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In India 70% of smartphones sold in 2015 cost less than $150. Apple's market share in India is really small at about 2%. Apple iPhone sales were up 56% in the 1st quarter of 2016 over the same quarter in 2015, according to CEO Tim Cook. iPhones cost about $300-$1000 without a data plan in India reducing the size of the market. In May 2016 Apple applied for approval from the Indian government to sell refurbished or certified iPhones at lower cost. In India the best selling iPhone is the older 5S which costs about $300. It makes up 50% of iPhone sales in India for 1st quarter in 2016, according to Counterpoint. Apple has no model at the low end, as the SE model will cost even more at $500. The Indian market is growing at 26% in 2016 over prior year, making it the next largest market after China. Another approach Apple is taking is seeking approval to open its own retail stores and sell online. A waiver has been given by the government for using locally made parts. Apple's high prices and margins remain a significant barrier in opening up the Indian market, when lower priced Korean and Chinese smartphone models offer attractive options to price conscious Indian buyers....

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Speaking to journalists after a meeting with the Irish prime Minister Leo Varadkar, the European Council's president Donald Tusk warned of a "special place in hell" for politicians who promoted Brexit "without even a sketch of a plan." Tusk was also critical of Jeremy Corbyn saying there was a leadership void at the heart of the Remain movement. "Today there is no political force and no effective leadership for Remain."  Tusk said there are no alternative arrangements that could replace the backstop, saying "the backstop is needed as a guarantee, A safety net is not a safety net if it can be destroyed by one party." The backstop is a way to keep peace in Northern Ireland. The Irish prime minister and Mr. Tusk circulated a "thank you card" from a Dublin family thanking the EU for its solidarity. The card said Ireland was drawing strength from the words of EU leaders. It said "Britain does not care for peace in Northern Ireland.  To them it's a nuisance." ...

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The rugged and tenacious spirit of Ukraine's farmers is shown in this DW.com report as they plant grain in wartime and under constant threat of Russian bombs and artillery in the 2022-2023 growing season.

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Bread and bakeries have a special place in Germany, France, Italy, Spain and most of Europe. DW.com looks at one bakery in the city of Bonn, Kugel's Bakery with 13 employees and the concept slogan "Where there's only bread" (Da wo's nur Brot gibt) written on each and every white packaging bag. There are 10,000 bakeries in Germany many of them small family run bakeries that specialize in bread. Click on original article to see this report. Max Kugel takes over his parent's bakery, but first visits Vancouver, San Francisco and London, to learn new concepts and invests in new special equipment with a $200,000 loan. The new equipment lets him switch from one type of bread to another easily and keeps his costs down. He does not depend on Ukraine grain imports as he uses local organic grain grown in Germany. With 10,000 bakeries total sales in Germany are $15 billion for bread, and Germans take in 123 pounds of bread and baked goods in a year per person. ...

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Michael McConnell, was Assistant General Counsel of the Office of Management and Budget from 1981-1983. He is now a professor of constitutional law at Stanford University. Here he tries to throw light on how the budgetary process that is required by law, and which makes the formal budget proposed by the president available for public scrutiny, was circumvented through a sequence of events starting in February 2011. The Budget Act of 1974 sets specific deadlines and a process for generating revenue, setting spending priorities, and setting the debt limit. The President first submits his administration's budget by the first Monday in February. The Congressional Budget Office has until Feb. 15 to score the budget using identical metrics for all proposals for a consistent scoring. The budget President Obama put forward in February did not take into account the growing deficit and was rejected by the Senate 97-0. The President proposed a new plan in April 2011, but the proposed budget was so vague that CBO Director Douglas Elmendorf said he could not score it. The subsequent efforts in June and July 2011 were carried out in closed door negotiations between senior Republican leaders and the Obama White House. This subverts the original intention of the law. The Budget Act says that both the House and Senate hold hearings on the proposal, with testimony from the administration, "national organizations" and the "general public." Transparency, openness and accountabilility are key aspects of a proper process that is democratic and prevents the parties from engaging in blame and competing claims. The closed door negotiating sessions and the lack of a concrete written budget proposal from the President has turned the current budget process into an effort by each side to see how it can best position itself for the 2012 presidential election. ...

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Sprint's agreement with Softbank to sell a 70% stake to Softbank for $20.1 billion. Sprint has lagged behind Verizon and At&T in offering Long Term Evolution, or LTE, data service. It is struggling with $21 billion in debt and needs the additional investment to support investment on the next generation technologies. Softbank was working on reducing debt estimated at $13 billion and building its LTE network in Japan. The deal for Sprint Nextel therefore comes as a surprise with the additional debt Softbank is taking on, even though Masayoshi Son, the CEO of Softbank, is known for taking on large deals. Softbank shares declined 17% after the first information came out and have dropped an additional 5%. Sprint shares were up 14%.

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Under the Volcker Rule setup during the global financial crisis of 2008-2009, banks total investments in private equity, hedge funds and similar higher risk funds cannot exceed 3% of high quality capital. During the financial crisis investment banks were highly leveraged leading to the collapse of Bear Stearns and Lehman Brothers, and the precarious financial condition of other banks. Goldman has pared down about 60% of such investments. Remaining are $4.8 billion in private equity investments, $1.2 billion in real estate, and about $1.1 billion in both credit and hedge funds. Regulators have given the bank till July 2017 to comply. As banks recovered from the impact of the crisis, the tearing of the social fabric that happened with high unemployment in some groups especially older white men, has remained six years after the crisis- as evident in the U.S. election campaigns this year. As a result the mood has shifted for tighter regulation and both party platforms, Republican and Democratic, now call for reinstatement of the Glass Steagall Act, which separated commercial banking from investment banking as part of the lessons learned from the Great Depression. Volcker, was chairman of the U.S. Federal Reserve during the Carter administration, known for taking a tough line against inflation. He was the principal driver of the move to restrict banks from risky activity, and faced considerable opposition from banks during the 2009-2013 period when the rule was being formulated.  ...

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India makes the largest deal for commercial aircraft in aviation history by buying 470 planes from Airbus and Boeing. 250 Airbus jets and 220 Boeing airplanes. American Airlines ordered 460 planes in 2011. WSJ says based on list prices the Boeing orders is for $45.9 billion and the total order is for $85 billion. The White House announced the Boeing deal. The Airbus deal was announced by pm Modi and France's president Macron. The purchase was made by Air India. India is now the fastest growing aviation market in the world.

Airbus increased deliveries by 6%, and Boeing by 41% in 2022, as air travel and aircraft sales increased following the pandemic.

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Britain's Keely Hodgkinson, 800 metres gold medalist at Paris, talks about the pressure building up, her experience after an injury, the slump and her recovery in 2025. After a difficult period and an injury while going to London for her MBE, she says she is chilling, and has gained something from the experience to let go off the pressure and just be herself.

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Alitalia may be sold to private companies, to Air France, KLM or to Italian banking companies. Italy's government wants to sell half of its 49.9% stake . Alitalia has a market value of 1.33 billion euros. Any buyer will have to keep its Italian identity, job guarantees, and keep national routes. Any buyer buying a 30.1% stake has to make a mandatory bid for the rest of the shares according to Italian rules.

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Peaple points to the challenge facing new Royal Dutch Shell CEO, Ben Van Beurden, with low return on capital below 1% on U.S. projects from high costs and declining prices. Shell's 2013 price earnings multiple is at 8.1, well below Chevron and Exxon. Van Beurden will become the CEO in January 2014. He worked for Shell for 30 years, with 10 years in the LNG business.

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The Battle of Gettysburg in 1863 was a pivotal battle in the American Civil War and the Gettysburg address was conceived in prayer by Abraham Lincoln. There were times when Lincoln felt that he needed to pray for God's help in these crucial weeks of the Civil War when it would be decided through divine intervention whether a nation so conceived ("that all men are create equal and are endowed by theit Creator with some inalienable rights") can long endure. "That this Nation under God, shall have a new birth of freedom." The act of Prayer when it matters most is now lost on a new generation.

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Shell Oil's higher hurdles for investments in low carbon alternatives even as it stabilizes oil and gas production are called into question in this report in WSJ. In addition Shell will distribute 40% of cash flow back to investors. This poses risks for responsible action on climate change.

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The U.S. Federal Reserve gives banks 2 more years to sell their stakes in private equity, venture capital and hedge funds under the Volcker Rule. This extends the deadline for divestiture to 2017 from 2015. The reason given is that it will reduce the disruptive effects of large divestitures on markets.

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In Nevada sell federal land to cut housing costs in 2025. Some estimates show that 1.5 million homes can be built on Bureau of Land Management land within 2 miles of Las Vegas city limits. In Nevada 80% of the land is owned by federal government. After the Mexican American War in 1846 Nevada was transferred to control of US government from Mexico to end the war and it stayed that way.

Us president DJT supports using federal land and so does his Interior Secretary Don Borghum.

DJT says he will “open up new tracts of federal land for large-scale housing construction, and you’ll get it for a much lower price.” He would “create special new zones with ultralow taxes and ultralow regulations,” to create jobs.

“We’re going to open it up. We’ll start with a small portion. You’ll get it going, and then we’re going to open up large portions of land.”