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Denmark plans a huge wind farm project in Germany on an artificial island with 200 turbines. This will be Denmark's biggest infrastructure project. Germany plans to reduce emissions by 65% over 1990 levels by 2030. This means projects like this will be needed. Denmark prime minister Witte is on a 3 day visit to India with renewable energy projects under discussion. Germany's Economics Ministry has set up a joint working group with Denmark. 

The new project will be the size of 18 soccer fields setup on this artificial island in the Baltic Sea, to generate 3 GW enough for 3 million households. After this the project second stage is to install more turbines, for a total of 650 turbines, according to Der Spiegel. The project will cost 28 billion euros ($32 billion) with energy planned flowing by 2033.

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In this exceptional piece Galston says institutions such as Johns Hopkins University in the Baltimore area have to do more to integrate their activities with the city in the way Carnegie Melon University and other institutions helped revive Pittsburgh. Pittsbugh suffered a hollowing out of manufacturing with foreign competition, population decline and unemployment reaching 17%. It suffered economic decline in a way that happened in Detroit over the last decade. A concerted effort by the city's political, economic and nonprofit leaders is credited with making Pittsburgh one of the most livable cities, and reviving industry around new innovation. The unemployment rate in Pittsburgh is 5.4%. Galston acknowledges that Baltimore is 63% black, and Pittsburgh 26%, yet race is not the only factor, and Galston points out the need for Baltimore to work diligently to build on its educational and medical technology assets to build a new future for the city.

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The European Union governments are finding it increasingly difficult to salvage the Iran nuclear deal and lifting of sanctions. European governments rejected Iran's 60 day ultimatum to help circumvent U.S. Trump administration sanctions. The U.S. sanctions have already led to Iran's oil export to drop from 2.5 million barrels a day to 1 million. Lost shipments have cost Iran $10 billion hurting its economy. Initially European nations France and Germany hoped to keep the 2015 Iran nuclear deal by working with Iran, but this has become increasingly difficult with the Trump administration increasing sanctions including limiting access to U.S. markets for nations that do not cooperate with U.S. policy. The U.S. pulled out of the Iran nuclear deal and now it looks like the Europeans are faced with a difficult choice in continuing to work with Iran.

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A $250 millon award by a jury to a group of employees of Novartis AG. The jury agreed that Novartis had discriminated against women in its sales force for pay and promotions, and discriminated against pregnant women.

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An overwhelming number of readers who commented on this article by October 27, 2009, were opposed to sending 40,000 more troops to Afghanistan. Looking at all comments in detail one finds that of the 64 readers commenting only a handful, about 8-9 supported sending these troops. Ninety percent of the comments to this editorial asking Obama to fight this war with conviction seriously questioned the wisdom of doing this. Many readers asked why aren't the Europeans putting thier lives at stake, and two asked how the Economist could with astraight face say that Britain's 500 troop increase was a welcome gesture. Readers questioned the assumptions and statements made by the Economist such as" letting the region "slip into amaelstrom of conflict," or "permanent cross-border instability," and "a terrible betrayal of the Afghan people, " in many of the comments. Readers seem conscious of the fact that its not a precipitate withdrawal that is being discussed, its a war for the long haul that it inevitably becomes as the US forces get deeper into the conflict in the mountains of Afghanistan. The discussion is not about the next 6 months but of next year and the year after that and the year after that. That is also what General Colin Powell advised President Obama. He asked Obama to think clearly about the clear goals of this mission. See the link to Powell. The question arises is whether the Economist sensitive to its readers thoughts on this subject, and it is how does it account for such an absolute majority of sensible readers having serious questions, doubts, and outright opposition to a deeper conflict in Afghanistan?...

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Lee Kuan Yew, Singapore's prime minister for 31 years since 1959, and Senior Minister since then, has finally resigned. He is 87. The party he founded, the PAP, won only 60% of the vote in the recent elections.

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A third of 60 manufacturing companies surveyed by Manufacturer's Alliance say they will hold back on hiring till the "fiscal cliff" situation gets resolved and after they know what the effects of spending cuts will be on consumer spending.

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BHP Billiton agrees to a 60% reduction in the price of coal for Japanese steelmakers. For top grade coal Nippon Steel will pay $129 a ton compared to the price agreed of $300 for the year starting April 1.

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Google's 2 for 1 stock split in March 2012, and special voting shares that give Sergey Brin, Larry Page and Eric Schmidt more control over the company. The two founders and Schmidt now control about 68% of super-voting shares.

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Uchitelle of NYT says it may be years, 3-7 years, before all the idle capacity that is created gets used again. Only 68% of the country's manufacturing capacity us being utilized at this time and the numbers will keep dropping.

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China's government is taking up stakes in private companies with large debt and needing financing. Private enterprises have less access to cheap bank loans and other types of financing than state owned firms, and are squeezed by China's efforts to reduce pollution and overcapacity. The tariffs war with the U.S. has also hurt the economy and taking stakes in private companies is way to ensure business stability for China. Its an effort to keep employment stable in the private sector that has 60% of the jobs. Zhejiang Great Southeast Company is a plastics packaging company with founder Huang selling his entire 29.5% stake in the company to state owned Zhuji Water Group Co for $168 million. He did this to repay holding company loans for which he pledged two thirds of Zhejiang Company shares. Beijing stepped in to ensure there is no sharp rise in unemployment. In the first 6 months of 2019 Beijing took 47 such stakes, according to Fitch Ratings, with 52 stakes taken for all of 2018.  The purchase of stakes includes state run companies and investment vehicles of local governments. Even this does not reflect the whole effort of China to ensure no sharp increase in unemployment. From October 2018 local authorities and state linked entities put together about $100 billion of "relief funds" very quickly, estimates from TF Securities. These funds are for passive investments, state owned enterprises normally take on a hands-on role in running the companies. Oxford Economics estimate is that China's private sector provides about 60% of all urban jobs in 2017, increasing from 36% in 2010. Researchers say China stepped in in this way after failing to get banks to lend more to the private sector. The tight supervision to reduce risk of supervisory agencies has made it harder for private companies to get loans. Shadow banking and trust loans was an early target, and stock market selloff hurt entrepreneurs who used shares as collateral for loans. ...

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There are questions whether the Black Rock Germany "Dare Capitalism" (his book) model of CDU's Merz with a debt brake support limiting investments needed in the economy are right for Germany's future. Wash. Post says people close to him say he is direct and pragmatic but also arrogant and thin skinned. Friedrich Merz is 69 years, Konrad Adenauer was 73 years when he took office. 

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Measles vaccination rates in France have dropped to 79%. The World Health Organization requires vaccination rates of 95%. There were 2902 cases of measles in France in 2018. A UNICEF director says measles may be the disease but the real infection is misinformation and conspiracy theories. In provincial towns where the yellow vest protest movement is active about 62% of the people believe the government hides the ill effects of vaccination.

Tough new legislation was passed in France to require that children be vaccinated with diptheria tetanus and polio vaccinations mandatory.

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The apparent call by the US Chamber of Commerce for a Scopes type monkey trial cited in a Los Angeles times article -like that of the 1920' for evolutionists and creationists- to test the science of climate change, has led to vigorous protest from Exelon, autility company that manages most of the nuclear plants in the country. PG&M and PNM are other companies that vigorously protested these theatrics as they call it. The US Chamber of Commerce has opposed environmental legislation and is vocally opposing the EPA's use of an existing law, the Clean Air Act, to set limits on greenhouse gases. Exelon, PG&E, and PNM have withdrawn from the US Chamber of Commerce to protest. Other companies opposing the chamber's statements on climate change are Nike, J&J, Duke Energy.

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As Toyota Kirloskar moves to increase capacity at its plant in Bidadi, Bangalore, to 5000 units of the new compact car, localisation for components becomes abig part of the strategy. The goal is to achieve 90% localization by 2011 from 65% today, as parts imported from Japan cost more with the over 30% appreciation in the yen-rupee exchange rate. The Innova has 65% localization of components, and the Corolla has 45% which will be moved up to 75% and 50% respectively by 2010. The dealer network will be expanded from 82 to 150 by 2010-end and Toyota-Kirloskar wants to be in the semi-rural and rural towns. The pricing will be between aSantro top end varian and a Honda city entry variant, priced at Rs 5-7 lakhs.

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Increasing regulation on Mexico's telephone monopoly of America Movil, and Telmex, part of Carlos Slim's telephone business in Mexico. Mexico's three main parties have agreed to increase regulation on the monopoly to reduce the high charges paid by Mexico's telecom users. Estimates by OECD show Mexicans paying an extra $13 billion a year from 2005 to 2009 because of the monopoly and high prices. The administration of Pena Nieto made controlling telecom and other monopolies an important part of its program. To get an idea of the extent of the monopolistic control - 70 percent of the cellphone market and 65 percent of fixed lines are controlled by companies run by Slim.  AT&T is now a competitor and is helping bring down high cellphone plan prices.

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Arizona remains a state where the Republican and Democratic parties are very close. As Senator Krysten Sinema a Democrat, supported the Republican filibuster that required 60 votes for major legislation and thwarted some of president Biden's legislation to help workers and families in the US. Having alienated some Democrats she is now running for the Senate as an Independent. Her likely opponent from the Republican party is Kari Lake. Arizona is split three ways evenly for Republicans, Independents and Democrats. The question for Sinema says a Republican strategist is whether there are enough independents and soft Republicans who will vote for Sinema. Rep. Ruben Gallego is running for Democrats, Kari Lake for Republicans. Another question is whether Kari Lake's association with Mr. Trump could hurt Republicans in Arizona. Synema faces a difficult three way race as Democrats see her flagging support on key initiatives of the president as a serious problem.

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The coronavirus is making implementation of the U.S. China trade deal less likely as Chinese imports from the U.S. decrease and China's exports continue to grow. China's exports to U.S. decreased by $60 billion but increased to other countries by $70 billion in 2019.

As a result the Trump administration is shifting its focus to another approach. The new multilateral approach is to combine the effort with allies Australia, India, Japan, South Korea, Taiwan, and France. This would take the shape of a Comprehensive and Progressive Agreement for Trans-Pacific Partnership to replace the old Obama period Trans Pacific Partnership which becomes defunct. The goal would be to build new supply chains with allies in Asia outside of China with the help of France and other countries that are wary of excessive dependence on China and have deep reservations of China's handling of the coronavirus outbreak.

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Career changes through music, fashion furniture, leads to interior design for Brigette Romanek in Los Angeles. She remembers women who were strong in her life as she moved to different cities, her aunt, her grandmother. She says she learned from herself that she would not give up. she also learned she was creative. An episode in which she designed hand bags led to her realizing how important it was for people to feel good, feel confident. 

She says she likes to work late at night when it is really quiet. Romanek loves design from the 60's and 70's  and classics from that period, shapes from that period that were simple but fun. She talks about a large olive tree in a room, for calm and grounding. The indoors going outdoors as concept. Bringing positive moods in people's minds through objects of beauty.

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Garweth Southgate is seen as one of Britain's most admired leaders in this report in The Times. His popularity is at 72%, compared to Churchill's at 65%. He is seen as "a decent bloke."

Born in Hertfordshire, educated in West Sussex, Southgate's soccer career ended in 2006 playing for Middlesbrough after defeat in a Uefa final with Seville. His managerial career started that year and he was manager till 2009 when Middlesbrough were relegated on the final day of the season. He was out of management for 4 years till he took charge of the under 21 team. In 2016 he took charge of the England senior team. Southgate has seen the ups and downs of soccer both as a player and a team manager, which has given him the humility and sense of respect for others that has marked his career. 

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Francois Fillon wins 44% of the vote to Alain Juppe at 28.6%.  Mr Sakozy suffers defeat in the election primary after 3 presidential debates in which Fillon's "statesmanlike" image came across better than the flamboyant style of Sarkozy. Another factor is that Juppe is seen as too close to former president Chirac and suffered from his effort to make changes and job cuts as prime minister under Chirac. Fillon is less well known which turned out to be an advantage. Fillon has the support of traditionalist Catholic groups. Fillon's platform is for 500,000 job cuts to reduce the large size of France's public sector, remove the wealth tax imposed by Hollande, reduce taxes, increase work week to 48 hours maximum and scrap 35 hour work week, gradually raise retirement age to 65, increase business incentives to improve economic growth. Fillon lives in Le Mans western France.

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The Space Shuttle with astronauts Behnken and Hurley makes a sea landing in the Gulf of Mexico after a 64 day trip to the Space Station orbiting the earth. 

After the retirement of the Space Shuttles in 2011 NASA relied mainly on Russia to send astronauts up into orbit to connect with Space Stations. Under the Obama administration two private companies were hired by NASA to operate Space Shuttles SpaceX and Boeing to take astronauts up to the space station in orbit. Much of the work to build the spacecraft is financed by NASA. 

Space exploration was not a priority for the Obama administration after the financial crisis resulting from banking behaviour in 2009.The U.S. under the Trump administration is renewing America's efforts for space exploration for science and out of a curiosity for what lies outside our planet.

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Peter Eavis describes the results of the new Federal Reserve LISCC's determination under Tarullo, Gibson and Taylor, to bring discipline to financial markets and reduce systemic risk. Over the last 3 years Goldman Sachs has spent $16.3 billion in buybacks, about 70% of profits, to return money to shareholders and improve metrics such as earnings per share. This strategy will now have to be reversed. With the Fed stress tests in Feb. 2015 the focus is on banks with large trading desks. Goldman unlike other banks has counted on a strategy of preserving a large trading operation in the hope that this will earn the bank larger profits when the market recovers. This does not sit well with the Fed in the 2015 stress tests- showing a $23.8 billion loss if the stock market fell by 60% in a crisis, leaving Goldman with a bare minimum in reserves. Goldman will now have to reduce the buybacks to add to reserves after the current stress tests, and pare down its trading desk operation.

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A Pew Research Center poll before April elections shows 70% of Indians dissatisfied with conditions in the country. 63% of those polled say they prefer the opposition BJP party to lead the next government, compared to 19% for the ruling Congress party. More significant was the favorable view of Narendra Modi by 78% of those polled, with only 16% holding an unfavorable view of Modi, the chief minister of the state of Gujarat which has seen fast growth rates. The Congress party has been hurt by a series of corruption scandals, weak leadership and poor management of the economy as growth slowed in 2012-2013.

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Daniel Yergin, expert on international oil markets, says the oil price cap set by the US and EU at $60 and the European prohibition on Russian oil imports after Dec. 5, means the end of the global oil market. That global oil market came into place with the collapse of the Soviet Union and the industrialization of China. In its place comes a partitioned oil market shaped by not only economics and logistics but also by geopolitical strategy, says Yergin. This means Russia no longer sends 4 million barrels a day to Europe. The price cap is a US strategy to prevent a price surge with Russia cutting production to raise prices. It is working. with a slowing world economy, and shipping companies reluctant to take on unknown liabilities from government penalties, the price of Russian oil is now at mid $40's, about 45% below the benchmark price and 33% below the $70 price of oil on which the Russian budget is based, says this report. This has an unintended effect of enabling India to support its modernization drive with oil imports at reasonable prices coming just after a pandemic. ...