bloomberg News/AFP/Getty Images Composite: Mark KellyWashingtonThe restaurant scene in the District of Columbia is dying, and public policy is to blame. As recently as 2016, the nation’s capital received its first Michelin Guide and accolades from the country’s top food magazines. In 2018 the editor of Bon Appétit declared that Washington was “having a moment,” with some restaurants so popular that patrons would wait an hour to get a bite. Rising crime and last year’s mandated increase in tipped wages have restaurateurs lining up to leave town.

Persons: Mark Kelly Washington, Bon Appétit Organizations: Republican, Bloomberg, Getty, District of Columbia, Michelin, Washington Locations: District

☆ Morgan Stanley’s Vikram Raju Sees Opportunities in Clean Energy’s ‘Missing Middle’
▼ + stars: | 2024-01-13 | by ( Luis Garcia | ) www.wsj.com time to read: 1 min

Morgan Stanley’s headquarters is in New York. Photo: Angus Mordant/Bloomberg NewsA sharp decline in the value of clean-energy companies last year delivered a wake-up call to investors, many of whom harbored excessively optimistic views of the industry, according to private-equity fund managers. As more investors in the clean-energy sector retune their “focus on fundamentals,” some of the best investment opportunities can be found in companies that have developed beyond the startup stage but still aren’t big enough to attract managers of increasingly large industry-specialist funds, said Vikram Raju , a managing director at Morgan Stanley . Raju leads climate private-equity and credit investing at Morgan Stanley Investment Management, the bank’s $1.4 trillion alternative investment arm, and heads the firm’s 1GT strategy of backing companies that aim to reduce greenhouse gas emissions.

Persons: Morgan Stanley’s, Angus Mordant, Vikram Raju, Morgan Stanley, Raju Organizations: Bloomberg, Morgan Stanley Investment Management Locations: New York

☆ SAP to Pay More Than $220 Million to End Bribery Probes
▼ + stars: | 2024-01-13 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

German software company SAP allegedly violated the Foreign Corrupt Practices Act. Photo: Aparna Jayakumar/Bloomberg NewsSAP has agreed to pay more than $220 million to settle foreign bribery probes brought against the German software maker by U.S. and South African authorities. SAP and its co-conspirators paid bribes to foreign officials in South Africa and Indonesia, delivering money in the form of cash, wire transfers, political contributions and sometimes luxury goods, U.S. prosecutors said Wednesday.

Persons: Aparna Jayakumar Organizations: SAP, Bloomberg Locations: German, South Africa, Indonesia

☆ Crypto Firm Genesis Global Trading to Pay $8 Million for Compliance Failings
▼ + stars: | 2024-01-13 | by ( David Smagalla | ) www.wsj.com time to read: 1 min

Genesis Global Trading closed its U.S. spot trading operations in September. Its parent company, Genesis Global Holdco, filed for bankruptcy a year ago. Photo: Gabby Jones/Bloomberg NewsCrypto brokerage firm Genesis Global Trading has agreed to pay $8 million in a settlement with New York state’s financial regulator over alleged failings in its anti-money-laundering and cybersecurity programs. Genesis Global Trading, part of the now-bankrupt Genesis Global Holdco LLC, closed its U.S. spot crypto trading operations in September and is in the process of winding down. As part of its settlement with the New York State Department of Financial Services, the trading unit will surrender its BitLicense, which allowed it to operate a crypto business in New York, the regulator said in a statement Friday.

Persons: Gabby Jones Organizations: Genesis, Bloomberg, New York, Global, New York State Department of Financial Services Locations: New, New York

☆ Grayscale Faces New Risk-Management Challenge With Bitcoin ETF Approval
▼ + stars: | 2024-01-13 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

Grayscale Investments launched the Grayscale Bitcoin Trust ETF on Thursday. Grayscale CFO Ed McGee spoke with CFO Journal about the financial implications of the ETF and how he expects his role to change as a result. Photo: Michael Nagle/Bloomberg NewsWith the Securities and Exchange Commission’s approval of U.S. exchange-traded funds holding bitcoin, cryptocurrency asset manager Grayscale Investments must focus more on managing risk and communicating with participants, Chief Financial Officer Ed McGee said. Stamford, Conn.-based Grayscale was one of several firms that launched a spot bitcoin ETF on Thursday after the SEC approval of the vehicles the previous day. The Grayscale Bitcoin Trust , which the company converted into a spot bitcoin ETF, saw $2.3 billion in trading volume in its first day on the New York Stock Exchange.

Persons: Ed McGee, Michael Nagle Organizations: Investments, Bloomberg, Securities, Exchange, SEC, New York Stock Exchange Locations: Stamford, Conn

☆ A $6 billion healthcare-AI startup backed by General Catalyst cut staff after pledging to hire 'aggressively'
▼ + stars: | 2023-12-19 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Read previewGeneral Catalyst-backed startups Commure and Athelas merged in October to create a $6 billion healthcare-AI startup. Shortly after the deal closed, though, the newly formed Commure cut staff, according to a leaked email obtained by Business Insider. The layoffs came just a month after Tandon told Business Insider that Commure planned to hire "aggressively" following the merger. Tandon told Business Insider in October that Commure's total headcount following the merger would be about 800. Both Commure and Athelas each had at least five years of cash runway before the merger, Tandon told Business Insider in October.

Persons: —, Tanay Tandon, Tandon, Commure Organizations: Service, Athelas, Business, Bloomberg News

☆ Activist Nuns, With Stake in Smith & Wesson, Sue Gun Maker Over AR-15 Rifles
▼ + stars: | 2023-12-05 | by ( Cameron Mcwhirter | Zusha Elinson | ) www.wsj.com time to read: 1 min

Smith & Wesson semi-automatic pistols for sale at a shop in California. Photo: Bing Guan/Bloomberg NewsA group of activist nuns filed an unusual shareholder lawsuit to pressure gun maker Smith & Wesson to drastically change the way it markets, makes and sells its popular version of the AR-15 rifle. The so-called shareholder derivative action, which the nuns filed in Nevada state court Tuesday against publicly traded Smith & Wesson, alleges that company leaders are putting shareholders at risk. They argue the leaders are exposing the company to liability by the way they have made and sold the rifle, which has been used in several mass shootings in recent years.

Persons: Smith, Bing Guan Organizations: Wesson, Bloomberg Locations: California, Nevada

☆ FTC Investigates Exxon’s $60 Billion Deal for Pioneer
▼ + stars: | 2023-12-05 | by ( Dave Michaels | Collin Eaton | ) www.wsj.com time to read: 1 min

Exxon’s proposed takeover of Pioneer Natural Resources would make Exxon the largest oil producer in the Permian Basin of West Texas and New Mexico. Photo: Bloomberg NewsU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources , which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according to data compiled by law firm Dechert.

Persons: Exxon’s Organizations: Pioneer Natural Resources, Exxon, Bloomberg News, Natural Resources, Federal Trade Commission Locations: West Texas, New Mexico

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