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

The Wall Street Journal
Good morning,
Fox Hounds
New suitors are circling 21st Century Fox, affirming that the media empire built by Rupert Murdoch is now in play. Comcast has expressed interest in buying a substantial piece of the media company and Verizon is also kicking the tires on Fox assets, though a person familiar with its thinking cautioned the exploration was in the early stages. Sony’s entertainment unit has also informally approached Fox. The takeover interest in 21st Century Fox gained steam after news last week that Disney recently held talks with the company but failed to reach a deal. The assets Fox is discussing with potential suitors include the Twentieth Century Fox studio, some U.S. cable networks and the international business. Fox News, the Fox broadcast network and the company’s sports channels haven’t been part of the talks. Any deal would be sizable: 21st Century Fox has a market capitalization of about $54 billion.

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Out of the House
The House of Representatives passed a bill that would usher in the most far-reaching overhaul of the U.S. tax system in 31 years, a plan that would reduce the corporate tax rate to its lowest point since 1939 and cut individual taxes for most households in 2018. The bill would repeal the alternative minimum tax, increase the child tax credit, abolish the estate tax by 2025 and transform the U.S. system for taxing multinational corporations. On the whole, it would reduce federal taxes by $1.4 trillion over the next decade. The 227-205 House vote was a victory for Speaker Paul Ryan and President Trump, who rallied Republicans in the Capitol before the vote. However, there are warning signs as the focus in Washington turns to the Senate’s companion bill because of controversy over new limits on state and local tax deductions.
Fresh Results
Wal-Mart is holding its ground against Amazon. The world’s biggest retailer Thursday posted its strongest quarterly U.S. sales growth in nearly a decade, buoyed by a big jump in e-commerce and increased store traffic at a time when many traditional retailers are struggling. Wal-Mart shares gained nearly 11% after the company reported the earnings and have risen 44% so far this year. The fiscal third-quarter results bucked a string of mostly downbeat reports from retailers this week, including Target. Wal-Mart has focused on improving its food business, and in the wake of Amazon’s Whole Foods acquisition earlier this year has ramped up efforts to let shoppers order groceries online. Its grocery business delivered the strongest quarterly same-store sales growth in more than five years, including sales from online grocery pickup.
From Age to Age
Multigenerational living is on the rise in the U.S., as are large compounds of separate buildings for just one family. But architects and home builders are noting the emergence of requests by siblings for separate homes on the same property, usually divided. Whether built on land left to them by parents or property purchased by one or both, these brothers and sisters are homesteading together, but apart. Having separate houses can alleviate some of the stresses associated with living together. Most notably, it allows for distinct financial responsibilities and more privacy. Conversely, living in close quarters poses the danger of magnifying decades-old sibling jealousies and tensions. We spoke with several sets of siblings who choose to be neighbors.
TODAY'S VIDEO
Let Me Google That
That Was Painless
Google handles 90% of the world’s internet searches, and it increasingly is promoting a single answer for many questions. Even subjective or unanswerable queries sometimes get seemingly definitive answers. Here’s how the algorithms are—and aren’t—working.
TOP STORIES
U.S.

Affordable-Housing Production Under Threat in Tax-Overhaul Proposals

Special Counsel Mueller Issued Subpoena for Russia-Related Documents From Trump Campaign Officials
WORLD

Military, Mediators Talk to Mugabe on Zimbabwe’s Future

Pentagon Moves to Develop Banned Intermediate Missile
BUSINESS

Meredith Has Submitted a Bid for Time Inc. of $17 to $20 a Share

Tesla Reveals Semi Truck With 500-Mile Range, New Roadster Car
MARKETS

Is Leonardo da Vinci’s ‘Salvator Mundi’ Worth $450 Million or $454,680?

Asia’s Bond Market Hits a Rough Patch
NUMBER OF THE DAY
$350 million
BuzzFeed’s revenue target for this year. The digital publisher is expected to fall short of that figure by about 15% to 20%, the latest sign that troubles in the online-ad business are making it tough for new-media upstarts to meet lofty expectations.
QUOTE OF THE DAY
The first thing I want to do is apologize: to Leeann, to everyone else who was part of that tour, to everyone who has worked for me, to everyone I represent, and to everyone who counts on me to be an ally and supporter and champion of women…I respect women. I don’t respect men who don’t. And the fact that my own actions have given people a good reason to doubt that makes me feel ashamed.
Sen. Al Franken apologized after Leeann Tweeden, a model and broadcast host, said he kissed her against her will during a 2006 rehearsal and posed for a photo in which he appeared to grope her while she was asleep. Mr. Franken also said that he didn’t recall the rehearsal events the same way, and that the photo was a failed joke and he “shouldn’t have done it.”
TODAY'S QUESTION
Going back to our story above, what are your thoughts on BuzzFeed’s expected miss of its 2017 revenue target? 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 yesterday’s question on the recent events in Zimbabwe, Philip Gianas of Arizona shared: “My uncle Lyon’s farm in Africa was confiscated in 2002 by Robert Mugabe under the false promise of returning land to Zimbabweans. The real outcome was devastating not only to my uncle who was violently evicted, but to the dozens of Zimbabweans who lived and worked on the farm, and countless others who benefited from the economy built around it. The buildings were burned, equipment was destroyed, animals were killed, and the land was left to deteriorate into permanently barren acres of dirt. Whether or not one agrees with Mr. Mugabe’s vision for Zimbabwe, the people of that once bountiful country never prospered from his nationalist populism.” Russ Gibson of Iowa said: “I am glad that steps have been taken to remove Mr. Mugabe from power, and in a seemingly non-bloody and nonviolent way. Nearly 40 years of being in power is too long. At the same time, I worry about the power vacuum and who will fill it, as well as the consequences for ordinary residents in Zimbabwe.” And Joe Ely of Indiana wrote: “I traveled and worked in the Zimbabwe countryside in the years of struggle before Mr. Mugabe’s takeover. His collectivization of a vibrant agricultural juggernaut drove millions into famine and poverty. At last, he appears to be on his way out. The question remains, however, as it always does in Africa: Is the replacement government better? Zimbabwe would be wise to look to their neighbor Botswana for a better model.”

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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