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

The Wall Street Journal
Good morning,
Health Concerns
U.S. antitrust regulators have privately expressed concerns about Anthem’s $48 billion proposed acquisition of Cigna, and are skeptical that the health insurers can offer concessions that would fully preserve competition in the industry. Government officials outlined their worries about combining two of the nation’s top health insurers in a meeting with company representatives earlier this month in Washington. Anthem has said that it has minimal overlap with Cigna in terms of geography or products, and that the deal would bring down costs and improve offerings for customers. If completed, the tie-up would create the largest U.S. health insurer by number of members with more than 54 million, with $117 billion in annual revenue. Two main areas of concern for the government are the market for administering health benefits for national companies and the market for individual insurance plans.
Hold Your Fire
Republicans and Democrats are headed for a new showdown over gun control this week as lawmakers sort through four proposals on the divisive issue in the wake of the Orlando nightclub massacre. The Senate will vote Monday on provisions to limit access to weapons for people on the government’s terrorist watch lists and expand background checks. One Republican-sponsored measure to delay gun sales to buyers on a watch list has secured support from the NRA. None of the proposals is likely to reach the 60-vote threshold needed to overcome Senate hurdles, but some momentum was already building for a bipartisan compromise led by Sen. Susan Collins. Meanwhile, Attorney General Loretta Lynch said the FBI plans today to release a partial transcript of the 911 calls from the gunman inside the nightclub. But the transcript will not include some of Omar Mateen’s references to his Islamist motivations.
Divided They Vote
While the rest of the country’s financial industry has lined up quietly in favor of remaining in the EU, U.K. hedge funds are loudly divided on the looming “Brexit” referendum. Those who want to stay say London has benefited from the EU’s free market for services such as fund management and insurance. Those who want to bolt say heavy-handed regulation from Brussels has held London back and could damage it further. Bankers are reluctant to promote their views on the referendum because the financial crisis left the industry deeply unpopular with the public, but hedge funds, while also unpopular, usually cater to institutional investors and have wealthy owners who are politically active. Meanwhile, across the U.K., voters are divided on Thursday’s referendum roughly along class and generational lines, surveys show. But weekend polling suggested a shift back to the Remain camp, and that boosted the pound and global stocks this morning.
Victory At Last
The long, long, long wait is now over for Cleveland. After a series of stunning performances from MVP LeBron James, a masterful Game 7 from Kyrie Irving and the most unlikely comeback in the history of professional basketball, the Cleveland Cavaliers beat the Golden State Warriors, 93-89, in Game 7 of the NBA Finals on Sunday for the first title in franchise history. Their win rained on the Warriors’ championship parade and the city’s own professional sports drought that had lasted more than a half-century. Cleveland’s comeback was years in the making, beginning when James ditched the Cavaliers in 2010 and returned in 2014. Game 7 was a brawl of desperation, until Irving broke a fourth-quarter tie with a step-back, fadeaway 3-pointer with 53 seconds left.
Big Plans
That Was Painless
The giant Panama Canal expansion opens June 26 amid much fanfare and one of the worst shipping industry slumps ever. While it won’t do anything to help the dire state of the industry near-term, the changes are critical to Western trade in the long run.

Economic Gauges Raise Specter of Recession

Clinton to Target Trump’s Business Record

Iraqi Forces Extend Control in Fallujah

Guards Kill Syrians at Border, Groups Say; Turkey Denies Charge

Driverless Cars to Fuel Suburban Sprawl

U.S. Gasoline Demand Is Likely to Slide

Junk Bonds Regain Fans

Emails Reveal Bitter Silicon Valley Fight
$83 million
The price a Dutch fund, Moench Cooperatif, paid last August for Marzam, Mexico’s third-largest pharmaceutical distributor. What regulators didn’t know at the time was that the principal owner of Nadro, the country’s leading drug distributor, was actually behind the purchase of its rival.
The existence of two particles of uranium there would be consistent with our understanding of the involvement of Parchin in a past weapons program, but by themselves don’t definitively prove anything.
A senior White House official on the administration’s conclusion that uranium particles discovered last year at a secretive Iranian military base likely were tied to the country’s past, covert nuclear weapons program, a finding that contradicts Tehran’s longstanding denials that it was pursuing a bomb.
Going back to our story above, what are your thoughts on the proposed Anthem-Cigna tie-up? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to Friday’s question on American diplomats protesting U.S. policy in Syria, Mary Thompson of New Mexico wrote: “You know their concern has to be deep for them to risk their careers by putting something in writing and signing it.” Gerard M. Benvenuto of New Jersey commented: “How many thousands of refugees and killings does it take before the administration will realize that it is happening because of the Assad regime? The crossing of President Obama’s red line resulted in no response and Assad has, therefore, no reason to stop the killing.” But Marc Galmoud of Germany weighed in: “Diplomats should voice their reservations, thus guaranteeing that no option is overlooked, but the Obama administration’s own reservations have been equally well-earned. For all their calculations, trigger-happy diplomats have never been too accurate as to where solid ground ends and the slippery slope begins.”
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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