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LyrArc brings in selected articles from many of the world's top publications.

Articles are selected by experts and you can see the gist of the important articles.

Inflation May Soon Ease, but Not Enough

  
WSJ - 06.10.2022 Original article ›
Justin Lahart
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US inflation in May was up 1% over April 2022, and 8.6% above a year earlier. Of the 1% increase in May over April about half was from increase in prices of appliances and furniture and consumer items bought from stores such as Walmart and Target. The trend is shifting quickly as buyers are shifting purchases out of this category and spending more on travel and eating out, entertainment. Retailers such as Target are stuck with excess inventory and plan to discount items. This will result in an easing of inflation.

Shortage of semiconductors for cars are persisting but should ease at some time. Service cost continue to increase. Overall there should be an easing of inflation but not enough for the Fed to change its policy of interest rate increases.

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Economist Adriana Kugler in Her Own Words

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WSJ - 05.12.2023 Original article ›
Gwynn Guilford, Paul Kiernan
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Adriana Kugler a Labor economist at Georgetown is president Biden's nominee for the Federal Reserve Board. In 2021 she was nominated as Executive Director at the World Bank. Her work is on how labor and social policies can improve the lives of working people, help create jobs, and help the less well off get education and training. Asked about Biden nominating labor economists to top jobs she says-"This is the key issue of our time. This is what we need to fix." As the first Latina in this position at the World Bank, Kugler who is a Colombian-American says, "they view me differently," and have a sense of being heard by someone who understands what it is like ot grow up in a developing country.

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What’s Going On With the Housing Market?

  
WSJ - 12.07.2022 Original article ›
Nicole Friedman, Nick Timiraos
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US housing prices are seeing a decline in 2022 as a result of the Fed's interest rate increases even though there is no extra supply of housing. Renters are staying away from high mortgage payments at the higher rates, and families with a 3% mortgage are staying put rather than risk making larger mortgage payments for a new home. Fed's Jerome Powell has this to say- "You had housing markets go up at very unsustainable levels and overheating. Now the housing market is going through the other side of that and hopefully coming out at abetter place." This is more like the drop in demand for housing in 1979 which revived in 1983 after the Fed eased up on increasing rates, says the WSJ.

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India is a huge – but elusive – trade prize for Boris Johnson

  
The Guardian - 04.21.2022 Original article ›
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India UK trade has been neglected over the years. In 2021 India accounts for less than 2% of total UK trade. During the period before the pandemic 2010 to 2019 UK exports declined by 3%. During that time the US increased exports to India by 79%, Canada by 62%, and France by 58%, says this report in The Guardian. This happened even though India is the leading country in the British Commonwealth and one would expect much stronger trade ties. This is one reason UK prime minister Boris Johnson is putting a high priority on building up trade with India during his visit to India. UK Trade Secretary Anne-Marie Trevelyan seeks to double the current 22 billion pounds trade between India and the UK by 2030.

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Global Minimum Tax Could Bring Governments Higher Revenues Than Thought

  
WSJ - 01.18.2023 Original article ›
Paul Hannon
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A second estimate by the OECD increases the revenues generated from the global minimum tax of 15% on corporations by as much as $150 billion. The original estimate was of $150 billion, so the real amount generate could be twice that. It means it will help countries build the infrastructure they need to revive their economies.The international tax agreement of 2021 sets the rate based on where companies sell to consumers rather than where they are based. It is the most important tax agreement in a century with 137 countries participating. 

The original estimate estimated revenues to be $150 billion- it raised this to $200 billion. It sees $200 billion in existing revenues that will be reallocated up from $125 billion. Taxing rights will generate additional $36 billion.

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Why are so many Indians leaving India? | India News - Times of India

  
The Times of India - 04.09.2023 Original article ›
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The large Indian communities living overseas has always been an important factor in India's development, the remittances, the two way flow of technology as ideas and scientific knowledge is brought back. This was true for China in its period of rapid development and is true also for India today. This report looks at Indians giving up citizenship (about 225,00 in 2022) yet most of the people interviewed  in this report say they do this only because there is no dual citizenship route. There are some areas that Indian business can improve on easily which are work life balance which are the reasons some have chosen to live overseas- this would also improve the productivity of the workforce and needs to be considered by Indian business leaders for their companies. 

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Overview | Mission – NASA's Europa Clipper

  
NASA's Europa Clipper - 04.16.2023 Original article ›
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The European Space Agency's Juice is not alone in exploring the moons around Jupiter by 2031. One year before the Juice reaches the moons around Jupiter, NASA's Europa Clipper Mission will reach Jupiter- in April 2030. That missions launches in October 2024 and follows a Mars-Earth Gravity Assist trajectory. It will make 50 flybys over Europa, one of the moons around Jupiter, some as close as 15 miles. With its massive solar arrays this will be the largest spacecraft developed by NASA for a planetary mission. 

Europa shows evidence of an ocean of liquid water below its icy crust. This is one of the places considered to be the most promising for habitable environments in our solar system.

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Germany seeks to wean itself off Russian energy imports | DW | 25.03.2022

  
DW.COM - 03.25.2022 Original article ›
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Germany's Economy Minister Robert Habeck says Germany has plans to almost completely end Russian energy imports by the end of the year. For this to happen Germany has to make extensive progress in cutting oil imports in a short time. By the end of summer the Russian energy imports will be cut by half. The effort is significant because before the invasion of Ukraine Germany received 50% of its coal, 55% of its gas, and 35% of its oil from Moscow. Coal deliveries will end by the end of autumn. 

Habeck confirmed that current contracts with Russian companies to import energy will not be renewed. He also confirmed that Russian gas deliveries will take longer to be stopped- not till mid-2024.

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E.U. seeks to block import of commodities that drive deforestation

  
Washington Post - 11.18.2021 Original article ›
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EU measure that seeks to curb imports of coffee, cocoa, soy, beef, palm oil and wood when it is determined that it drives deforestation in the source country. To qualify as "deforestation-free" the land on which these food and other products were grown cannot have been deforested or degraded since Dec. 31, 2020. Demand from European Union countries for commodities such as beef and cocoa are strong drivers of deforestation, says Frans Timmermans, vice president of the EU. This comes after COP26 Glasgow conference where over 100 countries signed an agreement to end deforestation. The EU commissioner for the environment says "we can't ask for ambitious policies on the environment from partner countries on the one hand and support deforestation on the other."

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GlaxoSmithKline and Sanofi report strong results in trials of Covid vaccine

  
The Guardian - 05.17.2021 Original article ›
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The French British collaboration effort will bring a new vaccine to the global effort against coronavirus. This vaccine was expected in February 21. It will be ready by the third quarter of 2021 just as vaccine supplies are being ramped up. The Sanofi Pasteur unit and GSK Glaxo SmithKline are the two companies in this vaccine venture. This vaccine will address the problem of new mutations of the virus in the British and South African versions and can be stored at normal temperatures. 
 

The new vaccines will boost supplies just when the situation is bleak for vaccine supplies in Latin America and Africa, South East Asia, places left out in the vaccine race in advanced countries and in India. Britain has ordered 60 million doses. 

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Tough going for Andrea Pirlo with Juventus honeymoon barely over

  
The Times - 12.07.2020 Original article ›
Ian Hawkey
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In 2008 a young Pep Guardiola at Barcelona, in 2016  a young Zinedine Zidane at Real Madrid, now it is Andrea Pirlo coaching Juventus in 2020. Pirlo in his memoir "I Think Therefore I Play," was clear that the coach's job was not for him. He said then that the coach job was not one he would be enthusiastic about, too much to worry about, and a style of life that was so much like being a player.

The Times looks at a game between Torino and Juventus in the Italian League. Pirlo, a soccer legend in his own right like Zidane, scored some of his best goals before retiring against Torino, and he wins the game 2-1, with Bonucci scoring the final goal.

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Sir Kevan Collins accuses Boris Johnson of failing generation of children

  
The Times - 06.03.2021 Original article ›
Oliver Wright, Policy Editor | Eleni Courea, Political Reporter
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Disagreements on how much to fund an education recovery effort in the Toy government of Mr. Johnson. Sir Kevan Collins resigns after his program designed to help students recover from the loss of study time from coronavirus at a cost of 15 billion pounds is rejected. The government plans to put 1.4 billion pounds, which Sir Collins calls too narrow, and not doing enough, delivering too slowly. Sir Collins had hoped to give 6th Formers and extra 100 hours of schooling and help prepare students for GCSE exams. He would have extended school time by 30 minutes in 2022 and setup a 35 hour week for students.

Netherlands plans to spend 2500 pounds per student, the US 1600 pounds per student, the UK 50 pounds per student. 

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Banks to Companies: No More Deposits, Please

  
WSJ - 06.09.2021 Original article ›
Nina Trentmann, David Benoit
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US banks are awash with cash deposits by companies. During the pandemic companies borrowed- at rates close to zero set by the Federal Reserve at the height of the pandemic- in case they needed the money, and deposited cash at the banks. Verizon increased its cash holdings by 45% to 10.2 billion in the 1st quarter of 2021. Now banks in the US are turning down cash deposits by companies which have to carry it on their books earning no interest. Banks cannot lend out the cash deposits as there is not enough demand for loans.

Between late March and May 26 US bank deposits surged to $17.09 trillion, increasing by another $411 billion in April and May, according to the US central bank.

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Maps show where Merkel’s party lost ground: everywhere.

  
NYTimes.com - 09.28.2021 Original article ›
LyrArc Article Gist
A look at how Germany voted on a map of Germany gives a better idea of what really happened in the 2021 election. The narrow margin of about 2% of Social Democrats over Christian Democrats looks different from the map. The CDU black color region is mostly all of southern Germany, the region includes Bavaria with its capital Munich. And parts of West Germany around Cologne.

In Cologne and Berlin the Greens dominated.

The rest of Germany is all Social Democrats red. Only in parts of the  east in Saxony and Thuringia one finds AfD far right.

Geographically SPD red is all over Germany except for the southern region of Bavaria. A seat Merkel held for 30 years went to the Social Democrats SPD party,

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Opinion | Japan Ends the Negative Rate Mistake

  
WSJ - 03.19.2024 Original article ›
The Editorial Board
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Bank of Japan negative interest policies for two decades was a kind of experiment and a failed one, says this report in WSJ. It caused a form of financial repression where households were made to subsidize companies. Households lost net interest income in the period 2000-2020 in the amount of trillions of yen, says Deputy Governor Himino of BOJ, as interest on household savings was so low or negligible. A similar situation hurt savers and retired people in the US. With inflation at 2% Japan is ending its period of negative interest rates, a welcome change that will benefit tens of millions of people with household savings giving a return, including the 45 million retired people one third of the population who depend on savings income.

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Live Updates: Search Continues for 6 Missing in Baltimore Bridge Collapse

  
NYTimes.com - 03.26.2024 Original article ›
Michael D. Shear, Luke Broadwater, Jenny Gross, Patricia Mazzei
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A cargo ship hits Francis Scott Key Bridge which crosses outer Baltimore harbour and the bridge collapses on March 27, 2024. Pictures capture the bridge actually collapsing right in front of our eyes, a reminder of the infrastructure building that was neglected for so long during a period of foreign wars in remote mountains and deserts of the Middle East, and a period of tech and other monopolies where corporations paid less in taxes than teachers, nurses and childcare workers, both depriving the government of needed revenues for nation building infrastructure, and needed investments in manufacturing, health, education, reversing climate change. A period of neglect and lost decades which president Biden and a bipartisan group of Congressman are only now reversing with no time to lose.

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The Guardian view on the Tory leadership race: putting party before country | Editorial

  
The Guardian - 09.02.2022 Original article ›
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This editorial in The Guardian points out that only a tiny fraction of the British people, merely 160,000 members of the Tory Conservative party are for the last 2 months in July and August 2022 determining what kind of government Britain should have at a time of cost of living crisis. Most of these 160,000 are male, upper class, older and propertied. No government action is taking place to protect people from cost increases. In France the energy price increase is limited to 4% by the government, Spain is doing the same to limit cost increases. And in Britain Ofgem regulator has allowed the price cap for energy to triple relative to a year ago and no minister there available to answer the public's questions, kind of surreal.

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Joblessness below pre-COVID levels: Finance Ministry

  
The Hindu - 09.17.2022 Original article ›
Special Correspondent
LyrArc Article Gist
Unemployment rate in urban areas of India decrease for the fourth consecutive quarter to 7.6% in the April to June quarter of 2022. It is now lower than the pre-pandemic level.  Employment growth continued in July and August, as shown in the Global Purchasing Managers Indices for the Manufacturing and Services sectors. The Finance Ministry say what is at work are the reflection of "increasing effectiveness of income support and targeted subsidies provided by the government, creation of jobs from elevated levels of public sector capital expenditures, and general rise in employment levels."  Added to this are the foreign direct investment flows being the fifth largest among a "defined set of developed and developing economies," and the increase in exports.

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Rise in net migration threatens to undermine Rishi Sunak’s tough talk

  
The Guardian - 11.23.2023 Original article ›
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A threefold increase in immigration to meet staff and labour shortages makes using immigration as an issue in the next election risky for Rishi Sunak and the Conservatives in Britain. In a strange twist it is the Conservatives under Boris Johnson who campaigned on immigration  to take Britain out of the EU now having a record on immigration of this kind. In 2019 Sunak battlecry " get Brexit done" was for lower immigration from a level of 245,000 that year. In 2022 it was a net migration of 720,000 for Britain. Most of this has come from student, work and family visa routes, and legal asylum channels from Ukraine Hong Kong and Afghanistan. Now economists believe it is a result of shortages of labour and staff, and high domestic wages.

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Germany needs jabs, not omicron's 'dirty vaccination' — health minister | DW | 08.01.2022

  
DW.COM - 01.08.2022 Original article ›
Kieran Burke
LyrArc Article Gist
German Heath Minister Karl Lauterbach says vaccine mandates are the only way out of this pandemic. Speaking to German daily Welt he said, gaining immunity through infection was a "dirty vaccination" that made little sense as it would not protect one against a more harmful variant. He saiid that it "would be naive to think that omicron is the end of the pandemic." Omicron would not make one immune to the next viral variant. "No one can guarantee that a variant will not develop soon that is much more dangerous."

Lauterbach says 25 million doses of the Moderna vaccine have been procured that would be enough for 50 million booster shots to be done in the first quarter of 2022.

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Why Biden’s Border Policies Aren’t Working

  
WSJ - 09.15.2023 Original article ›
Michelle Hackman, Tarini Parti
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Failing states pose immigration issues in the US at the border with Mexico. With a collapsing economy there are 7.1 million refugees from Venezuela. Many have settled in Latin America. Others hundreds of thousands want to cross illegally into the US. As the US has no diplomatic relations with the US making harder to deport them. When Ukraine war started Ukrainians were kept from crossing from Mexico by setting up a legal path for them to come. 78000 Cubans, Haitians and Nicaraguans were crossing in December 2022, this dropped to hundreds by July by setting up a legal path for these people to get a work permit for 2 years legally. Venezuela will require a similar innovative solution at the border.

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Opinion | The Republican Governor of Utah Wants to Spare Kids From Their Phones

  
NYTimes.com - 07.11.2023 Original article ›
Jane Coaston
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Efforts in Utah by Governor Cox to limit the damage to children's mental health from overuse and addiction to social media outlets including Facebook, Instagram, and TikTok. Utah governor Cox says in answer to the question why now, the better question is why didn't we do this 5 years ago. "If this was child cancer or car accidents we would be losing our minds about this," he says. New laws in Utah would put time restrictions and give parents access to messages and posts. Utah and other states will file lawsuits to make tech companies accountable. The CDC found 3 in 5 American adolescent girls had mental health issues in 2021, this has increased every year since 2011.

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California Joins Growing National Effort to Ban Smartphone Use in Schools

  
NYTimes.com - 06.18.2024 Original article ›
Shawn Hubler
LyrArc Article Gist
Los Angeles Unified School District has voted for a ban on smartphone use in schools starting in January. Governor Newsom is proposing to have a state wide ban in California to support children and parents in school education. Florida and Indiana are Republican led states with state bans on smartphone in schools. New York Governor Kathy Hochul seeks one in 2025. California Governor Newsom says: "When children and teens are in schools they should be focused on studies, not on screens." He has four children in schools. Dr. Murthy says in NYT that children spending more than 3 hours a day on social media were feeling the double the effects of depression and anxiety symptoms. And the actual use is 4.8 hours per day for this age group.

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How a Heat Dome Creates Dangerous, Record-Breaking Temperatures

  
WSJ - 06.19.2024 Original article ›
Eric Niiler
LyrArc Article Gist
Heat domes such as this one are rarely seen in the northeastern US. This week mid June 2024 is seeing a heat dome develop over areas from Albany, New York to Pittsburgh and Chicago. A heat dome is an area of compressed air like a lid on a pot that stays that way over a vast area with the sun heating the air at the surface till air flows in from another part of the US. Thus seen in the summer in the south and southeast rarely in the north and northeastern US and is one more sign of the cha nges in weather patterns coming from climate change. Itself a result of business and industry operating over decades on fossil fuels coal and oil without any oversight over consequences.

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Fentanyl fatality rate higher in Canada than US, public safety official says: 'We are connected by this crisis'

  
Le Monde.fr - 02.06.2025 Original article ›
LyrArc Article Gist
One can only take note now how far in a matter of weeks the Canadian government's attitudes have changed. Fentanyl deaths per day 205 US 21 Canada comparable for population in 2025 says Le Monde. US population 325 million, Canada's population is a tenth of that, both have fentanyl deaths that are at the same level.

Canada's Public Safety Minister Dsavid McGuinty says- "On per capita population, we're losing more Canadians than Americans are losing Americans. We are connected with this crisis."

Trudeau said "we agree wholeheartedly with our American neighbors that fentanyl must be wiped from the face of the earth."

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