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WSJ Minute Briefing

NBA Head Coach, Player Arrested in Illegal Gambling Probe

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1671 Ratings

🗓️ 23 October 2025

⏱️ 3 minutes

🧾️ Download transcript

Summary

Plus: Rivian lays off over 600 workers in an attempt to save amid EV pullback. And home sales rise in September due to lower borrowing costs. Zoe Kuhlkin hosts. Sign up for WSJ’s free What’s News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Corporate megastores are spending millions lobbying DC politicians on one-sided policies that send small businesses tumbling.

0:08.1

They want to enact harmful credit card mandates that take resources away from your local credit union and community bank.

0:14.7

Leaving Main Street businesses with less access to credit, making it harder for your family to pay for everyday goods like gas and groceries.

0:23.0

Tell Congress to guard your card and oppose the Durban Marshall Credit Card mandates.

0:28.4

Paid for by Electronic Payments Coalition.

0:34.1

Here's your midday brief for Thursday, October 23rd. I'm Zoe Colkin for the Wall Street Journal.

0:40.8

Portland Trailblazers head coach Chauncey Billups and Miami Heat Guard Terry Rozier were arrested

0:46.0

in connection with a sweeping federal investigation into illegal gambling and game rigging in the NBA.

0:51.7

Prosecutors in the Eastern District of New York have been investigating

0:54.8

whether Rozier conspired with gamblers to manipulate his performance during a March 23 game

1:00.6

while he was playing for the Charlotte Hornets. Billups' arrest was in connection with illegal

1:05.3

gambling, not sports betting, according to people familiar with the matter. The Portland Trailblazers

1:10.4

didn't immediately

1:11.1

respond to inquiries. Rozier's lawyers said they had been in communication with prosecutors,

1:16.0

but were told he was a subject, not a target, of their investigation, up until his arrest.

1:22.5

We're exclusively reporting, Rivian is implementing a new round of layoffs, affecting around

1:27.3

4% of its total workforce, as the electric truck maker attempts to preserve cash amid a broader pullback from electric vehicles.

1:34.3

People familiar with the matter said that more than 600 workers are slated to lose their jobs, following a smaller layoff round conducted a month ago that impacted one and a half percent of the staff.

1:44.8

The company is struggling with factors like the recent end of the $7,500 federal tax credit

1:49.9

and changes in compliance credits, which Rivian estimates could hold up $100 million in revenue.

1:57.7

And sales of existing homes increased by one and a half percent in September, reaching a

2:02.7

seasonally adjusted annual rate of $4.06 million, the highest level since February, and a

...

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