WSJ What’s News

P.M. Edition for July 13. The standoff over the Strait of Hormuz heats up: President Trump says he is reinstating the U.S. blockade of Iranian shipping through the crucial waterway, sending oil prices soaring. Plus, a coalition of a dozen states is suing to block the merger between Paramount and Warner Bros Discovery, the strongest legal challenge yet to the $81 billion acquisition. And Kathryn Ruemmler had said she would step down as Goldman Sachs’s top lawyer at the end of June after her long relationship with Jeffrey Epstein came under scrutiny. But instead she’s staying on, complicating efforts to find her successor. WSJ lead financial reporter AnnaMaria Andriotis discusses what’s going on inside the bank ahead of Ruemmler’s testimony in front of Congress on Wednesday. Alex Ossola hosts.

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A.M. Edition for July 13. Republicans begin the scramble to replace Senator Lindsey Graham following his sudden death on Saturday evening. WSJ reporter Alex Leary reflects on Graham’s career, his relationship with President Trump and who his likely successor may be. Plus, expectations are sky high for this earnings season with the biggest U.S. companies forecasting more than 30% growth on average. But is it a bubble? And SK Hynix shares plummet following their historic debut on Wall Street. Daniel Bach hosts.

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Voters in California are weighing a one-time tax on billionaires. Meanwhile, states including Maine and Massachusetts have already implemented income taxes on wealthy residents. The idea of levying higher taxes on the rich is catching on across the U.S., but the way the measures work—and how residents feel about them—couldn’t be more different. Host Alex Ossola discusses the efforts to tax the wealthy (and their opposition) with WSJ economics reporter Jeanne Whalen and Journal enterprise reporter Laura Nelson.

Further Reading

Proposed California Billionaire Tax Clears Key Hurdle on Way to Ballot

Rich Californians Are Finding Creative Ways to Get Ahead of the Billionaire Tax

California’s Tax-Weary Billionaires Seek Refuge on Lake Tahoe’s Nevada Shore

Wealth-Tax Fever Is Spreading to Less-Wealthy States

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How are markets responding to renewed tensions in the Middle East? And why did Samsung’s blockbuster earnings send shares lower? Plus, why didn’t SpaceX get the Nasdaq-100 boost investors were hoping for? Host Imani Moise discusses the biggest stock moves of the week and the news that drove them.

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P.M. Edition for July 10. Apple’s lawsuit also names one of OpenAI’s top executives, a former Apple employee. Plus, Israeli intelligence about a possible plot to kill President Trump made U.S. officials concerned about a lack of defensive capabilities on the new Air Force One. The success of films like “Backrooms” and “Obsession” means Hollywood is combing sites like YouTube and Reddit for the next big horror hit. WSJ entertainment reporter Ben Fritz discusses who’s making money from that and what risks there are for film studios. And South Korean chipmaker SK Hynix pops in its U.S. market debut. Alex Ossola hosts.

A 'Mansion Tax' Complicated the Housing Crisis. Could a Federal Bill Fix It?

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