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An exceptional look at burnout and stress at work in the Guardian newspaper. In the UK 526,000 workers were affected by the burnout epidemic, suffering from stress, depression or anxiety, in 2016-2017, according to Health and Safety Executive. More women are affected than men, and more in professions in healthcare, social care and education. Longer work hours are part of it till pressures at work became intolerable for people shown in this report. Problems remain masked at the beginning and act in a kind of mission creep. Experts say it is important to see this as the result not of sick individuals unable to cope but of ailing organizations that have created workplaces where burnout can occur, where blame takes the place of collaboration, and support is limited or non existent.

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Shell will become a wholly British oil company and drop Royal Dutch from its name. Headquarters and tax residence will be shifted to London, England. Shell's move is intended to give it more flexibility to adapt to changes in the world energy sector with the effects of climate change on the use of fossil fuels.

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WSJ provides a look into the electric vehicle manufacturing plants of Rivian and Ford Motor in the US as they scale up quickly to increase production.

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As Neil Irwin points out in the NYT the effects of the steel tariffs announced by president Trump are negligible on the U.S. economy- the impact of $30 billion in steel imports and $17 billion imports of aluminium on a $20 trillion economy. As Commerce Secretary Wilbur Ross pointed out in a television interview it is the impact of a fraction of a penny on a food can, and tenths of one percent in the price of a new car.  What markets when settling down look at is the facts from how situations were handled from tariffs on solar panels to action on NAFTA. Twitter comments of Trump have not reflected actual policy as it was carried out as Neil Irwin points out. On tariffs for solar panels this has fitted in with action from preceding administrations says Irwin and also fits in with Trump administration policy to send a message when lower prices subsidized by foreign governments hurt U.S. producers. On NAFTA Commerce Secretary Wilbur Ross and other key economic advisers around Trump have acted along with the calls from prime minister Trudeau and contacts with Economics minister Videgaray of Mexico, to a policy of making some changes to NAFTA, very different from the calls for rejecting NAFTA made earlier by president Trump.   ...

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Each year the Shangri-La Dialogue in Singapore convenes to bring together Asian prime ministers, defense ministers, experts and journalists to discuss issues relating to Asia such as tensions on the Korean peninsula, terrorism, nuclear proliferation. In previous years the keynote address was given by prime ministers of Japan, Singapore, Australia, Thailand. The 2018 keynote was given by prime minister Narendra Modi of India. U.S. Defense minister James Mattis in his address described the free and open approach of the U.S. in its Indo-Pacific strategy contrasting it with China's policies. In Modi's address the key pieces of the Indian approach were outlined- a free open and inclusive space "from the shores of Africa to the shores of America," that includes the Indian and Pacific Oceans. Modi called Indo-Pacific not a strategy or a exclusive club, but a principle of freedom on the world's oceans based on rules and norms, respect for international law including for overflight and navigation.    ...

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NYT's Brad Plumer looks at the assessment of a report from REPEAT (Princeton), MIT, and Rhodium on how well the Biden Climate laws are building renewable energy- how well this is working to tackle climate change goals. The goal set by BIden was a 40% reduction over 2005 greenhouse gas emissions by 2030. Electric car sales are moving at a pace that is consistent with the goals but renewable energy instead of being at an average of 46 gigawatts of carbon free electricity for 2023 and 2024 is falling short as it was at 32 gigawatts carbon free electricity for the US in 2023.

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Of the $12 billion in planned improvements for NY subway infrastructure this year only $2.9 billion will be spent in 2024. Congestion pricing is expected to generate $15 billion which is allocated to fund NY subway infrastructure. Lawsuits from the Governor of New Jersey and others now affect how much money goes into the subway improvements. This is not for a modernization of the NY Subway which would cost much more. It shows how year after year essential infrastructure is being starved of funding even as money gets allocated to non essential investments by capital markets in the US, and waste is rampant in capital market investments.

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South Korea will share an increased part of the cost of stationing US troops and bases in the country. This was a key demand of the Trump administration as it sought to reach agreement on fair shared cost of the defense costs. South Korea paid $913 million a year and the new amount is likely to be at least over 15% higher.

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Former employees of Google and Facebook have joined together to form The Center for Humane Technology. It plans to fight tech addiction in schools. A ad campaign is planned with $7 million from Common Sense, capital it has raised, and $50 million in donated media and airtime by DirecTV and Comcast. The idea is to educate students, teachers and parents about overuse of tech media leading to depression, other dysfunctional health issues. 

In one report even Tim Cook, Apple CEO says he realizes the dangers and is trying to discourage such use by his nephew. Some early investors such as Roger McNamee say they are horrified at what has happened with overuse of social media, especially health effects for a generation of school children and young adults. 

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Apple's plans to make the new iPhone 14 in India. Its efforts to bring NPI or New Product Introduction processes to India so that new iPhones can be built in a short time. This would mean not replicating production processes existing in China but setting up new ones from scratch. About 95% of iPhones are made in China. Only about 7% in India by year end which Apple plans to increase to much higher levels by 2025, as some of the supply chain for Apple shifts to India from China. The Modi government is setting up new infrastructure and logistics centers in India to prepare for India becoming a key part of the supply chain for the US and the European Union.

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Paul Krugman reviews a book by Robert Gordon, a distinguished American economist and historian, on the improving standard of living for Americans after the war in the period 1940 to 1970. This period brought some of the major changes in the standard of living which have since stalled. Gordon points to the developments in science and technology between 1870 and 1940 providing the largest boost to standards of living as the quality of life improved- especially the conditions in which people lived using modern sanitation, electricity, automobiles, and work saving appliances. The period 1940 to 1970 enabled the spread of this to the country as a whole. The IT revolution's developments occuring between 1990 and 2005 are also behind us. This process between 1870 and 1970, with the followup period to 2000, is seen by Gordon as a one time development in the scale of change and the improvement of quality of life. The future does not hold a similar level of progress in standards of living, says Gordon. Set against the current stagnation in incomes, widening inequality of opportunity, and the political discourse, this review raises important questions about the future. Quality of life potential now rests in improvements through personal involvement in health improvement, improved education, renewable sources of energy, and other ways, which are more soft knowledge improvements than the hard improvements of the past- which may require more personal involvement than in the developments of the last century of progress, with some improvement coming from renewal of the old physical infrastucture using the new technologies available. Just as the developments of the last century required dogged persisitence and effort, these developments will require dogged persistence and effort, with some of the easy stuff currently posing as technological development not qualifying....

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In a high energy game with Liverpool constantly on offense in the second half, the Manchester city Liverpool soccer match ends at 1-1. Kevin Bruyne, Haaland and Foden could not make headway against Liverpool's energetic play.

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US president Biden's 2024 Budget places great emphasis on aid to workers and families in the US and shores up the Medicare hospital-insurance trust fund. He will do this by raising taxes on the wages, investment gains and self-employment income of people making more than $400,000 a year. Additional savings come from increasing the drugs on which Medicare can negotiate prices from 20 to 50 drugs.  Childcare- families making less than $200,000 a year will get subsidized child health care, the lowest income families paying nothing. Housing- Building and preserving 2 million housing units. Series of tax credits to make buying homes more affordable. College education- Reducing the cost of going to education with $12 billion allocated for this. Offering tution free community college. Family and Medical Leave- Federal paid family and medical leave program. Retirees- a $2000 cap on out of pocket cost of prescription drugs for retirees. Reduced taxes for under $400,000 income households- This would be done without increasing the deficits to extend the tax reduction from the 2017 tax cuts to households making less than $400,000 a year.     ...

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Melbourne enters a tight stage 4 lockdown after a state of disaster is declared in the state of Victoria. Curfew is from 8 pm to 5 am. Victoria had 671 new cases daily on one day over the weekend. In Melbourne residents can shop and exercize only within 3 miles of their homes. Only one person from each home can shop and only once per day. Restaurants, bars, cafes, gyms are closed. The new lockdown actions will last 6 weeks.

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Global Foundries was created in 2009 when AMD spunoff its manufacturing operations, including its chip making operation in Dresden, Germany. It is now owned by Abu Dhabi based Advanced Technology Investment Company, after AMD gave up its 8.8% stake in the company and paid $425 million to Global Foundries to be able to source from other companies. The agreement waives a requirement that AMD source wafers based on the new production processes and technology from Global Foundries and allows negotiation of prices. Global Foundries had difficulties in making circuitry that measures 32 nanometres on silicon wafers.