Good morning. Let the battle begin.

Facebook parent Meta Platforms on Wednesday launched Threads, a stand-alone microblogging app that takes direct aim at Twitter as user unrest on that platform has grown since Elon Musk took the company over in October. 

On Thursday, a Twitter attorney sent a letter to Meta questioning whether the launch of Threads represented a “misappropriation” of trade secrets or intellectual property, alleging that Meta has hired Twitter employees and assigned them to work on Threads.

• New app on the block: Threads will use some of Instagram’s infrastructure and allow people to use their Instagram login, a step that is likely to help it gain a following quickly, analysts have said.
   
• Trolls before LOLs: A few hours after Threads went live, Musk tweeted that "it is infinitely preferable to be attacked by strangers on Twitter, than indulge in the false happiness of hide-the-pain Instagram."
   
• Allegation denied: “No one on the Threads engineering team is a former Twitter employee—that’s just not a thing," said a Meta spokesman.

Don’t sell edibles that look like Doritos, federal officials tell companies.

Federal officials warned six companies to stop selling cannabis products in packaging that is “almost identical” to that of popular snacks like Doritos, gummy bears and Nerds candy.

The copycat packaging being used to sell Delta-8 THC, a psychoactive substance sourced from hemp, can make it easier for children to accidentally ingest the product, according to the Federal Trade Commission.

DoorDash, Uber Eats and Grubhub sue New York City over minimum-wage law.

DoorDash, Uber Eats and Grubhub sued New York City on Thursday to block a new law that sets minimum wages for food-delivery workers, escalating a battle between the apps and the city over how the industry should be regulated.

The city recently passed a law that sets new pay rates for app-based delivery workers.

• The maritime shipping industry is revising its long-range strategy for cutting carbon emissions, and signs are emerging that it won’t go as far as some Western countries and environmental groups have wanted.
   
• Trade groups representing publishers, advertisers and videogame companies have come out against the Federal Trade Commission’s proposed requirement that companies offer consumers an easy click-to-cancel way to get out of subscriptions and memberships.

Americans have quit quitting their jobs.

The surge in Americans quitting their jobs has abated since peaking during the pandemic, another sign that the labor market is cooling from ultrahot levels as the Federal Reserve raises interest rates.

A slowdown in voluntary departures can indicate a softening labor market if it reflects employers’ easing demand for workers, economists say. Employees might have less confidence they will find a better job or feel they have less bargaining power.

• Having a single person leading technology and cybersecurity functions can increase efficiency in day-to-day operations, and allow for more pragmatic long-term planning, executives who wear both hats say.
   
• Israel shelled a village in southern Lebanon on Thursday after explosions were heard in a disputed border area, raising fears of a multifront escalation between Israeli forces and Palestinian militants in Lebanon, Syria and Gaza.
   
• Iran’s oil exports have hit a five-year high in recent months as the country sells more to China and other countries, adding large volumes of discounted crude to a global energy market already struggling amid concerns over demand.
   
• Two firefighters were killed and several were taken to the hospital after fighting a big blaze aboard a car-carrier vessel at Port Newark in New Jersey with more than 1,000 vehicles onboard, the fire service said. The cause is being investigated.

• Green skills in the U.S. aren’t growing as fast as green jobs, pressuring companies to get creative to find the workers they need to carry out the energy transition.
   
• The Federal Reserve operates reliable payment systems for Americans to deposit paychecks and pay bills, but it hasn’t offered an instant one—yet.
   
• As Generation Z comes of age, food and beverage companies are scrambling to attract them to their brands. Some are finding marketing is only getting them so far.
   
• Sparsely populated workplaces are affecting corporate cultures and workers’ ambitions, leading some to step up their return-to-office mandates. But many finance chiefs are stuck in the middle.
   

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• When the Fed started raising interest rates to fight inflation, the conventional wisdom was that it would be a boon for Main Street banks. Instead, the opposite is happening.
   
• Months after it started a price war that disrupted China’s electric-vehicle industry, Tesla joined 15 Chinese automakers in a pledge to avoid abnormal pricing and promote “core socialist values.”
   
• Fidelity National Information Services has agreed to sell a majority stake in its Worldpay Merchant Solutions segment to private-equity firm GTCR for nearly $12 billion, retreating from a big acquisition it made four years ago that quickly soured.
   
• The more-wordy your fund name, the worse it does, says a professor who ran the numbers. But the reason isn’t clear.
   
• The Wall Street Journal reporter Evan Gershkovich has been unjustly detained in Russia for 100 days. 

Follow us on Twitter at @WSJRisk. Follow Risk & Compliance editor David Smagalla @DSmagalla_DJ and reporters Mengqi Sun @_MengqiSun, Dylan Tokar @dgtokar and Richard Vanderford @VanderfordRich.

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