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

The Wall Street Journal
Good morning,
Have a Seat
Bowing to mounting pressure, General Electric is giving activist investor Trian Fund Management a seat on its board as it seeks to revamp operations and revive its slumping stock price. The concession comes a week after GE’s longtime leader, Jeff Immelt, resigned as chairman and left the company’s board. Since taking over as CEO on Aug. 1, John Flannery—now chairman as well—has been breaking aggressively with the past; Friday he replaced three top executives, including the finance chief. For Trian, GE’s decision comes a day before the expected conclusion of the largest proxy battle in history: its high-profile fight to win its co-founder Nelson Peltz a board seat at Procter & Gamble.


Greenback in Fashion
Investors are buying the U.S. dollar again, expecting a lift from an increasingly aggressive Fed and tumult in European politics, while those betting against the dollar have cut back their positions. After its longest slide in a decade, the dollar has bounced roughly 2.9% from its September lows against a 16-currency basket, powered by gains against the euro, yen and emerging-market currencies. The recovery is yet another in a series of financial-market surprises this year, and while few investors believe the woes are over for the dollar—still down 6.4% against the basket in 2017—even a temporary reversal could have widespread implications for asset markets.
Magic Number
America’s retailers have a new target customer: the 26-year-old millennial. That age bracket, bigger than any other—numbering 4.8 million—is part of a generation radically different from its predecessors that is pushing brands to develop new products and overhaul marketing. Many millennials are on the verge of life-defining moments such as buying a house and having children. But companies looking to be part of that have run into a problem. “They’re much more of a ‘do-it-for-me’ type of customer than a ‘do-it-yourself’ customer,” says Joe McFarland, executive vice president of J.C. Penney stores. In response, companies including Home Depot and Sherwin-Williams are hosting classes and online tutorials to teach such basic skills as operating a lawn mower, tape measure, mop and hammer.
Follow Your Instincts
When weighing a big decision, is it safe to just go with your gut? Scientists, authors and motivational speakers (plus plenty of moms) have long touted the power of intuition—and many studies show that decisions made unconsciously, before the rational mind can get involved, are often better. But not always, says John Bargh, a psychology professor at Yale and director of the ACME (Automaticity in Cognition, Motivation, and Evaluation) Laboratory. The gut is good, for example, with complex decisions when the amount of information is overwhelming, but it can also push us to be impulsive. How to best use your intuition? We offer pointers—including to remember that it can be influenced by strong emotions.
Danger in the Details
That Was Painless
Within North Korea’s boastful photos and videos of its missiles are tiny clues to the country’s true capabilities. A team of U.S. analysts, working outside the government, shows how they decode these images to determine when North Korea is bluffing—and when it is showing true power.

EPA to Withdraw Power Plant Rules

Donald Trump, the President Without a Party

Japan’s New Satellite to Help Keep Self-Driving Cars—and North Korea—In Line

U.K., EU Disagree Over How to Get Out of Brexit Stalemate

As Its Namesake Founder Becomes a Liability, Weinstein Co. Weighs Name Change

Google Unearths Russia-Backed Ads Related to U.S. Politics on Its Platforms

The False Prophet of ‘Long-Term Investing’

Brexit Clearing Battle Heats Up as Germany’s Eurex Makes Profit-Share Move
The death toll as more than a dozen wildfires ravage Northern California, destroying at least 2,000 houses and businesses.
As irrationally as possible.
American Richard Thaler’s quip when asked how he would spend the $1.1 million given for the Nobel Prize in economics. Monday’s award recognized Mr. Thaler’s work upending the longstanding notion that individuals make rational decisions and developing policies intended to nudge people toward wiser choices.
Going back to our story above, what do you think of companies’ strategies for courting millennial customers? 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 Democrats and leaders in Hollywood have been sufficiently critical of Harvey Weinstein, Bernard Levine of Oregon commented: “Mr. Weinstein’s antics were common knowledge in Holier-than-thou-wood for three decades. None of his peers or minions said anything in public. I guess their humble silence had become a habit.” Patty Rasmussen of Georgia wrote: “Of course Hollywood hasn’t been sufficiently vocal about the sordid Weinstein affair. He is accused of doing many of the same things Roger Ailes, Donald Trump, Bill O’Reilly and so many others were accused of doing. I see no difference. Why don’t they? The hypocrisy is almost as breathtaking as Mr. Weinstein’s offenses. Integrity isn’t just doing or saying the right thing when no one else is watching, it’s doing and saying the right thing when it could hurt you financially.” And Shari Reed of New Mexico said: “The news that Mr. Weinstein has sexually bullied women in Hollywood should not come as a surprise. The casting couch is nothing new. The fact that Mr. Weinstein has faced any criticism and lo and behold been fired is refreshing news. Times are changing but the next positive change will be when our public officials face the same kind of scrutiny and dismissal.”

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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