Good morning. Earlier this year, federal prosecutors in Washington made innovative use of securities-market data to bring a first-of-its-kind insider-trading case. Now, they are looking to expand their data-analytics capabilities, including by using suspicious-activity reports filed by banks to hunt for overseas bribery.

The latest push by the Justice Department to broaden the types of data it can sift through to look for corporate crime was overseen by Assistant Attorney General Kenneth Polite, who is preparing to step down from his position as head of the department’s criminal division by the end of July. After a short break, he plans to join a law firm later this summer.

• A focus on data analytics: The Justice Department’s recent use of data analytics is a sea change for how such techniques have traditionally been used in criminal cases. Where data was applied in the past to build a case once it had already been identified, the goal of the department’s more recent efforts has been to find cases where patterns in the data warrant further investigation, according to Polite.
   
• What's ahead: In recent months, Justice Department officials have hinted that the next area they plan to scrutinize using data analytics will be in their enforcement of the Foreign Corrupt Practices Act, a 1977 statute that prohibits companies from paying bribes to foreign officials to gain a business advantage. Specifically, prosecutors are looking to use the suspicious-activity reports filed by banks to hunt for potential bribery violations, Polite said.

U.S. companies score partial reprieve from global minimum tax deal.

U.S.-based companies won relief from two pieces of the global minimum tax deal, and the changes will delay or reduce the taxes they are set to pay to foreign countries.

Under the updated agreement negotiated by the Treasury Department, companies will have an extra year—until 2026—before foreign countries can start imposing new taxes on any U.S. companies deemed to pay too little tax in the U.S. And the clean-energy tax credits at the core of last year’s Inflation Reduction Act will be counted in a more favorable way than some companies had feared, offering certainty as a tax-credit trading market gets under way.

• Three environmental groups called on the Environmental Protection Agency to shield the public from the release of lead from cables left behind by telecom companies.

Russia steps up economic war with West, seizing assets of big conglomerates.

Russia has unexpectedly seized the local operations of Carlsberg and Danone, two of the world’s largest consumer-goods companies, in a move that escalates economic hostilities with the West.

In a decree signed by President Vladimir Putin on Sunday, Russia placed Danone and Carlsberg’s local operations under temporary management, putting them under the control of the federal state property management agency, Rosimushchestvo.

The move is the second time Russia has seized Western assets in the country since the Kremlin unveiled a decree in April that allows the state to take temporary control of assets of companies or individuals from what Moscow calls “unfriendly” states.

Restricting chip sales to China could backfire on U.S., industry group says.

The Biden administration’s potential curbs on sales of advanced semiconductors to China could undermine huge new government investments in domestic chip-making, the U.S. chip-industry trade group said Monday.

The Biden administration is considering a raft of new curbs on the sale of chips to China, aiming to disrupt Beijing’s use of artificial intelligence for hacking and weapons development. At the same time, the administration is rolling out $39 billion in grants for new U.S. chip-making plants after the passage of the Chips Act last year.

• Carvana is a hot stock again, a reminder of its pandemic glory days. But the used-car seller’s bonds are signaling a high risk of default.
   
• Social media was more than a decade old before efforts to curb its ill effects began in earnest. With artificial intelligence, lawmakers, activists and executives aren’t waiting that long.

• Binance slashed its employee benefits last month in the wake of falling profit, a sign of the financial strain hitting the crypto giant.
   
• A high-level corruption probe and the resignations of two ruling-party lawmakers over an extramarital affair have rocked Singapore, where the political elite have built their legitimacy on a reputation for clean government.
   
• A Ukrainian strike disabled the only road bridge connecting Russia with the occupied Crimean Peninsula, hitting once again a major symbol of President Vladimir Putin’s rule.
   
• Millions of people from the Great Plains to the Northeast were under air-quality alerts Monday as smoke billowed into the U.S. again from Canadian wildfires that may continue to rage into the fall.
   
• President Biden agreed to meet Israeli Prime Minister Benjamin Netanyahu later this year, working to ease tensions after the administration criticized moves by Israel’s right-wing government.
   
• U.S. attempts to foster closer military integration among allies are extending into space.

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