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

The Wall Street Journal
Good morning,
Through the Net
Authorities identified two suicide bombers who hit the airport and subway in Brussels on Tuesday as brothers with criminal pasts, and began to trace a clear line between their plot and the terrorists behind the November killings in Paris. Police are hunting for a third, unidentified man, who they say dropped off explosives at the airport before leaving the scene. Meanwhile, there were more troubling indications of security lapses and intelligence failures. According to Turkish officials, one of the brothers was detained last summer on suspicion of being an Islamic State fighter, but Turkish authorities sent him on the path to freedom after their Belgian counterparts couldn’t establish that he had any link to terror groups. The Brussels attacks illustrate the paradox of hurting Islamic State on the battlefield, writes columnist Yaroslav Trofimov: One consequence of progress on the ground in Syria and Iraq is that trained and battle-hardened foreign fighters from Europe are more likely to head back to home ground. Meanwhile, Salah Abdeslam, the accused Paris attacker who was arrested last Friday, won’t oppose a transfer to France, his lawyer said Thursday. Read the latest updates here.
Swiss Miss
Credit Suisse has staged a new retreat from investment banking, signaling the close of an era for the Swiss bank as one of the few European lenders with serious clout as a Wall Street trading house. The bank’s recently appointed chief executive, Tidjane Thiam, has been forced to revise a strategy launched only five months ago, scrambling to unwind big, high-risk bets he said have been sitting on the investment bank’s books without his knowledge, while slashing thousands of jobs from a beleaguered trading unit, and running off tens of billions of dollars in unwanted assets. The moves come as Credit Suisse’s investment bank has posted nearly $1 billion in write-downs since the fourth quarter, and as investors have shaved about a third of the value from the bank’s share price in the past three months.
Safe Seats
Large U.S. companies are increasingly governed by board members who have held their seats for a decade or more. At 24% of the biggest U.S. companies, a majority of the board has been in place for at least 10 years, our analysis found. It is a marked change from 2005, when long-term directors made up a board majority at 11% of large companies. Some investors worry that longtime board members may grow too close to the companies and management teams they are supposed to oversee, and lack the critical eye and fresh ideas that newer directors likely bring. BlackRock, State Street Global Advisors and other big money managers have begun opposing the re-election of some directors with extended tenure. See how the biggest U.S. companies stack up in terms of board pay, independence and female directors.
Back to Reality
You’re going to own a virtual reality headset one day. Yes, virtual reality isn’t just for gamers, our personal technology columnist Joanna Stern discovers as she takes us on several virtual journeys. With 360-degree video, the new technology is unlocking sports and entertainment experiences most of us would otherwise never have, such as goal tending for the New York Rangers or being on stage during “The Lion King” on Broadway. Google Expeditions help students visit important historical sites without leaving the classroom, and one day you might choose your next home based on a virtual reality tour. At Stanford’s Virtual Human Interaction Lab, researchers are probing whether virtual experiences could even make us behave better in the real world. Virtual reality runs a risk of isolating us more, but it can also connect people in clever new ways, and you’re going to want in on it.
TODAY'S VIDEO
Another Man’s Treasure
That Was Painless
Professor Toshio Miyatsuka is one of Japan’s leading experts on North Korea. He has filled his office with mundane objects such as toys and packs of cigarettes, all from one of the most mysterious countries in the world.
TOP STORIES
U.S.

Google and Obama Administration Connect Over Cuba

Supreme Court Could Split in Contraceptive Case
WORLD

For Obama, Muted Reaction to Brussels Attacks Is by Design

Saudis, Rebels Forge Yemen Cease-Fire
BUSINESS

Starboard to Start Proxy Fight to Remove Yahoo’s Board

Oil’s Decline Takes Toll on Saudi Conglomerate
MARKETS

Wall Street Faces New Rules on Pay

President of Valeant Investor Sequoia Resigns
NUMBER OF THE DAY
$43 billion
China National Chemical’s takeover bid for seed giant Syngenta. U.S. opposition to the largest acquisition by a Chinese company is growing, with a top farm-state senator saying the deal could pose risks to the security of America’s food supply.
QUOTE OF THE DAY
The Flint water crisis is a story of government failure, intransigence, unpreparedness, delay, inaction and environmental injustice.
Chris Kolb, president of the Michigan Environmental Council, on the finding by a panel appointed by Michigan Gov. Rick Snyder that he and other state officials are “fundamentally accountable” for the lead contamination of Flint’s water supply. Mr. Kolb served as co-chairman of the task force.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on U.S. companies increasingly being governed by long-term board members? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to yesterday’s question on the attacks in Brussels , Alexey Zabotkin of Russia shared: “An audacious escalation by jihadists, and hardly unexpected. Unfortunately, Europe—both as the Union and as individual countries—is very poorly equipped to address this challenge.” Roy Farrow of Nevada wrote: “The most striking aspect of the recent series of attacks, including Brussels, is that criminals, sometimes second generation citizens, are generally involved. Europe, as in the U.S., is seemingly unable to provide a path other than crime for many in the immigrant community.” Jim Pierce of Texas said: “Until the West is willing to treat ISIS and radical Islam as an extreme threat to our way of life, and consequently commit the necessary arms and boots on the ground in Syria and Iraq, innocent people will continue to die.” And Charles E. Dean of Minnesota commented: “As a psychiatrist, I am mystified by the contrast between our outrage and sorrow over terrorist attacks and our acceptance in the U.S. of 90 gun-associated deaths every day. Why is it more acceptable to be killed by a neighbor or spouse than by a jihadist in Brussels, Paris, or San Diego?”
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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