Bad Loans Hit the Oil Patch Were Classified on the List
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For personal non-commercial use only. Do not edit or alter. Reproductions not permitted. To reprint or license content, please contact our reprints and licensing department at +1 800-843-0008 or www.djreprints.com The Surprise One Home, Rock Reunion Many Buildings MANSION | M1 ARENA | D1 JASON HENRY FOR THE WALL STREET JOURNAL ****** FRIDAY, MARCH 25, 2016 ~ VOL. CCLXVII NO. 70 WSJ.com HHHH $3.00 DJIA 17515.73 À 13.14 0.1% NASDAQ 4773.50 À 0.1% STOXX 600 335.10 g 1.5% 10-YR. TREAS. g 8/32 , yield 1.902% OIL $39.46 g $0.33 GOLD $1,221.40 g $2.30 EURO $1.1174 YEN 112.90 What’s Pope Francis Washes Refugees’ Feet in Holy Week Rite Belgium News Steps Up Business&Finance Terrorism he number of energy Raids Tloans in danger of de- fault is on course to extend Belgian police rounded up above 50% this year at sev- six more people they said were eral major banks, as oil connected to this week’s terror prices pressure producers. A1 attacks, as the government on Thursday acknowledged high- U.S. natural-gas output level counterterrorism failings. hit its highest level ever over the winter even amid low prices, leaving the indus- By Julian E. Barnes try facing a supply glut. C1 and Matthias Verbergt Exxon is in advanced talks in Brussels and Damian to acquire a stake in a Paletta in Washington large Mozambique natu- ral-gas project from Eni. B3 The justice and interior min- The launch of Starboard isters both offered to resign a Value’s bid to remove Ya- day after Turkey disclosed it hoo’s board kicks off a had warned Belgium last sum- scramble for the support mer that it suspected Ibrahim of other shareholders. B1 el-Bakraoui, one of two suicide bombers at the Brussels Air- The Dallas Fed’s chief is port, had ties to Islamic State— part of a widening consensus L’OSSERVATORE ROMANO/PRESS POOL/ASSOCIATED PRESS to no avail. taking root inside the nation’s GESTURE OF BROTHERHOOD: Muslim, Christian and Hindu refugees had their feet washed by the pope at a shelter near Rome on Thursday. A12 Mr. Bakraoui and his youn- central bank on rates. C1 ger brother, Khalid, both from New orders for durable Brussels, were known to West- goods declined in February ern intelligence and were on at as weak growth weighed least one U.S. watch list, said a on business spending. A2 U.S. official. It couldn’t be im- mediately learned how they A judge gave VW another Bad Loans Hit the Oil Patch were classified on the list. month to come up with a fix While the U.S. often shares for its diesel cars that vio- Bad loans in the U.S. oil to extend above 50% this year cash, according to more than a Since the start of last year, names on its various watch late U.S. emissions rules. B3 patch are on pace to soon out- at several major banks, includ- dozen bankers, lawyers and 51 North American oil-and-gas lists, it isn’t known whether Square hopes to speed its number good ones, an indica- ing Wells Fargo & Co. and others familiar with the plans. producers have filed for bank- they did in this case. The Bel- path to profits by offering tion of the pressure on energy Comerica Inc., according to The pullback is curtailing ruptcy, cases totaling $17.4 bil- gian government has so many loans through a partner bankers and others in the in- the flow of money to compa- lion in cumulative debt, ac- people to surveil, it is difficult bank as an add-on service to By Bradley Olson, dustry. nies struggling to survive a cording to law firm Haynes for them to prioritize who its core payments business. C1 Emily Glazer In response, several major prolonged stretch of low and Boone LLP. That trails the might be the most urgent. banks are reducing their expo- prices, likely quickening the number from September 2008 Separately, the Belgian fed- The Dow edged up 13.14 and Matt Jarzemsky sure to the energy sector path to bankruptcy for some to December 2009 during the Please see TERROR page A6 points to 17515.73, but U.S. companies and their lenders by attempting to sell off sour- firms. About 175 companies global financial crisis, when stocks snapped five con- from the crash in prices. ing loans, declining to renew are at high risk of not being Please see LOANS page A2 Attacks expose slow progress secutive weeks of gains. C4 The number of energy loans them or clamping down on the able to meet financial stipula- on security.................................. A6 Playboy is exploring a labeled as “classified,” or in ability of oil and gas compa- tions in their loan agreements, Natural-gas industry faces Iraq presses fight against sale. The publisher could danger of default, is on course nies to tap credit lines for according to Deloitte LLP. glut, painful spring.................. C1 militants in North.................... A7 fetch over $500 million. B1 World-Wide Battle for Yahoo DESPITE FEDERAL HEALTH LAW, $125 a share Yahoo’s daily Belgian police rounded share price up six more people they said were connected to 100 ILLEGAL IMMIGRANTS GET CARE this week’s terror attacks, as the government acknowl- edged high-level counterter- 75 U.S. policy restricts coverage, but many counties choose to treat patients without legal status rorism failings. A1, A6, A7 Thursday The Justice Department $34.86 BY LOUISE RADNOFSKY 20 of them have programs that pay for American hospitals have long been re- unsealed charges against 50 the low-income uninsured to have doctor quired by law to screen and stabilize any seven alleged Iranian hackers, WHEATON, Md.—When federal law- visits, shots, prescription drugs, lab tests patient, regardless of his or her ability to saying they attacked the U.S. makers wrote the act overhauling the na- and surgeries at local providers. The ser- pay, which means taxpayers already are financial system and serv- 25 tion’s health-care system six years ago, vices usually are inexpensive or free to committed to paying for care in its most ers for a New York dam. A3 they ruled out any possibility of extend- participants, who must prove they live in expensive setting. The U.S. imposed new 0 ing health insurance to illegal immi- the county but are told their immigration County politicians figure it is cheaper, sanctions against Iranian grants. status doesn’t matter. safer and easier to give basic health ser- defense firms and the Rev- 1996 2000 2010 Local officials where many of those Whether such programs are appropri- vices to immigrants who can’t get insur- olutionary Guard over bal- Source: FactSet immigrants live are treating them any- ate is a matter of debate. Many voters ance than to treat them only in the listic-missile launches. A7 THE WALL STREET JOURNAL. way. believe it is unfair to use tax dollars to county’s emergency rooms. A U.N. court sentenced PROXY FIGHT: Starboard’s bid A Wall Street Journal survey of the 25 help immigrants when American citizens “If federal programs exclude people former Bosnian Serb leader to oust Yahoo directors set U.S. counties with the largest unauthor- struggle, and that doing so encourages il- who live here and get sick here, then Karadzic to prison for geno- off a scramble for the backing ized immigrant populations found that legal immigration. At the same time, Please see HEALTH page A8 cide and other crimes. A12 of shareholders of the troubled Internet pioneer. B1 The personal feud be- tween Republican presi- Schools Doing ‘Starlight Express’ Inside dential candidates Cruz and Trump intensified. A4 Are Often Skating on the Edge Iraq’s army launched iii an offensive to retake the ATwiston northern province of Nine- Few teens know how to roll these days, veh from Islamic State. A7 Watchlists: The U.S. and Russia making the 1980s musical tough to pull off praised the progress of the Syria cease-fire and promised Financial BY ADAM THOMPSON ined by a little boy. The lead to build on the success. A7 characters are competing Obama pledged support Criminals BURLINGTON, Vt.—Any stu- trains. Other actors form the for victims of Argentina’s BY JEAN EAGLESHAM dent drama department can train cars behind them as they military dictatorship by pull off another production of zoom around stage and down declassifying documents States have taken the idea “The Sound of Music” or ramps through the audience related to that era. A12 of the sex-offender registry “Guys and Dolls.” on wheels. and applied it to everything Only the truly The students of Died: Johan Cruyff,68, from kidnapping to animal brave dare mount Burlington’s Hunt Dutch soccer great. D8 abuse. Utah is expanding it “Starlight Express.” Middle School are …Garry Shandling,66, into new territory: financial The sets are elab- among the few tak- comedian and actor. crime. orate, the costumes ing “Starlight” local. An early version of the complicated. And They are mounting HARRY HOW/GETTY IMAGES CONTENTS In the Markets....... C4 White Collar Crime Offender then there’s the fact one of two coming Oregon defeated Duke 82-68 Thursday night in the third round of Arts & Ent...... D2,4-7 Opinion................. A9-11 Business News...... B2-4,6 Sports.......................... D8 Registry, which has been on- that Andrew Lloyd amateur U.S. pro- the NCAA men’s tournament. See WSJ.com for the latest coverage.