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

The Wall Street Journal
Good morning,
Tossed Overboard
An unusual shakeout at General Electric will remove many long-term associates of former Chief Executive Jeff Immelt from the board, aiming to create one more closely aligned with CEO John Flannery’s streamlining strategy. Half of GE’s 18 directors will lose their seats, while three new members will be added to form a 12-member board. The housecleaning shows the depths of the problems that developed on the board’s watch, prompting investors and analysts alike to question its oversight of management. The share price has plunged 42% this year at the onetime industrial bellwether, which last week slashed profit targets and cut its dividend by half. We look at which directors are likely to depart.

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No Deal
Negotiations to form a government in Germany broke down, dealing a blow to Chancellor Angela Merkel and throwing the leadership and direction of Europe’s largest economy into doubt. Late Sunday, the small, pro-business Free Democratic Party broke off talks with Ms. Merkel’s conservative camp and the center-left Greens after four weeks, saying they had failed to produce the vision and trust needed to build a government among the three partners. The collapse leaves Germany with a caretaker government and Ms. Merkel without a majority in Parliament almost two months after her party’s worst general-election showing since 1949. The political gridlock—a novelty in a country long used to ruling coalitions, compromise and consensus—has thrown Ms. Merkel’s fourth term into question. The euro fell sharply in early trading Monday but later recovered.
Visa Hurdles
The Trump administration is adding hurdles and increasing scrutiny in the employment-visa application process, and companies and immigration attorneys are preparing for more changes soon. President Trump has long campaigned against illegal immigration, but he also backs reductions to legal immigration, arguing that foreign workers provide unneeded competition for Americans. So far, the administration hasn’t enacted wholesale changes, but it is more closely scrutinizing applications for the high-skilled visa program known as H-1B. More than a quarter of applications between January and August were returned via “requests for further evidence,” compared with fewer than one in five a year earlier. Further restrictions are anticipated, and two looming regulatory changes would undo actions by the Obama administration that eased the way for high-skilled workers.
Stack ’Em Up
A funny thing is happening to the most basic building blocks of nearly all our devices. Microchips, usually thin and flat, are being stacked like pancakes, paying unexpected dividends in performance, power consumption and capabilities. Think of this 3-D stacking as urban planning, combating the sprawl of microchips across circuit boards. Without it, the Apple Watch wouldn’t be possible. Nor would the most advanced solid-state memory from Samsung, artificial-intelligence systems from Nvidia and Google or Sony’s crazy-fast next-gen camera. Of course while the principles that underlie 3-D microchips are straightforward, making them is anything but.
TODAY'S VIDEO
Money for Nothing
That Was Painless
As Mark Zuckerberg, Elon Musk, Richard Branson and other tech titans promote a universal basic income—to help people weather job disruptions caused by emerging technologies—a pilot program in Canada is testing the idea, giving participants up to $17,000 annually, no strings attached. WSJ’s Jason Bellini checks in on this free-money experiment.
TOP STORIES
U.S.

Charles Manson, Convicted Killer and 1960s Cult Leader, Dies

Roy Moore Relying on Evangelical Christians to Keep Campaign Afloat
WORLD

U.S. Rebuffs China’s Charm Offensive, Edging Closer to Trade War

Sinn Féin Leader Gerry Adams to Step Down in Early 2018
BUSINESS

How China’s Acquisitive HNA Group Fell From Favor

The Latest Path to Silicon Valley Riches: Stake Sales
MARKETS

Some Fund Ads Misrepresent Morningstar Ratings

What’s Ailing Barclays? Jes Staley Has Little Time to Figure It Out
NUMBER OF THE DAY
$6 billion
The approximate price Marvell Technology is expected to pay for chip maker Cavium in a deal that could be announced as soon as Monday and that would create a bigger and better-rounded competitor to industry giants like Intel and Broadcom.
QUOTE OF THE DAY
The people have spoken and the old man hangs in there…I don’t know what’s next.
Kudzi, a 33-year-old man who declined to give his last name, after Zimbabwe’s President Robert Mugabe stunned the country on Sunday by not relinquishing power in a televised speech.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the breakdown of government negotiations in Germany? 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 BuzzFeed’s expected miss of its 2017 revenue target, Rich Irwin of Ohio said: “OK, their business model projections were off. So what? This happens all the time. Besides, isn’t life about dealing with unpredictability?”

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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