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

The Wall Street Journal
Good morning,
Split Decision
One of the most storied names in technology is undergoing yet another transformation. Hewlett Packard Enterprise plans to spin off most of its technology services operations and merge them with those of Computer Sciences, in an $8.5 billion transaction that marks HP Enterprise’s latest adjustment to a shifting landscape that is roiling the market for corporate technology. The deal, a blockbuster follow-up to the breakup of Hewlett-Packard last fall, will create a corporate technology services specialist that will be led by Computer Sciences executives and have roughly $26 billion in annual revenue. Facing increasing competition from cloud-computing vendors such as Amazon and Microsoft, HP Enterprise will shed a business that accounts for roughly 100,000 employees, or two-thirds of the Silicon Valley giant’s workforce. The remaining operations will concentrate mainly on software, server systems, networking and storage hardware.
Legislative Chemistry
The House of Representatives overwhelmingly approved new chemical safety rules yesterday designed to overhaul federal regulation covering thousands of chemicals in daily use, a rare bipartisan action in a year in which Congress has been torn by presidential politics. The bill, the first significant update to federal chemicals safety law in 40 years, is expected to be passed by the Senate as soon as this week and signed into law by President Barack Obama. Trade groups representing Dow Chemical, DuPont and others pushed for the legislation as states, and even large retailers like Wal-Mart, Lowe’s and Target, were stepping in with their own, sometimes far-reaching rules over concerns about chemical safety. The new rules would give the EPA authority to evaluate and impose restrictions on chemicals used in everything from dry-cleaning to grease removal to paint thinners.
Tracking Down the Taliban
Mullah Akhtar Mansour was returning from Iran over the weekend, where he had been visiting family, and driving through an area of Pakistan that is normally off limits to U.S. drones when his Toyota Corolla was struck by Hellfire missiles. We chronicle how the U.S. tracked and killed the leader of the Taliban in an ambush that marked a critical moment in Obama administration policy on Afghanistan, as the White House weighed a push for peace talks and a potential need for a military escalation. The strike also represented a message that the U.S. would take action on Pakistani soil if necessary without advance warning. Pakistan said yesterday that the U.S. drone strike was “against international law.” Meanwhile, the Taliban appointed religious council chief Maulavi Haibatullah as its new leader, it said earlier today.
An Acquired Taste
With chefs driving the menus and attracting crowds, restaurants face a delicate dance: when to swap out a best-selling dish for something new. When a classic dish disappears or gets a makeover, diners often want to know why. In some cases it takes decades for restaurants to wean their clientele off a favorite dish. Many appease loyal fans by replacing a classic with a new creation containing similar flavors, and some kitchens keep ingredients on hand so they can quietly whip up an old favorite on request. “What you are familiar with is no longer the best culinary experience,” a third-generation restaurant owner tells people who question menu changes. “It would be the same thing if we’d kept the carpet from the 1950s.”
TODAY'S VIDEO
Trouble Up North
That Was Painless
Fans of the long-defunct Quebec Nordiques have been rooting for their team at other league games, trying to get the attention of the National Hockey League to bring the franchise back to Canada.
TOP STORIES
U.S.

U.S. Colleges’ Bounty of Foreign Students Thins

U.S. Probes Real-Estate Firm With Ties to Sen. Bob Corker
WORLD

Egypt’s Allies Rally Amid Fears Over Worsening Security

Eurozone and IMF Strike Deal on Greek Debt
BUSINESS

Monsanto Rejects Bayer Merger Offer, Says It’s Open to Talks

Fuel-Economy Debate Comes to a Head
MARKETS

OPEC’s Ability to Ease An Oil Supply Shock is Now Fading

Will Fannie and Freddie Need Another Bailout?
NUMBER OF THE DAY
30.4%
The decline in summer travel bookings to Brussels by American tourists, according to Allianz Global Assistance, a travel-insurance provider, as terrorism concerns weaken appetite for European travel.
QUOTE OF THE DAY
For the purpose of valuing my shares…
Michael Halloran, a securities lawyer with Pillsbury Winthrop Shaw Pittman, on the “magic words” shareholders can use under section 220 of Delaware’s corporate law to unlock financial information about locally incorporated companies. The law, little known in Silicon Valley, is a potentially valuable tool for thousands of tech workers who received stock awards to join fast-growing startups and now question their shares’ worth.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the U.S. launching a drone strike on Pakistani soil? 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 power struggle at Viacom, John L. Hoh Jr. of Wisconsin weighed in: “As the soap opera dies on daytime TV, the parent company of a network once a bulwark of the soap opera plays out a soap opera in real time.” Rich Irwin of Ohio opined: “Apparently Shari Redstone has a vision for her company and for whatever reason chooses not to reveal that vision. I think if the board of directors knew what that vision was, they would laugh it into the trash can, or this is a personal dysfunctional drama with emotions bleeding all over the place, or some combination of the two.” And Drew Kelley of California commented: “Internecine warfare at Viacom…How ‘Game of Thrones’!”
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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Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved.   

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