The Wall Street Journal - January 15, 2025

The Wall Street Journal (WSJ) is a leading global business publication, providing comprehensive coverage of financial news, market analysis, and business trends. Here's a summary of key topics from the January 15, 2025, issue: Business & Finance: * SEC Sues Musk: The Securities and Exchange Commission (SEC) filed a lawsuit against Elon Musk, accusing him of misleading shareholders about his purchases of Twitter stock. This escalates the agency's ongoing feud with the billionaire. * China Explores Sale of TikTok in U.S. to Musk: Chinese officials are considering allowing a trusted non-Chinese party, such as Elon Musk, to invest in or take control of TikTok's U.S. operations to avert a U.S. ban. * China Reins In Bankers: Chinese leader Xi Jinping is cracking down on the financial sector, implementing measures to curb capitalist excess and bring the industry more under state control. * Meta to Eliminate 5% of Its Workers: Meta Platforms, the parent company of Facebook and Instagram, announced plans to cut 5% of its workforce as part of a cost-cutting initiative. * JPMorgan Chase Names Jennifer Piepszak as New COO: The bank appointed Jennifer Piepszak as its new Chief Operating Officer, while Daniel Pinto, Jamie Dimon's top ally, plans to retire. * BlackRock Executive Mark Wiedman to Leave: One of the top candidates to succeed BlackRock CEO Larry Fink, Mark Wiedman, announced his departure from the world's largest asset manager. World News: * U.S. to Remove Cuba From Terror-Sponsor List: The Biden administration announced plans to remove Cuba from the U.S. list of state sponsors of terrorism as part of a deal to free political prisoners on the island. * South Korea Leader Arrested in Standoff: South Korean authorities arrested and detained impeached President Yoon Suk Yeol over his brief declaration of martial law last month. * China's yuan tightrope: The Chinese central bank faces a dilemma as the yuan comes under pressure, with economic fundamentals suggesting a weaker currency but the risk of capital outflows. * Denmark Entertains Greenland Options: The Danish government has signaled its willingness to negotiate military and economic deals related to Greenland with the incoming Trump administration. * China's AI Advances: The U.S. imposes new measures to limit China's advancements in artificial intelligence, requiring companies to get government approval to export certain information about their AI models and set up large AI computing facilities overseas. Other Key Topics: * Longevity Science Is Having Its Moment: Incoming president's picks for the country's top health jobs have ties to the antiaging field, signaling potential support for antiaging treatments and research. * Arcade Games Are Getting a Makeover: Arcades are adding big-ticket prizes to claw machines and gacha machines, targeting a lucrative market of "kidult" consumers. * China's Central Bank Reiterates Easing Vow: The People's Bank of China again pledged to help the economy grow this year, firming expectations of more monetary easing. * SEC Proposes New Food Warning Label: The FDA proposed a rule that would require food manufacturers to add new labels to the front of packages flagging key nutrition information on salt, added sugar, and saturated fat. * Drug Managers Boosted Prices: A new report by the FTC found that pharmacy-benefit managers (PBMs) hiked the prices of dozens of drugs dispensed through their own pharmacies, reaping billions in profits. The January 15, 2025, issue of the WSJ provides a comprehensive overview of the latest developments in business, finance, and global affairs, highlighting key trends and potential implications for the future.