Caitlin McCabe (3:42)

Yeah, absolutely. And Dan, this also comes at a time when the US has been pushing Russia for a peace deal in Ukraine. This, if anything, seems to be sending a different message.

Dan Michaels (3:53)

Europeans have been saying for at least several weeks now that the rhetoric in the discussions with Washington and around what Europe has been advocating that Moscow hasn't been following through on any discussions of peace with actions that would suggest they actually want peace. In fact, over recent days and weeks, it seems the intensity of Russian attacks on Ukraine has increased. So this does not seem like it's going to be conducive to efforts for peace, at least not in the short term. At least that's the way it's probably going to be interpreted in NATO capitals.

Caitlin McCabe (4:27)

Dan Michaels is our Brussels bureau chief. Thank you so much for joining us.

Dan Michaels (4:31)

Good talking to you. Thanks.

Caitlin McCabe (4:32)

Just this morning, the EU Commission president Ursula von der Leyen called the drone attack reckless and said stronger sanctions on Russia were needed. For more coverage of this developing story, check out WSJ.com throughout the day. Coming up, the rest of the day's news, including a major turn of fortunes for weight loss drug giant Novo Nordisk. Plus Robinhood launches its own social media platform for traders. That story and more after the break.

Ursula von der Leyen (4:59)

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Caitlin McCabe (5:32)

A federal judge in Washington has blocked President Trump from removing Lisa Cook from the Federal Reserve Board of Governors while a lawsuit challenged her firing proceeds. The judge granted Cook's request for a temporary court order to keep her seat on the Fed board, with Judge Jiacob saying Cook is likely to succeed on her claim that Trump violated the Federal Reserve act because her firing didn't comply with the requirement that officials can only be removed for cause. The Journal's deputy finance editor Quentin Webb says Trump's move to fire Cook is seen as one of his most aggressive acts in his bid to reshape the Fed.

Quentin Webb (6:03)

This setback for the Trump administration comes just days before the Fed's next policy setting meeting. Recall that Lisa Cook is not just a member of the Board of Governors, but also a member of the broader Federal Open Market Committee, which is the committee that sets interest rates. We believe the Trump administration is likely to seek a swift appeal of this ruling. The administration has said that, you know, there is a clear cause for removal in its opinion here because they allege that Lisa Cook made inconsistent representations in these important financial documents, that is in her more mortgage application and the Supreme.

Caitlin McCabe (6:38)

Court has agreed to quickly hear the Trump administration's bid to save its sweeping global tariffs, setting the stage for a final ruling and what has been a cornerstone of the president's economic agenda. Trump's tariffs, which have already been dealt a string of defeats in the lower courts, are set to remain in place until the case is decided. The Supreme Court decision could arrive before the end of the year. The Trump administration said the legal uncertainty was undermining the White House's position in ongoing trade negotiations. Small businesses who have challenged the tariffs have also asked for a quick resolution, saying the levies were having an economic impact. Meanwhile, President Trump is stepping up federal enforcement of rules for pharmaceutical advertisements. The Food and Drug Administration said it is sending thousands of enforcement letters to drug makers related to misleading ads. And the Department of Health and Human Services is also planning to close what the administration sees as a loophole that has allowed certain broadcast ads to give abbreviated descriptions of drug side effects. Administration officials said the enforcement targets drugmaker TV ads as well as paid social media, influencer posts and telehealth advertising. A spokesman for Pharmaceutical Research and Manufacturers of America says these types of ads help patients make informed decisions about their healthcare options. In corporate news this morning, Ozempic maker Novo Nordisk has announced plans to cut 9,000 jobs, which is about 11% of its workforce. The move comes as the Danish company aims to deliver nearly $1.3 billion in savings by the end of 2026amid fierce competition in the weight loss drug market. Meanwhile, Oracle shares have surged more than 20% in off hours trading after the company gave a promising forecast for its cloud business driven by AI computing demand. If the stock gains hold through today's session, Oracle will finish at a new all time high and Swedish lender Klarna will make its long awaited public debut on the stock exchange today. The company, which is best known for its Buy Now, Pay later services, set its IPO price at $40 a share. That's above the expected range, giving it a valuation of $15.1 billion. If there's one thing we know about retail investors these days, it's that they love to chat about their trades on online forums. Platforms like Reddit and X have become ground zero for the activity over the years, and now Robinhood is diving in. The popular trading platform is adding a social network to its mobile app that will allow users to post their trades, follow other investors and track the market moves of public figures like former U.S. house Speaker Nancy Pelosi. According to Robinhood, posted trades will be verified and users can see when a contributor entered and exited a position and also checked their performances. Journal Markets reporter Hannah Aaron Lang has more.

Hannah Aaron Lang (9:11)

So basically you know that the authors of these posts and the trades that they are posting about are real, right? Are legit because that's been real problem. If you're on Reddit or on x, you can doctor screenshots, you can say that you made a $20,000 bet on a particular stock and that may not be the case, right? So there's a legitimacy element that Robinhood is pointing to here.

Caitlin McCabe (9:37)

Hannah says the move reflects Robinhood's desire to better cater to active customers. The company will roll out a beta version to roughly 10,000 users next year. And that's it for what's news for this Wednesday morning. Additional sound in this episode was from Reuters. Today's show is produced by Kate Bulvin and Hattie Moyer. Our supervising producer is Sandra Kilhoff and I'm Caitlin McCabe for the Wall Street Journal. We'll be back tonight with a new show. Until then, thanks for listening.

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