Kavanaugh Hearing Has Testy Start Democrats Seek to News Halt Session Until They See Nominee’S Papers Business&Finance from White House Days
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****** WEDNESDAY, SEPTEMBER 5, 2018 ~ VOL. CCLXXII NO. 55 WSJ.com HHHH $4.00 DJIA 25952.48 g 12.34 0.05% NASDAQ 8091.25 g 0.2% STOXX 600 379.83 g 0.7% 10-YR. TREAS. g 14/32 , yield 2.902% OIL $69.87 À $0.07 GOLD $1,192.70 g $7.60 EURO $1.1583 YEN 111.45 What’s Kavanaugh Hearing Has Testy Start Democrats seek to News halt session until they see nominee’s papers Business&Finance from White House days mazon became the BY JESS BRAVIN AND BYRON TAU Asecond U.S. company to reach $1 trillion in mar- WASHINGTON—Supreme ket value as its shares rose Court nominee Brett Ka- in intraday trading, re- vanaugh’s weeklong confirma- flecting the online retailer’s tion hearings began raucously transformation into a disrup- Tuesday, as Democrats sought tive force of commerce. B1 to bring the proceedings to a halt and protesters shouting Nike’s shares fell after from the rear were removed by the firm ventured into police, leading to 70 arrests. charged political territory Republicans, holding a one- by putting NFL quarter- vote majority on the Senate Ju- back-turned activist Kaep- diciary Committee, brushed ernick at the center of its aside complaints about access latest ad campaign. A1 to Judge Kavanaugh’s records as Theranos will formally an aide to former President dissolve, according to an George W. Bush and insinua- email to shareholders, and tions that his appointment will pay unsecured credi- could abet President Trump’s tors its remaining cash in grip on power. coming months. B1 Judge Kavanaugh, who spoke at day’s end, made no reference U.S. stocks fell ahead of to the seven hours of partisan a busy week of trade talks and debate. He touted his judicial economic data. The Dow shed impartiality at a session in 12.34 points to 25952.48. The which Democrats painted him S&P 500 declined 0.17%. B13 as a servant of social conserva- Carney signaled he was PleaseturntopageA4 willing to stay on as BOE chief beyond his planned 2019 TASOS KATOPODIS/EPA/SHUTTERSTOCK Nominee sought minority departure date, offering some Brett Kavanaugh sat throughhours of contentious debate by the Senate Judiciary Committee before he spoke about his nomination Tuesday. judges.............................................. A4 stability ahead of Brexit. A8 Most major auto mak- ers reported increases in U.S. sales in August, though Anthem Backlash Strikes Sheryl Sandberg vehicle demand was expected to cool for the rest of 2018. B2 Banking group ING has agreed to pay a record Eu- Nike, Hurting Share Price On the Hot Seat ropean fine of $899.8 million to settle a probe into money- BY ANDREW BEATON tests in 2016 when he began with criticism coming from laundering failings. B12 AND KHADEEJA SAFDAR kneeling on the field during President Trump and fans who For FacebookRisks the national anthem to call at- have labeled them unpatriotic. Citigroup Chief Finan- Nike Inc. ventured into tention to racial injustice and Now Nike faces questions on cial Officer Gerspach will re- charged political territory when social inequality. The player two fronts: whether its reinvig- tire next year, ending a nearly Executive must fix mistakes on data it put National Football League protests Mr. Kaepernick orated partnership with one of 10-year run in the job. B12 quarterback-turned activist Co- helped kick-start have been a the most controversial figures privacy and election interference Transocean has agreed lin Kaepernick at the center of contentious issue for the NFL, in sports will prove fruitful; to buy fellow offshore- its latest advertising campaign, and how this move will affect drilling contractor Ocean risking backlash to align itself its relationship with the NFL. Facebook Inc. Chief Oper- some of Facebook’s chal- Rig UDW in a transaction val- with a cause that has resonated ThrownforaLoss While Nike is one of the NFL’s ating Officer Sheryl Sandberg lenges of late, units under ued at about $2.7 billion. B5 with young consumers. Nike shares slipped Tuesday biggest partners with a re- was the architect of a busi- Ms. Sandberg’s control failed The Oregon-based shoe gi- after the company unveiled an ad ported billion-dollar deal that ness strategy that built the to respond to mounting signs World-Wide ant saw opposition to its deci- campaign featuring unsigned NFL was extended in the spring, the social network from a fast- of trouble, including evidence sion in the aftermath of the quarterback Colin Kaepernick. league is engaged in a high- growing but wobbly startup that Russia interfered in the announcement when many profile legal battle with Mr. into a global advertising jug- 2016 presidential election % The Justice Department shoppers began calling for 0 Kaepernick, who has filed a gernaut with a market value and the growing use of fake has launched a criminal boycotts of its products. Im- –0.5 grievance alleging that he has of more than half a trillion news to stir violence and probe into the FBI’s handling ages of people torching Nike Dow Jones been effectively blackballed dollars. harm overseas, according to of sexual-abuse allegations shoes and cutting swooshes –1.0 Industrial from signing with a team be- a number of current and for- against former U.S. gymnas- out of gear surfaced on Twit- Average cause of his political views. By Betsy Morris, mer employees. tics team doctor Nassar. A1 ter and other social-media –1.5 “Although the company’s Deepa Seetharaman Now Ms. Sandberg must sites, countered by expres- stand may go down well on its Robert McMillan fix the mistakes. Urged by his A hearing on Ka- –2.0 and sions of support for Nike and native West Coast, it will be board to be more proactive, vanaugh’s nomination to Mr. Kaepernick. Shares of the far less welcome in many But during five nightmar- Mr. Zuckerberg quietly asked the Supreme Court opened –2.5 company fell more than 3% other locations,” Neil Saun- ish days in March, she and her to lead the company’s ef- with Democrats seeking to Tuesday, though they are still –3.0 ders, managing director of her communications team forts to identify and prevent bring proceedings to a halt up about 27% for the year. GlobalData Retail, wrote in a couldn’t figure out how to future blowups on the plat- and police removing several –3.5 Nike The reaction laid bare the research note, adding that the address the public’s mount- form. The new job, insiders protesters from the room. A1 perils of Nike’s decision to fea- 10 a.m. noon 2 p.m. 4 brand “cannot afford to make ing outrage over allegations say, is at least as challenging The U.S. and Canada ture Mr. Kaepernick, who Source: SIX bad decisions” in a highly that political firm Cambridge as the company’s transition will resume efforts on emerged as the face of pro- THE WALL STREET JOURNAL. PleaseturntopageA8 Analytica had improperly ac- to mobile several years ago, Wednesday to resolve is- cessed data on tens of mil- which was late and rocky. sues holding up a renego- lions of Facebook users. Ms. Sandberg’s role is likely tiation of Nafta. A2 While anger grew, she and PleaseturntopageA10 Chief Executive Mark Zucker- American factory ac- U.S. Investigates FBI Response berg remained silent. tivity in August expanded Ms. Sandberg has told at the strongest pace in people the delayed response Theranos more than 14 years. A2 To Gymnasts’ Sex-Abuse Claims was one of the company’s Federal disaster re- biggest mistakes ever. But To Shut Down sponders were over- BY REBECCA DAVIS O’BRIEN review opened earlier this sentence in federal prison. He not the only one. While the Blood-testing firm accused whelmed in 2017 by hurri- year into the bureau’s han- hasn’t faced charges on the technology platform designed of defrauding investors will canes in close succession The Justice Department is dling of the Nassar allega- gymnasts’ allegations. and overseen by Mr. Zucker- formally dissolve.................. B1 and wildfires in California, a investigating how the FBI tions. The gymnasts’ com- The Justice Department in- berg is also to blame for government report said. A3 handled sexual-abuse allega- plaints languished for at least vestigation, which hasn’t been tions against former U.S. nine months before an FBI of- previously reported, comes as Chicago Mayor Rahm gymnastics national team fice opened a formal investi- USA Gymnastics continues to Emanuel, a Democrat, said he doctor Larry Nassar, amid gation. reel from the Nassar scandal wouldn’t seek a third term. A3 claims agents failed to re- Nassar pleaded guilty last and from what critics have Salesforce. Arizona Gov. Ducey spond to complaints from year to federal child-pornog- called its sluggish response to chose former Sen. Jon Kyl gymnasts in 2015, people fa- raphy charges and state sex- sexual-abuse allegations. The to fill the Senate seat miliar with the matter said. ual-abuse charges in Michi- embattled organization said opened by McCain’s death. A4 The move by the depart- gan, none of which stemmed on Tuesday its chief execu- #1 CRM. ment’s Inspector General’s of- from national-team gymnasts’ tive, Kerry Perry, resigned af- Russian warplanes fice follows an internal Fed- 2015 allegations. In January, ter just nine months on the struck Syria’s Idlib prov- eral Bureau of Investigation he was sentenced to a 60-year PleaseturntopageA2 Ranked #1 for CRM Applications based on ince ahead of an expected IDC 2017 Market Share Revenue Worldwide.