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Jawaharlal Nehru's Aug 15, 1947 speech announcing India's freedom at "the stroke of the midnight hour." "A moment comes which comes rarely in history," said Nehru.

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BYD shares have fallen sharply as sales of its gasoline powered cars have declined in the Chinese market, declining by 43% from the high by Feb. 8, 2012. Part of the problem is that sales have shifted to foreign brands. BYD pushed ahead with developing electric car technologies, but the market appears to be moving in the direction of gasoline-electric hybrid cars, in which the Japanese manufacturers have the lead. BYD sold very basic cars at the low end of the price range. In 2009 and 2010 the government provided incentives with reduced sales tax for cars with small engines and subsidized sales in rural areas, which helped BYD sales. These program were phased out. In 2011 restrictions on cars went into effect for Beijing, with license plates for the municipal region reduced by two thirds, to limit the automobile congestion in the city. The license plates were distributed using a lottery system., This further shifted purchases to the higher price end made by foreign brands. BYD now sees the future sales potential in hybrid gasoline-electric cars and has changed its strategy....

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Economy Minister Peter Altmaier presented the latest outlook for the German economy, saying that the economy would contract less than expected. The contraction for 2020 is expected to be 5.8% instead of 6.3%. Contraction was 10% in the second quarter. The forecast of 5.2% in 2021 was lowered to 4.4%. Some crucial sectors such as tourism and aviation will take time to recover. 

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French president Macron reversed a tax on the wealthy with real estate valued at above 1.3 million euros when he took office in 2017. This  tax on the wealthy was put in place 3 decades before under Francois Mitterand and helped fund welfare. It was seen as a measure of solidarity of the wealthy with the poor. This is now likely to be reversed as it is a key demand in the current yellow vest protests in France protesting the increase in the fuel tax. In carrying out a pro-business agenda Macron is now stuck with the label of favoring the rich, especially in the plan to strip job protections in state owned companies such as the national railways. The fuel tax increases are now pushed back 6 months to have public discussion.

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U.S. president Obama visits Germany in April 2016 just as Chancellor Merkel is under pressure in Germany for her stand supporting refugees right to stay in Germany. Merkel has modified her position to accomodate public opinion by controlling the flow of refugees through a treaty with Turkey that returns refugees back to Turkey.

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How the efforts of parts suppliers to get back some of their pricing power is affecting car manufacturers efforts to reduce costs from purchasing parts. Collins and Aikman's decion to shut down a Ford plant on a pricing disagreement shows that parts makers at the urging of hedge fund investors are becoming assertive on pricing issues. Bankruptcy of many suppliers is also making it difficult to achieve cost reductions for Ford, GM Daimler. This will affect their efforts to reduce costs.

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Only 5% of Australian grain farmers trust Archer Daniel Midlands, according to a survey in the Land newspaper. Grain farmers are launching a campaign to have the government stop a deal for ADM's acquisition of GrainCorp. GrainCorp controls about 60% of the Australian grain transportation and storage system for wheat, barley, canola and other grains. ADM's past history of corporate actions has created a sense that the company may not be a reliable partner for Australian farmers.