How China Keeps Iran's Oil Industry Afloat

Four days before Donald Trump’s second inauguration, an Emirati royal known as the “spy sheikh” secretly purchased a stake in Trump's cryptocurrency venture World Liberty Financial for half a billion dollars. In the second of two episodes about World Liberty Financial, WSJ’s Rebecca Ballhaus details what the Sheikh received from the Trump Administration following his deal with the Trump family’s crypto company. Hosted by Jessica Mendoza. Further Listening: - The Crypto President: Part 1 - Private Equity and Crypto Could Be Coming for Your 401k Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

At the height of Donald Trump’s presidential campaign for re-election in 2024, Trump gathered with his sons and longtime friend Steve Witkoff to launch a new money machine: a crypto company called World Liberty Financial. Since its launch less than two years ago, the company has earned the Trump family at least $1.2 billion dollars. It turns out much of that has come from secret business dealings with foreign-owned companies.  In the first of two episodes diving into World Liberty Financial, WSJ’s Angus Berwick explains how a billionaire felon boosted Trump’s crypto company en route to a presidential pardon. Hosted by Jessica Mendoza. Further Listening: - Big Banks vs. Big Crypto - Severed Fingers and Wrench Attacks: A New Era in Crypto Crime Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

After 15 years as the CEO of Apple, Tim Cook announced this week that he will be stepping down. During his tenure, Cook quadrupled Apple’s revenue and transformed the company’s supply chain, building a complex global network that churns out hundreds of millions of devices each year. WSJ’s Rolfe Winkler reports on Cook’s legacy, and the new guy that’s set to replace him. Ryan Knutson hosts. Further Listening: - China and the U.S. Are in a Race for AI Supremacy - The Company Taking on Apple’s Watch Technology Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Get your tickets to our L.A. live show here!In the first Trump administration, the U.S. launched a “maximum pressure” campaign to cut Iranian oil from the global market and eliminate Tehran’s biggest source of revenue. Today, Iran sells billions of dollars’ worth of oil every month via a shadow fleet of ships that have been passing through the Strait of Hormuz. WSJ’s Rory Jones takes us inside Iran’s underground network for shipping, processing and selling oil in China. Ryan Knutson hosts. Further Listening: - How Iran's Regime Changed... for the Worse - The Strait of Hormuz Showdown - In Iran, an Uneasy Calm Amid a Cease-Fire Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

AI models like Anthropic's Mythos are finding software bugs at an unprecedented rate, kicking off a cybersecurity scramble to prevent what experts are calling “bugmageddon.” Thanks to these new models, hackers will be able to exploit those bugs more quickly than ever before. WSJ’s Robert McMillan explains why major corporations and the White House are scrambling to patch their systems. Jessica Mendoza hosts. Further Listening: - The Battle Over AI in Warfare - AI Is Coming for Entry-Level JobsSign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Get your tickets to our L.A. live show here!At the outset of the U.S.-Iran War, the U.S. and Israel assassinated key figures in the Iranian regime, including Ayatollah Ali Khamenei. But the killings of high-ranking officials have failed to spark the popular uprising President Trump initially called for. WSJ’s Margherita Stancati explores the current regime and reports that Iran’s theocratic dictatorship not only remains in control, but is more conservative, more radical, and more entrenched than ever before. Ryan Knutson hosts. Further Listening: - The Strait of Hormuz Showdown - The Energy Shock Is Here - In Iran, an Uneasy Calm Amid a Cease-Fire Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Get your tickets to our L.A. live show here! In 2019, influencer Tai Lopez made a pitch to his social media followers: by buying up distressed retail brands like Radio Shack and Pier 1 out of bankruptcy, they could all get rich. But as WSJ’s Suzanne Kapner reports, the Securities and Exchange Commission accused Lopez of running a “Ponzi-like scheme” through his company, Retail Ecommerce Ventures. Ryan Knutson hosts. Further Listening/Viewing: - Influencer Arielle Charnas’s Fashion Fail - 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

The automotive industry is facing a shortage of mechanics. Ford Chief Executive Jim Farley has said his company’s dealerships have 5,000 open jobs – positions he says can pay up to $120,000 a year. WSJ’s Christopher Otts explains why more people aren’t taking him up on it. Ryan Knutson hosts. Further Listening: - The 20,000 Steps to a Walmart Manager’s Six-Figure Salary - The Repo Man Is Busier Than Ever Learn more about your ad choices. Visit megaphone.fm/adchoices

Get your tickets to our L.A. live show here! The standoff in the Strait of Hormuz means millions of barrels of oil are still trapped in the Persian Gulf. As countries around the world begin to feel the impact of that energy shock, new inflation numbers are signalling that the U.S. economy is being impacted too. WSJ’s David Uberti explains how the stock market and consumers are processing what could be the worst oil crisis ever. Jessica Mendoza hosts. Further Listening: - The Strait of Hormuz Showdown - In Iran, an Uneasy Calm Amid a Cease-Fire - Will the U.S.-Iran Cease-Fire Hold? Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Get your tickets to our L.A. live show here!The Trump administration has shrunk the IRS. WSJ’s Richard Rubin reports on how the federal government has scaled back tax enforcement, leaving fewer federal employees to audit returns and collect unpaid tax debts. The cutbacks could lead to more Americans skirting the tax law. Jessica Mendoza hosts. Further Listening: - How Do You Refund $166 Billion? - DOGE: The Plan to Downsize the GovernmentSign up for WSJ’s free What’s News newsletter.Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices