WSJ What’s News: Detailed Summary of “Boeing 787 Bound for London Crashes in India” – June 12, 2025

Host: The Wall Street Journal

Release Date: June 12, 2025

Introduction

In this episode of WSJ’s "What’s News," host Luke Vargas delivers a comprehensive update on the day’s most pressing headlines. Covering a tragic aviation accident, escalating Iran-US tensions, significant legal battles in California, shifts in the IPO market, and promising developments in HIV prevention, this episode provides listeners with in-depth analysis and expert insights to understand the implications of these events on global markets and political landscapes.

Aviation Tragedy: Air India Boeing 787 Crash

Breaking News:
At [01:01], Luke Vargas announces a tragic incident involving Air India flight AI171:

• Details of the Crash:

  • Aircraft: Boeing 787, 11 years old (source: FlightAware).
  • Flight Path: Bound for London, crashed shortly after takeoff from Ahmedabad, India.

• Casualties:

  • Total Onboard: 242 people.
  • Nationalities: 169 Indian nationals, 53 British, 7 Portuguese, and 1 Canadian.

• Immediate Response:

  • Local television footage captured heavy plumes of smoke.
  • Injured passengers are being transported to nearby hospitals.

This tragic event has sent shockwaves through the aviation community and affected numerous families worldwide.

Escalating Iran-US Tensions Over Nuclear Enrichment

Geopolitical Developments:
At [01:01], Vargas shifts focus to Iran’s announcement of plans to establish a new nuclear enrichment facility amidst rising tensions with the U.S.

• International Atomic Energy Agency (IAEA) Vote:

  • Outcome: Iran declared non-compliant with its nuclear obligations.
  • Proposed by: U.S., France, Germany, and the UK.
  • Opposed by: Russia and China.

• Consequences:

  • Iran intends to set up a new nuclear facility in a secure location despite the negative vote.
  • The U.S. has ordered the withdrawal of all non-essential personnel from Iraq, Bahrain, and Kuwait in response to heightened tensions.

Expert Insight with Benoit Foucault ([03:01] - [05:56]):

Benoit Foucault from the Wall Street Journal provides deeper analysis:

• Deterioration of Relations:

  • Recent aggressive stance from U.S. President Donald Trump regarding nuclear talks.
  • Iranian Defense Minister warned of potential attacks on U.S. bases if negotiations fail ([03:01]).

• Current Situation:

  • Despite heightened rhetoric, both sides are employing pressure tactics rather than engaging in direct conflict.
  • Upcoming talks scheduled for the weekend indicate a possibility to de-escalate tensions ([03:53]).

• Market Impact:

  • Oil Prices: Rose by 5% due to concerns over the security of the Persian Gulf, a critical oil route ([04:51]).
  • Maritime Security: UK-US joint forces have increased vigilance in the Persian Gulf, advising shippers to stay alert for suspicious activities.

• Risk Assessment:

  • Though not on the brink of war, the situation remains volatile with significant risks for regional stability and global markets.

Notable Quote:

“The risk of conflict in the region... is very high.” – Benoit Foucault ([04:31])

Legal Battle in California: Governor Newsom vs. Trump Administration

Domestic Conflict:
At [05:56], Vargas reports on the legal showdown between California Governor Gavin Newsom and the Trump administration over the deployment of National Guard units and Marines to aid in deportation efforts.

• Federal Justification:

  • Authority Cited: Militia Act of 1908, permitting federal deployment during emergencies like foreign invasions or rebellions.

• California’s Argument:

  • Legal Standing: California contends that the current situation does not meet the criteria for such federal intervention.
  • State Response: Emphasis on maintaining peace, despite isolated incidents of violence and vandalism.

• Impact of Federal Deployment:

  • Protests: Recent protests in Los Angeles led to looting and vandalism, prompting the imposition of curfews.
  • Curfew Enforcement: Mayor Karen Bass stated that the curfews “will go on as long as they are needed” ([07:08]).

Governor Karen Bass on Emergency Declarations ([07:08]):

“The emergency declaration that I signed yesterday does not have a time limit to it, and so the curfews will go on as long as they are needed.”

Business Impact:

• Increased security measures have affected downtown Los Angeles businesses, with some establishments reducing operating hours to comply with curfew regulations.

Changes in the Advisory Committee on Immunizations Practices

Health Sector Update:
At [07:30], Health Secretary Robert F. Kennedy Jr. announces the selection of eight new members to the Advisory Committee on Immunizations Practices (ACIP).

• Background:

  • Previously, all 17 members of the ACIP were dismissed.

• New Appointments:

  • Inclusion of individuals with ties to vaccine skeptic groups.
  • Kennedy asserts the new panel will “apply gold standard science to both new and existing vaccine guidelines.”

Controversy:

• Critics argue that the new members lack the necessary scientific expertise on vaccines, potentially undermining the committee’s credibility and effectiveness.

IPO Market Signals Revival

Market Dynamics:
At [08:XX], Vargas highlights emerging signs of recovery in the Initial Public Offering (IPO) market following earlier disruptions caused by trade tensions.

• Notable IPOs:

  • Voyager Technologies:

    • Sector: Space and defense technology.
    • Performance: Shares climbed during their New York Stock Exchange debut.
    • Collaborations: Working with Airbus, Mitsubishi, MDA Space, and Palantir on the Star Lab space station project.

  • Circle Financial:

    • Sector: Stablecoin (cryptocurrency).
    • Performance: Recorded significant stock price increases post-IPO, signaling strong investor interest.

Analysis by Alex Frankos ([09:32] - [10:03]):

Alex Frankos, Finance Editor, provides insights into the current state of the IPO market:

• Market Sentiment:

  • Recent positive performances from Voyager and Circle Financial indicate renewed optimism among investors.

• Volume and Growth:

  • Despite these successes, overall IPO activity remains “pretty anemic,” with limited volume and fewer companies going public compared to previous market cycles ([09:32], [10:03]).

Notable Quote:

“We haven't seen that kind of thing in a while, and so that's giving people a sense that the market is open again.” – Alex Frankos ([09:32])

Gilead Sciences and HIV Prevention Breakthrough

Biotech Advancement:
At [10:03], Vargas discusses the potential approval of a groundbreaking HIV prevention injection by the U.S. Food and Drug Administration (FDA), which is generating significant investor excitement.

• Company Spotlight: Gilead Sciences
  • Dominance: Leading player in HIV treatment.
  • Recent Developments: Shares have surged following the announcement that just two annual shots of their drug prevented all HIV infections in a study involving women and girls.
  • Future Outlook: A follow-up study in men is expected to conclude by late 2025 or early 2026.

Expert Commentary by David Wehner ([11:04] - [11:53]):

David Wehner, a Journal columnist, analyzes the implications for Gilead Sciences:

• Growth Prospects:

  • Historical Performance: Previously experienced significant growth with hepatitis C cures but later faced stagnation.
  • Current Opportunity: The new HIV prevention shot represents a "breakthrough" that could restart Gilead’s growth engine.

• Market Impact:

  • Encourages investors to view Gilead as poised for substantial growth after a decade of limited stock movement ([11:04]).

Notable Quote:

“This is a chance to finally grow and to finally break through this range that its stock has traded over the last ten years or so.” – David Wehner ([11:04])

Conclusion

In today’s episode, "What’s News" provides listeners with a thorough overview of significant events shaping the global and domestic landscape. From the tragic Boeing 787 crash in India to the intensifying Iran-US tensions, legal disputes in California, tentative recovery in the IPO market, and promising advancements in HIV prevention, each segment offers valuable insights into how these developments impact markets and societal dynamics. The inclusion of expert analysis and notable quotes enhances the understanding of these complex issues, making the episode an essential listen for anyone seeking to stay informed on current events.

Notable Quotes:

• Benoit Foucault on Regional Conflict Risk:
  “The risk of conflict in the region... is very high.” ([04:31])

• Governor Karen Bass on Emergency Curfews:
  “The curfews will go on as long as they are needed.” ([07:08])

• David Wehner on Gilead Sciences’ Growth Opportunity:
  “This is a chance to finally grow and to finally break through this range that its stock has traded over the last ten years or so.” ([11:04])

This detailed summary captures all key points, discussions, insights, and conclusions from the WSJ’s “What’s News” episode, providing a comprehensive understanding for those who have not listened to the original podcast.