Federal Agent Shoots Two People in Portland

Caitlin McCabe (0:00)

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Portland's police chief urges calm after two people were shot by federal agents. Plus, the House passes a bill to extend health care subsidies as 17 republicans cross party lines. And we take a look at how America's new dietary guidelines are colliding with Wall Street.

Jesse Newman (0:37)

This is really going to force companies to speed up. So they are going to be looking at how can they simplify their recipes, how can they use cleaner ingredients, how can they take out additives. And a lot of these moves that they're going to have to make are going to make food more expensive, not less.

Caitlin McCabe (0:53)

It's Friday, January 9th. I'm Caitlin McCabe for the Wall Street Journal and here's the AM Edition of What's News. The top headlines and business stories moving your world today. We begin in Portland, Oregon, where a man and woman were shot yesterday by federal agents during a vehicle stop. They are now in the hospital where their conditions are unknown. The Department of Homeland Security said a US. Border Patrol agent fired his gun after a driver attempted to run over officers.

The agency said the driver and passenger are affiliated with a Venezuelan gang involved in a recent shooting in the city. Portland Police Chief Bob Day urged the community to stay calm as officers and the FBI worked to learn more about the situation. Speaking alongside him, Portland Mayor Keith Wilson condemned the shooting and called on ICE to leave the city.

Keith Wilson (1:44)

Violence in our community is devastating. These are not statistics. These are human beings. Portland is not a training ground for militarized agents. When the administration talks about using full force, we are seeing what it means on our streets.

Caitlin McCabe (2:04)

The Oregon shooting comes just one day after a separate fatal shooting of 37-year-old Renee Nicole Good in Minneapolis by an ICE agent, which has sparked protests in cities across the US. Tensions between authorities in Minnesota and the federal government over her death have intensified, with local law enforcement officials saying yesterday that the FBI blocked them from participating in an investigation into the incident. Turning now to Capitol Hill, where the House has defied the Republican leadership and passed legislation to extend expired health care subsidies. It marks a win for Democrats, with House Minority Leader Hakeem Jeffries saying the vote will prevent dramatically higher insurance premiums.

Hakeem Jeffries (2:54)

House Democrats, every single one of us joined by 17 Republicans have partnered in a bipartisan way to protect the health care of the American people.

Caitlin McCabe (3:09)

The vote underlines how some centrist Republicans are willing to break with their party ahead of the coming midterms, arguing that an extension could give the party more time to improve the program. The bill will now go to the Senate where pressure is building for a compromise.

In corporate news, Elon Musk's XAI is under fire from child safety groups and regulators. After an update to its Grok chatbot in late December allowed users to create sexualized photos. Including of children. In a post overnight, Grok said it had switched off its image creation function except for paying subscribers, making it unavailable for the vast majority of users. We are exclusively reporting that the parent company of Saks Fifth Avenue and Neiman Marcus is nearing a $1.25 billion bankruptcy deal to be announced within days. The Chapter 11 proceedings are being led by a group of bondholders including Bracebridge Capital and Pentwater Capital. But PIMCO has also submitted a competing offer to finance the business with a $1.5 billion loan. And talks are underway to create the world's largest mining company with a market value of more than $200 billion. Rio Tinto is expected to buy copper miner Glencore and has until February 5th to confirm the deal under UK takeover rules. The deal comes as miners across the industry look to capitalize on a scramble for copper, which is used in data centers supporting AI and cloud computing. Coming up, we take a look at which food giants stand to win and lose under America's new dietary guidelines. Plus, why Saudi Arabia is quietly lifting its booze ban. Those stories after the break.

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