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Pfizer and Moderna's plans to make mRNA vaccines in Africa, Asia or Latin America may take much longer than 2022. The solution to producing an mRNA vaccine in Asia that could be mass manufactured and distributed throughout Africa, Asia and Latin America is now at hand. Gennova based in India, is partnering with Seattle startup HDT Bio to attack the problem of temperature and scalability in manufacturing for a mRNA vaccine that acts as a global solution using India's manufacturing capabilities. Dr Singh who founded Gennova, says- "We wanted to solve the problem of the scalability issue, and the temperature issue. If we can solve these problems, we are building a solution not just for India, but also a global solution." Gennova received seed funding from the Indian government. Other companies in Brazil and South Africa lack the manufacturing capabilities or financing needed that exist in India. The Indian government has achieved an initial goal of one billion vaccinated in just 6 months. The next step for India in its health infrastructure buildup is a mRNA vaccine that is an improvement over Pfizer and Moderna vaccines that can be stored easily, adapted for variants, and manufactured in large quantity as a global solution. ...

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The causes of La wildfires are dry conditions, little rainfall in the Santa Monica Mountains, and winds gusting with record speeds. Loss estimated at $57 billion for Southern California, and the trauma of seeing wildfires spread at unheard of speeds. It is also attributed to climate change that has caused such fires all over North America, different in scale and speed from the past.

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The Glasgow COP26 summit could be the beginning of a new era for mankind as the city that started the industrial revolution in Britain takes the world on a turn into a new era of ecologically conscious living. This BBC report looks at changes we should be experiencing in 2022 to 2030. Electric cars that take the place of current automobiles, increasing use of construction materials other than cement and concrete, use of solar and wind energy. From a mental health standpoint lifestyles built around walking and cycling, more forested areas and green spaces in and around cities, cleaner air, quieter cities, food choices and agricultural choices made around health and better ecology. Personal investments, corporate investments and pensions of $139 trillion invested in a way that cuts carbon emissions. Governments and private citizens enabling transparency and regulation, weekly monitoring on matters relating to emissions in one's own neighborhoods and local region.  ...

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The government of prime minister Narendra Modi defeats a non-confidence motion brought by Congress leader Rahul Gandhi. The motion was defeated with 325 votes against and 126 votes in favor.

Prime minister Modi used the moment in parliament to give a report card of his administration in preparation for the 2019 elections. 

In his speech Modi focussed on the work accomplished and the tasks ahead for economic development. He stated India was well on its way to become a $5 trillion economy. The opposition tactics to foment discontent in the country and organize factional interests would not detract the government from its singleminded focus on development, he said. Modi emphasized that the pace of economic development could not be accelerated in the first 2 years of the Modi administration because of the bad loans in the country's banking system, a problem stemming from bad practices and corruption in the previous administration.

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A terrorist attack on july 15, 2016, by a Tunisian born delivery truck driver using a large delivery truck to crush people on a Nice promenade. The death toll is about 85 with 50 people badly injured. The delivery truck driver is Bouhlel, 31, born in Tunisia and from Msaken, Tunisia, who moved to France in 2005. President Hollande extended a nationwide state of emergency for 3 months. The Euro 2016 soccer games in France went without any incidents, only to be followed by this attack.  Georges Fenech who headed a parliamentary inquiry into intelligence and terrorism said about the attack - "it is a predictable tragedy." He said France "is clearly not equiped to fight against Islamic terrorism," in an interview with news channel iTele. This was one of the conclusions of the parliamentary inquiry which called for a new agency to be setup, and merging of existing intelligence agencies. The president of the Provence-Alpes-Cote d'Azur region told BFM-TV about the Hollande administration: "I don't want to hear the usual "we are going to do an investigation." He questioned the Interior Minister Cazeneuve for how a single person could have breached the security line at the Bastille Day clebrations in Nice on a prominent promenade, Promenade des Anglais. ...

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This report in the NYT looks at the support for the AfD stalled at about 11% nationwide but closer to twice that in East Germany where years of neglect have led to voters shifting to far right parties. The view is presented that there is a core hard right of 10%. Yet it ignores or prefers to overlook what happened in the east which provides the real clues to what happened, so that future policy could be designed to address social goals in a way that never happened in Germany. This is in line with developments in China where president Xi is addressing social goals after years of tech and infrastructure expansion that neglected rural areas and urban poor. It is in line also with the same action taken to address social goals in US president Biden's $3.5 trillion workers and families plan. Social Democrats under Mr. Scholz and a younger generation represented by the Greens have the same challenges facing them to come up with the plans to correct these problems in Germany and with a plan designed for the neglected eastern part of the country. Helmut Kohl pushed for reunification of Germany. With the collapse of the Berlin Wall the momentum was set for this to happen. Yet looking back over that period since 1990, German chancellors and administrations for three decades from both CDU and SPD have failed to invest and create opportunities in eastern part of Germany. It makes German reunification an empty concept looked at from outside. The previous administrations including Kohl and Merkel relied too much on market capitalism to do what it has been shown not capable of doing- tackling social goals and economic crises, much less  political storms such as creation of GDR following Soviet army entering Berlinin 1945. Much commentary on the issues in east Germany show people there left to themselves after mass migration out of the east to the west leaving older people and pensioners in the east, and a sense of being ignored or forgotten. US president Biden said today in ther UN General Assembly- "Our shared grief is a poignant reminder that our collective future will hinge on our ability to recognize our common humanity and to act together." And he went on to say the next ten years to 2030 "will quite literally determine our futures."  The Social Democrats under Scholz and the Greens under Baerbock and Habeck have to come up with plans and programs that will increase ease of living and opportunities for a thriving eastern part of Germany, after the failures of market capitalism in its unregulated form during the Merkel years and predecessor administrations. ...

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Pakistan has always suffered from tax collection that is some of the poorest in the world. This leaves little money for badly needed infrastructure and roads. At a time when countries such as Indonesia and India are rapidly building roads and infrastructure, Pakistan depends on projects and financing almost entirely from China.  This means dependence on foreign debt financing such as that of the $2 billion Orange Line, Pakistan's first Metro line in Lahore. This is one of the first projects one of $16 billion in projects started from a planned $62 billion under China's Belt and Road Initiative. The problem is that taking on so much debt leaves Pakistan dependent on Chinese financing, with increased debt payments leading to a debt crisis. External debt will double to over $100 billion from a little over $50 billion in 2013, according to the IMF, reaching 30% of GDP. External financing needs have doubled from 4% of GDP or about $10 billion in 2013-2015 period doubling to over $20 billion and 8% of GDP. A steep increase in debt in a space of only 3 years. Pakistan faces problems similar to that faced by other countries including Ceylon, Burma. Pakistan has fallen behind on debt payments for electricity projects, because of problems getting Pakistanis to pay electric bills. Other problems are that the projects use Chinese workers and Chinese contractors so that they do not generate jobs the way projects would normally generate domestic jobs and growth including pushing domestic firms up the experience and knowledge curve in construction and technology. The opaqueness of the deals lead to a lack of required transparency. The projects also lack the almost zero interest financing from Japan of projects such as the first bullet train in India on Mumbai-Ahmedabad corridor because of the lack of negotiating leverage and other problems.  By early fall 2018 Pakistan is expected to seek IMF financing, which would lead to conditions set by the IMF on how much it can borrow and spend under the Belt and Road Initiative, known as the China-Pakistan Economic Corridor or CPEC. This means effectively that the Wst will bail out a country after investments under the Belt and Road Initiative. ...

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As it grows into a significant player in mobile advertising with about 35% of all mobile advertising, Facebook is looking for ways to put news content on its site. Earlier efforts were less successful. The Ice Bucket Challenge showed some publishers the risks of using a social media platform for news content. With Facebook users spending most of the summer posting videos of people getting water poured on them to raise funds to fight ALS, less links to news sites were shared with users. An initiative called Social Reader in 2011 with the Washington Post was designed to create a sort of newspaper for Facebook, but fizzled out in 1 year after readers found any post opened going to all friends creating a spam effect. Another problem is that news stories are slow to appear on mobile phones. Instant Articles is the latest effort by Facebook to publish news content on its site. Users would not link back to the news website but stay on Facebook. It makes news websites dependent on Facebook in the long run, say news publishers. They are wary of this because economic arrangements such as Facebook giving 100% of the money from ads posted against an article, can change over time. As of March 2015, according to Parse.ly analytics firm, Facebook was the source of 27% news traffic to all news sites, Google 22.7%. Editors of news sites now write headlines in a way that are optimized to appear higher up in search results....

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The old online websites AOL and Yahoo are going through a transformation. Yahoo finalized an agreement to merge its web-search with Microsoft and much of their advertising busiesses. This leaves Yahoo with its popular finance, sports and news websites which are cheap to run as they are mostly aggregators of other websites' content with little that is Yahoo's own content. Yahoo's plan is to expand its audience , especially in develpoing countries where internet use is growing fast, and to package that audience in ways attractive to advertisers. In October 2009, according to comScore market research firm Yahoo had 158 millon visitors in America, and AOL had 98 millon. Yahoo! Mail has 106 million users monthly worldwide, AOL's email service has 336 million. The difference strategy pursued by Armstrong who is new CEO at AOL is to focus on creating new content. AOL is running about 80 websites covering everything from fashion (stylelist.com) and country music (theboot.com) to local news (patch.com). And has launched a website called seed.com to get people to contribute content. In this way it has about 3500 journalists on its payroll, some 500 of them work full-time. Armstrong thinks advertisers will pay a premium to appear next to this original niche site and home-made content. So far advertising has held up in this severe downturn, with online display advertising -the banners and boxes that show up on websites- at about $3.8 billion in the first half of 2009 in America, according to Interactive Advertising Bureau....

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Prime minister Manuel Valls pushes a highly unpopular labor law through parliament without a vote.  About 70% of people are shown opposed to it in recent polls, and it has led to months of street protests. It has also split the ruling Socialist Party ahead of elections in 2017. The law makes it easier to fire and hire workers in the interests of growth and job creation, but unions say it will not increase economic growth and withdraws worker protection.

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50 years from 1975 and the passing away of the 40 year Franco era, and 44 years from 1981 and joining the European Economic Community Spain is still finding its way. This report from Spain in The Times of London looks at the period before 1975 when Spanish politicians of every party came together to support the transition to democracy and becoming part of the European Union. He looks with dismay at the fractious nature of today's politics and the frequent name calling, Socialists under Sanchez and the Partido Popular, Vox party, Podemos, failing to agree on how to handle the Catalonian independence movement. Those who supported autonomy for Catalonia and the Basque region in 1975 did this not as a pathway to the breakup of Spain, but to give room for regional aspirations and difference in language and traditions within the federal union of Spain. Much of this was forgotten in the politics of Arturo Mas and other politicians from Catalonia. Catalonia is now run by the Socialist party, elsewhere in Spain  the Vox party and Partido Popular in Andalusia and the Madrid region remain popular. The financial debt and housing crisis in Spain, the pandemic and other economic problems have affected Spain similar to the rest of Europe, creating problems in the economy which only now have been overcome.  ...

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Analysts say the odds are now three in four that Greece will exit the euro. The young leader of the Coalition of the Radical Left, which came in second with 16.78% of the vote after New Democracy party's 18.8%, says: "We believe that the path of salvation doesn't pass through the barbarity of austerity measures." A new election is expected as talks to form a new government are expected to fail, with the likelihood that more votes would go to parties other than New Democracy and the Socialist Pasok party, the two parties that have governed Greece. This would mean a smaller vote for the two parties, smaller than the 18.8% New Democracy and 13% Pasok received in this election, relegating them to insignificance in the Greek political landscape. And opening a new chapter for Greece outside the euro.

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Only 61% of shareholders present at the annual general meeting voted in approval of the management at Deutsche Bank in May 2015. Legal settlements and lack of trust in strategies of management have hurt credibility. A large part of the lack of credibility comes from the culture at Deutsche Bank which is seen as slow to change. Co-CEO Jain was head of the investment bank when traders engaged in activities that are causing large legal settlements for wrongdoing. Strong criticism came at the annual meeting from shareholders. Han-Martin Buhlmann of the shareholder association VIP raised the question: "Mr. Jain, are you the solution to the problem or part of it?" Alison Esse, managing director of change consultancy, The Storytellers, says shareholders had voted no-confidence against senior management because they lack the credibility to restore the reputation of the bank.

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The top three books in Vanguard's recommended reading list for serious investors say its not more profitable to get into complex investments and strategies- simple investment approaches of putting money in Vanguard core funds or mutual funds of Vanguard and Fidelity are more likely to produce good performance. 2013 was another year in which this proved to be true, and to a remarkable degree. Hedge funds and complex strategies did worse than investing in broad index funds that produced about 29% in returns similiar to the rise in the broad market averages. Malkiel and Ellis suggest the simple approach in Elements of Investing. Swensen in Conventional Investing, and Bernstein in Four Pillars of Investing provide evidence of the wisdom of such an approach for serious investors. All four authors are financial experts who have followed the stock markets for six decades since 1950.

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Term Asset Backed Loan Facility of $1 trillion is aimed at bringing new life to the market for asset backed securities that effectively subsidizes loans to consumers and businesses to buy cars, pay for tution, buy farm equipment or use credit cards. Through the program an investment fund can put down $5 to $14 for every $100 it plans to spend and borrow the remaining $95 to $86 cheaply from the Fed. The investment fund agrees to buy highly rated securities issued by lenders that the Fed deems eligible collateral for the loans. About $10 billion in such loans could be made available to auto lenders, Ford Motor Credit and World Omni Financial Corporation. Modifications to the TALF program are being proposed by the banks, but are being reviewed for risk by the Fed and Treasury.

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This video shows Dr. Birx explaining the three Phases for reopening the U.S. economy. Each state's governor would decide when a state thinks it is safe to move to the first phase. States which have not been affected much and fewer cases in the western part of the U.S. such as Idaho, North Dakota, Iowa could open earlier. Texas could start in May. California would have to do more testing before it starts Phase 1. New York, New Jersey, Michigan and Massachusetts, would come later because of the severity of the crisis. Each phase criteria are carefully set out and parameters set down for social distancing rules to be followed, number of people, locations, how offices open, how stores open, how hospitals open. Germany and the U.S. have set out detailed guidelines and phases. A state in the U.S. could even move back in phases if data shows it is doing badly. Hotspots would continue to be tracked and resources shifted from the federal government quickly to these new hotspots now that medical supplies, medical personnel and other shortages such as testing are being aggressively addressed. ...

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The deep deterioration in U.S. China relations as the U.S. sees itself in a disadvantage in trade with China and the Trump administration imposes tariffs, calls for changing existing supply chains and trade to safeguard U.S. interests. The lack of transparency from China about the coronavirus and the underreporting that led to the U.S. and Europe not taking the threat seriously enough or taking defensive steps is also seen as a part of the deeper problem as the U.S. and Europe bear the brunt of the coronavirus in terms of deaths and cases.  This presents a deeper problem than the trade issue by itself as the U.S. had a trade issue with Japan which was later resolved. The way the Trump administration sees itself as the only protector of U.S. interests in trade, security and international cooperation creates a new level of tensions. Other countries such as Australia, India, Japan, and countries in South East Asia are seen as having similar concerns as supply chains are being remade to reflect the new trading conditions and economic structures. ...

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With coronavirus spread out over wide parts of each country and with so many people infected it is very difficult to do the contact tracing and isolation that was tried during the first wave. In Germany during the first wave efforts for contact tracing and isolation worked reasonably well. During the second wave in November things have changed. In Germany authorites do not know in November where 75% of the people testing positive for coronavirus got it. In Spain this figure is 93% for the last week of October. In France and Italy it is at 80%. In New York it is over 50%. Other problems are the increasing number of cases where the coronavirus is spread in an home setting, the lack of restaurant data collected on who visits, and the delay in getting test results. In Germany frequently people say they cannot remember where they were. Researchers from the German version of the FBI, the Pasteur Institute in France and the Koch Institute in Germany are getting involved in November to understand in what settings the virus spreads most. ...

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The 2008 bailouts helped the very banks and financial institutions that caused the financial crisis through the issuance of bad mortgages. The stock market and economy recovered leaving workers behind who did not benefit and were hurt financially, causing a deep resentment among Americans that led to protest movements. This resulted in the the remaking of both political parties, with Mr. Trump remaking the Republican party, and Bernie Sanders, Elizabeth Warren remaking the Democratic Party, in a sharp shift to protect American workers and American business. A lot has changed since then.The legislation passed in Congress for a $2 trillion aid package is driven by a desire to protect working families first. Companies that get loans are expected to avoid layoffs. The focus is entirely on preserving jobs in American industry and small business. A separate allocation is made for unemployment insurance and direct payment to households so that the safety net is secured. This may not prove enough, so that there is a vigilant attitude in Congress to ensure that workers and working families needs are met in the coming year and years. ...

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BP makes a final settlement with the states and the U.S. government for the Gulf oil spill. Of the $18.7 billion settlement in July 2015, the Clean Air Water Act penalty is $5.5 billion, the Natural Resource Damages are $7.3 billion, the 400 local government claims are $1 billion, the economic claims to 5 states are $4.9 billion, according to BP. Most of the money goes to the states of Louisiana, Mississippi, Alabama, Texas, Florida, for environmental improvement and economic development. Louisiana gets $6.8 billion. The settlement comes after court rulings went against BP. BP chairman Carl-Henric Svanberg, says it provides -" A path to closure for BP and the Gulf. It resolves the last remaining legal exposures, provides clarity on costs." BP shares were up 5.1%, and Fitch Ratings say this strengthens its ratings. For BP this adds $10 billion in cost to $44 billion already incurred for legal and cleanup costs.

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Sabine Kinkartz of the DW.com looks at the way in which Olaf Scholz achieved what was seen as impossible through patience, grit, and hard work in the face of adversity. SPD was seeing poll numbers of as low as 15% in the spring of 2021, just months before the election. Scholz believed in his party's ideas for the renewal of Germany, remained undeterred even after losing an election to lead the SPD to Esken and Walter-Borjans in 2019, when Esken and Walter-Borjans reinforced the idea that the SPD should stand for workers and families, what it always stood for. Scholz was put forward as candidate by Esken and Walter-Borjans in 2021 with conviction. By Spring 2021 it was clear that Scholz had achieved the impossible, getting the conservative Merkel and the CDU, with instincts against borrowing in all situations, to agree to a huge aid package for Germany to fight the pandemic, and a huge aid package for the European Union to fight the pandemic.  That Scholz remained undeterred in his campaign by low poll numbers and went on campaigning on the basis of convictions about what is right for Germans and Germany, comes from deeper convictions from his days growing up in the Hamburg youth wing of Social Democrats in the years following SPD's Wily Brandt and the post war recovery. Germany's most remembered leader after Adenauer, Willy Brandt was leader of the SPD Social Democrats from 1964 to 1987, and chancellor 1969-74. Both Adenauer and Brandt are respected some 50 years later in the world and in Germany. That Germany is going back to this tradition of leadership after the period of the Merkel years when Germany was held back, brings new hope to Europe and the world. In allying with the Greens under a younger generation leaders Scholz saw the promise of an opportunity to tackle problems of climate change and investment in infrastructure together. Both parties see borrowing as essential to invest big in the future. Scholz message to Germans, Europeans and the world is - "Big jobs, but our country is capable of doing them." A message sent out from the US by president Biden, and from Asia by the Indian prime minister. ...

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The failure of regulators is one of the features of the last decade leading to the losses of capital that could have been better allocated to infrastructure, health education and paying down debt in the U.S. and Europe. This WSJ report says fintech or financial technology companies faced little regulation or critical oversight from regulators as regulators tried to foster growth in that sector. This puts more burden on shareholders to be vigilant, it says. Wirecard went into insolvency with huge losses and debt and accounts in the Philippines for over a billion dollars that were later proved not to exist. The astonishing aspect of the Wirecard scandal is the way German regulators not only did not investigate but pushed back against critics of the company's finances, that there was something fishy about the finances. Wirecard was established in 1999, and is described as a slow-burning story since 2016 when the stock price took off for a wild ride. This report says government regulators are relaxing important rules in the hope of coming up with a winner- this is proving to be a dangerous exercize and an exercize in folly, as it leads to losses of capital with no one taking responsibility among government officials or regulators. In the case of Wirecard the German officials even filed a criminal complaint against accusers, and banned short selling. of stock.    British and European financial watchdogs are acting as cheerleaders and watchdogs at the same time says the WSJ. Watch out it says when regulators play this kind of double role. During the financial crisis of 2008 the revolving door between companies being regulated and the regulatory agencies themselves was a defining feature of that period leading to huge losses of capital. Today this has taken on a new  and additional dimension, each time making things worse, even as infrastructure investments, investments in health and education are being deprived of capital because they benefit the public, and are not a benefit to small groups of well connected people willing to flagrantly conduct activities such as setting up accounts that do not exist for over a billion dollars.   ...

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Because of anti Bush and anti american feeling every crank politicain or simply gangs fighting turf wars and even bandits or thieves can call themselves Taliban. Also the Wahabist religion of militants is not the religion in the Sind and Punjab 2 main provinces of Pakistan. And some of these areas like the Northwest frontier province and the areas bordering Afghanistan like Afghanistan itself have an independent streak and don't take well to any foreigner be it the Russians, the Pakistanis (Punjabis and Sindhis) and to the Americans or going back to the colonial era the British. Its convenient and a easy label for a lazy media that hasnt done its homework, and for politicians who lack the education and disposition to do their own homework or a cultural barrier that makes this difficult to call all this one label Taliban, or some other label, but its dangerous as the manner of dealing with this may be quite different given a correct understanding of whats happening. When turned over to the American people living in a modern world or to modern world Europeans for response to these labels there is only the gut instinct of them versus us the core feeling of something different and alien which is hostile. As this writer points out the Pakistani people themselves by and large are simply like people everywhere, may just be looking for better lives like the rest of us, and are not keen on the militants though they may carry anti Bush feelings. And the Pakistani people resentment for the USA not because of some innate or inherent hostility but because they feel left out of the modern world and its benefits of development like infrastructure, hospitals and basic services, just like most of the developing countries, which have alternated between hostility and friendship towards the USA, just as the USA has alternated between truly benevolent policy towards the developing world and policy thats more in tune to a prior colonial period of its partners in Europe like the British and the French. And in this sense the Pakistani people desire for economic progress may not be automatically construed as expressed through the politicians as they are corrupt and selfserving. Its a complex state of affairs sure but its not made easier but made more complicated by lazy man's labels without understanding the situation on the ground first hand and doing one's homework. ...

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Douthat offers insights into U.S. president Obama's thinking when he said at a National Prayer Breakfast, that Christians also had committed bad acts in the name of religion and reminded listener of the Jim Crow days when blacks were oppressed by church going Christians. The Crusades were a long battle against an advancing Islam over several centuries and many regions, says Douthat, and do not quite compare with the actions committed by an individual organization such as Islamic State in 2014-2015. The Jim Crow reference comes from personal experience during the fading days of racial discrimination. Yet says Douthat this reference to Christian culpability does little to bring the criticism back to self that the writer Niebuhr, Obama's role model, suggests, because it does not take the criticism back to self or political party to serve as useful introspection. It is almost like saying Christians are just as bad,(so why act?) without distinguishing from Christians and Muslims who respect tolerance and peaceful coexistence from those who do not. It also encourages one to remain a bystander in foreign and defense policy, leaving a younger generation with any future consequences. Ike does better by bringing self-criticism home to his own party and ideological wing by talking about the military-industrial complex and the problems it will create....

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Even as huge losses continued at RBS bank bonuses remained high. After $15 billion in losses at RBS in 2013, banker bonuses were $960 million for the year. Banker bonuses declined from 679 million pounds in 2012 to 576 billion pounds in 2013. New CEO Ross McEwan, says "I need to keep people engaged." He announced another reorganization. He says RBS "is the least trusted company in the least trusted sector of the economy." This follows public criticism of RBS for not lending enough to small business and unfair treatment of customers. The new plan is for cost cuts to save 2.2 billion pounds by closing 16 corporate call centers and 11 offices in London. Sales and restructuring cuts are planned for 3.1 billion pounds in savings.