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* * * * * FRIDAY, JULY 10, 2020 ~ VOL. CCLXXVI NO. 8 WSJ.com HHHH $4 .00
DJIA 25706.09 g 361.19 1.4% NASDAQ 10547.75 À 0.5% STOXX600 363.64 g 0.8% 10-YR. TREAS. (Reopening) , yield 0.605% OIL $39.62 g $1.28 GOLD $1,799.20 g $16.30 EURO $1.1286 YEN 107.20
Mayor of South Korea’s Capital Is Found Dead
KIM
HONG-JI/RE
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GRIM DISCOVERY: Police carry the body of Seoul Mayor Park Won-soon, which was found early Fridayafter he was reported missing. There was no immediate evidence suggesting a homicide, a police officialsaid. Local media reported that a former secretary had accused the mayor of sexual misconduct. A8
No Exit: The French, Stuck atHome, Become Tourists in France
i i i
Strangers in their own land, localsdiscover the Eiffel Tower, Provence
PARIS—The French are ven-turing into unknown territory:France.
Every summer French vaca-tioners snub their homeland infavor of far-flung destinations,allowing France, the world’stop tourism destination, to be-come a playground for foreigntourists.
That means millions ofFrench have never climbed theEiffel Tower; or soaked up
views from the summit of MontBlanc; or sauntered along Nice’spalm tree-studded Promenadedes Anglais. The French havenever seen themselves as“Leven als god in Frankrijk,” asthe Dutch like to say, or “Livinglike a god in France.’’
It’s an embarrassment ofriches that has long stood incontrast with the perennialmalaise that many French feeltoward France. “Being French isto live in a paradise inhabited
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BY BENOÎT MORENNE
Norman
OKLAHOMA
Populatedareas
Sources: U.S. Census Bureau; U.S. Supreme Court Brian McGill/THE WALL STREET JOURNAL
Tulsa
Area ofdetail
4040
44
4435
35
Oklahoma City
Stillwater
Bartlesville
Lawton
Enid Cherokee
Muscogee(Creek)
ChoctawChickasaw
Seminole
WASHINGTON—The Su-preme Court paved the way fora New York prosecutor to en-force a subpoena for PresidentTrump’s financial and tax re-cords, but issued a mixed deci-sion in a related case involvingsubpoenas from Congress.
The decisions—both on 7-2votes on Thursday—send thecases back to lower courts,where Mr. Trump can raise ad-ditional objections to the sub-poenas. The rulings put off,likely until after the Novemberelection, any ability to see Mr.Trump’s financial records. Butthe justices also have acceler-ated a criminal investigationinto hush-money payments towomen who claim to have hadaffairs with Mr. Trump be-cause New York prosecutorsnow can move forward with-out waiting for the presidentto leave office.
The decisions reaffirmed thecourt’s longstanding principle
BY BRENT KENDALLAND JESS BRAVIN
that the rule of law applies toeveryone. But the justices rec-ognized the role the presidentplays and sought to set rulesthat give him room to lead thenation, while also respectingthe prerogatives of lawmakersand law-enforcement officials.
In the New York case, thecourt rejected Mr. Trump’soverarching claim that aspresident, he enjoys absoluteimmunity from the disclosureof information sought by pros-ecutors.
Writing for the court, ChiefJustice John Roberts recalledthe trial of Aaron Burr for trea-son, when then-Chief JusticeJohn Marshall ordered then-President Jefferson to turnover evidence the former vicepresident sought in his defense.
“Two hundred years ago, agreat jurist of our Court estab-lished that no citizen, not eventhe President, is categoricallyabove the common duty to pro-duce evidence when calledupon in a criminal proceeding,”Chief Justice Roberts wrote.“We reaffirm that principle to-day and hold that the Presidentis neither absolutely immunefrom state criminal subpoenasseeking his private papers norentitled to a heightened stan-
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Trump DealtSetback onDisclosuresJustices pave way forN.Y. prosecutor to viewrecords, but for nowdeny Congress access
Court Backs Tribe on TreatiesThe Supreme Court declared a swath of Oklahoma to bepart of the Muscogee (Creek) Nation’s reservation,enforcing 19th-century treaties in a landmark ruling. A4
MANSIONBlack interior
designers are seeingincreased attentionand business.M1
The rising tide of coronavi-rus cases in the U.S. South andWest, coming four monthsinto the outbreak, emergedamid a patchwork of often
confusing or conflicting rulesacross government that haveproved inconsistent and oftendifficult to enforce, makingthe pandemic harder to halt.
With the federal govern-ment handing off many deci-sions over reopening, the
By Arian Campo-Flores,Rebecca Ballhaus
andValerie Bauerlein
production by more than one-third in lateApril.
Meatpackers in response spent hundredsof millions of dollars on safety equipmentsuch as personal protective gear, thermalscanners and workplace partitions, and theyboosted workers’ pay to encourage them tostay on the job.
They also are searching for a longer-termsolution. That quest is playing out in a for-mer truck-maintenance shop near the Spring-dale, Ark., headquarters of meatpacking giantTyson Foods Inc. There, company engineersand scientists are pushing into robotics, a de-
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SPRINGDALE, Ark.––Deboning livestockand slicing up chickens has long been hands-on labor. Low-paid workers using knives andsaws work on carcasses moving steadilydown production lines. It is labor-intensiveand dangerous work.
Those factory floors have been especiallyconducive to spreading coronavirus. In Apriland May, more than 17,300 meat and poultryprocessing workers in 29 states were in-fected and 91 died, according to the U.S. Cen-ters for Disease Control and Prevention.Plant shutdowns reduced U.S. beef and pork
BY JACOB BUNGE AND JESSE NEWMAN
China Cautions InvestorsAbout Market Exuberance
mism among China’s millionsof individual investors, whodominate trading.
There is concern that thegains have been too rapid. Chi-nese state media urged inves-tors this week to think longterm. Authorities also high-lighted hundreds of operationsmaking illegal loans againstshares, indicating that Beijingis eager to prevent stocks fromovershooting.
In a sign of such exuber-ance, QuantumCTek Co. surgedabout 10-fold on its first dayof trading in Shanghai onThursday, giving it a $4.2 bil-lion market value.
The Shanghai market took a
breather early Friday, with itsstock benchmark down about1%.
Stock-market gains are oc-curring against a brighteningeconomic backdrop. Someeconomists expect second-quarter data to show China’seconomy grew in the threemonths through June.
Larry Hu, chief China econo-mist at Macquarie Capital Ltd.,forecasts 3% year-over-yeargrowth in gross domestic prod-uct, compared with a 6.8% de-cline in the first quarter. “It’s aV-shaped recovery, but thequestion remains how resilientit’s going to be in the second
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China’s yuan has strength-ened to levels last hit in Marchand local financial marketshave rallied as confidencebuilds that the country’s econ-omy is shaking off the corona-
virus pandemic.The optimism has spurred
mainland Chinese stocks tomultiyear highs in recent days,with the Shanghai Compositerising 16.5% over eight straightsessions of gains throughThursday. Those increaseswere partly fueled by opti-
By Chong Koh Ping,Xie Yu
and Joanne Chiu
Meatpackers Slammed by VirusTurn to Robot Butchers
Pandemic speeds shift, but machines can’t yet match humans
INSIDE
WHO shifts its guidelines onCovid-19......................................... A7
states have been the primarydrivers behind moves with themost impact on the coronavi-rus’s spread. States, in turn,have often given responsibilityfor many of those decisions tocounties, cities and businesses.
The result is a dizzying mixof rules and guidelines that candiffer widely from one region tothe next. It is a reflection of theAmerican system of governancethat limits federal power anddistributes power across states
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U.S. Policy PatchworkSpurs New Covid Surge
day. He also allowed for thepossibility of not playing at allthis fall, saying: “It’s importantto get across that we’re alsoprepared not to play should thecircumstances dictate. We’retaking this one step at a time.”
College football is one of themost lucrative operations formany big universities, and par-ing it back—or canceling it alto-gether—is another powerful fi-nancial blow to universitiesthat are struggling to keep stu-dents during the pandemic.Athletics are turning out to be athorny aspect of navigating the
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The Big Ten conferencecanceled nonconference ath-letic competitions includingfootball games because of thecoronavirus pandemic and sig-naled that its whole seasonmight be in jeopardy, a movethat could begin to unravel theentire college-football season.
“We are focused on how toplay this season in a safe andresponsible way based on thebest advice of our medical ex-perts,” Big Ten commissionerKevin Warren said on Thurs-
BY LAINE HIGGINSAND RACHEL BACHMAN
Big Ten Calls OffNonleague Games
CONTENTSBanking & Finance B10Business News.. B3,6Crossword............... A11Heard on Street. B12Life & Arts....... A10-11Mansion............. M1-16
Markets..................... B11Opinion.............. A13-15Sports........................ A12Technology............... B4U.S. News............. A2-7Weather................... A11World News...... A8,16
s 2020 Dow Jones & Company, Inc.All Rights Reserved
>
What’sNews
The Supreme Courtpaved the way for a NewYork prosecutor to enforcea subpoena for Trump’s fi-nancial and tax records, butissued a mixed decision in arelated case involving sub-poenas from Congress. A1 The high court declareda swath of Oklahoma to bepart of theMuscogee (Creek)Nation’s reservation with a5-4 ruling that upheld19th-century treaties. A4The rising tide of corona-virus cases in the U.S. Southand West emerged amid apatchwork of often confus-ing or conflicting rulesacross government. A1, A5-7 The Big Ten cancelednonconference athleticcompetitions includingfootball games and sig-naled that its whole sea-son might be in jeopardy. A1Mnuchin said theTrump administration isworking with the Senateto pass a new bill for coro-navirus-related economicaid by the end of July. A5 Biden laid out a $700 bil-lion plan to revive the U.S.economy with an America-centric approach to job cre-ation and manufacturing. A5 Former Manhattan U.S.Attorney Berman told law-makers that Barr repeat-edly pressured him to stepdown voluntarily. A3 Ex-Trump lawyer Cohenwas taken back into custodyafter a dispute with proba-tion officers over terms ofhis home confinement. A3The U.S. imposed sanc-tions on senior officials inChina’s Xinjiang region. A8
Mainland China stockshave surged to multi-
year highs in recent days,raising concerns of too-rapidgains amid signals thatBeijing is eager to preventshares from overshooting.A1New applications for un-employment benefits edgeddown last week and the num-ber of people receiving pay-ments fell to the lowest levelsincemid-April, signs of somehealing in the labormarket.A2 ByteDance is consider-ing changing the corporatestructure of its popularapp TikTok, amid scrutinyover its Chinese ties. B1Starbucks will requirecustomers in the U.S. to wearmasks at company-operatedstores starting next week. B1Hedge-fund tycoon Ack-man is expected next weekto launch an initial public of-fering of the biggest “blankcheck” company ever. B1Walgreens Boots said itplans to cut about 4,000jobs in the U.K. and sus-pend stock buybacks. B1 The Dow fell 1.4% andthe S&P 500 dropped 0.6%in Thursday’s session, whilethe Nasdaq gained 0.5%. B11 German prosecutors arelooking into possible moneylaundering by executives atpayments firmWirecard. B2 Two U.S. airlines havecanceled Hong Kong flightsafter the city said all arriv-ing crews would have toundergo Covid-19 tests. B3Prices for forest productslike lumber and plywoodhave soared as demand hasboomedamidthepandemic.B1
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