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

The Wall Street Journal
Good morning,
Apple Picking
The European Commission’s ruling that Apple must pay $14.5 billion in back taxes to Ireland intensifies a feud between the EU and the U.S. over the bloc’s tax probes into American companies and further complicates efforts to forge a bipartisan deal on U.S. tax policy. To the Treasury and members of Congress, EU regulators represent a threat, partly because companies could get U.S. tax credits if they pay more abroad, reducing future U.S. tax collections. The widely unpopular ruling highlights the difficulty inherent in international tax reform, and suggests that Brexit might make the U.K. more attractive to multinationals. The new tax bill is the latest headache for Apple CEO Tim Cook, but even if Apple is forced to pay the full penalty, it would make only a small dent in the company’s cash hoard.


An Unstable Foundation
The Clinton family is being pressed by some party officials and donors to sever all ties to the Clinton Foundation should Hillary Clinton win the presidential election. Some Democrats want to see more definitive steps to prevent an appearance of undue influence by the charity’s donors. Current plans call for winding down programs on an uncertain timetable, but keeping daughter Chelsea Clinton on the board and continuing to accept donations from U.S. individuals. Meanwhile, the State Department said on Tuesday it has found approximately 30 emails from Mrs. Clinton’s account that could be related to the 2012 attacks on two U.S. government facilities in Benghazi, Libya. And late Tuesday, Donald Trump announced that he will make a quick trip to Mexico today to meet with President Enrique Peña Nieto, shortly before Mr. Trump is slated to give a speech on immigration in Phoenix. Meanwhile Rep. Debbie Wasserman Schultz, the Florida Democrat who was pressured into giving up her post as chair of the national party, survived a high-profile primary challenge for her House seat Tuesday. In Florida Republican Sen. Marco Rubio easily beat back a long-shot bid from his closest primary challenger Carlos Beruff. And in Arizona, Sen. John McCain, campaigning for his sixth Senate term, overcame a primary challenge from former state Sen. Kelli Ward.
Fund for Spies
Like the agency that founded it, the CIA-funded venture-capital firm In-Q-Tel operates largely in the shadows. The firm’s officials regard it as independent, yet it has extremely close ties to the CIA and runs almost all investment decisions by the spy agency. In-Q-Tel discloses little about how it picks companies to invest in, never says how much, and sometimes doesn’t reveal the investments at all. Even less well-known are potential conflicts of interest the arrangements entail. We report that nearly half of In-Q-Tel’s trustees have a financial connection of one kind or another with a company the firm has funded. And unlike other venture-capital firms, In-Q-Tel is a nonprofit that uses public money, to which strict conflict-of-interest rules apply.
It Pays to Be Human
The job market’s most sought-after skills can be tough to spot on a résumé. Companies across the U.S. say it is becoming increasingly difficult to find applicants who can communicate clearly, take initiative, problem-solve and get along with co-workers. Those traits, called soft skills, can make the difference between a standout employee and one who just gets by. As companies have automated or outsourced many routine tasks, the jobs that remain often require workers to take on broader responsibilities that demand critical thinking, empathy or other abilities that computers can’t easily simulate. We report that, in pursuit of the ideal employee, companies are investing more time and capital in teasing out job applicants’ personality quirks, sometimes hiring consultants to develop screening methods and beefing up training programs.
New Virtual Heights
That Was Painless
Roller-coaster fans at some amusement parks can now experience new thrills thanks to virtual reality. Riders wearing specially reinforced VR headgear are immersed in a fantasyland where they soar, plunge and twist in sync with a coaster’s motion.

New York Court Redefines Parenthood to Protect Gay Couples

Fire Stations Open Their Doors to Addicts

After Initial Drop, Fresh Surge in Migrant Arrivals Puts Extra Strain on Greece

Islamic State Spokesman Killed in Syria

Fertilizer Producers Agrium and Potash in Merger Talks

Theranos Halts New Zika Test After FDA Inspection

Oil-Deal Score Helps Aubrey McClendon’s Heirs Hang on to NBA’s Thunder, for Now

FDIC Fund Climbs to Postcrisis High
2.6 billion
The number of shares traded at the NYSE on Monday, the lowest amount since Dec. 31. Trading has been particularly subdued this August, even for a month typically marked by muted market activity, and by some measures the S&P 500 has been trading in its narrowest range in decades.
They have a lot of people who trust Waze…If they can capitalize on that, they could pull some market share.
Robert Rickett, a 29-year-old nonprofit worker and Lyft driver in Sacramento, Calif., on Google’s new ride-sharing service in San Francisco that will connect users of its Waze app with fellow commuters.
Going back to our story above, what are your thoughts on the European Commission’s ruling on Apple? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to yesterday’s question on Mylan offering a generic version of the EpiPen, George Segelken of Pennsylvania said: “Mylan got caught being greedy and it’s now doing damage control. It’s a shame that government barriers to market entry in the generic drug market let Mylan take advantage of a de facto monopoly for as long as they did.” Max Cardin of Maryland weighed in: “This PR move sacrifices long-term growth for short-term media applause. Besides setting a dangerous precedent if and when future price disputes arise, the decision undercuts the credibility of Mylan CEO Heather Bresch’s message to EpiPen customers. If the price increase truly targeted insurance companies and not consumers, why forego the additional revenue? The complexities of branding and pricing pharmaceuticals include many layers of regulation and protection. This rash decision will harm Mylan, harm consumers, and further line the pockets of the insurance companies.” And Margaret Gernert of Pennsylvania commented: “Poor ethics, greed and the blatant rejection of the greater good will hopefully translate to a long-term, brand-sullying mess for this company and its CEO. Doing right is not only its own reward; it’s a better business practice.”
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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