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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....

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Edward Johnson and daughter Abby Johnson- Fidelity Investments succession turmoil and Abby Johnson emerging as CEO is covered in a new book- House of Fidelity by Justin Baer, Deputy Markets Editor WSJ. CEO Edward Johnson (Ned) failed to come up with a succession plan and executives under him were planning to sell the company to Chase or another bank. Ned had talked to Chase's Dimon in 2005 and said he was not interested in selling the company founded by his father. Yet this is what executives under Ned, Reynolds had in mind, who did not have confidence in Abby Johnson's leadership. Fidelity Investments has recovered from poor performance in that period and manages the pension plans of employers in the US, being the largest in this business. In 2026 Fidelity manages life savings of 20% of American adults and 50% of these customers signed up in last 5 years, says WSJ. After a period in her performance in the mutual funds business which was not great Abby was listed for demotion by executives under her father, who would sent her to run the philanthropy part of the business. It shows how awoman now 64 years struggled through this period and took the bold step of defying her father through control of 41% of the stock of the company to gain control of the company- a step that led to her father relenting and letting Abby run the company. It is a tale of how in such situations even the most favored can be put at a disadvantage by perceptions - in this case by Reynolds of Abby's leadership and ability- and need to act swiftly and decisively after impressions have been formed that lead to an outcome that doesn't need to occur. Her father Ned even though he in his younger period was a good stock picker, failed in two ways. By not planning a clear succession and lacking confidence in his daughter to overcome temporary obstacles. ...

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Nissan and NEC plan to invest $115 to produce a lithium ion battery in a 3 years project with capacity of 13,000 a year in the beginning growing to 65,000 annually by 2011, mostly for cars. Nissan has a 51% ownership stake in the new company. Nissan and NEC say their laminated cell battery uses a stable crystal structure called spinel manganese that will eliminate risk of overheating.

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Daniel Yergin cites an estimate by IHS Cambridge Energy Associates which shows oil from shale and dense rock, which was about 1 million barrels a day in 2011, could reach 3 million barrels a day 2020. North Dakota where much of the production is taking place is now fourth in oil production in the U.S. after Texas, Alaska, and California, and is likely to move up to second place. U.S. imports of oil come primarily from Canada 25%, Mexico 11%, Venezuela 9%, and the Persian Gulf 16%. Canadian oil sands development has increased production and the completion of the Keystone pipeline will increase the share of oil imports from Canada. This is shifting the dynamic of oil away from the Persian Gulf, with the volatile politics in the region, and more towards North America.

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The air quality around Chinese cities is worsening because of coal fired plants and increasing demand for energy, and because of exhaust from automobiles filling the highways. The air quality around Beijing violated the WHO standards more than 80% of the time during the fourth quarter 2008 period. China's Ministry of Environmental Protection says in a report that more than 25% of China's rivers, lakes and streams are too polluted to be used for drinking water. And acid rain is a problem in 200 of 440 cities it has monitored. Efforts to control the exhaust pollution from cars by putting driving restrictions in Beijing are not as effective. One report says that even after 20% of private cars are taken off the road each weekday, the 250,000 new cars that were added to Beijing's streets in the Jan-April 2010 period, have left things as bad as they were before.

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Research In Motion's new CEO, Thorsten Heins, worked at Siemens for 23 years. He joined RIM in 2007. During the Siemens years Heins was head of the communications business and cheif of technology. At RIM he was the chief operating officer. He was brought into the company to bring new perspectives and fresh thinking into RIM. As COO he was in charge of hardware, software and more recently of sales. He said he plans on continuing the current strategy with better execution in product development and introduction and in marketing. RIM will continue focus on its next generation operating system, which it hopes to license to other companies.

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PM of Sweden Ulf Kristersson on the Joint Statement of the Nordic nations with India. Joint Statement: 3rd India-Nordic Summit, Oslo, 19 May 2026 Published 19 May 2026 1.  Today in Oslo, the Prime Minister of India, Shri Narendra Modi, the Acting Prime Minister of Denmark, Ms. Mette Frederiksen, the Prime Minister of Norway, Mr. Jonas Gahr Støre, the Prime Minister of Finland, Mr. Petteri Orpo, the Prime Minister of Iceland Ms. Kristrún Mjöll Frostadóttir, and the Prime Minister of Sweden, Mr. Ulf Kristersson, held the 3rd India-Nordic Summit hosted by the Norwegian Prime Minister. This Summit builds upon the previous two Summits held in Copenhagen in 2022 and Stockholm in 2018. 2. The Prime Ministers noted that they are meeting at a time of global geopolitical flux and rapid economic and technological transformation and agreed on the need to deepen the partnership between India and the Nordics for mutual benefit based upon shared interests and values and to cooperate in addressing global challenges. In this context, they decided to elevate the India-Nordic relationship to a trusted Green Technology and Innovation Strategic Partnership. 3.  As leaders of vibrant democracies and large open market economies, they underscored their shared interest in fostering a robust and resilient global order based on international law that promotes peace, stability, inclusive economic growth and sustainable development.  4. They reaffirmed their commitment to upholding international law, shared values and obligations including democracy, freedom, human rights, gender equality, rule of law, respect for sovereignty and territorial integrity and international peace and security in accordance with international law, including the United Nations Charter. 5.  The Leaders discussed international peace and security including the conflicts in Europe and the West Asia/Middle East. 6. They discussed opportunities for collaboration in trade and investment, blue economy, circular economy, digital infrastructure, digitalisation and artificial intelligence, climate action and energy security, fighting pollution, water, research and education, talent mobility, healthcare, space & geospatial sectors and defence. UN, multilateralism and international cooperation 7.   The leaders reiterated the importance of an effective multilateral system, with the United Nations at its core. They confirmed their commitment to work towards reforming the UN, including the UN Security Council, to make it more representative, inclusive, transparent, efficient, accountable, effective and reflective of the contemporary geopolitical realities. The Nordic Prime Ministers reiterated the support of the Nordic countries for permanent membership for India in a reformed and expanded UN Security Council. The Nordic leaders welcomed India’s application to the Nuclear Suppliers’ Group (NSG), and emphasized the importance of the international multilateral export control regimes in upholding non-proliferation and international peace and security. Trade, investment and economic cooperation 8.  The leaders emphasised the importance of a continued central role for the World Trade Organization in the multilateral trading system and global trade governance. They underscored the importance of a fair, open, transparent, equitable, non-discriminatory, inclusive and rules-based multilateral trading system, with WTO at its core. 9.   They acknowledged the significant economic exchanges in the form of trade and investments between India and the Nordic countries in promoting sustainable economic growth, prosperity, circular economy, bioeconomy, sustainable development and supply chain resilience. 10. To facilitate trade and investments and contribute to the objective of sustainable development, they particularly welcomed the entry into force of the India-EFTA Trade and Economic Partnership agreement and the conclusion of the India-EU Free Trade Agreement. The leaders also welcomed the active business exchanges in the margins of the Summit and highlighted the need of continued business exchanges to identify opportunities. The leaders stressed that in addition to the economic benefits by enhancing market access and removing trade barriers, the India-EU FTA and India-EFTA TEPA could support economic security and resilience through diversifying critical value chains and opening new markets. They welcomed the shared objectives under TEPA that EFTA states shall aim for investment of USD 100 billion leading to creation of one million direct jobs in India. 11.   The leaders further emphasized the need of undertaking initiatives to improve connectivity between the Nordic and the Indo-Pacific regions, including in line with the continued development of the India-Middle East-Europe Economic Corridor. ...

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National Portrait Gallery exhibition on "America's Presidents," opens May 15 after a month long closure during which the writing about each president was changed to take out comments from the culture wars in the description of each President. The format includes extracts from farewell addresses, basic resume of life, education, accomplishments. For the recent presidents history's assessment is not known so that descriptions cannot be authoritative. For the presidents from an earlier period there is a sense of authority. For instance the presidency of James K. Polk- “The presidency of James K. Polk reflected his belief in Manifest Destiny,” begins one summary. Another is "Andrew Jackson campaigned for president as a self-made man." Previous descriptions were filled with controversial statements which have been corrected. “Andrew Jackson’s life was colored by struggle, conflict, and aggression.” The Washington Post says it now drops the omniscient judgment it is making which has caused controversy and quotes Jackson giving his own self-analysis: “’I was born for a storm, and a calm does not suit me,’ Andrew Jackson reportedly told a friend. This kind of omniscient judgement is seen at the National Portrait Gallery on Woodrow Wilson. It said- “Wilson is most often remembered as a champion of liberal values, but recent scrutiny has drawn attention to his regressive actions with regard to women’s voting rights and segregation in the government, as well as other violations of civil rights.” Is this fair to Woodrow Wilson who laid some of the basic foundations -for what was to come later with the efforts of Franklin Roosevelt -in setting up the fair conditions for working men and women in the industries of the day, the essentials of the modern economy? New wall text says Wilson supported the 19th Amendment guaranteeing women the right to vote. But it could have said more as these presidents from George Washington and Jefferson,Lincoln to Teddy Roosevelt, Wilson, FDR, Truman, Kennedy/LBJ, laid the foundations of the modern society and economy we have today, and its democratic parliamentary process, industrial development, higher standard of living than the rest of the world. One such laggard is the entrance to the Smithsonian Exhibition in Washington DC where Benjamin Franklin's efforts and achievements do not receive the recognition and admiration of the Nation's future generations of young people, with statements of this kind including race relations. It is not stated that Ben Franklin was the President of the Pennsylvania Society for the Abolition of Slavery. And little is shown about the 6 difficult 6 week voyages across the Atlantic ocean to London and France that secured the support of France critical for Washington to win in the deciding battles of the War of Independence; and signing the peace settlement with Britain that set up this glorious experiment with democracy that is ours now for 250 years. The current zeal to see things only from today's lens puts everyone at risk from the founding fathers to the eminent writers of America. For instance the media tends to exalt contemporary writers and ignores the writers that set America apart for its uniqueness and being exceptional for much of its 250 years. Too much of this mistaken view only makes one miss the significance of 250th anniversary of the Declaration of Independence, and what it means to the people of the world on different continents Asia, Africa and Latin America. Whitman and Longfellow are forgotten and were it not for some brave schools and teachers in public schools left out of the curriculum. Whitman has this to say about Longfellow- "Longfellow brings what is always dearest as poetry to the general human heart and taste, and probably must be so in the nature of things. He is certainly the sort of bard and counteractant most needed for our materialistic, self-assertive, money-worshipping, Anglo-Saxon races, and especially for the present age in America- an age tyrannically regulated with reference to the manufacturer, the merchant, the financier, the politician and the day workman- for whom and among whom he comes as the poet of melody, courtesy, deference- poet of the mellow twilight of the past in Italy, Germany, Spain, and in Northern Europe- poet of all sympathetic gentleness- and universal poet of women and young people. I should have to think long if I were ask'd to name the man who has done more, and in more valuable directions, for America." ...

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The new generation of Communist party leaders that takes over from Hu Jintao and Wen Biao. Chongqing region's party chief, Bo Xilai is one of the leaders expected to be part of the senior communist leadership, along with Li Keqiang as prime minister and Xi Jinping as president. Xi and Bo are sons of communist party veterans from the Long March. Chongqing was the main base of the Communist party in the 1930's and 1940's, as Mao and the communists fought the Nationalists and then the Japanese. Bo has suppressed the influence of Mafia elements in the region, and is campaigning for a place on the Politburo's Standing Committee with a call for a return to Maoist values of "conscientiousness." Chongqing's state companies are supporting a project launched by Bo in 2010 to build 800,0000 subsidized apartments in 3 years, with an investment of $18.5 billion. This comes as income and wealth gaps in the country are widening and housing is becoming increasingly unaffordable for ordinary wage earners....

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As the economy improves in Mexico a new optimism brings people from other countries to Mexico. Government figures in th U.S. and Mexico show as many Americans going to Mexico as Mexicans coming to the U.S., marking a new beginning in U.S. relations with Mexico.

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The new set of sanctions imposed by the United Nations on North Korea would mean the loss of about $1 billion from exports. China's support was won by delaying sanctions on Chinese banks that do business with North Korea. The sanctions prohibit all exports of iron ore, coal, and seafood. Exports of coal to China have come down from earlier efforts, the new restrictions will tighten the sanctions. Two areas that remain are the remittances of Korean workers overseas, for which a limit is set, and the Chinese crude oil exports to North Korea. Experts say this leaves some areas untouched. Chinese banks are critical to North Korea's access to foreign exchange, and oil imports from China are also critical.

 

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A WSJ/NBC News poll taken in Dec. 2015 after the San Bernardino terrorist attack on Donald Trump's proposed total ban on Muslims entering the country, shows 57% of the people surveyed opposed to it, and 25% supporting it. Among Republican primary voters 39% oppose it and 38% support it showing the Republican voters almost evenly divided on the issue, and the proposed ban not affecting Trump's standing with his supporters. About 56% of Republican voters see Trump in a positive light compared to 26% negatively, showing that Trump has strong support in the Republican party. The divergence in views sharpens when considering that half of Republican primary voters have an unfavorable view of Muslims while 79% of Democratic primary voters having a favorable view. In the country as a whole the poll shows about 60% have a favorable view of Muslims.

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A new EU bailout on March 25, 2013, provides the Cyprus government with $10 billion, and closes the second largest bank, Cyprus Popular Bank PCL. The depositors at that bank with deposits larger than 100,000 euros will face large losses. Cyprus had a banking sector about 4 times the size of its economy because of low taxes and lax banking laws to attract deposits from Russia. The largest bank, Bank of Cyprus, will be downsized and large depositors there will also take losses. An earlier plan for a tax of 6.87% on all deposits at Cyprus banks was rejected by its parliament. The EU ministers and negotators rejected an alternate plan to nationalize Cyprus pension funds for a bailout. Analysts estimate the impact on Cyprus will be a shrinking of the economy by about 10% in 2013, and 8% in 2014, after this financial crisis and the EU bailout. The size of the banking sector in relation to the economy is similiar to the situation in Iceland which faced a financial crisis earlier. This shows the consequences of small countries depending on inflated financial sectors several times the size of the economy....

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Ohio governor Kasich, New Jersey Governor Christie, and Florida governor Jeb Bush chipping away at Donald Trump's lead in New Hampshire after Trump's defeat in the Iowa caucuses. The three governors did poorly in Iowa getting less than 7% of the vote combined- Bush 2.8%, Kasich 1.9%, and Christie 1.8%. The more diverse industrial state of New Hampshire compared to agricultural and evangelical voter Iowa provides a different contest in New Hampshire.

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Bob Pittman, CEO of radio company Clear Channel, a veteran from the AOL days, and his plans to reinvent the radio business. Radio now commands 6% of advertising revenues compared to 50% for television. His plan is to push that figure up. Radio advertising was up just 1% to $17.4 billion in 2011, according to Radio Advertising Bureau. In addition to the internet and satellite radio, new streaming music services such as Pandora and Spotify will make this difficult. Clear Channel is also struggling with $20 billion in debt.

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Statements made by Boris Johnson, the new Foreign Secretary of Britain, and former Mayor of London, have gained wide attention in the media.  He has made controversial statements about Obama, Putin, Hillary Clinton, the European Union and written a poem on Turkey's president Erdogan for The Spectator. Theresa May, Britain's new prime minister, is described as making an astute move by making Boris Johnson the Foreign Secretary, as this keeps him  away from the Brexit negotiations, while at the same time including a leader of the Leave campaign in the cabinet.  Foreign ministers of Sweden and France expressed dismay after learning of his appointment. Johnson said of Obama that he was motivated by an anti-imperialist agenda because of "an ancestral dislike of the British Empire," following Obama's recent visit to Britain. Obama's grandfather was a Kenyan porter in British run Kenya. On Trump he says " he is clearly out of his mind," about some of Trump's comments on Muslims. He has apologized for comments on Hillary Clinton. He is in person quite different say people who know him. As Mayor of London he remained popular and helped host the Olympic games in 2012, and setup the city's bike sharing program. He is a prolific author, journalist, and a contributor to the The Telegraph newspaper, with fees of 275,000 pounds a year. ...

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Efforts by Samsung to separate the operations and management of its chip business which sells to many competitors from its other businesses in television, mobile phones and other products. The current CEO of Samsung Electronics Choi Gee-sung resigns and a new management structure is being set in place. The Chairman Lee Kun-hee will play a greater role when the component and consumer product businesses collide. The heads of consumer product divisions in television and smartphones will no longer report to the new CEO of Samsing Electronics, Kwon Oh-hyun. Kwon has managed the chips business since 2008. Kwon joined the chips business in 1985, and he was one of the leaders for the effort in logic chips in 1998.

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The Washington Post points out the astounding fact that given a choice Japanese voters would have chosen as the new prime minister, Seiji Maehara, who has a 40% approval rating in a recent poll. Instead finance minister Yoshihiko Noda was chosen by 398 Democratic Party of Japan legislators. His approval rating? Below 5%! The ruling DPJ has a 18% approval rating, and the Liberal Democratic Party has a 15% approval rating! It is interesting to note that a similiar situation exists in other major Asian democracies. In India the ruling Congress party coalition and the opposition parties are deeply unpopular because of a series of corruption scandals involving both parties. In Singapore the ruling party barely scraped through in elections. Many of the Asian democracies have an aging leadership and a new generation of effective leaders has not appeared to make the transition.

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Last weeks curfew following race riots just added to the distress in New York city, says this report in DW.com. Poorer neighborhoods in New York bore the brunt of the coronavirus. Coronavirus treatment cost $15,000 but many people lacked funds to meet this cost in these neighborhoods.