****** WEDNESDAY, JUNE 6, 2018 ~ VOL. CCLXXI NO. 131 WSJ.com HHHH $4.00 DJIA 24799.98 g 13.71 0.1% NASDAQ 7637.86 À 0.4% STOXX 600 386.89 g 0.3% 10-YR. TREAS. À 6/32 , yield 2.917% OIL $65.52 À $0.77 GOLD $1,297.50 À $4.40 EURO $1.1720 YEN 109.79 What’s It’s a Jungle Out There for California’s Gubernatorial Candidates Beijing News Proposes Business&Finance ADeal On Trade Job openings in the U.S. exceeded the number of China says it will buy job seekers this spring for the first time since such record- $70 billion in U.S. keeping began in 2000. A1 goods if Trump drops Facebook struck data threat of tariffs partnerships with Chinese companies, including Huawei, China offered to purchase a firm U.S. officials view as a nearly $70 billion of U.S. farm, potential tool for spying. A10 manufacturing and energy U.K. regulators approved products if the Trump admin- Comcast’s bid for Sky and istration abandons threatened gave a tentative green light tariffs, according to people to a rival offer from Fox. B1 briefed on the latest negotia- tions with American trade of- OPEC and its allies will ficials. consider China’s store of oil in deciding whether to continue By Lingling Wei in supply cuts, officials say. B1 Beijing and Bob Davis The Nasdaq rose 0.4% to in Washington 7637.86, a second consecu- CLOCKWISE FROM TOP LEFT: K.C. ALFRED/THE SAN DIEGO UNION-TRIBUNE/AP; JUSTIN SULLIVAN/GETTY; RICHARD VOGEL/AP tive record. The Dow slipped ON THE BALLOT: Three of California’s more than two dozen gubernatorial candidates—clockwise, from top left, Republican businessman In weekend talks in Beijing, 13.71 points to 24799.98. B13 John Cox, Democrat Lt. Gov. Gavin Newsom and Democrat Antonio Villaraigosa, a former Los Angeles mayor—voted Tuesday. In the state’s Chinese negotiators led by Liu ‘jungle primary,’ the top two vote getters, regardless of party, will advance to a November runoff. Go to WSJ.com for election results. He, President Xi Jin- Connecticut is issuing ping’s economic envoy, pre- new debt that requires the sented a U.S. team headed by state to limit spending and Commerce Secretary Wilbur cap future borrowing. B1 Ross a package that includes SoftBank is selling a 51% U.S. Has More Jobs Than Jobless Chinese companies buying stake in the Chinese opera- more U.S. soybeans, corn, nat- tions of U.K. chip designer ural gas, crude oil, coal and Arm to a China-led group. B5 BY ERIC MORATH in the labor force. That reflects manufactured goods. everything from baby boomers Chinese and U.S. officials Australian regulators Gap Closes The U.S. had more job open- retiring in greater numbers to estimated the value of the charged ANZ, Citigroup and Level of unemployment and job openings in the U.S. ings this spring than unem- students staying in college lon- package at nearly $70 billion Deutsche Bank with cartel con- 15 million ployed Americans, laying the ger to opioid abuse preventing in the first year. duct in a 2015 fundraising. B12 ground for the higher wages people from taking jobs. President Donald Trump The SEC voted to allow needed to draw people from Unemployed The unemployment rate has pressed China to commit electronic posting as the de- the sidelines of a historically 10 ticked down further in May to a to reducing the $375 billion fault method for disseminat- tight labor market. seasonally adjusted 3.8%, the U.S. merchandise trade deficit ing mutual funds’ shareholder For the first time since such lowest since April 2000, the La- with China by $200 billion. reports, starting in 2021. B12 record-keeping began in 2000, bor Department said last week. Chinese officials are arguing 5 the number of available posi- The last time the rate was their offer could go a long way Banks and insurers paid tions exceeded the number of Openings lower was in 1969, when young toward meeting that target. out some of the largest set- job seekers, the Labor Depart- men were being drafted into Throughout the negotia- tlements in the past decade ment said Tuesday, a shift that 0 the Vietnam War. tions, Mr. Liu made clear to in lawsuits over wages, ac- is rippling across the economy 2001 ’05 ’10 ’15 While the labor market has Mr. Ross that the offer would cording to a new report. B3 and affecting the behavior of Note: Seasonally adjusted tightened there still is a be void if Washington proceeds The Wall Street Journal employers and workers. Source: Labor Department THE WALL STREET JOURNAL. greater share of workers than with its plan to impose tariffs named Matt Murray as its U.S. job openings rose to a 18 years ago saying they are on $50 billion of products new editor in chief. He suc- seasonally adjusted 6.7 million Openings had exceeded the the U.S. is facing a historically stuck in part-time jobs and made in China, the people ceeds Gerard Baker, who will at the end of April, a record available labor pool beginning tight labor market. The short- PleaseturntopageA5 PleaseturntopageA8 become editor at large. B2 high—and more than the 6.3 in March, according to revised age of workers is made more million Americans who were figures released Tuesday. intense by the fact that a Heard on the Street: A reason Mexico details tariffs on World-Wide unemployed during the month. The data are the latest sign smaller share of U.S. adults are jobs are tough to fill........... B14 range of U.S. goods............... A8 China offered to buy Designer Kate Spade Dies at 55 nearly $70 billion of U.S. Facebook’s Messy Split farm, manufacturing and energy products if the Trump administration aban- dons threatened tariffs. A1 With WhatsApp Founders Republicans are ratcheting up their opposition to new tariffs that Trump advanced based on national security. A8 They are walking away from $1.3 billion after pressure to increase revenue Mexico published a list of retaliatory tariffs that it is placing on U.S. goods. A8 BY KIRSTEN GRIND AND DEEPA SEETHARAMAN Acton had persistent disagreements in recent The administration put its years with Mr. Zuckerberg and Chief Operat- How ugly was the breakup between Face- search for the Justice Depart- ing Officer Sheryl Sandberg, who grew impa- book Inc. and the two founders of Whats- ment’s No. 3 official on hold af- tient for a greater return on the company’s App, its biggest acquisition? The creators of ter failing to persuade several 2014 blockbuster $22 billion purchase of the the popular messaging service are walking messaging app, according to the people. candidates to take the job. A1 away leaving about $1.3 billion on the table. Many of the disputes with Facebook in- Eight states held primaries, The expensive exit caps a long-simmering volved how to manage data privacy while a major step in setting the dispute about how to wring more revenue also making money from WhatsApp’s large stage for the battle over con- out of WhatsApp, according to people famil- user base, including through the targeted trol of Congress in the mid- iar with the matter. Facebook has remained ads that WhatsApp’s founders had long op- term elections. A5, WSJ.com WENDY MAEDA/THE BOSTON GLOBE/GETTY IMAGES committed to its ad-based business model posed. In the past couple of years especially, FASHION FAVORITE: Kate Spade—whose handbags were a rite of Social Security’s costs amid criticism, even as Facebook Chief Exec- Mr. Zuckerberg and Ms. Sandberg pushed passage for a generation of young, urban women—was found will exceed its income this utive Mark Zuckerberg has had to defend the PleaseturntopageA10 dead from an apparent suicide at her Manhattan apartment. A2 year for the first time since company before American and European Facebook struck data deals in China................ A10 1982, forcing the program lawmakers. The WhatsApp duo of Jan Koum and Brian Apple fires shots across Facebook’s bow......... B4 to dip into its trust fund. A3 The EU’s top court ruled that same-sex partners have the right to live in any Clash Over Search Is Put on Hold country in the bloc. A9 Album Notes Salesforce. David Koch is retiring For No. 3 Justice Aide from his family-owned firm and all political organizations Comes Calling #1 CRM. due to deteriorating health. A4 iii BY SADIE GURMAN On Tuesday, Mr. Trump McConnell canceled AND ARUNA VISWANATHA took aim again at his attorney much of the Senate’s August Inside one fan’s general, saying on Twitter that Ranked #1 for CRM Applications based on recess to work on spending The Trump administration someone in the post other IDC 2017 Market Share Revenue Worldwide. bills and confirmations. A4 lonely quest to has put its search for the Jus- than Jeff Sessions could have 19.6% Senators cautioned the alter rock history tice Department’s No. 3 official avoided “so much time and administration about the risk on the back burner after fail- money wasted, so many lives of moving too quickly to ease ing to persuade several candi- ruined” by the Russia probe, BY CAMERON MCWHIRTER dates to take the challenging which is being led by special pressure on North Korea. A8 position, according to people counsel Robert Mueller and USA Gymnastics officials When the British punk band familiar with the matter, in the overseen by Deputy Attorney knew of sex-abuse allegations the Clash’s acclaimed double- latest sign of the difficulties General Rod Rosenstein.