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

The Wall Street Journal
Good morning, and a very happy New Year from all of us at The Wall Street Journal
The Persian Gulf
Tensions on both sides of the Persian Gulf are as thorny as ever. Bahrain severed diplomatic ties with Iran on Monday and yesterday Saudi Arabia cut off diplomatic relations with Iran, giving Iranian diplomats 48 hours to leave the country. The execution in Saudi Arabia of a Shiite dissident has provoked a fresh conflict. The death of Nemer al-Nemer—killed as part of a mass execution of 47 prisoners on Saturday—inflamed sectarian tensions in a region already brimming with conflict. The unrest raised alarm in Western capitals about growing hostilities in the regional battle for influence between the Sunni kingdom of Saudi Arabia and Iran, the dominant Shiite power in the Middle East. The sudden upheaval has also saddled the Obama administration with unexpected new complications in what was already a maelstrom for its Middle East policies.
A Narrow Escape
While he is known publicly for his financial success and wealth, Donald Trump was in deep financial trouble in the 1990s. Through bank deals and other maneuvers, he narrowly survived. Our story looking at how he battled through his predicament offers insights into a would-be president dealing with crisis. Meanwhile, across the political spectrum, presidential candidates say faster economic growth is crucial to giving middle-class families a raise, but they disagree sharply about how to achieve it. A flurry of events is planned before voting in the presidential primaries begins next month, with Florida Sen. Marco Rubio casting himself as an outsider and former President Bill Clinton taking a more public role in his wife’s campaign.
Out of Steam
Tougher private fundraising conditions could make it more difficult for startups to avoid the IPO market in 2016 if they need to raise money. And those deals, investors and bankers say, could face a chilly reception. China’s tech sector is also expected to face tougher sledding in 2016 as companies confront high expectations from investors. Meanwhile, tech companies and media titans are developing content for virtual reality headsets, which is expected to be one of the main draws this week at the Consumer Electronics Show in Las Vegas. As this wave of new virtual-reality devices and content hit the market, some people wonder what will happen if the technology gets too realistic.
A Murky Crystal Ball
Some see 2015 as a year full of bad omens. Oil prices capped a second year as one of the worst-performing commodities. U.S. stocks had their worst annual performance since 2008. As the disappointment extended to emerging markets and junk bonds, investors are approaching 2016 with low expectations. While large gains were common as markets recovered in the years after the 2008 financial crisis, many investors say such returns are growing harder to come by, and expect slim gains at best this year. And things are off to a bad start this morning. Asian markets tumbled on the first day of action in 2016, with declines so steep in mainland China that authorities halted trading for the rest of the day. European shares also fell sharply, led by the basic resources and auto sectors, both of which are sensitive to Chinese demand.
Families Turn to Ministries for Health Costs
That Was Painless
Christian families are increasingly turning to health sharing ministries as an alternative to traditional health insurance after the Affordable Care Act passed. But the programs can bring risks. Photo/Video: Madeline Marshall

U.S. Begins Immigration Crackdown on Central Americans

Oregon Armed Protesters’ Leader Says They Will Defend Occupied Government Building if Necessary

Earthquake Hits India’s Northeast, Leaves Six Dead

Iraq Officials Face Monumental Task of Rebuilding Ramadi

‘Star Wars’ Is Set for Another Milestone This Week

Berlin Develops as Business Hub

Oil-Rich but Cash-Dry? This Banker Gets the Call

Ex-SEC Official Gallagher Joins Regulatory Consultant
$11.1 billion
Last year’s ticket sales for movies in the U.S. and Canada, up 7% from the previous year and surpassing the record of $10.92 billion set in 2013, according to Rentrak.
They use other people, too. What am I going to do? I have to say what I have to say.
In an interview that aired Sunday on CBS, Republican presidential front-runner Donald Trump on his words and image being used in terrorist recruiting videos.
Going back to our story above, what are your thoughts on the tensions between Saudi Arabia and Iran? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Khadeeja Safdar
Responding to data showing that tax rates on the wealthiest Americans rose to their highest average since the 1990s, Joseph P. Porter of Missouri wrote: “On the one hand, I’m surprised the average rate is as high as it is. On the other hand, I’m unhappy that it’s not closer to the 39% maximum tax rate. Maybe we should be happy with what we can get from them.” Carol Roberts of Colorado said, “It doesn’t matter what the tax rates are on the wealthy...there are so many ways to avoid taxes — shelters, trusts, hedge fund rates, off shore...they don’t really pay that rate. Same for corporations.” But also from Colorado, Jay Davidson wrote: “No country can tax their way out of debt. America lives on ‘borrowed’ time; our nation cannot survive long without severe reductions in federal spending. I call it the politics of greed, when more than 80% of tax revenue comes from 10% of citizens, and certain parties want even more.”
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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