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1. FROM MY DESK
As head of the IRS and Social Security Administration, Frank Bisignano is entrusted with the private financial records of every American taxpayer. But before entering public service, he spied on his colleagues at JPMorgan Chase. While co-COO at the bank, Bisignano directed staff to snoop on rival executives, people familiar with the matter told the Journal. Bisignano denies spying on co-workers. Still, our reporting details how he ultimately lost the trust of CEO Jamie Dimon.
This is an edition of The 10-Point newsletter, a guided tour to the best coverage in The Wall Street Journal. If you’re not subscribed, sign up here. If you’re reading this in your inbox, tap the headline above for online and audio versions of this newsletter.
2. TODAY’S HEADLINES
Israeli intelligence believes Iran moved nuclear centrifuges into Pickaxe Mountain, Israeli and U.S. officials say, a development that would heighten concerns that Tehran could reconstitute its nuclear program.President Trump imposed an additional 50% tariff on certain goods from Canada.Kraft Heinz and Disney struck a deal that gives the food conglomerate a foothold in one of America’s most enduring entertainment empires.The U.S. is putting once-unthinkable ideas on the table to disarm Hezbollah.Ukrainian President Volodymyr Zelensky is facing protests to remove a general after siding with him in a dispute with Ukraine’s defense minister.The Tate brothers are fighting their potential extradition from the U.S. to the U.K., where the influencers face charges including rape and sex trafficking. Here’s what to know about their legal troubles.
3. LIVE FROM THE MARKETS
📈 Follow our live financial coverage all day.
Insurers are finding workarounds on risky debt faster than regulators can rein them in.Gold has suffered a rough few months, tarnishing the bull case for the metal. But it is a good time to buy the dip, writes Aaron Back.
4. READ IT HERE FIRST
Top American AI execs are sounding the alarm on Chinese models.
Silicon Valley and Washington are debating a multibillion-dollar question: Should American companies be able to use Chinese artificial-intelligence models? OpenAI and Anthropic executives are raising concerns about the rise of cheap AI, particularly powerful new models produced in China, suggesting they will lead to a “dystopian” AI future and present unacceptable security risks without regulation. Some analysts say the two companies just want to eliminate the competition. The White House, meanwhile, is divided on how to respond to recent advances in Chinese AI and has weighed crackdown measures, report Amrith Ramkumar and Tina Li.
5.
Meet the New Jersey financier behind Trump Media’s pivot into nuclear energy.
As the first family expands its business empire, it is turning to financial partners who aren’t part of Wall Street’s blue-chip elite but are comfortable raising money and striking deals that might seem risky to others—partners like Yorkville Advisors, a small New Jersey investment firm. David Uberti sat down with founder Mark Angelo.
Go inside what’s driving D.C.Washington Coverage Chief Damian Paletta brings you an expert guide to the politics, power and people in the nation’s capital. Sign up for our politics newsletter.
6. SEE THE STORY
A locomotive named Big Boy is making grown men cry.
This summer’s tear-jerker isn’t a rom-com. It’s Big Boy 4014. The 1.2-million-pound locomotive, built in 1941 to haul heavy freight across the Wasatch Mountains between Utah and Wyoming, is traveling east of the Mississippi for the first time. And at every stop of its coast-to-coast tour, grown men are welling up.
7. HAPPENING TODAY
Earnings: General Motors, Capital One Financial📰 Today’s paper
8. THE NUMBER
That’s how many pounds the Trojan Horse weighs in Christopher Nolan’s “The Odyssey.” The giant prop, which took roughly 250 actors and stunt performers to haul, is a centerpiece of Nolan’s moonshot adaptation of the epic poem. In an interview with the Journal’s John Jurgensen, the director unpacks the Trojan Horse scene and how he pulled off his latest cinematic tour de force.
9. AND FINALLY…
Are therapists to blame for the rise of adults cutting off their parents?
Estrangement is on the rise, and therapy is fueling it. Most therapists agree that sometimes people are justified in breaking ties with their parents or a close relative, especially if they were physically or emotionally abusive. What’s changing now is the bar for what is deemed abusive enough for a cutoff.
10. BEYOND THE NEWSROOM
Opinion: House Republicans folded on a bill that would have helped veterans because they didn’t want to be accused of cutting benefits.WSJ | Buy Side: Some of the best financial-adviser firms to meet your 2026 goals.
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Today’s newsletter was curated and edited by Morgan Smith and Gary Mitchell in collaboration with Editor in Chief Emma Tucker. Got a tip for us? Here’s how to submit.
