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

The Wall Street Journal
Good morning,
Low Fidelity
As allegations about Hollywood producer Harvey Weinstein proliferate, the focus on some men’s intolerable behavior with women at work has sharpened. All kinds of companies find themselves under scrutiny. The fallout from recent claims of sexual harassment and bullying continues especially at Fidelity Investments. The firm is working to address long-simmering problems with conduct following the ouster of some of its high-profile employees. In the latest known move, Fidelity pushed longtime employee C. Robert Chow, 56 years old, to resign earlier this month, amid allegations that he made inappropriate sexual comments to colleagues. Mr. Chow’s abrupt exit follows our report that Fidelity also fired a star technology-fund manager accused of sexual harassment. The mutual-fund giant has hired a consulting firm to review employee behavior, including within the stock-picking division. We report that complaints of abusive behavior have led to firings of at least three portfolio managers over the past six years. A 2015 internal report warned of cultural problems particularly adverse for women.

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The Base and the Leadership
President Trump is siding with Republican Senate incumbents in key re-election races, potentially putting him on a collision course with Steve Bannon, the onetime White House chief strategist who has declared a “season of war” on their party’s establishment. The two men have praised each other in public but behind the scenes have been unable to agree on how to proceed in some Senate races. In a speech on Friday, Mr. Bannon described Mr. Trump as “an instrument” in a larger movement, instead of the leader of one. In Washington, Mr. Trump has shown a willingness to protect sitting senators: Last week he phoned at least three incumbents and committed his support. By contrast, Mr. Bannon is turning Senate Majority Leader Mitch McConnell’s leadership into an intraparty political issue and continues to court primary challengers across the country.
The Fugitive
China’s hunt for Guo Wengui, a wealthy businessman who fled the country in 2014, kicked off a Manhattan caper worthy of a spy thriller earlier this year. We report that Mr. Guo was in his apartment in the Sherry-Netherland Hotel on New York’s Fifth Avenue when officials from China’s Ministry of State Security arrived, urging him to quit his activism, including his repeated allegations of corruption against senior Chinese officials, and return home. The Chinese officials, who were in the U.S. on visas that didn’t allow them to conduct official business, caught the attention of the FBI, which wanted to move against them. From President Trump’s initial interest in helping the Chinese government by deporting Mr. Guo to a standoff at John F. Kennedy International Airport, the episode lays bare broader divisions within the Trump administration over how to handle the U.S.’s top economic and military rival.
America’s Favorite
A World Series of insufferable coastal elites won’t happen, spoiled by the Houston Astros, who sent the New York Yankees stumbling home Saturday with a shutout in Game 7 of the American League Championship Series. Instead of Yankees and Los Angeles Dodgers fans smugly celebrating a return to their heyday, the Dodgers will face a Houston club that won 101 games during the regular season and features some of the best talent in the game. The question, according to sports columnist Jason Gay: Can baseball deliver another revival moment? This has become the time of year when we are accustomed to pronouncing the sport’s decline, pointing to its shrinking TV ratings. But with football wilting under the spotlight lately, can baseball seize the opportunity?
TODAY'S VIDEO
Ghost Submarines
That Was Painless
The U.S. Navy is engaged in a technology-fueled game of hide and seek, hunting for stealthy Russian submarines such as the Krasnodar, aka the “Black Hole.”
TOP STORIES
U.S.

Hit Hard by California Wildfires, Santa Rosa Faces Housing Crisis

Health Advocates Gear Up for Open Enrollment
WORLD

Crisis Deepens as Madrid Moves to Seize Control of Catalan Government

Japan’s Abe Cements Hold on Power With Election Win
BUSINESS

Tesla Strikes Deal With Shanghai to Build Factory in China

Potlatch Nears Deal to Combine With Deltic Timber in Stock Swap
MARKETS

ECB Taper Promises to Set Off Ripples Across Many Markets

Qatar Makes Sudden Accounting Change Ahead of Bond Sale
NUMBER OF THE DAY
$247 billion
Volumes of CLOs, or collateralized loan obligations, in the first nine months of the year—a record as investors hungry for returns pile back into securities once tarnished by the 2008 global financial crisis.
QUOTE OF THE DAY
We need to gain the understanding of the public.
Japanese Prime Minister Shinzo Abe on winning a strong new mandate from voters in a national election, a result he indicated would embolden him to push for the first changes to the country’s constitution since it was introduced in 1947.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the rift between President Trump and Mr. Bannon? 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 Secretary of State Rex Tillerson’s comments on his working relationship with President Trump, John Stammreich of California wrote: “Sounds like a perfect match! The last eight years have caused a feeling of hopelessness for the forgotten middle class but triage has to be balanced by understanding the long-term effects of needed short-term actions. We need both quick action and long-term solutions.” Paul Dembry of California commented: “Mr. Tillerson’s comment about being comfortable with thinking 10-20 years ahead is why he is a good fit for secretary of state. That and knowing when to walk away from negotiations are very important qualifications for a secretary of state, which have been sorely lacking in recent secretaries.” And Harris N. Miller of Virginia said: “The unkindest cut of all. The president does not have the intelligence to think beyond the next five minutes, and no understanding of how mistakes he makes now can have extensive negative repercussions in the future.”

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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