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

The Wall Street Journal
Good morning,
To-Do
Congress returns Tuesday from its summer break and, in a test of the fragile relationship between President Trump and Senate Republicans, faces challenges that include keeping the federal government operating, avoiding default and passing a hurricane-aid bill. The list is long, and the time is short. The House is scheduled to vote Wednesday on the Trump administration’s request for $7.85 billion to begin paying for recovery from Hurricane Harvey. Expiration of the government’s current funding is coming up Oct. 1, and looming above everything is the debt ceiling, which Congress must raise if the U.S. is to continue paying its creditors. On top of that, Congress is going to take another shot at an Obamacare overhaul and is expected to take up proposals for big changes in the tax code. Adding to the tension, the House and Senate are in session at the same time for just 12 days in September, and Mr. Trump and Senate Majority Leader Mitch McConnell haven’t met in weeks.

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Drumbeat
The busy congressional fall agenda may be eclipsed by something much more consequential—the gathering crisis on the Korean Peninsula. South Korea warned that North Korea appears to be preparing to test another intercontinental ballistic missile, and the U.S. told the United Nations that the regime is “begging for war” after Pyongyang on Sunday set off its most powerful nuclear bomb yet. At an emergency meeting of the Security Council on Monday, U.S. Ambassador to the U.N. Nikki Haley called for “the strongest possible measures” against North Korea and said the U.S. is circulating a resolution for new sanctions, seeking a Sept. 11 vote. But while France, the U.K., Japan and South Korea back further sanctions, China and Russia emphasized direct talks. The two countries earlier proposed paving the way by having North Korea suspend its military and nuclear program in exchange for a U.S. suspension of military exercises on the peninsula—an approach Ms. Haley called “insulting.”
Dream Deferred
President Trump is expected Tuesday to announce the end of a program that protects from deportation people who came to the U.S. without legal documentation before they were 16 years old. But he will likely delay implementing his decision for as long as six months—setting up a scramble among Republicans. Some want to pass legislation to preserve the protections provided by the Deferred Action for Childhood Arrivals program, others want to end them and still others see DACA as a chip to use in bargaining for goals such as funding for the proposed border wall with Mexico. The timing of the president’s announcement is tied to a deadline set by a coalition of 10 states threatening to sue the administration over the program, which was created by President Obama.
New Look
On opening night of New York Fashion Week on Thursday, Calvin Klein is hoping to prove that its much-lauded new luxury line is more than just a one-hit wonder. Better known for its midprice signature underwear and jeans sold at Macy’s and Lord & Taylor, the nearly 50-year-old label is working hard to win over the Barneys shopper, too. Last year it hired acclaimed fashion designer Raf Simons to lead what Chief Executive Steve Shiffman calls a “creative revolution,” and this coming second show under Mr. Simons needs to prove the buzz is sustainable. We report that the American fashion industry is counting on Calvin Klein to give Fashion Week a much-needed boost, and the global industry is closely watching.
TODAY'S VIDEO
Back to School
That Was Painless
The past week has been a time of harsh reckoning and frantic planning for school officials across southeast Texas, as they assess Hurricane Harvey’s toll on school buildings and impact on at least one million schoolchildren.
TOP STORIES
U.S.

Houston’s Environmental Threats Come Into Focus

Interior Secretary Zinke Connects With Local Communities in Protected Lands
WORLD

Trade Warning to China Over North Korea Carries Risks to U.S. Economy

Mosul Emerges From Islamic State, One Business at a Time
BUSINESS

Google Builds China Workforce to Develop Artificial Intelligence

Pentagon Faces Delays in Shift Away From Russian Rocket Engines
MARKETS

BlackRock Bets on Cross-Selling Blitz

China Bans Digital Coin Offers as Celebrities Like Paris Hilton Tout Them
NUMBER OF THE DAY
$23 billion
The price industrial conglomerate United Technologies agreed to pay for airplane-parts maker Rockwell Collins, in the biggest aerospace deal in history.
QUOTE OF THE DAY
The only word I can use that is appropriate is ‘disappointing.’ There are many other things I could say, but that’s the word I’ll use.
Procter & Gamble Chief Executive David Taylor on efforts by former P&G finance chief Clayton Daley to win a board seat for activist investor Nelson Peltz. The boardroom fight over how best to reinvigorate the consumer-products giant is pitting Mr. Daley against his successor—and onetime protégé—Jon Moeller.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on Mr. Trump’s DACA announcement? 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 Friday’s question on Wells Fargo’s sales-practices scandal, Rick Hays of Montana wrote: “This latest announcement, probably not their last on the issue of customer abuse, is compelling evidence that big banks have outstripped the capabilities of regulators or even their own auditors to properly manage. This continues to reinforce why customers should do business with their local banks, where they know the people, rather than some multinational behemoth.” Tom Lott of Nevada commented: “I think the broader lesson is when a company (or any entity) sets up incentives and the employees track the results, they open themselves up to gaming the system. There needs to be an auditor in charge to report results. To keep the fox out of the hen house, so to speak.” And William R. Wing of Tennessee said: “The old aphorism that ‘a fish rots from the head’ may be applicable here. Management emphasis, philosophy and style tend to get amplified as they move down the chain. Any CEO who doesn’t appreciate this (or worse, who does) shouldn’t be surprised at the results.”

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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