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Read the Story (PDF) For personal, non-commercial use only. Do not edit, alter or reproduce. For commercial reproduction or distribution, contact Dow Jones Reprints & Licensing at (800) 843-0008 or www.djreprints.com. How 1950s America Beat a Pandemic REVIEW WSJ spring style THE WALL STREET JOURNAL WEEKEND WSJ. MAGAZINE ******** SATURDAY/SUNDAY, MAY 1 - 2, 2021 ~ VOL. CCLXXVII NO. 101 WSJ.com HHHH $5.00 Israel Grieves After Deadly Stampede at Religious Festival What’s Apple Is News Hit With World-Wide Antitrust he European Union Charges Tcharged Apple with an- titrust violations over its control of music-streaming apps, broadening the bat- In EU tle over the tech giant’s App Store practices. A1 Case alleges company Manhattan federal pros- squeezed rival music ecutors are seeking to exam- ine Giuliani’s communications apps by forcing use of with an array of former Ukrai- its payments system nian officials, people famil- iar with the matter said. A5 BY SAM SCHECHNER The White House said that the U.S. will restrict The European Union travel from India beginning charged Apple Inc. with anti- Tuesday, as concerns mount trust violations over its control over a record surge in cor- of music-streaming apps, onavirus cases there. A7 broadening the battle over the tech giant’s App Store prac- Biden intends to steer a tices ahead of a federal trial in middle course between the the U.S. brought by the maker approaches of Trump and of online game “Fortnite.” Obama on North Korea’s ARIEL SCHALIT/ASSOCIATED PRESS The European Commission, nuclear and missile pro- SORROW: Mourners carry the body of Rabbi Eliezer Goldberg, who died during Lag b’Omer celebrations at Mount Meron, at the EU’s top antitrust enforcer, grams, U.S. officials said. A8 his funeral on Friday. Israel faces investigations and recriminations over the disaster, which left at least 45 people dead. A7 said in a document Friday that The U.S. criticized China’s the iPhone maker squeezed ri- protection of intellectual val music-streaming apps by property, saying that mea- requiring them to use Apple’s sures Beijing adopted— in-app payments system to sell some to comply with the digital content. The case stems 2020 U.S.-China trade deal— Amid Lower Returns, Investors from a complaint by Spotify don’t go far enough. A8 Technology SA, which com- petes with Apple’s music- 3M lost the first lawsuit streaming service. to go to trial over the safety In addition, EU regulators of earplugs it sold for years Press Buffett on Social Issues say Apple “distorted competi- to the military, with a fed- tion” by limiting how app de- eral jury awarding $7.1 mil- velopers can inform users lion to three veterans. A3 BY JUSTIN BAER Leading up to Berkshire’s to criticism amid a growing from 1965 to 2020, outper- about cheaper ways to sub- Died: Eli Broad, 87, bil- annual meeting on Saturday, wave of investor interest in forming the S&P 500’s 10.2% scribe outside the app. Apple’s lionaire businessman, phi- Professional money manag- proxy advisers Glass Lewis & corporate sustainability issues. gains including dividends dur- in-app payment system im- lanthropist and collector of ers are turning up the heat on Co. and Institutional Share- The shareholder movement ing the period. Berkshire’s to- poses a 30% commission on contemporary art. WSJ.com Warren Buffett’s Berkshire holder Services Inc. have rec- to press companies on climate tal returns over the past purchases inside many of the Hathaway Inc. ommended that investors change, social progress and three- and five-year periods most popular apps. Business&Finance California Public Employ- withhold their votes for board governance continues to gain were 12% and 14%, respec- “This case is about the cen- ees’ Retirement System and members. steam in the U.S., emerging as tively, compared with the in- tral role of app stores in the Neuberger Berman have de- While many of the com- a key selling point for money dex’s 19% and 18%. digital economy,” Margrethe Berkshire Hathaway’s manded that the Omaha, Neb., plaints aren’t new and none of managers in their efforts to “Berkshire has gotten a Vestager, who is in charge of lackluster returns in recent conglomerate bring in new di- the shareholder proposals are keep client money. PleaseturntopageA4 competition enforcement at years have made it more rectors and provide more dis- likely to pass, Berkshire’s lack- Under Mr. Buffett’s leader- the European Commission, said vulnerable to criticism amid closures on climate risks and luster returns in recent years ship, the firm boasts 20% com- BlackRock uses voting power Friday. “An app store can be- a growing wave of investor executive pay. have made it more vulnerable pounded annualized gains aggressively................................. B1 PleaseturntopageA6 interest in corporate sus- tainability issues. A1 For personal, Regulators in China have told some of the country’s Trapped on an Abandoned Ship: A Sailor’s Ordeal biggest financial technology firms that their apps should no longer provide financial services beyond payments. A1 Vessel was seized in 2017; years later, its chief mate was still aboard Companies in the U.S. are expected to spend 15% more BY JOE PARKINSON Egyptian government. They had refused to let on advertising this year than AND DREW HINSHAW him disembark but couldn’t keep him on the they did in 2020, embold- ship if it was sinking, he reasoned. ened by swelling consumer SUEZ, Egypt—Chief Mate Mohammad Ai- He activated an emergency beacon and confidence and the pace of sha awoke to the groans and tremors of a shouted “Mayday! Mayday!” into the radio. Covid-19 vaccinations. A1 cavernous cargo ship listing hard to star- Hours crawled by before a military patrol ar- board. He staggered through the darkness up rived to whisk him to land. Household income rose five flights of stairs to the bridge and shined Ten days of interrogations in military and at a record pace of 21.1% his phone’s flashlight on the navigation dials. police stations later, Mr. Mohammad was in March as federal stimu- The MV Aman was tilting 10 degrees, its right back where he started, returned to a de- lus checks helped fuel an non-commercial use only. 330-foot-long hull taking on more than 6 feet serted ship whose hull had been repaired. It economic revival. A2 of water. Three miles from the nearest ship, was Oct. 27, 2019, and he wasn’t going any- The global shortage of Mr. Aisha knew that if the 3,000-ton boat where. semiconductors that has went under, it would suck him, the only per- The young Syrian was 400 miles from hobbled auto makers son on board, into the Red Sea. home and trapped in a labyrinth of Egyptian world-wide is now squeez- This was a crisis. It was also Mr. Aisha’s bureaucracy and maritime law. He started to ing other industries. B1 best chance to escape. think: Will I ever get off this boat? For months, the 29-year-old Syrian had Mr. Aisha had boarded the MV Aman in Credit Suisse’s new chair- been the last sailor still living on a cargo ship, May 2017, but the ship was soon detained be- THE WALL STREET JOURNAL man, António Horta-Osório, abandoned two years earlier near the mouth cause of unsettled debts. One by one, crew After years aboard the MV Aman, Mohammad Aisha was allowed signaled a broad re-evalua- of the Suez Canal and being detained by the PleaseturntopageA11 to swim ashore, but he was required to return by sunset. tion of the bank’s risk taking and said strategic changes couldbeinstore.B12 Squishmallow U.S. stocks slipped Fri- EXCHANGE Chinese Tech Giants Told Advertising day, but the S&P 500, Nas- daq and Dow posted Fans Spark To Curb Financial Services monthly gains of 5.2%, 5.4% Spending and 2.7%, respectively. B13 A Gold Plush BY KEITH ZHAI financial services beyond pay- Rebounds iii ments, according to people fa- NOONAN Stuffed toys prompt SINGAPORE—In recent miliar with the discussions. Sharply Two Very Different years, China’s technology gi- During the nearly three- ants have turned consumers’ hour meeting at the People’s BY SUZANNE VRANICA But Plainspoken road trips, lines, embrace of mobile payment Bank of China’s Financial Mar- Speeches A15 apps into lucrative ecosystems ket Department, regulators Advertising is coming back ‘adrenaline rush’ offering a range of financial told company representatives strong. CONTENTS Sports........................ A12 services, from personal loans that the bundling of several fi- Companies in the U.S. are Books..................... C7-12 Style & Fashion D2-3 BY HALEY VELASCO to insurance policies. nancial services within a sin- expected to spend 15% more Business News...... B3 Travel........................ D1,4 Now, Beijing wants to put a gle platform obscured how on advertising this year than Food......................... D8-9 U.S. News............ A2-6 Tipped off by a Facebook stop to that. much money was flowing into they did in 2020, emboldened Heard on Street...B14 Tax Report............... B5 Obituaries............... A10 Weather................... A12 post, Jess Columbus, a 40- On Thursday, China’s cen- the various products, creating by swelling consumer confi- Opinion.............. A13-15 World News....... A7-9 year-old mom of two, jumped tral bank and four other regu- risks for the broader financial dence and the pace of Covid-19 in her car, drove 40 minutes latory agencies told some of system, these people said. vaccinations. and waited three hours in line. the country’s biggest financial Regulators’ push to delink The current rate of ad- > Not for concert tickets.
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