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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
The Yuan and Only
In a milestone that underscores China’s growing economic power, the IMF added the Chinese yuan to its basket of reserve-lending currencies. The move, which is designed in part to encourage further economic liberalization by Beijing, may add volatility to China’s trade picture and raise the risk of capital flight later on. People’s Bank of China Vice Governor Yi Gang said the central bank doesn’t see any reason for depreciation, pointing to China’s economic strength and ample foreign-exchange reserves. But the IMF’s decision doesn’t change investors’ dim outlook for the Chinese currency over the coming year. And just as the IMF marks the yuan’s arrival on the world stage, Hong Kong’s use of it is on the decline.
Unlikely Alliance
Coalition leaders struggling to intensify their attack on Islamic State received a welcome boost from the U.K., which appeared set to join France in expanding its air campaign from Iraq to Syria. At the climate summit in Paris, a discussion about security was inevitable. French and U.S. officials said Russia’s military operations had shifted slightly toward ISIS targets in recent days. Since the downing of a Russian warplane, however, state-dominated networks in Russia have lambasted Turkey, painting the Black Sea nation as a hotbed of terrorism and a sponsor of Islamic State. Meanwhile, airstrikes targeted Islamic State’s oil assets, a vital source of revenue for the group.
Capital Shortage
Businesses appear reluctant to step up spending on the basic building blocks of the economy, such as machines, computers and new buildings. A stronger dollar and falling commodity prices are prompting caution among some, while thousands have decided to bolster share prices by spending money on stock buybacks and dividends, rather than plow funds back into facilities and equipment, moves that would boost worker productivity and ultimately wages. Meanwhile, the average amount Americans spent in some key product categories declined on Thanksgiving and Black Friday, as mobile shopping drove smaller orders, and aggressive discounts pushed down prices.
Catch Some Zs
Good sleep isn’t just about how long you sleep. Continuity may be equally important. Our columnist Sumathi Reddy explains why waking up often can cause bad moods and difficulty focusing and thinking. A recent study from Johns Hopkins University School of Medicine found that individuals forced to awaken multiple times during the night showed a greater decline in positive mood than those forced to go to bed later. And in other health news, researchers at New York’s Lenox Hill Hospital are developing new tools to help patients retain critical information to continue the healing process once they get home.
NASA Spacecraft to Fly Into the Sun
That Was Painless
NASA plans to send a spacecraft named Solar Probe Plus closer to the surface of our star than any previous man-made probe has ever been. WSJ’s Monika Auger reports. Photo: JHU/APL

Suspect in Colorado Planned Parenthood Shootings Makes First Court Appearance

‘No Child Left Behind’ Replacement Plan Shifts Power to States on Education

World Leaders in Paris Vow to Overcome Divisions on Climate Change

AirAsia Flight 8501 Crash Caused by System Malfunctions, Pilot Response

Lending Startups Look at Borrowers’ Phone Usage to Assess Creditworthiness

Ethanol Companies Get Boost From U.S. Quotas

Bank of England to Ease Capital Pressure on U.K. Banks

J.P. Morgan Hired Friends, Family of Leaders at 75% of Major Chinese Firms It Took Public in Hong Kong
The cost of a vial of cancer drug Rituxan as paid by the U.S. Medicare program, higher than the $1,527 that Norway’s taxpayer-funded health system paid in the third quarter of 2015. Read our analysis into why U.S. drug prices are among the highest in the world.
Market mechanisms, including carbon pricing, should not impose punitive costs but should instead provide revenues that can be directed toward the deployment of low-emission technology, including CCS.
A spokeswoman for the World Coal Association, an advocacy group for coal producers, on financial incentives to reduce carbon emissions.
What are your thoughts on the spokeswoman’s assertion? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Khadeeja Safdar
On yesterday’s question about Ben Carson’s comments about refugees, Claudia C. Bartz of Wisconsin wrote, “Carson sounds like a Democrat: Things are working well but they would work even better if we had more money. What can he possibly know about U.S. refugee processing? And now he’s an expert because he has been to two refugee camps in Jordan? Why are so many Americans so taken (or taken in) by Carson?” Don Schofield of Florida commented, “Well, it hasn’t taken Dr. Carson long to get with the budget-busting-inside-the-Beltway concept of ‘we have a problem with the program so let’s throw more taxpayer money at it.’ Nope, not long at all. Btw, the program isn’t working…” But Rich Irwin of Ohio said, “I think Ben Carson has a point. The existing program DOES work, it simply needs more money. No system is foolproof, but I think that while we can shut ourselves in, we cannot shut the world out.”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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