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

The Wall Street Journal
Good morning,
The Grand Old Party
Republicans, still reeling from the events of the weekend, openly fought Monday as they found themselves at risk of losing the White House, the Senate and—though still a long shot—even the House of Representatives. House Speaker Paul Ryan cut the cord to the Trump campaign, telling House colleagues to do what they needed to survive politically while he would neither campaign for nor defend their party’s presidential nominee. His focus, he told them, will be on holding the GOP House majority. The events presented a remarkable spectacle of the party’s chaotic state. It is unprecedented in recent political history for a presidential nominee to be repudiated by his party’s congressional leadership. Many RNC members and other Trump supporters reacted in fury and called their leaders cowards for not standing by Mr. Trump, while RNC Chairman Reince Priebus told the party to stay in line behind its nominee.

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Blood Money
One of Theranos’s biggest financial backers has sued the embattled startup and its founder for allegedly lying to attract its nearly $100 million investment. Partner Fund Management, a San Francisco-based hedge fund, filed the suit in Delaware Court of Chancery on Monday afternoon, a letter to the hedge fund’s investors says. The letter says Theranos, its founder Elizabeth Holmes and a former executive deceived the hedge fund by claiming it had developed “proprietary technologies that worked,” and was close to getting regulatory approvals. The suit is the first sign of trouble from investors who poured about $800 million into the company, and then remained silent as it navigated a challenging year that began when The Journal first reported on shortcomings in its operations and technology last October. A spokesman for Theranos said “the suit is without merit and Theranos will fight it vigorously.”
In the Red
Wells Fargo managers pushed bankers to sign up customers for potentially costly overdraft protection that they didn’t always need or realize they were getting, according to current and former bankers and managers. We report that banks became concerned about losing income following a Federal Reserve regulation requiring them to get customers’ permission to opt into a service that would allow customers to overdraw their accounts, incurring a fee. That prompted individual managers at Wells Fargo to push personal bankers to find new ways to get customers into the service. Members of Congress expressed concern about potential overdraft problems at the bank during two hearings last month with Wells Fargo CEO John Stumpf, after the bank agreed to a $185 million fine and enforcement action over what the CFPB called the “widespread illegal practice” of opening unauthorized accounts.
Doctor’s Orders
Your doctor wants you to stop taking so many medications. Studies show nearly 40% of patients in their 60s take more than five medications. Now more health-care providers are adopting an approach known as de-prescribing to help adults in the U.S. and elsewhere reduce excessive use of prescription drugs and over-the-counter medications and supplements. Doctors conduct comprehensive medication reviews, using screening programs to identify possible side effects and interactions, then wean patients off drugs that are unnecessary or where risks outweigh benefits. The body processes many drugs less efficiently as it ages, which can lead to problems with long-term medications. One geriatrician advises, “On a regular basis, patients should be asking their health-care providers, ‘Is this still the right drug for me, and if not, what other drug or nondrug therapies are safer and equally effective?’”
TODAY'S VIDEO
Shaken Samsung
That Was Painless
Samsung said that it would permanently discontinue production and sales of its embattled Galaxy Note 7 smartphone, pulling the plug on a premium product whose botched recall, following reports of overheating batteries, has brought headaches to consumers and inflicted damage on the Samsung brand.
TOP STORIES
U.S.

Hurricane Matthew Tests Electric Grid’s New Storm-Resistant Technology

Hillary Clinton Proposes a New Tax Break
WORLD

Syrian Arrested After German Manhunt Plotted Berlin Airport Attack, Officials Say

In Coastal Libya, Islamic State Prepared to Build a Nation
BUSINESS

Twitter Shares Plunge, as Suitors Appear to Lose Interest

Cheap Luxury Goods in the U.K. Lure Shoppers
MARKETS

Dueling Payday-Lending Campaigns Deluge CFPB With Comments

Investors See New Risk in Trump Swoon: A Democratic Congress
NUMBER OF THE DAY
15.3%
Growth in the $14 billion Renaissance Institutional Equities LP fund in 2016 through Sept. 23. Hedge-fund firm Renaissance Technologies which relies on closely held computer models and algorithms, has staged a comeback after an uneven spell, even getting a cash influx as rivals suffer withdrawals.
QUOTE OF THE DAY
Chinese tourists like to give this to me, but I really do not know why.
Younes Mohamed, a cleaner at Serenity Beach resort on the Red Sea coast, on a ritual of mysterious origin: Many Chinese tourists visiting Egypt tip with cans of mentholated ointment instead of cash.
TODAY'S QUESTION
Going back to our story above, what do you think about Samsung permanently discontinuing production of the Galaxy Note 7? 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 the second presidential debate, Andy Szpekman of Connecticut said: “The coverage saying Donald Trump did well in the second debate shows how low the bar has now been set for him. It seems all he needs to do is mutter ‘I’ll put Hilary in jail if I’m elected’ and ‘l’ll knock the hell out of ISIS,’ irrespective of what he was asked, and we marvel at how well he prepared for this encounter. I wish my job were that easy.” David Thornton of Texas wrote: “The biggest loser was the GOP. Prior to the debate, Mr. Trump seemed to be on the verge of dropping out. He did just well enough to carry on. His performance won’t win the election or turn the tide of the polls, but it may make some Republicans stand by him who were ready to flee. In the end, that’s a bad thing. It will prevent an electable candidate from being substituted and people like Gov. Mike Pence will watch their careers be damaged. The Senate races will start trending Democrat...It’s a slow death for the GOP.” And Barry Mohler of Pennsylvania commented: “I feel Mr. Trump won handily, and considering he’s new at political debating that is a remarkable accomplishment, especially given the type of pressure on him.”
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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