The 10-Point: My Guide to The WSJ Date: Thu, 18 Dec 2014 07:52:05 -0500 From: Gerard Baker, WSJ Reply-To: [email protected] To: [email protected] The 10-Point. Gerard Baker Editor in Chief of The Wall Street Journal Good morning, Christmas in Havana For the first time in five decades, the leaders of the U.S. and Cuba have spoken by phone. Our story examines the U.S. decision to normalize relations with Cuba, after President Barack Obama and Raúl Castro agreed on a series of landmark diplomatic steps. We note that the policy changes fall short of fully lifting the 54-year U.S. embargo against Cuba, which would require an act from Congress. However, they forge significant economic ties and make it easier for Americans to travel to Cuba. Here’s a guide to what’s changing as a result of the U.S.-Cuba agreement and a look at the possibilities of trade. We find that many Cubans were delighted by the news, hoping it might provide an economic lift to the country. But Congressional critics in the U.S. signaled they would block attempts to lift the Cuban embargo and prevent funding for a new U.S. embassy. The diplomatic move heightened the likelihood that world affairs would figure prominently in the 2016 presidential race, giving potential candidates fresh ammunition to attack Mr. Obama’s foreign policy and raising questions for his Democratic successor about what comes next. Closer to Normal Following its two-day policy meeting, the U.S. Federal Reserve tweaked its language on rates, dropping an assurance that they could stay low for a “considerable time.” Our story analyzes the nuanced stance that the central bank presented yesterday. We note that the Fed made the most direct formal reference to raising rates it has made in years, alluding to the prospect of “beginning to normalize the stance of monetary policy.” Still, several wild cards remain in play that could alter the Fed’s course. The most obvious is the path of inflation, influenced by tumbling oil prices. “The Federal Reserve says it can be patient. Considering where inflation is headed, it may have to be,” writes our Heard on the Street reporter Justin Lahart. Several top Fed officials have said they expect to start lifting rates around the middle of next year and the Fed’s interest-rate projections, released with Wednesday’s statement, suggested that remains the predominant view. The central bank’s next scheduled policy meeting is Jan. 27-28. Hollywood Ending We take a look at the implications of the 11th-hour decision by Sony Pictures to cancel its planned release of “The Interview” following the hacking of its corporate infrastructure. Online security experts warned that the reverberations will carry far beyond Hollywood, saying that the episode could set a disturbing precedent. U.S. officials have concluded that North Korea was behind the broad cyberattack on the company. Also in question is the status of several other scripts floating around Hollywood, including rights to the memoirs of North Korean defectors who spent years in the country’s notorious labor camps. Meanwhile, the damaging outcome of the breach has caused company executives to sit up and take notice. The claim that Pyongyang was behind the cyberattack on Sony Pictures has also raised the difficult question of how Washington should respond. Répondez S’il Vous Plaît Nobody RSVPs anymore. As many hosts can attest, getting responses to invitations is much harder than it used to be. Our story looks at why such bad manners are on the rise and how tardy responses or none at all create a ripple effect of party problems, including overwhelmed party spaces and food shortages. As people mark milestones with increasing frequency, the large quantity of invitations clogging inboxes can make the “pleasure of a reply” request seem overwhelming. But consider the stress that befalls organizers: One party planner recalled a time when 33 additional guests arrived at an event unexpectedly, leaving him and his team racing to add tables and cutting tablecloths from bolts of fabric. “These guests had bought plane tickets, reserved hotel rooms and rented cars but just didn’t think to tell the host they were coming,” he says. “And they had received at least five emails asking for confirmation. It’s unbelievable.” TOP STORIES U.S. Jeb Bush Puts Pressure on Chris Christie for 2016 New York Moves to Ban Fracking WORLD Pakistan Asks for Afghan Help to Fight Taliban Russian President Vladimir Putin Seeks to Reassure on Economy BUSINESS Port Delays Leave Retail Goods Stuck in Transit AbbVie Pins Hopes on Hepatitis C Treatment MARKETS NYSE Plan Would Revamp Trading Banks Find Niche Helping Firms Defend Against Activists TODAYS VIDEO Life Expectancy That Was Painless Where are lives being cut short? WSJ’s Jason Bellini has #TheShortAnswer. NUMBER OF THE DAY 140% The recent rise in the share price of Cuba Beverage, an energy-drink company with sales of $9,961 last quarter, in what appears to be the latest example of a company’s stock being affected by news events that are completely unrelated to its business. QUOTE OF THE DAY Russia has become unpredictable, which is the biggest threat to partnership...We don’t know at all what Russia’s goals are. Gernot Erler, the German government’s coordinator for Eastern European affairs, on German relations with Moscow. TODAYS QUESTION Going back to our earlier story, what are your thoughts on the softening U.S. stance toward Cuba? Send your comments to 10point@wsj. —Compiled by Khadeeja Safdar READER RESPONSE Thanks for all your responses to yesterday’s question about Jeb Bush’s ability to win the GOP nomination. W.S. Thomas of Alabama commented: “I do not think Jeb Bush can win the presidency because the base is not enthusiastic about him. The GOP establishment may support him monetarily but votes win elections, not dollars.” Dick Andersen of Virginia echoed several of you when he wrote: “The Bushes are good people but I think we don’t need a dynasty. We have had enough Kennedys and Clintons. There are a number of GOP governors that would make superb Presidents.” And Paul H. McConnaughey wrote from Massachusetts that “Jeb Bush has little chance of winning the Presidency given the continued sour taste of people following the last Bush administration. Seeing Cheney rant every day doesn’t help. Having said that, the Republicans don’t have a good viable candidate.” 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 Whats 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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Posted on: Thu, 18 Dec 2014 14:45:43 +0000
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