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

The Wall Street Journal
Good morning from Davos, Switzerland, and the first day of the World Economic Forum. My special additional daily 10-Point newsletter about the news and events here will be published later today.
On the Borderline
President-elect Donald Trump has criticized a cornerstone of House Republicans’ corporate-tax plan, known as border adjustment. The measure would tax imports and exempt exports—a plan Mr. Trump called “too complicated.” The apparent divide between the president-elect and congressional allies underscores the challenge he will face advancing his agenda, and in particular his planned tax cuts. Overseas officials are wary of potential rifts as well. European leaders called for unity after recent comments by Mr. Trump that they feared could herald a break with decades of support from Washington for European integration and the trans-Atlantic alliance. Meanwhile, China has called for a study on the impact of a trade war, bracing for an incoming U.S. administration that appears determined to shake the foundations of U.S.-China relations.

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Scandal in South Korea
Prosecutors’ decision to seek the arrest of Samsung Group heir Lee Jae-yong on suspicion of bribery and embezzlement threatens to knock one of the world’s biggest companies off course—just as its scion was trying to chart a new path for the conglomerate. The move strikes at the country’s corporate champion, a group that accounts for nearly one-third of South Korea’s stock-market value and is the nation’s biggest exporter. Mr. Lee’s likely arrest could deepen the scandal surrounding President Park Geun-hye, who was impeached last month over allegations that her confidante sought to shake down the country’s biggest conglomerates for donations in exchange for political favors. With Mr. Lee potentially in custody from Wednesday, Samsung faces the prospect of a leadership vacuum that could also put on hold attempts to reorganize the business empire.
Emptying the Nest Egg
The largest generation in U.S. history has to start pulling out its retirement money this year, kicking off a mandatory movement of cash that could total hundreds of billions of dollars in the coming decades. U.S. law requires anyone 70½ years of age or older to make annual withdrawals from their tax-sheltered retirement accounts and pay taxes on those distributions. The oldest of the nation’s 75 million baby boomers are now crossing that threshold. And with boomers holding roughly $10 trillion in tax-deferred savings accounts, according to an estimate by Bank of New York Mellon’s Edward Shane, the obligatory outflows are expected to ripple through the U.S. economy, the stock market and the money-management industry.
Muddled Senses
Affecting at least 4.5% of the population, synesthesia is a trait that merges sensations normally experienced separately. For some, that means seeing a particular color when tasting a food, or tasting a certain flavor when hearing a word. There are more than 100 different types of synesthesia, says Julia Simner, director of the Multisense Synaesthesia Lab and a psychology professor at the University of Sussex in England. Often, individuals will have more than one kind, and it isn’t considered a condition that needs to be cured. In fact, most people with synesthesia actually report deriving pleasure from it. For many, it can be helpful in remembering a phone number or name or even inspiring artistic work.
TODAY'S VIDEO
Hunting for Roadkill
That Was Painless
Scientists are among the hundreds of people who scour the nation’s highways and streets for roadkill, using it as a cheap forensics tool to study changes in habitats, migration patterns, genetics and the spread of disease.
TOP STORIES
U.S.

Wife of Orlando Gunman Omar Mateen Arrested in California

Fed Officials See Less Need for Tax and Spending to Boost Short-Term Growth
WORLD

Three-Year Search for Malaysia Airlines Flight 370 Ends Where It Started: Shrouded in Mystery

Theresa May to Seek Clean Brexit From EU
BUSINESS

General Motors Plans at Least $1 Billion in Fresh U.S. Investment

British American Tobacco Agrees to Pay $49 Billion to Take Full Control of Reynolds American
MARKETS

Pound Drops to 31-Year Low Against Dollar

Single Stock Sends China Shares Tumbling in Chain Reaction
NUMBER OF THE DAY
0
The votes that new investors will get with shares purchased in Snap’s initial public offering, according to people familiar with the matter. With the company’s decision to sell nonvoting shares, co-founders Evan Spiegel and Bobby Murphy are expected to hold more than 70% of the voting power despite owning only about 45% of the stock.
QUOTE OF THE DAY
We underestimated the differences of the culture and the business model.
Lenovo CEO Yang Yuanqing on the challenges of integrating his company with Motorola Mobility, acquired in 2014, and restoring the brand as a global leader in mobile phones.
TODAY'S QUESTION
Going back to our story above, what are you thoughts on Mr. Trump’s criticism of the House Republicans’ border-adjustment plan? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Cynthia Lin
READER RESPONSE
Responding to Friday’s question on the investigation of the FBI’s handling of the Clinton email case, William Wood of California said: “This examination will be performed in a supercharged political environment. The possibility any results will actually reveal the truth is somewhere between remote and doubtful. The price tag will be huge.” Daniel Souza of Connecticut wrote: “If indeed a nonpartisan and objective investigation is conducted by the inspector general and the results from it are made public, it would be a refreshing breath of fresh air for the public as everyone is befuddled and confused by the strange and seemingly inexplicable behavior of FBI Director [James] Comey at a crucial time in the election that so seriously affected its outcome.” Susan Andrews of North Carolina weighed in: “Director Comey had no way to win…he proceeded to do what he thought was right given the whole history of the Clinton email debacle. I absolutely do not agree that the reopened investigation is what torpedoed the Clinton campaign.” Larry Jelsing of Washington shared: “The Comey investigation will never have meaningful results, except to generate media coverage to keep the mantra of an illegitimate presidency in the news. I am no Trump fan, but I am counting the days.”

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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