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Rebecca Long-Bailey, a Labour MP describes labour's program to end in-work poverty in the UK over 5 years. About 5 million people face in-work poverty in the UK which has become worse during the pandemic with little help from the Tories.

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Clicking on the light bulb shaped icon at the bottom of Amazon's app takes one to a feed that shows short videos on products buyers can purchase. This type of short video format is becoming popular on Amazon and Google in 2022-2023.

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The failure of the SEC under Gary Gensler to protect ordinary Americans who are mistakenly trusting their savings to cryptocurrency firms is seen as a major flaw in his running of the agency by former SEC officials and other SEC experts. The gaps in SEC enforcement and this weakness is the subject of this report in the WSJ. The cryptocurrency firms are not registered with the SEC and do not follow SEC rules hurting ordinary Americans putting money there. Mr. Gensler was made head of the SEC in 2021, and the SEC has been looking at crypto firms since 2017 but failed to come up with a regulatory model in 5 years.

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48 storey Rittenhouse and 47 storey Arthaus are new condo development high rises in downtown Philadelphia. Highs in storefront occupancy, hotel occupancy, return to work pushed by Comcast and other companies are giving a new resurgence to the city center in Philadelphia. It shows that the city centers that have locals living in the area are doing better than city centers dependent mostly on commuters for activity. One advantage of Center City, Philadelphia is that there are 70,000 residents compared to mostly commuters in midtown Manhattan, Boston Financial District, Chicago Loop downtown areas. This means that even with remote work people are up and about in the city. 7000 workers for Comcast in office towers in Center City are also encouraged to come to the office.

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The struggle for the Donbas region is now centred around the town of Bakhmut with about 50-70 casualties a day and an effort by Russian infantry to advance to the once tree lined town of 70,000. The Ukraine war drags on into the cold winter of 2022.

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High levels of covid and RSV in the US are leading to health authorites saying wearing masks is needed to prevent it from spreading. Los Angles is likely to introduce a mask requirement for indoors by the end of December 2022. Carrying hand sanitizer and keeping wipes with you is a good idea because RSV spreads through touching infected surfaces. Vaccination for flu and covid is also a key prevention action. As most people are no longer wearing masks in the US the practice of wearing masks is becoming a good idea once again.

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Huge transfers of wealth and income were taking place in the US in the last 10 years leading to some of the glaring wealth gaps and unequal distribution of wealth and income in the US. This has threatened the social fabric of American society when combined with other factors such as unjustifiably high healthcare costs, and the shipping of American manufacturing overseas. This WSJ report looks at the transfer of wealth to the financial industry of at least $600 billion but much more than this since 2014 from interest rates of near zero. As over half of the population in the US concentrated at the lower end of the income and wealth spectrum does not invest in stock markets the policy at central banks designed by economists and the financial industry has engineered outcomes that have damaged the social fabric of American society. Distributed throughout the lower income groups, along with Made in America manufacturing, and other policies that takes working families and quality of living into account would have prevented the hugely unequal distribution of wealth and income in society. The pandemic marks a watershed period that has revealed this glaring weakness from long supply chains, to policies that were not good for working families, the impact on climate change, leading to the kinds of changes and investments in working families that are being made by the Biden administration today. ...

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Apple is introducing end to end encryption or Advanced Data Protection. It expects iPhone buyers to set up recovery contacts, recovery key, and to turn on this feature of Advanced Data Protection. Joanna Stern talks to Apple's head of Software Engineering  Craig Federighi in this video that shows how this works. Stern asks why this took so long.

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Closer economic cooperation between the Saudis and China expected after this weeks visit by president Xi to Riyadh. 20 initial agreements worth $29 billion will be signed.

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US housing prices are seeing a decline in 2022 as a result of the Fed's interest rate increases even though there is no extra supply of housing. Renters are staying away from high mortgage payments at the higher rates, and families with a 3% mortgage are staying put rather than risk making larger mortgage payments for a new home. Fed's Jerome Powell has this to say- "You had housing markets go up at very unsustainable levels and overheating. Now the housing market is going through the other side of that and hopefully coming out at abetter place." This is more like the drop in demand for housing in 1979 which revived in 1983 after the Fed eased up on increasing rates, says the WSJ.

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Chinese president Xi Jinping is learning from the country's Covid experience in the way Biden and Democrats learned from their initial push for tighter restrictions in 2020-2021. Most covid restrictions, quarantines, testing is being lifted in China and efforts are being made to stabilize the economy hurt by frequent lockdowns, and a new path is being taken that responds to the Covid lockdown fatigue of the people.  This will lower Chinese growth below the central bank forecast of 3.3% for 2023, yet it also offers a learning curve for the Chinese leadership and new government that was put in place after the CCP party congress in 2022. This may be experimental in the short run but offer benefits for China and the world in the long term. For the first time it means China's trade tensions with the US are turning the corner in a way no number of tariffs and rhetoric could do between the two countries. The evidence- China's exports to the US have declined by 25% already in the last few months. Exports to the EU have declined as well by 11%. China's trade surplus in November 2022 showed a drop to $70 billion from $85 billion in October. ...

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Extreme German dependence on Russian oil and gas that happened under the administration of Angela Merkel and the high oil prices today from a a lack of development of alternative renewable energy resources created the situation that provided the financing for Russia's war in Ukraine. This is now unwinding as the European Union and the US set a price cap of $60 for Russian oil. This cap will in future reflect the cost of production of oil in Russia among other factors, and the lower demand for fossil fuels as renewable energy production is accelerated quickly, and the inflation fighting efforts of the US central bank. Gradually the mechanisms and environment is being created for an end to the conflict in Ukraine.

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How lockdowns affected Apple's contract manufacturing through Foxconn in southern China and how this led to policy of relaxing the tight restrictions and embarking on a new policy path that responds to people's lockdown fatigue.

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Just as Democrats and Mr Biden learned from the experience of earlier lockdowns in the US and opened up the US economy in 2021 and 2022, China is now taking its own steps to move away from its earlier policies that affected the economy with frequent lockdowns and tight restrictions. There are some risks but in the long run this could get China to a better place after the people's fatigue with lockdowns that is similar to what happened in the US getting the US to where it is today.

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The performance of Morocco, Senegal, Japan and South Korea, show a new popularity of soccer in Asia and Africa, and teams that can compete with the best in Europe.