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European leaders emergency meeting Feb 16, 2025, after DJT lead negotiator Lt. Gen Keith Kellogg talks about Ukraine peace talks without Europe. Kellogg said "this will not happen."

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Reps. Eric Cantor (Va.), Kevin McCarthy (Calif.) and Paul Ryan (Wis.) have jointly written a book "Young Guns," that completely distances the new leadership in the Republican party from the leaders of a prior generation. The book says the older Republican leadership "betrayed its principles," by not controlling spending. See the the link to David Stockman who has criticized previous Republican administrations for their attitude to spending, including President Reagan. A recent NBC/WSJ poll shows only 24% of those polled seeing the Republican party positively. The idea is to differentiate the younger leaders as new voices in the party, different from the party's previous role.

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The FCAS project for next generation fighter jet and air defense system is intended to reduce dependence on US made F-35 jets at a cost of $100 billion euros. It will be built by Dassault and Airbus. Macron and Merz meet in Toulon, France for the project to move forward in August 2025.

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IMF is taking on a new role as the staff of the G-20 nations. As the G-20 has no staff, no headquarters, no offices, the IMF is being asked to tke on this role.

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Sales of single family houses in the U.S. decline by 2.4% in July 2014 compared to the prior month, and are at an annual rate of 412,000, according to the Commerce Department. Sales of existing homes are increasing but at a slower pace because of price increases. There is a 13.6% increase in median new home prices from July 2012 with wage growth of 2% a year.

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Lt. General Abdel-Fattah el-Sissi, the new defense minister appointed by President Morsi in Egypt, has close ties with U.S. officials. His ties to the U.S. go back to the basic infantry training course he took at Fort Benning, Georgia, in 1981. This marks a shift to a younger generation in the military from the aging military leaders of the Mubarak period, and was achieved by consensus so that the military could continue to maintain its privileges and the elected President Morsi could assume control of running the country. This was peceded by the visit of U.S. Defense Secretary Panetta to Cairo, in which he mediated between the different factions to ensure a peaceful and normal transition to democratically elected leaders. It also comes as the U.S. and European allies and Sunni nations in the Middle East are focussing their attention on Iran and the civil war in Syria. For the military in Egypt the situation in Syria could be one more reason to arrive at a rapprochement with the elected civilian government, and Secretary Panetta is likely to have pointed this out to Gen. Tantawi and leaders in the SCAF military body. It shows the considerable diplomatic and leadership skills of Secretary Panetta in helping to bring all sides together on a mutually agreed arrangement. The initiative was left to President Morsi because it was important that this be seen as a return to normal democratic processes by an elected president....

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In an historic event, the young Senator who introduced bills on improving fuel efficiency in the Senate only a few years ago, announces his proposal for a single national fuel efficiency standard of 35.5 miles per gallon in 2016. Mr Obama had the chief executives of 10 global auto companies all gathered together, as he made the announcement. It reverses decades of conflict on this issue, and puts the US at the forefront of developing new technologies for fuel efficiency and emissions control.

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Matthew Tsien, a vice president in GM China, will be the new president in Jan. 1, succeeded Bob Socia. Tsien will report directly to Dan Akerson, CEO of GM. Tsien is currently vice president of planning and program management and has experience working wih GM's joint ventures. The direct report helps to provide direct contact at the highest level with CEO Akerson. GM China chairman is Tim Lee, who is also executive vice president of global manufacturing. China provides about 30% of GM's global vehicle sales. GM is taking a new look at its China operations as increasing competition is eroding its market share. VW sales in China increased by 18% to 2.35 million cars and SUV's, in comparison GM sales were up 11% to 2.31 million, for the first 9 months of 2013. GM's plans going forward are to invest $11 billion in China through 2016 for 4 new assembly plants. This will boost annual production to 5 million vehicles in China by 2016.

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All sides had to make concessions to reach a new agreement on a restructuring of Greece's debt, and new terms for loans to Ireland and Portugal. The agreement was reached after negotiations between France, Germany, the ECB, and eurozone countries with a declaration issued on July 21, 2011. The powers and financing of the European Financial Stability Facility (EFSF) were expanded to be the main mechanism for channeling EU funding to reduce the burden of Greece's debt. Germany will provide new funding and be open to additional commitments, something German chancellor Angela Merkel had resisted since the beginning of the crisis in 2010. Earlier funding had come with high interest rates and only when the situation had reached a crisis, with Germany insisting on the punitive rates and conditions as a way to discourage countries from taking advantage of cheap borrowing. In exchange for commitment of German funds Ms Merkel had insisted that banks and private creditors share in the losses. Private bondholders resisted but finally agreed to take a loss of 20% of principal on a small portion of the bonds. Their larger concession was to take lower interest rates and extend the maturities to 15 years and 30 years on new bonds which are guaranteed by the EU. The specific terms of the agreement are as follows: The EFSF and the IMF will lend Greece 109 billion euros over 3 years at 3.5%. Private creditors including German and French banks will "voluntarily" turn in their old bonds for new ones that mature over 15-30 year periods. These new bonds include 15 and 30 year Greek bonds with varying coupons. Some of the bonds would have a 20% discount on principal. EU leaders say the private sector contribution amounts to 37 billion euros through 2014 and 106 billion euros through 2019. Another part of the program is for the EFSF to buy back some of the Greek bonds on the secondary markets, which would mean Greece would now owe a smaller amount to the EFSF on these bonds. The EFSF will now have additional financial support from Germany and other EU countries and be authorized to provide aid to countries before a crisis situation arises. It would also have power to buy Greek bonds at prices on secondary markets to reduce the Greek debt burden. Ireland and Portugal are also assisted in the agreement. The interest rate for EU aid to Ireland and Portugal is taken down to 3.5%. Ireland is paying about 6% on the EU portion of its 67.5 billon euros bailout and efforts to reduce the rate were resisted earlier. The main theme behind these concessions and provisions is to give Greece, (and Ireland and Portugal) a chance to grow. High interest rates came under strong criticism because it only increased the size of the debt burden of these countries with a shrinking economy and high unemployment. The failure to come together behind a broad and sensible agreement with all parties making serious concessions, the EU, the ECB and the political leadership in these countries especially Greece, was undermining confidence in the euro and the eurozone itself. By mid-July Italy and Spain were feeling the effects of contagion in the financial markets, U.S. debt ceiling negotiations were unsettling global financial markets, the pressure was intense to come up with the workable agreement achieved on July 21, 2011. ...

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Mario Monti, the head of the new Italian government after the resignation of prime minister Berlusconi, taught political economy at Bocconi University in Milan. He is the president of Bocconi University. He spent a decade in Brussels as a member of the European Commission. He was commissioner of internal markets, and then served as commissioner for competition. He is known for antitrust enforcement during his work as EU commissioner of competition. First, blocking the merger of Honeywell and General Electric, and then imposing a fine of $650 million on Microsoft for antitrust violations. He is also the honorary president of Bruegel, an economics research institute in Brussels. Monti is an outsider to Italian politics in Rome and depends on the goodwill of the political parties to implement his program.

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The General Data Protection Regulation is a new law in Europe that gives online users the right to request information collected about them, and restricts the ways in which companies collect this information. Experts say this is a harbringer of future trends in other countries and regions. Brazil and other countries are considering similar laws to protect user privacy.

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Verizon with the largest LTE network in the U.S. will benefit from the new iPad released in March 2012, which has LTE capabilities.

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Shoichiro Toyoda and Okuda who ran Toyota in the eighties and nineties to make Toyota what it is today, question Toyota's strategy. The precise criticism is outlined in this article at the timwe Tooyota was considering its eigth plant in Tupelo, Mississippi. Their criticism focusses on the complacency to tolerate higher labor costs, to accept less manufacturing efficiency in overseas plants compared to Japan, and put in billions of dollars in new plants which may not be profitable quickly when the same result can be accomplished by adding more assembly lines to existing plants. The Toyota Tundra plant in Texas has overcapacity as the pickup has not sold as expected and this could happen at other plants if Toyota is not careful enough. Also the decisions to build plants in many different states appears to be based not just on manufacturing efficiency but also on desire to win political support in those states- California, Indiana and 6 southern states. Has that gone too far even when it is cheaper to manufacture in Japan because of the weaker yen? If it helps to keep the targets for Toyota vehicle content made in the USA (when imports have increased significantly) cannot this be accomplished by adding more assembly lines to existing plants? These are the points made by Shoichiro and Okuda. Especially that complacency may be getting into decisionmaking at Toyota. Behind all this is the fear that the Big Three may finally be breaking free of the higher unionized wage and benefit costs that put them at a disadvantage. And at the same time the quality gap may be shruinking between Toyota and the US manufacturers. This is evidenced in other articles, one recently on Ford's progress in JD Powers surveys. Here the figure of 2.3 million vehicles recalled in 2005 by Toyota is cited as showing Toyota slipping in the quality it was known for....