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YELLOW ****** FRIDAY, DECEMBER 5, 2014 ~ VOL. CCLXIV NO. 133 WSJ.com HHHH $3.00 DJIA 17900.10 g 12.52 0.1% NASDAQ 4769.44 g 0.1% NIKKEI 17887.21 À 0.9% STOXX 600 344.84 g 1.3% 10-YR. TREAS. À 8/32 , yield 2.256% OIL $66.81 g $0.57 GOLD $1,207.50 g $1.00 EURO $1.2379 YEN 119.80 CONTENTS Books & Television... D6 Corporate News B2,3,5 Global Finance............ C3 Heard on Street...... C10 In the Markets........... C4 Movies & Art.......... D4,5 Music................................ D2 Opinion................... A11-13 Sports .............................. D8 Theater............................ D7 U.S. News ................. A2-6 Weather Watch......... B5 World News...... A7-9,14 s Copyright 2014 Dow Jones & Company. All Rights Reserved > What’s News i i i World-Wide n A U.S. military mission to free an American hostage held in Yemen may have failed in part due to delays in planning and approval, officials said. A1 n Police departments are racing to develop new training rules on the use of force amid federal scrutiny of deaths in New York and Missouri. A1 n Protests rippled across the country a day after a grand jury didn’t charge a New York City police officer in the death of an unarmed black man. A6 n Putin accused the West of provoking the crisis in Ukraine and using sanctions to try to contain Russia. A7 n Islamist rebels launched the largest attack in years in Chechnya’s capital, Grozny, leaving at least 20 dead. A7 n A New Jersey probe couldn’t determine whether Gov. Chris- tie knew in advance of contro- versial bridge-lane closures. A2 n This year’s flu vaccine may not fully protect against the virus because a strain has mutated, the CDC said. A2 n Sexual assaults reported by military-service members increased 8% in 2014, accord- ing to a Pentagon survey. A4 n The House appears on track to pass a spending bill after voting against Obama’s action on immigration. A4 n U.A.E. authorities arrested a woman they say is responsi- ble for the stabbing death of an American teacher. A14 n Residents fled the central Philippines in preparation for a powerful typhoon. A9 i i i U ber raised $1.2 billion, valuing the ride-sharing service at $41 billion, a bet by investors that it can sustain a breakneck expansion pace. A1 n BATS faces a record fine of $12 million to $13 million over how its Direct Edge exchanges handled customer orders. C1 n A U.S. probe of Och-Ziff over its dealings with Libya’s Gadhafi regime is focusing on a multimillion-dollar fee. C1 n The ECB discussed bolder stimulus moves for the euro- zone economy but deferred any action until early 2015. A8 n U.S. stocks slipped in the absence of new steps by the ECB. The Dow industrials fell 12.52 points to 17900.10. C4 n Shanghai stocks surged 4.3% Thursday, their best percentage gain since 2012, amid a return to the market by small investors. C1 n Saudi Arabia deepened the discount at which it sells oil to the U.S. and Asia. Brent crude slid to a four-year low. C4 n The drop in oil prices is sparking hopes among bankers and investors for a merger wave in the energy industry. B1 n The hack at Sony Pictures revealed far more personal data than previously believed. B1 n The judge in an Apple anti- trust case questioned whether any of the plaintiffs actually bought the iPods at issue. B3 n Barnes & Noble is buying out Microsoft’s stake in Nook for about $125 million. B3 n Sears said it has the funds to meet financial obligations as it posted a wider loss. B3 Business & Finance The U.S. learned about the possible location of an Ameri- can hostage now being threat- ened with death by militants in Yemen a week before the Penta- gon launched a mission aimed at rescuing him last month, U.S. officials said. But some U.S. officials said they now believe delays in the planning and approval of the operation contributed to its failure to free journalist Luke Somers. Others said there was incomplete intelligence and that the Pentagon and White House moved quickly to ap- prove the operation once it was presented. The planning of the raid has come under scrutiny as the al Qaeda affiliate in Yemen late Wednesday released a video showing Mr. Somers, 33 years old, and threatening to kill him by the end of the week. In a video obtained by the SITE Intelligence Group, which tracks jihadist activities, Mr. Somers was shown saying he was “certain that my life is in danger.” Militants moved at least two of the hostages they had been holding in a cave hours before Joint Special Operations Com- mand presented their rescue plan to the Pentagon for ap- proval. Intelligence officials, however, believed Mr. Somers, at that point, hadn’t been moved and remained in the cave, U.S. officials said. A team of American and Ye- meni commandos conducted the rescue raid on a hillside cave in Yemen early on Nov. 25. The commandos ultimately Please turn to page A14 By Julian E. Barnes, Adam Entous and Carol E. Lee Timing of U.S. Raid InYemen Debated Ride-sharing service Uber Technologies Inc. said Thursday a new round of funding valued it at $41 billion, a bet by some of the world’s top investors the firm can sustain a breakneck global expansion pace despite fierce challenges from regulators and taxi companies. The San Francisco-based com- pany collected $1.2 billion that enables it to expand its work- force, lure new drivers, test a delivery service and subsidize prices in some of the 250 cities around the world where it oper- ates. The company has raised eight times as much as its clos- est ride-sharing rival, Lyft Inc. The funding is a vote of confi- dence in Travis Kalanick, Uber’s co-founder and chief executive whose brash personality has courted controversy. A recent privacy scandal stirred by one of Mr. Kalanick’s deputies appeared not to faze investors focused on Uber’s business prospects. Uber is now valued at $41.2 billion, easily the highest for any private startup now backed by venture capitalists, and above the market capitalizations of publicly traded companies in- cluding Delta Air Lines Inc., Charles Schwab Corp., Sales- force.com Inc. and Kraft Foods Group Inc. Now, the five-year-old com- pany must prove it can turn a mobile app for hailing a ride into a significant and profitable global business. Its app, which lets people hail a car from pro- fessional or nonprofessional drivers with a few clicks and a credit card, has become a part of daily life in cities from Anchor- age to Shenzhen, China. Some of that cash will go into Please turn to page A4 By Douglas MacMillan, Sam Schechner and Lisa Fleisher Investors Push Uber’s Valuation Past $40 Billion Putin Is Defiant on Ukraine, Laying Blame on the West Yuri Kochetkov/European Pressphoto Agency Tom Telford’s stomach ached. The New York City teacher had been drinking cup after cup of coffee as he labored to finish year-end grading and coach his high-school baseball team through the playoffs. He worried he might have an ulcer. When school let out, though, Mr. Telford looked forward to relaxing on a 25th anniversary cruise with his wife. But once in the Caribbean, he strug- gled to swim and climbing from one deck to another exhausted him. Back at home, he collapsed while running a TV cable in his bedroom. His family doctor told him he had lost two pints of blood. Further tests revealed a tumor the size of BY RON WINSLOW EARLY PROMISE Super-Survivors Fuel Cancer Hope BANGKOK—On most Thursday afternoons, Thai filmmaker Chal- ermchatri Yukol would normally be putting the finishing touches on his new zombie flick. Or he might be adding some more de- tails to the set for a post-apoca- lyptic submarine drama he is de- veloping in his backyard. This week, he is working on something rather different: a pa- triotic film ordered up by Thai- land’s military leaders, called “Thai Pride.” “Some people are going to see it as a propaganda film. It is paid for by the government,” shrugged Mr. Chalermchatri, who, like many other 29-year-old Thais, routinely Please turn to page A8 BY JAMES HOOKWAY Thai Director Trades Zombies For Patriotism i i i Hipster Filmmakers Hired for Junta’s ‘Pride’ Project a quarter on his small intestine. He had surgery at Memorial Sloan Kettering Cancer Center, followed by months of chemotherapy. But the disease spread to his liver and kidneys. The diagnosis: Stage 4 mel- anoma, a skin cancer typically fatal within a year. “Death is not an option,” he told his doctor. Nine years later, against all odds, Mr. Telford is still alive. What saved him was an experimental im- munotherapy drug—a medication that unleashes the body’s own immune system to attack cancer. When his tumors began melting away more than eight years ago, Mr. Telford’s good fortune was largely an anomaly amid a mostly dreary landscape for advanced cancer. But his remarkable survival Please turn to page A10 STATE OF THE FEDERATION: Ukrainian separatists watch the Russian leader’s speech Thursday accusing the West of a ‘containment’ policy. A7 126% in six months 300% 18 months 150% 28 months The Wall Street Journal Source: Dow Jones VentureSource $0 $10 $20 $30 $40 billion Uber Airbnb Dropbox Square Pinterest Startup Surge Valuations for Uber and other venture-backed companies have jumped in funding rounds this year. Latest valuation Previous valuation 85% 25 months 32% seven months Police departments around the country are racing to de- velop new training rules on the use of force, a response that has gained urgency amid scrutiny from the U.S. Justice Department and an emerging consensus that law-enforcement practices need to be reviewed and revamped. In many cases, departments are grappling with how to pre- vent encounters between police and citizens from escalating into deadly ones, especially with mi- norities, as was the case in two deaths that have sparked nation- wide civil-rights protests. Those protests continued Thursday with demonstrators gathering and chanting for change in New York, Washington, and else- where. Over the past 10 days, sepa- rate grand juries decided not to indict white police officers in the deaths of unarmed black men. In Ferguson, Mo., former officer Darren Wilson wasn’t indicted in the fatal August shooting of Michael Brown, and New York City officer Daniel Pantaleo wasn’t indicted in the July death of Eric Garner following an ap- parent chokehold. On Thursday, Attorney Gen- eral Eric Holder said a Justice Department probe had con- cluded the Cleveland Division of Police has a pattern of using ex- cessive force, both in firing weapons and in using nondeadly techniques. Cleveland officials agreed to an outside monitor to improve training and practices, officials said. A bipartisan coalition of law- makers said Congress should ex- amine police tactics and the criminal-justice system, a mo- ment that unites Democrats with the libertarian wing of the Re- publican Party, which in particu- lar has emerged as critical of law enforcement. “Clearly both of these are seri- Please turn to page A6 By Pervaiz Shallwani, Zusha Elinson and Gary Fields Police Move to Revamp Tactics Departments Rethink Training Amid Wave of Protests and Federal Scrutiny Protests spread nationally...... A6 Limits on overseeing police.... A6 C M Y K Composite Composite MAGENTA CYAN BLACK P2JW339000-6-A00100-1--------XA CL,CN,CX,DL,DM,DX,EE,EU,FL,HO,KC,MW,NC,NE,NY,PH,PN,RM,SA,SC,SL,SW,TU,WB,WE BG,BM,BP,CC,CH,CK,CP,CT,DN,DR,FW,HL,HW,KS,LA,LG,LK,MI,ML,NM,PA,PI,PV,TD,TS,UT,WO P2JW339000-6-A00100-1--------XA
