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Falling Property PricesHint at Trouble on the Farm
GROWING WORRIES
HealthPlansLimited forMany
SHIRAZ, Iran—Iran’s economy,though still crippled by sanctions,has begun to improve as a newpresident and a nuclear accordwith the West stabilize its cur-rency and raise confidence, sayeconomists and merchants hereand abroad.
Residents of this ancient tradehub say they are encouraged bythe new administration’s eco-nomic policies and the prospectof a lifting of international sanc-tions in the coming years. Suchsentiments have helped stabilizethe volatile Iranian rial, which inturn has eased rising prices andspurred an uptick in informaltrade, economists say.
Shiraz, the heartland of Iran’sPersian identity, has been partic-ularly hard-hit by sanctions. Itsonce-plentiful international tour-ists, who came to visit the nearby
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What’sNews
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World-Widen The Senate approved adebt-limit suspension after GOPleaders, in a preliminary vote,moved to rescue the bill. A4n A rollback of a recent pen-sion reduction for youngermilitary retirees overwhelm-ingly passed in the Senate. A4nSome 3.3million Americanssigned up for health insurancevia exchanges as of January,but enrollment from youngpeople remained tepid. A6nMany people in poorercounties have few choices ofinsurers and face high premi-ums through the exchanges. A1nScientists scored a break-through in nuclear fusion, re-kindling hopes for a source ofcheap and boundless energy.A2n Iran’s economy has begun toimprove as a new president andnuclear accord stabilize its cur-rency and raise confidence.A1n The U.N. resumed its aidmission to Homs, Syria, aftermortar and sniper fire inter-rupted weekend efforts. A7nProtests in Venezuela calledby opponents of President Ma-duro turned violent, leaving atleast three people dead. A9nThe U.S. Embassy in Cairosaid an Egyptian employee hasbeen held by authorities with-out charges since Jan. 25. A7nA Ukraine judgewho sen-tenced several antigovernmentprotesters to house arrestdied of gunshot wounds. A9nNewOrleans ex-MayorNagin was convicted of briberyand corruption in the after-math of Hurricane Katrina. A3nDied: Sid Caesar, 91, king ofTV comedy in the 1950s. A5
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Comcast has agreed to buyTimeWarner Cable for
$45 billion in stock, a deal thatwould combine the nation’stwo largest cable operators. A1n Farmland prices in theU.S. are flattening or slippingafter a long boom as cornand soybean prices declineand interest rates rise. A1nGoogle has imposed strictcurbs on access for mobile-de-vice makers despite claims itsAndroid system is open. B1n Dropbox plans to nameGoogle veteran Woodside asthe online storage firm’s firstchief operating officer. B1n Avon is in advanced talkswith federal authorities tosettle a bribery probe that hasdogged the firm for years. B1nThe Dow slipped 30.83points to 15963.94 after fourdays of gains. The S&P 500eased; the Nasdaq edged up. C4n Apple is talking to firmsabout launching a revampedset-top box, an apparent scal-ing back of its TV plans. B6n Data brokers are comingunder scrutiny for marketingprofiles of financially troubledconsumers to lenders. C1nThe U.K. economywill grow3.4% this year, the central bankforecast, but it warned of a reli-ance on consumer spending.A8n Yellen’s husband sits onthe board of a center fundedby UBS, a bank poised to comeunder closer Fed oversight. C1n Toyota will recall 1.9 mil-lion of its Prius hybrid vehi-cles to fix faulty software inthe hybrid system. B3
Business&Finance
BY BILL SPINDLE
EconomySteadiesIn Iran asStrainsEase
Hundreds of thousands ofAmericans in poorer countieshave few choices of health insur-ers and face high premiumsthrough the online exchangescreated by the health-care law,according to an analysis by TheWall Street Journal of offeringsin 36 states.
Consumers in 515 counties,spread across 15 states, have onlyone insurer selling coveragethrough the online marketplaces,
the Journal found. In more than80% of those counties, the soleinsurer is a local Blue Cross &Blue Shield plan. Residents ofwealthier, more populated coun-ties in the U.S. receive lower-priced choices than those livingin counties with a single insurer.
The White House has saidbroad participation in the ex-changes would help lowerhealth-care costs. On Wednes-day, the Obama administrationreported about 3.3 million peo-ple have signed up for coveragethrough the online marketplace
by January, an increase of morethan one million since December,but still with fewer youngerAmericans than needed to keepdown premiums.
Higher participation ratesamong young adults, as much as40%, is seen as essential to bal-ance out the higher costs of cov-ering older people for insurersthat are already limiting thecounties where they offer cover-age.
The average price for a 50-year-old American to obtain thecheapest midlevel “silver plan”
through HealthCare.gov—themarketplace operated by thefederal government—was $406in counties with one health in-
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BY TIMOTHY W. MARTINAND CHRISTOPHER WEAVER
Broker Pat Karst thought the farm being auc-tioned late last month would be scooped up. The 98-acre plot was of decent quality, and the volunteerfire station in Arlington, Ind., where his firm washolding the sale, was packed with farmers.
Instead, the evening ended with the latest in aspate of failed auctions, after the top bidderdropped out far below the asking price. “The moralof the story is: unrealistic expectations from sellersand more caution on the side of the buyer,” said Mr.Karst, who acknowledged he, too, thought the prop-erty would fetch a higher price than offered.
The flop reflects a broader turning point in oneof the U.S.’s biggest recent asset booms. From 2009to mid-2013, average prices for agricultural land in
the U.S. rose by half, while in Iowa, Nebraska andsome other Midwest farm states, prices more thandoubled, according to U.S. Department of Agricul-ture data from last August. That helped fuel eco-nomic prosperity across the Farm Belt while stokingfears about a possible bubble.
Now there is mounting evidence the boom is fiz-zling out. Farmland prices in Iowa fell 3% over thesecond half of last year, and those in Nebraska fell1%, according to estimates from the Farm CreditServices of America, an Omaha, Neb., lender thatcalculates weighted averages based on land quality.Reports from U.S. Federal Reserve Banks across theMidwest late last year showed prices flattening orslipping from the previous quarter. A monthly sur-vey of Midwestern lenders by Omaha-based Creigh-
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BY JESSE NEWMAN AND JACOB BUNGE
And the Gold Medal for Winter Weather Goes to Atlanta
ROLE REVERSAL: A jogger in Sochi on Wednesday, left, enjoys warm weather that left some Olympic competitors complaining of slushyconditions. Meanwhile, plows worked in Atlanta, right, as a major winter storm swept across the South and headed for mid-Atlantic states. A3, D6
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ssociatedPress
WELLINGTON, New Zea-land—With its clientele of bohe-mian students and shaven-headed gym rats, the TattooedHeart studio is an unlikely ba-rometer of major political is-sues of the day. Most peoplecome here to dis-cuss elaboratebody-art designs,ranging from anAmerican baldeagle to Bengaltigers.
But when itcomes to the fateof New Zealand’snational flag,this tattoo studio, near the cen-ter of Auckland, New Zealand’sbiggest city, is signaling changeis on its way. Demand for tat-toos of New Zealand’s flag is inthe doldrums. In contrast, astylized fern leaf in silver—animage that is emblematic of
New Zealand and used by sportsteams including the country’sall-conquering All Blacks rugbyteam—is gaining in popularity.
“Lots more people ask for aSilver Fern than flags,” saysAdam Craft, a veteran tattooartist whose designs feature onthe arms, legs and torsos of
scores of NewZealanders whostop by eachyear. “Peoplepossibly feel thatit representsNew Zealandbetter.”
New Zealandis once again de-bating a change
to its national flag after thecountry’s prime minister, JohnKey, raised the possibility re-cently of holding a referendumon a new design and promisedto discuss the issue with seniorministers. Mr. Key said the ref-
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BY REBECCA HOWARD
New Zealand ContemplatesA Banner Year for Change
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Is Its Flag a Symbol of Tradition or Too SimilarTo theOneFromOz?HowAbout a Silver Fern?
New Zealand flag
Venezuelan Protests Turn Violent
At least three people died as gunfire erupted during a protest in Caracasagainst the Nicolás Maduro government. Above, an antigovernmentdemonstrator draped in a Venezuelan flag passes riot police. A9, C1
Reuters
Inside Sign-ups increase, but young
enrollment still lags.............. A6 Judges weigh Notre Dame
contraception case................ A6 Compare and share rates
from state insuranceexchanges at WSJ.com.
Comcast Corp. has agreed tobuy Time Warner Cable for $45billion in stock, in a deal thatwould combine the nation’s twobiggest cable operators, accord-ing to people familiar with thesituation.
The boards of both companieshave approved the transaction,which will be announced Thurs-day morning, one of the peoplesaid.
With the proposed deal, Com-cast almost certainly ends aneight-month takeover battle forTWC waged by fourth-largest ca-ble operator Charter Communica-tions Inc. and its biggest share-holder, Liberty Media Corp.,whose chairman is cable pioneerJohn Malone.
By negotiating the deal, Com-cast Chief Executive Brian Rob-erts ensures his dominance of theU.S. cable industry will be main-tained. But the transaction wouldface lengthy regulatory review.
Charter’s pursuit of TWC,which began after Liberty boughta 27% stake in Charter about ayear ago, had raised the possibil-ity that Mr. Malone wouldemerge as a rival to Mr. Roberts.Mr. Malone once led the U.S. ca-ble industry but sold his previouscable firm, Tele-Communications
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BY SHALINI RAMACHANDRANAND DANA CIMILLUCA
ComcastIn DealTo BuyTWC$45 Billion StockTransaction WouldTie Up Cable Giants
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