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

The Wall Street Journal
Good morning,
Losing the Currency War
It wasn’t that long ago that even the hint of action from most of the major central banks had a powerful effect on their currencies. Not so today. Efforts by many of the world’s central banks to weaken their currencies are failing. Markets have ignored the Bank of Japan’s hints at its monetary-policy meeting this week of more rate cuts to come, and the European Central Bank is facing similar problems. This disconnect could produce more volatility as investors find it harder to predict how markets will react to policy changes. Meanwhile, the Dow Jones Industrial Average turned positive for the year yesterday and U.S. crude oil settled above $40 a barrel, rebounding after a rough start to 2016. Some investors said concerns about slowing global growth have eased in recent weeks, while commodity prices stabilized and the U.S. economy showed signs of improvement.
Brazil on the Brink
Relations between Brazil’s government and the country’s corruption investigators plumbed new depths yesterday. Amid a fresh round of street protests, former President Luiz Inácio Lula da Silva was installed as the chief of staff for President Dilma Rousseff, helping to shield him from a sprawling graft investigation centered on the state oil company Petrobras. His political strength could also help Ms. Rousseff stave off impeachment proceedings against her, which were restarted yesterday. But within hours, a judge responding to a lawyer’s petition issued an order to block the appointment. Overnight, another judge, Sérgio Moro, who is overseeing the broad corruption case dubbed Operation Car Wash, released recordings from a wiretap of Mr. da Silva discussing his rapid appointment with the president, fueling the impression that the move was aimed at mutual self-preservation.
China U
The huge wave of Chinese students entering American higher education seems beneficial for both sides. The students are clamoring for American credentials, while U.S. schools want their tuition dollars. But on the ground, American campuses are struggling to absorb the rapid and growing influx. Teachers bluntly say a significant portion of international students are ill prepared for an American college education, and resent having to amend their lectures as a result. The unhappiness appears to be mutual. Chinese students are finding themselves separated from their American peers due to their high numbers and language and cultural barriers. One student who came from Beijing to study business at Oregon State University said, “I didn’t expect to go abroad and take classes with so many Chinese people.” See how international students are changing U.S. colleges.
Laughing Stock
Who will be crowned the late-night king or queen of this presidential race? Since the last election there has been a radical changing of the guard among the late-night talk shows. Gone are Jay Leno and David Letterman, and it’s the first presidential scrum without Jon Stewart on “The Daily Show.” Election season is a high-pressure proving ground for the late-night newcomers. The stakes are financial as well as cultural, with revenue from campaign ads pouring in. Relative newcomers Samantha Bee and John Oliver have already made headway, even as the network triad of Jimmy Fallon, Jimmy Kimmel and Stephen Colbert lead in the ratings. There is, of course, no shortage of material. In fact, the challenge for comics this time around may be competing with the real-life behavior of the politicians they lampoon.
SeaWorld Flips Stance on Orcas
That Was Painless
SeaWorld said it would stop breeding killer whales, and end theatrical shows featuring them, as the company battles declining attendance and changing public opinion.

Supreme Court to Consider Compromise to Health-Law’s Contraception Rules

Justice Department Policing Tactic Guarded as ‘Classified’

U.S. Ties Bring No Quick Relief to Cuba’s Dissidents

Putin Backs Assad, Says Russian Warplanes Could Redeploy to Syria in Hours

Energy Bust Powers Down Heavy-Equipment Sales

Virtual Pop Stars Set to Take the Stage

Bad Plot: Zach Galifianakis, Kristen Wiig and a $38.5 Million Loan Stuck in Bankruptcy

From the Fed to the Philippines: Bangladesh’s Stolen Money Trail
The number of barrels of oil a day unaccounted for in 2015 by the International Energy Agency, the energy monitor that puts together data on crude supply and demand. Where these barrels ended up, or if they even existed, is key to an oil market that remains under pressure from the glut in crude.
There are things that a campaign won’t want to do that need to get done...They’ll need a lot of surrogates to say things you don’t want the candidate saying.
David Brock, the founder of both Correct the Record and American Bridge, on pro-Democratic groups launching an orchestrated bid to weaken GOP presidential front-runner Donald Trump ahead of a potential November showdown with Hillary Clinton, while her campaign readies a strategy of engaging the billionaire businessman on issues without trading insults.
Going back to our story above, what are your thoughts on SeaWorld saying it would stop breeding killer whales? 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 the complicated politics of hating Duke University, David W. Berson of Ohio wrote: “As a Wolverine (in Columbus), there are three great Satans in the world: Ohio State, Notre Dame…and Duke.” Dave Moxley of Canada shared: “Duke fans seemed to have missed the class on good sportsmanship! We need to separate the fans from the grads—many of my friends are Duke grads and exhibit none of these character flaws.” But Randy Miller of Oregon commented: “The problem for Duke basketball is that they have worked hard, are successful, and have one of the greatest coaches of all time. Jealous people often hate the success of others.” And Diane Brighton of California asked: “Why single out Duke? Californians have hated USC with the same fervor.”
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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