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Italy raised 18 billion euros in a record auction on Oct. 18, 2012, meeting its needs for the rest of the year. Italy's yield dropped to 4.64% on Oct 18. Spain raised 4.6 billion euros at 5.32%. Italy sold most of the BTP Italia bonds to Italian citizens with a 4 year bond linked to Italian inflation and designed for Italian retail investors with a new eBay type internet platform, including a loyalty premium of extra 40 basis points. Italian retail investors have 8 trillion euros in net private wealth and household wealth in Italy is more than 4 times the sovereign debt, according to the Bank of Italy. This is a big difference compared to Spain, because the interest on the bonds remains in Italy for consumption and investment. Spanish households are highly indebted after the housing bubble.

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Romney and Santorum in a tie, with Romney winning by just 8 votes in Iowa's Republican caucuses. Romney got 23.6%, Santorum 23.5%, Ron Paul 21%, Gingrich 13% and Perry 10%. Romney received almost the same number of votes he won in 2008.

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Eleven members of the panel on the US Deficit Commisssion supported the plan, and seven opposed it, in a 11-7 vote. The panel members supporting it include Senator Durbin, Senator Coburn, Senator Crapo, Senator Gregg, and Senator Conrad. In the House the following House members voted against it- Rep. Becerra, Schakowsky, Camp, Hensarling, Paul Ryan. The House Democrats opposed it because of the changes to Social Security, and the House Republicans opposed it because they said the report did not tackle federal health-care spending sufficiently.

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Raj Rajaratnam was convicted on 14 counts for insider trading violations. Prosecutors successfully used wiretap evidence for the first time in an insider trading case.

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The impact on ASEAN countries of the monetary expansion policy of the Bank of Japan, Japan's central bank, and the policies of the Abe administration. Infusion of new liquidity into Malaysia, Singapore, Indonesia, Thailand and Vietnam.

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Efforts to increase wages by the Abe administration in Japan. Combined 10 of 12 major auto worker unions in Japan said companies had met their full demands in 2013. Toyota offered workers a bonus equal to 6 months of base pay- a 15% increase over 2012 bonus. This reverses a negative trend of declining wages in Japan- average annual compensation declined for part and full time employees, including bonuses, for 8 of 10 years 2002-2011, reaching 4.09 million yen or $42,800 per worker in 2011, according to the National Tax Agency.

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With a general election approaching in Britain the question about a progressive alliance is brought up in the Guardian. A big block is the Labour party with its obsession for vote share, and not seeking alliances of any kind. The Liberal Democrats are creating their own barriers with hostility towards Labour party. This report cites Best for Britain data and says 457 seats are immune to alliances. Of 150 marginals 111 seats the numbers show if SNP, Lib Democrats, Greens swung behind Labour party  it would make a big difference. as in 30 seats even a 5% swing from Labour to the Lib Democrats would give the seat to the Conservatives. The other approach is to have informal alliances at the grassroots level so that progressive candidates can do well.

 

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A sixth wicket partnership of 139 runs between Butler and Woakes gives England a 3 wicket win. At one point England who needed 277 runs to win were down 5 wickets for 117 runs. The first Test against Pakistan at Old Trafford turned out to be one of many Test cricket matches that England come back to win. England win by 3 wickets.

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Modi BJP Win in West Bengal 2026- full speech on the future of Bengal, India, Indian democracy, India's modernization - May 4, 2026. For the first time most of India is now being led by state and federal governments that are aligned for rapid modernization, rapid development of infrastructure, industry and the economy. Madras, Bombay, Ahmedabad, Jaipur, Vizag, Kolkata, Bhubaneshwar, Delhi, Noida, Bhopal, Dehra Dun, Srinagar,most of India's cities and urban areas, and the rural heartland of India all aligned for accelerated development under a Master Plan for the economy for the next two decades. This will close the gap with China to make India the third largest economy in the world, and a key support for the United States and the European Union. Seen through this lens many of todays reports and concerns fade into significance. The US and the European Union are not alone- they have the support of 2 billion people of India, and Indonesia and adjoining regions.

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Cabo Verde, Haiti,  Bosnia and Curacao, all qualify for World Cup Soccer 2026 but what about Italy, China and India?  WSJ looks at China and its efforts under president Xi over the last decade to play in the World Cup, to host the World Cup and win the World Cup. This report says Italy's Serie A soccer inspired soccer in China. What happened? In comparison to S. Korea and Japan which sent players to Europe, China kept most of its players at home in China, and had more success with its women's team that reached the finals of the World Cup Women's soccer. The difference with South Korea and Japan is that Korea and Japan invested heavily in youth development as a pipeline for new players which is lacking in China and in India. Corruption has also affected the management of the soccer leagues in China. 

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For online retail startups in India logistics costs are high because of India's poor transportation system. Logistics costs take up about 30% of net sales in India for retail internet startups compared to 11.7% for Amazon in the U.S. in 2014. Alibaba splits shipping costs between merchants and buyers.

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HP's Apotheker emphasized in an earnings call "the tablet effect is real and sales of the TouchPad are not meeting our expectations. The velocity of change in the personal device marketplace continues to increase as the competitive landscape is growing increasingly more complex especially around the personal computing area." By the tablet effect Apotheker means the Apple iPad. The tablet is becoming popular but not the other tablets from Samsung, HP and other makers. It is the iPad that is the product customers turn to and the tablets of competitors are not accepted as a substitute. As a result CEO Apotheker plans to exit the tablet and PC business.