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Starmer and closer EU-Britain relations after meetings at Lancaster House March 2025.

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A leading consulting company reaches a legal settlement with 47 American states to pay $573 million for its role in the catastrophic opioid crisis. The opioid crisis led to the deaths of almost half a million Americans between 1999 and 2018, from overdoses of prescription pain killers and illegal opioids, according to the US CDC.

McKinsey worked with Purdue Pharma to boost sales of opioid painkiller Oxycontin, says this report in DW.com. 

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Many German hospitals depend on supply of doctors from other parts of Eastern Europe such as Poland and Hungary to address a shortage of medical staff. German hospitals have increased supply of equipment but are still facing serious shortages of medical staff as the second wave of the pandemic hits Germany. By December 8 there were daily over 590 deaths, and ICU capacity was being strained beyond a critical point.

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The closing of Project Thunderdome, a project to provide national and foreign articles to 75 newsrooms of Digital First Media Holdings newspapers. The decision was made by private equity firm Alden Global Capital. Digital first newspapers include Detroit News, Denver Post and Salt Lake Tribune. The idea was to consolidate the newsroom. Alden Global Capital gave as the reason cutting costs, and local being where the revenue was generated. In the journalism industry such efforts are being increasingly viewed with skepticism as hedge fund or private equity are focussed on the short term, make abrupt decisions, and are not willing to invest over longer periods the way Amazon founder Bezos is able to do at The Washington Post.

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The emphasis on clarity in communicating monetary policy taken by Ben Bernanke at the U.S. Federal Reserve. This is of special significance as political parties in the U.S. face tough fiscal cliff negotiations in Dec. 2012. The Fed laid out its plan on interest rates in clear and precise terms, giving for the first time a specific figure on unemployment of 6.5%. The Fed plans to keep rates low till unemployment drops to 6.5%, as long as inflation is subdued at about 2-2.5% and long term inflation expectations remain low. A similiar approach was adopted by Mario Draghi of the European Central Bank by clearly communicating intentions for buying bonds of Spain and Italy in July 2012 with his statement "Believe me this will be enough." This contrasts with the style of central bank chief Shirakawa at the Bank of Japan which has led to serious criticism in Japan.

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The collapse of the will of people around Yanukovych, including a deputy interior minister, as fighting units moved with weapons taken from an armory in Lviv towards Kiev, may have been the decisive event that decided the fate of the Yakunovych government. The deputy interior minister then negotiated with a protest leader Levus realizing that other than the front line of police the rest of the police were ready to abandon the fight. Levus then negotiated a safe corridor for the police to withdraw. As the Polish diplomat Sikorski came out to the square he found to his complete astonishment the police simply disappearing from the Square in Kiev. Hours earlier he had warned protesters that a crackdown was coming and they would all be wiped out, according to a report in the WSJ by Benoit, Norman and Fidler, 2/22/2014, so that they should accept a deal which would set a date for new elections but not lead to the immediate resignation of Yakunovych. That deal it also appears came after a Putin call to Yakunovych and not simply from diplomatic pressures, and it is probable that Putin had realized earlier than the diplomats that most of the police were not going to fight. Bringing in the army would have had dangerous consequences for relations between Germany and Russia in particular- as German public and chancellor Merkel felt strongly about the situation in Ukraine- and relations with the European Union and the U.S. Putin, Yakunovych, and even the EU diplomats may have missed the depth of feeling in Ukraine and the organization of the protest movement. Germany and chancellor Merkel, with her determination to make things come out right in Europe after a flawed history, gave hope to the protest movement. ...

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Total payments if a payout is triggered on credit default swaps on Greece is $3.2 billion.

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Canada has still not figured out a way to assimilate the 800 or so Indian bands, who are the native peoples of Canada, and still help them keep their languages, cultures and traditions, and independent existence. The bureaucratic structures set up to adminster the Indian Act and post colonial policies act as another hurdle to creating apolicy that fits in with the new values of a new generation of multicultural Canadians.

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The writer, Dhillon, a fellow at the Brookings Institution, would like to see a more inclusive India inclusive of its Muslim minority, which he says has been marginalized, and a middle class that exercizes its civic responsiblitlies with participation in the process of democratic government. He also calls for looking at the neighborhood India is in, and coming up with longterm viable solutions that would work well for the region's progress.

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"This is a very, very, very, big deal," says Chuck Schumer about the Climate Change bill that is expected to pass in the Senate of the US this weekend August 6-7, 2022. This is the biggest climate bill in history, and may also be called the Schumer-Manchin bill after the compromise reached to give oil and gas some support with big moves for climate change action between now and 2030. It gets Biden and the US to within 40% reduction of carbon emissions over 2005 emissions by 2030, when the commitment by the US at COP26 Glasgow is for 50% reduction over 2005 emissions by 2030.

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Analysts say Abbott has paid a steep price for India's Piramal Health Care. Abbott is buying the Indian drug company for $3.72 billion, which is 48% above Piramal's market cap. Going by Piramal sales of $500 million a year , this is 7 times expected sales. Daiichi Sankyo paid 4 times sales for Ranbaxy in 2008. Analysts say this will give Abbott a 7% market share in India's branded generics market. Yet this market is highly fragmented with the top 20 makers having 60% of the market and many small companies.

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Michael Boskin, the elder president Bush's chairman of the Council of Economc Advisors was instrumental in setting up the North American Free Trade Agreement (NAFTA). Here he points to the dire need to open up trade between India and Pakistan. Trade today between the two countries is $2.7 billion. Under trade models Boskin says the trade could be 20 times larger, about $50 billion. This would increase benefits and wages in both countries and is badly needed and long overdue.

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Nikos Voutsis, Greece's interior minister, says Greece lacks the money to make debt repayments of 1.6 billion euros to the IMF in June 2015. A proposal by the Left Platform, a faction within Syriza party led by energy minister Lafazanis, which has support of 30 of the 149 Syriza representatives in the Greek parliament, calls for not making debt repayments and looking for an alternate plan. It was defeated by the central committee of the Syriza party on May 24, 2015, with the vote 95 to 75 showing intense opposition within Syriza. Instead Syriza voted for a proposal to call for mutually beneficial negotiations and a deal that would preserve its core goals- a low target for the primary budget surplus, avoid more cuts to pensions, and restructuring Greece's debt to include an investment plan for economic recovery. Both sides in the negotiations, the EU/IMF and Syriza government in Greece, reached an impasse as the negotiating tactics of finance minister Varoufakis led to German finance minister Schauble also taking a tougher stance, saying he could not rule out Greece defaulting on its debt. ...

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How Mexico's drug war is creating a situation where a surge of personnel may be needed at the border with the US. President Calderon faces a struggle with criminal drug trafficking gangs that use bribes to weaken the entire police and anti drug efforts of the government. Corruption is rampant in Mexico.

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Efforts to get back on track where TARP started in the first place, with the goal now to rid banks of troubled assets by putting them in aseparate institution.

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Lenovo shows a profit of $129 million for this fiscal year compared to a net loss of $226 million in the prior year. Revenues in the 1st quarter of 2010 went up to $4.32 billon from $2.77 billon with proft at $13 million. Margins are still under pressure because of growth in the lower priced PC market segment. Gross margins fell to 10.4% this year. To diversify Lenovo has introduced the Le Phone with China Unicom (Hong Kong) and sees sales of its mobile phones exceeding Apple's iPhone sales. It has also developed a prototype of a tablet PC in January 2010. PC shipments in China of $2 billon account for 45% of 3rd quarter revenues- up 67% in China's fast growing PC market. And Lenovo's plan is to expand sales in India, Russia and Turkey, from the current 5% in the fourth quarter ending March 31, 2010, to double digits.

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The NYT's Kristof gives this exceptional report on the use of cancer causing chemicals all around us in many consumer products. With the increased use of chemicals has come the tripling of asthma rates in the last 25 years, leukemia up by 1% a year, increasing obesity, and breast cancer rates increasing from 1% in 1975 to 12% today with only some of it from better detection. Doctors at the Mt. Sinai School of Medicine in New York, say American girls who had puberty at the age of 17 in 1800, now have puberty at the age of 14, even 12. Earlier menstrual cycles increase the risk of breast cancer because of increased exposure to estrogen. Studies show exposure to pesticides, PCB's and other cancer causing chemicals increase the risk of cancer, and a link to early puberty. Asian women moving to the U.S. are also experiencing higher rates of breast cancer as they move to societies with higher use of chemicals in daily life, say experts at Mt. Sinai. Poor eating habits and lifestyles with less exercize are also to blame, but chemicals also play a role. Americans are moving towards shunning packaged processed foods for fresh food in their diet, and more are learning the benefits of regular exercize, but the same degree of public awareness is lacking for the extensive use of chemicals in our consumer society. In other societies around the world that are copying us such as in China, India and Brazil, the situation is even worse, with the spread of a reckless idea that modernization requires jettisoning health safety concerns. Even a simple pizza box has PFAC's chemicals made to make the box resistant to grease. In 2015 where products are labeled environmentally friendly by large companies to attract buyers and build the right image in the minds of consumers, consumers asking questions and making better choices make a difference by offering a seal of approval. Carpets have chemicals, and most disposable plastic containers contain chemicals that could seep into the food if heated. The use of plastic containers and microwaves is common practice in todays society, where less cooking is done on the stove than in the period before 1960. The sheer size of the chemicals developed since 1950 is staggering- more than 80,000 chemicals according to the Children's Environmental Health Center at Mt. Sinai. And this Center says less than 20% have been tested for toxicity. ...