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What’sNews
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World-WidenWashington’s allies abroaddidn’t make clear how farthey would go to join mili-tary operations against Is-lamic State even as theypledged their support. A1n Defense officials said theexpanded campaign againstthe militants will unfold grad-ually over several months. A7nCongress broadly expressedsupport for Obama’s plan to aidSyrian rebels fighting IslamicState, but hurdles emerged. A7nSyrian Islamist rebels freed45 U.N. peacekeepers from Fijiwho were captured two weeksago in the Golan Heights. A7nHomeland Security is plan-ning to create a military-likechain of command to policethe Southwest U.S. border. A3n The U.S. health-care in-dustry saw revenue reboundlast quarter, aided by spend-ing under the health law. A4n A judge ruled out convict-ing Pistorius of murder butopened the door to a possi-ble manslaughter verdict. A9nOpponents of independencefor Scotland gained strength ina poll that showed the anti-se-cession vote reaching 50%. A8n Goodell didn’t pursue theRice incident as vigorouslyas he might have out of re-spect for Rice’s now-wife, ac-cording to one NFL owner. D9n School systems are improv-ing but states aren’t doingenough to keep theU.S. compet-itive globally, a report said. A6n Fossils have revealed thatthe largest known predatorever to walk the earth wasalso an excellent swimmer. A6
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Sanctions against Russiahave entangled Exxon in
U.S. foreign policy and threatenone of the company’s bestchances to find and tap much-needed supplies of crude. A1n Yahoo faced the threat ofbig U.S. fines in 2008 amid asecret legal battle over re-quests for customer data. B1n RadioShack warned thatit would soon run out ofcash and could be forced toturn to bankruptcy court. B1n Gasoline prices have tum-bled from highs hit in Juneandmarkets are signaling evenmore relief at the pump. C1n J.P. Morgan’s Dimon haspushed though weeks of can-cer treatment while stayingactive in the bank’s business.A1n Banks pitching Alibaba’sIPO are trying to convincefund managers that the firm’sshares are a bargain. C1n Federal prosecutors areconducting a criminal probeinto the rise and fall ofshares in Cynk Technology. C1n American expats are be-ing cut off by banks leery ofthe U.S. crackdown on moneylaundering and tax evasion. C1n Chinese regulators leviedfines against local arms ofAudi and Chrysler over theprices of cars and parts. B1n The Dow industrialsslipped 19.71 points to17049.00 but other major in-dexes eked out small gains. C4nActivist investors are rais-ing billions in an effort to takeadvantage of their increas-ing clout in boardrooms. C1
Business&Finance
A day after President BarackObama outlined a strategy to com-bat Islamic State militants, Wash-ington’s international allies didn’tmake clear how far they would goto join military operations even asthey pledged their support.
Mr. Obama vowed to “de-grade and ultimately destroy”the extremist group which hasgrabbed territory across Iraqand Syria and harbors ambitionsfor more. After a day of consult-ing with Secretary of State JohnKerry in Saudi Arabia, most ofIraq’s neighbors signed onto astatement of support.
In the communiqué, leadingArab states committed to work-ing with the U.S. to cut off theflow of foreign fighters andfunds into the Islamic State.
Turkey—which has opposed al-lowing the U.S. to use bases on itsterritory for airstrikes against Is-lamic State—didn’t sign the com-muniqué. Nearly 50 Turkish diplo-mats are being held bymilitants inthe Iraqi city of Mosul, which Is-lamic State captured in June.
In Europe, Germany said itwould not take part in airstrikes,while the U.K. said it wasn’t rulingout participation. Several dozenEuropean and other countriesagreed during this month’s NorthAtlantic Treaty Organization sum-mit in Wales to support the cam-paign, but as of Thursday, manywere still weighing the specific
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BY MARIA ABI-HABIBAND JAY SOLOMON
AlliesVowSupport,Offer FewSpecifics
When Exxon Mobil Corp.Chief Executive Rex Tillerson de-tailed a deal to drill for oil inRussia’s Arctic Sea two yearsago, he predicted that the proj-ect would strengthen the ties be-tween the U.S. and Russia.
Instead, Exxon has wound upin the cross hairs of U.S. foreignpolicy, which could threaten oneof the company’s best chances tofind and tap significant—and
much needed—amounts of crudeoil.
The U.S. on Thursday an-nounced new sanctions targetingRussia’s financial, defense andenergy sectors in a bid to punishthe Kremlin for stoking the mili-tary conflict in Ukraine. Detailsof the sanctions, designed tomatch new measures imposed bythe European Union, are set tobe released Friday.
A U.S. official said the newpenalties would affect Exxon’s
current drilling in the icy KaraSea with its Kremlin-controlledpartner, OAO Rosneft, thoughthe extent of the impact was un-clear Thursday.
No other Western energycompany has as much direct ex-posure to Russia as Exxon,thanks to a $3.2 billion deal giv-ing the company access to aswath of the Arctic larger thanTexas that could hold the equiv-alent of billions of barrels of oiland gas.
Officials in Europe, which hasextensive trade links to Russia,have insisted that Western na-tions share the fallout fromsanctions against Moscow. Rus-sia has said it would retaliateagainst additional sanctions withmeasures of its own, furtherheightening the risks to compa-nies operating there, legal ex-perts said.
Exxon is “assessing the sanc-tions,” said Alan Jeffers, a com-
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BY DANIEL GILBERT
Sanctions Threaten ExxonNewU.S. Restrictions Put Oil Giant’s Big BetWith Russian Partner in Cross Hairs
When United Parcel ServiceInc. Chief Executive David Abneybought his first book from Ama-zon.com Inc. about 15 years ago,e-commerce seemed no morecomplicated than ordering froma catalog. “Pretty basic,” he says.
Online sales have mush-roomed since then into a hugebusiness for the package-deliverycompany—and a big problem.
Because of the ubiquity of freeshipping, fierce competition fromother delivery services and Ama-zon’s power to drive down ship-ping costs as it gets even moreenormous, UPS’s average revenueon each Internet-related packageit handles is dropping.
Even though net income lastyear was the highest ever at UPS, profit margins ondeliveries in the U.S. have been flat for three years,a sign that online sales aren’t helping the bottomline as much as they used to. UPS also has lost
market share in e-commerceshipments. According to ship-ment-tracking software devel-oper ShipMatrix Inc., UPS deliv-ers about 42% of e-commercegoods, down from the company’sestimate of 55% in 1999.
The numbers add up to one ofthe biggest challenges in thecompany’s 108-year history. Un-der Mr. Abney, a 59-year-old UPSlifer who took over as CEO onSept. 1, the company is trying tosqueeze costs out of its sprawl-ing delivery network and drumup more revenue. UPS is undermore pressure than FedEx Corp.and the U.S. Postal Service be-cause UPS is the biggest e-com-merce carrier and its two rivalsdived into the business later withnarrower strategies.
In the most extensive interview since UPS an-nounced his promotion in June, Mr. Abney said therise of e-commerce “has challenged some of our
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BY LAURA STEVENS
BOXED-IN
At UPS, E-Commerce BoomProves a Heavy Lift
StalledUPS average revenue per U.S.package delivery
The Wall Street Journal*Through June 30 Source: the company
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A Somber Day to Remember 9/11 Around the U.S.
GeneJ.
Puskar/A
ssociatedPress
ANNIVERSARY RITE: Family and friends of the 40 passengers and crew walk past the Wall of Names at the Flight 93 National Memorial in Shanksville, Pa.
For Drivers in Belgium,God Is Their Insurance Agent
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Thousands Bring Cars to Be Blessed by Priest;A Sprinkle of Holy Water for the Road
SCHERPENHEUVEL, Belgium—Belgium’s roads are among theriskiest in Europe so thousands ofdrivers come here to take out anAlmighty insurance policy.
Every year, morethan 5,000 peo-ple—most of themBelgian, along witha few Dutch andGermans—drive tothis pilgrimage siteto have their carsblessed by a priest.
For MarianoDuye, the trip is afamily tradition.His mother used totake him to Scher-penheuvel to have the family carblessed. “In God we trust, so wedrive safer,” he said.
He lives in Leuven, a half-hourdrive from Scherpenheuvel, andhas brought each of the five cars
he has owned to the church. Theblessing, he said, provides a senseof safety when he is back on theroad.
Some, like Karen Ventsmolderfrom Limburg, who also broughta family picture for blessing, are
driven here byfaith. She said shewas encouraged byan accident tobring her cars here.
The church atScherpenheuvelisn’t the only one inEurope that blessescars—there is aspecial RomanCatholic prayer forit—but it standsout because it is
open every day.It has also been in the business
for centuries. The church here be-gan a tradition for blessing horse-drawn carriages when it was built
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BY MATHIAS ASK
A priest blesses a car
Independence Vote for Scotland Remains Close in Poll
JUST DESSERTS: An Edinburgh bakery on Thursday offered up opinions on the Sept. 18 Scottish referendum. A8
Getty
Images
In the days after J.P. MorganChase & Co. chief James Dimondisclosed he had throat cancer,the 58-year-old executive receivedan email from Warren Buffett.
Mr. Buffett, the BerkshireHathaway Inc. head who had re-ceived treatment for prostate can-cer in 2012, advised Mr. Dimon torest often and bring entertain-ment such as episodes of Mr. Buf-fett’s favorite television show,“Breaking Bad,” to his treatmentsessions.
Mr. Dimon did both. Now,about eight weeks after startingradiation and chemotherapy
treatments, the J.P. Morgan chair-man and chief executive has fin-ished his scheduled rounds. Henext begins difficult weeks of re-covery and waiting.
The longtime executive re-mains under the close watch ofdoctors, who will monitor hisprogress during the crucial com-ing months to determine whetherhe is cancer-free, people familiarwith the matter said. Mr. Dimonmay still face additional side ef-fects and, possibly, more treat-ment, and doctors will continueto watch for problems for severalyears, the people said.
Still, J.P. Morgan, the nation’slargest bank by assets, has set-
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BY EMILY GLAZERAND ANUPREETA DAS
J.P. Morgan Chief Slows,A Little, to Fight Cancer
Pentagon advances plan todefeat jihadists.............................. A7
Syrian Islamist rebels releaseU.N. troops........................................ A7
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