The Wall Street Journal du 22-06-2022
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Publié par
Date de parution 22 juin 2022
Langue Français
Poids de l'ouvrage 7 Mo

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WSJ.com U.S.Edition**** TUESDAY, JUNE 21, 2022 ~ VOL. CCLXXIX NO. 142
DJIA Closed(29888.78) NASDAQ Closed(10798.35) STOXX600 407.14 À1.0% 10-YR.TREAS. Closed(yield3.238%) OIL Closed($109.56) GOLD Closed($1,835.60) EURO $1.0511 YEN 135.09
U.S.RollsOutCovid-19VaccineforChildrenUnder5 EYPlan
What’s ToSplitNews
SetsUp
Business&Finance
APartner
rnst&Young’splan toEsplit its audit and
consulting businesses would Windfall
give thousands of its
partners multimillion-dollar
payouts and relies on opti- Proposaltodivide
mistic assumptions for
auditing,consultinggrowth to justify the deal,
according to internal com- unitsrelieson
pany documents and people
optimisticforecastsfamiliar with the matter.A1
Mondelezsaid it would
BYJEANEAGLESHAM
acquire Clif Bar for at least
ANDKENBROWN
$2.9 billion in a deal the
company said it expects to
Ernst & Young’s plan to
closeinthethirdquarter.B1 split its audit and consulting
JetBlueiscontinuing its businesses would give
thouquest to buy Spirit, increas- sands of its partners
multimilingitsofferandstrengthen- lion-dollar payouts and relies
ingitscommitmenttodivest on optimistic assumptions for
itselfofassetstogetregula- growth to justify the deal,
actoryapprovalforthedeal.B1 cording to internal company
documents and people
familiar
Aninvestorgroupisagiwith the
matter.
tatingforchangeataLondonThe plan would split up
thelistedinvestmentvehiclemanSIT TIGHT: Kaitlin Harring administers a Covid-19 vaccination to 3-year-old Fletcher Pack while he sits on the lap of his firm’s accountants who audit
aged by Trian, arguing the
mother, McKenzie Pack, in Lexington, S.C., Monday, the first day the vaccine was made available to U.S. children under 5. A5 companies like Amazon.com
company has deviated from
Inc. from its faster-growing
its original purpose when
consulting business, which
adit went public in 2018. B1
vises businesses on tax issues,
Appleemployees at a re- deals and technology, among
tail store outside Baltimore other things.
voted to unionize, creating The internal documentsStocksOftenDon’tHitBottom
the first union of Apple re- show that Ernst & Young
betail workers in the U.S. B3 lieves both firms could grow
faster and be more profitable
Internationalstocks
on their own. The breakup of
broadly rose, while U.S. UntilFedShiftsBacktoEasing
the 312,000-person firm
markets were closed for the
could happen as soon as late
Juneteenth holiday. Cryp- BYAKANEOTANI off at least 15% on 17 occa- last week, its biggest decline economy might go into a next year.
tocurrencies steadied. B8
sions, according to research since the pandemic-fueled sell- downturn. Data on retail sales, This account of EY’s plan,
“Lightyear”posted Another week of whipsaw from Vickie Chang, a global off of March 2020. consumer sentiment, home code-named Project Everest, is
box-office sales of $51 mil- stock trading has many inves- markets strategist at Goldman And the Fed has only just construction and factory activ- based on internal documents
lion in the U.S. and Can- tors wondering how much fur- Sachs Group Inc. On 11 of gotten started. After approv- ity have all shown significant distributedtotopEYexecutives
ada, the 16th-best opening ther markets will fall. those 17 occasions, the stock ing its largest interest-rate in- weakening in recent weeks. in May and reviewed by The
weekend for Pixar, owned If history is any guide, the market managed to bottom crease since 1994 on Wednes- While corporate earnings are Wall Street Journal, as well as
by Walt Disney Co. B2 selloff might still be in its out only around the time the day, the central bank signaled PleaseturntopageA2 peoplefamiliarwiththematter.
early stages. Fed shifted toward loosening that it intends to raise rates Under a May version of the
China’sTianqiLithium
Investors have often blamed monetary policy again. several more times this year  Outlook: Economists say internal proposal, the consult-began marketing what is
the Federal Reserve for market Getting to that point might so it can tamp down inflation. recession is more likely....... A2 ing business would go public,
expected to be Hong
routs. It turns out the Fed has be painful. The S&P 500 has Tightening monetary policy,  James Mackintosh: Central hoping to sell a stake of
Kong’s largest initial public
often had a hand in market fallen 23% in 2022, marking its combined with inflation run- banks threaten markets.......B9 around 15% of the company for
offering so far this year. B4
turnarounds, too. Going back worst start to a year since ning at a four-decade high, has  Heard on the Street: Soft more than $10 billion, while
to 1950, the S&P 500 has sold 1932. The index declined 5.8% many investors fearful that the landings are a myth................B9 PleaseturntopageA4
World-Wide
INSIDEIsraeliPrimeMinister LaborShortageWeighs
Israel’sGovernmentNaftaliBennettsaidhewould
movetodissolvethegovernment and call for the coun- OnSmallBusinesses
try’s fifth election in three Collapses,Setting
years, marking the end of
the most diverse ruling co- BYRUTHSIMON around 20, making it difficult
alition in Israel’s history.A1 for the Rickreall, Ore., logging StageforNewVote
Small businesses are losing contractor to keep its eight-Israelisintensifying its
ground in the hiring game. person crews fully
staffed.campaigntothwartIran’snuHead counts at companies Owner Jim Gahlsdorf said he BYDOVLIEBER Prime Minister Benjamin
Ne-clear,missileanddroneprowith fewer than 50 employees turns down an offer about once tanyahu. Now, the prospect of
gramswithcovertoperations
declined in three of the past a month to look at or bid on a TEL AVIV—Prime Minister new elections gives Mr.
Netantargeting a broader range
four months, according to ADP potential job because he Naftali Bennett of Israel said yahu, the country’s longest-of key targets, people
familpayroll data, even as employ- doesn’t have the workers. Monday he would move to dis- serving prime minister, a freshiar with the effort said. A8 JASONGAYment at larger firms continued Some small logging opera- solve the government and call shot at regaining power.
Morethan5,000flights to grow. tors have dropped to one crew for the country’s fifth election The decision ends an un-Thebestsportsfor
werecanceledbyU.S.carriers Owners of many small com- from two in response to labor in three years, marking the usual period in Israeli politics,dozingoffinthe
over the busy Father’s Day panies said inflation has added shortages. Mr. Gahlsdorf said end of the most diverse ruling when a coalition from the
middleoftheandJuneteenthholidayweek- to the pressures of an already he worries that a slimmed- coalition in Israel’s history. country’s center, right, left
end despite industrywide action.A14tight job market, making it in- down operation wouldn’t pro- Mr. Bennett said Foreign and an independent Arab
efforts to tackle the knock- creasingly difficult to keep pace duce enough revenue to cover Minister Yair Lapid, a former party came together for the
on effects of staff shortages with the wages and benefits of- overhead. He is hoping that as news anchor turned centrist
firsttimetoformagovernand inclement weather. A3 fered by large employers. The the number of crews operated U.S.NEWS politician, would lead the ment. The coalition is now
hiring challenges are stunting by competitors declines, cus- country in the interim period, poised to be among the short-Morethan5,000PresidentBidensaid
growth, small-business owners tomers will pay more for his which could last several est-lived in Israel’s history, af-he may make a decision flightswerecanceled
said, and further clouding their PleaseturntopageA4 months. The two leaders from PleaseturntopageA8
within days on seeking a overtheholidaydeteriorating economic outlook. opposite sides of the Israeli
pause to the federal
gasoAt Gahlsdorf Logging Inc.,  Construction projects running weekend.A3 political spectrum joined  Israel widens covert actionsline tax as Americans deal
the head count is stuck at short on labor........................... A4 forces last year to oust former to rein in Iran............................. A8with soaring prices. A3
Canadapledgedtospend
more than $30 billion over Annulments,the next two decades to GM,FordTurnon
help detect and track
military threats from Russia Theologyand
and China in the Arctic. A9 EachOtherinEVs
Russianforceslaunched Batman
airstrikes and artillery
atiiitacks as they pressed their
offensive in eastern Ukraine Detroit’sgreatestrivalryisintensifyingPriest podcasts
and the fight for control intheracetotakeonTeslaof the key city of Severo- answer questionsdonetsk intensified. A6
BYMIKECOLIAS meetings with investors, Ms.
Macron’slossofamajor- Barra was facing questionson many topics
ity in France’s Parliament Mary Barra, General Mo- about why Ford’s truck
is an early sign of how the BYCLAREANSBERRY tors Co.’s chief executive, would beat GM’s to market
squeezeonEuropeanenergy spent weeks preparing for an by a year. “They want to
betprices is raising the stakes PITTSBURGH—What does onstage unveiling of the ter understand the portfolio
forthecontinent’sleadersas the Catholic Church teach electric Chevrolet Silverado, of EVs that we have coming,”
the invasion of Ukraine be- about annulment? Should GM’s big play in the fledg- Ms. Barra said of the
meetcomes a war of attrition.A6 there be a theology of the in- ling market for battery-pow- ings, adding that the topic Accelerate
ternet? Is it OK to like ered pickup trucks. didn’t dominate the
converCONTENTS Opinion.............. A15-17 ketchup-flavored potato chips? Ten miles away at Ford sation.
Arts in Review... A13 Personal JournalA11-12
Two priests have the an- Motor Co.’s headquarters, ex- The Ford-GM rivalry—one insightswhere
Business News...... B3 Sports....................... A14
swers on their podcast about ecutives were plotting a pre- of the business world’s fierc-Crossword.............. A14 Technology............... B4
Business&Financ

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