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Hitachi acquires British nuclear venture Horizon from Germany's RWE AG and E.ON AG for $1.12 billion. Hitachi plans to double its nuclear plant business in 10 years as it reduces its consumer product operations. The Horizon program is to build 4 to 6 new nuclear plants in Britain.

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WHy did NHS Test and Trace fail to contact no more than 50% of the persons who tested positive. Why was it not able to followup with the people who needed to be visited in their homes to ensure isolation. Why was NHS associated in the name when the NHS had not been consulted and involved in the design of this service. In fact it ignored lessons from Germany where the contact tracing was entirely from local, started very quickly with the key being local or state employees who were diverted to this task and were skilled and motivated to do it. Why was this critical task simply handed out to outsource it to private companies.  Germany's example was there very early in March-April and it was working. Why reinvent the wheel. Setup quickly and entirely local it required only a desk, a desktop PC, and a national database to which PC was connected, the skilled caller being the key to getting people to talk to and cooperate. About 80% of those testing positive needed to be contacted. NHS Test and Trace was reaching about 50% and many that needed to be visited at home could not be followed up quickly. The shift is only now being made to go local. It worked in Leicester and other places but the learning came the hard way, as with many things during this pandemic. ...

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This photo gallery in The Indian Express shows 32 pictures of how International Yoga Day happened in all parts of India from the capital New Delhi to Alfred School in Rajkot where Mohandas Gandhi went to school. It links past to present across India's huge diversity and many states.

PM Modi put Yoga in this way- "The whole universe starts from our own body and soul. The universe starts from us. And Yoga makes us conscious of everything within us, and builds a sense of awareness." India's development in the next decades to come will be driven by a profound sense of what Yoga is and what it is to be a Yogi.

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UP Chief Minister Adityanath talks about the development work during each of the years of his government during the Budget session of the state assembly. He was reelected in the 2022 election in India's largest state with a population of 250 million. He presented a Rs 6.15 lakh crore Budget for development. This years budget focus was on "Atman Nirbhar Uttar Pradesh" similar to PM Modi's "Atman Nirbhar Bharat." Each of the last 5 years of Budgets had a theme for women, infrastructure, youth, farmers, self-reliance. 

Adityanath said "whether it was ration or housing no beneficiary can say that he did not get the benefits because of caste or religion."

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Pedro Sanchez's efforts to defuse tensions over Catalonia and still form a government in Spain, without alienating Spanish voters following a tight election. Sanchez needs support from 24 of 25 members of parliament from separatist parties of Catalonia to reach the 176 he needs to form a government. Sanchez calls his efforts to reduce tensions between Barcelona and Madrid "dejudicializing" the process instead of "amnesty," and has been able to govern with support of other parties. In the July election his PSOE Socialist Workers Party was 1.4% percentage points behind the centrist Partido Popular. The PP leader Feijoo has failed to form a government and Sanchez will have a chance to form a government in October.

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The WSJ looks at $110 billion in projects which get financial support from the US government under the climate law of the Inflation Reduction Act. Many of the projects are being done by foreign companies. Panasonic is planning a third battery plant in the US and will get $2 billion in tax credits from the US government. Other companies are from South Korea such as LG, and from China. The intent is to build a US supply chain that depends on factories in the US and creates jobs in the US, yet because the US supply chain is so undeveloped with so little attention paid to it in the past, foreign companies will be needed.

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The term "lazy girl job" is a misnomer because it refers to work life balance choices made by women who prefer to do remote work, avoid micro manager bosses, and pay attention to health and exercise, lifestyle choices. Being able to take a walk midday and take a bike ride in the evening at 5.00 pm with work cut off times is a preference for many young people. It follows the trend of quiet quitting where lifestyle choices and health take precedence over existing flawed ways of work that ignore family, health and exercise needs. The pandemic has created a new awareness about what is important in life and a new set of priorities. Young people are following their heart.

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H-P's financial performance for fiscal 1st quarter of 2012 ending Jan 31, shows a decline in sales revenue of 7% and profit decline of 44%. Revenue in the PC division declined 15%, printing business 7% and server business 10%. Harddrive shortages from the flooding in Thailand hurt PC division and server sales.

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GM will offer 2 hybrid versions of the Saturn Vue. It will give 32 mpg on the highway 28 combined, for $2000 extra, on the 4 cylinder hybrid system thats currently offered in 2007, and on the single mode system 35 mpg on the highway, 29 combined, for an undetermined amount extra.

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Michio Suzuki of Hammamatsu, Shizuoka, Japan, comes across as a rare figure in Japan's industrial history as one who spanned the entire period of Japan's rise as industrial power running a major textile and automobile company from 1909 when he founded Suzuki to 1978. Starting with manufacture of textile looms Suzuki saw the potential of motorized transportation in the 1920's. After the war it shifted from wartime production to introduce the first e-bike Power Free in 1952. He was succeeded by his son in law Osamu Suzuki who became another icon in automobiles by running Suzuki from 1978 to 2021 for 43 years. Between the two Michio and Osamu it spans a period 1909-2022 of 113 years, the period of the Industrial Revolution in Europe and Asia. In 1979 Osamu introduced the car for small spaces, the Alto, that is one of the most sold cars. In 1980 Osamu started the partnership of Suzuki with Maruti of India, that brought the Alto to Indian streets changing the industrial landscape of India. Here he is shown with PM Modi in 2022 celebrating 40 years of Maruti partnership with Suzuki. The writer remembers Maruti Suzuki from visits in the 1990's with higher management of the company in India on TQM education project.  ...

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Softbank suffers a loss of $6.5 billion after placing bad bets on WeWork startup. Is there massive capital misallocation in capital markets as they are operating now, with waste and misallocation leading to depriving other productive investments for society's benefit being funded. 

During this period of misallocation in the way capital markets are functioning in allocating scarce capital, infrastructure investments in the U.S. and Europe have been badly neglected. The U.S. and Europe now lag behind China in 5G making this an issue with implications for society, and for protecting the public interest.

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India Production Linked Incentive to provide incentives to manufacturing in key sectors of the economy under Atman Nirbhar Bharat Abhiyan is discussed here in The Mint. PLI for textiles production and for pharmaceutical production with bold targets for 2025 are suggested. Other sectors are telecom (mobile phones) and networking (5G), computers, servers and other devices including Artificial Intelligence and related technologies a sector given special emphasis by minister Ravi Prasad in the video on PLI. 

Also included are automobiles and auto components, cell battery, solar technologies and production, specialty steel.

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How the peg to the dollar creates two major problems for the Gulf countries, Qatar, United Arab Emirates, Saudi Arabia. First it means higher inflation in these countries, with double digit inflation in Qatar and the Emirates, and 5% in Saudi Arabia. Second it means policy inflexibility, monetary policy should be tightened when the Fed is easing. Monentary expansion is as much as 15 to 40% in the Gulf countries. There are 2 option one is a revaluation at a much higher exchange rate but this does not solve the problem of monetary inflexibility. The other is to peg to a basket of currencies including euro and dollar just as Kuwait has done. A shift to a peg to a basket of currencies would lead to diversification with these countries holding fewer dollars and would hurt the dollar. Saudi Arabia is reluctant to go with a different peg considering the dollars precarious situation but other Gulf countries may follow Kuwait.

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The launch of 5G is expected to impact every aspect of life in India and act as a transformational force. Mr. Modi said he is happy that school children from rural parts of India, part of a 1.3 billion population, are a part of  this rollout. Students he said were interacting with eminent scientists from the classroom using this technology. He emphasized 4 pillars - cost of device, digital connectivity, cost of data ,and the mindset of Digital First. 

The goal is internet for all. Before 1 gigabyte of data cost Rs 300, now it costs Rs 10.  On average an Indian spends on 14 gigabytes of data a month which costs $150. This means, says Modi, that the poor are saving approximately Rs. 4000 a month. Adding that as the technology is developed locally- "This is not just India's decade, it is the century of India."

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Prime minister Modi cites the successful Mars mission "Mangalayan" as showing India's technological capabilities and its ability to do things speedily at very low cost. For foreign investors India offers a stable politcal climate because his party has an absolute majority in parliament and controls many state governments, as well as being a democracy with a vibrant and internet connected young generation. A young population with 55% of the people under age 35 makes India the manufacturing powerhouse of the next two decades, said Modi. And the consumer base of over 1.2 billion people an attractive market. It was a rare combination of hands on salesmanship rarely seen ever on television from a prime minister. In one exceptional response about the condition of women, Modi said he personally led his ministers and legislators through Gujarat state's rural areas house to house in 45 degree centigrade summer heat on June 11-13 school opening days. He did this urging parents to send their daughters to school with the slogan "Send your daughter to school, Save a Girl." The result he said was 100% school enrollment in these rural areas for girls. A rare person at a special moment in India's history pushing the goals of development with uncommon tenacity....

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The Labor Department statistics show unemployment dropped from 8.9% to 8.2%, however at the same time GDP growth for the 1st quarter only reached an estimated 2.1%, only slightly higher than the economy's potential of 2%, the figure for growth used by Fed chairman Bernanke. This has puzzled Bernanke because there was just not enough growth to account for the drop in the unemployment rate. A lower jobs number of 120,000 for jobs created in March 2012 gives the Fed chairman only a short time to respond with another version of the Operation Twist, before election season begins in earnest with the Fed wanting to stay neutral, says Lahart. Other reports suggest that the U.S. Federal Reserve having come under criticism for being too interventionist may decide to wait longer.

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The boost to Microsoft's share price expected from Windows 8 release in 2012.

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The top three books in Vanguard's recommended reading list for serious investors say its not more profitable to get into complex investments and strategies- simple investment approaches of putting money in Vanguard core funds or mutual funds of Vanguard and Fidelity are more likely to produce good performance. 2013 was another year in which this proved to be true, and to a remarkable degree. Hedge funds and complex strategies did worse than investing in broad index funds that produced about 29% in returns similiar to the rise in the broad market averages. Malkiel and Ellis suggest the simple approach in Elements of Investing. Swensen in Conventional Investing, and Bernstein in Four Pillars of Investing provide evidence of the wisdom of such an approach for serious investors. All four authors are financial experts who have followed the stock markets for six decades since 1950.

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The Chief Minister of Kerala writes about the Kochi Water Metro project to be inaugurated by pm Modi. The project was built at a cost of about $150 million with state funding and a loan from KfW, a German development bank that funds climate green infrastructure. 78 electric boats powered by batteries will transport people in Kochi between 38 terminals spanning 10 islands on the Arabian Sea.

The boats are built at Cochin shipyard with cutting edge design, light weight boats of aluminium hull and FRP superstructure. High court to Vypin on the first phase takes 20 minutes with tickets costing Rs. 20. Kochi One cards can enable seamless travel on Kochi Water Metro to Kochi Metro with weekly and monthly passes,

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PM Modi closes the 100th episode with the words- "Charaiveti, charaiveti, charaiveti, chalte raho, chalte raho"- from the Vedanta and Buddhist period in India is about life's endless journey and to keep moving, to keep moving, a whole country and about a billion and a half people on the move. Ideas become popular movements and the radio talk show every month by prime minister Modi takes on new meaning for hundreds of millions of young people in India. Ideas about "Swachh Bharat" or Clean India Mission, about the environment, health, about technology and education to transform the country, about women becoming a part of the economy, about the dignity of workers, about starting small business that creates jobs, about renewable energy. 

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Hardeep Singh Puri's service spans 39 years after graduating in the batch of 74 as an Indian Foreign Service Officer. He has served 11 prime ministers of India starting with Morarji Desai India's 4th prime minister in 1977. A truly remarkable record of service that is shown here in The Indian Express as the Pradan Mantri Sangrahalaya opens in New Delhi, a museum to honor India's prime ministers since Jawaharlal Nehru.

Hardeep Singh Puri is current minister for petroleum and natural gas, and minister for housing and urban affairs. He says "it took PM Modiji's bipartisan dedication to India's democratic institutions to immortalize the contributions of these great leaders for the current and coming generations."

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PM Modi opens the Vidya Samiksha Kendra, Command and Control Center setup by the Gujarat state Education Department in Gandhinagar. 

This center uses modern technology to monitor the work of 55,000 secondary schools, 400,000 teachers and 12 million students in the state. The aim is to improve learning outcomes, making certain teachers are conducting the classes, and tracking students if they migrate, looking out for possible dropouts. 

In the past it was seen that poor monitoring of teachers was leading to absenteeism and lack of seriousness. Dropout rates are also a concern and each child is tracked under the program, schools he or she has attended, tests taken and areas of the test where the student did not do well and should get help.

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It is the biggest change for lives of women in India- the 100 millionth connection of cooking gas LPG connection in India. Nothing like this change has been seen in centuries of history where 100 million women from poor households and their families have been thrust into the modern age. The two videos shown here show the outlines of the Ujjwala Scheme for cooking gas launched in 2016. The prime minister visits the home of the recipient of the 100 millionth cooking gas connection at her home built under loans for new homes under another scheme. This is taking place as Indian Railways has increased its investment in India's largest state of Uttar Pradesh to Rs.17,000 crores, $2 billion for 2023, with complete electrification of rail lines.