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

The Wall Street Journal
Good morning,
Spending Showdown
The next battle in Washington looks likely to be a fight over spending. Following the failure of the Republican health-care bill, President Trump and GOP leaders face stubborn opposition in both parties over the federal budget. Republicans worry they will need more Democratic support than previously expected to pass necessary legislation to avert a partial government shutdown by the end of April, when current funding expires. For Democrats, success in sticking together against the health bill has reduced the incentive to compromise with Republicans. Lawmakers have only 12 legislative workdays before the April 28 deadline to pass a spending bill or trigger the shutdown.


Persia Beckons
After years staying out of Iran, Western businesses are bursting through the country’s doors—but U.S. companies are noticeably absent. Dozens of deals have been hammered out since Iran’s nuclear accord with world powers in 2015 lifted a range of sanctions. Among them, France’s Peugeot and Renault are building cars and major oil companies have signed provisional agreements to develop energy resources. But while Chicago-based Boeing last year got the go-ahead to sell 80 aircraft valued at $16.6 billion to Iran, deals involving U.S. businesses are few and far between. They risk losing out in a promising market of 80 million people, where European and Asian companies are skirmishing to gain an edge on more-cautious U.S. competitors—though as latecomers, U.S. companies likely won’t face a learning curve in dealing with Iran’s political risks and bureaucratic difficulties.
Amazon is facing a setback in its brick-and-mortar effort as technical glitches delay its first cashierless convenience store, Amazon Go. Launched in beta mode to employees in December, it was due to open to the public by the end of this month, but the opening date is now unclear as the company works out kinks in the technology. It is meant to charge customers automatically when they leave, but it has trouble tracking more than about 20 people unless they move slowly, and keeping tabs on items if they’re moved from a specific spot on the shelf. The delay highlights new challenges faced by the retail giant, which has limited experience anticipating and managing the flow of customers and products in a physical space.
Nuts for Coconuts
If you feel like everything is starting to taste like a piña colada, it isn’t just you. Coconut is in everything. Packaged soups, baby foods and snack foods are made with coconut oil, flour and shavings. Gyms are stocking coconut water. For some, coconut oil is a substitute for butter on popcorn, and coffee shops are spooning it liberally into blended lattés. Coconut has exploded in popularity in part because consumers no longer worry about the fat content; indeed, it is increasingly promoted as healthful: Coconut sugar has a lower glycemic index than ordinary sugar, meaning less of a spike in blood sugar, which may help stave off hunger. We take a look at what’s behind the tropical trend.
Madame Frexit
That Was Painless
Far-right French presidential candidate Marine Le Pen has sought advice from “Les Horaces,” a group made up of bankers, executives and government officials—that is, the very establishment she rails against.

Trump Son-in-Law Jared Kushner Met Chief of Sanctioned Russian Bank

Devin Nunes’s White House Meeting Prompts Call for Him to Step Aside From Probe

Russian Opposition Leader Alexei Navalny Receives Jail Term

U.S. Boosts Military Backing for Saudi-Led Coalition in Yemen

More Chinese Consumers Say No to Fake Goods

Uber Resumes Self-Driving-Vehicle Program After Arizona Accident

Forget Trump v. Congress. The Real Political Danger’s Still in Europe

‘Project Scalpel’: Behind Big Banks’ Plan to Save $2 Billion
$81 million
The amount for which Pacific Investment Management Co. settled a breach-of-contract suit filed by former star manager Bill Gross, ending a feud that shook the investing world.
In my field, there is no guarantee of landing a high-paying job out of college, so the prospect of having at least some of my loans paid is a real relief.
Natalie Dunn, a 20-year-old junior studying radio broadcasting, on her reason for choosing Adrian College, one of about 100 schools that guarantee to cover some or all of a student’s loan payments depending on earnings after graduation.
What are your thoughts on colleges’ providing loan guarantees to students? 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 whether the time is right for a stock-market correction, David Lazarus of New Jersey said: “Stock markets rarely do what the majority of investors want, so a vast consensus desiring a correction is probably just wishful thinking by underinvested hedge-fund managers.” Rich Irwin of Ohio wrote: “I think it is never the right time for a correction, but they are necessary…Moreover, corrections are a sign of a healthy stock market in that we see a risk and reward dynamic in action and the freedom to experience the consequences of our decisions.” And Massimo Piras of Belgium weighed in: “As it becomes clearer and clearer that Mr. Trump’s fiscal stimulus will take time to work its way through the economy, it will become harder and harder for U.S. equity markets to justify current elevated valuations. All the more so when one takes into account the many important uncertainties around the world, with Mr. Trump being a key one!”

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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