1、* TUESDAY, MAY 7, 2019 VOL. CCLXXIII NO. 106 WSJ.com HHHH $4.00DJIA 26438.48 g 66.47 0.3% NASDAQ 8123.29 g 0.5% STOXX600 386.95 g 0.9% 10-YR.TREAS. 9/32, yield 2.498% OIL $62.25 $0.31 GOLD $1,281.70 $2.50 EURO $1.1200 YEN 110.76Trump, Tiger Woods Tee Up for Medal of FreedomACE: President Trump prese
2、nted Tiger Woods with the Presidential Medal of Freedom, calling thegolfers Masters victory last month one of the greatest comebacks in sporting history. A2Brad Is YourPeloton Pal,Like It or NotiiiHe photobombs thestationary bikesworkout videosBY AKANE OTANIDrop in on one of Pelotonscult spinning cl
3、asses on anygiven day and youre bound tosee sweat-glistening instruc-tors with abs that could cutglass. Oh, and a middle-agedman named Brad.The 42-year-old Brad Holc-man, who works at a New Yorktelevision network by day andspins under the username#BradNeedsAbs, has quicklybecome one of the most reco
4、g-nizable figures in the world ofstationary-bike maker Peloton.And it isnt because hes em-ployed by Peloton (hes not) orbecause hes a fitness model(hes not).PleaseturntopageA10Source: IDCWWQuarterlyCloud ITInfrastructureTracker,2018Q4 (based on vendorrevenue). DellTechnologies reported as Dell,Inc.i
5、n the WWQuarterlyCloud ITInfrastructureTracker.#1 and never done.From cloud-enabled infrastructure to asingle hub for managing all your clouds we can turn your vision into reality.LetsMakeItReal:DellT CLOUD INFRASTRUCTURECONTENTSBanking email: Need assistance with your subscription?By web: ; By emai
6、l: By phone: 1-800-JOURNAL (1-800-568-7625); Or by live chat at possi-bly one, at most, next,” he said.Mr. Harker, who isnt cur-rently a voting member of theinterest-rate setting FederalOpen Market Committee, wasmaking his first public com-ments since last weeks gather-ing. Then, officials kept sho
7、rt-term rates steady and signaledno rate changes are likely. TheFed also said that while inflationhas been falling short of its 2%target, it doesnt expect thatweakness to persist.Michael S. DerbyPRESIDENTIAL RACEBooker Proposes NewRules on Buying GunsDemocratic presidential candi-date Cory Booker is
8、 proposing anaggressive approach to curb theflow of guns in the U.S., includ-ing strict new federal require-ments for firearm ownership.The New Jersey senator onMonday called for prospectivegun owners to submit to theFederal Bureau of Investigationdocumentation showing theycompleted a gun-safety cou
9、rseto obtain a federal gun license,which would be required to pur-chase a firearm under his pro-posal. Like other Democrats, heis also calling for a federal back-ground check on virtually allsales; currently, the checks arentrequired in all instances.Mr. Booker also is calling tolimit handgun purcha
10、ses to nomore than one per person eachmonth, effectively eliminatingbulk sales.Currently, federal laws requirebackground checks only for salesby federally licensed dealers,though some states have addedtheir own requirements, and Mr.Booker would allow state licen-sure programs to continue. TheFBI cur
11、rently has three businessdays to determine whethersomeone should be denied per-mission to buy a gun. After thatperiod, the sales can be pro-cessed.Joshua JamersonCHICAGOMan Gets 16 YearsFor Car-Bomb PlotA federal judge sentenced anIllinois man to 16 years in prisonfor trying to kill hundreds ofpeopl
12、e by detonating what hethought was a car bomb outsidea crowded Chicago bar in 2012.The judge said she factored inhis mental health in imposing asentence much lower than pros-ecutors requested.The sentence for 25-year-oldAdel Daoud includes time forlater attempting to have an FBIagent killed and for
13、slashing aninmate with a shiv for tauntinghim with a drawing of theProphet Muhammad.Judge Sharon Johnson Cole-man criticized the FBI for ap-pearing to take advantage of Mr.Daouds extreme immaturity in2012, when he was 18. She alsosaid prosecutors were wrong tocontinually challenge clear indica-tions
14、 Mr. Daoud suffered frommental illness.Prosecutors wanted a 40-year term. The defense wantedhim released as soon as 2021.Mr. Daoud was arrested afterparking a Jeep outside the bar,walking to an alley a block awayand pushing a button he be-lieved would set off a 1,000-pound bomb inside the vehicle.He
15、 pushed the button a secondtime when it didnt go off.Agents supplied the fake de-vice, which was made to smelllike diesel fuel and had wiringconnected to bags of fertilizer toconvince Mr. Daoud it was real.He was told it would kill hun-dreds of people.Associated PressWHITE HOUSETiger Woods GetsMedal
16、 of FreedomPresident Trump presentedTiger Woods with the Presiden-tial Medal of Freedom, callingthe golfers Masters win in Aprilone of the greatest comebacksin sporting history.“Today its my privilege toaward our nations highest civilianhonor to one of the greatest ath-letes in the history of sports
17、,” Mr.Trump said at the White House.The president and Mr. Woodshave a long relationship and lastplayed golf together in February,along with Jack Nicklaus, atTrump National Golf Club in Ju-piter, Fla. Mr. Nicklaus was pre-sented the medal in 2005 byPresident George W. Bush.Alex LearyYet cookies also
18、boost com-petition in the advertisinglandscape by allowing hun-dreds of digital firmslargeand smallto collect theirown user data and sell higher-priced ads based on it. Any re-ContinuedfromPageOnestriction on them is a boon tothe biggest tech companies,including Google, which cantarget ads based on
19、the largeamount of other informationthey collect on users throughtheir many products.Google, like its rivals in thebrowser business, isnt plan-ning to end the use of cookiesthat websites use to maketheir own users experiencesmoother, such as those thatstore login information so us-ers dont have to e
20、nter it ev-ery time. Instead, it is mostlytargeting cookies installed byprofit-seeking third parties,separate from the owner ofthe website a user is activelyvisiting.If the new Google toolsprompt users to broadly rejecttracking cookies, some peoplein the industry think it couldmean the long-predicte
21、d de-mise of a tool that is bothwidely criticized and used.“It really strikes at theAchilles heel” of the technol-ogy, said Ratko Vidakovic, aToronto-based consultant inthe digital-ad industry.Google has been workingon the cookies plan for itsChrome browserwhich com-mands almost two-thirds ofthe des
22、ktop-browser marketsharefor at least six years,in stops and starts. Work ac-celerated in the past year, af-ter the personal data of tensof millions of Facebook userswere improperly shared withCambridge Analytica, a datafirm that worked on PresidentTrumps 2016 campaign.The delay by Google waspartly d
23、ue to the technologicalcomplexity of the project.Google had considered creat-ing a so-called browser identi-fierlinked to everything auser does, which advertiserscould seethat could be easilytoggled on or off by users.However, Google dropped theplan because it requiredchanging millions of lines ofco
24、de and potentially renegoti-ating thousands of outsideagreements, according to aperson familiar with the mat-ter.The importance of cookieshas been waning as usersmove their web activity tosmartphones, as they workonly within browsers and can-not be used within apps.Google in recent months in-vited a
25、dvertising executives toits offices in Mountain Viewand New York to sound themout on the shifton the condi-tion they sign nondisclosureagreements. People who at-tended the meetings said thecompany was tight-lipped onthe details of its cookies proj-ect, instead floating hypotheti-cal scenarios and as
26、king foropinions.The changes could be dam-aging to Google competitorswho use cookies or resell datacollected via cookies to com-panies hoping to better targetads.Shares in one such com-pany, Paris-based Criteo SA,which helps sites tag cookieson their visitors, are down27% since Adweek reported inlat
27、e March that Google wasconsidering new restrictions.Criteos chief executive dur-ing its recent quarterly earn-ings call flagged risks due tocoming restrictions on cookiesand said the company wasworking to become less relianton cookies.Google toLimit UseOf CookiesNEW AMERICANS: Immigrants took the Oa
28、th of Allegiance to become U.S. citizens at a Naturalization Ceremony in Boston on Monday.BRIANSNYDER/REUTERSWASHINGTONThe FederalReserve identified rising salesof risky corporate debt as a topvulnerability facing the U.S. fi-nancial system, according to areport released Monday.Officials for the sec
29、ondtime in six months cited po-tential risks tied to nonfinan-cial corporate borrowing, par-ticularly leveraged loansa$1.1 trillion market that theFed said grew by 20% last yearamid declining credit stan-dards. They also flagged possi-ble concerns in elevated assetprices and historically highdebt le
30、vels at U.S. businesses.“Borrowing by businesses ishistorically highwith themost rapid increases in debtconcentrated among the riski-est firms amid signs of deterio-rating credit standards,” theFed said in the second iterationof its financial stability report.Mondays report also identi-fied potentia
31、l economic shocksthat could test the stability ofthe U.S. financial system, in-cluding trade tensions, poten-tial spillover effects to the U.S.from a messy exit of Britainfrom the European Union andslowing growth globally.Specifically, the Fed warneda downturn could expose vul-nerabilities in U.S. c
32、orporatedebt markets, “including therapid growth of less-regulatedprivate credit and a weakeningof underwriting standards forleveraged loans.”Mondays report is the lat-est evolution in the Feds ef-forts to spotlight financial-sta-bility monitoring and followsyears of more intense in-houseresearch. I
33、t comes as financialmarkets have generally reactedwell to a string of positiveeconomic news showingstrength for the U.S. economyafter a rocky start to the year.A separate report releasedMonday showed some bankseased certain terms, such ascredit-line costs and loan cov-enants, on business loans tomed
34、ium and large companiesin the first quarter. At thesame time, banks tightenedstandards for commercial real-estate lending. Banks reportedweaker demand for both typesof loans in the first quarter,according to the Feds seniorloan officer opinion survey.Credit standards for certainclasses of business d
35、ebt ap-peared to have deterioratedduring the past six months,the Feds report said. For ex-ample, the share of newly is-sued large loans to corpora-tions with high leveragedefined as those with ratios ofdebt to their earnings beforeinterest, taxes, depreciationand amortization above sixhas risen abov
36、e the priorpeaks seen in 2007 and 2014.Paul Kiernancontributed to this article.BY ANDREW ACKERMANFed FlagsRise inRisky DebtAt FirmsCookies let companiessilently follow usersaround the internetto gather information.For personal, non-commercial use only. Do not edit, alter or reproduce. For commercial
37、 reproduction or distribution, contact Dow Jones Reprints LORENELLIOTTFORTHEWALLSTREETJOURNALSMART CAVIARTHE FIRST FINE JEWELRY BRACELETFORYOURAPPLEWATCHLAGOS.COMSmartCaviarisnotapproved,endorsedoraffiliatedwithApple,Inc.Watchsoldseparately.MY LAGOS MY WAYFor personal, non-commercial use only. Do no
38、t edit, alter or reproduce. For commercial reproduction or distribution, contact Dow Jones Reprints margins of error: +/-5.82and 5.99 pct. pts.100ers. It is also looking to sellunderperforming brands suchas its Ore-Ida french fries andMaxwell House coffee divi-sions, according to people fa-miliar wi
39、th the matter.Other 3G-backed consumercompanies are also strugglingwith sales as they try to com-pete on staple brands whilestill keeping costs down. An-heuser-Busch InBev SA hasfaced stagnating sales in theU.S., while the holding com-pany behind Burger King andTim Hortons, RestaurantBrands Internat
40、ional Inc., re-cently reported a decline insame-store sales growth.Kraft Heinz said Mondaythat its internal investigationwas nearly complete and it re-vealed misconduct by severalstaff members in its procure-ment division. “The findingsTrump, 41% are enthusiasticor comfortable and 59% havereservatio
41、ns or are very un-comfortablea gap of 18points.The Journal/NBC News sur-vey interviewed 900 adults,including 268 Democratic pri-mary voters, from April 28through May 1. The overallmargin of error was plus orminus 3.3 percentage pointsand 6.0 percentage pointsamong Democratic voters. TheMarch survey
42、interviewed1,000 adults with a margin oferror of plus or minus 3.1points, from March 23-27; themargin of error among the284 Democratic primary vot-ers in that poll was plus or mi-nus 5.8 percentage points.tions about the general elec-tion. Among all registered vot-ers surveyed, President Trumpproduc
43、es more ardent supportthan does Mr. Biden. Some25% of voters in the new sur-vey said they were enthusias-tic about Mr. Trump as a can-didate, compared with 17%who said so of Mr. Biden.But in the broader pictureof enthusiasm, comfort or un-ease, Mr. Biden is in a stron-ger position as of now than isM
44、r. Trump.Some 47% of all registeredvoters say they are enthusias-tic or comfortable with Mr. Bi-den, with 49% saying theyhave reservations about himor are very uncomfortablewith him. Meanwhile, for Mr.NBC News surveys say theyhave reservations about or arevery uncomfortable with Mr.Biden. That is a
45、smaller sharethan the 36% who say so ofMr. Sanders and 33% who feelthat way about Ms. Warren,though the differences arewithin the polls margins oferror.The Journal/NBC surveysalso give a few early indica-NBC News surveys sinceMarch, among them Sens. Ber-nie Sanders, Kamala Harrisand Elizabeth Warren
46、.The Journal and NBC Newshave asked Democratic votersfor their early impressions of10 of the partys 21 announcedcandidates in polls releasedSunday and in late March.The results in part reflecteach candidates name recog-nitiona factor likely tochange once the Democraticdebates begin.Mr. Bidens long r
47、ecord inpublic life and a recent contro-versy over unwelcome touch-ing have turned off relativelyfew Democratic voters, accord-ing to the poll.Some 27% in the Journal/move beyond the wave of chal-lenging developments and re-assure investors about thecompanys management andgrowth potential. It said i
48、tdidnt find that the financialmisstatements were material,but involved the incorrect tim-ing of reporting costs and re-bates in contracts.Its latest disclosure, how-ever, shows the extent of theaccounting problems that havecontributed to the big foodcompany losing nearly $20 bil-lion in value.Kraft
49、Heinzs private-equitybackers, 3G Capital, have alsofaced new questions over thecost-cutting approach thatthey wielded at Kraft Heinzand other companies to in-crease profits. 3G helped bro-ker the merger of Kraft andHeinz, and worked to deliverprofit by slashing the com-bined companys workforce,curbing expenses and pushingsuppliers to give more favor-able terms. It also cut researchand marketing spending at atime whe
