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WSJ What’s News

Offices Go Politics-Free Ahead of Biden-Trump Rematch

WSJ What’s News

The Wall Street Journal

Daily News, News

4.14.2K Ratings

🗓️ 13 May 2024

⏱️ 13 minutes

🧾️ Download transcript

Summary

A.M. Edition for May 13. Vladimir Putin shakes up Russia’s military leadership by appointing an economist as defense minister. Plus, the United Auto Workers faces another key test in its organizing blitz in the South. And WSJ reporter Chip Cutter explains why corporate America is largely sitting out the 2024 election after previously feeling like it couldn’t afford to stay silent. Luke Vargas hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Russia shakes up its military leadership.

0:07.0

Plus, the United Auto Workers faces another key test in its southern organizing blitz and why corporate America is largely

0:16.6

planning to sit out the Trump-Biden rematch.

0:19.8

They're sick of commenting on so much, they know that their employees are all over to

0:23.9

map on some of these issues so no matter what they say some people are going to be

0:27.0

bothered by it and this really is a shift from even a few years ago when many CEOs felt that they had to take a stand.

0:36.0

It's Monday, May 13th. I'm Luke Fargis for the Wall Street Journal and here is the AM edition of

0:42.4

What's News. the top headlines and business stories moving

0:45.8

your world today. Russian President Vladimir Putin has replaced his defense minister in the most substantial

1:00.6

shakeup of Russia's military command structure since the start of its war in Ukraine.

1:05.3

Out is longtime ally Sergei Shoygu and in is economist Andre Bella Usov.

1:12.3

And I asked our Moscow Bureau Chief and Simmons what to make of the changes.

1:17.0

This is highly significant.

1:18.0

It basically tells us the extent to which the economy and an efficient economy is needed for Moscow to continue to prosecute its war.

1:27.6

This is an economist Andrei Bela Usov, he's a loyalist, he's known for advocating increased government intervention in the economy.

1:35.4

He's worked for years with Putin. And now analysts say that the defense

1:40.6

ministry basically needs to tackle corruption and it needs to be more economically efficient.

1:47.2

And if Russia wants to win this war and Putin understands this, it needs to get its fiscal house in order with regards to how the

1:56.7

defense infrastructure and the defense industry is run.

2:00.5

And I should mention Shoygu had also faced increasing scrutiny since Moscow launched its war in Ukraine, including

2:06.8

that he had failed to sufficiently prepare the armed forces for the war and was unable to

2:11.0

quickly topple Kyiv, though our reporting over the weekend suggests that at least for

...

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