USA – Page 10052 – Prologue Journal

Auditors Didn’t Flag Risks Building Up in Banks

Wall Street Journal Bond losses such as those at Silicon Valley Bank could have been raised as “critical audit matters”—a measure designed to help investors decode risks and uncertainties buried in financial statements. https://www.wsj.com/articles/auditors-didnt-flag-risks-building-up-in-banks-6506585c

Tennessee’s Political Divisions Deepen Between State and Its Cities

Wall Street Journal The expulsion of two Democrats from the state House by Republican lawmakers is the latest episode of the political polarization playing out in red states with blue cities. https://www.wsj.com/articles/tennessees-political-divisions-deepen-between-state-and-its-cities-6ac062e2

Ozempic, Wegovy and Mounjaro Spark a Weight-Loss and Diet Industry Identity Crisis

Wall Street Journal Weight-loss businesses, which long pushed calorie-counting and willpower, are grappling with the surging popularity of new drugs. https://www.wsj.com/articles/ozempic-wegovy-mounjaro-weight-loss-industry-89419ecb

Stock Pickers Failed to Take Part in First-Quarter Rally

Wall Street Journal Bearish positioning and less exposure to the large technology stocks hurt active fund managers. https://www.wsj.com/articles/stock-pickers-failed-to-take-part-in-first-quarter-rally-db2f910f

Chinese tech companies are exploiting US green energy goals, former State Department officials warn

Fox News EXCLUSIVE: Two former U.S. ambassadors are sounding the alarm on the increasing number of green energy projects nationwide being developed with the involvement of Chinese companies. Former U.S. Ambassadors Peter Hoekstra and Joseph Cella said Chinese companies, which are subject to strict Chinese laws, have made a concerted effort to take advantage of…

DeSantis Pushes Toughest Immigration Crackdown in the Nation

New York Times The Florida governor is pushing an aggressive proposal to penalize those who aid undocumented immigrants and to track costs for providing them with health care. https://www.nytimes.com/2023/04/10/us/florida-desantis-immigration.html

Stock Futures Hover After Jobs Report

Wall Street Journal Stock futures were little changed after Friday’s jobs report, which showed U.S. hiring had cooled but remained solid in March. Bond yields edged down. https://www.wsj.com/articles/oil-prices-edge-up-stocks-waver-10cc9828

China’s Car Sales Edged Higher

Wall Street Journal Growth in China’s car sales slowed in March as car buyers hesitated to make purchases amid a price war among major car makers. https://www.wsj.com/articles/chinas-car-sales-edged-higher-in-march-7e66301d

China’s New IPO Rules Tipped to Speed Up Listings, Boost Pricing Efficiency

Wall Street Journal The first stocks to list on China’s main boards under a new mechanism had strong debuts amid enthusiasm for a revamped system. https://www.wsj.com/articles/chinas-new-ipo-rules-tipped-to-speed-up-listings-boost-pricing-efficiency-57a8393c

Abortion Ruling Could Undermine the F.D.A.’s Drug-Approval Authority

New York Times Legal scholars say the ruling by a Texas judge, if upheld, could spur disputes over many medications and upend the drug industry’s reliance on the agency. https://www.nytimes.com/2023/04/10/health/abortion-pill-fda.html