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you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Electric vehicle startups hoping to compete with Tesla are facing a cash crunch.

Some of these EV makers have produced very few units to actually sell.

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And why Swiss Bank UBS is making another push into the U.S. market.

Plus, the U.S. Census Bureau says the country gained 1.6 million people this year.

It's Tuesday, December 19th. I'm Anne

Marie Fertulli 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.

Swiss Bank UBS is making another attempt to break into the US investment banking market.

But after more than a decade of trying, the bank is willing to settle for lower.

Number six, that's a relatively modest goal in an ambitious industry.

Joining me now to explain why UBS is tempering its expectations

is Wall Street Journal Deputy Bureau Chief David Benoit.

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