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Walmart with 2000 H1-B visa offers for the first half odf 2025 halts the process in October 2025. Amazon had 10,000 H1-B offers highest number of H1-B visas offers by June 2025, Microsoft, Apple and Google had 4000 such job offers. India makes up 70% of the H1-B visa program and CHina 12%. It hurts the US workforce by bringing in lower paid IT workers to replace higher paid American workers. Bloomberg has adocumentary on the H1-B visa program that highlights abuse of the program that hurts American workers by the Tech companies. It also hurts India by diverting talented engineers needed for India's rapid modernization and creating a culture in which talented engineers in India look outside the country for jobs.

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Liverpool fans sing this song on Portugal's Diogo Jota from Clearwater Revival, the lines are-

"Oh, he wears the No 20 / He will take us to victory / And when he’s running down the left wing / He’ll cut inside and score for LFC / He’s a lad from Portugal / Better than Figo don’t you know / Oh, his name is Diogo!”

The roaring fans of the Liverpool Football Club in England remember Diogo Jota, the Portugal soccer player who won people's hearts. He died in a car accident.

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Kelly Corrigan says goodbye to Novak Djokoivc, Serbian tennis player as he makes it to what may be his last Wimbledon tennis final against Jannik Sinner. Djokovic at 38 is still in the sport when others Federer of Switzerland have quit. Federer quit at 41 years in 2022. Nadal quit in 2024 at the age of 38. 

This ends a period of tennis where the game shifted from the period of Rosewall, Laver and Nastase with a mix of shots to being played almost completely from the baseline. Lobs and drop shots were rare in the games played by Federer, Djokovic and Nadal. A new generation of players brings fun back into tennis with a mix of shot with Italians Jannik Sinner, Cibolli at the forefront.

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Norman Foster's JP Morgan Chase Building 270 Park Avenue, with 60 stories, the 1390 feet skyscraper in NY City for ten thousand Chase employees, was started in 2021 after the area around Grand Central Terminal was opened up for new buildings. It has large windows to let in more sunlight high ceilings and wide open spaces and adds a feeling of civic pride- double the air of other modern buildings and 30% more sunlight to make it livable and inviting to people and employees. WSJ reporter Michael Lewis looks at the new building and its architectural style putting naked steel beams to open sight and trying to meet human needs for space, light, and civic mindedness, openness to the city and the world.

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COP30 becomes a disappointment in Brazil with no mention of fossil fuels. With even Brazil divided with Lula and Brazil's Congress supporting agribusiness and the oil industry. There is a clear perception that cost of living and development concerns have to be given recognition and balanced with climate change goals. This is true also for the US, EU, India and China. These countries are still moving ahead with climate change goals but realize that they have to strike a balance. On the other side are Saudi Arabia and Russia, other oil producing countries that want to delay climate change for as long as possible. These fossil fuel producers opposed mention of fossil fuels and making a transition out of fossil fuels a major priority at COP30.  

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Supreme Court Justice could simply have retired and let then president Obama appoint her successor. She decided to stay into her eighties. As a result president Trump will choose a conservative as her successor and has the votes lined up in the Senate. In Britain the retirement age was changed from lifetime to 75 by an Act in 1959. In India the Constitution set the retirement age for the Supreme Court at 65. Only in the U.S. is this practice maintained.

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Daily cases of coronavirus reach a high of 75,000 with increases in the upper midwestern states of Wisconsin, Illinois,  in Kentucky, Tennessee in the south, and in western states. Most of the increase is in the rural areas of the country in the second wave. In the first wave the high density urban areas such as New York and Los Angeles were worst hit with the rural areas not being hit. This time Chicago is in the worst hit midwestern areas.

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Mark your calendar for May 29 when You Tube will host screenings  of the virtual film festival from multiple locations- Cannes France, Venice Italy, Berlin Germany, Toronto Canada, and New York. This is the "We Are One- Global Film Festival," with virtual cinema program for 10 days with feature films, documentaries, shorts and round tables. Films can can inspire and bring people in different countries together in a useful virtual format combining many of the best film festivals worldwide.

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The run out given on English batsman Bairstow as he stepped out of the crease while batting creates tension at Lord's cricket crowd Ashes Test on July 2, 2023. A huge effort by English captain Stokes with 154 runs still leaves England short of the 43 runs to match the Aussie batting effort. England's Ben Duckett 98 and 83 runs and Aussies Steve Smith 110 and 34 runs were batsmen who scored for their side. 

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Adam Neumann, the 40 year old startup founder of WeWork, which is basically a subleaser of real estate space, resigns. Aggressive brash attitude, a party heavy lifestyle, unpredictable decision making,  are cited by WSJ as reasons he lost the confidence of investors. Mr. Dimon of JP Morgan Chase was a key banker for the company. Chase under Dimon pursued startups in the hope of doing the IPO's. The company has substantial losses, and new management was brought in after Softbank decided Neumann should leave. Growth was fast, losses also mounted fast to $1.6 billion. WSJ says many investors decided that WeWork was not a tech company so much as a overvalued real estate company that engaged in business of leasing office space tricked out in millenial friendly decor. The greed for outsize returns has led to the accumulation of capital that could otherwise be spent wisely on infrastructure and other improvements in health and education, even though many of the gains in tech are behind us.  Recently the head of Uber was also asked to resign for an aggressive approach and questionable management style, also with substantial losses, and new management brought in. Fast expansion in an imprudent manner affects established companies. It led to collapse of India's Jet Airways, Britain's Thomas Cook in 2019. Yet the huge amount of capital of tens of billions of dollars wasted as investors seek outsize returns and are disappointed, is a pattern seen mostly in capital markets in the U.S. and to a lesser extent in Europe, China, Japan. The ideas piggyback on some aspect of tech already developed and are not major tech advances by and of themselves, and many as in the case of WeWork are touted as tech because of the catch and appeal of the word for everyone hoping to make an outsize return.    ...

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The housing downturn as a result of sharply higher interest rates as the Fed's Jay Powell takes on surging inflation is very different from the problems of bank's shoddy mortgages of 2008. The 2008 financial crisis was a banking crisis from overleveraging by US banks and the use of questionable mortgages in housing. The rules set down and strict regulation since 2008 protect the housing market from the errors of 2008.

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Both sides hold positions unacceptable to the other in the Russia Ukraine conflict making negotiations difficult. Russia wants to hold on to annexed regions in the east including Donetsk and Luhansk. Russia continues shelling of Kherson after it was taken back by Ukraine. The conflict drags on in the winter months. The civilian population of Ukraine bears a significant burden from damage to the electricity grid, reducing heating and lighting in the winter.

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Commodity prices are surging worldwide. Shortages of potash with cutoff of supplies from Russia and Belarus is affecting fertilizer supplies and agriculture  worldwide. New mines for commodities in much demand will take years to begin production. A mine in the Canadian prairies is expected to be the largest potash mine in the world, yet production will not begin till 2027. The situation is the same for coal  copper, nickel, and other commodities.

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The Ukraine war has serious side effects with food prices going up as much as 50% in parts of the world that include Asian and African nations and nations in the Middle East. Countries with debt or facing the aftermath of wars and conflicts fare much worse.  Coming after the problems created by the pandemic in the economy and health of many countries these nations are ill prepared for what is happening. 

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Cost to reduce global warming to 1.5 degree centigrade goal set for climate change is estimated to cost $131 trillion. $116 trillion would be for electrification, new technologies, rebuilding electricity networks, efficiency. $24 trillion needs to be redirected quickly from fossil fuel investment to investment in reducing climate change by investing in other energy sources. 

The danger lies in 2.7 degree centigrade warming of the planet by the end of the century.

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Pakistan follows other countries by making vaccination mandatory for all public sector workers. Pakistan also requires vaccination to go to airports. France and some other countries in Europe have taken this action to prevent spread of the Delta variant.

According to the US Census Bureau 3.6 million Americans say they face eviction in 2 months as the Supreme Court voted 5-4 to end suspension of evictions July 31, 2021.

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Natural gas prices hit a 14 year high in the US with futures reaching $10 per million British thermal units BTU's. Natural gas is liquefied and sent to Europe from the US leading to higher domestic prices. Europe is facing a winter of gas shortages with rationing of energy supplies to industry to meet winter home demand. Germany has built up its reserves to 80% and has agreements for additional supplies from Qatar.

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Tom Edwards talks to Julian Robinson the head architect for Crossrail project about the ambient detailing in each of the stations for the new Elizabeth Line. Edwards says these are strikingly huge and wide open spaces, and the stations were built for the next generation with space to spare for population growth. Design paid attention to smooth curves in the way the users see the stations while walking. Each station has its own unique design.

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Xi Jinping visits Russia in an effort to start peace talks between Russia and Ukraine. The Russian leader wrote an article in a Chinese newspaper saying he was grateful for China's "balanced" stance on the conflict," and welcomed China's "constructive" role in ending the conflict. Xi Jinping wrote an article in a Russian newspaper Rossikaya Gazeta saying "complex problems do not have simple solutions."

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The largest holder of America's debt is not China. It is Japan with holdings by banks, insurers and pension funds of $1.1 trillion of US debt. This is important with the growing borrowing of the US government to fund infrastructure and clean energy, services. This investment is growing after slowing during the pandemic. Much of it is done not for earnings gains but with hedging in financial markets to reduce exchange rate risk.

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How much capital allocation is distorted in the US today is again evident when dire needs for infrastructure and fighting climate change action are unmet. How much capital is being wasted in the $44 billion used to purchase Twitter? In just one part of that investment banks lent $13 billion to Elon Musk for purchase of Twitter and WSJ reports already taking a 15% loss of $2 billion. The list of wasted allocation is endless.

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A huge change in US China relations. President Xi abandons the harsh tone of the past decade in describing America and seeks normal relations with the US away from the acrimonious words of the past. He meets with president Biden in a friendly atmosphere.  The Blinken negotiated fentanyl accords are also agreed to between Xi and Biden that China would prevent sending of these chemicals from China, removing one more sore point in relations.

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Boeing's gumdrop shaped ship that will take Sunita Williams 58 years and Barry Wilmore 61 years  to the International Space Station in May 2024. It launched at 10.34 am on Monday May 6, and will reach the Space Station in 1 day and return a week later to earth. Both Williams and Wilmore have made 2 trips on NASA space shuttle and on Russia's Soyuz vehicles to the International Space Station.

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Not just state support for companies in solar and EV's- the weaker Chinese currency also adds to China's momentum in exports. The US and the EU are determined to avoid a repeat of previous waves of Chinese exports that decimated their industries and industrial regions. US and EU are preparing counter strategies to support their own companies and protect local jobs and lcal communities that thrive only when those jobs exist.

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Macron's decision for snap elections in July is a surprise for his own party Renaissance and for the party he wanted to help Les Republicains of Former president Sarkozy. Prime minister Gabriel Attal was also unaware and had opposed quick elections. Macron's idea that the left parties would not put up one candidate also did not happen as the left parties have united and Laurent Berger is emerging as their candidate.