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

The Wall Street Journal
Good morning,
Web of Intrigue
Yahoo said Thursday that hackers penetrated its network in late 2014 and stole personal data on more than 500 million users, from names and email addresses to telephone numbers and encrypted passwords. The internet company is blaming “state-sponsored” hackers for what may be the largest-ever theft of personal user data. The significance of the disclosure is twofold: that the company says the breach is the work of another nation and because it raises questions about the fate of its pending $4.8 billion sale of core assets to Verizon, announced in July. The telecom company said it was notified of the breach earlier this week. Yahoo didn’t say how the hackers broke into its network or which country sponsored the attacks. Many computer attacks in late 2014 were believed to be the work of China, while more recent hacks have been blamed on Russia. Meanwhile, big ad buyers and marketers are upset with tech giant Facebook after learning that it vastly overestimated average viewing time for video ads on its platform for two years, according to people familiar with the situation.
Death and Taxes
Hillary Clinton detailed a new tax plan yesterday that would levy a 65% tax on the country’s largest estates. That’s up from today’s 40% top rate and marks an expansion of tax increases the Democratic candidate would impose on the uppermost sliver of America’s affluent. In all, Mrs. Clinton would raise taxes by about $1.5 trillion over the next decade to pay for expanded education assistance, paid family leave and other programs. The plan comes in contrast to the tax cuts favored by Republican rival Donald Trump, leaving the two sides at least $6 trillion apart on tax policy. The GOP nominee, meanwhile, spoke yesterday of an “America-first energy” plan, promising sweeping deregulation of U.S. gas, oil and coal production. Mrs. Clinton has maintained an edge over Mr. Trump in recent polls, including a 48-point advantage among Hispanic likely voters, a new WSJ/NBC/Telemundo survey finds.
Turkish Lessons
American charter schools have become embroiled in a proxy fight between Turkish President Recep Tayyip Erdogan and his nemesis. With millions of global followers, Fethullah Gulen, a Muslim cleric blamed by Turkish officials for orchestrating a coup attempt in July, has a network that includes supporters who run schools and institutions around the world. Lawyer Robert Amsterdam, whose firm was hired by Turkey, says he is out to prove that roughly 150 schools in the U.S. and hundreds of other academic institutions and businesses around the world channel millions of dollars annually to the Gulen movement—ties that he says amount to a “money laundering” scheme. Yuksel Alp Aslandogan, executive director of a nonprofit that promotes Mr. Gulen’s ideas, says the schools targeted by Mr. Amsterdam “are American institutions serving American children and their parents.”
Home Court Advantage
A host of laid-back lawn games are finding their way into high-end home landscaping. An increasing number of homeowners are paying handsomely to install courts for bocce, horseshoes, shuffleboard and croquet. The trend is driven in part by aging baby boomers looking for less strenuous activities, but these games have also experienced a surge in popularity among younger people. The taste for lawn games also dovetails with a trend toward amenity-packed landscaping, as opposed to space-consuming fixtures such as basketball and tennis courts. The cost of integrating lawn games into the landscape varies widely, ranging from a few thousand dollars for a basic bocce court to six-figure price tags for more elaborate projects.
Channel Surfing Overseas
That Was Painless
U.S. audiences have developed a newfound appetite for foreign television shows, drawing viewers to streaming services and even pirating sites to get their fix of overseas programming.

Riots Upend Charlotte’s Civic Identity

Wife of New York Bomb Suspect Ahmad Rahami Returns to U.S.

As Violence in Syria Again Soars, One Rebel-Held Neighborhood Relents

Islamic State Driven From Strategic Town of Shirqat, Iraqi Military Says

Airbnb’s Funding Round Led by Google Capital

Breakthrough Gene Technology Attracts Investors Amid Patent Dispute

Global Stock Rally s Out

Bond ‘Tantrum’ Threat Fades
$3.7 billion
The amount of fees banks have booked for helping companies sell stock in the U.S. so far this year. That is the lowest year-to-date revenue generated from U.S. equity-capital-markets business since 1995, as historically low rates give companies cheaper funding alternatives.
[The police footage] does not give me absolute, definitive, visual evidence that would confirm that a person was pointing a gun.
Kerr Putney, Charlotte-Mecklenburg police chief, speaking at a news conference in the wake of riots in downtown Charlotte, N.C., over the fatal police shooting of a black man.
Going back to our story above, what is your reaction to Hillary Clinton’s proposal that would increase the top-rate estate tax to 65%? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Cynthia Lin
Responding to yesterday’s question on Mylan CEO Heather Bresch’s testimony before Congress on EpiPen pricing, Louise B. Andrew of Washington said: “I believe she is shameless, and that this particular pharmacological price gouge affects predominantly those least able to protect themselves (children) as well as those most subject to guilt (parents) if they don’t cut out other budget items in order to keep multiple units of this necessary drug on hand at all times lest they or designated caretakers need to save their children’s lives after exposure to ubiquitous environmental hazards. At the very least, Mylan should be fined an amount sufficient to supply every school in the country with multiple EpiPens.” James L. Mayer of Maryland wrote: “The most important point, buried at the end of a newscast, is that the FDA drags its feet in approving competing treatments. The way to keep companies from gouging the public is to allow competition but senators and government officials don’t want to admit they are part of the problem.” And John Brock of Alabama commented: “The real question is why is it any of Congress’s business what a private company decides when it prices its products?”
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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