2015 04 14 cmyk na 04 - the wall street...
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CM Y K Composite
RussiaLifts BanOn ArmsTo Iran
but it is a choice “between thebitter and more bitter.”
Here and throughout theMiddle East, many Christians,under attack and without theprotection of functioningstates, face difficult choicesamid the region’s roiling sec-tarian conflicts.
Some are taking sides, oth-ers are taking up arms. In Iraqand Syria, for example, Chris-tians fight alongside Kurdsagainst Islamic State, eventhough some Christians accusethe Kurds of seeking to one dayincorporate them and theirland into Kurdish-controlledterritories.
While both Christians andMuslims suffer from the vio-lent extremism engulfing the
region, the stakes and consequences differ, saidthe Rev. Fadi Daou, a Lebanese Maronite Catho-lic priest and professor of Christian theology.
In Lebanon and Iraq, Shiite Muslims rely onPlease see MIDEAST page A12
AL-QAA, Lebanon—Threedecades ago, plainclothes Syr-ian agents went door to doorin this border village seekingout young Christian men, whowere abducted and killed in anotorious chapter of Lebanon’s15-year civil war.
The village’s nearly 2,000Christians now find themselvessiding with the same Syrian re-gime they blame for whatmany call the 1978 massacre.
That is because a few milesaway, hundreds of Islamist ex-tremists tied to al Qaeda and Is-lamic State stalk the porous bor-der region separating Lebanonand Syria. Standing between themilitants and the village are Leb-anese troops aided by the Iran-backed LebaneseShiite militia Hezbollah, whose men are also fight-ing for Syrian President Bashar al-Assad.
“Yes, I prefer the Syrian regime over these ter-rorist groups,” a 45-year-old Al-Qaa resident said,
BY SAM DAGHERLeaving LebanonPercentage of Lebanon'spopulation that is Christian
THEWALL STREET JOURNAL.Source: World Christian Database
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0
20
40
60
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1900 ’50 2000
201534.2%
Federal trademark officials inAlexandria, Va., recently receivedan unusual package: a hand-deliv-ered parcel containing vials of aclear liquid that smelled of or-anges.
The sender wasn’t a crank. Itwas a corporate trademark lawyerrepresenting Flotek IndustriesInc., a Texas producer of hydrau-lic-fracturing fluids used to ex-tract oil and gas from rocks deepin the earth.
The little bottles in the boxwere samples of a branding brain-storm that might be called eau de
BY JACOB GERSHMAN
Companies Say Trademarks for Scents Make Sensei i i
Others sniff at notion that smells deserve protected status; eau de fracking
fracking: a specially de-veloped scent that issupposed to makeFlotek’s product smelllike a glass of OJ.Flotek says its custom-ers have come to asso-ciate the orange scentwith its line of frackingchemicals and wantsthe U.S. Patent andTrademark Office toregister it as a trademark.
Flotek lawyer Douglas Wolfsaid it was wiser to deliver the ap-plication by messenger than sendit in the U.S. mail. “You can imag-ine the security concerns with
three vials of liquid in abox,” he said.
Flotek is one of asmall number of com-panies trying to trade-mark their efforts tograb customers by thenose. A U.S. ukulelecompany won trade-mark protection for ascent that—accordingto its application—
lends its little stringed instru-ments a distinctive piña coladaaroma.
Last fall, Verizon Wireless, thenation’s largest cellphone carrier,
Please see SCENTS page A12
Sudan Votes Amid Boycott by Opposition Parties
MOSA
’ABEL
SHAMY/ASS
OCIAT
EDPR
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BALLOT BOX: A woman casts her vote Monday on the first day of a presidential election expected to extend the rule of Omar al-Bashir. A10
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CONTENTSArts in Review.......... D7Business News. B2-4,7CFO Journal................. B5Global Finance............ C3Health & Wellness D2-4Heard on the Street C8
In the Markets........... C4Opinion.................. A13-15Sports.............................. D8Technology................... B6U.S. News................. A2-6Weather Watch........ B8World News.......... A8-11
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What’sNews
Sen. Rubio launched hiscampaign for the presidentialnomination, casting himselfas able to unite tea-party andestablishment Republicans. A1 Russia lifted its ban onthe delivery of a powerfulmissile air-defense system toIran, stoking sharp criticismfrom the U.S. and Israel. A1Four ex-Blackwater guardswere handed long jail sentencesfor a 2007 Baghdad shootingthat left 17 Iraqis dead. A4The former chief of China’sbiggestoil firmwas triedonbrib-ery charges. Prosecutors allegedties to the ex-security czar.A8 A white reserve deputy inOklahoma was charged withmanslaughter for killing a blackman after apparently confusinghis revolver and stun gun. A2 The Interior Departmentproposed regulations aimedat preventing explosions atoffshore drilling rigs. A2A Georgia judge gave 10 ed-ucators convicted in a cheat-ing scandal a final chance tonegotiate sentencing deals. A2 South Korea dismissed aU.S. claim that North Koreacan launch a nuclear weaponthat could threaten the U.S. A8The FDAwarned consumersnot to use amuscle-growthsupplement that it said hasbeen linked to liver damage. A6 Sudan’s presidential votebegan amid a boycott andcrackdown on media. A10 Died: Günter Grass, 87, No-bel Prize-winning writer. A9
Some European bankshave been forced to pay
money to borrowers, one ofmany challenges caused bynegative interest rates. A1P&G appears to be layingthe groundwork for CEO Lafleyto step down as soon as thissummer. Veteran David Tayloris expected to succeed him. B1 Citigroup CEO Corbatshuffled top management,appointing a clear No. 2 andnaming a rising star to headthe bank’s consumer unit. C1 GE is losing a rich sourceof tax breaks in shedding itsbanking business. The com-pany’s effective tax rate coulddouble to 20% or more. B1 The U.S. budget gap wid-ened slightly in the first halfof fiscal 2015, ending a streakof sustained declines. A2 Boeing and Lockheed plana new rocket with reusableengines, part of an effort tocounter rival SpaceX. B2 U.S. stocks edged lower inlight trading ahead of earn-ings reports. The Dow eased80.61 points to 17977. 04. C4 Large pension plans holdmore bonds than stocks forthe first time in over a de-cade, driving down yields. B1 FormerMassachusettsGov. Patrick has joined BainCapital to run a new unit. C3 Avon postponed an inves-tor meeting where it was tooutline plans to turn aroundthe struggling company. B2Amazon and HarperCollinsreached agreement on a pactfor print and digital titles. B4
Business&Finance
World-Wide
OPINION | A13, A15
The 150th Anniversary of Lincoln’s Death
James L. Swanson and Michael F. Bishop on a president’sleadership. William McGurn: Stealing Lincoln’s core beliefs.
PERSONAL JOURNAL | D1
Better ChancesFor Preemies
Parents care for their pretermnewborns in intensive care, ina test that upends hospitals’
traditional approach.
Tumbling interest rates in Eu-rope have put some banks in aninconceivable position: owingmoney on loans to borrowers.
At least one Spanish bank,Bankinter SA, has been payingsome customers interest on mort-gages by deducting that amountfrom the principal the borrowerowes.
The problem is just one ofmany challenges caused by inter-est rates falling below zero,
By Patricia Kowsmannin Lisbon and JeannetteNeumann in Madrid
MIDEAST’S CHRISTIANSTRAPPED BY EXTREMISTSUnder attack and with few options, many forge alliances with former foes
The Kremlin lifted its self-im-posed ban on the delivery of apowerful missile air-defense sys-tem to Iran on Monday, stokingsharp criticism from the WhiteHouse and Israel and castingfresh doubt on the internationaleffort to curb Tehran’s nuclearprogram.
U.S. lawmakers seized onMoscow’s announcement Mon-day to warn Russia was among ahost of foreign countries usingthe prospect of a nuclear deal tobegin seeking out lucrative busi-ness deals that could bolsterIran’s military and economy.
Any delivery of an air-defensesystem would complicate air-strikes on Iranian nuclear facili-ties by Israel or the U.S. shouldthe diplomatic track fail.
The U.S. Senate is set to votethis week on legislation thatwould provide Congress with thepower to approve, amend or killany agreement that seeks tocurb Iran’s nuclear program inexchange for a lifting of interna-tional sanctions.
Supporters of the bill, Repub-lican and Democrat, said Russia’slifting of its ban on the S-300surface-to-air missile systemcould be just the beginning ofcountries testing the sanctionsregime and a United Nationsarms embargo on Iran.
“Before a final nuclear deal iseven reached, [Russian Presi-
Please see RUSSIA page A11
By Paul Sonnein Moscow andJay Solomonin Washington
MIAMI—Florida Sen. MarcoRubio launched his campaign forthe Republican presidential nom-ination on Monday, seeking toposition himself as a next-gener-ation leader who can bridge thedivide between the tea party andestablishment wings of the GOP.
BY PATRICK O’CONNOR
Citing his roots as the son ofCuban immigrants, Mr. Rubio, 43years old, is presenting himselfto Republican primary voters asthe candidate best-equipped toconvince the country that con-servative ideas will boost lower-and middle-income Americansstruggling to get a foothold inthe quickly evolving economy.
In a primary bound to drawmore than a dozen candidates,Mr. Rubio stands out for his po-tential to draw voters from manysegments of the party, someonewho can unite the tea-party ac-tivists who helped elect him to
the Senate and a party establish-ment that groomed him beforeand after that race.
His candidacy will test Repub-licans’ appetite to nominate anaspirational figure in the mold ofPresident Barack Obama, a rela-tively new face in the party look-ing to leapfrog other likely can-didates who boast moreexperience, among them his one-time ally, former Florida Gov. JebBush.
Mr. Rubio has become a pro-lific fundraiser, raking in morethan $30.5 million since 2009,according to the nonpartisan
Center for Responsive Politics,which suggests he can bring inthe sums needed to last throughwhat is expected to be a longnominating process. While hedoesn’t have the same deep poolof large-dollar donors that Mr.Bush has already locked up, Mr.Rubio’s early financial backerssay he will have the money tocompete, and his campaign plansto run a much leaner operationthan those of his rivals.
One of the youngest of thelikely GOP candidates, Mr. Rubiois casting himself as the party’s
Please see RUBIO page A4
Rubio Enters Crowded FieldNewGOPcandidatehopes to leapfrogmoreexperienced rivalsincluding former allyBush
known as a negative interest rate.All over Europe, banks are beingcompelled to rebuild computerprograms, update legal docu-ments and redo spreadsheets toaccount for negative rates.
Interest rates have been fallingsharply, in some cases into nega-tive territory, since the EuropeanCentral Bank last year introducedmeasures meant to spur the econ-omy in the eurozone, includingcutting its own deposit rate. TheECB in March also launched a
Please see BANKS page A12
In Odd European Twist,Banks Owe Borrowers
Inside
Gerald F. Seib: Three questionsfor gauging Iran nuclear deal... A4
Heard on the Street: Europeanbond market defies logic......... C8
* * * * * TUESDAY, APRIL 14, 2015 ~ VOL. CCLXV NO. 86 WSJ.com HHHH $3 .00
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