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

The Wall Street Journal
Good morning,
The Law-and-Order Candidate
Donald Trump ended his party’s convention Thursday the way he began his history-making campaign: attacking the political establishment, playing to voters’ fears of crime, free trade and illegal immigration, and making bold promises to fix America’s ills. He intensified his attack on Hillary Clinton and returned to familiar campaign themes of opposing international-trade deals and cracking down on illegal immigration. But, citing recent episodes of gun violence and attacks on police officers, he put fresh emphasis on law and order. “Nobody knows the system better than me, which is why I alone can fix it,” he said. Introducing her father, Ivanka Trump made a case for his kinder side and appealed to women and millennials, a departure from a convention marked by factional divisions and maneuvering for 2020. Mr. Trump will now take his unorthodox campaign to the general-election fight, aiming to challenge Mrs. Clinton by capturing a handful of states in the Rust Belt and the Northeast that typically favor Democrats, with an appeal to less-educated, working-class voters. Meanwhile, Mrs. Clinton will be officially nominated as the Democratic presidential candidate next week in Philadelphia. Her vice presidential pick is expected to be Sen. Tim Kaine of Virginia—a name she is likely to reveal at the weekend.

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Premeditated Assault
The man who killed 84 people in Nice on Bastille Day conspired with several others in an attack planned for many months, France’s top antiterror prosecutor said Thursday, reversing authorities’ theory that he had only recently been radicalized. The shift came as investigators pored over phone and computer records and magistrates were interrogating five people suspected of providing support. Evidence suggests the attacker had embraced Islamist extremism as early as the Charlie Hebdo attack in January 2015, and the disclosures raise the possibility that he and his suspected accomplices were part of a broader jihadist group that went undetected, in what would be another security failing by French authorities after two major terror attacks over the past 18 months. Meanwhile, Brazil’s federal police on Thursday arrested 10 Brazilians they said were linked to Islamic State and planning terrorist acts during the Olympic Games in Rio de Janeiro.
Faring Poorly
It should have been a great year to be an airline. Instead, on both sides of the Atlantic, plunging fares, terrorism fears and currency swings are buffeting big legacy carriers and budget airlines alike. As lower oil prices led to lower fuel bills, many airlines took advantage by adding flights and seats—but they overestimated demand. Now, U.S. airlines are caught in a spiraling fare war, led by super-discount carriers like Spirit and Frontier. Corporate fares, often some of the most profitable tickets an airline can sell, are also falling. Unit revenue for the U.S. industry overall has been shrinking for more than a year, and the outlook is only worsening. Meanwhile, we report that across the pond, terrorism, air-traffic-control strikes and uncertainty surrounding Britain’s vote to leave the EU have delivered shocks that have hit demand all year.
One for the Books
The digital revolution that flummoxed the music, movie and publishing industries has given rise to a surprising winner: the audiobook. Sales in the U.S. and Canada jumped 21% in 2015 from the previous year and the surge is continuing. Publishers, spotting a juggernaut, are hiring high-profile actors, fattening production budgets and tiptoeing into original dramas. Authors such as Stephen King are even writing specifically for audio. Smartphones and multitasking have stoked the explosion, as audiobooks have shed the stigma that listening is a lesser intellectual pursuit than reading. Fans say they still read e-books and print books, but listening allows them to explore books they wouldn’t otherwise have time for. We take a look at the audiobooks that are generating buzz.
TODAY'S VIDEO
Ailes Steps Down
That Was Painless
Roger Ailes agreed to resign as Fox News Channel’s chairman and chief executive in the wake of a sexual-harassment scandal. He will be replaced by 21st Century Fox Executive Chairman Rupert Murdoch.
TOP STORIES
U.S.

FEMA Looks to Shift More Disaster Costs to States

NBA Pulls All-Star Game From Charlotte Over North Carolina Bathroom Law
WORLD

Russia Bombed Base in Syria Used by U.S.

Iraqi Factions Vie to Take Part in Mosul Offensive
BUSINESS

U.S. Files Suits Seeking to Block Insurer Deals

GM’s Profit More Than Doubles
MARKETS

Goldman Sachs Raising Private-Equity Fund of $5 Billion to $8 Billion

Leo DiCaprio’s Cameo Role in 1MDB’s Growing Drama
NUMBER OF THE DAY
$200 million
The approximate amount J.P. Morgan Chase is expected to pay to settle federal investigations into whether it tried to win business by hiring the sons and daughters of powerful people in Asia.
QUOTE OF THE DAY
Economic policy has moved in a fundamental way into Xi Jinping’s shop, and out of Li Keqiang’s shop. Li cannot be happy with this, and it is hard to see how the Xi-Li relationship can be maintained under these conditions.
Barry Naughton, an expert on China’s economy at the University of California, San Diego, on visible discord between the country’s top leaders, a remarkable departure from the unified front the Communist Party traditionally seeks to present.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the revelations about the attack in Nice, France? 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 Sen. Ted Cruz refusing to endorse Mr. Trump, Harry Fisher of Connecticut wrote: “‘Lying Ted’ just earned the moniker even more by signing the pledge to support the eventual nominee, and then failing to do so.” Shelby A. Jordan of Texas said: “Mr. Cruz’s refusal to live up to his promise to support the candidate should show all but his most hardened supporters that he is all about himself...Texas is not proud of him.” Keith Elcock of Indiana shared: “Mr. Cruz was as gracious as he could be when you consider Mr. Trump mischaracterized him throughout the primary as a liar; his wife as a mental case and his dad as a conspirator to assassinate a former president.” Linda Crotteau of Mexico opined: “I think Mr. Cruz did a courageous thing by not endorsing Mr. Trump. So many in the Republican party have followed along with whatever Mr. Trump says and does, while forgetting their own values and self respect.” And Stephen Pearcy of South Carolina commented: “This was not an act of conscience but rather of calculated ambition—he’s looking to 2020.”
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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