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

The Wall Street Journal
Good morning,
Congress Gets to Work
Congressional leaders reached a bipartisan deal late Sunday to fund the government until October, while Republicans scrambled to pull off an even more significant legislative achievement that has eluded them this year: an overhaul of the health-care system. Both President Trump and Vice President Pence suggested on Sunday that they were confident they could win enough votes to pass a bill to undo the Affordable Care Act. But skepticism among centrist members of the party remains a stumbling block, and it is unclear whether congressional leaders have made enough progress to call a roll, as they grapple with Republicans who have expressed concern that recent changes to satisfy more conservative lawmakers may push coverage costs higher. Adding to the difficulties for passing any major piece of legislation is the fact that the administration is also pressing lawmakers to flesh out a massive tax cut that Mr. Trump unveiled last week.


Bottom Shelf
America’s packaged-food giants are losing the battle for retailers’ shelf space, complicating their efforts to break out of a yearslong slump. Instead of promoting canned soup, cereal and cookies from companies like Kraft Heinz, Kellogg and Mondelez, grocery stores are choosing to give better play to fresh food, prepared hot meals and items from local upstarts more in favor with increasingly health-conscious consumers. Traditional packaged-food brands are also facing increased competition from store brands. The shift in shopper preferences started several years ago, but its impact on big food makers is intensifying now because of added pressure from retailers. Mondelez, Kraft Heinz and Kellogg are expected to show the effects of the changing business climate when they report first-quarter results this week.
Apple’s Rich Harvest
Apple is expected to report Tuesday that its stockpile of cash has topped a quarter of a trillion dollars. The unrivaled corporate hoard is greater than the market value of either Wal-Mart or Procter & Gamble and exceeds the combined foreign-currency reserves held by the U.K. and Canada. In the last three months of 2016, Apple racked up new cash at a rate of about $3.6 million an hour. The money, more than 90% of which is stockpiled outside of the U.S., ​has drawn fresh attention as Mr. Trump has proposed slashing business taxes and granting a one-time tax holiday on corporate cash brought home. Those policies could ratchet up pressure on the tech giant to make splashy acquisitions or dole out more money to shareholders.
Mother of Invention
While scientists contend for Nobel Prizes, patents and grants, there is another honor to be had: the title of “father” or “mother” of a new field, tool or technique. As scientific specialties proliferate with new advances, so too, it seems, has the naming of their progenitors. In articles and at awards ceremonies, various scientists are named the father or mother of fields as varied as deep learning, positive psychology and selenium biochemistry. But the titles, generally bestowed by proud institutions or other admirers rather than the scientists themselves, often inspire mixed feelings not unlike the emotions of actual parents. Some scientists spar over the recognition, while others chafe against it.
Tight Security
That Was Painless
A series of recent cyberattacks targeting banks raises questions about the security of Swift, the global messaging network that is the backbone of payment services for more than 11,000 institutions world-wide, including banks and corporations.

Pittsburgh Tries to Avoid Becoming the Next Flint

The 1992 Riots Changed Policing in L.A., but Some Say Not Enough

Trump Invites Philippine Leader Duterte to the White House

Iranian TV Magnate Saeed Karimian Is Killed

Auto Dealers Decide Cars Are Taking Up Too Much Prime Space

As Retailers Race to Close Stores, a Web Startup Is Opening Them

Property Insurers Hit By Worst First Quarter in 20 Years

Sony Finds Success in All the Right Places
$3.2 billion
Market cap of Tribune Media, one of the nation’s largest owners of local television stations, as a possible bidding war is emerging among those hoping to acquire it.
For God’s sake, it’s an offense to Christ, not a tribute.
Augusto Ortiz de Zevallos, a well-known Peruvian architect and urban planner, on what may be the world’s largest unwanted statue: the Christ of the Pacific in Lima, Peru.
Going back to our story above, what are your thoughts on Apple’s cash hoard? 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 Mr. Trump’s decision not to pull out of Nafta, Judson Beck of Wisconsin said: “The president has not decided to remain in Nafta. He has put his decision to drop out on hold while clearly making Canada and Mexico anxious about his intentions. It’s a negotiation and in my view, he’s winning.” David Miller of Michigan wrote: “I breathed a sigh of relief when I heard this news. It is encouraging that Mr. Trump and his advisers are seeing that the world is a very interconnected place and each decision they make impacts many aspects of our lives. Simply following through on campaign promises would create chaos that would be difficult if not impossible to undo.” And Hoagland of Virginia opined: “Mr. Trump has no core beliefs and his positions on the campaign trail were just ploys rather than positions. Americans have no idea of what he actually stands for, and that is unnerving.”

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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