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

The Wall Street Journal
Good morning,
Darkening Skies
The U.K. has suspended flights to and from Sharm El Sheik in Egypt after British authorities said that a Russian jetliner which crashed in the Sinai Peninsula on Saturday could have been brought down by a bomb. “We have concluded there is a significant possibility that the crash was caused by an explosive device on board,” Foreign Secretary Philip Hammond said yesterday. U.S. officials didn’t take exception to the U.K. assessment, but declined to speculate on the cause apart from ruling out a missile strike. Dutch authorities are following the U.K. and also suspending flights to the Red Sea resort. The Egyptian branch of militant group Islamic State reiterated its claim of responsibility, which has been met with deep skepticism. The investigative team led by Egypt is analyzing the plane’s black boxes, but had so far released few details.
Iran Strikes
Iran’s Revolutionary Guard military force hacked email and social-media accounts of Obama administration officials in recent weeks in attacks believed to be tied to the arrest in Tehran of an Iranian-American businessman. The surge in cyberattacks is the latest sign that hard-line factions inside the regime haven’t moderated their hostility toward Washington despite the landmark nuclear accord. Meanwhile, the U.S. and its Middle East allies have agreed to increase shipments of weapons and other supplies to help moderate Syrian rebels hold their ground and challenge the intervention of Russia and Iran on behalf of President Bashar al-Assad. Democrats in Congress have grown increasingly critical of President Barack Obama’s strategy in Syria after his decision last week to send special-operations forces to assist in the fight against Islamic State militants.
Betting the Pharma
Activist investor William Ackman has been under siege in recent weeks, struggling to salvage his big bet on drug maker Valeant Pharmaceuticals. Valeant’s stock, which once accounted for one-fifth of his fund’s holdings, is down 65% since its August high. After a short seller released a report suggesting Valeant was using specialty pharmacies to inflate results through “phantom sales,” Mr. Ackman pressed CEO Michael Pearson for answers. He also told the lead Valeant director that Mr. Pearson might have to go, and considered dumping his entire initial investment. Ultimately, he chose to invest even more. Now, however, Mr. Ackman’s fund is down 16% this year, its largest decline to date. “It will be heroic if we finish up this year,” he told colleagues. “But the reports of my demise are greatly exaggerated.”
Sausage Backlash
The World Health Organization said last week that eating frankfurters and their ilk can cause cancer. To Germans, many of whom consider sausage and cured meats comfort food, that idea didn’t go down well. “If it were true, every German would have already died of wurst,” said one sausage seller. The criticism was particularly biting in Frankfurt, which in 1987 celebrated the 500th birthday of its eponymous sausage and holds an annual competition for the best of them. Even the German language is peppered with sausage references. In a make-or-break situation, Germans say: “It’s about the sausage.” For indifference, they say: “It’s sausage to me.” The WHO announcement, they say, is just baloney.
TODAY'S VIDEO
Virtual Reality: Behind the Scenes With a Ballerina
That Was Painless
Take a backstage tour of the Metropolitan Opera House. We used a 360-degree virtual reality camera to record Sarah Lane, a soloist with the American Ballet Theatre, as she prepared the title role in “The Sleeping Beauty.”
TOP STORIES
U.S.

Behind Rising Inequality: More Unequal Companies

Where ‘Anchor Babies’ Can Be a Lucrative Business
WORLD

Erdogan Presses for New Turkish Constitution, Vows to Fight Terrorists

German Police Launch Mass Raid on People Smugglers
BUSINESS

Maersk Line to Cut 4,000 Jobs as Market Deteriorates

Kraft to Slash 2,600 More Jobs, Close Seven Plants
MARKETS

Big Banks Lock Horns With Personal-Finance Web Portals

Municipal Bonds Shine in Bleak Landscape
NUMBER OF THE DAY
$4.5 billion
Facebook’s better-than-expected revenue in the third quarter, up 41% from a year earlier. The results reflect the company’s ability to win new advertisers who are spending more on digital advertising overall.
QUOTE OF THE DAY
“I am running in the Democratic primary process…I am now a Democrat.”
Sen. Bernie Sanders, who has always run for office as an independent, on his plan to run in the New Hampshire Democratic primary, which requires candidates to be “registered Democrats.” His home state, Vermont, doesn’t register voters by party.
TODAY'S QUESTION
Going back to our story above, what are your thoughts on the U.S. agreeing to increase shipments of weapons and other supplies to moderate Syrian rebels? 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
On yesterday’s question about the salary disparity between liberal arts graduates and those from research universities, Randy Cook of California observed, “Few liberal arts majors take any coursework that resembles real science or technology. That lack of basic scientific knowledge and STEM thinking skills is what really hurts when interviewing for higher paying professional positions in today’s world.” Phillip Hymel of Louisiana commented, “Students at elite liberal arts colleges (or any college) should be informed what the average pay scale is for their chosen majors…If they are taking out student loans, then the loans should be capped relative to an algorithm of the average earnings potential in their degree plus their GPA. A top tier, high-GPA chemical engineering major should be able to borrow more than a C-minus philosophy major.” Laurin Dodd of Kentucky weighed in, “University educations should be viewed as having broader goals than the ability of graduates to earn large salaries. Graduates from ‘elite’ liberal arts colleges are often motivated by factors beyond early career earnings…These are bright capable people who could do almost anything but have chosen for now activities that make a positive difference for others.” And Stewart D. Cumming of California wrote, “The value of any degree is more contingent on the person who holds it than on the school that issued it. While certain degrees may get you in the front door, if you’re a putz they won’t get you the job or the salary you’d like.”
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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