Unusual Talks, Politics Put Oracle Ahead in Tiktok Race

P2JW259000-6-A00100-17FFFF5178F ****** TUESDAY,SEPTEMBER 15,2020~VOL. CCLXXVI NO.64 WSJ.com HHHH $4.00 DJIA 27993.33 À 327.69 1.2% NASDAQ 11056.65 À 1.9% STOXX 600 368.51 À 0.1% 10-YR. TREAS. unch. , yield 0.669% OIL $37.26 g $0.07 GOLD $1,953.10 À $15.30 EURO $1.1863 YEN 105.73 In Tokyo, Ruling Party Clears Way for Successor to Abe Citi Faces What’s News Rebuke ForIts Business&Finance Handling ederal regulators are F preparing to reprimand Citigroup for failing Of Risk to improve its risk-management systems designed to detect problematic Expected regulatory transactions, risky trades and other threats. A1 demand for changes Amazon plans to hire accelerated the bank’s 100,000 additional em- CEO succession plan ployees in the U.S. and Canada, continuing a rapid BY DAVID BENOIT expansion during the coro- AND BEN EISEN navirus pandemic. A1 Verizon has agreed to buy Federal regulatorsare pre- TracFone,aprovider of wire- GES paring to reprimand Citigroup lessprepaid services,ina IMA Inc.for failing to improveits deal worth up to $7 billion. B1 risk-managementsystems—an GETTY expansiveset of technology Delta is the latest car- SE/ and procedures designed to de- rier to raise cash by bor- tect problematic transactions, rowing against its fre- riskytrades and anything else quent-flier program to ANCE-PRES FR that could harm the bank. weather the pandemic. B1 Theexpected rebukefrom Hedge-fund manager ENCE the Office of the Comptroller AG Cohen has agreed to buy S/ of theCurrencyand the Fed- the NewYork Metsinadeal PRES eral Reserveaccelerated plan- valued at between $2.4bil- JIJI ning forChief ExecutiveMi- lion and $2.5billion. B2 HANDOVER: Japan’s ruling Liberal Democratic Party elects Yoshihide Suga as its new leader on Monday, assuring him of chael Corbat’s retirement, succeeding Shinzo Abe as prime minister. Mr. Abe is stepping down this week because of health reasons. A9 according to people familiar Ex-Nissan executiveKelly with thematter. Regulators pleaded not guilty to didn’t ask Mr.Corbat to step chargesthat he helped hide down, the people said. Rather, Ghosn’scompensation. B3 he came to believethat an ex- Fiat Chrysler and PSA pensive, multiyear systems changed the terms of their Unusual Talks, Politics Put overhaul designed to address mergertopreservecash to regulators’ concerns wasbest shoreuptheir financial posi- leftinthe hands of his succes- tions amid the pandemic. B3 sor, Jane Fraser, they said. Citigroup said on Thursday Berkshire’s BNSF Rail- Oracle Ahead in TikTok Race Mr.Corbat would retireiN way unit named Kathryn February, surprising analysts Farmer as CEO. B3 and investorswho expected Apple is expected to re- Oracle Corp.isone of the Theemergenceofthis odd- concerns about aChinese- Oracle isn’tbelieved to be him to remain in the job for a veal itslatestwatch andaN most lucrative but unflashy ball alliance is the latest twist owned app possessing the getting amajority stakeiN few more years. updated iPad on Tuesday. B4 companies in Silicon Valley, a in six weeks of negotiations data on American users. TikTok,according to people Therebuke, which would provider of business software that bear little resemblanceto Details were scant, and familiar with thematter, de- come in the form of aconsent Arebound in tech shares and consulting services. Now, regular deal talks,driven by manypeople close to the deal spiteMr. Trump’sdemand that order,likely would require helped major indexesre- U.S.-China tensions, commer- cautioned that much still it getsold. Instead, Byte- Citigroup to develop and exe- coverafter last week’spull- cial rivalries and President needed to be decided and that Dance’s plan involves a series cute a plan to fix its risk sys- back.The Nasdaq,S&P 500 By Georgia Wells, Trump’spersonal interven- it could still unravel. of moves to addressthe na- tems,the people said. Such and Dowgained 1.9%, 1.3% Aaron Tilley and John D. McKinnon tions. Thetalks took multiple un- tional-security issues without formal regulatoryactions and 1.2%, respectively. B9 TikTok parent ByteDance expected turns,and at various having to either sell the U.S. sometimes come with fines or it is poised to become the U.S. Ltd. confirmed on Mondayit times drew in some of the big- PleaseturntopageA8 stricter oversight, but it isn’t World-Wide partner forTikTok,the smash had submittedaproposal to gest names in global business, clear what, if any, punishment Chinese social-media app that the U.S. government that the including Walmart Inc., Twit- Deal needs national-security would be imposed, they said. has become astaple on the Beijingcompanysays would terInc.and Alphabet Inc.’s check............................................... A8 “Weare completely com- Eighty-seveN large wild- smartphones of millions of solvethe Trump administra- Google, and featuredhigh- Heard on the Street: No mitted to improving our risk fireshaveburned morethan American teenagers. tion’s longstanding security level political maneuvering. TikTok spoils for Oracle.... B10 PleaseturntopageA4 4.6million acres in 10 states, according to the National In- teragencyFireCenter,leaving Gulf at least 35 people dead. A1 Amazon Ramps Up Trump put the blame on Coast forest management rather than climatechangefor the Braces unprecedented wildfires, Hiring Plans, Adds while Biden focused on For Sally global warming. A2 Rodney and Peggy Theadministration is 100,000 New Jobs Thomas fill withdrawing aplan to tighten sandbags Monday Medicaid oversight aftercon- cerns of funding cutsto in Bay St. Louis, BY BEN OTTO Not including temporary Miss., as Hurricane states amid apandemic. A2 AND SEBASTIAN HERRERA employees the companyde- Sally approaches. Hurricane Sally took aim scribesasseasonal, itstotal From New Orleans at the central Gulf Coast as Amazon.com Inc.plans to world-wide workforce will be to the Alabama- thousands of people prepared hire100,000 additional em- roughly one million afterac- Florida state line, forheavy rain and potentially ployees in the U.S. and Canada, counting forthe 100,000 new thousands of deadly flooding. A3 continuing arapid expansion warehouse positions and residents prepared that beganasthe coronavirus 33,000 positions Amazon is CHMAN/REUTERS for heavy rain and Prosecutors in Lancas- BA ter, Pa., areinvestigating a pandemic forced manypeople hiring forinits corporatedivi- potentially deadly fatal shooting by policeand to stay home and shop online sions.Oncethose positions are THAN flooding from the forwork and other necessities. filled, it will have morethan storm. A3 pursuing chargesagainst JONA Amazon’sseemingly relent- 700,000 employees in the U.S. people who later set fires lesshiring this year has come TheSeattle-based company, and damaged property. A3 even as the wider economic which is the nation’ssecond- The Trump administra- picture has darkened, with largest employerbehind Wal- tion caN wind down hu- companies acrossarangeof mart Inc.,said it would take a Pink Hair manitarian protections for industries slashing workers few months for all the new hundreds of thousands of and filing forbankruptcy.Ro- hires to be reflected in itsfi- immigrants, a federal ap- bust online spending during nancialstatements. Gives Many peals court ruled. A3 the crisis has fueled Amazon’s Newjobs will be added at Putin pledged support growth and created aneed for dozens of Amazon locations The Blues moreworkers. PleaseturntopageA6 for Belarus’s president, signaling Moscow’s inten- iii tion to bolster its embat- Dye jobs from tled junior partner. A10 Candidatesloyal to Pu- AshRaining From Sky tin swept regional and local lockdown don’t elections despitepocketsof support forNavalny’soppo- Fuels MiseryinWest wash out easily sition movement. A10 BY CANDACE TAYLOR Religious leaders and BY JIM CARLTON one of itsmost dangerous and businessownersinIsrael overwhelming fire seasons on Bored and depressed during arerushing to preparefor a GRIDLEY,Calif.—In this record,asfirefightershavebeen lockdown, Madison Namohala second nationwide Covid-19 small Northern California town rushing to bring some of the tried to cheer herself up by lockdown that is set to up- near wherethe deadliest wild- largest blazes in historyunder dying her blond hair bright end the Jewish holidays. A10 fire of 2020 is still burning,ash control until fire-friendly pink.When she finished apply- One cloud fell from the skyMondayand weather returns.ARed Flag ing the dye, she started sob- CONTENTS Opinion.............. A17-19 thesmokewas so thick that it Warning,which indicates ex- bing. Arts in Review... A15 Personal Journal A13-14 wasdifficult to see morethan treme fire conditions with gusty Instead of pink,her hair Business News...... B3 Sports........................ A16 fits all. Capital Journal...... A4 Technology............... B4 half amile. winds and lowrelativehumidity, was“literally the color of an Crossword.............. A15 U.S. News............. A2-8 Fourteen people arere- wasineffect Mondayinpartsof orangeCrayola crayon,” says Heard on Street.B10 Weather................... A15 ported dead in the North Com- Northern California and Oregon. the 24-year-old Idaho resi- Markets...................... B9 World News...... A9-11 Choose the capabilities your business plexfire, one of 87 large blazes Thecrisis drew avisit Mon- dent.She tried applying a that have burned morethan dayfromPresident Trump,who rose-gold conditioner,but that needs,when it needs them with the > 4.6million acres in 10 states, toured aformer Air Forcebase turned the tips of her hair Dell Technologies Cloud. according

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