LyrArc Article Gist
Regional banks lose more than a third of hteir stock values in Ohio, the southeast and western states. In some cases banks have lost half their value. These banks will neede another $65 billion on top of the $120 billion they have raised so far according to a Goldman Sachs report. The declinig market for commercial real estate will also hit these banks.

LyrArc Article Gist
Delivering the mail by boat across Penobscot Bay, Maine in the northeast U.S. The mail has been delivered to six small and rugged islands here in Maine's coastal area by the same family since 1905. This could be the last year as Maine has a 14 day quarantine for visitors from outside. Maine has the largest median age in the country at 45. Known for its coastline it gets millions of visitors in the spring and summer months adding $6.5 billion to its economy. Depending on this tourism are thousands of small businesses. Coronavirus is changing the rhythm of life even here in a place which has known quieter rhythms.

LyrArc Article Gist
With Chinese overproduction of  electric vehicles and solar energy panels China needs the EU and US market for its economy. Now that it is more dependent on manufacturing for jobs and the economy, as its construction industry is in decline. The Biden administration by not adding new tariffs yet investing in production at home provides China and the US with a win-win relationship, that China seeks to maintain. This overrides regional tensions for the vital interests of the US and China to compete on a level playing field.

LyrArc Article Gist
As a daughter of immigrants from Madras, India and Jamaica in the West Indies, and raised as the eldest daughter of a single parent her mother Shyamala Harris in Berkeley area near San Francisco, she was constantly around activists, and fighters for civil rights. This has shaped her during the period as prosecutor in Oakland, California, and in the political struggles to emerge as Attorney General and then Senator from California.  She chose to study at Howard University, a leading school for Black students and UC San Francisco School of Law. Much of her career is seen as struggling against racism as a black woman with Asian background trying to come out into a leadership position. As a result not much can be said about what she stands for in a political platform, according to this report and from her experience running as a presidential candidate against Biden and Bernie Sanders. By contrast Biden and Sanders being in the Senate for decades are better defined in terms of policies and positions.  ...

LyrArc Article Gist
Indian prime minister Modi talks to chief ministers of all the Indian states by videoconference as he prepares for gradual reopening of the economy. A key concern- that the coronavirus should not spread to rural areas. Chief ministers were asked for their ideas on reopening. Indian railways sets up train services to take 45 million migrant workers to their home regions.

LyrArc Article Gist
Research shows that some countries will benefit more than others through climate change action for net zero emissions by 2050. India, Argentina, Britain and European Union, Japan and South Korea will be able to reduce imports of fossil fuels and invest in infrastructure, renewable energy, and create jobs in new sectors. Countries that depend on fossil fuel exports Australia, Russia, Saudi Arabia and Gulf states, will see much of their coal, oil and natural gas assets, left in the ground. The US and Canadian shale oil producers will also be affected, along with Chinese producers but with a broadly diversified economy the US and China will continue to grow. This paper with lead author from University of Exeter, in Nature, shows $11 trillion in stranded fossil fuel assets left in the ground by 2036 for major oil producing countries under the most probable scenario.  This means the transition will have to be carefully handled as some states such as Texas, Alberta will be hit hard in North America. The paper also shows that countries that are major oil and gas exporters such as Russia and Saudi Arabia will not be pioneers or push aggressively for climate change in the way the European Union, Britain, and India are doing at COP26 because of this problem of stranded fossil fuel assets left in the ground. China and the US have strong renewable energy sectors and will join the EU, Britain and India. ...

LyrArc Article Gist
Shares of ICICI down by 66% so far this year. As foreign investors who own two thirds of its shares move out of the market ICICI has been affected seriously. But Standard and Poors continues to give good ratings to the bank saying it has no solvency problems. ICICI expanded rapidly with loans to India's middle class and expanded retail bankig and loans throughout the country.

LyrArc Article Gist
P.T. Usha chairs the upper house of the Indian parliament at the request of vice president Dhankar. She tells Sansad TV in an interview that she was nervous and thought to herself how could a sportsperson handle such an assignment. After chairing the session she now says she feels grateful for the experience given to her, one that will now enable her to take up issues of encouraging sports in the country. During the early days she says she use to run along the rail tracks on the sea shore in Kerala as there were no running tracks as there are today. She wants to see India compete effectively in sports at the Olympics as the head of the Indian Olympic Committee.