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The 10-Point: My Guide to the Day's Top News - with complete Number of the Day information

The Wall Street Journal
Good morning,
Digging Deep
In its heyday, Glencore was a model of successful, swashbuckling capitalism. The trading company founded by Marc Rich rode the commodities boom of the past 20 years. But sharp declines in commodity prices recently have forced it into retreat. Ivan Glasenberg, the company’s CEO, announced moves yesterday to scrap Glencore’s dividend, issue more stock and sell assets. In an interview, he said that the actions were made to soothe investor fears of a worst-case scenario in which prices keep falling as China’s economy slows. However, Heard on the Street’s Helen Thomas writes, “Glencore has moved to address its balance sheet problem. It may have traded it for a credibility problem instead.” Meanwhile, weaker demand for Chinese goods in most markets led to a drop in exports for the second consecutive month, but global stocks appear to be brushing that data aside this morning.
Second Wave
Images of migrants pouring into Europe are inspiring thousands more to rush out on their own risky journeys, posing a burgeoning problem for policy makers focused mainly on Syrian refugees. The prospect of a secondary wave comes as the European Union tries to hammer out a common response to the crisis already on its shores. However, Europe’s continental divide over how to handle migration levels unprecedented in almost seven decades shows no sign of narrowing. Despite the renewed push by Berlin and the European Commission in Brussels for an EU-wide response, decisions remain in the hands of national governments for which immigration is a hot-button political issue.
Primary Colors
As the race for the White House barrels into the fall, both parties enter the post-Labor Day phase of their primaries with lineups that have taken on an unexpected shape. The differences between the insider and outsider camps will be on display this week. On Wednesday, Jeb Bush is expected to unveil his tax plan, and Hillary Clinton is set to outline her support for the internationally negotiated Iran nuclear deal. The same day, Donald Trump and Ted Cruz will headline a rally in Washington, D.C., opposing the Iran agreement. Meanwhile, the fall congressional schedule could inflame tensions, including fights over measures to extend the country’s borrowing limit and fund the government.
Tis the Season
Before the Patriots and Steelers kick off on Thursday night, it’s time to tackle some important issues regarding the NFL season. Our sports columnist Jason Gay answers some pressing questions, including the time of the Jets championship parade, how New England and Tom Brady will recover from an off-season of intrigue and accusation and whether your television is big enough for the NFL this year. For the last question, Jason shares a basic rule, “if your next door neighbor cannot comfortably see Peyton Manning’s pores, your television is too small.” Check out his column for more questions and answers before the start of the season.
TOP STORIES
U.S.

States to Help Workers Save for Retirement

Chicago Schools Seek State Cash, as Crunch Looms
WORLD

U.K. Premier Says Drone Strike Killed Two British Members of ISIS in Syria

China’s Shift Away From Industry Drains Life From a Steel Town
BUSINESS

Cost of Skyscraper Glass Hits Dizzying Heights

Microsoft Email Case Tests Power of Search Warrants
MARKETS

Rate Worries Pose Obstacle for Banks

‘Strippers’ Pose Dilemma for Oil Industry
TODAY'S VIDEO
China’s Cheaper iPhone Alternatives
That Was Painless
China’s homegrown brands have been producing smartphones with advanced features at cheaper prices. Here’s a look at the top five alternatives to Apple’s iPhone. Photo: Xiaomi
NUMBER OF THE DAY
$1.9 billion
The amount by which Toshiba overstated its earnings over seven years, more than four times the initial estimate, the company said yesterday, hoping to close the books on one of Japan’s biggest accounting scandals.
QUOTE OF THE DAY
Unless a Democratic candidate comes out and indicates that they don’t agree with the administration, let’s say for president, I’m not going to vote for them…The Democrats are wrong for pushing this through.
Florida resident and retired attorney Richard Goldsmith, whose Democratic senator, Bill Nelson, backs the Iran nuclear accord. Congress returns to Washington today, kicking off a fractious fall that will feature acrimonious debate and a possible veto fight over the nuclear agreement.
TODAY'S QUESTION
Going back to our story above, what are your expectations for the upcoming NFL season? 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
Responding to Friday’s question about corporate retreats, Rich Irwin of Ohio wrote, “If owning your own corporate retreat makes economic sense, then I am all for it. But what is the retreat used for when it isn’t being used for a retreat?” Gordon E. Finley of Florida had this to say: “Bernie Sanders’ campaign staff thanks Corporate America for the ostentatious gifts that keep on giving!” Mike Edelmuth of Tennessee commented, “If it is more economical to have a retreat and return more to the stockholders, that’s the way to go. I was in the corporate world for 45 years and saw the huge amounts of money spent on LAVISH trips.” Tony Mediavilla weighed in from Florida: “Providing retreats for executives to refresh themselves really works! During my 22-year career as a U.S. Marine officer I was encouraged to take advantage of the Corps’ overseas facilities on the Pacific island of Okinawa and the tropical setting of Vietnam! I did—three times! Very refreshing, but does very little for the institution of marriage!” And real-estate broker Steve DiFrancesco of Pennsylvania wrote, “I believe the acquisition of larger estates by corporate buyers represents a great adaptive re-use of these properties, and in the case of estates which have substantial acreage and are at risk for subdivision and development, conversion of these properties for corporate use in a manner which is architecturally and environmentally thoughtful also represents a viable form of conservation.”
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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