Gunjan Banerjee (3:32)

Under Trump, the number of foreign bribery prosecutions has fallen a lot. And that's obviously partly due to the fact that President Trump ordered six month pause on all foreign bribery cases. In past years, the Justice Department and the securities Exchange Commission, which share this authority to enforce the Foreign Corrupt Practices act, have combined to bring about 33 new cases every year against either companies or individuals. In 2025, the Justice Department brought six new cases and the SEC broad zero. The Trump administration has very intentionally tried to shift toward enforcement that really fits the president's priorities. They are now trying to, for instance, bring cases against businesses accused of dodging or underpaying tariffs or that are accused of making protection payments to drug gangs that have been designated as terrorist organizations.

Luke Vargas (4:35)

Coming up, President Trump warns Iran against attacking protesters as demonstrations turn violent. And a look at the challenges awaiting Zoran Mamdani as he takes over as New York City mayor. That and more after the break. Hi, this is Gunjan Banerjee and this is Telus Demos.

Gunjan Banerjee (4:58)

We're reporters at the Wall Street Journal and The hosts of WSJ's take on the Week.

Luke Vargas (5:02)

Take on the Week is a weekly show that gives listeners a leg up in the world of markets and investing.

Gunjan Banerjee (5:07)

From the Fed's moves to market bubbles, we dive into the biggest deals, key players, and business news ahead.

Luke Vargas (5:13)

If you're looking for more news and tools that can help you navigate the markets, consider becoming a subscriber to the Wall street journal.

Gunjan Banerjee (5:19)

Visit subscribe.WSJ.com takeontheweek to subscribe.

Luke Vargas (5:29)

President Trump is threatening to intervene if Iran tries to shoot demonstrators in protests that have run for nearly a week. Clashes between protesters and police have already resulted in the deaths of several people. And hardliners in Iran are warning of a harsher crackdown. It's not clear what action Washington might take. The US has imposed sanctions during prior periods of unrest. Journal Middle east correspondent Benoit Foucault says international sanctions over Iran's nuclear program have led to the widespread economic problems that are sparking the demonstrations.

Jim Fenelli (6:04)

The biggest issue for the regime is the sanctions that are basically derailing its economy and threatening its political stability are set to continue unless it takes a very drastic turn, which is agreeing to stop enrichment of uranium for its nuclear program. So far, there has been no compromise on that front.

Luke Vargas (6:25)

President Trump has pushed back against scrutiny of his health, telling the Journal that he regrets undergoing a CT scan in October October because it drew attention to the issue. Trump, who has been photographed with makeup concealing bruises on his hand, also admitted taking more aspirin than his doctors recommend, which he said is causing him to bruise easily. Trump denied that he struggles to hear and denied falling asleep at recent White House events, saying he's always gotten by on little sleep.

Gunjan Banerjee (7:01)

We will replace the frigidity of rugged individualism with the warmth of collectivism. If our campaign demonstrated that the people of New York yearn for solidarity, then let this government foster it.

Luke Vargas (7:15)

That was New York City Mayor Zoran Mamdani in his inaugural address yesterday, where thousands of his supporters came out in the cold to celebrate his taking office. The Journal's Jim Fenelli is here to discuss the challenges facing the 34 year old Democratic Social who's promised to make America's largest city more affordable. Jim, you write that kind of right out of the gate here. The learning curve of the New York City bureaucracy is likely going to present an immediate hurdle.

Jim Fenelli (7:43)

Everyone will be looking to see how he does running a city that has 300,000 workers, is expected to provide garbage pickup, keep the schools open, and to have the streets plowed when it snows. So there's a lot to do beyond just him wanting to enact some of his big policies. He just has to keep the city humming as he does that.

Luke Vargas (8:09)

Mamdani's got a pretty expansive wish list for the city, I think it's fair to say, and a number of these items in particular command a pretty high price tag. Talk us through a little bit about what he wants to fund and what his plans are for doing so.

Jim Fenelli (8:22)

The top points are freezing rent and just basically driving down the high cost of living in the city and develop or expand free childcare. He wants free childcare from basically age 0 to age 5. And he also wants to implement a free city bus system. His campaign put out estimates of what it would cost during the mayoral race. And the free child care would cost about $6 billion annually. The free bus system would cost about nearly 800 million a year. A big challenge is finding out where to get the money. He wants to see taxes raised on the city's wealthiest and also raise taxes on corporations, but he needs to get allies up in the state to go along with it, and that's going to be tough. State lawmakers are uneasy about raising taxes. Governor Kathy Holcol has said she opposes raising income taxes, but she signaled an openness to perhaps increasing corporate taxes. But also, the city's budget is about $116 billion. And just from talking to people who deal with the budget, they said that there's room there for him to maybe move some money around in that budget to help pay for those, some of those costs as well.

Luke Vargas (9:42)

One challenge you write that maybe the mayor may not have to deal with has to do with Washington, a crisis he maybe defused in recent months.

Jim Fenelli (9:50)

That's right after Mamdani was elected in early November. A few weeks after that, Mamdani reached out to Trump and went down to Washington, D.C. and it was a surprisingly congenial sit down. But at the same time, Mamdani got into office by vowing to stand up to the federal government when it came to immigration enforcement. So, you know, if there's some kind of showdown, things could change.

Luke Vargas (10:17)

A lot to watch. I've been speaking to the Journal's Jim Finnelli. Jim, thanks so much.

Jim Fenelli (10:21)

Thank you so much.

Luke Vargas (10:22)

And that's what's news for this week. Tomorrow, look out for our weekly markets wrap up what's News in Market. On Sunday, we'll be discussing President Trump's 2026 agenda with WSJ White House correspondent Natalie Andrews and Washington coverage chief Damian Paletta. That's in what's News Sunday. And we'll be back with our regular show on a regular schedule on Monday morning. Today's show was produced by Pierre Bienime and Julie Chang with supervising producer Tali Arbel. Michael Lavall wrote our theme music. Jessica Fenton is our technical engineer. Aisha Al Muslim is our development producer. Chris Zinsley is our deputy editor. And Falana Patterson is the Wall Street Journal's head of news audio. I'm Luke Vargas for the Wall Street Journal. Have a great weekend and thanks for listening.