WSJ What’s News – PM Edition

Episode: Apple Names New CEO, Succeeding Tim Cook
Date: April 20, 2026
Host: Alex Osola, The Wall Street Journal

Overview

This episode delivers a quick-fire rundown of the day’s top business news, including Apple’s big leadership change, the improving job market for new grads, international tensions affecting markets, Wall Street’s foray into crypto, legal developments involving the Trump administration, and growing unrest among Tesla customers over unfulfilled promises of full self-driving cars.

Key Segments & Insights

1. Apple Appoints New CEO, Succeeding Tim Cook

[01:00]

• Breaking News: Apple has named John Ternus, current SVP of Hardware Engineering, as its next CEO, succeeding Tim Cook.
  • Tim Cook will transition to Executive Chairman.
  • Ternus’ appointment is effective September 1st.
• Context: Ternus has long been seen as a contender for the top job, known for his significant role in hardware product launches.
• For more information: Visit WSJ.com for further coverage.

Quote:
"Apple has named a new CEO. It's John Ternus, the company's current senior vice president of hardware engineering, long seen as a top contender to succeed Tim Cook."
— Alex Osola [01:00]

2. Job Market for Class of 2026 Shows Real Promise

[01:35]

• Improving Outlook: A new survey from the National Association of Colleges and Employers forecasts a nearly 6% rise in entry-level hiring this spring.
  • Major firms like McKinsey and IBM report upticks in new grad recruitment.
• AI’s Impact: Companies reshaping workforces to fill new roles driven by artificial intelligence, seeking younger workers with AI familiarity; healthcare also hiring briskly.
• Caveats: Not all new jobs are necessarily “first choice” roles; some positions may be less desirable (e.g., fast food, gig economy), raising questions about job quality.

Quote:
"This is a very big surprise. Employers feel the need to replenish their pipelines...They may need to hire more entry level workers, new roles that have been created because of AI. That leads to a need for a different kind of worker, a younger worker who maybe has some experience with AI."
— Ray Smith, WSJ Workplace Reporter [02:06]

3. US-Iran Peace Talks Amid Rising Tensions

[03:09]

• Upcoming Talks: The U.S. and Iran expected to meet in Islamabad; Iran has not confirmed attendance yet.
• Political Pressures: With the Trump administration unlikely to extend a ceasefire expiring Wednesday, stakes are high.
• Market Impact:
  • "Stocks slipped today on the tensions in the Persian Gulf....The Nasdaq and the S and P both dropped by 0.3% or less, while the Dow was roughly flat."
    — Alex Osola [03:09]
  • Oil prices surged, with Brent crude up over 5%.
• Historical Note: The Nasdaq’s 13-session winning streak ends; parallels to 1992 noted.

4. Wall Street Goes Crypto: NYSE Plans Tokenized Securities

[05:21]

• Emblem of Wall Street Embraces Change: The New York Stock Exchange (NYSE), founded in 1792, actively exploring crypto’s potential.
• Planned Innovations:
  • Launching a tokenized securities platform, allowing 24/7 trading on blockchain.
  • Use of stablecoins (crypto tied to USD) for trades.
  • Parent company ICE investing in OKEx, a major crypto exchange.
• Risks & Uncertainties:
  • “This has never been done before.”
    — Vicky Go Hwang [06:35]
  • Concerns about trader burnout from extended hours.
• Long-Term Vision: NYSE aims to stay relevant as digital assets become central to finance.

Notable Quotes:
"The New York Stock Exchange symbolizes everything that is Wall street. And Bitcoin, which was created after the global financial crisis, is designed to disrupt Wall Street. So New York Stock exchange is trying to carry this great Wall street institution into the future."
— Vicky Go Hwang, Crypto Reporter [05:21]

5. Legal Headlines: Trump Administration and Press Clashes

[07:17]

• Fed Chair Confirmation:
  • Senate Democrats to scrutinize nominee Kevin Warsh’s finances for transparency on investments.
• Meat Packer Investigation:
  • Justice Department’s Antitrust Division investigating possible criminal anti-competitive conduct by large beef companies.
• FBI Director’s Lawsuit:
  • Kash Patel is suing The Atlantic magazine and journalist Sarah Fitzpatrick for $250M, alleging defamation regarding reports on his conduct.
  • Both sides strongly defend their positions.

Quote:
"We have to fight back against the fake news. It's one of the many things that President Trump is so successful at in leading out on because no one is attacked as baselessly as he is and as much as he is."
— Kash Patel, FBI Director [09:06]

6. Tesla Owners Sue Over Full Self-Driving Promises

[09:40]

• Background:
  • For years, Elon Musk promised truly autonomous Teslas—customers could sleep, eat, or text while their car drove itself.
• Current Reality:
  • Only a supervised version of Full Self-Driving mode is available; no consumer has access to the hands-off, “unsupervised” tech.
• Legal Action:
  • Thousands of owners have filed a class-action lawsuit alleging fraud: paid thousands for unfulfilled upgrades.
  • Lawsuit seeks damages and fulfillment of promises.
• Brand Tension:
  • Many early buyers feel burned; hardware now outdated; uncertainty over whether they’ll remain loyal customers.
• Tesla’s Response:
  • The company and legal team declined to comment. Earnings report due Wednesday.

Quote:
"The pitch Musk has made is that you will be able to step into your Tesla, enter an address and go to sleep, text, eat a meal, just live in your car as if you have a chauffeur. And that's what people don't quite have yet."
— Becky Peterson, WSJ Tesla Reporter [10:07]

Memorable Moment:
"These are customers who bought the car in 2017 or 2019 and paid for this lifetime upgrade and then didn't get the service because the technology wasn't ready, despite what Tesla and despite what Musk said."
— Becky Peterson [10:45]

Noteworthy Timestamps

• Apple CEO Change: [01:00]
• Grad Hiring Outlook: [02:06]
• US-Iran Tensions: [03:09]
• NYSE & Crypto: [05:21]
• Trump Admin Legal News: [07:17]
• Tesla Lawsuits: [09:40]

Tone & Delivery

• The episode is brisk, fact-dense, and slightly skeptical—consistent with the Wall Street Journal's journalistic tone.
• Experts and reporters are crisp and measured, offering nuance (Ray Smith caveating job market optimism; Vicky Go Hwang noting risks in 24/7 markets).

Summary

This edition of WSJ What’s News covers urgent headlines with depth and context. Apple initiates a leadership transition, the job market shows signs of optimism with underlying questions, geopolitical tensions rattle markets, and Wall Street’s oldest institutions push into digital assets. Meanwhile, Tesla faces restless customers and legal heat for broken promises, all amid ongoing political-legal clashes in D.C. For further details on any headline, listeners are encouraged to consult additional WSJ resources.