LyrArc Article Gist
India plans to incease its nuclear capacity to produce electricity by 5 fold in the next 10 years and build 30 nuclear reactors at the cost of $100 billion. The French company Areva is likely to get some contracts and two Russian companies are building a nuclear reactor and should also get some contracts. The state owned French and Russian companies are protected from civil liability while GE Energy and Westinghouse would have to take care of the liability issues as India has not joined the treaty which created a global fund to to compensate victims of nuclear disasters.

LyrArc Article Gist
What has happened that makes it so hard for Democrats Biden who stood on a picket line for the UAW autoworkers union, Harris fighting for workers, that they cannot easily convince workers that they are on their side? It is because compared to 1980 not the lowest income groups but the "downwardly mobile" white and other groups without college degrees have taken the brunt of the loss of manufacturing jobs. It is why the "zero-sum" stories of the former president have appeal to some workers who have lost the most from deindustrialization of the US. Even though Biden, and Harris, have fought hard and are putting in place the policies for the fight to reindustrialize America by taking old plants and modernizing them one by one across the country. No one has ever done this before including years in which the former president was in office. In these visual graphs it is easy to see the sharp decline in incomes and status in society of workers without college degrees as the economy changed after 1980 sending steel, auto and other industries to Asia. By 2024 these workers lives had been upended by the loss of these industries and the hope for income and place in society that existed in 1980. Every US president from Reagan through Bush, Clinton, Bush, Obama, Trump had failed to address this. Biden was the first president to take this up but too much has happened with to reverse this in 4 years, the pandemic, inflation from loss of supply chains to Asia, and wages not keeping up with cost of living.  NYT's Badger, Gebeloff and Bhatia show analysis of the economy, incomes and jobs in 1980 vs the economy, incomes and jobs in 2024 for persons with a college degree and without a college degree.It shows the sharp differences in the eastern Midwestern states of Michigan, Wisconsin, Indiana, Ohio and Pennsylvania over 4 decades of job losses, loss of income status and self worth for men without college degrees. With their jobs in manufacturing disappearing also disappearing was the middle class lifestyle- of owning a house, having a cottage or boat in the countryside, and sending kids to college. ...

LyrArc Article Gist
A food scare for Danone's Dumex baby formula brand in China hurt sales. Danone has decided to swap the Dumex brand for additional stake in China's dairy company Mengniu, for a 12% stake in the company. Danone will focus on ecommerce business in China which has grown rapidly to about 461 million consumers as more baby food products are sold online. About 7% of total sales are from China for Danone. Danone has also decided it will keep the medical nutrition business line because of better future prospects. Earlier Danone sold off its majority stake in a joint venture with Wahaha in China. Business decisions at Danone are made by two executives Mr. Ribaud and Mr. Faber, the CEO. Fresh dairy unit of Danone faces several challenges, including rising price of milk, and margins dropping from 15% in 2010 to 10% in 2014. Fresh Dairy generates over 50% of revenues.

LyrArc Article Gist
Stay at home lockdowns, closure of schools in South Africa and other African countries is harder because of lack of widespread internet, says this report in DW.com from South Africa. South Africa declared a 21 day lockdown on March 27. South Africa does better than the rest of Africa with 53% of the people able to use the internet. The internet access in other African countries is only for about one third of the people. This is actually lower than that in practice. Only 12% of Kenyans have internet in their homes, mostly in Nairobi and large cities, and 70% with internet access have this through their phones.

This provides opportunity to ensure wider use of radio as most homes have radio. There are new ways for teachers to interact with students. Teachers in Kenya hold a lesson on radio and students send in their questions on WhatsApp.

LyrArc Article Gist
US aid to Ukraine shifts to the long term. Republicans ask the president and Democrats to leave Ukraine aid on a stand alone basis and not mixed with other health or budget requests where there are differences. Republicans want to move quickly on aid to Ukraine as the invasion on the east of Ukraine builds up. In comments earlier this week Mr. Biden told a national audience in a televised speech that he wants to make Ukraine aid to be ongoing as this could be a long effort to resist the Russian invasion. Ramstein now has a new symbolism - US Joint Chiefs head Gen. Mark Milley was clear about it- "The outcome of this battle, right here today, depends on the people in this room." The battle is one in eastern Ukraine. Defense Secretary Austin was clear about also clear- "the war had galvanized the world." About 40 countries were represented at Ramstein base, some virtually. There was a sense that the previous symbolism with Anglela Merkel and Mr. Steinmeier and Mr. Schroeder may have emboldened Russia into invasion of Ukraine. ...

LyrArc Article Gist
India protests actions by Canada's Trudeau for his support of separatists in Canada. India is a nation of many communities and languages and it does not approve of efforts to separate parts of the country in the way the US has done from the period of the Civi War and Lincoln, and as seen today in Spain, or in the efforts to reintegrate East Germany into West Germany after the cold War. Trudeau belongs to Quebec, a French Canadian province that is part of majority English Canada. Canada's very existence as a federation depends on this nonacceptance of separation of Quebec. It was not long ago that General De Gaulle used the language Vive La Quebec on a visit to Canada leading to protest all over the world and Canadian provinces respecting the integrity of Canada. Mr. Trudeau is president of Canada for that very reason that he and his father Pierre before him respect the idea of Canada as an independent sovereign nation, something he fails to do for political advantage to stay in power with a coalition because of diminished support for his Liberals party.  ...

LyrArc Article Gist
This article in DW.com cites experts who point out that the Republican Party always had tensions within it because of the diverging interests of three groups that have allied together to form the party- Wealthy businessmen and corporate interests, evangelicals, and white working class people who have seen their incomes decline for several decades. The interests of each group have some overlap, are sometimes masked but frequently they diverge. Nigel Bowles, former director of the Rothermere Institute at Oxford University, says there is no particular reason that this coalition would hold together, that it was unstable to begin with, a wonder that it did not split up earlier. Scott Lucas, an expert on American Studies at the University of Birmingham, says that Reagan showed great skill in holding this coalition together, and Donald Trump has taken it apart by mobilizing only one constituency of white working class voters and leaving out others. The break between Republican party leaders Ryan, McCain, and state party leaders, with Trump is unprecedented in post war American politics, and putting it back together now looks like a lost cause in the medium term.  ...

LyrArc Article Gist
The US tariff on China made EV"s imported into the US is 100%. The EU has a 10% tariff. It has now imposed additional tariffs that range from 17% to 38% depending on its investigation with Chinese companies on how much support they get from the Chinese government as hidden subsidies. This move is to level the playing field. The result is that BYD faces a 17% tariff because it has operated relatively on its own. For Geely and SAIC it goes up to 38%. The tariff on European companies making EV's in China and exporting them is additional 21%. US carmakers (GM and Ford) have only a small presence in the Chinese car market compared to the Europeans who  make and sell 3 million luxury cars in the Chinese market (BMW, Audi, Mercedes Benz). About 25% of EV's sold in Europe are now China made EV's. The EU wants to level the playing field so that local makers maintain a strong presence in their home markets. The US with no significant car manufacturing presence in China of Ford, GM to protect is taking stronger action. ...

LyrArc Article Gist
The lack of U.S. leadership and slow response by the Obama administration to the rapidly developing situation in the region risks spillover effects from Syria to affect the entire Middle East. Russia's stakes are minimal in the region because it is simply trying to retain some of its old influence in the region, yet it is having an outsized influence in the region through its early military assistance to the Assad regime. The stakes are much higher for the U.S. because of the decade spent and resources invested in Iraq, higher for Iraq with its need for civil harmony between Shiite and Sunni communities, for Turkey with its large Kurdish minority and flow of refugees from the border with Syria, for Saudi Arabia as a defender of Sunni interests. Without active U.S. leadership the situation is allowed to drift and young people of the Free Syrian Army are basically taking on the bulk of the role of resolving the situation. France's Sarkozy and Britain's Cameron offered this kind of leadership in Libya as Libya's young people struggled to resolve the situation there. ...

LyrArc Article Gist
The Nissan NV 200 designed from scratch as the next taxicab for the 13,000 cabs in New York City. Nissan won the Taxi for Tomorrow contest, and a 1 year contract worth $1 billion. New York's Taxi and Limousine Commission will require all medallion owners to buy the Nissan NV 200 as they replace the old cabs. It costs $29,000 and will be phased in over a 3-5 year period. The Nissan NV 200 was designed from scratch for New York City. It has a French designer working out of a studio in California. The design team went through each detail in great detail. The designer Mr. Farion took a month hailing cabs throughout the day just to get a feel for what the cabs today are like and what needs to be improved. This includes horn sound to the inside of the vehicle and the wear and tear that the cabs are subject to on New York roads. New York roads are rough because of potholes and other problems.

LyrArc Article Gist
As the coronavirus surges in India with over 300,000 cases a day on April 26, a clear picture on the vaccination drive in the country is critical. The following is the picture of the vaccination progress from Union Health Ministry in India as shown in The Hindustan Times. India has vaccinated 140 million people with at least one dose says this report in The Hindustan Times.  On Saturday 24th April 2.4 million doses were given for that day at 8 pm. This was done over 99 days. This means about 12% of the population of 1.2 billion has been vaccinated.  This compares with the vaccination in Germany for about 21% of people vaccinated with over 18 million getting the first dose in Germany by around April 25. Both Germany and India have suffered from vaccine shortages, some skepticism about vaccinations. Gradually sentiment is shifting in both countries so that once skeptical Germany now has about 75% of people willing to take vaccine on April 25, 2021. In India about 6 million healthcare workers have 2 doses of vaccine, and about 9 million have 1 dose. About 6 million frontline workers have 2 doses and 12 million frontline workers have 1 dose of vaccine.  There is a shortage of vaccine supplies and a bold decision was made by the Indian government on April 25th 2021, after the surge of cases to a world wide maximum of over 300,000 cases a day. The decision was to give immediate regulatory approval for the three major vaccines in the US to be brought and used in India. And delivery will be speeded up - no customs duties and fast processing of supplies access to speedy logistical supply routes. This is a huge step forward for the vaccination drive as this means Pfizer, Moderna and J&J vaccines can now be used in India. The government is also urging the companies to make in India or export to India with prices that provide flexibility in pricing for the private market. The locally produced Covishield Astra Zeneca based vaccine produced by Serum Institute will be allowed to be sold to the private market at 600 rupees or close to about $10. Pfizer and Moderna, J&J can price in a way that would be somewhere around this price range. The access to more vaccines and the ability of the companies to make a reasonable profit in the Indian private market means that vaccine supplies should open up in May and June.  This could give a huge boost to vaccination numbers so that India's vaccination percentage of population vaccinated should keep up with that in countries like Germany and France that were slower to get started in Europe but are now catching up quickly. This is a massive achievement because the population numbers are huge compared to Europe. ...

LyrArc Article Gist
Days after firing Henderson, and leaving Lutz with an advisory role with no reports, Whitacre who is now the CEO has moved to bring younger managers in important positions. Mark Reuss assumes the role of head of the North American operations. One year ago he was running the Australian operations. He was only recently in charge of engineering at GM. The Board is pushing for these changes. Whitacre says the GM culture and tendency for top managers not to bring in younger managers to run things has stifled talented younger people at the company. Susan Docherty was given additional responsibilities of marketing. Some of these moves were long overdue. The old echelons simply stayed on for too long risking the jobs of tens of thousands of GM workers and taking the company to the brink of disaster.

LyrArc Article Gist
The problems Brazil faces with a sea of liquidity from developed countries with low interest rates going to emerging market countries with higher interest rates. Brazil is taking steps including a recent cut in interest rates to stem the flow. But interest rates at 12% are still too high not to attract business people in the carrying trade who borrow at low rates in the U.S. and Europe and invest the money in Brazil. The foreign direct investment has also increased. The result is an artificially overvalued currency- by as much as 36% since Jan 1, 2009 according to analysts- which hurts exporters and job creation in Brazil, as it becomes cheaper to import products than manufacture at home. Workers from VW recently protested in Sao Paulo as imports of cars are up significantly and there is a fear of job reduction at VW plants in Brazil. Brazil's automakers association estimate is for car imports to make up 25% of all cars sold in Brazil in 2011. This compares with 5% of cars sold being imported in 2005. It also shows up in production statistics. Brazilian industrial production declined by 1.6% in June 2011 from May. The cost of inputs are increasing rapidly for labor, raw materials, transportation, making Brazil a costly place to do business. The cost of living is now higher in Sao Paulo than in New York city. Cynthia Benedetto, the CFO of Embraer, a large Brazilian aircraft maker, says she always thought since she was a little girl that Brazil was the place of the future. But its deceptive now that the future is here, because this euphoria of progress could be shortlived. Embraer is investing in technology to reduce labor costs and is opening factories overseas. Bombardier, one of Embraer's competitors from Canada recently announced plans to build a manufacturing plant in Mexico. Brazilian president Rousseff is aware of this, and told Latin American leaders in Lima, Peru: "we have to defend ourselves against this immense, fantastic, extraordinary sea of liquidity that finds its way to our economies in search of returns that it can't find in its own." At the same time Rousseff has election promises to fulfill that require larger spending and for which the capital inflows are convenient but could prove erratic- for social welfare projects, and for infrastructure spending in advance of the Olympics. Turkey is seeing a similiar situation with booming consumer credit sustained by capital inflows even as its manufacturing competitiveness has remained weak. ...

LyrArc Article Gist
The contrast between modernizing, developing East and South Asia ( from Mumbai to Shanghai) with war torn desolate West Asia (from Tehran and Baghdad to Kabul and Islamabad) is so striking today that it is something to reflect upon for wisdom and understanding. UAE support for Sudan's RSF Rapid Strike Force and Saudi support for the military - fracturing of Sudan, errors piled on errors led to the civil war in Sudan. A civil war in a country neighboring Saudi Arabia just across the Red Sea. Saudis and UAE were on opposite sides briefly after UAE pulled out of Sudan, UAE acting in this way to object against Saudis requesting US sanctions on UAE.  Once close partners have moved apart as they spread their influence in different conflicts in the Middle East.  This has not created a region that can grow economically without the disruptions of conflict in the way other parts of Asia have emerged to modernize the countries as in Taiwan, Korea, China and India. In neighboring Pakistan another conflict has emerged as partners split, with looming conflict between Afghanistan and Pakistan. Yemeni Houthis are in conflict with the US and affect the Persian Gulf shipping lanes.  Iran with it's pursuit of weapons programs and nuclear weapons is using capital that is badly needed to improve the economic situation on arms buildup for the regime and for allies in Lebanon and Yemen, leading to protests and crisis. In this way the Middle East has failed to use oil wealth to modernize the entire region. Much of it was wasted in Iraq and now in Iran by policies that led to war and regional conflicts not modernization and technological transformation that has happened in Asia. The US has inadvertently becoming a partner to this as when the Obama administration helped fund Iran's economic rebuilding which was instead used to fund the military, and before that the Reagan administration support for Iraqi socialist ideology regime. The challenge for China was how to modernize after the Japanese invasion and civil war. In Korea it was how to modernize after the civil war. In India it is how to modernize with a smaller neighboring country Pakistan promoting terrorism and wars now with China's support. In Asia all these challenges were and are being met to steadily and persistently modernize to European standards with a singleminded focus and determination to meet the aspirations of the people with the US business working alongside Taiwanese, Korean, Chinese, and Indian governments and private industry. In West Asia various ideological (Iraq), military (Pakistan), religious Shiite (Iran), religious + modernizing (Saudi +UAE) with erratic leaders and little representation of the people, has destroyed the tranquillity of the region and destroyed democratic forms of government, destroyed bottom up education and health of the population except for priviliged groups in countries in the region of West Asia. Involvement of US and Europe or Russia in West Asia has led to distintegration of Soviet Union (Boris Yeltsin) and deindustrialization of US and Europe (Reagan, Bush, Clinton, Bush, Obama administrations) with business shipping out manufacturing to China while wars engaged the attention of American and European elites in Iraq, Iran, Pakistan, Afghanistan. The entire west Asian scene for 1950-2030 has been a disaster, one massive disaster for all involved. The contrast with East Asia and South Asia reminds one of the words from Robert Frost of New England in Mowing- that reflects on the enduring value of honest labour. "My long scythe whispered to the ground. What was it it whispered? It was no dream of the gift of idle hours, or easy gold at the hand of fay or elf: anything less would have seemed too weak to the earnest love that laid the swale in rows. The fact is the sweetest dream that labour knows. My long scythe whispered and left the hay to make." ...

LyrArc Article Gist
VW and BMW show strong car sales in Germany, China and the U.S. for the first quarter of 2012, offsetting weaker sales in the rest of Europe.

LyrArc Article Gist
Only the week before Tuesday April 7 Pakistan Foreign Minister Dhar failed to convince China to get involved. April 7th Tuesday in the US 1.30 pm US time, 8 pm Islamabad Pakistan time, China finally decided to jump in to convince Iran to accept peace talks in Islamabad. It is quite possible that behind the scenes the US was talking with China which has a 25 Year Comprehensive Agreement with Iran signed in 2021 that is the main support for the Iranian economy. China acted to reassure Iran that talks in Islamabad would proceed smoothly, and persuade Iran to accept ceasefire and talks. Why? Knowing that brinksmanship by US and Iran would lead to unforeseen consequences and hurt China's economy with oil price volatility as well as  hurt the US economy, and hurt the prospects for the planned May14-15 visit by DJT to Beijing to improve economic and political ties, both China and the US wanted to do everything to prevent this from happening. The result a hastily arranged peace talks in Islamabad so that by 4 am Islamabad time on Wednesday or 6.30 pm US time on Tuesday evening the ceasefire had already been agree to by US and Iran, according to this report in The Guardian from Pakistan. The crux of the matter was that it would affect US and China's economy with oil volatility, and US-China relations by jeopardizing May 14-15 revised date for DJT visit to Beijing. This good sense prevailed over all the war rhetoric and the media information and disinformation. It is confusing because of all the misinformation, but becomes clear when one understands this in the context provided in this report from Pakistan by the Guardian. Why Pakistan? For Pakistan the missile attack the day before of a Saudi petrochemical complex by Iran was drawing Saudis into the war and Pakistan has signed a defense agreement with Saudi Arabia that requires Pakistan to support Saudi Arabia if it gets into a war. For Pakistan it was a fragile situation that would be a catastrophe with unforeseen consequences on its economy. Already schools are closed for 1 month in Pakistan and oil is in short supply, paying for it at $115 or $125 a barrel would put severe strain on Pakistan. Who wins, who loses is being told in the media- much less on the good sense that prevailed  the efforts and the predicament of the large powers China, India, the US, and Germany, European Union, the poorer countries, all hurt economically, caught in a war they do not want, do not need. ...

LyrArc Article Gist
The Saudi government announced sharp cuts in spending and subsidies to cut the deficit in 2016. The deficit in 2015 was about $98 billion or 367 billion riyals , according to Al Arabiya Saudi news channel. In 2016 the budget is designed to cut the deficit to $87 billion or 326 billion riyals. The 2016 budget is for 840 billion riyals, compared to 975 billion riyals in 2015. Saudi Arabia's foreign exchange reserves of $640 billion could be exhausted at this rate by 2020, experts say. Actions being taken by the government include increasing the price of some grades of gasoline sold domestically by 50%, as subsidies are being cut. The drop in oil prices to about $35-$40 is hurting Russia, Saudis and Venezuela. The Saudis have increased defense spending for conflicts in Yemen, and in other areas, as they oppose Iran and Russia in the Iraq- Syria conflict.

LyrArc Article Gist
"Progressive" is a misused word, people are just interested in the words "decent," "fairness," and "Christian" from the color of the heart.  It is just how Republicans see the contest for the US Senate  that reveals their sense of priorities for the Nation.The main concerns of Republicans, old traditional Republicans shown here in this WSJ Editorial are that somehow gains on the US Supreme Court could be reversed with retirement of Alito and Thomas in their seventies, and fears of the same policies that set up Medicare and Social Security- following the changes of the Industrial Revolution and dismal factory conditions and wages at the turn of the century- under Republican Teddy Roosevelt  (the incipient changes), Woodrow Wilson an academic from Princeton, and Franklin Roosevelt. A new version of old Tory politics still exists in the US. It is these industrial conditions rewritten with work safety laws, workmen's compensation, first 54 in 1918 after the Triangle Factory Fire,  then 40 hour week, unemployment insurance, worker union rights for fair negotiations on wages, that made the US a strong manufacturing nation and Industrial power, creating the synergies for worker contributions combining with technologies, managerial skills for a decent standard of living that surpassed all other nations. It is this achievement that was put at risk in the 21st century by shipping factories overseas and thoughtlessly sending the technologies with it, which happened under a series of administrations since the 1980's Reagan, Bush, Clinton, Bush Jr., Obama and Trump. Done thoughtlessly and recklessly. And the wars that started with president Reagan in Iraq/Iran/Afghanistan that diverted the two trillion dollars that would have rebuilt America's aging infrastructure. Biden was the first president to have a clear focus on the changes needed to rebuild infrastructure and manufacturing, technologies and science, and rural America, in a concerted push that has made gains that surpass any that exist in Europe or China. Restoring the US economy to No. 1. Harris in her own way offers the pieces of the puzzle to reverse the pandemic induced cost of living increases that complement the work of president Biden in 2024, continuing the work of rebuilding infrastructure and manufacturing for leadership in the world.     ...

LyrArc Article Gist
This report in the WSJ says Reince Preibus, Republican National Committee chairman, has told party officials on Oct. 8, 2016, to redirect party funds away from nominee Trump to down-ballot candidates. This means the Republican party will try to get Clinton supporters to vote who are likely to vote for candidates like Rubio in Florida and Portman in Ohio. Republican Portman has joined Senator McCain in withdrawing support for Trump. This is the result of a video showing Trump making lewd comments about women in a conversation with Billy Bush of NBC. Speaker of the House of Representatives, Paul Ryan, immediately disinvited Trump from a rally in Wisconsin and withdrew his support leading to a big outflow of support from Congressman and Republican leaders. A former chairman of the Republican party in California describes this as the biggest crisis for Republicans since Watergate. The Republican party now stops its mail program to voters that supported Trump and redirects it to down-ballot candidates. It also comes as the Republican party funds and party infrastructure are a necessary and vital  part of any Republican nominee's effort to get elected. The Republican strategy may now be to try and preserve its control of Congress, as a loss in Wisconsin, Illinois or Missouri, could give the Democrats control of the Senate and other losses reduce its House majority. This appears to be the backup strategy of Paul Ryan as Speaker, and the leading Republican after his overwhelming win in his Senate seat against a Trump supported candidate. ...

LyrArc Article Gist
Online sales of razors are growing rapidly, having doubled to $263 million in the 12 months through May 2015, according to Slice Intelligence. This is about 8% of the market of $3 billion. P&G Gillette division is responding by offering better prices online to compete with competitors such as Dollar Shave Club. Dollar Shave Club has about 2 million customers paying about $1 to $9 every 2 months for blades. Gillette's claim is that its Fusion ProGlide blades cost $5 a month, based on changing cartridges only once a month for 3-4 shaves per week. Gillette dominates retail sales because of its relationships with retailers, its displays inside stores, and its packaging. The online competition changes the way blades are sold, bringing better prices to customers used to paying high prices for baldes sold with "new and improved" labels.

LyrArc Article Gist
Failure of U.S. regulatory agencies to implement an important provision of the Dodd-Frank legislation- instructing regulators to find all references to ratings agencies in their rules, and then replace them with better standards for judging credit risk. Treasury's Office of the Comptroller of the Currency, is one of the agencies trying to gut this reform, says this Wall Steet Journal editorial. The S.E.C. voted unanimously in March and April to propose rules eliminating credit agencies in their regulations on money funds and stock brokerages. As the comment periods have ended, the Journal calls for the rules to be immediately made final. Officials from FDIC and OCC are dragging their feet on this. One problem they face is their assumption that the Dodd-Frank law requires them to come up with the perfect rule for measuring credit risk. This is not what the change is intended to do. It is enough says the Journal to return the responsibility for the right metrics and the hard work of analyzing a security back to where it belongs- to people who manage these assets and institutional managers. Even if they made some mistakes it would be far less than the systemic risk posed by having all major institutions making the same mistake at the same time and the entire system following flawed ratings by the big three credit ratings agencies. This happened in the 2008 mortgage securities financial crisis. S&P has stated that it does not support the old system. And new alternatives are appearing for ratings- CreditSights, Rapid Ratings, Kroll Bond Ratings which got S.E.C.' support, and other alternatives still to come....

LyrArc Article Gist
India lags way behind China in electric vehicles. About 1.35 million electric automobiles on Chinese streets compared to about 6000 on Indian streets. Where India is ahead is in the electric rickshaws, 3 wheeled vehicles that form an important part of public transportation in India. About 132,000 electric rickshaws are added each year and annual sales of $1.5 billion are expected to increase by 9% by 2021. These electric three wheeler rickshaws are cheaper to operate, cleaner and more profitable to operate, making it attractive for operators of gasoline rickshaws to switch to e-rickshaws. Kinetic Engineering and Mahindra & Mahindra are the largest manufacturers in India.  About 695,000 three wheeler electric vehicles were sold in India for the fiscal year ending in March, with a 24% increase over the prior year. India's Ministry of Finance is planning to invest 40 billion rupees or $600 million over the next 5 years to promote charging infrastructure and e-buses. The government's focus is on promoting electric vehicles for taxis, buses and two or three wheeler vehicles. This is expected to reduce air pollution in Indian cities. ...

LyrArc Article Gist
Large home builders like Lennar, Nationwide and Toll Brothers are gradually recovering from the crisis. THey are building on low cost land for first time buyers. THey are using the losses they incurred to offset income from prior years and this alone has generated $2.55 billion in tax refunds for the large builders. Smaller builders have gone out of business. And builders havve sold the land they own from prior years.