LyrArc Article Gist
Novartis bought form Nestle SA a 25% stake in Alcon for $11 billion with an option to buy Nestles's remaining 52% holding in 2010 and combine its eye care operations with Alcon's. But there is uncertainty about how this will work out and at what price Nestle will sell as share price of Alcon has dropped. This leaves Novartis in a bind when it comes to other acquisitions as it has to raise and set aside capital to complete the Alcon acquisition. Novartis raised $5.5 billion in debt in February 2009, and $2.2 billion in a bond sale in June, and will raise more capital.

LyrArc Article Gist
Public sector layoffs in Spain in 2012-2013 under the governments deficit reduction plan- as mandated under fiscal compact rules agreed to in the December 2012 eurozone meetings- will worsen Spain's severe unemployment rate of 25%. These public sector layoffs are only now taking place. Upto now local governments had helped offset rising layoffs in the private sector by preserving employment. The result will be a further increase in unemployment in Spain, creating a crisis of large proportions.

LyrArc Article Gist
Seattle has for the third year in a row more cranes in operation than New York. A single family residence rents for about $2600 a month, according to Zillow website, 25% more than in 2013. Seattle added 8750 units of housing, double that of San Francisco in 2017. The higher building rate, 22,000 units approved so far, helps to control the rise in prices for housing. 

LyrArc Article Gist
China announced that it would make its exchange rate flexible, but also emphasized that it would do so gradually. What this means is that China will have a managed floating exchange rate. China followed a managed floating policy between mid 2005 and mid 2008, with a 21% upward valuation during that period for the yuan. During the 2008 crisis upto now the rate was pegged. The yuan was pegged at 6.83 yuan to the dollar. China is now rebalancing its economy so that it is not overly dependent on exports. The idea is to let domestic wages and domestic consumption pick up the slack in the markets of Europe and the USA. Europe is taking up austerity measures, and the mood in the US is shifting towards concern about growing budget and trade deficits. See the groups for "China wages" and "China workers."

LyrArc Article Gist
Sadanand Dhume points out the change in women's fertility rate that will add one more factor to improvement in the quality of life and access to resources in India. This comes as development projects, infrastructure, logistics, is being built in the north at a pace unprecedented in history. Women's fertility rate has dropped below the replacement rate of 2.1 in India. Because of the youthful population with median age of 28 in India population will peak at 1.6 billion in 2050 making India the largest country by population in the world- with one in 6 people on the planet in India. From a fertility rate of 6 in 1960 in India, with each woman having 6 babies, it is down to 3 by 2005 and 2 in 2021. This shows the effect of sustained development over time, which is also evident in agricultural production where India is now self sufficient in food. For many years the Hindi speaking heartland suffered from poor governance and mismanagement of the economy- the region that covers Uttar Pradesh, Bihar and Madhya Pradesh. Uttar Pradesh has a population of 250 million, Bihar 131 million and Madhya Pradesh 86 million, for a total of 467 million about the size of North America or the European Union. It is this region that is now pushing a development agenda today more than any other region in India with the joint effort of both the federal and state, local, governments in a way that is unprecedented in Indian history. Because of the Gati Shakti Master Plan, Atman Nirbhar Make in India Plan, and push for local is vocal, the infrastructure efforts in building roads, highways, airports and logistics, the advances in digitization and use of new technologies, there is an added boost with new synergies in this development effort. A new airport and logistics setup at Noida in Uttar Pradesh will be the largest in Asia, a new Ganga Expressway is planned, and many development projects are being launched in Varanasi, Prayagraj and other cities in UP, Bihar, Madhya Pradesh. Leaders at the federal level Mr. Modi, Mr. Piyush Goyal, and at the state level Mr. Adityanath, are pushing the development projects at a pace that will make these areas the fastest developing in India, and quite possibly the world, in a the next 3-5 years. ...

LyrArc Article Gist
With Democrats controlling 51 votes and 11 Republican votes needed in the Senate to reach the 60 votes for passing aid to automakers legislation, the whole issue remains clouded for now. Politicians of both parties made statements but the reality is that there is not enough support in Congress for aid to automakers. And if the $25 billion that has been already approved for retooling plants for higher fuel efficiency is now released for salaries and operations by congressional vote to change this it still has to pass a poosible veto by President Bush. And Republican opposition is hardening as they call for real changes in how these companies are being run and at the same time some Democrats may also support this position.

LyrArc Article Gist
The media fails to give a clear complete picture of effects, context, concept behind tariffs and AI won't know. Effects on inflation- June inflation is 2.7% compared to May inflation of 2.4%. The central bank head, Fed chairman Powell has not cut rates to gauge the effect on inflation with new data. Powell says the US economy is strong and inflation remains low. US Market access fee-The US and overseas media including WSJ has not pointed out that the tariffs agreed to by Japan, European Union and South Korea of 15% are really not tariffs but a fee these countries and their business sectors in major industries such as autos and machinery, pay to access the US market. DJT, USTR Greer, Treasury's Bessent expect these companies to not increase prices. Fairness: US had 2.8% tariff on cars EU had 10% since 1980's. Rebates will go to some income groups. Rebates- In the one third of products in clothing, shoes etc of the $50 billion in tariffs for first half 2024 where about 5% price increase is passed on to consumers as shown in WSJ report this is likely offset by rebates to certain income groups. DJT says- “The big thing we want to do is pay down debt, but we’re thinking about a rebate. We have so much money coming in from tariffs that a little rebate for people of a certain income level might be really nice.”     ...

LyrArc Article Gist
The irony of the Afghan war is that the same pilots and planes that worked for the Soviet supported Afghan government, that the US under President Reagan supplied weapons and antiaircraft missiles to bring down, are now fighting the American war against insurgents. Antonov aircraft for transport and Mi-35 Hind helicopters, and Afghan crews that flew them are part of the airforce that the US is training and building up. The commander of Afghanistan's air corps is a formerMiG-21 pilot. By 2016 the 32 aircraft airforce is expected to grow to 120 aircraft at a total cost of $5 billion.

LyrArc Article Gist
Companies like P&G and Walmart in Mexico, and Lever Brothers and Cadbury in India, are taking developing markets seriously and going after the low price points for products; selling in areas away from the large cities. See the links to Nestle,P&G and Walmart. Cadbury is adding another element, by investing in the growing of cocoa in southern India, to have access to a cheaper supply to meet those low price points. Cadbury Dairy Milk Shots, are pea sized chocolate balls with a sugar shell to protect them from the heat. This product was launched this year. It sells for 2 rupees or 4 cents for a five gram packet. The low price makes it accessible to more people. For Cadbury emerging markets are crucial for new growth, and affordability a critical way to go after this market. Emerging markets account for 35% of Cadbury's sales and 60% of the growth. The potential is huge considering India's low per capita consumption of chocolate. Half of the people in India have never tasted chocolate in their life. And India's total chocolate consumption is $465 million compared to $4.89 billion in the UK. Growth has been at about 20% for the last 3 years. Cadbury controls over 70% of the chocolate market and 30% of the confectionery market in India, with combined sales of $338 million, according to AC Nielsen. Nestle is next with 25% of the chocolate market. To keep prices low the company is moving factories to lower cost locations and improving its supply chain. It has setup 20 nurseries in southern India, from where saplings are sent to nearby farms for cultivation. Cadbury provides the saplings, technical expertise, and advice on where to get free government assistance in fertilizers. This is called the Cadbury Cocoa Partnership and has planted 5 million saplings in India in 2008. Another 7.5 million saplings are planned for 2009, and already Cadbury imports only half of its cocoa needs. Local coca costs 30% less because of a 30% tariff on imports....

LyrArc Article Gist
Italy's political scene is fragmented with two far right parties one the League under Matteo Salvini with a base in the north and the other called Brothers of Italy, under Giorgia Meloni with a base in the south. In Italian politics of the last decade popularity of a party lasts on the right or the left remains for 3-4 years before fading. In sequence after the fading away of Berluconi's party, voters swung to the socialist party, then the party of Beppe Grillo a comedian called Five Star Movement, followed by the League and Salvini on the far right, and now Brothers of Italy. At no time is any such party having at the height of its popularity having more than 20-25% support. Brothers of Italy under Meloni is the newcomer with 23% support mostly in the south, Rome, Palermo, Sardinia.    Brothers of Italy is different from Salvini's party as Meloni is staunchly pro-EU and supports Italy taking a strong stand on Ukraine. The withdrawal of Salvini from the national unity government led by Mr. Draghi, former head of the European Central Bank, and formed during the pandemic, led to its collapse last week. Meloni benefited by being the main party in the opposition during that time, so that it is not clear that if she forms a government after the September election whether Italy will still have a stable government. The difference between Salvini's League with connections to Russia and Meloni's EU positions means far right politics is itself fragmented and the socialist parties are within a point of the Brothers of Italy. Mr. Berluconi's Forza remains a fringe player with 8%. With 200 million euros of EU assistance Italy decided to form a government under Mr. Draghi in a kind of national unity government during the pandemic so that these funds could be managed effectively, and to tackle pandemic related problems. Some of Meloni's appeal may come from broadening her appeal by policies that support nurseries and mothers, the family, and from her working class background in Rome at a time when the pandemic has created serious economic problems for families. Like France Italy is divided with Meloni playing the kind of role Le Pen has in France of being for working class yet facing competition for working class votes from the socialist parties that are close rivals for support. The Five Star and League parties in northern Italy have their own local support base. ...

LyrArc Article Gist
Controversy about whether bringing back a revamped Ford Explorer is a good idea. Ford's Farley thinks Americans might still consider an Explorer with high fuel economy, getting it up to 28 mpg from 15 mpg. But the evidence is that Americans have soured on SUV's. Consider that during the cash-for-clunkers program more Explorers were scrapped, and by a large margin, than any other model. Sales are down from 450,000 at one time to 52,000 today. To get buyers to look at the Explorer Ford is trying to change the looks from boxy to sleeker car-based crossover , and add high tech features. In fact it is going to be built not as an SUV, but on the same architectural base as the Taurus.

LyrArc Article Gist
This important WSJ report shows how the CDC labs failed to come with the test after contamination of a component and failure of the third part of the three part test components. In the absence of a working test from CDC where delays cost three weeks of February the private labs all over the country and state labs could have developed their own test, yet HHS and FDA required approval for these labs to develop their own test and use it. From Feb. 8 when state and city public health labs detected problems with the CDC test to Feb 29 when solutions were developed including simply excluding the third part of the three component test, and letting labs around the country do their own test, were 3 crucial weeks that let the virus spread out of control. The CDC, HHHS, and the FDA and their managers and heads of departments bear responsibility for these errors. Week after week the delays continued, instead the two component test which detects if the genetic material in the sample is coronavirus material, could simply have been approved at the outset instead of the approval for this given weeks later. The third component of the test checks if the virus mutated, according to this report. There is no explanation why the labs all over the U.S. were not allowed to go ahead on February 9 itself or within a few days after that to develop their own tests once it was clear the CDC test did not work on that day. CDC officials failed to recognize that there was a possibility that they may not be able to fix the faulty third component of the test and the risks if they gave false reassurances. There is also no explanation of why a German designed test was not used once the CDC test failed on Feb. 9, which would be a proper way for action considering that this pandemic had already shutdown parts of China by this time. Alarming also is the mention in this report that on Feb. 22 a FDA official in charge of lab diagnostics  flies to Atlanta where the CDC Respiratory Diagnostic lab which developed the test is located. His boss FDA medical device center director is cited from later information as describing the lab as "filthy" meaning the lab had the potential to contaminate, and going so far as saying that if it had been any other lab it would have been shut down. Considering that investment in public health has deteriorated over the last two decades and that there has been a massive misallocation of capital in the country away from public infrastructure this is appalling. The thought of critical labs for emergency health needs as not being up to high quality standards in the U.S. as a result of two decades of misspending, that this shows, is very disturbing.  This WSJ report is based on interviews with people who know about the testing crisis, and undisclosed emails, correspondence on the issues involved. Community transmission began in January 2020 in the U.S. These delays were costly in February and could have been prevented either by going with the German design on Feb 10 or asking labs across the U.S. to develop their own test, and letting other labs immediately use the modified 2 component test of CDC that worked instead of doing this action weeks later. Mardi Gras on Feb 25 and other places where large crowds gathered in sports stadiums could have been stopped had testing gone forward and shown the true extent of the community transmission in these critical weeks.  First China delayed a U.S. team of experts coming into the country for weeks, and then the CDC, FDA, HHS, failed to get testing started, creating  a false sense of complacency. Two crucial errors outside and inside the country that caused so much damage to America and the world.   ...

LyrArc Article Gist
The U.S. FDIC voted on March 29, 2011, to propose new rules that will require banks to hold at least 5% of the credit risk on securities backed by mortgages. During the mortgage crisis banks were able to sell packages of risky mortgages to investors without having some stake in the loans, leading to speculative behaviours. This proposal was mandated by the Dodd-Frank Act and was voted unanimously at the FDIC. Because the proposal does not apply to securities carrying a government guarantee, which is 90% of the market today, this will not have an immediate impact. Some mortgages are excluded- under one proposal mortgages where a borrower puts a 20% down payment would be excluded, and borrowers would have to meet an income threshold, and be current on all loans. The proposal is a joint effort of the FDIC, and the Securities and Exchange Commission. The idea is to have securitization to occur in an environment where the issuers of securities backed by mortgages have some skin in the game. Securities experts commented favorably on the rule and the proposals. The presence of such a rule would clearly have changed the behaviour of mortgage securities issuers in the U.S. 2008 subprime financial crisis....

LyrArc Article Gist
Allan Blinder gives a spirited account of what he sees in the Paul Ryan Republican deficit reduction plan. He says that with the voucher plan retirees would fall further and further behind the increasing cost of health insurance. With no explicit cost containment proposals it assumes that some kind of miracle will occur for costs to be kept in check- especially as Republicans want to repeal the cost containment proposals in the President's healthcare plan. He asks whether someone is saying, that we have to destroy Medicare so it can be saved. Ryan woulld also turn Medicaid into a block grant, then underfund it and let the states figure it out when they are in a budget squeeze. Blinder points to the estimates of the Center on Budget and Policy Priorities, that show about two-thirds of Ryan's budget cuts would come from programs that serve low and moderate income Americans. And to make matters worse the steep spending cuts go to finance tax cuts that largely benefit the wealthy. He calls this Robin Hood operating in reverse, and coming on top of 30 plus years of rising inequality. David Stockman makes a similiar point on the editorial pages of the New York Times, April 24, 2011; also adding the point that the middle class will have to pay higher taxes for the deficit to be addressed, something President Obama's plan fails to do. Blinder says that the Bowles-Simpson and Rivlin -Domenici proposals attack the deficit reduction problem in a better way, that asks something from all classes and interests. ...

LyrArc Article Gist
India's property market is hit hard with drops of 20-30% expected in the next couple of years. The ruppee is at a six year low against the dollar and the Sensex is down 70% from its high in January. How will consumers respond. Slowing growth will affect countries like China that export to India. And India is only beginning to start on a path of sustained growth as millon of people in India have not been touched by the economic progress and it needs to sustain a high growth rate to help them.

LyrArc Article Gist
Next to Uttar Pradesh 242 million population adjacent Bihar with 128 million is decisive in Indian parliament elections since 1947- 2025 state elections show BJP NDA (Modi) sweeping win with over 203 of 243. Assembly seats. Unknown to most of the world is that this region is the birthplace of Buddhist civilization and culture, that later was part of Asian culture and civilization as it spread to China and Japan. Modi plans to add to Nalanda and other seats of Buddhist ancient universities on the world map with UNESCO listings.  The Indian economy needs 15-20 years of stable government dedicated to rapid accelerated growth with full access to US and EU technologies and capital to catch up with China, the US and EU. The road to this starts with 5 regions- northcentral  region Gujarat/Rajasthan/Madhya Pradesh  (99 seats), west central region Maharashtra (48 seats), northern region Uttar Pradesh (80 seats), Haryana and Delhi region (17 seats) and Eastern region Bihar (40 seats) which together provide  seats in Indian parliament  284 seats out of total of 543 seats in the Indian parliament. For the first time with the win in Bihar the Modi government is now within reach of this goal of being able to govern in a democracy for next 15 years by delivering on infrastructure, cost of living and rapid industrialization and growth of the economy similar to Japan's and China's growth since 1950. The LDP delivered this in Japan, the CCP in China and the NDA under Modi is in the same position today. ...

LyrArc Article Gist
DW.com looks at the representation of women in Indian state legislatures which is quite low at about 15%.

LyrArc Article Gist
The low voter turnout helped protest parties such as the National Front in France and the Independence Party in Britain. The average across the EU was 43% turnout, with turnout in Britain at 36%, Slovakia 13%. Renzi in Italy led the Socialists there to 40% of the vote, and Merkel's CDU got 35% of the vote in Germany. The UMP came in second with 20% of the vote to Marie Le Pen's National Front's 25%, and Hollande's Socialists at 13% in France. In Britain the Independence Party won with Labor and Conservatives in second and third place. There are deep misgivings in Britain for Jean Claude Juncker who is the candidate for EU President from the centre-right European People's Party, which has 213 seats in the 743 seat parliament. Misgivings stem from whether Juncker can deliver on promises for a EU without much of the bureaucratic tendencies for Britain's 2017 referendum. The German SDP party's candidate is also contesting the election for EU president. Next come the centre-left parties of Socialists and Democrats with 190 seats. In the past EU president was chosen not by parliamentary election but by government leaders....

LyrArc Article Gist
Ukraine's central bank says its foreign currency and gold reserves dropped to $6.4 billion in Jan. 2015. The conflict in the east with the flareup in Fe.b 2015 is taking its toll on the Ukrainian economy. The central bank raised interest rates and moved to a freely floating exchange rate in Feb 2015. The currency hryvnia lost half of its value in 2014. Ukraine's currency lost one fifth of its value on Feb. 5, 2015. FactSet figures show the decline was down to 25 hryvnia to the U.S. dollar.

LyrArc Article Gist
Meticulous preparations in France for the Olympics. This report shows Macron at the Olympics Aquatics Centre built at cost of 188 million euros. The budget in 2012 Olympics in London overspent by 200%, France will do it for about 20% overspend, says the Sports Minister. Macron says "Everything is a cause for vigilance and attention, nothing is a cause for worry or paralysis, that is my and our state of mind." When the Olympics open on July 26 this year it will be on the river Seine, with hundreds of flotilla boats. It is a unique effort as even the housing complex was built so that after the Olympics are over the housing could be reused to serve residents of a poorer neglected suburb of Paris. The river Seine is being cleaned up for swimming

LyrArc Article Gist
Britain faces the most acute housing crisis in living history says Angela Rayner, Secretary of Housing. The shortage of homes- 4 million. Private rents have jumped, eroding living standards and creating homelessness. Rayner has introduced a plan to build 370,000 homes a year. This is the first time in decades that this problem is being tackled on this scale, after Tories neglected to do much to address this problem. A similar situation of rising rents exists in the US putting 25% of apartment renters into a situation where over 50% of the household income goes to apartment rental. US president Biden has called for price increases for home rental to be limited to 5%, and Harris has plans for the government to help families where the rental exceeds 30% of household income.

LyrArc Article Gist
Here are the 10 drugs with their negotiated prices for one-month supply: Januvia treats diabetes. The negotiated price is $113 (£103), down 79%. Fiasp, Fiasp FlexTouch, Fiasp PenFill, NovoLog, NovoLog FlexPen, NovoLog PenFill: These are insulin medications, treat diabetes. The negotiated price is $119, down 76%. Farxiga treats diabetes, heart failure and chronic kidney disease. The negotiated price is $178.50, down 68 %. Enbrel treats rheumatoid arthritis, psoriasis and psoriatic arthritis. The negotiated price is $2,355, down 67%. Jardiance treats diabetes, heart failure and chronic kidney disease. The negotiated price is $197, down 66%. Stelara treats psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis. The negotiated price is $4,695, down 66%. Xarelto prevents and treats blood clots and reduces risk of coronary or peripheral artery disease. The negotiated price is $197, down 62%. Eliquis prevents and treats blood clots. The negotiated price is $23, down 56%. Entresto treats heart failure. The negotiated price is $628, down 53%. Imbruvica treats blood cancers. The negotiated price is $9,319, down 38%. ...

LyrArc Article Gist
Indian finance minister Sitharaman announces a new stimulus package "Atman Nirbhar Bharat." This includes an effort to incentivize creation of employment opportunities for people making less than Rs. 15,000 a month ($215 a month), called "Atman Nirbhar Rozghar Yojana, for a period of 2 years. Sitharaman cited stock market rebound and foreign reserves reaching $560 billion to show that along with the government efforts and planned infrastructure the economy would make a robust recovery. Because of India's large informal economy help to street vendors and other small retail is critical in the Indian economy. The finance minister cited the "One Nation, One Ration Card" which allows street vendors and other retail merchants to access foodgrains from FPS of choice in 28 states and union territories in India. This is part of the effort to build demand and upward mobility in the economy. The names given for these efforts or yojanas are unique- PM SVANidhi stands for PM's Street Vendors Atmannirbhar Nidhi. Atmannirbhar is the overall plan for self reliance in the economy and the prime minister Modi has pushed for buying Made in India, to promote jobs and technology + capital accumulation in Indian manufacturing. India took a blow from the coronavirus with close to 9 million infected by the virus and lockdown in March. By September 20 the daily cases reached 100,000, and by November 10 the daily cases have dropped to 44,000. Social distancing and mask wearing are widely accepted in India. India has other advantages in the large pharmaceutical industry and access to drugs at government regulated and low prices as part of the planned effort after independence in 1947. Other aspects of Indian life are cultural preference for vegetables and fruits in the diet, and spices, herbs in cooking, yoga practice, which are anti-inflammatory and promote healthy living.  With the largest population in the world the region in the Indian ocean comprising the countries of India, Bangladesh, Pakistan, Burma and Indonesia, former parts of the British and Dutch empires, is a region where the coronavirus posed a great threat to human life. An early carefully orchestrated lockdown by prime minister Modi  helped with the message in March that India faced a singular choice - between going back 21 years in development or controlling the coronavirus in 21 crucial days. The setting up of the direct transfer of money to bank accounts  of farmers, urban street vendors and lower income people in rural areas by giving everyone a bank account under a government plan early in the first term of the current administration enabled it to send aid directly when coronavirus hit the country. Other schemes included cooking gas for women in rural areas who depended on firewood for cooking. These schemes and sanitation infrastructure setup under the Clean India campaign, helped India build an element of resilience when coronavirus hit.  The government plan to remove interstate barriers to commerce and integrate tax system collection at the federal level, bringing parts of the informal economy into the formal economy, have increased revenues that now finance an infrastructure plan that hopes to match the one in China over the next decade.   ...

LyrArc Article Gist
Carlos Tavares runs Stellantis the company that combined the operations of France's Peugeot, Italy's Fiat and America's Chrysler right out of his living room in his Lisbon, Portugal home one week every month. He is a believer in the advantages of hybrid work model and says most of the 75,000 workers at the company can work remotely most of the time.The quality time that is generated in this new work model that allows life balance and getting fresh air walks outside is needed when you consider that auto companies such as his are embracing world of electric cars- Stellantis will have 75 models of electric cars by 2030 In this interview with the WSJ shown here he says the fact that one is giving back high quality time that otherwise goes to commuting means you get more time during the day. Carlos Tavares says remote work is an opportunity to recreate a better life balance. He doesn't see any risk in it at all. He sees how hard people are working, harder than they did before, and says giving back one half hour or two hours of quality time actually helps the process of getting good work. Look he says after a long day of remote work people need that time to go out and have a walk for an hour just to refresh one's mind, because the work was so intense. Tavares asks why shouldn't we trust each other? He believes it is the only way to go. Asked about his own work routine for remote work.He says it is the Portuguese routine of  7 am to 4 pm or 5 pm and then an hour out for a walk. He has a small desk in his living room, and he is sitting there with his iPad, grandkids are going by but nobody sees them. Does he miss the face to face contact? He does says Tavares. He still sees other employees as he does go to the office. What about mentoring for junior  employees? This does not have to be five days a week, you may want coaching one day a week, what you don't want is someone on your back five days a week. For Tavares it is all about the quality of time that is used. On company culture the much abused word Tavares makes some good points. If you say this is the culture and hand it to somebody then how do you get that creative mind to exercize his own judgement, how do you get diversity of thinking. Tavares is forthright and honest here- he says if I give you a culture and put you in that box I will get it wrong, and by killing the valuable diversity of thinking I will make it counterproductive. Actually with French, Italian and American operations under one roof and employees of 170 nationalities there is a value in appreciating the value each employee can bring. Practices at Stellantis- Tavares says if you want your people to be in game shape or in great shape mentally don't call them or email them on weekends, so that they can use the weekend to recharge themselves. He even apologizes for calling on a weekend. Or if you email your people tell them to not respond till Monday. ...

LyrArc Article Gist
It will require more than one term for Labour to put right the terrible damage done by the Conservatives says this report in The Observer, after local elections in Britain show Conservatives down to 26% of the vote.