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

The Wall Street Journal
Good morning,
Gerard Baker is away. Today’s 10-Point is by Deputy Editor in Chief Matt Murray. Follow him on Twitter @MurrayMatt.
The Way the Cookie Crumbles
Activist investor William Ackman has built a $5.5 billion stake in Mondelez and will argue that the maker of Oreo cookies and Ritz crackers needs to cut costs and grow revenue, or sell to a rival like Kraft Heinz. For Mondelez International and its chief executive, Mr. Ackman’s investment is the latest jolt in a yearslong roller-coaster ride of activism and corporate restructuring. Kraft Heinz completed its combination in early July, just over two years after 3G Capital Partners and Warren Buffett’s Berkshire Hathaway took control of Heinz. Were a sale to materialize, it would be one of the biggest in a string of mergers in the food industry in the past two years.
Give Peace a Chance
In a nearly hourlong speech, President Barack Obama delivered a detailed defense of the nuclear deal with Iran. He argued that the agreement presents Congress with a fundamental choice between war and peace. Iran so far has refused to allow U.N. inspectors to investigate allegations that Tehran maintained a covert nuclear-weapons program, the head of the U.N.’s nuclear watchdog said. Meanwhile, all eyes will be on the first round of debates in the GOP primary race on Thursday night. Campaign staffers will have their hands ready to use social media ads to amplify their boss’s message—or someone else’s gaffe.
Tragedy Confirmed
An aircraft part that washed ashore on an island in the Indian Ocean last week is from the long-missing Malaysia Airlines Flight 370, Malaysian officials confirmed yesterday. The development marked the first concrete evidence of the plane which went missing 17 months ago, even though the reason why it crashed still remains unanswered. Families of the 239 people on the plane were devastated by the confirmation that for the first time a part of the jet had been found. “It does not mean it will give me closure,” said the wife of a cabin crew member, adding that she regrets she won’t be able to give her husband a proper funeral. Here’s what we know so far about the missing flight.
Summer in Paris
Looking for cheap flights to Europe? Carriers like Germany’s Condor Airlines are launching discount international flights at smaller U.S. airports, says our Middle Seat columnist Scott McCartney. Low-cost European carriers are bringing back low fares to European trips. Fares on big-city routes have been particularly high as big airlines have refrained from adding flights to meet increasing demand. The alternative flights, meanwhile, come at a golden time for travel to Europe; with the value of the euro low, U.S. travelers there enjoy prices much lower than in previous years.
TOP STORIES
U.S.

A Year Later, Ferguson Takes Steps, but Progress Is Slow

Appeals Court Ruling Sets Higher Bar for Cellphone Searches
WORLD

Japan Remembers Hiroshima Bombing With Call to Abolish Nuclear Arms

China Official Says Island-Building Has Stopped in Disputed Seas
BUSINESS

Surge in U.S. Car Recalls Continues

Cord-Cutting Weighs on Pay TV
MARKETS

Irwin Lipkin Sentenced to Six Months in Prison in Madoff Case

SEC Tries Flipping Witnesses
TODAY'S VIDEO
Beheaded Robot Causes Social Media Outrage
That Was Painless
It traveled safely across Canada, Germany and the Netherlands, but the robot dubbed hitchBOT met its demise over the weekend in Philadelphia. Photo: hitchBOT
NUMBER OF THE DAY
70%
The decline in the price of silver from a three-decade high of $48.599 an ounce hit in April 2011. Once prized as a precious metal that could be put to practical use, silver is now getting the worst of both worlds, with demand for the metal as an investment in its own right falling as its industrial uses also contract.
QUOTE OF THE DAY
I can’t wait for the debate…I just want to know what the candidates have to say, especially the rich guy, the billionaire.
Norma Perez, 52 years old, of New York City said she doesn’t like Donald Trump “at all” but wants to see if he will apologize for anything.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on President Obama’s stance on Iran? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Khadeeja Safdar
READER RESPONSE
On Jeb Bush’s Wall Street experience, Michael Lane of Florida wrote: “Jeb took a real job. Certainly his ability to open doors was a factor. However, that appears to have been predominantly in business. Further refreshing that he would not use his influence in Washington. He appears to also have added value versus taking a handout. This is unlike typical engagements for politicians as speakers or lobbyists.” Barbara Russell of New Hampshire commented: “His counsel and advice to Lehman is not something to brag about.” From North Carolina, Slade Howell wrote that “the best defense is a good offense, which in this case will require Mr. Bush to produce his best communication skills or be profiled as just another Wall Streeter.”
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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Copyright 2015 Dow Jones & Company, Inc. All Rights Reserved.   

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