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As it grows into a significant player in mobile advertising with about 35% of all mobile advertising, Facebook is looking for ways to put news content on its site. Earlier efforts were less successful. The Ice Bucket Challenge showed some publishers the risks of using a social media platform for news content. With Facebook users spending most of the summer posting videos of people getting water poured on them to raise funds to fight ALS, less links to news sites were shared with users. An initiative called Social Reader in 2011 with the Washington Post was designed to create a sort of newspaper for Facebook, but fizzled out in 1 year after readers found any post opened going to all friends creating a spam effect. Another problem is that news stories are slow to appear on mobile phones. Instant Articles is the latest effort by Facebook to publish news content on its site. Users would not link back to the news website but stay on Facebook. It makes news websites dependent on Facebook in the long run, say news publishers. They are wary of this because economic arrangements such as Facebook giving 100% of the money from ads posted against an article, can change over time. As of March 2015, according to Parse.ly analytics firm, Facebook was the source of 27% news traffic to all news sites, Google 22.7%. Editors of news sites now write headlines in a way that are optimized to appear higher up in search results....

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This WSJ article provides a detailed account of the positions of Clinton and Trump on Wall Street, the financial industry, banks, Dodd-Frank, regulatory reform, 6 weeks before the U.S. presidential election.

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Make no mistake president Biden is saying it is America's, and India's turn to reinvent the semiconductor industry with government capital support, and with the zeal and inventive capabilities of the US and India. This interview by Ben Cohen gives a glimpse of how Morris Chang now 92 years sees the founding of Taiwan Semiconductor in 1985 in retrospect in 2024. He talks about his early life in the US as an immigrant from China after 1949 and his work at Texas Instruments learning about the semiconductor industry. In the 1980's Japan was the rising industrial nation in semiconductors. By 1985 Intel which dominated memory chips faced challenges in quality and cost and cheap capital from Japanese capital markets encouraging exports. By 1988 Japan took over the market. What Morris Chang is not telling is that Chang already had the Japanese example in 1985. If Japan could do it on all three fronts quality, cheap capital with government assistance, and ten year effort Chang and Taiwan could do this and accomplished this which it has done. ...

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Five of eight unions in the German Confederation of Trade Unions DGB have increased membership. There is a shift to younger members as older workers retire. Membership is more engaged than ever before. More unions are taking up the issue of wage increases after workers were accomodative during the pandemic and Ukraine war. DW.com shows graphs of German workers having lost 18 days due to strikes coming ninth in the developed economies compared to 92 days in France, Canada 78, and the US 9 days. Cost of living action is seen as needed by workers for fair wages. There are 1.8 million open jobs and workers are now getting more confident to ask for better working conditions and higher pay, say experts. This is also happening in the US with president Biden's support. The problem is that only 50% of jobs in Germany are covered by collective bargaining agreements designed to ensure that companies pay decent wages. The EU directive in 2022 set a target of 80% for collective bargaining agreements. This makes it harder for unions yet the unions and workers are taking up the work with enthusiasm.   ...

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Over 100 women scientists are part of the Chandrayan moon missions of Indian space agency ISRO. Many are leader of project teams and head key parts of the scientific efforts of ISRO. Prime minister Modi says the moon mission shows the strength of women or 'nari shakti' and the potential of the younger generation of women for careers in science and technology. About 25% of the 16,000 employees of ISRO space agency are women, and Modi says "they will inspire women for generations to come." Women make up 43% of graduates in STEM scientific fields, yet when it comes to being part of scientific institutes or universities this drops to 14%, an imbalance that prime minister Modi and ISRO women seek to address. DW.com looks at the work of women in the moon, mars and solar missions including Ritu Karidhal, Nidhi Porwal, Reema Ghosh, Kalpana Kalahasti. Kalahasti is deputy project director and has overseen the satellite imaging that will be done from Chandrayan 3. Reema Ghosh worked on the "Pragyan" rover that is now exploring the moon's surface. ...

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China's effort to tie Vietnam and Malaysia to its economic system- will it work? China has trade worth $982 billion with 10 neighbors in South East Asia compared to trade of $786 billion with EU and $688 billion with US.

Some of that $982 billion is product shipped to Vietnam by China, assembled there and shipped to the US. This is why DJT/USTR put 46% tariff on Vietnam, now reduced to 10% for 90 days till negotiations. President Xi of China visited Hanoi, Vietnam, to sign 45 bilateral cooperation agreements to bind Vietnam closer to China's state run capitalist system. At the same time premier Lam of Vietnam is seeking negotiations with US and has talked to president Trump. What is going on? Vietnam hope to have ties to both US and China. Will it work?

 

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A major shift in public opinion happened between 1990 in the public's perception and tolerance of gay people and gay marraige. Support for gay marraige in Journal/NBC News polling shows young people, especially people 18-34 year old, were leading the way. In this group support for gay marraigne increased from 47% in 2009 to 57% in 2012, going up to 74% in March 2015. The increase is also shown in suburban residents, political independents, Midwesterners and Hispanics. A key factor in the change is that many people now know of one person in their work or personal lives who is gay. Technology, television and internet media also helped changed attitudes. In 1990 7 of 8 Americans said sexual relations between the same sex were wrong. In 2004 only 3 of ten Americans supported same sex marraige. A vote in Maine shows the dramatic shift- in 2009 same sex marraige was rejected by 53%, in 2012 53% approved it. The change in attitudes is faster than happened for miscegenation, which took 30 years after the Supreme Court ruled against anti-miscegenation laws to reach a point where a majority of Americans approved marraiges between black and white people. The Supreme Court's 5-4 decision on June 25, 2015, now makes gay marraige legal in all 50 states, and strikes down bans in Michigan, Ohio, Kentucky, and Tennessee. Yet there are a significant number of Americans who do not favor same sex marraige especially in southern states such as Texas, Kentucky, South Carolina, Tennessee, Alabama. A Pew Research Center poll shows 73% of white evangelical Protestants do not approve of same sex marraige. Other groups who do not favor same sex marraige in the Pew polling are conservatives and persons born before the post World War baby boom. ...

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US- China trade relations 2025 and XI's rare earth minerals export restrictions response to US tariffs. DJT resonse was 100% tariff on China from 57%. After meeting Xi in Busan, South Korea, after the APEC meetings, US settled on 10% reduction in tariffs from the 57% tariffs on Chinese products down now to 47%. The 100% tariff was withdrawn by DJT and China's Xi settled on withdrawing restrictions on exports of rare earth minerals. The fentanyl tariffs are still in place and the WSJ editorial says not much is likely to happen on fentanyl action by China to stop exports of fentanyl that reach the US through Mexico. China says it will take in soyabeans exports. US signs agreement with Australia to develop alternative supplies of rare earth minerals. The WSJ says for tariffs action to work US should not tariff allies. Yet broad tariffs action was necessary as partners Japan, South Korea, Taiwan and the EU, Canada and Mexico were also nations that created an unfair trade situation for the US. The US took action on all nations that take unfair advantage of free trade concepts to benefit them which also add to the credibility of tariffs as effort to restore fairness in world trade.  ...

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Stephen Bosworth was appointed by Hillary Clinton as U.S. Representative for North Korea Policy. He is one of America's best diplomats who served in several postings overseas before becoming Dean of the Fletcher School of Law and Diplomacy, Tufts University, Medford, Massachusetts. Prof. Drezner points to the work done by Bosworth in keeping dialogue with North Korea alive, till a solution can be found. He also cites Chinese analysts who say pressuring China comes from a worn playbook, that China would not agree to reunification on the Korean peninsula, to bring U.S. influence right up to its borders. South Koreans have been wary of reunification because of the decade long experience of integrating East Germany. As a result new solutions need to be found and the valuable work of diplomats like Bosworth is badly needed to keep dialogue alive for a solution to be found.

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New information shows a crisis is developing in higher education as student debt passes $1 trillion with the unrelenting rise in the cost of college. Higher debt levels is leading to higher droput rates. According to think tank Education Sector, 30 percent of college students taking out loans dropped out of school, compared to 25% ten years ago. And work can be a large factor as students take parttime jobs to lower the loan burden- half of college dropouts attributed dropping out to work, according to a 2009 study by Public Agenda. It also adds another burden to the productive potential of the U.S. economy. The director of the Center on Education and the Workforce at Georgetown University, Anthony Carnevale, estimates the cost to the U.S. economy at half a trillion dollars in terms of skills not available for increasing economic output and income lost for dropouts.

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Claudia Sheinbaum's father was a biology professor at UNAM, her mother a chemical engineer. She studied physics at UNAM (Universidad Autonomo de Mexico) and did her dissertation for doctoral work comparing energy use of the US and Mexico at Lawrence Livermore Laboratory in Berkeley, California. She returned to the faculty of engineering at UNAM in 1995. In 2000 she was appointed energy minister in the Mexico City government by the city's Mayor Lopez Obrador.  From 2018 to 2023 she was Mayor of Mexico City and a close associate of Lopez Obrador who supported her for president in 2024. Mexico limits presidents to one six year term. This period was overshadowed by the migration crisis with the US, building of the Border Wall by Trump, the negotiation of the new trade agreement with the US and Canada, the pandemic and its impact on the poorer classes in Mexico. Obrador attacked corruption in Mexico that had become entrenched under previous parties to bring good governance. Under Obrador Mexico brought millions out of poverty. Sheinbaum's sweeping election win shows that Obrador is one of the most popular presidents in the world. Mexico has an opportunity to bring tens of millions more into the mainstream economy under Sheinbaum. As a neighbor of the US Mexico stands to benefit from a diversifying supply chain for the US that includes Mexico and India that will boost Mexico's manufacturing, create jobs and increase economic growth. ...

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Americans Save Early and set aside for savings 10% of your pre-tax income, is the advice to ensure a safe and healthy savings retirement. This is absolutely critical. What the government can do is to ensure that incomes keep uo with inflation with fair wages in industry. It also can and should protect Americans from unexpected medical costs by ensuring that all Americans are covered by health care and for catastrophic situations. Then it is the task of Americans to build a culture of careful saving that their ancestors had and considered a essential part of virtue. For this to help build savings for retirement the government and the Federal Reserve together- as Biden and Powell have shown one with capital investments to build a strong economy and the other by protecting savings and cost of living action- must ensure that no financial crises take interest rates to zero or 1-2%. At interest rates of 5-6% for returns this helps build savings for retirement. For this to happen banks have to go back to their traditional work in the economy and no speculation risk, and Silicon Valley go back to inventing and not a culture of capturing capital allocation in capital markets and paying little in taxes. A new culture would put government in its right place to ensure that it plays a significant role in building manufacturing and science and technology in the US as president Biden has done through government investing in infrastructure and renewable energy, chips and science, and in education, healthcare.  ...

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How the new marketing approach for drug companies and Pfizer in particular is affecting how Pfizer is marketing an anti smoking drug. the approach is measure and careful and mindful of all the difficulties in making it work for patients including the psychological aspects of smoking addiction.

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This WSJ report shows how the debt ceiling negotiation were conducted and the process that made it possible to reach an agreement since the State of the Union address by president Biden on February 7, 2023. It started with Biden getting unanimity right on the floor of Congress during his speech about protecting Medicare and Social Security. The Republican strategy was to pass the legislation on spending that did not specify where cuts were to be made yet used 2022 spending levels with a 1% increase. The deal was to be for three years and passed the spending bill with an increase inthe debt ceiling. Till that time the Democrats decided to not enter negotiations.  Biden and McCarthy then had to choose who would represent their side in the long negotiation process that lay ahead till June 5. Progressive Democrats called for invoking the 14th Amendment that allows the government to continue functioning and pay its bills. Biden chose not to take that route. Respect for the other side, a prepared script are an important point in negotiations. To get results something even more important is essential flexibility and a plan, Plan B. Trust began to develop between McCarthy and Biden. Biden and McCarthy did not any time engage in acrimonious description of the other side. At one point when Biden was in Hiroshima for the G7 meetings Ricchetti on the Biden side and Graves on the Republican side began to feel the frustration. Biden decided to fly home early from Hiroshima. He was constantly in touch with his negotiators Steve Ricchetti, a trusted aide, and a cabinet official the Budget Director Shalanda Young. Graves a long time trusted adviser of McCarthy headed the negotiations for McCarthy.  Shalanda Young and Garrett Graves are both from Louisiana and Graves says he used to work out with Young's dad in the same area. This had a positive effect. It also reduced the tensions in the negotiations so that it could be said this was the calmest negotiation from either side that has been seen in the US  for a long time and bodes well for America's future and for its people, far beyond any concessions made by either party.  Biden made clear at the outset what he could accept without leaving it hidden- he would agree to some work requirements, he would not agree to work requirements for Medicaid. Others in the Democratic party conveyed how distraught they were with efforts to impose stringent requirements for federal food aid during a cost of living crisis when the Republican positions ruled out any new taxes on the wealthiest Americans. In the end Republicans agreed to keep spending limits for 2023 for two more years into 2025 when they would be increased by 1%. Democrats offered to cut (Income Tax) Internal Revenue Service (IRS) spending to increase IRS staffing from $80 billion to $70 billion. Biden said "nobody got everything they wanted." It would have to be passed in Congress with the support of moderate Democrats and moderate Republicans, with members holding extreme positions among Republicans and Democrats opposing. The two parties coming together after a long time to meet the real challenges ahead for the American people. ...

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Adam Bryant interviews Barry Salzberg, new CEO of Deloitte Touche Tohmatsu. Salzberg pays attention to tried and tested ideas and this adds to the value of what he has to say about managing and leadership. He emphasizes being prepared, being a little proactive and forward looking, thinking ahead. Its about being transparent and having people reporting to you being comfortable with being open and direct, sharing everything they know. He talks about the importance of being open to feedback, even as in his own personal experience when it takes effort, and takes some maturing to learn from what one hears and what people are saying. Questions he says that reveal more about a person are asking- was there something in the last few years that did not go well, why didn't it go well, and what did you do about it. In work his advice is cascade the things you learn through the organization by sharing it with others. Be yourself not what what someone wants you to be, find that thing which makes you unique, find ways to express this and make your contribution this way. And he says get out of your comfort zone to widen your horizons and see and experience new things. As Salzberg says these things were true in 1980 in his early years and are just as true today in 2011....

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Class of 1977 was first after the Cultural revolution. In 1977 China held its first competitive national university entrance examination since 1965. A period of 12 years of the cultural revolution till 1977 were a lost decade in terms of education and getting the best minds and training them for careers in various fields for development and modernization. The year 1977 with the reinstatement of university entrance exams was remarkable in the outpouring of energy as young people prepared for entrance exams in a period of a few weeks. Textbooks were hard to find, for over ten years most had no schooling and worked in rural areas doing farming work. Students scrambled to find teachers to guide them. 273,000 were admitted to universities that year- only 4.7% of the the students taking the test. In comparison 58% of nine million students in 2007 were admitted to universities three decades later in 2007. Li Keqiang is one of these students who worked really hard to get into Peking University. He is the new prime minister, part of the new generation of leaders in China. Others include Zhou Qiang, governor of Hunan province, Wang Yi, party secretary of Foreign Affairs Ministry, and Jin Liqun, vice president of the Asian Development Bank, filmmakers Yimou and Kaige. and the writer Chen Cun. ...

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The New York Times editorial on the violent military action against Morsi protest camps near Cairo University on August 14. NYT calls for cutting off the $1.3 billion in aid to Egypt. Baradei, Morsi, and the moderates are seen as complicit in letting the military take advantage of the split in the political parties through their failure to reach a compromise on constitutional and other issues. NYT calls it a foreign policy disaster for the U.S. and a tragedy for Egypt to return to military rule. U.S. president Obama is seen as having shown lack of leadership for both Egypt and Syria. The likely conclusion being that the low key approach has failed and the opportunity for a more peaceful Middle East focussed on improving the living conditions of the people in the region has been lost through inaction.

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David Brooks who has covered Joe Biden for decades from his time in the U.S. Senate to Vice President under president Obama, says he comes not from an elite tradition of Democrats such as Adlai Stevenson, but that of Harry Truman, for and of the common man- the "average Joe" in American slang.  Strengths Brooks finds in Joe Biden are his emotional transparency, knowing at any time in interactions what Biden is thinking and feeling. The candour in his conversations. Biden is also like Truman in how spirited he is in defending the common man and his interests in the true Democratic tradition of being for the working class and ordinary people, something lost in recent years. Having lost his wife and daughter in a traffic accident when he was first elected to the Senate, also gives Joe Biden a sense of how it feels to go through this experience. He later lost a son to cancer.  Biden is now the front runner for president. Like Truman Biden has faced criticism for speaking his mind, sometimes awkwardly. Yet as David Brooks points out Biden brings some of the qualities of a Harry Truman, at a time when the mood of the nation has changed and the Democratic Party is returning to its roots fighting for the common man. Harry Truman is thought of highly as American president because of the qualities of simplicity, courage, tenacity, and hard work that he brought to the presidency during the war and during the recovery after 1945. Few people are aware of the fact that Harry Truman returned to the small town of Independence, Missouri, after retiring, at a time when there was no presidential pension, and lived a simple life accepting no favors, without any of the trappings of a former president. ...

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Novartis is taking a new approach to drug research and drug discovery. The old one which was popular in the drug industry was to go directly for blockbuster drugs for large numbers of users, with a long time in the research pipeline because the area of research was largely an unknown. This was costly and becoming less and less productive. Dan Vasella who heads Novartis, is taking a different approach which comes from his understanding of medical science as a physician, in an industry run by accountants, lawyers and business people. This is to go after wellknown molecular pathways identified by Dr Fishman at Harvard in his research, and do this by taking on problems in diseases that afflict small numbers of people. These drugs have some established medical science to work with, and the research work takes a shorter period. Once the drug proves its effectiveness in one illness, it is tested for other illnesses that afflict a large number of people but which shares some of the same underlying phenomena that cause the disease in the two situations. Dr Vasella stumbled on this approach after the development of the drug Gleevec by Novartis. Gleevec was originally approved for a rare blood cancer, but has now shown to be effective against six other dieases. Gleevec brought 3.7 billion in revenues in 2008 for Novartis. In 2002 Vasella made a bold move to discard the old drug development model. The basis of this approach was to go after new drugs that were desperately needed and where the genetics of the illness were well understood. Whereas pursuing rare dieases is considered foolhardy by most drug company leaders, Vasella's idea is to use the common genetic underlying arrangements for that drug to go after other diseases that would be good prospects for the now proven drug. The known genetics makes it possible to complete the research in a shorter time. In 2009 Novartis has 93 drug candidates in the pipeline, 40% more than 3 years ago and 80% of Novartis' drugs last year made it from early testing to late stage development. This was a 60% improvement over 2005. The new approach fits the current regulatory climate, with regulators concerned more about safety, and Medicare and Medicaid and other payor less willing to pay for treatment with modest benefits or with uncertain outcomes. The approach had to be executed in terms of organization and staffing. Vasella moved the R&D global research operation from Basel to Cambridge, Massachusetts, and spent $4 billion on the move. He recruited a renowed researcher and cardiologist at Harvard University, Dr Mark Fishman, who had done research on the genetic mutations in the cardiovascular systems, to run the center and set the new direction for global research. Fishman convinced Vasella that medical research should focus on a small number of molecular pathways- the complex suquences of interactions among chemicals, proteins, and larger cell structures in the body that are behind all illnesses. Says Fishman, there are 24,000 genes in the genome, but only a few dozen pathways conserved through evolution. Fishman's theory is that you find all the links in a pathway and then locate the signals that can turn the genes on or off to develop medicines for illnesses. Bercause disease after disease share a common pathway, the knowledge gathered can then be applied across that region with more accuracy and directly, to address a range of illnesses. Fishman's approach means marketing and sales no longer make the decisions. There is a new method for doing things. Fishman focusses on clinical data and insists that commercial analysis comes after sufficient clinical data. A major restructuring in 2007 led to shedding 1260 sales and marketing jobs, as clinical science now takes precedence and medically trained scientists take senior leadership positions. The new approach is being used for a drug developed for Muckle-Wells syndrome. Computer simulations are shortening the time to late stage trials. The drug has applications for Type 2 diabetes and severe arthritis. The whole process will take many years, as its a sea change for the industry and for Novartis, a fresh approach when the approach used by the pharmaceutical industry for so long is failing. An oral drug treatment for multiple sclerosis is being developed along these lines. Afinitor. approved by the FDA for kidney cancer in March shows potential in six other diseases, including lymphoma where Afintor shrank tumors by 50% in one third of the patients in a trial. ...

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Pearson appears to have managed the downturn well by reducing ads percentage of revenue at FT from 50% to 30%. One way was to increase the importance of subscription and content revenues by increasing subscription price to pound 1.80 from pound 1.50. Its education business which sells textbooks and educational instructional tools like online learning and assessment are holding up, and its Penguin book division is also doing well. Pearson's competitors McGraw Hill faces aturnaround problem at Standard and Poors, and Houghton Mifflin is struggling with high debt.

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Desmond Tutu who died yesterday, was one of the three leaders with Nelson Mandela, and De Klerk who shaped a new South Africa with an attitude of rebuilding through reconciliation that stands out in the recent history of Africa and the world. South Africa's potential and the lives of the South African people are better under a framework that brings all communities together for unity and cooperation. After years of fighting Apartheid policies Tutu headed the Reconciliation Commission when De Klerk and Mandela crafted a way out for South Africa from segregation and international isolation. After failures of the ANC under Jacob Zuma, Desmond Tutu called for changes. He also was the first to point out the failings of African countries that descended into misrule and oppression. Tutu was as important to South Africa as Mandela and Klerk in the way he made democracy work by calling it out when it failed to live up to the ideals. Born in 1931 he witnessed the transition of African countries into free nations, with some failing to achieve the aspirations that drove the freedom struggle. The son of a teacher he followed in his father's footsteps after graduating from the University of South Africa at a time when black schools suffered from crippling lack of resources.  He went to King's College, University of London on a scholarship, and earned a bachelor's and master's degree there. Living in England helped free him from the self-contempt that results from racism, he says in his 2006 biography. Like Gandhi the years spent in England gave him a sense of what could be learned from this experience in shaping the future. He returned in 1975 and fought Apartheid using Gandhi's methods of non-violent non-cooperation. In 2025 South Africa will have completed 50 years since that time and can look back at how far it has come even with the shortcomings. And the steps that can now be taken for modernization as India and other nations move forward to show democracy can effectively deliver on good governance and economic progress to fulfill the aspirations of the people for a better life. ...