Morning intelligence

• Apple is reportedly in talks to acquire Tidal, the Jay Z-owned streaming service that has secured exclusive releases from major artists. 

• Chipotle CMO Mark Crumpacker was indicted as part of a cocaine bust in New York that charged 18 alleged buyers with a misdemeanor offense. Crumpacker has been “placed on administrative leave from Chipotle” while the investigation is carried out.

•  Tesla is being investigated by the U.S. National Highway Traffic Safety Administration due to a fatal car accident in 2015 that occurred when a Model S was in self-driving mode. 

• The valuation of Zenefits, the embattled HR software startup, has been slashed by more than 50%, reportedly dropping to $2 billion from $4.5 billionPM