Good morning. French authorities raided the Paris office of Elon Musk’s X and summoned the billionaire for an interview, a major escalation of European regulators’ battles with the social-media platform.

• Why the raid? Cybercrime prosecutors said Tuesday that they were searching X’s office as part of a sprawling investigation first opened early last year. The probe initially focused on alleged bias in X’s content algorithm but has since expanded to examine the platform’s responsibility for sexualized deepfake images produced by its Grok chatbot.
   
• Musk summoned: The raid came as French officials said they summoned Musk, former X Chief Executive Linda Yaccarino and other employees for what they described as voluntary interviews in April.
   
• What next? Prosecutors described their investigation as being at a “constructive” stage, aimed at achieving compliance with laws in France. Voluntary interviews would be a chance for executives to explain their efforts, they added. Suspects who don’t show up for such interviews in France can later be slapped with arrest warrants.
   
• U.S. concerns: The raid comes as the Republican-controlled House Judiciary Committee released a report on Tuesday, which said the European Union was involved in pressuring U.S. social-media companies to censor content, Risk Journal’s Richard Vanderford reports. 

Hundreds of Swiss bank accounts with suspected Nazi links found by investigators.

UBS is in federal court against the Simon Wiesenthal Center, seeking to prevent further litigation or payments regarding World War II-era accounts.

An independent investigator found nearly 900 accounts potentially linked to Nazi officials and party members within Credit Suisse archives. UBS is accused of attempting to silence the Simon Wiesenthal Center, which is investigating the full scope of antisemitic campaigns during World War II.

Netflix co-CEO Ted Sarandos tells Senators that the Warner deal would benefit viewers.

Netflix co-CEO Ted Sarandos told a Senate panel on Tuesday that the streaming giant’s proposed merger with Warner Bros. Discovery would be a win for entertainment, viewers, and content creators.

In a Capitol Hill hearing room, the lawmakers laid out that consolidating the media rivals would limit choice and raise prices. Sarandos tried to allay the senators’ antitrust worries, saying a combined Netflix and Warner Bros. would “strengthen the American entertainment industry, preserve choice and value for consumers, and create opportunities for creators.”

• The European Commission said it is investigating whether Chinese wind-turbine company Goldwind received foreign backing that would give it an unfair advantage in the European Union.
   
• Canada estimates that officials will aim to recover “hundreds of millions of dollars” from Stellantis and General Motors after the companies scaled back production in the country, Industry Minister Melanie Joly said Tuesday.
   
• German authorities arrested five men believed to have formed a criminal organization used to circumvent European Union sanctions by exporting goods valued at around €30 million, about $35.5 million, to Russian defense companies, Risk Journal reports. 
   
• The U.K. and Australia imposed targeted sanctions on Iranian officials for their roles in violent crackdowns against recent nationwide protests.
   
• Spain’s Prime Minister Pedro Sanchez said the country would ban social-media access for children under the age of 16, following similar restrictions Australia implemented last year.
   
• A former Federal Reserve official was found not guilty Tuesday of conspiring to share confidential central-bank information with Chinese intelligence officers.
   
• Benjamin F. Edwards has agreed to pay $750,000 to resolve allegations that it failed to adequately supervise its staff, allowing the firm’s registered representatives, including at least one senior executive, to send text messages through unapproved channels.

Ken Griffin says CEOs find Trump’s interference ‘distasteful.’

Citadel founder and CEO Ken Griffin criticized the Trump administration’s interference into the day-to-day business of American companies and raised concerns about self-serving decisions made by government officials.

“When the U.S. government starts to engage in corporate America in a way that tastes of favoritism, I know for most CEOs that I’m friends with, they find it incredibly distasteful,” Griffin said in a conversation at the WSJ Invest Live event Tuesday in West Palm Beach, Fla. “Most CEOs just don’t want to find themselves in the business of having to, in some sense, suck up to one administration after another to succeed in running their business.”

House approves measure to end partial government shutdown.

The Republican-led House narrowly passed funding legislation to end a partial government shutdown, kicking off 10 days of negotiations over immigration enforcement, after President Trump helped stamp out an intraparty rebellion.

The House voted 217-214 to fund a large portion of the government through the rest of the fiscal year, which ends Sept. 30. The Senate cleared the package last week. Trump, who urged lawmakers to back the deal, signed it into law.

• The U.S. shot down an Iranian drone aimed at the aircraft carrier USS Abraham Lincoln, and a U.S.-flagged ship outran an attempt by armed Iranian gunboats to force it to stop, as tensions heated up Tuesday in the Persian Gulf.
   
• Many of America’s longtime trade and security partners, contending with a new era of uncertain U.S. relations, have looked to hedge their reliance on Washington, in some cases warming up to Beijing. For Taiwan, as with other U.S. security partners in Asia, giving up on America isn’t an option.
   
• India secured a reduction in U.S. tariffs on its products to 18% after facing 50% tariffs last year. India’s strategy involved quiet diplomacy with the U.S. while actively pursuing trade agreements with the U.K., EU, and Canada, creating leverage.
   
• The manufacturing boom President Trump promised would usher in a golden age for America is going in reverse. After years of economic interventions by the Trump and Biden administrations, fewer Americans work in manufacturing than any point since the pandemic ended.
   
• Russia launched its biggest aerial assault of the year on Ukraine, ending a pause on strikes on Ukraine’s energy systems and dealing another blow to the country during some of the winter’s coldest days.
   
• Polish authorities arrested a Defense Ministry official Tuesday for allegedly spying on behalf of Russia and Belarus, officials said, in one of the highest-profile espionage cases to come to light inside the Polish government.
   
• Global cuts to world health aid—if not reversed—could lead to 22.6 million additional deaths by 2030, according to a new, peer-reviewed study.
   
• The strategy that rewarded companies for hoarding cryptocurrencies is now punishing them.

Join us in New York on March 4 for the inaugural Dow Jones Risk Journal Summit.

Speakers include Kaitlin Asrow, acting superintendent of the New York Department of Financial Services; Erika Brown Lee, head of global data privacy legal, Citi; Beth Collins, chief compliance officer, Walmart; Indrani Franchini, chief compliance officer, IBM; and Kevin O’Connor, general counsel, Lockheed Martin.

Request a complimentary invitation here using the code COMPLIMENTARY. Attendance is limited, and all requests are subject to approval.

• Investors’ fears that new developments in artificial intelligence will supplant software reverberated through the stock market Tuesday, dragging down the shares of companies that develop, license and even invest in code and systems.
   
• Disney has named Josh D’Amaro as its new chief executive officer, putting the man in charge of the theme parks and cruise ships, which have become its biggest source of profits, atop America’s best-known entertainment brand.
   
• Retail behemoth Walmart has hit a market capitalization of $1 trillion, becoming the first traditional retailer to reach the milestone.
   
• President Trump said he is seeking $1 billion in damages from Harvard University, the latest escalation in his administration’s fight with the institution over alleged antisemitism.
   
• Former President Bill Clinton and former Secretary of State Hillary Clinton reached a deal Tuesday to appear for depositions later this month in the House investigation into Jeffrey Epstein, avoiding a contempt-of-Congress vote in the House.