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Patrick Soon-Shiong Surgeon, medical businessman and LA Times Owner, bought the LA Times for $500 million in 2018 which is now incurring losses of $48 million. He wants to take the LA Times public with an IPO offering. Soon-Shiong made $6 billion with blood thinner heparin of APP Pharmaceuticals and Abraxis Biosciences chemotherapy drug Abraxane, both firms he founded.

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Car repair costs surged 28% over the last 3 years from 2021 to 2024. A fender bender can end up costing a lot. Even a rear view miror can end up costing $1200 to $1500 for a 2020 car with the heating element and sensors on these cars. It compares to $200 to $400 on a 2013 car. The average repair cost in 2023 was $4700 for an insurance claim up 7.5%.

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After 3 decades the US is finally offering the scale and scope of infrastructure investment overseas that is needed. President Biden says $200 billion will be invested in infrastructure overseas over 5 years at meetings of the G-7 in the Alps south of Munich in Germany. Along with its partners and with government and private investments the size of the investment will reach $600 billion over 5 years to 2027. This will include projects such as $2 billion for solar energy in Angola, and a $600 million submarine telecommunications cable connecting France to Singapore.

It is a combination of direct government aid and private investment. President Biden sees Build Back Better World as the overseas version of his Build Back Better America for workers and families in the US for which Congress has authorized $1 trillion in infrastructure and climate change initiatives in the US.

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A new House bill would give the FDA new funding to finance more food inspections and hire more employees for ensuring nations food safety system works properly. Inspections would go up from 7000 to 9000 and 350 more employees would be hired. To help fund this $500 per facility would be charged to food companies each year in fees.

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Microfinance turned into a for profit industry with interest rates upto 100%- $217 billion loans outstanding in 2026 and 140 million borrowers. It has turned into a disaster for borrowers, for women and families, with high interest rates and for profit companies using the favorable media presentation to charge high interest rates. The World Bank and the IDFC public institutions in the US have also financed these loans.

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The NYT gives a graphic visual that shows what is in the biggest climate bill in history. The bill reduces health care cost, changes taxation of corporations paying little or no tax, and invests in renewable energy. It also reduces the deficit by $300 billion. Common sense approaches such as Medicare negotiating with pharmaceutical companies for medicines it buys for the public are also put into law - an egregious fault of the way politics was distorting fairness in America is corrected, saving taxpayers about $100 billion that is then invested in tackling climate change and assisting clean manufacturing of renewable energy.

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The Indian prime minister reviewed progress of the vaccination drive. On July 26, in the last 6 days about 38 million doses of vaccine have been adminstered in India. In a separate affidavit to the Supreme Court the government laid out its plan for making enough vaccine supplies to vaccinate the entire population over 18 by December 31, 2021, over 940 million people requiring over 1880 million doses.  "Out of this requirement for 1880 million doses 516 million doses will be made available by July 31, 2021, in about 34 days. The remaining 1350 million doses for complete vaccination to the eligible population" says the government information provided to the Supreme Court. The breakdown of vaccine supplies manufacturing is also given to SC. Of the total of 1350 million vaccine doses the following is how it will be manufactured in India in the next 6 months. Covishield  vaccine     500 million Covaxin vaccine          400 million Bio E Subunit vaccine  300 million Zydus Cadila DNA vaccine  50 million Sputnik V  vaccine          100 million The government told the Supreme Court that the procurement of Bio E Subunit vaccine and Zydus Cadila DNA vaccine will be subject to approval that is expected in the near future. From this new vaccine supplies picture it is clear that Covaxin and Bio E Unit will play a major part in the second half of 2021 in vaccinating India's entire population with 2 doses. This would be a historic achievement for the federal government after the lessons learned and the action taken with a new vaccine supplies policy for India in June 2021. There is also the challenge to be overcome of maintaining the vaccination drive at 6-8 million doses a day which would be another historic achievement for the federal and state, and local governments in India working with community education and logistical setup, medical staff.  ...

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For groceries cost limiting Trump proposes nothing. It was found in the EU that there was excessive price action by grocery stores in 2022 and 2023. Though experts say no for price setting by government, the deterrent effect of a policy of the government to not set prices but to send a clear message about excessive profit as anti-social behavior, has beneficial impact for price reduction or future price increases to be put on hold. Harris will do this. For child care costs. Trump proposes nothing and does not put children as the next generation of Americans at the top of priorities. Harris puts children as the top priority and early years development as critical. Harris proposes a child tax credit of $6000 per family that would cost $110 billion per year estimate from Office for Responsible Budget, offset by Medicare savings achieved by negotiating with Pharma of $36 billion a year, tax on billionaires at 25% instead of 8.2% saving $40 billion a year, for net cost of $44 billion a year the Harris $6000 Child Tax Credit.  Congress including Democrats failed to extend the $3600 tax credit per child below 6 years that was introduced after 2019 yet allowed to expire in 2022 reverting to $2000 per child under 6 years. The concept is accepted as helping children, Vance the Republican VP nominee has suggested $5000, only opposed by country club Republicans oblivious to the importance of children having free school lunches and parents having the money for child care added costs for the future of the children of this Nation.     ...

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The odd situation in India where 50% of 43,000 coronavirus cases on July 28 are in just 1 state in the southwestern side of India on the Malabar coast. The next state is Maharashtra with 6000 cases and other states have about 2000 cases each including Andhra Pradesh.

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What oil prices are doing to the redistribution of wealth across the globe. How rich and poor countries are coping. Money going to gasoline is still only 4% of disposable income of U.S. households and the USA hasn't lost its addiction to large vehicles, though there has been a moderate shift to smaller cars and SUV's. Chinese demand keeps growing. Fuel Economy standards are only now being changed and few alternatives are emerging quickly enough to make a difference in the short run. Though a worldwide recessionary climate could change things, no major change is expected. Airlines and the auto industry will be the most affected industries. Global warming and CO2 emissions will be a factor in evaluating how well these alternative are working. With oil and gas prices high, unfortunately coal use is increasing both in China and elsewhere. And ethanol hasn't won popularity because it uses up scarce resources of land, water and energy. A big change is the shift to most of the action going to government oil companies of developing countries, which are much larger now and have the resources to handle what the oil majors did before. Western oil service companies are working with government oil companies bringing access to technology....

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Europe's largest river restoration on the Meuse river in the southern Nether lands. The river was widened and the banks lowered. wildlife and birds are coming back. People can walk the length of the river along paths on the banks.

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Foreign direct investment in Indonesia surged 30% to 51.5 trillion rupiah ($5.6 billion) for the first quarter of 2012. Indonesia's Investment Board says the mining sector gained $1.1 billion of FDI, telecom $800 million and plantations $500 millon. Singapore invested $1.2 billion, Japan $600 million, and S. Korea $500 million. Meanwhile S&P retained the BB+ credit rating for Indonesia because of concern about the government's decision not to raise subsidized fuel prices by 33% to cut a fuel subsidy bill of $15 billion, and other "policy slippages."

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The Chinese 90 seat regional jet called the ARJ21 made by government run AVIC I Commercial Aircraft Company has about half of its equipment supplied by US companies. Its maiden flight is Septemeber 21. Canada's Bombardier is investing $100 million in the larger version of this plane citing parts sharing and cost saving potential for its own jets. The Chinese market is expected to grow at about 9% annually according to Boeing's forecast. China will spend about $600 million on the program for ARJ21 according to Chinese aviation officials. The ARJ21 also called the Flying Phoenix has 206 of the 300 orders it needs to breakeven. The plane is targeting the high altitude airports and the lightly travelled routes of western and central China. China is also looking to sell the plane in emerging markets of Malaysia, Turkey and India. According to General Electric China will need at least 500 regional jets over the next 20 years. GE which makes the engines for the ARJ21 sees the 500 jets equal to engine orders of $15 billion. Other companies that are looking for supplier orders are Parker Hannifin, Goodrich, and Mitsubishi....

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Kuwait oil production cut as storage fills up March 2026. Fewer tankers are making it through the Straits of Hormuz. Huge inventory on tankers in ocean waters and the added supplies from Venezuela help relieve the pressure on oil supplies as Iranian oil production stops. The US allows India to get Russian oil for 100 days in this special situation of war in the Middle East region. 

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The Lewinsky scandal broke out in January 1998. Bill Clinton admitted "an imprpper relationship" in August 1998. The vote to impeach Clinton was in December 1998. The acquittal took place in Jan-Feb 1999 with the lack of a two thirds majority of 67 votes in the Senate. The damage is not just in reputations. It is in distraction sufficient to lead to flawed legislation that lacked key provisions for the China US Relations Act of 2000 that was taken up by the Senate in May 2000. Could such a major step be taken in the last year of a lame duck administration? Republicans returned to the White House in December of 2000 with George Bush. There were no provisions in the China Relations Act for abuse of the status after joining WTO through unfair trad practices. The result is millions of jobs lost and the entire manufacturing base of the US and Europe shipped to China by 2019. Under Xi Jinping China returned to an adversarial relationship with the US on the issues of Hong Kong and Taiwan. It could have done serious damage to the 1.4 billion people of India as the gap between China and India opened up dangerous security implications for South Asia, a time when governance model of the Nehru era had failed by 2014 leading to fragmentation of the kind that happened in China when Japan had surged ahead in the 1920's and 1930's leading to the devastating war and Japanese invasion of China in the 1930's by provoked incidents. It shows the grave consequences of poor governance including the periods under Bush and Obama that led to decisions to get into wars in remote mountainous and desert regions. A series of such events can as shown by Joel Mokyr of Northwestern University, that can lead to permanent decline for regions and nations. Under both Biden and DJT an effort is underway to respond to these challenges. ...

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The head of the hospital group that represents 39 public hospitals in the Paris region APHP, Mr. Hirsch, says that by October 24 about 800 to 1000 coronavirus cases in intensive care ICU are expected taking up 70 to 90 percent of capacity in the Paris region.This has placed added urgency to the actions of the French government and tougher measures are expected following the Macron announcement of a curfew in Paris region and eight metropolitan regions in France.

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Sprinter Dutee Chand of India prepares for the Tokyo Olympics running in the 100 metres and the 200 metres. She describes her efforts as she competes for the Sportswoman of the Year award.