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

The Wall Street Journal
Good morning,
Front-Runner Fumble
Both parties’ presidential front-runners lost the Wisconsin primary yesterday as GOP Sen. Ted Cruz beat Donald Trump and Democratic Sen. Bernie Sanders bested Hillary Clinton, virtually assuring heated battles all the way to the final primaries in June. The GOP result was a hard-won victory for anti-Trump forces who had seen the Wisconsin primary as their last, best hope to slow the front-runner’s momentum toward the Republican nomination. In the Democratic race, superdelegates who have endorsed Mrs. Clinton are facing increased pressure to change their positions after Mr. Sanders’s recent victories. The candidates now turn their attention to New York, where Mr. Trump and Mrs. Clinton hope to use their home-state advantage. Meanwhile, President Barack Obama waded into the Republican presidential race yesterday, accusing both Mr. Trump and Mr. Cruz of harming U.S. relations with foreign countries.
Dropped Prescription
Pfizer has decided to kill its planned $150 billion takeover of Allergan, after the Obama administration took aim at a deal that would have moved the biggest drug company in the U.S. to Ireland in order to lower its taxes. Under the merger agreement, Pfizer will pay Allergan a small breakup fee. The U.S. government had so far been unable to do much to stop corporate inversions, but that clearly changed with Monday’s publication of a third installment of proposed rule changes. Under the new rules, in the eyes of Treasury, Allergan would have been too small to be Pfizer’s inversion partner. And in another sign that the takeover boom is meeting resistance from U.S. regulators and antitrust enforcers, the Justice Department is preparing to file a lawsuit to block a proposed merger between Halliburton and Baker Hughes.
New Menu
Since Starboard’s rare shareholder coup of Darden Restaurants 18 months ago, the previously struggling stock of the Olive Garden parent has risen 47%. In addition, much of its real estate has been spun off, giving shareholders a second stock, and year-over-year sales at existing locations of the Olive Garden chain have increased for six straight quarters. The takeover was a highly visible test of whether activist investors can run a company better than its own managers. Credit for the success is shared. Starboard’s arrival helped propel cost cuts and spurred creativity, but some changes mirrored ideas that Olive Garden management had already started. Starboard CEO Jeffrey Smith stepped down this week as Darden chairman, saying the board and management put the restaurant company on a good path. The investment firm’s next challenge, unseating the board at Yahoo, is likely to prove tougher.
Close Ties
In my interview with Prime Minister Shinzo Abe yesterday, he offered a stout defense of the U.S.-Japan alliance and warned against “naked nationalism” in light of the American presidential campaign. He also told me that he wants to push through a Pacific trade agreement that presidential candidates of both parties have called a bad deal for America. Japan and other Asian nations have drawn unusual attention in this year’s campaign, as Mr. Trump has questioned the decades-old bedrock of U.S. military policy in the region. Mr. Abe declined to discuss individual candidates directly but alluded several times to the views of Mr. Trump. He also defended his economic program and said countries should avoid competitively devaluing their currencies, speaking after the dollar fell to its lowest level against the yen in nearly a year and a half. I invite you to read excerpts from the interview here.
Here’s the Beef
The ingredients are simple—salt, pepper, ground meat and the inalienable belief that any American can make a decent hamburger. Yet countless home cooks fail the test. What makes a good hamburger is a perennial obsession, though it feels ever more difficult to achieve perfection. How does a home cook compete with restaurants’ Wagyu beef, duck fat and baked buns? Among even professional chefs there is disagreement over the details. Some require pasture-raised beef. Others say cornfed is sweeter. Some swear by the Kaiser roll, and others the soft potato bun. We report on the best approaches for each essential element, from the meat (ground chuck is better than expensive cuts) to technique (use a skillet rather than a grill) and pickles (don’t forget the “unsung heroes”).
TODAY'S VIDEO
New Surrealism
That Was Painless
Using the Tilt Brush app and HTC’s new Vive virtual-reality system, you can create art in 3-D using your hands as brushes. Personal Technology columnist Geoffrey A. Fowler shows how this new art form takes shape.
TOP STORIES
U.S.

Arrests in Student-Visa Fraud Investigation

Amtrak Crash Probe Indicates Basic Safety Measure Wasn’t Deployed
WORLD

Islamist Rebels Shoot Down Syrian Warplane

Afghan Spy Agency Enlists Villagers to Hold Off Islamic State
BUSINESS

Sumner Redstone’s Team in Settlement Talks in Competency Case

HSN Gets Supporting Role in Hollywood Films
MARKETS

Fund Chief Survives Oil’s Swings

Retirement-Savings Rule: Who Wins
NUMBER OF THE DAY
0.08%
The yield reached by the 10-year German bond yesterday, the lowest in a year and just a hair short of the all-time low. A weeklong surge in government bond prices has taken 10-year yields in Europe’s strongest economy to the brink of once-unthinkable territory: negative interest rates.
QUOTE OF THE DAY
He told us to believe in Iceland…But at the same time he decided Iceland wasn’t a very good place to keep his money.
Sigmundur Halldorsson, a 49-year-old Reykjavik-born Web developer, on Iceland Prime Minister Sigmundur David Gunnlaugsson. Mr. Gunnlaugsson yielded his post yesterday, becoming the first major casualty of renewed global scrutiny into offshore accounts sparked by millions of documents allegedly leaked from a Panamanian law firm.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the Wisconsin primary results? 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 Supreme Court affirming the “one-person, one-vote” standard, Paul Kahle of California wrote: “Appalling! If you want more representation per vote, have a prison built in your district or turn yourself into a sanctuary city. The meaning of ‘we the people’ is the political class.” But Judith Dollenmayer of New York commented: “In a miserable political year for the Republic, at last a bright spot.” And Joel Rossmaier of Arkansas said: “Legislators are elected to represent the interests of all the people in their districts, not just citizens or those of voting age (and certainly not only those who voted for the legislator). Apportionment based on total population is the cleanest, fairest, and simplest way to apportion legislative seats.”
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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