Samsung leader hit with arrest warrant, Alphabet scraps plan to blanket the globe with WiFi balloons, and more news

A South Korean court authorized the arrest of Samsung's de facto head, Lee Jae-yong, in a corruption scandal that has "shaken South Korea’s political and corporate establishments and led to the president’s impeachment," the Wall Street Journal writes. Samsung acknowledges making roughly $37 million in payments but denies they were "in exchange for political favors."

=> Miss the last update? Catch up here

Alphabet scrapped Project Loon, an ambitious endeavor that aimed to blanket the world with WiFi with balloons. But it's not going the way of Google Glass: The plan is now to "launch a small number of balloons into particular regions that need internet access," Bloomberg reports, the better to "accelerate the project’s path toward becoming an actual commercial operation." (Photo: Marty Melville/AFP/Getty)

=> Like this? Share with #DailyRundown

A federal appeals court agreed to review a ruling which found the Consumer Financial Protection Board unconstitutional, at least delaying efforts by Congress and the Trump administration to unwind the agency. The consumer-finance watchdog "has been targeted by Republicans and businesses as a heavy-handed regulator," the Wall Street Journal observes.

President Trump name Alexander Acosta as his new labor secretary nominee, a day after Andrew Puzder withdrew. Acosta, a Florida law school dean and former assistant attorney general, would become the only Hispanic in the president's cabinet. Among other things Acosta was a member of the National Labor Relations Board, and prosecuted lobbyist Jack Abramoff for fraud.

Two former Obama White House figures talked about Uber's operations in Chicago, and one of them has now been fined $90,000. David Plouffe, who was working for the ride-hailing service at the time, is out nearly 100 Grand because he complained to Mayor Rahm Emanuel about airport pickups. Alas, Plouffe had failed to register as a lobbyist, running afoul of city ethics rules.

Cover Art: Lee Jae-Yong, vice chairman of Samsung, arrives at the office of the independent counsel on Jan. 12, 2017 in Seoul. (Photo by Chung Sung-Jun/Getty)