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Trucking company Yellow in the US files for bankruptcy after $700 million in support from the federal government.

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Shohei Ohtani of the LA Dodgers is close to achieving 50 home runs and 50 stolen bases in a single season in American baseball in 2024.

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WSJ's Solomon and Feng look at Chinese developer Country Garden's $100 billion real estate project Forest City located only a short drive from Singapore in Johore State of Malaysia. It owns 60% and the rest is owned by the Sultan and a government agency. It is now abandoned as a failed project with Country Garden failing to make debt payments. This is the kind of project Malaysia did not need, as it diverts precious capital from industrial projects and infrastructure that improve the lives of the Malaysian people. Malaysian development has stalled with governance issues and misallocation of capital for such projects, and no tangible strategy for development.

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A supercomputer called Aurora to be delivered in 2021 to the Argonne National Laboratory would do quintillion calculations per second. Supercomputers offer more accurate simulations of climate changes, solar panels, inner workings of engines.

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Nestle will create a new subsidiary called Nestle Health Science and a research organization Nestle Institute of Health Sciences, "to pioneer a new industry between health and pharma." Nestle sees disease prevention as a big part of healthcare in the future. The new company with an investment of 500 million euros over the next ten years will work to develop new nutritional products for diseases such as diabetes, obesity, cardiovascular and Alzheimer's. After sale of its stake in Alcon unit to Novartis for $28.3 billion, Nestle is almost debt free and can invest in developing new nutritional products without needing a return in the short term.

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IEA shows China in 2030 with 54% of mining and 77% of refining for rare earth minerals- a near monopoly. It is this monopoly that China is now using to negotiate with the US. Rare earth minerals are needed for many advanced technology products and renewable energy. This move by China to strictly restrict access to rare earth was not anticipated by US negotiators. US negotiatons with China relate to China's access to technologies, to the US market, and on the subject of fentanyl coming in from China to Mexico and illegally brought into the US. 

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Germany will provide Ukraine with $200 million for aid to internally displaced people. About 7 million people in Ukraine are internally displaced inside Ukraine. Most of the refugees are women, elderly and children. The internally displaced are in addition to the millions of people who are refugees in Poland and other countries.

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Technology that combines food waste with cow manure to produce renewable natural gas or RNG is becoming popular. Black Rock is buying Vanguard Renewables, a company that does this in Vermont for $700 million and investing another $1 billion for RNG production. Trapping methane emissions is part of the program put forward at COP26 Glasgow.

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The debate in the U.S. Congress about whether pandemic jobless benefits are deterring people from returning to work. Are extra $600 weekly payments affecting the way people return to work. The surge in the pandemic in many states in July could also be a factor. The extra weekly jobless benefits amount to about $18 billion a week and are set to expire unless Congress renews them.

The enhanced payments of about $15 an hour in the U.S. for a 40 hour week amount to $600, before regular state unemployment benefits are added in. Researchers say 68% of unemployed workers receive more benefits than they did working. Some of this added benefit during the pandemic helps people to stay home for work that involves contact with people such as in travel and food increasing risk of spread, which can be a good investment in prevention. In other work such that involves no contact or which can be done from home, there is good reason for incentives for gradual return to work.

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US Secretary of Defense Gates has launched a drive to save $100 billion in defense costs over 5 years. These costs were expected to put back into weapons procurement and other costs. The President's Deficit Commission report of 2010 proposes to apply the savings to deficit reduction. US military spending costs $700 billion a year. Weapons reductions include one version of the F-35 Joint Strike Fighter, and the Army's Ground Combat Vehicle. The deficit panel also took aim at the military health care costs, up from $19 billion a decade ago to $50 billion. And the deficit panel would cut the US military personnel and bases by a third from the 150,000 military personnel stationed overseas.

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Children are the hidden casualties in this pandemic, says the head of UNICEF Ms. Russell. She says about 147 million children have missed about half of their schooling. Children who could read before cannot read, children who could do numbers before cannot do numbers now, says Ms. Russell in this BBC report.

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At this point in May (May 22, 2026) a glimmer of hope appears for settling both the crisis in Hormuz and the Ukraine war. Pakistan, Turkey and China following DJT visit to China may be pushing Iran to lower the scale of the conflict. China's first priority was to be accepted by the US at the Beijing meeting as an equal power with the US, and keen to show its willingness to bear responsibility for peaceful resolution in conflict zones as a sign of its maturity as a world power. Much of this is not shown in the media as it is mostly done behind the scenes in communications that the media knows nothing about. Note that even in the depths of the Cold War during the Hungarian revolution of 1956 and Soviet action in Budapest, the US and the Soviets when their economies were not intertwined as the US and China are today, were still talking to each other to limit the conflicts to low level conflict. Hong Kong takeover, China's actions near Taiwan, China's presence in Latin America, Chinese cooperation with Iran, and Russia on Ukraine, China's economic competition in rare earths, are relatively smaller levels of friction considering 1950's Soviet's and the US. At the same time China and the Us are aware of a new bloc emerging in Oslo in May, where India is merging its economy with the Nordic economies of Sweden, Denmark and Norway, and of the European Union and Germany, creating a new bloc of 2 billion people that can only grow rapidly with India's potential to exceed growth rates of 20% in the 600 million Eastern region for a decade. EU would make the shift to strategic partnership with India displacing the vital role the European Union has played in China's growth and economy. This would create new pressures for Russian president Putin to decide it is time to listen to a friend India and de-escalate lower the level of conflict with an initial peace deal that would lead to more talks on a final settlement. Because Russia would have a harder time tackling both India and Germany at the same time. NYT shows on the same day May 22 a report on Russia and a report by the Swedish Foreign Minister Maria Sonegard that say the elites in Russia and Putin were by January 2026 having very serious discussion to change the administration, bring Igor Sechin as negotiaor to end the Ukraine conflict before serious, possibly irreversible damage, to the Russian economy. Sweden's Sonegard says that between 2020 and 2024 Russian economy declined by 8%, not grew by 13% as official figures show, inflation is much higher than 5% as official figures show, and credit is tightening, bankruptcies expected, growth even with oil prices up down to 0.4% for 2026. During 20 years running Russia Putin's No. 1 priority, his life's mission was to restore, then exceed by a large margin the living standards of the Russian people. Having at such great cost accomplished the goal of gaining recognition as a Northern Power in Europe, having gained much of Russian speaking eastern Ukraine, Putin could wisely with self respect wind down Ukraine conflict for good. The US gains something similar to Northern Power status for Russia in its recommitment to the Monroe Doctrine, with Russia withdrawing from any involvement- and China tacitly doing the same-  in the western hemisphere. With that the US can tackle its own losses that match Russian losses in lives- loss of more American lives than in the Korean and Vietnam and WWI combined to drug smuggling from Mexico, Venezuela, Colombia, and restoring rule of law in Cuba, Venezuela, and through drug cartel free Mexico good governance in Mexico.  ...

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Can OpenAI pay? Does it have $300 billion? These are the questions analysts are asking. Remaining Performance Obligations is RPO's which refer to a company meeting probable targets which are not certain. Oracle stock went up 36% in one day because it was saying it would get thei $300 billion from OpenAI. Now as analysts look carefully at Oracle surge they are saying wait a minute who has this $300 billion. This report in the WSJ says RPO's for Oracle are now up to $523 billion. Oracle stock is now down 43%. Analysts are questioning these outlandish claims. Another claim is from the "circularity" in the AI sector, which means A is connected to B is connected to C. OpenAI expects $100 billion in investment from Nvidia which makes advanced chips, but is it definite? Nvidia says in it's latest quarterly report that "there is no assurance that any investment will be completed, on expected terms, it at all." Note that OpenAI makes hardly any money today and is in fundraising stage- it has expectation to make $20 billion. And the $300 billion where does all this come from? When most people in the Nation are living from paycheck to paycheck there is this wild speculation and mania in the AI sector.   ...

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Glen McGrath the fast bowler from Australia with 563 wickets the previous record for fast bowler in cricket compares Anderson of England to Sachin Tendulkar in India. The only other bowlers in this league are Anil Kumble and Shane Warne. Stuart Broad who got his 500th wicket in Test cricket says Anderson, 38 years, has got better with age and has always inspired him.

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Economic costs of the war in Iran with loss of 2 million jobs inflation at 50% and loans of $300 from government at 18-35% interest for laid off workers. Disruptions in steel and petrchemicals disrupt car and other industries and their supply chains. Closure of Hormuz also affects supply chains across industries.

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First Tesla truck has 500 mile range, center driving position, and fast charging. It is becoming popular with truckers.

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U.S. frustration with China as coronavirus toll reaches 300,000 deaths worldwide. President Trump says- "They could have stopped it in China where it came from. But it didn't happen that way. " Worst hit are countries in Asia and Africa with food security threatened. After the coronavirus he says of the trade deal he signed in January- So, I make a great trade deal and now I say this doesn't feel the same to me.The ink was barely dry, and the plague came over. And it doesn't feel the same to me." Under that trade deal the China agreed to buy $250 billion in additional goods and service for 2 years in an effort to correct a huge trade imbalance - built up on the advice of American economic theorists and experts who advised American presidents for three decades that it was of no consequence - in exchange for a roll back of American tariffs in stages of part of the tariffs. 

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Impact of $100-$138 a barrel oil prices from Iran War on US economy is modest - stable unemployment inflation at 2.9% instead of 2.7% and decline by 4 tenths of a percentage point in GDP growth. This is the view of 50 economists at banks, companies and research consulting gorups surveyed by WSJ March 16-18 cited in both the WSJ and her inthe NYT. NYT says unless the prices reach $200 which is unlikely, there won't be a recession. The reason is that the US is self sufficient in oil needs and exports oil and gas to Europe, and now to India and Japan. In fact in the domestic economy oil producing states in the Permian Basin including Texas, Wyoming, New Mexico and state of Alaska will actually see more growth. US will also generate more revenue from oil exports. US will also be able to leverage the situation to bring Venezuelan production with additional investments in upgrading the Venezuelan oil fields from American oil companies. This will be more attractive at higher oil prices and revenue generated will be sent to benefit the Venezuelan people. What it does affect lis ow income people with long commutes to work in the US. ...

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The dangers to public health from Tobacco use in China are huge. About 1 in 3 cigarettes in the world are smoked in China says the WHO prominently on its site. The result high levels of cancer, lung and heart disease that could be prevented. A similar situation exists in India and South Korea. Asian countries have performed badly in tobacco use and production creating catastrophic public health risks, even countries that have adopted new technologies and caught up with Europe and the US.