Alex Osola

Amazon CEO Andy Jassy has portrayed the cuts as an attempt to reinvigorate the company's culture rather than to cut costs.

But profits declined 62% for the quarter due to tariffs on coffee and investments in the workforce.

And two federal immigration officials fired shots at 37-year-old Alex Preddy during a fatal encounter in Minneapolis on Saturday.

A Department of Homeland Security report says the shooting occurred after a struggle when officers attempted to move Preddy out of a road.

The report doesn't say how many shots were fired or which shots killed Preddy, but noted that a county medical examiner would conduct an autopsy.

Heads Up, an artificial intelligence tool, helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

We'll have more coverage of the day's news on the WSJ's What's News podcast.

You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

President Trump is suing JP Morgan for closing his accounts.

Plus, colorectal cancer is now the top cause of death from cancer among younger Americans.

And why Elon Musk decided SpaceX should go public after more than two decades as a private company.

It's Thursday, January 22nd.

I'm Alex Oselev for The Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

Today, President Trump sued JPMorgan Chase and its CEO Jamie Dimon for $5 billion, alleging that the bank closed his accounts for political reasons after the riot at the Capitol on January 6, 2021.

The lawsuit, which was filed in Florida, says the bank closed the accounts that year and that JPMorgan has blacklisted Trump since then.

The president has said the country's biggest banks discriminate against him, his followers, and conservatives broadly.

And he's ordered regulators to launch investigations into banks over allegations of what's known as debanking.

J.P.

Morgan has said it doesn't discriminate based on politics, and a spokeswoman today said the suit has no merit.