Gina Heeb
Appearances
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
According to Dealogic, last year, U.S. banks grabbed the top five spots for investment banking revenue worldwide and were seven of the top ten. So when it comes to a global trade war, U.S. megabanks could become collateral damage. Heard on the street columnist Telus Demos has the story. So tell us, how is it exactly that American banks could lose out on business overseas?
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
U.S. markets fall as President Trump renews his attacks on the Federal Reserve. Plus, how American megabanks may become collateral damage to a global trade war.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
You mentioned that this isn't a process that will happen overnight. What kind of resilience might US banks enjoy?
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
And who would maybe pick up the pieces of this global market share for underwriting for all kinds of financial services and banking?
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
Telus, thanks so much. Thanks for having me. Meanwhile, preliminary trade data out of South Korea suggests that the effects of President Trump's new tariffs are starting to be felt across the world. In the first 20 days of April, exports fell 5.2% from a year earlier. Imports plunged 12%, leading to a trade deficit.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
While South Korean exports to Europe continued to grow in the first few weeks of April, those to the U.S. and China declined. The data from its customs office came as Seoul gears up for high-level tariff negotiations in Washington this week. Coming up, why crypto firms are looking to act more like banks. That's after the break.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
And why cryptocurrency firms want to start acting like banks. It's Monday, April 21st. I'm Pierre Bien-Aimé for The Wall Street Journal, filling in for Alex Osola. This is the PM edition of What's News, the top headlines and business stories that moved the world today. The sell America trade picked back up today. U.S. stocks fell. The dollar hit fresh multi-year lows against major currencies.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
We exclusively report that a host of crypto firms, including Circle and BitGo, plan to apply for bank charters or licenses. That's according to people familiar with the matter. Other people said the crypto exchange Coinbase Global and stablecoin company Paxos are considering similar moves. That comes as the Trump administration seeks to incorporate crypto into mainstream finance.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
Gina Hebe is a banking reporter for The Wall Street Journal, and she joins me now. Gina, what is it that crypto companies want to achieve here by getting a license or a charter?
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
And what are banks themselves doing in response to this possibility of crypto cutting in on their business?
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
That was Wall Street Journal banking reporter Gina Heap. Gina, thanks so much.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
In other news, the Justice Department is urging a federal judge to force Google to sell its Chrome web browser, loosening the company's grip on the search engine market. U.S. District Judge Ahmed Mehta ruled last year that Google has illegally maintained a monopoly in online search.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
And he has set aside three weeks to hear arguments and testimony over what remedy he should impose to restore competition. Google has long argued that it competed fairly to achieve its success and has told Meta that the Justice Department's remedies proposal will hinder innovation and harm consumers.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
News Corp, owner of The Wall Street Journal, has a commercial agreement to supply content on Google platforms. And Russia said today it was pleased with a Trump administration proposal to bar Ukraine from joining the North Atlantic Treaty Organization. But Moscow remains uncommitted to reaching a quick deal to end its war in Ukraine.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
Russia has long claimed that Ukraine joining NATO is unacceptable, viewing it as a direct threat to its security and an encroachment into what it considers its sphere of influence. The U.S. is awaiting Kiev's response, expected during a meeting with Ukrainian and European officials in London later this week.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
Yields on longer-term treasuries rose and gold surged to another record high. Markets are on edge about President Trump's tariff war as well as his threats to fire Fed Chief Jerome Powell. In a post on social media today, Trump demanded lower rates, saying costs are trending downward and the economy could slow, quote, unless Mr. Too Late, a major loser, lowers interest rates now.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
Ukrainian President Volodymyr Zelensky said today his country was ready to move constructively toward an end to the conflict. Nuclear power is making a comeback, driven by the growing energy demands of artificial intelligence. And AI itself could help better manage the nuclear plants that, in turn, contribute to powering it.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
The Energy Department's Argonne National Laboratory, based in Illinois, has developed an AI-based tool that can help operators run plants and assist with reactor design. AI reporter Belle Lin told our Tech News Briefing podcast that Argonne wants to offer the tool for new tech-forward nuclear companies like the Bill Gates-founded TerraPower or the Sam Altman-backed nuclear startup Oklo.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
And you can hear Bell's full interview on today's episode of Tech News Briefing. The cooling U.S. economy is making it tougher for young would-be workers to land an entry-level job. That generation is taking a bigger interest in joining the family business as a result. It's a welcomed prospect for many older business owners anxious to make succession plans.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
According to an analysis by payroll provider Gusto, the share of small businesses that employ a young adult child of an owner has doubled since 2018 and is up 13 percent year over year as of January. On our Your Money Briefing podcast, economy reporter Rachel Wolf said young people have changed their thinking about joining mom or dad at work.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
And you can hear more in tomorrow's Your Money Briefing podcast. Before we go, heads up, we made a correction to this morning's episode. We'd said an estimated $1 trillion of goods transits through the Gulf of Aden daily when it's actually yearly. And that's what's news for this Monday afternoon. Today's show was produced by Anthony Bansi with supervising producer Michael Kosmides.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
I'm Pierre Bien-Aimé for The Wall Street Journal. We'll be back with a new show tomorrow morning. Thanks for listening.
WSJ What’s News
‘Sell America’ Trade Picks Up After New Trump Threats on Fed
The Dow dropped almost 1,000 points. The index is on pace for its worst April since 1932. The Nasdaq took the biggest hit, falling around 2.6%. Big tech shares fell, with Nvidia and Tesla leading the losses. The S&P 500 closed down about 2.4%. While the U.S. imports more manufactured goods than it exports, it runs a big surplus in one notable business, financial services.