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

The Wall Street Journal
Good morning,
Private Preferred
The IPO parade is marching on, but without many tech firms. Technology companies’ share of U.S. initial public offerings has fallen to a seven-year low, and a number of once-hot IPOs have underperformed recently including Chinese e-commerce giant Alibaba and social-media site Twitter. There are now at least 117 private companies valued by venture firms at $1 billion or more, nearly double the number from a year ago. The current trend threatens the outlook for what has been one of the most robust segments of the U.S. investment landscape. That said, some of the most valuable startups are intentionally holding off IPOs and growing at rates that could be eagerly welcomed by public investors.
Welcome to Germany
A bureaucratic tweet from an obscure German agency helped lead to a turning point in Europe’s migrant crisis, when hundreds marched from Budapest in an act halfway between political protest and mass exodus. The wave of migrants now streaming into Germany could be exactly what the country needs to rejuvenate its graying workforce. Or it could become a burden on its generous welfare system. How those two forces balance out is likely to depend largely on how quickly the country can integrate newcomers into its booming economy. Meanwhile, the U.S. is preparing to admit at least 10,000 Syrian refugees in the next year, a sixfold increase over the number currently in the country. For more on why this crisis is happening now, check out our video.
The End of the Road
U.S. President Barack Obama won the biggest foreign-policy fight of his second term yesterday when supporters of his nuclear accord with Iran thwarted an effort to cripple it, paving the way for the deal’s implementation. The vote spares Mr. Obama from the need for a veto to safeguard the deal. After the vote, Senate Majority Leader Mitch McConnell (R., Ky.) made clear that he wouldn’t let Democrats bring up legislation that he said would make them look tough on Iran unless they had enough support for it to become law. Some Democrats who said that they reluctantly endorsed an imperfect deal have already called for renewing the 20-year-old Iran Sanctions Act, which expires at the end of 2016.
The 360 Degree Furniture
Some homeowners are taking their cars for a spin—literally. Serious auto buffs and luxury developers are installing electronic car turners in their homes to help address narrow driveways or to boost the bling factor. “It’s one of the highlights to see the car spin—it’s like living in the future,” said the owner of one luxury home, who bought a Tesla for his turntable. A number of spin-happy homeowners are even adapting revolving platforms for bedrooms, living rooms and patios. And in other luxury trends, some well-heeled buyers are returning to a throwback layout that first gained popularity in Manhattan in the 1920s—the Classic Six.
Fashion Report
Among Hollywood’s legendary leading men, Robert Redford is in a league of his own. The cover subject of WSJ. Magazine’s Men’s Style issue, the 79-year-old actor shows no signs of slowing down, with starring roles in this month’s “A Walk in the Woods” and in the forthcoming political drama, “Truth.” Also in the issue, a profile of reclusive contemporary photographer Jeff Wall, a pioneer of the medium whose new show opens at Marian Goodman Gallery next month; an exclusive look inside the first Nautor’s Swan 115-foot yacht, Solleone, made for the boatbuilder’s chairman, Leonardo Ferragamo; Q&As with three of golf’s up-and-coming star players, including Jordan Spieth. And, finally, a busy day on set with Danny Strong, co-creator of Empire, the hit Fox television show that returns for its second season later this month.
TOP STORIES
U.S.

Students Set a New Course With Off-Beat Majors

On Lawmakers’ Agenda: Raise the Debt Ceiling
WORLD

No Hard Landing for China, Premier Says

Russian Planes Transport Weapons, Humanitarian Aid to Syria, Moscow Says
BUSINESS

GE Nears Decision on Relocating Its Headquarters

Avon Looks for an Outside Investor
MARKETS

Emerging-Market Currencies: Things Look to Get Worse

Investors on Stock-Market Swoon: What, Me Worry?
TODAY'S VIDEO
9/11 Tribute in Light: Behind the Scenes
That Was Painless
The annual Tribute in Light, commemorating the Sept. 11, 2001, attacks on the World Trade Center consists of 88 lights requiring more than 7,000 watts each. WSJ’s Jeff Bush reports. Photo: AP
NUMBER OF THE DAY
9.7%
The share of the British grocer market that no-frills German chains Aldi and Lidl commanded as of August 16, according to Kantar, up from 5.9% three years prior.
QUOTE OF THE DAY
I’m not asking people to vote for me because I’m a woman. But I think if you vote for somebody on the merits, one of my merits is I’m a woman and I think that makes a big difference in today’s world.
Hillary Clinton on whether women are held to a different standard than men. Her campaign has recently stepped up efforts to woo women voters.
TODAY'S QUESTION
Returning to our story above, what are your thoughts on Europe’s migrant crisis? 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 yesterday’s question on Sen. Lindsey Graham’s comments relating to the GOP and the Iran nuclear deal, Ken Keller of California commented: “The Senator is correct. Our best hope is to maintain a GOP legislature and elect a GOP president in 2016 to void this lose-win treaty with Iran. It’s a lot faster method than a lawsuit.” And Brian N. Moore wrote: “Mr. Graham has a point but as normally occurs in Congress it misses the larger picture. Simplify this process to understand that we have nuclear weapons as do many other nations. We own a weapon for our protection and we are essentially saying to another nation that they cannot do the same thing that we did. In the international court (not the court of public opinion) that may not go over well. Beside, we tell bad people that they cannot have guns every day and every day we read about bad people getting guns. We can tell Iran “no” forever but they will just do it anyway. That is what bad people (and nations) do.”
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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