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

The Wall Street Journal
Good morning, from Laguna Beach in Southern California where I am preparing to host our WSJDLive conference on all things tech. Tonight I will be interviewing Tim Cook of Apple on stage in addition to many other celebrated events and interviews.
A Damp Squib
A high-profile federal probe into allegations of widespread corruption at Wal-Mart Stores’ operations in Mexico has found little in the way of major offenses, and is likely to result in a much smaller case than investigators first expected, according to people familiar with the matter. The investigation uncovered evidence that contradicted some of the allegations made in a pair of 2012 New York Times articles—which ultimately won the paper the Pulitzer Prize and prompted the Justice Department to launch the investigation. Wal-Mart’s shares fell around 5% after the first NYT report was published. The probe is still not over, though most of the work has been completed.
Russian Roulette
Syrian pro-regime forces backed by Russian airstrikes have expanded their ground offensive to the strategic city of Aleppo. They appear to be advancing westward toward the highway linking Aleppo with the capital Damascus, rebels said. The development is one of the clearest signs yet of how Russia’s recent military intervention has emboldened President Bashar al-Assad and his loyalists. Moscow, for its part, has said it is targeting Islamic State even though the majority of its airstrikes have been on mainstream rebels. Meanwhile, the Pentagon said yesterday that a U.S. airstrike in Syria last week killed the leader of an al Qaeda cell suspected of plotting attacks against Americans.
Double-Edged Sword
An increasing number of industries in the U.S. are dominated by a shrinking number of companies. Last week’s $104.2 billion deal between AB InBev and SABMiller is part of the same trend as well as a wave of consolidation among semiconductor makers looking to streamline their organizations and product lines. And in nearly a third of industries, most U.S. companies compete in markets that would be considered highly concentrated under current federal antitrust standards. Market concentration has both advantages and problems: It can generate economies of scale and preserve jobs, but in some cases also inhibits competition.
Age Is Just a Number
Meet venture capital’s teenage analyst. Eighteen-year-old Tiffany Zhong has a job at venture-firm Binary Capital that is usually reserved for an M.B.A. Our technology columnist Christopher Mims looks at how she manages her “deal flow”—the startups she finds that Binary Capital, which manages $125 million, will invest in. One of her advantages is that many of the startup founders she works with are the same age as her, or even younger. And in other news, a survey shows that teens rank Instagram their most important social network, followed by Twitter, Snapchat and Facebook.
Soaring Ambitions: Gateway Arch Gets Makeover
That Was Painless
As the Gateway Arch turns 50, a big public-private fundraising effort in St. Louis, Miss, aims to tie it more closely into the city it often represents. Photo: CityArchRiver Foundation

Debt, Growth Concerns Rain on Deficit Parade

Another Race Is On: For Ballot Signatures

Iran Nuclear Deal Formally Adopted

Amid Slumping Economy, Canada’s Stephen Harper Braces for Tight Election Race

Report Warns of Chinese Hacking

Why You May Soon See More Goods Labeled ‘Made in Vietnam’

Deutsche Bank Shakes Up Management Amid Restructuring

Once Hot, Master Limited Partnerships Reel From Sharp Selloff
China’s economic growth rate in the third quarter as compared with a year earlier, decelerating to its slowest pace since the global financial crisis and adding to concerns about the global economic outlook.
Even though it looks like everything is messed up right now, you’ve got to break eggs to make an omelet, and right now we’re making one heck of an omelet. I’m convinced that things are going to be much better by January of next year.
Rep. Thomas Massie (R., Ky.) said last week to constituents on the tensions among Republicans.
Going back to our story above, what are your thoughts on market concentration? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Khadeeja Safdar
On Friday’s question about companies forcing workers to save by diverting a higher percentage of paychecks to retirement plans, Rick Dawley of North Carolina commented, “I am a huge fan of company matching programs that provide incentive for employees to voluntarily put more into their 401K accounts. Forcing employees is another thing altogether. On top of Social Security and Medicare deductions, this will put more people into difficulty in dealing with their day to day financial needs. Further, many will not have sufficient knowledge to make appropriate selections from options offered by their employer’s plan. There are other unintended consequences and the entire idea might well be a road to Hades paved with good intentions.” Judith Dollenmayer of New York weighed in: “Many behavioral economists have noted that ‘opt out’ of employer plans promotes more savings than giving employees ‘opt in’ choices, which many disregard or don’t understand. The dicey part is to ensure that companies don’t stash that mandatory retirement portion in their own stock, but also offer a range of no-fee fund choices.” And Linda W. Beville of Virginia wrote, “I think it’s a great idea if the minimum wage is raised to a decent standard, wages are maintained at annual inflationary standards and benefits given to part-time employees. But isn’t that what Social Security does already?: a required auto-deduct mandated by the U.S. Government for future retirement.”
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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