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News Corporation has designed a newspaper for the internet with the personal involvement of Rupert Murdoch. The newspaper is called The Daily and will be supported by Apple for the I-Pad. Pricing is 14 cents a day, 99 cents a week, or $40 a year.

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Apple will continue to take 30% of the subscription price for customers Apple brings to its App store. Apple's policy for news subscription services also requires these services to keep prices at the Apple app store no higher than prices on the news subscription service's own websites.

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What is the Winter Fuel Payment in the UK? The Independent provides some answers. It was introduced in 1997 by a Labour government in Britain. It now provides 200 pounds to people over age 66, and 300 pounds to people over age 80. To get this payment pensioners and retired people have to be eligible for pension credits. This is possible if your income level is - Income at £11,343.8 a year if single, or a shared income of £17,313.4 for two or a couple is what qualifies one for this winter fuel allowance. The British energy authority says winter fuel costs will rise by about 300 pounds. This means a 500 pound hit to budgets of pensioners who are not eligible for winter fuel allowance under the Labour plan. The Labour plan is to do this because of the hole in public finances left by the Tories of 22 billion pounds. Starmer and Reeves say this is needed and the responsible decision. One million pensioners face a loss of Winter Fuel allowance and Age UK says: “Older people in this group often tell us they really struggle financially; the proposed change will make it even harder for them to afford to stay warm when it gets chilly. ...

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Applebaum provides an indepth look at the experiences and events that shaped the thinking of Janet Yellen, new chairwoman of the U.S. Federal Reserve in 2014. He describes the influence of Professor James Tobin of Yale on Yellen's thinking on how the government can influence the level of unemployment. A must-read for insights into the new Fed under Yellen.

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Mr. McDonnell, says to loud applause at the annual Britain's Labor Party conference in Liverpool- "the greater the mess we inherit, the more radical we have to be." Mr. McDonnell told the Labor Party that the power balance had shifted against labor and workers in the last decade. The Brexit Secretary of the Labor Party left the option open for a second referendum on Brexit with the option "remain." Serious divisions have emerged within the ruling Conservative Party in Britain on the issue of withdrawal from the European Union. For the first time the Labor party conference endorsed the idea of nationalizing utilities, postal and rail companies and setting up a fund that would finance a $650 annual dividend for workers, with 10% of stock reserved for workers in companies with more than 250 employees. About a third of the seats will also be reserved for labor on company Board of Directors so that worker interests are better represented. Stagnating wages and low productivity is a major issue for the Labor Party in Britain. Mr. John McDonnell, as economic leader of the Labor Party, cited the words of the Archbishop of Canterbury, critical of the current situation with stagnation and low wages, lack of upward mobility. ...

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The UK corporate tax rate is set to go down to 17% in 2020. To discourage the one fifth of British companies planning to move headquarters overseas the Theresa May government plans to accelerate the lowering of the corporate tax rate. The Trump administration is considering reducing the corporate tax rate down to 15%. Ireland has a tax rate of 12.5%. The move by the Trump administration would reduce the incentive for inversion by corporations trying to reduce taxes by moving overseas.

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Glaxo tries new approaches of open-source development to R&D for a malaria drug. Glaxo will now share this data on 13,500 chemical compounds that inhibit malaria in its database with volunteer researchers from outside.

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The government criteria for injecting funds into banks discourage lending to banks that are not healthy and unlikely to survive, considering this a poor use of taxpayer funds. This will lead to fewer and healthier banks.

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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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Karl Rove, advisor to President George W. Bush, and organizer behind American Crossroads political action committee, says the election will be decided by the higher support for Romney among independents and the high turnout of Republican voters. The prediction for the voter turnout among Republicans is 36% Republican vs. 35% Democratic, according to Gallup. This compares with the 39% Republican and 37% Democratic in 2004, and 39% Democratic 29% Republican in 2008. The early and absente ballot voting advantage has significantly gone down almost by half for Democrats as more Republicans cast early votes in swing states like Ohio. Closing statements and crowds also appear to confirm this trend. Rove sees this as 51% to 48% favoring the Republicans. The addition of swing states - Michigan, Minnesota and Pennsylvania also appears to suggest that a broader movement is underway that is happening right now in the final week before the election on Nov. 6, 2012. Rove focusses on the numbers. A behavioural assessment shows the importance in this campaign of the centrist position adopted by Romney in the closing months of the campaign; the selection of Ryan which gave Romney support from the Republican conservative base so that he could talk freely about his record in the liberal state of Massachusetts to independent voters and women, and most important the clear message to voters focussed on a five point plan to get the economy recovery were critical in shaping these numbers....

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ESPN television network sports reporter Allison Williams leaves ESPN after refusing to follow ESPN's vaccine mandate because of fertility concerns. She starts a sports series at the conservative Daily Wire which advertises her series as "sports without the woke." Woke started out as a term for black people who felt marginalized, but has changed meanings several times and is a classic example of how meanings change with internet use. Woke now also means people who feel they are being discriminated against for their views. Mrs Williams, 37 years old, says she wants a second child and is concerned that this could affect her fertility or her pregnancy, according to an earlier interview with WSJ.  How the vaccine mandate and companies implementing the vaccine mandate handle it to accomodate concerns of this kind will be a test of its effectiveness and perceptions about its sensitivity to human concerns beyond politics. For people with health concerns new solutions are needed. Abraham Lincoln faced a similar situation after the civil war that Biden faces today and there is much to be learned from his words- "with malice towards none, with charity for all," to bring together all Americans.    ...

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This story by Asa Fitch of the WSJ shows how NVIDIA co-founder Jensen Huang, built NVIDIA into a major semiconductor company. He did this by developing faster chips for graphics and other uses using parallel processing instead of sequential processing. It is now a rival to Intel as it plans an acquisition of ARM Holdings in Britain. Huang started NVIDIA in 1993 when computer users wanted faster computer graphics.  NVIDIA has about $10 billion in sales compared to larger rival Ital with $72 billion in sales. With its efforts in AI and other tech fields NVIDIA now surpasses Intel in valuation. Softbank bought ARM Holdings in 2016 for $32 billion. It is now looking to sell ARM to NVIDIA or another buyer. Problems it faces in the acquisition is British laws that may decide to prevent approval for sale of the company and the loss of jobs. ARM based in Cambridge has 6700 employees. ARM makes the chips for smartphones. The trade war between the U.S. and China and the sale of ARM chips to Huawei are also factors that will be considered in British approval or disapproval of this sale of a British company owned by Softbank of Japan.  ...

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In his monthly television address called "Mann Ki Baat" prime minister Modi apologizes to Indians for the complete lockdown of the country. Modi said "for a a country the size of India we need strong measures. Nobody likes to take strong measures, but it is the only option, seeing other countries and learning that the disease must be dealt with at the beginning before it becomes incurable."  He cautioned that social distancing did not mean emotional or human distancing. Sympathy and cooperation are needed. He called frontline healthcare and sanitation workers "warriors" and "soldiers," and promised Rs 50 lakh (5 million) insurance for 20 lakh (2 million) such workers. He also commended the work of shopkeepers, drivers, bank workers and others to keep essential services running. Modi suggested now is time "to not go out, but to look within yourself. Try to know yourself." He gave examples of recovering doctors and workers, and of finding new hobbies. In coming time he said every Indian will try to break barriers for the country's development, once this crisis has passed. ...

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To unclog the market for commercial paper the Fed will lend directly to companies for the first time. This is a $1.6 trillion market used by banks and companies for short term loans to fund their day to day operations. This is is a attempt to keep that market functioning with federal intervention.

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The director of the Institute of Population and Labor Economics at the Chinese Academy of Social Sciences, Cai Fang predicts that by 2009 there would be a widespread shortage of workers, pushing up industrial wages. Figures from the UN Population Division show that China's working age population will decline in the years ahead. There are two things here that matter. The millions of people in a socalled surplus labor force that can be tapped so that industry can hire more people expand and grow without wage inflation, and second the working age population 20-29, younger people being preferred by employers for the long hours, single people who can stay in dorms and can be mobile to move near factories and do not have the restrictions of married people with children. The one child policy has limited the growth of the working age population. After rising by 1.3% a year according to the UN Population Division during the decade to 2005, the population of working age is expected to increase at an annual rate of 0.7% until 2015, and then shrink by 0.1% ayear until 2025. The surplus labor pool figures estimates vary from 150 million people to 200 million people, but the Economist estimates the true figure to be much smaller because government figures for the rural labor force include millios of migrants already in the cities and others working in rural industry not farming. The population of workers in ages 20-29 fell from 233 million in 1990 to 165 million in 2005. Because of this shrinking of supply of eligible labor especially considering the preference of textile and electronics firms to hire young women because they complain less and put up with long hours and for single men preferred by construction firms, Cai Fang believes that this preferred or eligible labor pool is shrinking to the point where it will be a problem in the years ahead. This will have the impact of shrinking the growth rate to around 7% sometime after 2009. Problems that remained under cover because of the Olympics will also become evident as 2008 winds down. Some experts argue that there are other factors that will contine to sustain the pool of available workers, but its this pool of preferred available workers that will be in short supply according to Cai Fang. ...

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Public opinion in Germany now senses that politicians including Angela Merkel are reluctant to tell Germans that debt reduction has to be part of the solution for Greece, that some of the billions are lost and never coming back. They sense that Merkel and the Christian Democrats are waiting till after the elections in 2013 to bring this up directly. Even people on the street in Berlin know that Greece can never get back on its feet on the basis of spending cuts without debt reduction. The loan instalment approved in Nov. 2012 reflects the new approach of debt reduction but the German government is reluctant to talk about it. Opposition parliamentary leader Frank-Walter Steinmeier of the Social Democrats told ZDF German television: "The debt cut has not been avoided, it has been postponed to a time after the parliamentary elections. We are realistic and try to tell the people honestly and sincerely whats going on. Schauble and the present government try once more to finagle their way around the truth." Greece's debt has already reached 170% of GDP and can only go up as the economy shrinks further in year after year of recession. Norbert Barthle, a senior Christian Democrat, says if the debt reduction takes place today it sends the wrong signal to all the program countries, reducing the pressure for reforms and changes....

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Difficulty attracting foreign investors to India's bond market. After adjusting for consumer inflation India's three month Treasury bill pays a negative 2.3%, according to Citi. Official foreign funds data for India shows as of Dec. 16, 2013, that foreigners used up only 32% of the quotas assigned to them in the bond market. If they were to use up the entire quota this would be $81 billion compared to the deficit for the year ending March of $50 billion. Foreign investors also have to deal with the risk that the currency could depreciate as in the summer of 2013, for which they need higher interest rates. The RBI increased interest rates twice since Rajan's taking office in September 2013. During 5 months of 2013 foreigners made a net withdrawal of $12.9 billion.

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Vauban is a "car- free" upscale communitynear Freiburg, Germany, close to the German-Swiss border. Except for the main street where atram to Freiburg runs, and two parking lots outside the community, there is no place to park cars. About 70% of the people there do not have cars and 57% sold their cars to come here. There are no car garages or parking places with each home. Bicycles are hte main means of transport. Vauban hasd 5500 residents in one square mile. The basic concept of having stores placed only awalk away is being followed more and more as America and Europe shifts away from intensive auto based use of space for living. The whole post war location of housing and stores and community activities was based on large use of the automobile. This is now going through big changes. David Goldberg, of Transportation of America says " how much you drive is as important as whether you have ahybrid." A fast growing coalition of hundreds of groups is advancing the cause of building communities with stores only a walk away and less need for the automobile to get around. Outside Hayward, California, Quarry Village is anew development that is trying to reduce autos to one per home. So car based is American culture that most zoning laws require 2 parking spaces per residential unit, and in the federal transportation bill 80% of appropriations in prior years used to go by law to highways and only 20% to other transport. This even though passenger cars are responsible for 12 percent of greenhouse emissions in Europe , and upto 50% in some car-intensive areas of the USA. One solution to the problem is to use smart planning to avoid the suburban sprawl, and shift to smaller more fuel efficient automobiles, and build better mass transit and rapid transit and fast rail linking most towns and cities, that will moderate all the excess that took place after the war. This may be the direction smart planning is taking us, and places like Vauban remaining niche communities for green advocates and a sort of reminder that its possible to go in this direction....

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Speaking at the Davos forum, economist Nouriel Roubini, who correctly predicted the global economic crisis, says this recovery is likely to peter out by the end of of 2009 with a long period of "sub-par gowth" ahead. His optimism for the emerging market economies is tempered by what he sees as an "asset price bubble" developing in China, Russia's aging population and political obstacles to structural overhauls in Brazil and India. In the U.S. and Europe other economists also generally agreed that the recovery will be "U-shaped" or "W-shaped" implying this recovery in late 2009 will not last beyond 2010.

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The new coalition government in Britain has cut direct state funding for teaching in universities by 40%. The current cap on tution fees of 3,290 British pounds a year will be removed The universities Minister, Mr Willetts, suggested a cap of 9000 pounds a year. Students pay after graduation and after earning more than 21,000 pounds, at a rate of 9% of income above that level. Graduates in future will pay 3% interest above retail price index of inflation, compared to zero percent before this. But the interest rate drops to zero if the graduate loses his job or enters lower paid work.

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Citigroup will keep Nikko Cordial, Japan's third largest brokerage firm, for which it paid 1.6 trillion yen or $17.95 billion in 2008 before the global financial crisis. The hope is that it will be worth a lot more in future years as Japanese households with $15 trillion in assets mostly in cash buy more financial products from Nikko. Today only 10% of Japanese assets are invested in stocks and other similiar financial assets, compared to 30% in the USA. Citigroup is also keeping the retail banking business of Grupo Financiero Banamex in Mexico as part of its overseas expansion strategy.

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Map shows new troop deployments for tens of thousands of new troops (20 to 30 thousand) to be sent to Afghanistan under the new strategy to salvage the situation there. All of these new troops will go into the countryside and especially in the opium growing region in the south and Helmand valley region. And also on the border with Pakistan. This will effectively double the number of American troops in Afghanistan. The boom in growing opium in the south has increased the funding of Taliban insurgents to hire new trrops and to get new weapons.

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The administration hopes to seize the initiative on the regulatory framework agenda before the G20 meeting on April 2, 2009. Broad outlines of the approach will be laid out. One of them is to give the Fed the authority to oversee the regulatory framework and oversee systemic risk. It includes stronger capital requirements for banks especially in good times, give regulators power to take over financial firms that are failing. Also included will be consumer protections, and strict enforecement of consumer protection laws opn credit cards and mortgages, and giving the government comprehensive authority over all financial products marketed to consumers.

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Spain opened the books for regional governments to reassure investors. The figures show the average deficit across 17 regions at 1.24% of GDP at the end of the third quarter, according to the Finance Ministry. Risks include additional spending items in the final quarter and a further drop in tax revenues. Fore several years before the current crisis even when the central government was running a surplus, Spain's local and regional governments ran deficits. Regional governments account for about half of all public spending in Spain, compared to 20% for the central government, with social security accounting for the rest. Catalonia was forced to raise money through patriotic bonds, and Valencia is also following this, as Spain's regional governments have been shut out of international credit markets. Moody's Investor's Service provides a different perspective, as it said in November 2010 that Spain's regions will find it "very challenging" to meet their budget targets for this year and next. Moody's view is that the central government has strong incentives to come to the aid of regional governments should they be shut out of credit markets for an extended period. The Zapatero administration lacks a majority in Congress and depends on regional parties for support. Madrid's municipal government has requested funds to refinance its 7.2 billion euros debt. About 4 billion euros went into putting the capital city's ring road underground. Regional government's will need to refinance 30 billion euros in debt in 2011....