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

The Wall Street Journal
Good morning,
Missing Flight
Developing on EgyptAir said one of its aircraft disappeared early this morning while flying from Paris to Cairo with 66 people aboard. Contact with Flight MS804 was lost while it was over the Mediterranean Sea and shortly before it was due to land at 3:15 a.m. Indications about what may have happened were not immediately apparent. Greece’s navy said that it is investigating a report from the crew of a Greek merchant ship that they saw what resembled “an explosion that lit up the sky” over the Aegean Sea. Egypt will likely lead the investigation into the flight’s disappearance. It is the third major incident to befall the country’s aviation sector in recent months. In October, an Airbus A321 operated by Russian carrier Metrojet crashed in Sinai killing all 224 aboard, in what U.S. and U.K. authorities say was likely a terror attack. In March, a passenger claiming to wear an explosives vest hijacked an EgyptAir flight and forced it to land in Cyprus.
Crop Rotation
Bayer has approached Monsanto about a takeover that would fuse two of the world’s largest suppliers of crop seeds and pesticides. Should there be a deal, it could be valued at more than $42 billion, which is Monsanto’s current market capitalization. Monsanto’s board of directors is reviewing the unsolicited proposal, and the company said there was no assurance a deal would happen. Were it to go ahead, however, a combination of the companies could boast $67 billion in annual sales and create the world’s largest seed and crop-chemical company. But there is no guarantee regulators would bless such a tie-up, and if Monsanto isn’t on board, winning regulatory approval could be an even greater challenge.
Rate Rise Coming?
Federal Reserve officials sent skeptical investors a sharp warning yesterday that an interest-rate increase is still in play for June’s policy meeting if the economy keeps improving. Until a few days ago, traders in futures markets saw almost no possibility the Fed would move short-term interest rates up at midyear, but a batch of strong economic data, recent comments by Fed officials and Wednesday’s publication by the central bank of the deliberations at its last policy meeting have changed that perception. And the markets are heeding the Fed’s message. Investors scrambled to shed stocks, bonds and many commodities in a selloff yesterday that reversed an early-session gain in the Dow industrials and sent the yield on both the two-year and 10-year Treasury notes to their largest one-day gains this year. The Dow industrials finished nearly flat, while the shift in expectations ignited a surge in shares of banks.
Blood Pressure
Theranos has told federal health regulators that the company voided two years of results from its Edison blood-testing devices and issued tens of thousands of corrected blood-test reports to doctors and patients, voiding some results and revising others. The Edison machines were touted as revolutionary and were the main basis for the $9 billion valuation attained by the Palo Alto, Calif., company in a funding round in 2014. But Theranos has now told regulators that it threw out all Edison test results from 2014 and 2015, meaning some patients received erroneous results that might have thrown off health decisions made with their doctors.
Blue Feed, Red Feed
Imagine if you could flip a switch on Facebook, and turn all the conservative viewpoints that you see liberal, or vice versa, writes our Personal Technology columnist Geoffrey A. Fowler. You’d realize your news might look nothing like your neighbor’s. The world’s largest social network has recently faced allegations of political bias, particularly in its “trending topics” feature. Using data from Facebook, we made an online tool that lets you explore two live streams of posts you likely wouldn’t see in the same feed. One draws from publications where the majority of shared links fell into the “very conservative” category during Facebook’s study, while the other pulls from sources whose links, for the most part, aligned “very liberal.” The project presents alternative realities, and a missed opportunity for technology to break down walls. Meanwhile, 16 prominent conservatives met with Facebook Chief Executive Mark Zuckerberg yesterday to air their concerns about possible bias.
Don’t Shake It
That Was Painless
Instant cameras and printers from Fujifilm and Polaroid are making a comeback. Our Personal Technology columnist Joanna Stern reveals the best ones to buy.

Study Projects TPP Will Provide Modest Gains for U.S. Economy

San Francisco Leaders at Odds Over Police Chief’s Job

U.S., France Differ Over Readiness of NATO Missile-Defense Shield

Israel Plans to Expand ‘Iron Dome’ to Warships to Protect Offshore Facilities

Microsoft Takes Another Step Out of the Cellphone Business, as Nokia Plots a Return

Florida Town Wary of Fighting Zika With Biotech Mosquito

Investigators Studying Former 1MDB Official’s Payment to Ex-Goldman Banker

Activist Investors Ally to Form Lobby Group
$70 billion
The value of Puerto Rico’s debt load. House Republicans and the Obama administration neared an agreement yesterday to provide the island with a path to restructure its debt, the first step toward ending its decadelong recession.
I am so happy...We are going to use Amina as the symbol.
Oby Ezekwesili, a former education minister, on the return of the first of the so-called Chibok girls, 276 schoolgirls kidnapped from the town of Chibok, Nigeria, by Boko Haram in 2014. Hunters helping Nigerian soldiers battle Boko Haram found the 19-year-old, identified as Amina Ali Nkeki, wandering near a mostly abandoned village in the Sambisa forest yesterday.
Going back to our story above, what are your thoughts on an interest-rate increase still being in play for the Fed’s June policy meeting? 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 our findings about the gender pay gap, Gordon E. Finley of Florida wrote: “Choices have consequences. The purported pay gap is not caused by gender discrimination but rather by the differential choices that women and men, as categories, tend to make.” But Mary Ann Mikulski of New York shared: “In 1971 I graduated college with a bachelor’s degree in electrical engineering, magna cum laude, and six years of experience working non-degreed in an engineering job. I was hired by a very large computer company. At the same time as I was hired, the company hired to the same job a young man with the same degree, no honors and no experience. He was hired at a higher level than I was, and higher pay...It’s a real shame that gender pay discrimination existed then, and it’s inexcusable that it still exists today.” And Susan Jancar of Colorado commented: “Having been born in 1948...I can say to the women of today: ‘It is a long journey but don’t give up. Just keep on fighting for your rights and don’t depend on others to do it for you.’”
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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