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TODAY IN PERSONAL JOURNAL
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CONTENTSBusiness Tech..............B4Corp. News............B2-3,5Global Finance.............C3Heard on Street..........C8In the Markets.............C4Leisure & Arts.............D4
Market Data.............C5-7Opinion.....................A11-13Sports................................D5Style & Travel..........D1-3U.S. News...................A2-6Weather Watch..........B6World News.......A7-8,14
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What’sNews
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World-Widen Kiev accused Russia offunneling more armor intorebel-held areas of Ukraine andsaid Russian troops had seizedvillages in a new offensivealong its southern shore. A7n The Islamic State runs aself-sustaining economy acrossterritory that the terror groupcontrols in Syria and Iraq.A1n Rebel factions in Syria, in-cluding an al Qaeda affiliate,captured a border crossingbetween Syria and Israel. A14n The American campaignin Iraq has leveled off as theU.S. weighs plans for expandedairstrikes and aid drops. A14n Pakistan’s military is closeto an agreement for Sharif tocede control of security affairsand strategic foreign policy. A8nAfghan candidate Abdullahpulled out of a U.N.-super-vised audit of the nation’sdisputed presidential vote. A8n The Israeli-Hamas truceheld for its first full day. TheU.S. and Israel hope a Gazarelief effort will boost mod-erate Palestinian leaders. A14n IMF chief Lagarde wasplaced under formal investi-gation for negligence in aFrench corruption probe. A7n The CBO cut its forecastfor the U.S. government’sdeficit over the next decade,citing low interest rates. A2n A court overturned thecriminal convictions of 16Amish people in a series ofbeard and hair cuttings. A3n A fatal accident at a gunrange involving a 9-year-oldhas raised the issue of agelimits at such operations. A6
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The FBI is probing a com-puter-hacking attack on J.P.
Morgan and as many as fourother banks, in what people fa-miliar with the probe describedas a significant breach of cor-porate computer security. A1n Nonbank lendersmade al-most a quarter of all mortgageloans in the first half amid aretreat from the market bysome traditional banks. C1nAlibaba posted big growthin revenue frommobile devices,which may bolster the firm’scase when pitching its IPO. B1n Argentina’s internationalreserves are starting to dwin-dle after the nation’s default,adding to stress on the peso. C1nThe 30-year Treasury’syield hit its lowest level thisyear as U.S. governmentbonds tracked higher. C4n Stocks ended little changed.The S&P 500 edged up 0.10point to a record 2000.12. C4n The SEC approved rulesrequiring greater disclosureabout loans underpinningasset-backed securities. C3n A new DTCC entity aims toshedmore light onWall Street’sweb of client relationships. C1n California Gov. Brown andlawmakers reached a deal ona tax-credit program to stemthe loss of film and TVwork.A4n A judge denied Apple’s re-quest to bar Samsung fromselling devices in the U.S. thatinfringe on Apple patents. B4n Nike scored a marketingcoup with Michael Jordan’sappearance at Roger Federer’sU.S. Open match Tuesday. B2
Business&Finance
WELLINGTON, Nev.—From hisbasement in a sparsely populatedpart of northwestern Nevada,Patrick Mulreany operates a mu-seum that attracts about fourvisitors a year. Its focus: semi-conductors and the shiny disksused to makethem.
The formerHewlett-Pack-ard Co. engi-neer’s privatecollection ofabout 120 dis-plays highlightsadvancementsin the electronics industry. It alsopoints to the peculiarities of asmall number of people whosepassion is silicon platters.
“There’s a lot of stuff aroundhere that’s one of a kind,” saidMr. Mulreany, smiling as he led avisitor down a long hall with
dozens of framed displays ofchips and wafers on the walls.
Stamp or coin collectors canusually point to the artistic char-acteristics of their holdings. Notpeople who seek out semiconduc-tor wafers, which are processedin factories and diced up to yieldindividual chips.
Though wa-fers are largelyindistinguish-able from oneanother to theuntrained eye,collectors seeaesthetic merit.
“If you holdthem in the
sunshine, they just spit rainbowsright back at your face. They’rebeautiful,” says Joyce Haughey, agraphics designer from Trafalgar,Ind., who keeps several thousandscrap wafers in her studio.
Some enthusiasts, like TimothyPleaseturntopageA6
BY NICK SHCHETKO
You Can’t Eat These Chips,But Some Find Silicon Addictive
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A Select Few See Beauty in Computer Brains;Museum-Quality Industrial Artistry
Silicon wafer
Unexpected Guest at the Wedding
OdedBa
lilty/A
ssociatedPress
PHOTO OP: Israelis Noga and Moshiko Siho leave an army staging area after taking photos on the Israeli-Gaza border on Wednesday, the first fullday of an Israeli-Hamas truce. The U.S. and Israel hope moderate Palestinian leaders will be strengthened in a multibillion-dollar relief effort. A14
The Islamic State runs a self-sustainingeconomy across territory it controls in Syriaand Iraq, pirating oil while exacting tributefrom a population of at least eight million,Arab and Western officials said, making itone of the world’s richest terror groups andan unprecedented threat.
That illicit economy presents a new pic-ture of Islamic State’s financial underpin-nings. The group was once thought to de-pend on funding from Arab Gulf donors anddonations from the broader Muslim world.Now, Islamic State—the former branch of al
BY NOUR MALAS AND MARIA ABI-HABIB
The Islamic State’sEconomy of Extortion
Qaeda that has swallowed parts of Iraq andSyria—is a largely self-financed organization.
Money from outside donors “pales incomparison to their self-funding throughcriminal and terrorist activities,” a U.S. StateDepartment official said, adding that thoseactivities generate millions of dollars eachmonth.
For Western and Arab nations that arestriving to stop Islamic State, the group’s lo-cal funding sources pose a conundrum: Aclampdown on economic activity that helpsfund the group, counterterrorism officialsand experts said, could cause a humanitariancrisis in the already stressed areas Islamic
State controls.“Can you prevent ISIS from taking assets?
Not really, because they’re sitting on a lot ofassets already,” said a Western counterter-rorism official. “So you must disrupt the net-work of trade. But if you disrupt trade incommodities like food, for example, then yourisk starving thousands of civilians.”
From Raqqa in Syria to Mosul in Iraq,Sunni radicals from the group administer anorderly extortion system of business andfarm tributes, public-transport fees and pro-tection payments from Christians and otherreligious minorities who choose to live under
PleaseturntopageA10
TERROR GROUP’S RICHES
Cruelty Reigns Inside CityHeld byMilitantsBAGHDAD—In Islamist-held
Mosul this week, a local doctorwatched insurgents berate andarrest a man in a public market,accusing him of adultery.
When Islamic State militantsthen stoned the man to death inpublic, the doctor chose not towatch. But many others did, andnot by choice. The fighters re-peatedly screened a video re-cording of the killing on severallarge digital monitors theyerected in the city center.
More than two months after
the Sunni extremist group tookover on June 10, such displays ofpublic brutality and humiliationhave become part of a constantdrumbeat of indignity enduredby the population of Iraq’s sec-ond-largest city, according to
about half a dozen residents in-terviewed by phone.
A United Nations report pub-lished Wednesday said IslamicState militants, who have cap-tured large swaths of territoryacross Syria and Iraq, hold exe-cutions, amputations and lash-ings in public squares regularlyon Fridays in territory they con-trol in northern Syria. They urgecivilians, including children, towatch, according to the report.
Initially, many in the Sunni-majority city of Mosul werepleased to see Islamic Statefighters send the mostly Shiite
Iraqi army fleeing after sectariantensions in the country worsenedunder Prime Minister Nouri al-Maliki. But that enthusiasmfaded fast.
“People aren’t sympathizingwith them anymore,” said thedoctor. “People wanted to get ridof the Iraqi army. But after theIslamic State turned against Mo-sul, the people of Mosul startedturning against them.”
Residents say the rising re-sentment has come alongside ru-mors that homegrown militiasare mustering troops in secret to
PleaseturntopageA10
BY MATT BRADLEY
Missing FromMajor CollegeStadiums:The Students
Football stadiums will bepacked this weekend for the kick-off of the college season. Butmany of the student sections arelikely to have empty seats.
Average student attendance atcollege football games is down7.1% since 2009, according to ananalysis by The Wall Street Jour-nal of stadium turnstile recordsfrom about 50 public collegeswith top-division football teams.The decline was 5.6% at collegesin the five richest conferences.
The decrease even at schoolswith entrenched football tradi-tions and national championshipsstands in contrast to college foot-ball’s overall popularity. Totalturnout at home games of top-tierteams hit a record in 2013, while
Pleaseturntothenextpage
BY BEN COHEN
Islamist Conflict Rebels seize border area
between Syria, Israel ...... A14 Islamic State’s social-media
strategy................................ A14 U.S. airstrikes ease in Iraq
as new plans weighed.... A14
The Federal Bureau of Inves-tigation is probing a computer-hacking attack on J.P. MorganChase & Co. and as many as fourother banks, in what people fa-miliar with the probe describedas a significant breach of corpo-rate computer security.
The timing and extent of thehacking attacks weren’t immedi-ately clear, though cybersecurityexperts began probing the possi-ble J.P. Morgan breach earlierthis month, according to peoplefamiliar with the investigation.
Those people said the evi-dence gathered so far suggestedhackers were able to make a sig-nificant foray into J.P. Morgan’scomputer system. People withknowledge of the probe said itappeared between two and fiveU.S. financial institutions mayhave been affected. The namesof all targeted banks couldn’t beimmediately determined.
J.P. Morgan isn’t seeing con-siderable fraud related to theattack, a person familiar withthe matter said. The companyand federal cyber investigatorsare in discussions as they exam-ine the apparent attack on thebank’s computer system.
“Companies of our size un-fortunately experience cyberat-tacks nearly every day,” said
PleaseturntopageA6
By Danny Yadron,Emily Glazer
and Devlin Barrett
Big BanksAre HitIn CyberAttacks
How college teams rank, on thefield and off..................................... D5
Another IMF Boss,Another Probe
SUSPECT: Christine Lagarde isunder investigation for negligencein a corruption probe from her daysas France’s finance minister. A7
Thom
asSa
mson/AgenceFrance-Presse/Getty
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