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

The Wall Street Journal
Good morning,
A Crash Course
Egypt said today it has located parts of the missing EgyptAir plane in the eastern Mediterranean, providing the first solid evidence that the jetliner carrying 66 people plunged into the sea after swerving wildly and losing contact with flight controllers. Egyptian officials said that the loss of EgyptAir Flight 804 was more likely caused by terrorism than technical malfunction, though there was no word of any group claiming responsibility and a Pentagon official said a sensitive U.S. infrared satellite system hadn’t detected an explosion. With French air-crash investigators, U.S. military assets and Greek search-and-recovery teams moving to assist Egyptian authorities investigating the aircraft’s fate, the probe is shaping up as another complex, multinational effort. Meanwhile, the loss of the aircraft en route to Cairo from Paris has fanned concerns that one of France’s most protected terror targets—air travel—is vulnerable to Islamic State and other militant groups.
Triple Bogey
Thomas C. Davis, the former Dean Foods chairman, pleaded guilty on Monday to securities fraud, perjury and obstructing justice and is cooperating against legendary sports bettor William “Billy” Walters, a longtime friend. Retired from banking and deep in debt from gambling and federal taxes, Mr. Davis allegedly leaked inside information to Mr. Walters, who then allegedly passed on a lucrative tip to another debt-burdened gambler, golf star Phil Mickelson. Mr. Mickelson, who wasn’t charged with wrongdoing, agreed to pay the SEC more than $1 million, based on profits he made from trading on a Dean Foods tip from Mr. Walters, plus interest. Mr. Walters was arrested in Las Vegas on Wednesday and faces 10 criminal charges, including several counts of wire fraud and securities fraud. He is accused of earning illicit profits and avoiding losses of more than $40 million over six years.
We Don’t Love EU
In an echo of Donald Trump’s rise in the U.S., an increasing number of Europeans are voting for populist parties opposed to the very principles and institutions of the European Union. These voters want things few mainstream parties offer: a tougher line on immigrants, weaker or no ties to the EU and, often, closer links with Russia. After the migrant crisis erupted last summer, a throng of European voters from Denmark to France have delivered a series of electoral successes to populist parties. Euroskeptic language is in some places creeping into major parties, too, as they seek to stop voters from moving away. One factor contributing to the change, political scientists say, is a changing view of history. A receding memory of the Nazi era and Communist past in some countries is blunting the electorate’s knee-jerk rejection to xenophobic or nationalist rhetoric and taking some of the shine off Western-style democracy.
Summer Love
This could be the summer you meet your soul mate—the real-estate version, anyway. Our guide will help you find your dream getaway, or at least provide a setting for your daydreams. If your ideal summer afternoon involves sipping wine over a garden-to-table meal and gazing at vineyards, then Napa, Calif., is the spot. For parents with children who need room to roam, Falmouth, Maine, has access to the rugged islands off the coast, but is still only 7 miles from the airport. Nantucket, Mass., is a good match for the traditionalist, but there is a severe shortage of affordable housing. If you love hiking, fishing and mountain-climbing, Jackson, Wyo., has stunning vistas, world-class fly fishing and unparalleled access to national parks, not to mention an attractive tax profile. Take a look at our video for more information on homes in each area.
TODAY'S VIDEO
Serious Wordplay
That Was Painless
Nigerian players are dominating Scrabble tournaments with the surprising strategy of playing short words even when longer ones are possible, in an extreme form of rack management.
TOP STORIES
U.S.

Republicans, Obama Administration Reach Agreement on Puerto Rico Restructuring Bill

Houston’s Rapid Growth, Heavy Rains, Heighten Flood Risk
WORLD

Greece Struggles to Return Migrants Under EU-Turkey Deal

Europe’s Turkey Dilemma: Migration vs. Democracy
BUSINESS

Bayer’s Bid for Monsanto Faces Hurdles

Yahoo Suitors Expected to Bid $2 Billion to $3 Billion, Below Past Indications
MARKETS

Deutsche Bank Probes Trades That Made Employees Millions

1MDB Figure Who Made a Splash in Art Market Becomes a Seller
NUMBER OF THE DAY
$9 million
The amount of money cybercriminals stole from a bank in Ecuador last year, in a hacking attack similar to the one in which $81 million was stolen from Bangladesh’s central bank in February. The theft, detailed in a little-noticed lawsuit, suggests that global bankers haven’t been sharing critical information to prevent such heists.
QUOTE OF THE DAY
I will be the nominee for my party…That is already done, in effect. There is no way that I won’t be.
Hillary Clinton on the Democratic presidential race, which she said is effectively over. Mrs. Clinton also made it clear that she expects her rival Sen. Bernie Sanders to rally his backers behind her once the primaries end.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the rise of populism in Europe? 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 about an interest-rate increase still being in play for the Fed’s June policy meeting, Tom Lindemann of California wrote: “The Janet Yellen led Federal Reserve is like a ship without a rudder—too bad since it’s such an important vessel in the financial seas.” David May of Texas commented: “Except for the financial industry, which produces nothing tangible, all the other industries will be penalized by increasing rates and shares in all of them are already very high with little to no growth. The resulting higher dollar will hurt the industrial sector and the result will be a tipping into recession about the time of the elections.” And William E. Dove of Alabama weighed in: “The Fed is not supposed to play political games so near to the election. Under the circumstances the Fed can’t avoid sending a political message. It’s best course is no change.”
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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