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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.
Secret Ally
Activist investors are prevailing more than ever in their battles to force change at large U.S. companies, partly because of private support from mutual funds. We look at how funds have quietly backed some of the most prominent activist campaigns, a shift that comes as investors set their sights on bigger companies. Last week, William Ackman’s Pershing Square Capital Management disclosed a $5.5 billion stake in food giant Mondelez International. It also emerged that ValueAct has taken a roughly $1 billion stake in American Express. Elsewhere, 3G Capital is currently embarking on its biggest challenge: integrating the former Kraft Foods into the Heinz business that 3G bought two years ago with Warren Buffett’s Berkshire Hathaway.
Carbon Challenge
Industry representatives and a group of state attorneys general are preparing to file lawsuits soon to challenge Obama administration rules requiring significant cuts in power-plant carbon emissions. The move, expected in the coming weeks, would open up a legal battle by contesting the authority of the Environmental Protection Agency on a wide range of grounds. How courts interpret the amendments could determine whether some rules survive. Meanwhile, an estimated three million gallons of wastewater spilled into the Animas river from Gold King Mine north of Silverton, Colo., after an EPA cleanup crew accidentally breached a debris dam Wednesday morning.
The Acquisitive Way
Berkshire Hathaway is closing in on purchasing Precision Castparts, a maker of aerospace and other parts, for more than $30 billion, according to people familiar with the matter. The acquisition, first reported by the Journal, was announced this morning. It will be the largest of Berkshire Chairman and Chief Executive Warren Buffett’s career and demonstrates the conglomerate’s focus on acquisitions, rather than stock investing or the insurance business, as the way to drive earnings higher. Other investors are scouring for bargains in the industrial sector, which has disappointed shareholders throughout a six-year-long economic recovery.
Where Credit Is Due
How many scientists does it take to write a paper? Apparently thousands. In the ever-expanding universe of credit where credit is apparently due, the practice of having an author count over 1,000 has become so widespread that some scientists now joke that they measure their collaborators in bulk—by the “kilo-author.” “There was a joke that anyone who had ever seen a fruit fly got to be an author,” said a neuroethologist, who tracks the spiraling number of scientific co-authors. But some scientists say that mass authorship makes it harder to tell who did what and who deserves the real credit for a breakthrough—or blame for misconduct.
Shooting in Ferguson
Developing on Police officers shot a man after he opened fire on them last night during protests in Ferguson, Mo., leaving the man in a “critical, unstable condition,” St. Louis County Police Chief Jon Belmar said. Protesters were gathered in Ferguson to mark the one-year anniversary of the death of unarmed black teenager Michael Brown, who was shot and killed by a white officer last year.

Kasich Backs Path to Legal Status for Undocumented Immigrants

Hillary Clinton Proposes Debt-Free Tuition at Public Colleges

In Iran, Voices Rise Against Nuclear Deal

Taliban Leader’s Death Derails Peace Effort

FTC to Clarify Its Powers to Police Unfair Competition

Truckers Gain an Automated Assist

Algorithmic Trading: The Play-at-Home Version

Chinese Companies Pay Debt Premium
Can One Billion Oysters Clean NYC’s Harbor?
That Was Painless
A unique New York City program is working with high-school children to reintroduce one billion oysters to the city’s harbor in an effort to clean its water. Photo: Jeff Bush
The share of U.S. petroleum from foreign sources—its lowest level since 1985. Big voices in the oil industry and Congress now support a move that would have been unthinkable not long ago: opening the U.S. oil industry to exports.
There’s nothing to apologize…I was referring to nose, ears. They’re very common statements. And only a deviant would think of what people said.
Donald Trump told NBC News on Sunday, insisting he wasn’t referring to Fox News host Megyn Kelly’s menstrual period, as his critics have charged.
What are your thoughts on Mr. Trump’s comments about Megyn Kelly, both at the debate and afterwards? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Khadeeja Safdar
Responding to Friday’s question about Thursday’s GOP presidential candidate debates, Trish Jones of Georgia wrote: “The GOP has an excellent group of candidates to sift through. I was particularly impressed with Carly Fiorina, Bobby Jindal and Marco Rubio. Each came across as very articulate and intelligent with a genuine belief in the greatness of America.” Gari A. Chaffin of Michigan commented: “By indicating he has not ruled out running as an independent, Trump is saying ‘nominate me or I’ll ensure Hillary wins by running as a third party candidate’! Trying to blackmail his way into the nomination. “ William E. Dove of Alabama weighed in: “None of the candidates seem overwhelming qualified to be president. Big money PACs will decide the GOP choice for president by giving their favorite candidates sufficient financing to stage a strong national campaign. So far Jeb has attracted the largest amount of campaign dollars. It will be interesting to see which direction new PAC campaign funding will go. Those candidates that can’t attract sufficient campaign funding over the next 120 days will drop out of the race.”
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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