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

The Wall Street Journal
Good morning,
Out Like Flynn
The White House is reviewing whether to retain National Security Adviser Mike Flynn amid an intensifying controversy over his contacts with Russian officials before President Trump took office. Mr. Flynn has apologized to White House colleagues over the episode, which has created a rift with Vice President Mike Pence, who publicly vouched for Mr. Flynn, a White House official said. Mr. Trump’s views toward the matter aren’t clear. In recent days, he has privately told people the controversy surrounding Mr. Flynn is unwelcome but also has said he has confidence in the retired general. Mr. Flynn initially said that in a conversation Dec. 29 with the Russian ambassador, Sergey Kislyak, he didn’t discuss sanctions imposed that day by the outgoing Obama administration, which were levied in retaliation for alleged Russian interference in the 2016 presidential election. Mr. Flynn now concedes that he did, administration officials said. Meanwhile, Mr. Trump faces another test following North Korea’s weekend launch of a ballistic missile, the first major challenge to the Trump administration by a foreign leader.


Snap Judgment
Snap, parent of the hot disappearing-message app Snapchat, has a lofty valuation, hordes of coveted young users and social cachet. It also has a lot of Wall Street investors who aren’t buying the hype. Ahead of the company’s pitch for its initial public offering, which could value it at $25 billion, investors are taking a sober look at the numbers. Among their concerns: a slowdown in daily user growth, competitors such as Facebook and the implications of near-total control that Snap’s founders will have post-IPO. On Snap’s side is scarcity—2016 was the slowest year for U.S.-listed tech companies since 2009 in terms of number of deals and dollar volume. That factor alone could help support the shares in their debut. Snap’s roadshow could start as soon as Friday.
Change of Data Plan
Verizon will start selling unlimited data plans today, the first time it has offered such a service since 2011 and a sign that intense competition is forcing the nation’s largest carrier to respond. Sprint and T-Mobile have been chipping away at Verizon’s customer growth, thanks in part to those carriers’ aggressive pricing for unlimited data. Last year, AT&T started offering unlimited data plans to customers who also sign up for its DirecTV satellite service. The new plan is a stark change in strategy for Verizon, which has spent years trying to get customers to pay for data based on usage and recently raised prices on certain fees. Last month, Verizon’s finance chief, Matthew Ellis, said on a conference call with analysts that unlimited data plans were “not something we feel the need to do.” The company recently cautioned that profit and sales growth this year will be flat from 2016.
Hello, It’s Me
British megastar Adele swept the 59th annual Grammy Awards yesterday evening, winning three of the top prizes with album of the year for “25” and song and record of the year for hit single “Hello.” Organized by the Recording Academy and emceed by “Late, Late Show” host James Corden, the show opened fittingly with the 28-year old chanteuse singing “Hello.” Adele’s rival in the top three categories, R&B queen Beyoncé, flaunted her pregnant belly in a sheer, sparkling gold gown and a halo-like headdress as she performed an ode to motherhood. It was Chance the Rapper’s win as best new artist that may have the most impact on the music industry. His mixtape “Coloring Book,” which was also awarded best rap album, was first released only on Apple’s streaming service Apple Music and still isn’t for sale as a CD or even a download in Apple’s iTunes Store.
India Goes Cashless
That Was Painless
A band of self-proclaimed patriots in India is urging millions of countrymen to give up cash and use e-payments instead, to support Prime Minister Narendra Modi’s campaign to fight counterfeiting and tax evasion.

Speed Limits on Trump’s Infrastructure Drive: Federal Laws, Rare Species and Nimbys

Thousands Evacuated as California Dam’s Spillway Threatens to Fail

Mexican Presidential Hopeful Wins Support With Trump Stance

Trump-Trudeau Meeting Will Preview Trade, Border Issues

Biggest Driver of Cleaner-Car Rules Is California, Not Washington

Consumers Are Going to Love the End of Net Neutrality—at First

Gary Cohn Has Emerged as an Economic-Policy Powerhouse in Trump Administration

A Look Back at Abby Joseph Cohen’s Calls at Goldman
$2.6 billion
The value of new assets the Dow ETF has pulled in so far this year, more than any other U.S. stock exchange-traded fund. Strategists say that the Dow’s quirky composition of 30 stocks is uniquely placed to excel in the current environment.
My surprise in retirement was discovering the unexpected luxury of time.
Vicki Robb, a retired real-estate agent in La Jolla, Calif., on having time for slow cooking and art classes. We asked readers to tell us about the things they didn’t anticipate when they stopped working.
Returning to our story above, what are your thoughts on Snap’s IPO? 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 the appeals court ruling on Mr. Trump’s immigration order, George McNeill of Florida said: “We can be grateful for the judiciary doing their part to protect the rule of law. With the Congressional majority positively giddy over having a Republican in the White House, we can depend on them, as a group, for nothing in the way of oversight.” Eileen Williams of Connecticut wrote: “It’s too bad that the new administration did not present the order differently from the start. The public heard a little too late that the ban only affects certain countries and in actuality a small amount of Muslims. However, we are seeing people’s emotions from Los Angeles to New York being fueled by fear. ...The ban is temporary and vetting is something we as a free country are entitled to implement. Americans tend to be naive when it comes to issues of security. If I knew someone personally affected by the ban, granted, I might feel more emotional myself, but as it is I think we should give the new administration a chance.” And Paul Kahle of California weighed in: “The court has no business involving themselves in this nor do the states which brought the case. The Constitution clearly stipulates who has the power where immigration is concerned.”

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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