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The British pound fell 5% against the yen and to a 7 year low against the dollar, and the Lloyds Banking Group led stocks down with a drop of 31%. There is doubt that the government moves this week will work as the huge losses at RBS led to larger support from the government. On Tuesday JP Morgan and other bank stocks fell more than 20% in the US.

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Who knew that Prince William had actually slept on the streets of London in 2009 to understand homelessness and his passion to end homelessness through affordable housing. There is also the passion of the King Charles to do this another way by building aesthetic, friendly housing at lower cost so that it serves the needs of ordinary people. Around this one idea the deputy prime minister Angela Rayner and  William, Charles have found a new relationship. Charles chats freely with Angela, says the Times in this report and the two have developed shared concerns, as it is Rayner who as housing minister that has to come up with the 1.5 million new houses to be built under Labour's and PM Starmer's promise to Britain. It is agood sign for the new Britain that the royal family can come together with someone who has had her own struggles as Angela Rayner has had in her earlier years with an early pregnancy, as the three people come together to fight homelessness in our communities. ...

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Indian PM Modi at G-7 Talks in Kananaskis Alberta, Canada June 15-17, 2025. Canadian Foreign Minister Anita Anand will meet Indian Foreign Minister Jaishankar at the talks with Canadian prime minister Carney. Who is Anita Anand? It is said about her grandfather V.A. Sundaram that he passionately fought the British Empire but had a strong interest in English culture and literature. He sent his children to British Universities while helping build with his mentor Mandan Mohan Malaviya, the Banaras Hindu University, and working with Gandhiji for Indian Independence during the Round Table Conference of 1931 in London. Sundaram's son immigrated to Nova Scotia, and his granddaughter is now the Foreign Minister of Canada after having held posts of head of the Treasury Board, Internal Trade, Defense, Procurement during Covid, and is Member of Parliament from Oakville, Ontario. There are 2 million Canadians of Indian descent in Canada, and some like Geeta Anand have connections to the India's and Gandhiji's struggle for Independence against the British Empire. India today with Britain leads the British Commonwealth of Nations.  ...

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The Conservative Party led government has taken credit for raising the level of income on which workers start paying taxes to 10,000 British pounds. The Liberal Democrats are pushing to raise this to 10,500 British pounds in 2014. This would remove an additional half a million people from the total taxpayers. The Liberal Democrats, a junior partner in the current coalition government, favor a mansion tax on houses valued above 2 million pounds which would generate an additional 2 billion pounds a year. The Conservative Party opposes this tax.

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The name on the bill says it all -The Bipartisan Debt Agreement 2023. As Budget Director Shalanda Young says if you look at it as Democratic or Republican, you have lost already. It is truly bipartisan with the support of the Minority Leader of the Senate, Republican Mitch McConnell, and the Speaker, House Majority leader Kevin McCarthy. Strange as it may sound it sets the stage for other wins as the President in the end stakes his legislative achievements, a strong economy, and a renewing America in the world, for a national bipartisan win for the presidency against his challenger Mr. Trump's purportedly national yet deeply personal agenda. It shows traces of the fights in the past of TR, of FDR, of Lincoln, and Washington, alternately Republican and Democratic but truly American in imagination and foresight.

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Hundreds of thousands of American children are missing after the pandemic. Many are not accounted even when increase in home schooling and private schooling is considered. The Associated Press, Stanford University Big Local News Project and Prof. Dee of Stanford show in their study that 240,000 students in 21 states absence from school could not be explained. In 2023 missing students have become more of a budgeting problem to secure federal and state funds. The actual number of missing students is much higher as this study found that public school enrollment inthe US has fallen in the 2 school years 2019-2020, 2021-2022 by 710,000. Much remains to be done to locate these students so that they are not forgotten. Voice of America ran this story on its Learning English site. The WSJ has an editorial on these missing children today.

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Mr. Macron told television viewers of a national debate with Le Pen that "she wants to take France out of the European Union, she just doesn't say it." The debate showed the clear differences between Macron and Le Pen on the European Union, on Russia and the invasion of Ukraine, on Le Pen's ties with Russia that Macron noted  during the debate. Le Pen brought up the raising of the pension age to 65 which Macron says would be done very gradually over 10 years, and Macron responded by saying this was to be able to increase pension payments and increase investments in the economy.

A snap poll by polling firm Elabe showed that for viewers of the debate the candidate they found most convincing was Macron at 59% and Le Pen at 39%.

 

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Years of Tory cuts and austerity spending left the UK unprepared for the pandemic, says this editorial in The Guardian. The running down of the public sector was a policy choice says The Guardian. In the decade before Covid the Tories cut public spending as a proportion of the GDP from 46% to 39% leaving Britain exposed during the pandemic. Jeremy Hunt continues in a long line of Tory chancellors who are impervious to comprehension of the fall in incomes of ordinary households, the working nurses and teachers who turn to food banks. Hunt even talks about another 100 billion pounds of cuts over the next 2 years. And  turning Britain into a Silicon Valley, when Silicon and Tech is failing in the US, and when the US Justice Department is seeking the breakup of Big Tech with support from Republican Bill Barr. 

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The deteriorating business environment in China is shown in this report in the WSJ. An April 2022 survey by the EUropean Chamber of Commerce in China found 23% of companies were considering shifting current or planned investments in China to other parts of the world. This WSJ report says even before the latest covid lockdowns over one third of American companies told the American Chamber of Commerce they would reduce investment in the country due to the policy environment there. WSJ says there are serious question about the future growth of the Chinese domestic market and the stability of the overall policy environment for business. The distinct advantages of India and South East Asia are now becoming clear including growing youthful labor forces, and governments that as in India are part of the Free World democracies allied with America and the European Union says WSJ.

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Britain heads into a general election July 4 with a deeply dissatisfied electorate. Labour is expected to get a majority after 15 years of failed rule by the conservative party with austerity policies, failure to invest in Britain and failure to improve the lives of working people. Astonishing as it may sound 58% of the British public now want to see Britain rejoin the European Union. Much of the support in blue collar working class communities in England for the Conservatives has faded and these voters have returned to support Labor. There is also a change in the mood in Scotland favoring Labor over Scottish Nationalist party. Unlike the US Britain under Tories has failed to invest in Britain's future in renewable energy, in climate change action and in infrastructure. Standard of living and support for the health system is declining.

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Why are New York City hotel rooms costing $300 a night? This NYT report says there is a shortage of tourist lodging pushing prices up when 20% of hotel rooms go to asylum seekers and migrants. During 2022 hotels found the program of the city of New York at $185 a night to convert hotels to shelters for asylum seekers as away to remain in business during the pandemic. Since then 130 of 680 hotels in New York City have entered the shelter program. This presented a loss of 16,000 rooms leaving 121,000 rooms inventory for tourists, a shortage of about 3000 rooms as demand picked up after the pandemic.65,000 migrants are housed in hotels, tents and dormitories in New York City, as the city is obligated to find housing for people who need it, costing $10 billion over 3 years.

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British Airways and Iberia Airlines made the winning bid for British Midland International (BMI) from Lufthansa for 172.5 million pounds. The acquisition is only for BMI's mainland carrier which serves Europe, the Middle East and Africa. This gives British Airways 56 additional daily takeoff and landing slots at Heathrow airport where it has 45% of commercial airtraffic. Lufthansa paid 223 million pounds for BMI in 1999 and when it purchased the remaining 50% of founder Michael Bishop's share in the airline in 2008.

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Vodafone is well positioned to cope with the eurozone crisis. Operations in Greece and Spain are only 6% of total enterprise value, according to JP Morgan estimates. Vodafone expects free cash flows of 5.3-5.8 billion pounds in 2012 compared to 6.1 billion pounds in the prior year. Vodafone continues to show growth in Turkey and India. And the 45% stake it has in Verizon Wireless in the U.S. also contributes to earnings, as growth in Verizon Wireless revenues was 7.3% in 2011.

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New York dairy farmers have smaller herds and smaller farms compared to Idaho dairy farmers and cannot keep up with the growing demand for milk at Chobani's Greek yogurt plant in New Berlin, N.Y.. Chobani's sales of Greek yogurt will reach $1 billion in 2012. Instead of expanding the New Berlin plant, CEO and founder Mr. Ulukaya plans to build a new plant in Idaho. Idaho's milk production reached 13.3 billion pounds in 2011, exceeding New York's production of 12.8 billion pounds.

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The presidential debate in France for candidates Sarkozy and Hollande between the first round and the runoff elections.

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British prime minister Theresa May makes a bid for working class votes in the 2017 election, just as the Labor party under Jeremy Corbyn announces its own manifesto seeking working class votes. May has proposed increasing the minimum wage to 60% of median earnings by 2020, and increased funding for the National Health Service by 8 billion pounds over 5 years. Corporate taxes will be reduced from 19 to 17% compared to Labor Party raising it to 26% under Corbyn's manifesto. Some of the Labor Party's supporters in the north of Britain are leaving the party because of dissatisfaction with Labor's leadership.

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WSJ says that administration officials are considering aplan whereby on the first day of bankruptcy the government would announce the setting up of a "new GM" with Chevrolet, Cadillac, and good assets as part of it and a separate "old GM" that would hold the bad assets, retiree and health care obligations, Hummer and Saturn. The "good" GM would have responsibility for $20 billion in government loans. THe old GM could stay in bankruptcy for longer till buyers are found for parts of it or as it is wound down, with proceeds from the sales of assets going to creditors claims. WSJ sources familiar with the developments and the administration's views say that the administration prefers this route, and GM will likely will be forced into filing for bankruptcy protection in mid-May. That would be 45 days into the 60 day period President Obama has given GM to come up with a new plan that will work. The submitted plan was rejected by Obama's team on grounds that the assumptions for sales were too optimistic, none of the concessions from bondholders and the UAW that were needed had been made, the Chevy Volt was not going to pe price competitive, and fuel efficient car production was not a critical part of the plan. The government has asked Fiat to scale back its planned ownership of Chrysler to 20%, as part of an agreement for more government loans....

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It all ends as expected. Another chapter in the Brexit saga ends with the mutiny in the Conservative Partyl, the resignation of Ms. Leadsom, the party's leader in the House of Commons. WIth most Conservative Party members abandoning the approach of Theresa May of putting unpopular Brexit deals to votes in parliament, the latest planned for June 7. Conservative Party members have already shown their support for Mr. Boris Johnson, who leads by a wide margin in a leadership contest. Johnson supports a no-deal Brexit and once said that would only mean a shortage of Mars chocolate bars. This faction in the Conservative Party including Jacob Rees-Moog believes that Brexit without a deal with the European Union will work. It opposes a customs union arrangement following Brexit. The only problem is that earlier votes have not shown a majority of members of parliament support no-deal Brexit because of fears about the British economy. The fall in the British pound exchange rate shows this is expected. This could mean fresh elections, yet both Conservatives and Labour Party face voter skepticism about their handling of Brexit and loss of support to Liberals in the case of labour and to the Brexit Party in the case of the Conservatives, leaving more uncertainty. Conservatives polled about 11% in advance of European Union elections in Britain, unheard of in modern British politics. ...

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Britain's Home secretary, Yvette Cooper, is setting up a Young Future's unit to help teenagers exposed to social media, mental health issues, and other pressures who could get into trouble with the law. This was seen during the UK riots with persons ages 12-15 in court for throwing stones or rioting. Cooper says- “It’s always been tricky to go through the teenage years, but it feels like for generation Alpha it’s got much, much harder,”  “You’ve got the pressures from social media, county lines and child criminal exploitation, the rise in the antisocial behaviour that we’ve seen, and … pressures on child and adolescent mental health. So we’re responding to that.” Cooper,  announced her goal for a £100m “young futures” policy at last year’s Labour conference.   The home secretary will tell councils and police forces you have till Christmas to put proposals into effect to tackle crime among young people. New Home Office guidelines will be put out by the end of the year setting out how networks of police, mental health professionals, local schools, youth offending teams and charities can work together to help get teenagers avoid crime. ...

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This WSJ editorial looks at the dangers of legalization by American states of marijuana use and the cultural acceptance in the light of evidence about vaping illness. It is not just e-cigartettes but vaping from marijuana use that poses risks for the health of a whole generation. One argument for legalization used by politicians is that it would shrink the black market- the WSJ says there is little evidence of this. Only 16% of the 15.5 million pounds of marijuana grown in California is used in the state, according to the California Department of Food and Agriculture. With cultural acceptance says the WSJ comes another major health crisis after the opioid crisis in the U.S.

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Here are tips on setting  up covid vaccine appointments. Using your phone is important to look up vaccine offering places and governmental health organizations, signing up successfully with personal information, and being very quick to respond when a response is received offering the vaccine. Getting the first spot available is key to getting the process of vaccination started. The vaccine slots get filled very quickly making it critical to act fast. Once one has found the right website and registered one's information the process works for India and the US. Appointments can be setup for older relatives in India or in the US after one has entered one's information for address and phone number, email.

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Kashmiri shawl weavers were mostly women. Mechanization has pushed many from earning their livelihoods from the shawl industry. New ways are being found to revive the older shawl weaving methods and give Kashmiri women an opportunity to work and be financially independent. A lot can be learned from the French who have a thriving industry using hand weaving with new technology and marketing techniques for hand woven fabrics using new designs. Some of these French companies could actually collaborate with Kashmiri makers to relaunch this industry in a new way and employ many women in making shawls and other specialty fabric designs. This manufacture would also command higher prices in a niche market segment in India and in world markets.

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Sandra Boynton is unique in children's books because of her avoidance of what she calls the "cutesy tedium and arrogant condescension" of children's books and children's music. She is simple but can adapt difficult words or ideas to sound simple. She has also avoided television because she says TV outlets merely want the rights and a children's product that makes it to a hit that will then turn up on hit toys, you know the commercial kind, and backpacks, then lunchboxes!

She lives in the foothills of the Berkshires mountains with the farm to table food, outdoor activities and fall foliage, and is married to Jamie McEwan, Olympic medal winning canoeist.

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British households have accumulated 100 billion pounds in December 2020 savings, says the Bank of England. This should increase spending and accelerate the economic recovery from coronavirus lockdowns, says the Bank of England.

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The British governmet announced its own bailout plan. It offered to recapitalize its banks with an injection of capital i exchange for preference shares. It offered banks like the RBS, Barclays, HSBC upto 50 billion pounds to shore up their capital. It also provided guarantee of 250 billon pounds to help banks refinance debt and the Bank of England will double the amount it lends to banks under the special liquidity scheme to 200 billion pounds. The aim is to restore trust in British banks and allow banks to lend to each other and lend to consumers and companies which is becoming difficult or is even frozen and the financial arteries getting clogged as banks are afraid to lend to each other similiar to what is going on in the USA. In Spain the government announced it was creating its own 30 billion euro fund to buy assets from the nation's banks.