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The 4% rule for retirement spending was devised by financial planner Bill Bengen in 1994. It forms the basis for retirement spending for many years with variation between 3 and 4% for income to last about 30 years from a portfolio of savings. WSJ looks at the 4% rule at a time of high inflation.

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The different opinions of Fed Governors of Kansas City and Boston show the divergence of opinion that is being heard by the Fed chairman Jay Powell as he plans smaller interest rate increases in 2023. Susan Collins of the Boston Fed is concerned about the effects on unemployment. Kansas City Fed's Esther George is concerned about the Fed not staying in the fight against inflation long enough. Powell says "We wouldn't ... try to crash the economy.. and then cleanup afterwards. I wouldn't take that approach at all." The difficult aspect of the interest rate increases is that it takes about 1 year to know the full effects of rate increase.

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Emma Tucker Editor of The Times will take over as Editor of The Wall Street Journal from Matt Murray. Emma Tucker started at The Financial Times before moving on to the Times of London as deputy editor, and Editor of the Sunday Times.

Ms. Tucker led The Times of London from 2020 leading to digital subscriptions increasing from 320,000 to 450,000 by Sept 2022. Matt Murray joined the Dow Jones at its Pittsburgh bureau in 1994, before serving as executive editor and deputy editor in chief. He started the audio podcasts, and a series on Facebook's negative effects on young women and TikTok's algorithm can introduce adult content to minors. He took the digital subscriptions from 1.59 million to 3.16 million as Editor of WSJ. Murray's strategy was for the WSJ to remain focused on its core strengths in business, finance and economics even as it pursued general interest readers by simplifying the reading.

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The lack of affordability for housing is a big problem in the US today. WSJ looks at how this happened. What makes this worse is the homlessness of older population which is covered in a separate article by WSJ shown on these pages. 

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The London Stock Exchange will buy $2.8 billion of Microsoft products over the next 10 years including its Azure cloud service. Microsoft will in turn take a 4% stake in the London Stock Exchange. In this way the tech and financial companies will come together. It brings one having a growing batch of financial data together with another company that has cloud computing and financial software. 

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Two Stanford Law professors and their son who headed FTX a cryptocurrency firm that went into bankruptcy with large losses to investors form this cautionary tale in the WSJ on the plight of cryoptocurrency firms and the exposure of unknowing investors.

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Companies that have consistently ranked high in the managing across several criteria in WSJ/Drucker rankings include Microsoft, Pfizer, P&G, Apple, Accenture, HP Inc. Focus on innovation, employees, in addition to customers is important to these companies.

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The ECB is set on a policy course of  much higher rate increases when the US Fed is tapering down its rate increases with declines in inflation. 

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The 58 year old P.T. Usha, with multiple gold medals in running at the Asian Games, is elected president of the Indian Women's Olympics Association. This is a critical time for Indian sports athletes with building of better sports facilities, and support of athletes by the Indian government. India has lagged behind in the Olympics and is trying to catch up. Only a small number of medals were won at Olympics by Indian athletes.

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The port of Los Angles has a more than 25% decline in the number of containers that are moving through the port. The Port of New York and New Jersey has now overtaken Los Angeles as the main port of entry for shipping containers to the US. Ports that are gaining include Savannah in Georgia, Houston, and Charleston in South Carolina. Bottlenecks, supply chain disruptions and fears of a dockworkers strike in the west is leading to changes in how goods imports enter the US. 

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Improvement in the managing of India's trade deficit with China. Merchandise exports from India to China increased from $11.93 billion in 2014-2015 to $21.6 billion in 2021-2022, an increase of 78% over the last 6 years. Imports from China from $60.41 billion in 2014-15 to $94.6 billion in 2021-2022. The trade deficit with China during 2021-2022 is at $73.31 billion compared to $44.03 billion in 2020-2021. Most of the goods imported from India were in equipment and intermediate parts to meet the needs of electronics, telecom and power sectors in India. 

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Showing how far Congress has fallen behind in making the laws that regulate the cryptocurrency companies to protect the public, the SEC relies on an old 1993 law written 30 years back. The SEC has come under criticism as more losses to investors take place and crypto currency companies collapse. Gary Gensler's efforts at the SEC and the failure to effectively regulate the industry and protect the public are the subject of WSJ reports this month.

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Kylian Mbappe is from Bondy, one of the northern suburbs of Paris. Ayoub Simour and Angelique Chrisafis give this report from Bondy and the Banlieu immigrant communities of France that have been wrongly stigmatized. Mbappe grew up here, with a Cameroonian father who was a soccer coach and Algerian mother who was a professional handball player. This is one of the poorest areas of France and one of the youngest. Both parents were youth workers. Football has put a smile on every face here after the troubles of the pandemic. Mbappe says "our neighborhood is an incredible melting pot of different cultures." Mbappe tells Sports Illustrated that he learned "values" and "respect" in the banlieu.