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

The Wall Street Journal
Good morning,
Mike Drop
Mike Flynn, President Trump’s national security adviser, resigned Monday under increasing fire over his conflicting statements about his contacts with Russian officials before the inauguration, the White House said. Mr. Flynn’s resignation was accepted by Mr. Trump after information about his Russia contacts continued to emerge while the president was “evaluating” whether to keep him in his post. The move caps an unusually short tenure in the White House—less than a month—for one of Mr. Trump’s earliest loyal campaign supporters. For a White House that has been in nearly constant damage control, Mr. Flynn was a consistent flashpoint. His departure is likely to intensify congressional calls—especially from Democrats—for further investigations into ties between Russia and Mr. Trump’s team. Keith Kellogg, the chief of staff at the National Security Council who advised Mr. Trump during the campaign, will serve as interim national security adviser.

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Diplomatic Currency
The White House is exploring a new tactic to discourage China from undervaluing its currency to boost exports, part of an evolving Trump administration strategy to challenge the practices of the U.S.’s largest trading partner while stepping back from direct confrontation. Under the plan, the commerce secretary would designate the practice of currency manipulation as an unfair subsidy when employed by any country, instead of singling out China. U.S. companies would then be in a position to bring antisubsidy actions themselves to the U.S. Commerce Department against China or other countries. The move could be a sign the Trump administration is softening its stance on China. Mr. Trump has already backtracked on a threat involving the “One China” policy. But the currency move, if put into effect, is bound to be controversial because it may violate World Trade Organization rules.
Lobby Shopping
Few outside Washington had ever heard of Evan Morris. Yet in the capital of wheeling and dealing, he was one of its most gifted operators. From his start as an intern in the Clinton White House, he made powerful friends and eventually became a top lobbyist for Roche. Now government investigators suspect Mr. Morris embezzled millions of dollars from his company over a decade in a kickback scheme involving Washington consultants he did business with, according to people familiar with the probe by the Justice Department and the FBI. It is shaping up to be one of the biggest U.S. investigations into Washington’s influence business since the bribery and corruption case surrounding lobbyist Jack Abramoff rocked the nation’s capital in the mid-2000s. We chronicle Mr. Morris’s dramatic rise and fall.
Love Finds a Way
Whatever you call February 14 in Saudi Arabia, just don’t call it Valentine’s Day. A celebration named after a martyred Christian saint doesn’t translate well in a conservative kingdom that follows an austere interpretation of Sunni Islam. Religious police prowl for sale items associated with the holiday, which is banned despite its secular makeover in the West over the centuries. Only a fraction of the population knows much about the holiday. But enough, we report, to cause a spike in the sale of love-themed items in Riyadh every year around this time. Valentine’s Day can be brutal for people who are single, but we offer strategies for a memorable holiday, whether on your own or with friends. Psychologists say you need a plan—to pamper yourself, help someone else or otherwise embrace the day.
TODAY'S VIDEO
Fallen Star
That Was Painless
Disney said it was severing ties with Felix Kjellberg, a YouTube star with 53 million subscribers to his “PewDiePie” channel, after he posted videos with anti-Semitic jokes and Nazi imagery.
TOP STORIES
U.S.

Employers Balk at Curbs on Generous Health Plans

Followers of Cattleman Cliven Bundy Face Trials in Armed Standoffs
WORLD

North Korean Leader Kim Jong Un’s Brother Reportedly Killed in Malaysia

Trump Plans Only ‘Tweaking’ of Canada Trade Pact
BUSINESS

Trump’s Trade Policies Worry U.S. Cotton Farmers

‘Buy America’ Push Tests Steel Industry
MARKETS

U.S. Stocks Continue Record Run

The Mexican Peso: A Currency in Turmoil
NUMBER OF THE DAY
$133.29
The all-time closing high hit by Apple shares Monday, as investors bet that the 10th-anniversary iPhone expected later this year will build on renewed momentum at the world’s most valuable company after its worst stumble in years.
QUOTE OF THE DAY
Everything put in the sea has to sink, so it’s much easier to pollute the deepest place in the world than the highest mountain.
Alan Jamieson, a marine ecologist at Newcastle University in the U.K., on his research with colleagues from the University of Aberdeen that shows that industrial pollutants have infiltrated even the deepest pockets of the ocean that humans rarely visit.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the Trump administration’s strategy on China? 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 Snap’s IPO, Malcolm Leigh of Texas wrote: “Cons: tremendous cash burn, no signs of profitability, daily active user slowdown and 89% of voting rights controlled by two people. Pros: 150 million daily active users, high density of young customers, cachet. Verdict: no thanks.” Tyler Kavanaugh of California said: “Snap has eyeballs, and we know that eyeballs drive value. The question will be whether or not they convert the attention into ad-based revenue, or fall flat on their face like Twitter. Their platform is more conducive to advertisements, however, and there is a lot of potential for a platform for publishers to release their stories. Also, advertising through geotags could be a hidden key to unlocking revenue. We’ll see!” And Hank Freeman of New York weighed in: “No voting rights? No strategy? No profits? No thanks.”

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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