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The $2 billion losses at Chase highlights the need for completing the Volcker Rule with language that prevents banks engaging in risky trading activities. Former FDIC chairman Sheila Bair says precise language is needed to clarify the defiinition of hedging after the losses by a single trader's complex hedging bet in London. Individual traders have too much authority in existing trading arrangements to make complicated bets in finanial markets. Large losses were incurred by Swiss bank UBS when an individual trader in London made risky bets in 2011, raising all sorts of questions about the bank's risk management systems.

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President Trump says of aide Stephen Bannon- "he's a friend of mine."  In the same news conference he added that Bannon had joined the Trump campaign late, and that "we'll see what happens to him," in August 2017. Bannon has come under criticism for the chaotic situation in the White House. Bannon's use of the Alt-right news outlets to criticize national security chief Gen. McMaster is now an issue in the administration. Bannon's job remains uncertain, says this NYT report, yet he continues to have some influence in policy the president uses to appeal to the Alt-right part of his base of support. Rarely has a presidential aide ruffled so many in the White House, and rarely has a president used the Alt-right in this manner.

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About half of Conservative voters voted for Reform UK in 2024 election says this Ipsos report in 2024 showing how Britain voted by ethnic, gender and education. This brought Reform UK to 17-19% of voters over the age of 45. More recently reports show three in ten voters saying there are too many asylum seekers in their neighborhood and this makes up 70% of Reform UK supporters as reported by Ipsos. This has brought the UK Reform vote from about 17-19% to double to 34% in 2025 polls. Labour is only at 25% and Liberals at 11% and Conservatives doing poorly.

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Shinichi Sasaki, Toyota Executive Vice President in charge of Quality, the chief Quality officer at Toyota, explained at a press conference that Toyota has a good handle on individual components quality but not enough on the quality of components as they interact in environmental conditions inside the car. Moisture could collect on gas pedals inside the car in certain environmental conditions and cause the car pedal to get depressed and stick. There is a lack of research he said on how how accelerator pedal systems were affected by certain climate conditions and how moisture could collect inside the pedals and cause overacceleration. This caused one of the 2 recalls made by Toyota recently. Total recalls worldwide for faulty pedals and floor mats is now around 8.1 millon units. Mr Sasaki said that Toyota's research has shown that the gas pedal's electronics were not at fault. The fix Toyota has come up with is to ship a part , a shim, a small piece of metal which when inserted into the gas pedal assembly will prevent it from being stuck in a depressed position. Sasaki fears a global hit to Toyota sales especially in the U.S. market....

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Reporting for this highly informative article on wind energy development in Brazil was done with a grant from the Pulitzer Center for Crisis Reporting. Forero gives a detailed account of the setup of about 400 huge wind turbines larger than the size of a Airbus 380 in a windy area of Bahia state by a Brazilian company Renova Energia. It is an area that experts say is nearly perfect for the steady wind needed. Brazil has increased its wind generation capacity to 3% of its energy generation in 3 years since the first auction for companies seeking to build wind farms. By 2021 energy planners in Brazil see this going up to 10% of its energy generating capacity. New limits on the generation of hydropower is shifting the focus to speeding up the development of wind energy by the government of Dilma Roussef. State owned banks provide loans to companies like Renova Energia. New technology from French, Dutch, and Spanish companies with advanced sensors that shift the position of blades to adapt to wind conditions, the size of windmills of over 400 feet, and 1.6 megawatt turbines, make wind energy a realistic option for Brazil's expanding energy needs growing at 5% a year. French energy company Alsthom has a plant outside Salvador, the capital of Bahia state, to manufacture windmill components. This helps meet Brazilian government requirements for a certain percentage of local manufacuring of components....

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The problems of council housing debt and social homelessness in UK as social housing is not being built at all. A whole generation of children that is in lower income groups is being left out.

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This article in Zeit Online tries to provide the facts behind Merkel's decision made in a period of 24-48 hours to let refugees marching towards Austria from Keleti station in Budapest, Hungary, September 5, 2015, to enter Germany. Other reports pointed out that too little time was given to make the decision and that it was purely done on humanitarian terms. And made during that short window of time, in which a decision had to be made to turn away the refugees going on foot for hundreds of miles or to turn them away. Given Germany's earlier history the choice was a difficult one but erred on the side of being humanitarian. Though Merkel's selfie with a refugee at a hostel on Sept 10, would seem to suggest otherwise, Merkel has said her decision was made with so little time and little opportunity to understand all the ramifications of this. It was not an open invitation to refugees to come to Germany. 

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For 2 decades now Estonia has followed the principles of Milton Friedman in freeing up its economy to be completely open. Now the economic downturn has to lead to a shft in policy. The infusion of $3.4 billion euros from the EU from 2007 to 2013 as cohesion funds to even out disparities between rich and poor countries in EU should help and some business people say Estonia could emulate Luxembourg or Swizerland by looking for its own niche say in high end technologies and knowledge intensive production and in design.

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Is aging linear or non linear happening in spurts as life's events, a trauma, adversity, immunity levels covid infection or other infection take place in people's lives. Research leans to molecular changes that are linear for a white and then shift to nonlinear and in a spurt change the outcome of one's health. Living well involves being aware of such spurts and counteracting them with improved lifestyle behaviours in food, exercise, sleep and recreation.

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The effect of an 80% drop in natural gas prices on incomes of farmers in rural areas in Pennsylvania is shown here. Farmers have leased rights to drill for natural gas under their farms for checks that are now smaller as pries have dropped. There are fewer jobs as a result of reduced drilling. Fracking is an issue in Pennsylvania and both candidates have supported fracking. Harris looks at it from a bigger perspective for cost of living action, and fossil as a transitional fuel as investments are made in renewable and solar. Farmers are not naive and question whether "drill baby drill" is the answer to their problems. Here in Pennsylvania there is also the need for transmission so that the natural gas can be transported to other regions to generate electricity. 

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Two of three obese people live in developing countries. About 29% of the global population is obese in 2013, according to the Institute for Health Metrics and Evaluation at the University of Washington. Between 1980 and 2013, obesity increased by 47% for kids and 27% for adults in the global population. Dr Murray of IHME says no country was the exception. Diet and inactivity are the principal culprits. About 37% of world's men and 38% of women are obese. Obesity increased rapidly first in developed countries, becoming noticeable by 1980 and slowing since 2006, and now is growing fast in developing countries. Germany is a surprise No. 8 on the list. The U.S. No. 1 ranking tells a lot about the misguided priorities of living in the U.S., lack of education on healthy eating and healthy living, and not putting healthy habits at the top of things to do above making more money. An extreme case is South Africa where 42% of women are obese. The most obese countries are by rank - U.S., China, India, Russia, Brazil, Mexico, Egypt, Germany, Pakistan, Indonesia. Middle Eastern and North African countries have high obesity rates for children. The study is funded by the Bill and Melinda Gates Foundation....

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Early warning about the danger of a small group of individuals deciding the future of an important technology that has dangerous potential if placed in a few hands. With the dangers ever present that the pace of development is outpacing regulatory effort, and the profit enabling a few corporations to stifle regulatory effort in America's flawed democracy. Sam Altman is seen by the board of OpenAI as "hindering the efforts of the board to carry out its responsibilities." The tension of the board with Sam Altman comes from the thinking at the board that the rapid expansion of commercial offerings was not giving time to consider the safety implications of the products rolled out. Watching Joanna Stern of WSJ interview Sam Altman and Murali Murthi gives the impression that Altman was  moving too quickly and Murthi was saying the right things but lacked the experience and capacity to tackle AI's vast responsibilities. This also stems from the fact that what young Stanford and other tech graduates in their early thirties have done in the last 2 decades ends a chapter in America's tech history. AI is an entirely different technology which requires the involvement of major parts of America's whole technological and scientific community and its society, not just a few individuals. This is also the lesson from the pandemic for virus research where not just the Cambridge, Massachusetts community needed to be involved, but vast parts of America'a health and medicine scientific community and the American public. A million lives were lost in the pandemic in the US alone, and millions all over the world. It is a lesson that should never be forgotten- that technology can get out of control. ...

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Biden calls ending the war in Afghnistan a "wise decision" for the American people. He says in his foreign policy speech that "it is about ending an era of major military operations to remake other countries." A Pew Research poll shows 54% of American adults support the decision.  In a sense the decision had already been made. Biden cited the Doha agreement president Trump signed a year ago with Taliban that called for the release of 5000 Taliban prisoners which included most of the top commanders, and no agreement on the future of Afghanistan. The decision had come much earlier than that when the wars in Iraq and Afghanistan from the period of George Bush were rejected by the American people for the cost and lack of purpose during the presidential election of 2016. That period marked the rejection of policies set under Reagan, Bush and Obama for starting American involvement in the Iraq-Iran conflict first on one side and then on the other side. All the time precious resources that were needed for infrastructure and services in education and healthcare were diverted to these wars, impoverishing America and also Europe. Looking beyond the words thrown around for political advantage both Trump and Biden and the American people, had decided to put these wars behind them 5-10 years earlier. Biden said assertively that America had made a tragic wrong turn, that was all he could say about Reagan, Bush, Obama policy. In the meantime he stated something else was happening- the US was losing its position in the world by wasting its resources in these wars that do not serve the interests of America. "There is nothing China and Russia would want more in this competition than the US to be bogged down for another ten years in these wars."  Biden was saying that he had the courage and tenacity to make a decision that was the right one and a wise one for America against all the transient opinion of people who lacked a grasp of what was happening to the American people- the increasing impoverishing of America in both rural and urban areas. And a similar situation in Europe. It was time to take a new turn, close this chapter, and write a new one in American history, brighter and with new sense of hope. ...

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Competition and rivalry turned bitter between two Chinese construction equipment makers with origins in Changsha, Hunan province. The latest episode involves a journalist charged for defaming Zoomlion's reputation with articles in the New Express newspaper. Zoomlion is owned by Hunan provincial government and was founded in 1992, Sany was founded in 1989. Sany moved its offices to Beijing after it said it was harrassed by provincial officials in Changsha. In 2012 Sany outbid Zoomlion for the acquisition of German concrete pump maker Putzmeister Holding.

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The European Union and Britain are looking for new ways to harness innovation for growth in Europe's economy, building infrastructure, and to promote the kind of upward mobility and jobs that promotes quality of living for everyone.