Good morning. The Biden administration needs to take stronger action to stem China’s growing dominance in making older-generation microchips that are essential across several U.S. industries, according to the bipartisan leaders of a House of Representatives panel.

• Letter to the Commerce Department: The lawmakers’ call for new efforts, including potential tariffs, is intended to counteract an overreliance on China for less-advanced chips, according to a letter seen by The Wall Street Journal. Republican Mike Gallagher of Wisconsin, chairman of the House Select Committee on the Chinese Communist Party, and Raja Krishnamoorthi of Illinois, the committee’s ranking Democratic member, wrote to President Biden’s top business and trade officials on Friday.
   
• Rise in national security concerns: Cutting-edge chip-making has garnered political attention as chips become more central to economic prosperity and national security, raising U.S. concerns about China’s expanding grasp over the industry. High-performance chips are crucial in artificial intelligence and cloud computing, as well as in cyberwarfare and spycraft.
   
• Concerns about older generation chips: Older-generation chips are still widely used in consumer electronics, cars, appliances and the defense industry—areas that also carry strategic importance for the U.S. In their letter, the representatives suggested China could become a dominant supplier of an essential technology and then use that position to punish foreign competitors.

Walgreens to pay Humana $360 million to settle drug-pricing dispute.

Walgreens Boots Alliance has agreed to pay $360 million to insurance company Humana to settle a lawsuit alleging the retail-pharmacy chain overcharged for prescription-drug reimbursements.

Walgreens disclosed the settlement in a securities filing last week. The company said it had asked a federal court to vacate a previous award in Humana’s favor for $642 million.

• Robin Hayes will step down as CEO of JetBlue Airways next month after nearly nine years at the helm, citing a doctor’s advice, as the company waits to find out whether a federal judge will block the merger with Spirit Airlines that he championed.
   
• Polish officials have resisted cooperating with an international probe into the sabotage of the Nord Stream natural-gas pipelines and failed to disclose potentially crucial evidence, according to European investigators working on the case.
   
• The president of the National Association of Realtors resigned Monday after allegedly receiving a blackmail threat, the latest in a series of blows to the giant U.S. trade organization that represents more than 1.5 million real-estate agents.
   
• Berkshire Hathaway settled a lawsuit by Cleveland Browns co-owner Jimmy Haslam’s family company over how much money Berkshire could have to pay for the remaining portion of a truck-stop chain, Pilot Travel Centers, that it doesn’t yet own.

Defense Chief Lloyd Austin declined to tell White House both times he was hospitalized.

Defense Secretary Lloyd Austin declined to inform the White House both times he was hospitalized and transferred authority to run the Pentagon to his deputy, military officials said Monday, as the questions surrounding Austin’s conduct continue to plague the Pentagon.

What happened? Austin, 70 years old, first underwent what military officials described as an “elective medical procedure” on Dec. 22 and remained at Walter Reed National Military Medical Center until the following day. During that time, Austin’s deputy, Kath Hicks, assumed some duties on Austin’s behalf. But Pentagon officials never informed the White House of that initial medical procedure, the Pentagon said Monday.

• Many companies no longer utter these three letters: E-S-G. Following years of simmering investor backlash, political pressure and legal threats over environmental, social and governance efforts, a number of business leaders are now making a conscious effort to avoid the once widely used acronym for such initiatives.
   
• A senior Hezbollah commander was killed in Lebanon in what the group said was the second recent assassination by Israel of a militant leader there, as Israel showed it is willing to target Iran-backed forces across the border while avoiding an all-out war.
   
• Secretary of State Antony Blinken outlined a series of requirements for the future of the Gaza Strip after meetings Monday with leaders of key Gulf Arab states, during a diplomatic tour of the region aimed at preventing a broader war.
   
• United Airlines said it found loose bolts on some of the MAX 9 jets in its fleet after U.S. safety regulators ordered inspections of the Boeing aircraft following a midair emergency on Friday.

• House Speaker Mike Johnson (R., La.) now has less than two weeks to pass spending legislation needed to avert a partial government shutdown, while contending with many of the same challenges that ultimately took down his predecessor three months ago.
   
• United Launch Alliance’s Vulcan Centaur vehicle powered a moon lander called Peregrine into space early Monday, but that vehicle’s propulsion system failed.
   
• For nearly three decades, the most iconic sight in golf has been Tiger Woods on a Sunday wearing a red shirt always emblazoned with the same logo: the Nike swoosh. That relationship is now over after 27 years.
   
• Novartis is close to clinching an acquisition of Cytokinetics and its promising heart drug.
   
• China has taken into custody an alleged British spy, the country’s national security agency said Monday.

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