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

The Wall Street Journal
Good morning,
Democratic Disorder
Democrats gathering in Philadelphia for their national convention this week got off to a turbulent start in their efforts to begin unifying the party around Hillary Clinton. The week began with the resignation of DNC chairwoman Debbie Wasserman Schultz following the disclosure of a trove of hacked emails showing DNC officials working to undermine Sen. Bernie Sanders’s campaign. Ms. Wasserman Schultz, a congresswoman from Florida, said she would step down after the convention ends—meaning she will still have to face pro-Sanders delegates there. The convention’s opening night is expected to be an overture to the party's liberal wing, with speeches by Mr. Sanders, Sen. Elizabeth Warren and first lady Michelle Obama. Meanwhile, we report that Mrs. Clinton is set to take command of a party that has little in common with the one she and her husband rode to the White House a quarter-century ago.

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Global Attacks
Two people were shot dead and at as many as 16 others injured in a shooting early Monday at a nightclub in Fort Myers, Fla. Police were called to reports of a shooting in the parking lot of the Club Blu venue at around 12:30 a.m. Three people have been detained in relation to the shooting, Fort Myers police said. Meanwhile, in Germany on Sunday a 27-year-old Syrian man tried to enter an outdoor concert in Bavaria and then blew himself up, injuring 12 people, in what appeared to be this country’s first suicide bombing in years. It was the fourth high-profile act of violence within in a week in Germany and the third involving an asylum applicant.
Crude Estimates
The historic fall in oil prices has created a pileup of inventories, and millions of barrels of oil are flowing to locations outside the scope of industry trackers. Some countries, such as Russia and China, choose not to report their oil-storage levels, and traders and oil companies that park supertankers have no obligation to make public their supply. This makes for more cryptic and volatile oil markets. How much crude is in these locations, and how quickly it can be resold into the market, can affect oil prices. And inventories have become more critical as OPEC has increased its production to pump at nearly full tilt. Meanwhile, keeping track of inventories has become more complicated as developing countries store and consume more oil. With little hard data on certain storage spots, analysts piece together estimates using a patchwork of public information.
Shared Concerns
Beijing has managed to let the yuan slide against the dollar without sparking strong protests from its trading partners this year. Now, though, a bigger depreciation against a broader group of currencies is increasingly getting attention. At the two-day meeting of Group of 20 finance chiefs over the weekend, officials from some of China’s major trading rivals expressed concern over the yuan’s declines this year. The remarks show China’s exchange rate remains a source of uncertainty for global policy makers and investors. Two rounds of yuan devaluations in the past year triggered panic selling in markets world-wide and exacerbated the flow of money out of China. Meanwhile, seeing a surge in protectionist tendencies, G-20 finance ministers and central bankers are now featuring “shared” growth as a key priority as they craft their domestic economic policies.
To Your Health
From nonalcoholic martinis to cocktails frothed with chickpea brine instead of egg whites, drink purveyors are hustling to satisfy consumers’ growing desire for what they see as healthier quaffs. Until recently, alcohol makers have largely sidestepped pressure to cater to rising demand for healthier and more natural products. Now they are rolling out a host of gluten-free, vegan, low-sugar, all-natural, low- and no-alcohol drinks as they wake up to the idea that shifting consumer preferences could squeeze profits if they don’t react. Many of the new drinks aren’t necessarily better for you, but consumer-goods experts say there is a growing perception that “free-from” food and drinks are healthier. And the industry is scrambling to adapt as adult consumption of alcohol dips: in the U.K., adult consumption of alcohol fell 18% between 2004 and 2014.
TODAY'S VIDEO
Programmed to Serve
That Was Painless
China is having a bout of robot fever, with “machine people” popping up in restaurants and banks, but the enthusiasm has some worried about signs of a robot bubble.
TOP STORIES
U.S.

Debate Over U.S. Debt Changes Tone

Donald Trump Aims to Rain on Hillary Clinton’s Parade
WORLD

Munich Shooter Likely Bought Reactivated Pistol on Dark Net

Afghanistan Increases Security After Kabul Bombing
BUSINESS

Best-Paid CEOs Run Some of Worst-Performing Companies

Tech Giants Boast an Edge in Music Streaming
MARKETS

Cash-Strapped Governments Enjoy a Windfall in Low Borrowing Costs

Stock Investors Pay Up for Peace of Mind
NUMBER OF THE DAY
$4.83 billion
The amount Verizon has agreed to pay to acquire Yahoo. The price tag, which includes Yahoo’s core internet business and some real estate, is a remarkable fall for the Silicon Valley web pioneer that once had a market capitalization of more than $125 billion at the height of the dot-com boom.
QUOTE OF THE DAY
It is clear that with these attacks in quick succession, the worries and fears in our population will grow.
Bavarian Interior Minister Joachim Herrmann on a bombing in central Ansbach, Germany, by a Syrian man who killed himself and injured 12, the fourth high-profile act of violence within in a week in Germany and the third involving an asylum applicant.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on Ms. Wasserman Schultz’s resignation? 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 Friday’s question on new revelations about the truck attack in Nice, France, Martin Soy of California wrote: “This shows that radical Islam is far more pervasive than any of the law enforcement agencies know.” Gerald Tanny of Israel commented: “The latest revelations were completely predictable. Even a ‘lone wolf’ requires planning and aid to get weapons, etc., that are used in the attack.” And Bill Wood of California weighed in: “We are at war with Islamic terrorists. The failure of authorities to identify an Islamic combat cell is part and parcel demonstrating the fog of war. The problem is this war is fought at home not in some faraway place like Vietnam...We have to restructure our intelligence and combat operations to enable the identification of the enemy and then destruction of all concerned within the enemy cell. Defending the nation against all enemies foreign and domestic has new meaning and needs new rules.”
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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