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

The Wall Street Journal
Good morning,
The Comey Coaster
Just two days before polls close in the presidential race, the FBI said a review of new evidence gave it no reason to reverse its earlier recommendation that Hillary Clinton not face charges related to her email practices while secretary of state. FBI Director James Comey told lawmakers in a letter that nothing had been uncovered in a new batch of messages that had altered the department’s earlier conclusion, lifting the legal and political cloud that had hung over Mrs. Clinton’s campaign for 10 days. The announcement, following a breakneck review of the emails, ended a stretch of intense partisan rancor over the FBI’s decision to reveal that it had uncovered new evidence believed related to Mrs. Clinton’s email server on a laptop belonging to Anthony Weiner, the estranged husband of Clinton aide Huma Abedin. Meanwhile, we report that after months of campaigning, Mrs. Clinton has several apparent paths to the White House, while Donald Trump must all but sweep the battlegrounds where the race has centered and will likely need at least one Democratic-leaning state, too. Nationally, a WSJ/NBC News poll released Sunday found Mrs. Clinton leading Mr. Trump by 4 points among likely voters.

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Chinese Passport for Banks
Beijing is considering allowing Wall Street firms to run their own investment-banking businesses on the mainland, a long-awaited step that would give them more access to China’s hard-to-crack domestic market. The move is being discussed as part of a new U.S.-China trade and investment framework. Firms such as Goldman Sachs and J.P. Morgan Chase potentially could operate investment-banking business in China on their own, whereas currently they must pair with domestic brokerages in joint ventures. The possibility of getting closer to the Chinese market is a breakthrough for global banks with limited access to the $7.48 trillion stock markets of Shanghai and Shenzhen and China’s domestic bond market. But China’s banks have become formidable rivals, and any agreement would need to be ratified by the U.S. Senate.
Left Fuming
Regulators in California recently discovered software installed on some of Volkswagen’s Audi models that appears to have allowed the cars to cheat carbon-dioxide emissions testing standards. The software was designed to mask emissions that are widely viewed as a factor in climate change, instead of smog as in the Volkswagen emissions-cheating scandal that erupted last year. It was detected four months ago during laboratory tests by the California Air Resources Board. It isn’t clear how seriously officials in California and Washington view the latest discovery, or whether Volkswagen had identified it privately to regulators. The discovery threatens fresh anger from officials, investors and car owners just as Volkswagen is wrapping up billions of dollars in settlements with states and owners of diesel-powered vehicles in the U.S. and a recall of nearly nine million tainted diesel vehicles in Europe.
Diamonds in the Rough
A small team of scientists working for De Beers is scrambling to stave off a looming threat that could tarnish the luster of mined diamonds: high-quality man-made stones. In the past few years, lab-grown diamonds have become indistinguishable from natural diamonds to the naked eye and are growing in sales. While still a small fraction of the market, synthetic gems could account for nearly one-tenth of rough-diamond sales within five years. Made by a small group of private companies as well as giants such as De Beers itself, man-made diamonds could undermine the value of the entire diamond industry, some experts say. We report that to counter the threat, De Beers last year started marketing a new, relatively cheap detector that can quickly screens batches of diamonds to spot synthetic stones.
Janet Reno, 1938-2016
Fomer U.S. Attorney General Janet Reno, the first woman to hold the post, died early this morning at age 78, her goddaughter told the Associated Press. Ms. Reno, who served from 1993 to 2001 under Bill Clinton, died at home in Miami from complications of Parkinson’s disease. Ms. Reno was at the center of controversies during her term, most notably the 1993 siege at the Branch Davidian compound in Waco, Tex., that ended with fire consuming the building and at least 80 people dead.
Their Kind of Town
That Was Painless
Chicago Cubs fans celebrated their team’s historic World Series win on Friday with a parade through the city.

Impact of Uncertainty Is Likely to Ease After Election Day

Donald Trump, Hillary Clinton Barnstorm for Florida Prize

U.S.-Backed Forces in Syria Launch Offensive to Seize ISIS Stronghold Raqqa

China Says Two Elected Hong Kong Lawmakers Can’t Retake Oaths

Corporate Profits Perk Up, but Caution Rules

U.S. to Launch New Chinese Steel Probe

Investor Angst Ratchets Up as Election Nears

Central Banks Facing Challenges From Political Events
5% to 10%
The expected drop in Wall Street bonuses this year compared with last. The declines still leave employees at firms such as Goldman Sachs, where the average worker earned $350,000 last year, among the best-paid Americans. But they highlight the challenges facing banks—and the dwindling perks of working at one.
I still don’t have my mom...And now I don’t even have satisfaction in knowing that whoever did kill her is away and they can’t hurt anybody else, they can’t hurt me.
Andrea Harrison on Larry son, who spent nearly 18 years in prison for the murder of Ms. Harrison’s mother before his conviction was overturned following DNA analysis. Relatives of victims say exonerations can leave them feeling overlooked, afraid and even angry.
Going back to our story above, what are your thoughts on the FBI’s latest announcement? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to Friday’s question on federal prosecutors nearing possible criminal charges for price-collusion in the generic-drug industry, Slade Howell of North Carolina wrote: “The federal government never ceases to amaze. In the case of generic-drug companies, deviation from competitive forces results with encountering the full wrath of the law. At the same time, the solution to high medical cost and limited accessibility is addressed with restricting competition by not allowing policy purchases across state lines and advocating for a national single payer health care system.” Robert J. Boyd of Massachusetts said: “Drug companies are not immune from appropriate federal government investigation of improper actions regarding price fixing. Investigation should be done swiftly with proper sanctions applied depending on findings.” And Robert P. Youngman of New York commented: “Collusion to fix prices is a criminal offense and should be prosecuted, but, as I recall, nowhere in the Constitution does it give Congress the right to fix prices. Is this a witch hunt to compel price regulation? Will the price of your home be next?”

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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