Starting in July, Connecticut will put $3200 into a trust account for each baby born to parents below a designated income level. As adults, the beneficiaries can use the money—plus investment returns—to help pay for education or a home. WSJ’s Brenda León discusses Baby Bonds and why they are gaining traction in other states too.



Further Reading: 

- Could $3,200 ‘Baby Bonds’ Help End Poverty in America? 

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Closing the Wealth Gap With a Trust Fund for Babies

The most important stories about money, business and power. Hosted by Kate Linebaugh and Ryan Knutson, with Jessica Mendoza. The Journal is a co-production of Spotify and The Wall Street Journal.

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Tesla announced last week that it’s laying off the team responsible for the biggest electric-vehicle charging network in the U.S. The move comes as consumer demand for EVs is dwindling. WSJ’s Jennifer Hiller reports on how the layoffs shocked the industry and how the change will impact efforts to build out a national EV charging network.



Further Reading:

-Tesla Is Pulling Back From EV Charging, and People Are Freaking Out 

-As Electric-Vehicle Shoppers Hesitate, Hybrid Sales Surge 



Further Listening:

-Money, Drugs, Elon Musk and Tesla’s Board 

-How China’s BYD Overtook Tesla 

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Why Is Tesla Pulling Back on EV Charging?

Walmart is offering higher pay, bonuses and more stock options this year to retain and attract managers. WSJ’s Sarah Nassauer spent a day with one manager, Nichole Hart, to understand why the job is commanding such a high salary these days, and why Hart logs about 20,000 steps a day.



Further Reading:

- A Day in the Life of a Walmart Manager Who Makes $240,000 a Year 

- Walmart Takes On Trader Joe’s and Whole Foods With New Premium Brand 

Further Listening:

- What Walmart’s Aisles Say About the American Consumer 



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The 20,000 Steps to a Walmart Manager's Six-Figure Salary

The high price of baby eels has triggered an upsurge in illegal fishing and criminal activity in Canada. Earlier this year, the country announced a ban on baby-eel fishing in an attempt to contain the violence and to protect dwindling fish stocks. We speak to WSJ’s Paul Vieira and to a baby-eel fisherman about how a tiny fish has created a turf war in a remote Canadian community.



Further Reading: 

-Guns and Death Threats Spur Canada to Reel in Baby-Eel Fishing 



Further Listening: 

-Will Florida’s Plan to Get Cheap Drugs From Canada Work? 

-Canada’s Historic Settlement with Indigenous People 

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Guns and Death Threats in Canada’s Baby-Eel Fisheries

The National Basketball Association is in advanced stages of a new round of media-rights deals. WSJ’s Amol Sharma unpacks why several major media players are jostling for the lucrative rights.



Further Reading:

-NBC Prepares $2.5-Billion-a-Year Bid to Pluck NBA Rights From TNT 

-Amazon, YouTube Vie for NBA Streaming Rights as League’s Media Talks Heat Up 



Further Listening:

-Why Three Media Giants Are Betting on Sports Streaming 

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The NBA's Media Rights Are Up for Grabs. Billions Are at Stake.

On Monday, Bob Bakish stepped down as CEO of Paramount, one of America’s most iconic media companies. WSJ’s Jessica Toonkel reports on how Bakish’s relationship with Shari Redstone, chair of Paramount, has deteriorated amidst one of the messiest merger dramas in recent history. 



Further Reading: 

- A Media Heiress’s Bid to Sell Sets Off Mayhem Inside Paramount 

- How Bob Bakish, the Anti-Mogul CEO, Struggled to Rescue Paramount 

- Shari Redstone’s Path to Power 



Further Listening: 

- Why Buying Paramount Global Won’t Be Easy 



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Closing the Wealth Gap With a Trust Fund for Babies

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