What the U.S. Government Is Doing With Its Stakes in Companies
5/7/202611 min
P.M. Edition for May 7. During Trump’s second term, his administration has announced direct investment stakes in at least 10 companies such as Intel and U.S. Steel. We hear from WSJ reporter Maggie Severns about why this is an unorthodox approach by the government and how American executives are responding. Plus, Secretary of State Marco is in Rome in an effort to repair the relationship with Pope Leo and Italian leaders. National security reporter Robbie Gramer gives us an update from the Italian capital. And Elon Musk is being summoned to France to face criminal charges in a sprawling investigation of his social media platform, X. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Alex Ossola· Host0:29
[upbeat music] The US government is now an activist investor. How is the business community reacting? Plus, Secretary of State Marco Rubio is in Rome trying to smooth things over with the Pope and Italy's leadership.
Robbie Gramer0:45
A lot of Italian officials, lawmakers, even those in the Vatican, see Rubio as Trump's Mr. Fix-It.
Alex Ossola· Host0:52
And French prosecutors seeking criminal charges for Elon Musk summon him to Paris. It's Thursday, May 7th. I'm Alex O'Sulla for the Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that moved the world today. We begin this evening's show with a key insight into how people are spending their money, thanks to the latest earnings from the world's biggest burger chain. McDonald's has been doubling down on value meals and other low-cost menu items. That's helping it bring people in. Its first-quarter revenue and profit beat Wall Street's forecast. In the US, same store sales rose