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

The Wall Street Journal
Good morning,
The New Rule Makers
U.S. business leaders are predicting a dramatic unraveling of regulations on everything from overtime pay to power-plant emission rules as Donald Trump seeks to fill his cabinet with determined adversaries of the agencies they will lead. The president-elect’s pick Thursday to head the Labor Department, fast-food executive Andrew Puzder, is an outspoken critic of the worker-pay policies advanced by the Obama administration. That choice and others, including Oklahoma Attorney General Scott Pruitt to lead the EPA and financier Wilbur Ross Jr. at the Commerce Department, suggest that the Trump administration is determined to advance labor, environmental and financial regulatory policies that are more favorable to many American corporations, though not all will back his proposals. Meanwhile, we report how Mr. Trump’s web of LLCs makes it impossible to gauge the full extent of potential conflicts he may face as president.

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Less for Longer
The European Central Bank prolonged its extraordinary lifeline to weak eurozone economies on Thursday, just days before the U.S. Federal Reserve is expected to move in the opposite direction and raise interest rates. That divergence caused investors to initially boost the euro before sending it lower as U.S. equity markets hit record highs. The ECB surprised markets by saying it would slow the pace of its asset purchases, sparking a debate over whether the ECB had started down the path toward ending its monetary stimulus. Such a move—swiftly denied by the ECB—might be welcomed by some of the bank’s top officials, who are eager to signal an eventual exit. Instead, the ECB’s decision was mostly taken as a sign the eurozone badly needs the type of support that the Fed next week could begin removing from the U.S.
Fake News, Real Money
Big brands, often inadvertently, are helping fund websites at the center of a growing controversy over misinformation on the internet. We report that ads from companies such as Choice Hotels, SoundCloud and Bose appear on sites with false or misleading news. Those companies are among thousands of brands that could appear on such sites based on a user’s browsing history or demographics. Industry executives say some fake-news sites can generate tens of thousands of dollars in monthly revenue from ads. The appearance of well-known brands on the sites reflects the complexity of online advertising. Multiple middlemen are often involved, leaving both publishers and advertisers uncertain about which ads will appear where. Google said it would stop placing ads on sites with “deceptive or misrepresentative” content. But so far, enforcement appears spotty.
Some adult children say it is the ultimate display of gratitude: buying their parents a house to grow old in. Proponents say it allows children to improve their parents’ quality of life, and the approach can have benefits from a tax and investment standpoint. Experts warn, however, that buyers should tread carefully when mixing finances with family dynamics. Some parents are wary of accepting financial help from their children, and well-intended gestures can sometimes be met with unexpected resistance. The gutsiest move is buying a house as a surprise. We talked to adult children who have purchased homes for their parents, including Jamba Juice founder Kirk Perron, NFL player John Urschel and one real-estate investor whose mother wasn't pleased.
Space-Age Icon
That Was Painless
John Glenn, the first American to orbit the Earth and a four-term U.S. Senator, died Thursday at the age of 95 in Columbus, Ohio.

Orrin Hatch May Prove a Crucial Ally for Donald Trump

Oakland Warehouse Fire Victims Include Artists and Musicians Just Launching Their Lives

South Korea President Park Geun-hye Impeached by National Assembly

Turkey Takes Further Steps to Bolster Slumping Currency

Time Inc. Hires Banks to Help Field Takeover, Partnership Interest

Companies on Climate: Trump or No, Still Cutting Emissions

The Stock Market of Our Dreams

Coal Comeback? This Mining Company Already Pivoted to Gas
The percentage of American 30-year-olds who earn more than their parents did at a similar age, an enormous decline from the early 1970s. Even rapid economic growth won’t do much to reverse the trend.
We’re all going to start learning a lot more about the people we get seated next to.
Michael Greene, a Chicago-based sales specialist for GE Healthcare, on U.S. aviation regulators suggesting they are leaning toward eventually allowing in-flight calls from airline passengers.
What are your thoughts on the Transportation Department weighing allowing phone calls during flights? 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 Mr. Trump’s latest appointments, Steve Chanecka of California commented: “With every selection, Mr. Trump is impressing me that he is looking to form a cabinet that is serious, experienced, goal-oriented and not afraid to face criticism. They appear to know their subject areas and are determined to make government work better.” Ben Richmond of Oregon said: “Perhaps as governor of a state with an economy driven by agriculture, Iowa Gov. Terry Branstad will be able to convince Mr. Trump that a trade war with China would be disastrous for the American economy.” Charles E. Dean of Minnesota wrote: “One can only imagine the disappointment, not to speak of the rage, felt by low-income workers when they discover a few years from now that Mr. Trump’s cabinet has gutted their health care plans, their access to Medicare and Medicaid, their access to clean water and air, and their protection from unsafe workplace environments.” And J.D. Kasman of South Carolina shared: “Appointing a climate-change denier to head the most powerful environmental position in government is a clear indication that the Trump regime’s objective is to promote economic interests at the expense of our quality of life and the survival of our planet.”

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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