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

The Wall Street Journal
Good morning,
Cutting Back
OPEC members agreed that they need to cut crude output to reduce the world’s supply glut, a shift for the 14-member group that was enough to send oil prices higher, even though striking a deal remains far from certain. Members of OPEC said they reached an understanding—their first collective acknowledgment since oil prices cratered two years ago—after a six-hour gathering in Algeria, but deferred until November the fraught task of finalizing a plan to make the cuts. Determining which countries will cut and by how much is a delicate negotiation that has undone previous efforts to curb output and boost prices. One factor that could make it easier: The group is already pumping full tilt at levels that are hard to maintain. The prospect of cuts sent crude oil benchmarks up more than 5% on Wednesday and gave some support to U.S. stocks, but fell back a little today.
Together Again?
Weeks after cementing a powerful role in her family’s $40 billion media empire, Shari Redstone is moving potentially to undo the last big strategic move of her ailing father, Sumner Redstone. National Amusements, the Redstone family’s holding company, is poised to urge the boards of the companies it controls— Viacom and CBS—to explore a merger. Coming a decade after Mr. Redstone split the two companies from each other, the proposed reunion would be effectively an admission that the divorce, which was originally intended to free Viacom’s then fast-growing cable channels from the drag of CBS’s old-school broadcast assets, didn’t pan out as intended. A merger could provide a strong leader for troubled Viacom in the form of CBS CEO Leslie Moonves, a favorite of media investors.
Legal Jeopardy
Congress voted overwhelmingly yesterday to override President Barack Obama’s veto of legislation that would let Americans sue foreign governments over terrorist attacks, the first such rebuke since the president took office. Families of the victims of the Sept. 11, 2001, terrorist attacks have long sought the right to sue Saudi Arabia for any alleged role in the attacks. The White House and legal experts, however, have warned that the act could leave the U.S. vulnerable to lawsuits in foreign courts, putting American service members at legal risk. Also yesterday, Congress avoided a partial government shutdown at the end of the week after both chambers passed a short-term spending bill that would keep the government running through early December. On the campaign front, Donald Trump stumped in Iowa and Hillary Clinton leaned on Sen. Bernie Sanders in New Hampshire to gain support among younger voters.
Long-Distance Connection
Would you walk a mile for an airline flight? As moving walkways disappear in some airports to make room for seats, bars and restaurants, you could be in for a serious hike to your gate. Airport terminals are getting longer for bigger planes, more gates and extra retail space, writes our Middle Seat columnist Scott McCartney, and connecting flights are sometimes located farther away because airlines have spread operations over more terminals. Several airports now report their longest potential walks stretch more than a mile, with some much longer. Trams, buses, carts and wheelchairs can shorten those hikes. You can’t check your gate reliably until 24 hours before a flight, so the best bet is to give yourself plenty of extra time, or request wheelchair or cart assistance in advance.
Digital Stickers
That Was Painless
Our Personal Technology columnist Joanna Stern, in Bitmoji form, explains why digital illustrations, tech’s latest cash cows, are herding onto your phone screen.

A Growth-Friendly Climate Change Proposal

U.S. Believes Hackers Are Shielded by Russia

Mexico’s TV Giveaway Spawns Questions

U.S. Looks at Arming Syria Rebels

Takata in Talks to Resolve Allegations of Criminal Wrongdoing

SABMiller, AB InBev Shareholders Approve Merger

Commerzbank to Slash Jobs, Scrap Dividend in Revamp

Wells Fargo CEO Isn’t Out of Danger Despite Pay Clawback
$400 million
The amount Och-Ziff Capital Management Group, the largest publicly traded U.S. hedge fund, will pay to settle federal charges that it paid tens of millions of dollars in bribes through intermediaries to African government officials.
It’s hard to imagine how it could have gotten worse than the heroin we were dealing with...[But] the fentanyl has taken this to a new level.
Brad Schimel, Wisconsin’s Attorney General, on the flood of fentanyl that is supercharging the longstanding problem of drugs in small towns. Death rates from overdoses are now higher in rural areas than in big cities, reversing a historical trend.
Going back to our story above, what do you think about Congress overriding President Obama’s veto? 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 Amazon’s ambitions to tackle shipping, Charlie Kendall of California said: “UPS and FedEx would do well to pay attention to Amazon’s competitive nature. They have and are testing the waters with success. Unlike DHL, Amazon is a company with proven success and reliability domestically in most categories of business they have ventured into. They are not a competitor to be taken lightly.” Robert G. Hessinger of Pennsylvania wrote: “The business is there, the market is there, the business models are there, the money is there and they are hiring the best from the shipping industry and ex-military, who know logistics. Isn’t competition great!” William E. Hall of Virginia commented: “What’s next for Amazon, to start manufacturing those items which are their best sellers? Wasn’t that Henry Ford’s goal, to own the entire production pipeline for his automobiles, from rubber plantations in South America to the steel mills, coal mines and iron ore mines? How did that work out?” And Mike McKay of New Jersey weighed in: “I’ve been in the courier business in the tri-state area for 40 years. Amazon can do it, but ultimately it is penny wise and pound foolish. UPS in particular is very efficient, and has it down to a science. Should UPS and FedEx start their own online shopping sites?”
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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