Good morning. The founder and head doctor of telehealth company Done Global were arrested and charged with fraud, accused by federal authorities of conspiring to provide easy access to Adderall and other stimulants.

• Allegations: Done founder Ruthia He and clinical leader David Brody allegedly arranged for the prescription of more than 40 million stimulant pills and targeted “drug seekers,” spending tens of millions of dollars on “deceptive” social-media advertising, according to the Justice Department.
   
• Accused of Medicare fraud: The executives “conspired to defraud pharmacies and Medicare” and other insurers, and He and others at the company allegedly made false claims about Done’s prescribing practices to pharmacies to get prescriptions filled. The government also accused He and Brody of obstruction of justice. The startup collected more than $100 million in revenue, the Justice Department alleged.
   
• Journal investigation: The charges culminate a two-year investigation that followed articles in The Wall Street Journal describing how some Done clinicians felt pressured to prescribe stimulants such as Adderall, while others wrote prescriptions much faster than is typical for clinicians doing thorough patient evaluations.

Apple sued by employees alleging unequal pay for women.

Two female Apple employees filed a proposed class-action lawsuit Thursday alleging the company pays women lower salaries than men for similar work.

Latest legal action. The suit, filed in a San Francisco state court, targets Apple’s hiring practices used to set compensation, as well as the company’s performance-review policies. It is the latest in a series of pay equity lawsuits against major corporations, including large tech giants, that allege they underpay women and minorities.

Supreme Court sides with Starbucks in challenge to labor board.

The Supreme Court on Thursday backed Starbucks in a battle with the National Labor Relations Board, potentially making it more difficult for the agency to take action on behalf of workers fired during union drives. 

Findings. The court, in an opinion by Justice Clarence Thomas, said lower courts followed an approach that was too favorable to the NLRB when they ordered the reinstatement of seven terminated Starbucks workers in Memphis who had been involved with a unionizing campaign. The employees alleged they were unlawfully fired after they started the union effort. Starbucks said it fired the workers for violating company policies.

• Tyson Foods said it suspended its chief financial officer, John R. Tyson, after he was arrested early Thursday on charges of driving while intoxicated.
   
• Tesla shareholders voted to reapprove Elon Musk’s multibillion-dollar pay package, signaling support for the EV maker’s longtime leader and giving the board ammunition in its fight to preserve the court-rejected compensation plan. Now the company has to figure out how to pay him.
   
• A federal judge said she was unlikely to approve a proposed settlement in a long-running lawsuit that alleges Visa, Mastercard and large U.S. credit-card issuers restrict competition over the fees merchants pay when they accept credit cards.
   
• Tennessee has banned the popular retail brokerage Webull from government-issued computers and smartphones of state employees, citing security risks posed by its ties to China.
   
• Swiss authorities have shut down FlowBank SA, saying the online-trading platform had run short of capital and its "financial situation is much worse" than originally reported.
   
• Walt Disney and Florida Gov. Ron DeSantis ended their long-running fight after the media company reached a 15-year agreement that will allow for the continued expansion of its Orlando-area resort.

Stung by past mistakes, a wary Fed takes its time.

Federal Reserve Chair Jerome Powell’s approach to cutting interest rates based on forecasts that inflation will continue moving lower could be summed up by the phrase “Trust, but verify.”

On Wednesday, officials held rates steady and offered little evidence that they were prepared to begin lowering interest rates soon, as their counterparts in Canada and Europe began doing last week.

A new Chinese megaport in South America is rattling the U.S.

In this serene town on South America’s Pacific coast, China is building a megaport that could challenge U.S. influence in a resource-rich region that Washington has long considered its backyard.

Its importance. The Chancay deep-water port, rising here among pelicans and fishermen in small wooden boats, is important enough to Beijing that Chinese leader Xi Jinping is expected to inaugurate it at the end of the year in his first trip to the continent since the pandemic.

Could transform trade. Majority-owned by the giant China Ocean Shipping group, known as Cosco, Chancay promises to speed trade between Asia and South America, eventually benefiting customers as far away as Brazil with shorter sailing times across the Pacific for everything from blueberries to copper.

• The Bank of Japan said it would reduce government bond purchases in a signal of monetary tightening, as it left its policy interest rate unchanged. Monetary tightening in general should support the yen, but the Japanese currency instead weakened Friday because the central bank didn’t offer specifics on its bond plans.
   
• Though largely ineffective, the Houthi attacks on commercial vessels and warships in the Red Sea have been able to disrupt shipping and keep the U.S. and its allies tied down, frustrating the Navy’s decades-old mission of keeping open the region’s critical sea lanes.
   
• Chinese electric-vehicle makers, increasingly a global force, have been bracing for months for the prospect of hefty tariffs in Europe, one of their most promising markets. When that day arrived on Wednesday, many were prepared.

• Companies such as IKEA are mapping chemicals in wood to know their provenance and keep illegal timber shipments out.
• A court ruling against the SEC’s new private-fund rules ignores how much individuals invest in these funds. (🔒)
• A new pitch to revive chewing gum sales.
• 🎧 Listen to Target’s supply-chain chief describe how the retailer coped with a steep overstocking problem even as it brought its fulfillment strategy into its stores.

• The Supreme Court on Thursday unanimously rejected an effort seeking to restrict access to the abortion pill mifepristone.
   
• Senate Republicans blocked a Democratic bill protecting in vitro fertilization, while also working to reassure constituents that they supported access to the popular fertility treatment.
   
• President Biden and key European leaders reached an agreement to finance Ukraine with a loan of up to $50 billion, backed by the profits on frozen Russian assets.
   
• Gaza’s war-weary population is growing increasingly frustrated with the fruitless cycles of cease-fire talks, as a new poll of Palestinians shows support for Hamas dwindling in the enclave.
   
• Russian prosecutors said they have approved an indictment of Evan Gershkovich, the Wall Street Journal reporter held in Russia for over a year, falsely accusing him of espionage and referring his case to a trial court, where he could face a series of secret, closed-door hearings.

Follow us on X 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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