The Wall Street Journal - 22.02.2020 - 23.02.2020

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**** SATURDAY/SUNDAY, FEBRUARY 22 - 23, 2020 ~ VOL. CCLXXV NO. 43 WSJ.com HHHH$5.


THEWALLSTREETJOURNALWEEKEND


vestigation by 48 states, the
District of Columbia, Puerto
Rico and Guam, said the com-
pany’s actions suggest it is
withholding information that
could be damaging.
“Every indication right now
is they don’t believe that
they’re clean because they
don’t act in any way like they
are,” Mr. Paxton said.
A Google spokeswoman said
the company has cooperated
with the probe and that such
discussions over access to in-
formation are common during
investigations. She also raised
concerns that the Texas-led in-
vestigation has been advised
by outside business consul-
Please turn to page A

Google Resists State


Demands in Ad Probe


WASHINGTON—Google is
resisting efforts to surrender
emails, text messages and
other documents sought by
state investigators probing
possible anticompetitive prac-
tices, according to records and
interviews.
Google, a unit of Alphabet
Inc., also hasn’t agreed to a
waiver that would give the co-
alition of state attorneys gen-
eral access to documents ob-
tained by the Justice
Department for its own probe,
according to a person familiar
with the situation.
Texas Attorney General Ken
Paxton, who is leading the in-

BYJOHND.MCKINNON

a system architect for Badger
Technologies of Nicholasville,
Ky. “It just seems like it cheap-
ens the whole thing.”
Then he noticed children
waving and running up to
Marty, which resembles a 6-
foot-3-inch-tall upside-down
hammer with blue flashing
lights. He realized the humaniz-
ing touch addressed a need en-
gineers hadn’t fully anticipated:
helping skeptical shoppers feel
comfortable with an automaton.
The googly eyes helped give
Please turn to page A

Andy Callahan and his fellow
engineers spent years building
a robot that could roam gro-
cery-store aisles counting soup
cans and scanning for spills
while dodging shopping carts.
They named it Marty.
When a worker at a Giant
supermarket in Harrisburg,
Pa., stuck googly eyes on one
of the robots, the engineers
rolled their eyes. “We built
this sophisticated piece of
hardware,” says Mr. Callahan,

BYKATEKING

The Robot in Aisle Five Isn’t


Stalking You—No, Really
iii

Automatons are patrolling supermarkets


looking for spills, dodging spooked humans


10-year
1.470%

Three-month
1.554%

Treasury yields

Source: Tullett Prebon

2.

1.

1.

1.

1.

1.

1.

2.

%

Sept. Oct. Nov. Dec. Jan. Feb.

India Gears Up for Festivities to Mark Visit by Trump


AMIT DAVE/REUTERS
PREPARATIONS MOUNT: Indian troops take part in a rehearsal ahead of President Trump’s first visit to India next week,
which will aim to highlight his ties with Prime Minister Narendra Modi rather than tensions over economic issues. A

LIFE IN EXILE
Carlos Ghosn plots
his counterattack
from Lebanon.B

How to Change


Anyone’s Mind


REVIEW


WSJ


The Shame of


Hair Loss


Is Receding


OFF DUTY


Last month, 109 people gath-
ered in a Singapore hotel for
an international sales confer-
ence held by a U.K.-based com-
pany that makes products to
analyze gas.
When the attendees flew home, some un-
wittingly took the coronavirus with them.
The virus had a 10-day head start on
health authorities who, after belatedly learn-
ing a 41-year-old Malaysian participant was
infected, began a desperate effort to track the
infection through countries including South
Korea, England and France. Health investiga-
tors have found at least 20 people in six
Asian and European countries who were sick-
ened, some who attended the conference and
others who came in contact with participants.

A globalized economy, one
that’s far more integrated than
in the early 2000s when the
SARS virus broke out, is compli-
cating the task of responding to
epidemics.
After this one conference alone, 94 partic-
ipants left Singapore, authorities determined.
Some joined Lunar New Year dinners. Others
went on vacation, one to an Alpine ski town.
They had eaten, taken car rides and shared a
roof with others who then boarded more
planes to places the virus hadn’t yet reached.
Health officials used international commu-
nications channels to share names of the po-
Please turn to page A

ByNiharika Mandhana
andFeliz Solomonin
Singapore andEun-
Young Jeongin Seoul

EXCHANGE


 More coverage on pages A6, A7 and B

Money Woes Vex Democrats


Cash is tight for some
presidential candidates
heading into the
Nevada caucuses

Wells Fargo & Co. will pay
$3 billion to settle investiga-
tions by the Justice Depart-
ment and the Securities and
Exchange Commission into its
long-running fake accounts
scandal, closing the door on a
major portion of the legal
problems that for years have
beset one of the country’s
largest banks.
The deal resolves civil and
criminal investigations. It in-
cludes a so-called deferred
prosecution agreement, in
which the Justice Department
reserves the right to pursue
criminal charges. The bank has
to satisfy the government’s re-
quirements, including its con-
tinued cooperation with fur-
ther investigations, over the
next three years.
Friday’s settlement is a vic-
tory for Charles Scharf, an
outsider who took over as
chief executive in October and
was tasked with fixing the cri-
sis that has claimed two CEOs.
“The conduct at the core of
today’s settlements—and the
past culture that gave rise to
it—are reprehensible and
wholly inconsistent with the
values on which Wells Fargo
was built,” Mr. Scharf said in a
statement. “We are commit-
ting all necessary resources to
ensure that nothing like this
Please turn to page A

BYBENEISEN

Wells


Fargo


Settles


U.S.


Probes


Bank will pay $3 billion
to resolve government
investigations into its
fake-account scandal

Wary Investors Seek Safety
The yield on the 10-year Treasury note traded below the
three-month yield this week amid worries over global growth.B

A Singapore Conference


Spreads Coronavirus Globally


Virus hunters scurry to Malaysia, South Korea, the Alps, a British pub


Four of the top six Demo-
cratic presidential campaigns
are at a major disadvantage on
the airwaves heading into next
month’s Super Tuesday con-
tests, a sign the race could be
shaken up as it moves beyond
Saturday’s Nevada caucuses.
Billionaire Michael
Bloomberg is already spending

about $160 million on TV and
radio ads across the 14 states
that weigh in on March 3,
while Sen. Bernie Sanders also
has a major paid-media pres-
ence in those states, with $
million in ads.
But neither Joe Biden nor
Pete Buttigieg had invested in
a single Super Tuesday com-
mercial as of Friday night, ac-
cording to ad tracker Kantar/
CMAG, while Sens. Amy
Klobuchar and Elizabeth War-
ren combined have put less
than $2 million into Super
Tuesday ads.
Federal Election Commis-
sion reports filed late this
week, which cover finance ac-

tivity in the month of January,
help explain the absence of
paid media for much of the
2020 Democratic field: As Feb-
ruary began, Mr. Biden, Mr.
Buttigieg, Ms. Klobuchar and
Ms. Warren each had less than
half as much in the bank as Mr.
Sanders did, having spent
heavily ahead of the Feb. 3
Iowa caucuses and Feb. 11 New
Hampshire primary.
None had a war chest close
to the $460 million Mr.
Bloomberg, a former New York
City mayor, had put into his
campaign by the end of last
month.
After a rough-and-tumble
Las Vegas debate Wednesday

night that saw the five other
top candidates largely take aim
at Mr. Bloomberg, Nevadans
gathered to caucus on Satur-
day at a crucial time in the
largely unsettled race.
Mr. Sanders, of Vermont,
has a double-digit lead in na-
tional polling, with no one yet
to emerge as a decisive front-
runner among the more cen-
trist candidates. Mr.
Bloomberg isn’t on the ballot
in Nevada, having opted to
Please turn to page A

BYJULIEBYKOWICZ
ANDCHADDAY

 Sanders is warned of Russian
bid to aid his campaign....... A
 Bloomberg to release women
from NDAs.................................. A

Wells Fargo will pay
$3 billion to settle investi-
gations by the Justice De-
partment and SEC into the
bank’s long-running fake
accounts scandal.A


Google is resistingde-
mands to surrender emails,
text messages and other doc-
uments sought by state in-
vestigators probing possible
anticompetitive practices.A


Stocks fellas investors
flocked to traditionally safer
assets. The S&P 500, Dow
and Nasdaq lost 1.1%, 0.8%
and 1.8%, respectively.B


Boeing has foundde-
bris inside the fuel tanks
of about two-thirds of un-
delivered 737 MAX air-
craft inspected so far.B


Securities regulatorsare
investigating whether Al-
tria adequately disclosed to
shareholders the risks when it
took a 35% stake in Juul.B


EBay is taking stepsto-
ward a potential sale of its
classified-ads business,
which could be worth
roughly $10 billion.B


Fox has expressedinter-
est in acquiring Tubi, while
Comcast’s NBCUniversal is
in advanced talks to acquire
Vudu from Walmart.B


The SEC rejecteda plan
from Cboe to introduce a
“speed bump,” or split-
second trading delay, to
one of its exchanges.B


What’s


News


CONTENTS
Books..................... C7-
Food...................... D9-
Gear & Gadgets D13-
Heard on Street...B
Obituaries................. A
Opinion............... A11-


Sports....................... A
Style & Fashion D2-
Travel....................... D4,
U.S. News............ A2-
Weather................... A
Wknd Investor....... B
World News....... A6-

s2020 Dow Jones & Company, Inc.
All Rights Reserved

>

T


he globalized economy,
one that is far more in-
tegrated than in the early
2000s when the SARS virus
broke out, is complicating
the task of responding to
the coronavirus.A1, A6, A


The U.S. andthe Afghan
Taliban are preparing to
sign a historic peace deal
next week if the two sides
succeed in reducing vio-
lence in Afghanistan over
the next seven days.A


U.S. officials havein-
formed Sanders that Russia
is actively trying to support
his campaign as part of Mos-
cow’s broader effort to inter-
fere in the 2020 election.A
Bloomberg saidhe would
release from nondisclosure
agreements three women
who made allegations
against him in lawsuits over
the past three decades.A
Biden has losta sub-
stantial part of his black-
voter support and is now
running about even with
Sanders, a new WSJ/NBC
News poll found.A


Trump saidthat he is
considering four candi-
dates to be his permanent
director of national intelli-
gence, after removing act-
ing chief Maguire.A


The Weinstein jurywill
resume deliberations Mon-
day after suggesting that
it had deadlocked on two
charges against him.A


World-Wide


Business&Finance


NOONAN
The Best Democratic
Debate in YearsA

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