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

The Wall Street Journal
Good morning,
Another Giant Step
The front-runners in their respective parties moved closer to securing their presidential nominations Tuesday. Donald Trump won the Republican primaries in Florida, North Carolina and Illinois, scoring his biggest prize so far and driving Florida Sen. Marco Rubio out of the race. Texas Sen. Ted Cruz battled Mr. Trump in a tight race in Missouri, while Ohio Gov. John Kasich prevailed in his home state and notched his first victory of the campaign. The results make it a little harder for Mr. Trump to earn the 1,237 delegates he needs to claim the nomination but he retains a commanding lead over his nearest rival. In the Democratic race, Hillary Clinton took full command of a contest that has been far more competitive than expected, winning critical primaries in the industrial Midwest and completing her sweep of the South. Mrs. Clinton’s path to the nomination now is clearer than Mr. Trump’s and will probably be less bruising, writes our Washington bureau chief Gerald F. Seib.
Bitter Pill
Valeant’s woes have evolved into a full-fledged Wall Street identity crisis. Investors punished the drugmaker yesterday after it said that it won’t meet its earnings goals, may default on its debt and is reviewing its strategy. Shares dropped 51%, deepening a downward spiral that began last fall when investors began questioning the company’s accounting. On a much anticipated conference call, Chief Executive Michael Pearson, back from a two-month medical leave, shocked shareholders with news that the company can’t say for sure when audited financials for 2015 will be ready to file with the SEC. Failure to file the already delayed results could set off a chain of events that could leave Valeant in breach of bank-loan and debt covenants, which could spark a default and raise the prospect of a bankruptcy filing.
Slippery Slope
A Brazilian senator has accused the country’s president of playing a role in a graft ring centered on the state oil company, the first time Dilma Rousseff has been directly linked to a vast corruption scandal threatening to topple her government. In plea-bargain testimony, the senator, a prominent member of Ms. Rousseff’s Workers’ Party, said that the president not only had knowledge of bid rigging and bribery at state-run Petrobras, but also worked with her inner circle to suppress a sprawling criminal investigation into the scheme that has rocked the highest levels of the nation’s business and government. Meanwhile, Brazil’s polarizing and powerful former president, Luiz Inácio Lula da Silva, is negotiating a return to government, in a pact that could give him legal protection against prosecution on corruption charges and lend support to his embattled successor.
Are you a Twitter quitter? Not only is the company failing to attract new users, but it reported a decline in monthly active users last quarter. Still, Twitter deserves a second chance, writes our Personal Technology columnist Joanna Stern. Her tips for improving your experience include thinking of it as more of a news network than a social one, and using “Twitter Moments,” which surface the most current and popular news stories. Turning on the “Best Tweets” setting will help customize your experience. Faced with its recent challenges, Twitter has been desperately releasing these features to address users’ issues. But the company has a long way to go in fixing its biggest problem: explaining why you’d add it to your already packed social media repertoire of Facebook, Instagram and LinkedIn.
Taking Stock
Developing on London Stock Exchange Group and Deutsche Börse have agreed this morning to an all-share merger, creating Europe’s biggest securities-markets operator worth more than $30 billion. The announcement puts pressure on U.S. rival Intercontinental Exchange, the New York Stock Exchange operator that has said it was considering making an offer for LSE.
Headed to Havana
That Was Painless
The Obama administration announced some of the most extensive changes in decades to rules on U.S.-Cuba trade, financial transactions and travel, including a provision that eases the long-standing ban on American tourists visiting the country.

Obama Administration Withdraws Atlantic Oil and Gas Drilling Proposal

Pennsylvania Attorney General Files Charges Against Three Retired Priests

Kerry, Putin to Discuss Syria as Russia Seeks to Bolster Influence

Turkey Says Syrian Kurdish Militants Trained Ankara Bomber

In Beefing Up iCloud Security, Apple Weighs Privacy Against Convenience

Chipotle Weighs Stepping Back From Some Food-Safety Changes

Trading at Banks Turns Grim

Venture Capital’s Answer to High-Priced Housing: Dorms for Grown Ups
$101 million
The sum stolen from Bangladesh’s account at the New York Fed by someone using official codes over a recent weekend. Authorities in four countries are still piecing together what happened.
We worked as hard as we could. America is in the middle of a political storm, a real tsunami.
Florida Sen. Marco Rubio as he suspended his campaign for president after losing the GOP primary in his home state to Donald Trump.
What are your thoughts on last night’s presidential primary results? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to yesterday’s question on Russia beginning to withdraw from Syria, Michael Lane of Florida commented: “Something to be learned here. First, Putin came in with force and turned the tide quickly. Second, he gets out without a pre-notification months or years in advance. Third, Putin demonstrates Russia is a force that can and will act independently—no coalition required. Like him or not, you have to respect the tactics.” Marty Leamy of Illinois wrote: “It’s wonderful news that Russia is withdrawing all of its military forces from Syria. It seems this move caught the U.S. by complete surprise. How can we possibly make peace progress in the Middle East when our own diplomats don’t know what an important player like Russia is doing?” And David Baldner of Texas said: “My first thought was to picture the last U.S. president walking in pride under a banner stating ‘Mission Accomplished.’”
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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