After Hermès heir Nicolas Puech announced his $15 billion fortune was missing, accusations started flying. Who had taken the money? Was it his handyman? His financial advisor? Puech himself? In this second episode, WSJ’s Nick Kostov reveals the answer in what could be the fraud of the century. Jessica Mendoza hosts. Further Listening: The Case of the Missing $15 Billion Fortune: Part 1 The World's Richest Person Is Planning for Succession Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hermès is one of Europe’s most storied luxury brands, known for its Birkin bags and expensive silk scarves. One of the company’s biggest shareholders had been fifth-generation Hermès heir Nicolas Puech. But a few years ago, Puech made a shocking admission: he was out of money. And Puech’s Hermès shares, worth some $15 billion, were missing. In this first episode, WSJ’s Nick Kostov digs into one of the most baffling and epic financial sagas of this century. Jessica Mendoza hosts.   Further Listening: The World's Richest Person Is Planning for Succession Are Diamonds Even a Luxury Anymore? How a Miami Couple Used Empty Mansions to Pocket Millions Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Pokémon cards are beating the benchmark S&P 500 and tech stocks like Meta. WSJ’s Krystal Hur has been talking with a few collectors that have hit it big thanks to some prized sparkly cardboard from their childhoods. But are there signs of a bubble and that we’re reaching peak Pikachu? Jessica Mendoza hosts. Further Listening: - The $55 Billion Deal to Take EA Private - GameStop and the Rise of the Reddit Investor Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Kentucky Fried Chicken was once one of the biggest fast-food chain in America. Now, it’s battling declining U.S. sales as rivals attract customers with chicken sandwiches and tenders over KFC’s classic bucket of bone-in chicken. WSJ’s Heather Haddon reports on how the iconic chain is trying to turn things around. Ryan Knutson hosts.  Further Listening: - Can Pepsi Make a Comeback? - McDonald’s Wants To Offer Quality And Value. Can It Do Both?   Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Corporate layoffs have been rolling across American companies: Amazon, General Motors, Verizon, Target and Microsoft have all cut jobs. WSJ’s Chip Cutter takes us inside his conversations with CEOs about how hiring is changing, and what the AI era means for jobs. Ryan Knutson hosts. Further Listening: - Hollywood Jobs Are Disappearing - Is the Economy Getting Better or Worse? The fed Says it’s Hard to Tell Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Once one of President Trump’s most strident allies, Congresswoman Marjorie Taylor Greene is now arguing the president is out of touch with his political base. Trump, in turn, has called her a “traitor” and unendorsed her. As WSJ’s Olivia Beavers reports, Greene was one of a few Republicans who broke with Trump this year over the release of the Justice Department’s Jeffrey Epstein-related files. Now, with those files set to be released, Greene is redefining her political identity. Jessica Mendoza hosts. Further Listening: - Trump’s Letter to Jeffrey Epstein - The Healthcare Fight at the Heart of the Longest Ever Shutdown Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

After five quarters of lagging sales and a sluggish stock price, Nike CEO Elliott Hill is trying to turn things around. WSJ’s Inti Pacheco spoke with Hill to discuss Nike's return to its roots and plans for future innovation. Ryan Knutson hosts. Further Listening: - The Missteps That Led Nike Off Course - Made in America? Shoe Companies Already Tried That. Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The daylight heist at the Louvre Museum in October, during which thieves made off with more than $100 million in crown jewels, captured the world's attention. But the theft was just one in a series that have taken place at museums all across France this year. WSJ’s Noemie Bisserbe explains how the wave of heists reveals deep-rooted security vulnerabilities in the country’s hundreds of museums— and raises questions about what it takes to protect national treasures. Jessica Mendoza hosts. Further Listening: - How an Antiques Dealer Uncovered a Massive Museum Heist - Six Days of Chaos at MGM's Casinos - How Investigators Cracked a $3.4 Billion Crypto Heist Learn more about your ad choices. Visit megaphone.fm/adchoices

The repossession business is booming. More Americans are falling behind on their car payments, a sign that lower-income consumers are struggling. WSJ’s Scott Calvert recently joined a night shift with two repo men and learned that despite a record number of cars now marked for repossession, finding them is easier said than done. Jessica Mendoza hosts. Further Listening: - For Millions of Student-Loan Borrowers It’s Time to Pay - The 20,000 Steps to a Walmart Manager’s Six-Figure Salary Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Americans could soon lose access to Italian-made pasta due to a 107% tariff plan on pasta imports. WSJ's Margherita Stancati unravels how a fight over paperwork spiraled into a full-blown pasta war. Jessica Mendoza hosts.   Further Listening: - How One Business Owner Is Getting Ahead of Trump's Tariffs  - The Bean at the Center of the Trade War Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

WSJ’s Dan Gallagher takes us inside the little-known company playing a pivotal role in the AI spending boom. And Jessica Mendoza speaks to CoreWeave CEO Mike Intrator at WSJ Tech Live conference about whether the boom could be a bubble. Further Listening: - Is the AI Boom… a Bubble? - The Unraveling of OpenAI and Microsoft's Bromance - Artificial: The OpenAI Story Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Work in Los Angeles’s entertainment industry is evaporating. A desire to cut production costs, changing viewer habits, and competition from other filming locations are all contributing to a dramatic reduction in Hollywood jobs. WSJ’s Ben Fritz explains how the city’s creative middle class is bearing the burden. Jessica Mendoza hosts. Further Listening: - Ron Howard and Brian Grazer on Longevity in Hollywood - The Case of the Hollywood Shutdown Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Shareholders at Tesla approved the most valuable pay package ever for Elon Musk in an effort to bring his attention back to the company. The CEO will have to hit a number of milestones to get the full value of the package, including shifting Tesla’s focus to developing robotaxis and humanoid robots. WSJ’s Becky Peterson breaks down the complicated plan with Jessica Mendoza. Further Listening:  Why GM Is Slamming the Brakes on EV Ambitions Why Elon Musk’s AI Chatbot Went Rogue Tesla Has a Problem: Elon Musk Sign up for WSJ’s free What’s News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

On Wednesday, the Supreme Court heard oral arguments in a case that could reverse President Trump’s sweeping tariffs, and potentially upend the central piece of his economic policy. WSJ’s James Romoser breaks down the case on both sides and explains why some conservative justices are skeptical of Trump administration’s argument for the tariffs. Ryan Knutson hosts. Further Listening: The Supreme Court’s Season Finale, Explained Trump 2.0: A Showdown With the Judiciary Sign up for WSJ’s free What’s News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

At WSJ’s Tech Live, Jessica Mendoza sits down with Michael Kratsios, Director of the White House Office of Science and Technology Policy to discuss the pivotal moment in the U.S.-China AI race, how he thinks AI should be regulated, and whether or not the AI boom might be a bubble.  Further Listening: - Is the AI Boom… a Bubble? - How a $1.5 Billion Settlement Could Alter the Course of AI  - The Nvidia CEO’s Quest to Sell Chips in China Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The debate over healthcare subsidies has shut down the federal government for a historic length of time. With open enrollment underway, many Americans who pay for plans under the Affordable Care Act are experiencing sticker shock. Some costs have doubled, tripled, or even quintupled. WSJ’s Anna Wilde Matthews takes us inside the hefty premium hikes and explains why the high price tag could have an impact on the system as a whole. Ryan Knutson hosts. Further Listening: -The Healthcare Costs of Trump's Big Beautiful Bill -Medicare, Inc. Part 1: How Insurers Make Billions From Medicare -Medicare Inc. Part 2: Taxpayers Paid for care Denied by Insurers Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The historic Waldorf Astoria Hotel has reopened after an eight year saga that went $1 billion over budget. WSJ’s Craig Karmin takes us inside the deal to buy the hotel, the arrest of its new owner and the Chinese government’s takeover. Ryan Knutson hosts. Further Listening:- Six Days of Chaos at MGM’s Casinos- The Missing Minister Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Etsy witch trend has taken witchcraft into the mainstream. These online witches are making their magical services available to anyone willing to pay for them. Want a job? Or a boyfriend? There’s a spell for that. WSJ’s Chavie Lieber explains why it pays to be a witch. Jessica Mendoza hosts. Further Listening: -Etsy: Big Commerce or Crafters' Community? -Lady Gaga, Low-Rise Jeans, and the Next Recession   Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

On Wednesday, the Federal Reserve announced a highly anticipated quarter-point cut to interest rates. But the road to future rate cuts is pretty murky. WSJ’s Nick Timiraos explains how missing government data is obscuring the Fed’s view of the economy, and why Fed Chair Jerome Powell says a December rate cut is “not a foregone conclusion.” Ryan Knutson hosts. Further Listening:  - The Government Shutdown: Who Will Blink First? - The Drama at the Fed as It Debates Cutting Rates  Sign up for WSJ’s free What’s News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In 2021, GM and its CEO Mary Barra announced a bold plan to go all electric by 2035. But falling consumer demand and shriveling government support has undermined GM’s electric plans. Now, as Sharon Terlep reports, GM has gone from one of the industry’s loudest EV champions to a leading opponent of government emissions rules and fuel-economy standards. Ryan Knutson hosts. Further Listening: -What Happened to GM’s All-Electric Bet? -Tesla Has a Problem: Elon MuskSign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices