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   DealBook: “It will all be fine!”
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   Also, JPMorgan’s big U.S. investment plan.
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             October 13, 2025
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          Good morning. Andrew here. Lots of news this a.m. We dive into the latest in the U.S.-China trade battle, and JPMorgan Chase just announced a huge new financial commitment in the U.S.
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          I also spoke to Stan Druckenmiller by phone about the U.S.’s $20 billion bailout of Argentina’s economy. Some critics conjectured that Treasury Secretary Scott Bessent did this to rescue the investments of his friends on Wall Street. One of the people who was reported to have been a big holder of Argentina’s debt was Druckenmiller, who worked with him at George Soros’s investment firm. That speculation was wrong, Druckenmiller told me.
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          He had been a large holder of Argentina’s debt — past tense — in the spring and the summer, as indicated in a
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         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-style:italic">
          regulatory filing
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          . But he told me that he sold out of his position before the U.S. government injected money, and therefore wasn’t a beneficiary of the rescue. Indeed, he said that unfortunately for him, he sold the very last part of his stake just before the announcement. “While I did not have a position in Argentina when the Treasury currency intervention was announced, I am rooting for Milei as a beacon of capitalism and think his success is absolutely in America’s interest,” Druckenmiller told me, referring to President Javier Milei of Argentina. (Was this newsletter forwarded to you?
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          Sign up here.
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          )
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             President Trump has sought to calm nerves as a trade spat with China grows more heated.
            </span>
            <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
             Kenny Holston/The New York Times
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          Trade trouble
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         <span>
          S&amp;P 500 futures, crypto and oil prices have all rebounded this morning as investors again pin their hopes on Washington and Beijing dialing back trade tensions.
         </span>
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          That is a stark reversal from
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         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Friday’s sell-off
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          after President Trump spooked markets by threatening to impose steep tariffs on China, apparently in retaliation for Beijing erecting new trade barriers on exports of rare earth materials and magnets.
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         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The latest:
         </span>
         <span>
          Trump tried to calm nerves yesterday, writing “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Don’t worry about China
         </a>
         <span>
          , it will all be fine!” on social media. He added that President Xi Jinping of China “doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          China isn’t backing down: The country’s Commerce Ministry defended last week’s announcement of global export bans on rare earths, a move that could seriously
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          hobble automakers, military contractors and Big Tech
         </a>
         <span>
          . A Chinese ministry spokesperson said yesterday that “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          we are not afraid” of a trade war
         </a>
         <span>
          with the U.S.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The Hang Seng Index in Hong Kong fell, as did the dollar. And traders continued to pile into gold,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          which has soared
         </a>
         <span>
          as the trade war has escalated.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Are these just hard-nosed negotiating tactics?
         </span>
         <span>
          Investors appear to be making that bet today, even as
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
         </span>
         <span>
          a November deadline for bruising tit-for-tat tariffs looms.
         </span>
        </p>
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            <div style="width:100%;text-align:center;line-height:0">
             <img alt="Ad" border="0" src="https://inboxflows.com/_/image/https%253A%252F%252Fliveintent.newyorktimesinfo.com%252Fimp%253Fs%253D1053700%2526li%253DDK%2526m%253Ddfbfebeec3e396a6cb1a8b032a80246c%2526p%253DDK_20251013%2526stpe%253Ddefault/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZsaXZlaW50ZW50LiIsInRpbWUiOjE3NjAzNTcyMTUuMzA0MDUwNH0:1v8HKJ:seXv-GeKoDiqWaApHDTfyzN-weI3IyIfg4xQd0qjiGk" style="max-width:96px;margin-bottom:7px"/>
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           </td>
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           <td height="20">
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          It’s unclear if Trump will back down. Following through on his latest threat could mean that levies on China soar to roughly 130 percent, which could hammer
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          vulnerable Chinese manufacturers
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Or is this a sign of decoupling?
         </span>
         <span>
          Markets will be closely watching discussions over the rare earth trade. China dominates the global flow of these vital materials, giving it potential leverage for better terms for high-end U.S.-made artificial intelligence chips.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “This battle is shaping up as rare earths versus A.I. chips,” Jim Reid, a Deutsche Bank strategist, wrote in a research note this morning.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Soybeans are another potential area of leverage for Beijing.
         </span>
         <span>
          China’s pullback from the U.S. market has hit American farmers hard. At the same time, it imported a
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          record amount of soybeans
         </a>
         <span>
          last month — with farmers
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          in Brazil
         </a>
         <span>
          and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          in Argentina
         </a>
         <span>
          appearing to benefit from the shift.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The trade uncertainty is weighing on investors’ minds.
         </span>
         <span>
          Markets had soared to records on the hopes that countries would negotiate down Trump’s tariffs, in effect limiting the hit to growth and corporate profits. The latest escalation shows “these tensions will probably be a recurring theme in the years ahead as both sides compete on the global stage for dominance,” Reid wrote.
         </span>
        </p>
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           </td>
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          <td style="padding:0;font-size:0;border-top:8px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             HERE’S WHAT’S HAPPENING
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The government shutdown is expected to hit more of the economy.
         </span>
         <span>
          Civilian government workers will
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          miss their first paychecks
         </a>
         <span>
          on Wednesday, which would most likely lead to reduced consumer spending.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Senator Susan Collins
         </a>
         <span>
          , Republican of Maine, criticized Russ Vought, the White House budget director, over the Trump administration’s move to start federal layoffs.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Warner Bros. Discovery is said to have rejected a takeover bid from Paramount.
         </span>
         <span>
          Warner Bros. Discovery rebuffed an
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          offer of about $20 a share
         </a>
         <span>
          , according to Bloomberg. Paramount’s new owner, David Ellison, has suggested publicly that the media industry needs further consolidation; CNBC previously reported that his company
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          may take its bid public
         </a>
         <span>
          to put more pressure on Warner Bros. Discovery.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Analysts expect a bumper earnings season for Wall Street banks.
         </span>
         <span>
          Giant lenders are forecast to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          report more than $9 billion
         </a>
         <span>
          in investment-banking revenue for the third quarter when they begin disclosing results this week, thanks to improvements in deal making and trading. U.S. banks may also benefit from deregulation by the Trump administration, which could free up
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          some $140 billion in capital
         </a>
         <span>
          , according to a report by the consulting firm Alvarez &amp; Marsal.
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td height="10">
           </td>
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           <td height="8" style="background-color:#000;font-size:0;line-height:0" width="100%">
           </td>
          </tr>
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           <td height="20">
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          JPMorgan’s big U.S. investment push
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Since President Trump’s re-election, a wide range of companies have announced plans to invest billions in the U.S., often drawing praise from the president.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          JPMorgan Chase, the nation’s biggest bank, joined those ranks this morning when it announced its own huge plan to steer money into the American economy.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The news:
         </span>
         <span>
          JPMorgan said that it will “facilitate, finance and invest” about $1.5 trillion over the next decade via what it’s calling its
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Security and Resiliency Initiative
         </a>
         <span>
          . The bank is focusing on companies of different sizes — from mid-market businesses to corporate giants — across four main areas:
         </span>
        </p>
        <div style="margin:0 auto;max-width:600px;width:100%">
         <table>
          <tbody>
           <tr>
            <td style="padding:0 0 5px">
             <ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Supply chain and manufacturing, including critical minerals, drugs and robotics
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Defense, including drones and advanced communications
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Energy independence
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Advanced technologies, including artificial intelligence and cybersecurity
               </span>
              </li>
             </ul>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The plan includes up to $10 billion in direct equity and venture capital investments by the bank in a group of mostly American companies.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The initiative will draw from the firm’s corporate and investment banking teams, asset management, and its own technology investments. JPMorgan said it would hire more bankers and investment professionals, and will create an advisory council to help steer its strategy.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Worth noting:
         </span>
         <span>
          JPMorgan had already planned to direct or finance about $1 trillion to help clients in those areas, meaning that the plan represents an increase of a still-sizable $500 billion.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          JPMorgan isn’t the only company doing this.
         </span>
         <span>
          Even before Trump’s second term began, the Japanese tech investor
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          SoftBank
         </a>
         <span>
          pledged to invest $100 billion in the country. In August,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Apple
         </a>
         <span>
          said it would invest an additional $100 billion in the U.S., for a total of $600 billion in commitments. And
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Pfizer
         </a>
         <span>
          said last month it would invest $70 billion in R.&amp;D. and other capital projects.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Critics of such plans have questioned how many of these corporate mega-promises will be fulfilled, and said they appear tailored in part to win points with Trump.
         </span>
        </p>
        <table width="100%">
         <tbody>
          <tr>
           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Jefferies’s First Brands defense
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The bankruptcy filing of First Brands, the midsize auto parts maker, has continued to have
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          an outsized hit
         </a>
         <span>
          on global financial giants.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          One of them, the Wall Street bank Jefferies, is
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          seeking to quell investor fears
         </a>
         <span>
          about the damage it took from the manufacturer’s troubles.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Any losses Jefferies takes from First Brands “can be readily absorbed”
         </span>
         <span>
          and the manufacturer’s collapse doesn’t threaten its own financial stability, the bank said in a statement yesterday. The lender has already said one of its asset-management units could lose about $715 million.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “We believe there has been an impact on our equity market value and credit perception that is meaningfully overdone, and we expect this to correct soon as the facts and range of outcomes are better understood,” Rich Handler and Brian Friedman, the bank’s co-C.E.O.s, wrote in the statement.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Jefferies listed its resources,
         </span>
         <span>
          including $10.5 billion in total equity, $8.5 billion in tangible equity and $11.5 billion in cash. It also recently expanded a partnership with Sumitomo Mitsui of Japan that includes $2.5 billion in new and expanded credit lines.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Handler and Friedman denied that the bank earned undisclosed fees from providing financing to First Brands, via its Point Bonita asset-management unit. They added that “nobody at Jefferies was aware of fraudulent activity at First Brands.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Has Jefferies succeeded in calming investors?
         </span>
         <span>
          Shares in the bank are up 2.5 percent in premarket trading, though they remain down 22 percent over the past month.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Handler and Friedman could face more questions at the bank’s annual investor meeting on Thursday.
         </span>
        </p>
        <table width="100%">
         <tbody>
          <tr>
           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
          </tr>
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           <td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
           </td>
          </tr>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <img alt="Marc Benioff in a blue suit and white shirt, spreading his arms to the side, in front of a red background." class="css-xsf469" height="375" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2025%252F10%252F13%252Fmultimedia%252F13db-benioff-fbkp%252F13db-benioff-fbkp-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NjAzNTcyMTUuMzA0NDY1OH0:1v8HKJ:A190I7LkgOfCiWcvIag9UbKpNaMo5zI1r05LEGHbb9I" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
           </td>
          </tr>
          <tr>
           <td style="text-align:center;width:100%;padding-top:3px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:right">
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Jim Wilson/The New York Times
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          “What about the political questions? Too spicy?”
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-style:italic">
          —
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-style:italic">
          Marc Benioff
         </a>
         <span style="font-style:italic">
          , Salesforce’s C.E.O., to a P.R. adviser at the end of an interview with The Times’s Heather Knight. Benioff, one of the biggest donors to San Francisco causes and a backer Hillary Clinton in 2016, had just said he “fully” supported President Trump and believed National Guard troops should be sent to the city. (Local officials sharply rebuked Benioff’s comments.)
         </span>
        </p>
        <table width="100%">
         <tbody>
          <tr>
           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
          </tr>
          <tr>
           <td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Nobel breakthroughs
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Just in: The Nobel Memorial Prize in Economic Sciences
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          was awarded to
         </a>
         <span>
          Joel Mokyr of Northwestern University, Philippe Aghion of INSEAD and the London School of Economics, and Peter Howitt of Brown University, for their work on innovation and growth.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Last week’s
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          winner in chemistry
         </a>
         <span>
          is already creating buzz in the green economy. The technology recognized this year, a molecular sponge called metal-organic frameworks, or MOFs, may finally make the nascent field of carbon capture economically viable.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Carbon capture has caught the attention of the fossil fuel industry and the green tech sector, with the promise of extracting planet-warming pollutants from the air. Companies building carbon capture technologies have since 2018
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          raised billions
         </a>
         <span>
          from major investors, including Bill Gates, Jeff Bezos and Elon Musk. But the industry has
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          struggled
         </a>
         <span>
          to scale up, trapping just 0.1 percent of global CO2 emissions, according to the
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          World Resource Institute
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
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          One of the biggest challenges is cost.
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          Many existing solutions use carbon-trapping solvents, which require large amounts of energy to strip out the carbon once it’s trapped. MOF-based systems, however, use filters that trap carbon that can be blown off with low-pressure steam, and can be built as modular structures, keys for scaling.
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                largely unimpressed with Wall Street’s push
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                to make private assets a staple of 401(k) portfolios. (WSJ)
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                Brookfield is said to be
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                nearing a $3 billion deal
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                to acquire the remainder of the distressed-debt specialist Oaktree it doesn’t own. (Bloomberg)
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                “A.I. Promises Productivity.
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                help design physical spaces
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                heats up. (FT)
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                Most Powerful High School Cafeteria
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                ” (NYT)
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                as the mayoral front-runner seeks to win over New York’s business elite. (NYT)
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