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As the U.S. and Eurozone countries manufacturing recovers it remains much slower in Japan and South Korea. Weak global trade means companies cut jobs in July and activity contracted in Japan and South Korea.

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The U.S. Federal Reserve's role as backup lender increased with the pandemic. The U.S. central bank lent half a trillion dollars to counterparts overseas representing most of the emergency lending at the time in 2020. It eased a dollar shortage globally, helped stop a market selloff, and continues to support global markets in 2020. The Fed is now the global source of dollar funding, which builds the role of the U.S. currency a the dominant currency. Countries that benefit from the Fed are Australia, Singapore, South Korea, Britain, Japan and European Union countries. On March 31 the Fed launched a program that let 170 central banks around the world borrow dollars against their holdings of U.S. Treasurys adding confidence.  To understand the dollar's dominant role about 88% of 6.6 trillion dollars in currency trades taking place daily involve dollars according to BIS. By end of 2019 U.S. dollar denominated debt securities and cross border loans reached about $27 trillion up from about $17 trillion in 2010. All the talk of having another reserve currency by other central banks has not happened. ...

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Initially Microsoft will be making a large outlay for TikTok which will affect its margins as TikTok has still to be profitable. The longer the deal is put off the less value for TikTok closer to the September 15 date when the U.S.bans it completely. Tiktok is losing money on about $1 billion in revenues, so is SnapChat with double the revenue base. So that Microsoft under Nadella which is careful to in making investments of this kind needs to consider the impact on Microsoft's profitable business. Only Linked In has been a profitable acquisition for Microsoft, others Nokia, Skype and the possible acquisition of Yahoo have failed badly.

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President Trump says TikTok app would be banned in the U.S. after September 15. He said he had talked to Microsoft CEO Satya Nadella and told him Microsoft could buy the apps U.S. operations but if it does so a substantial portion of the price must go to the U.S. Treasury because of the approval of the deal the U.S. is giving after the review. He told Nadella "Look it can't be controlled for security reasons by China- too big,too invasive. Here's the deal, I don't mind whether its Microsoft or somebody else, a big company, a secure company, a very American company buy it."

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This unbelievable story from Berlin, Germany, where dozens of police officers are injured and three hospitalized trying to disperse 20,000 people gathered to protest anti-pandemic measures. 130 people had to be arrested. 1100 officers had to be deployed to monitor the gathering even though there is a spike in cases in Germany. The gathering was done with people not wearing masks and not social distancing. Berlin mayor Michael Muller said they risked the health of other people. The gathering was a mixture of hard left and hard right supporters in a strange mix with shouting "we are the second wave" as the protest reached the Brandenburg Gate. Police had to use loudspeakers to get people to leave the area. And launched legal action for "non-respect of hygiene rules." Some officers were hit by shards of glass.

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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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Behaviours of young people going to beaches and bars, ignoring social distancing guidelines and not wearing masks is leading to a rise in the number of daily cases in Europe. This includes an illegal rave in a Berlin park. The incidence of coronavirus is now 19.6 per 100,000 people for persons ages 20 to 29 compared to 9.7 per 100,000 for the French population as a whole. Germany has recorded 900 new cases daily, France 1000, and Spain 2000 as a result of these youth behaviours during the last week.

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The Space Shuttle with astronauts Behnken and Hurley makes a sea landing in the Gulf of Mexico after a 64 day trip to the Space Station orbiting the earth. 

After the retirement of the Space Shuttles in 2011 NASA relied mainly on Russia to send astronauts up into orbit to connect with Space Stations. Under the Obama administration two private companies were hired by NASA to operate Space Shuttles SpaceX and Boeing to take astronauts up to the space station in orbit. Much of the work to build the spacecraft is financed by NASA. 

Space exploration was not a priority for the Obama administration after the financial crisis resulting from banking behaviour in 2009.The U.S. under the Trump administration is renewing America's efforts for space exploration for science and out of a curiosity for what lies outside our planet.

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This report shows improvements in the situation for coronavirus in Pakistan. It is still to early to tell how the reopening of the economy is likely to affect the cases for coronavirus. Not enough testing is taking place. The Eid holiday taking place this weekend also could have repercussions later in August with more crowds and gatherings for the religious event. Pakistan has 278,000 cases of infection and 6000 reported deaths. At one point the situation seemed to be following the situation in Brazil but has stabilized recently.

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Is India relaxing its earlier tight vigilance for the coronavirus? This report in DW.com points out that the earlier vigilance has slackened after the reopening of the economy leading to a jump in cases.

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In the U.S., Brazil, and now Mexico wearing masks during the coronavirus pandemic has become politicized. Here "Amlo" as president Lopez Obrador is popularly called says he will wear a mask once corruption is ended in Mexico and he does not need to talk about corruption. Amlo gives his own advice for fighting the pandemic- stop eating junk food or taking junk drinks, lose weight, and find spirituality, which is all good advice. President Trump recently wore a mask and called it "patriotic" to wear a mask taking some of the politics out of this simple and basic prevention action. The governor of Texas made it mandatory to wear a mask after initial hesitation.  

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New bicycle lanes in Paris, Milan, to Mexico City are changing the way cities see people getting to work or moving round. New bicycle lanes are popping up in many cities. In Paris the plan by order of the mayor is to provide 400 miles of pop-up bicycle lanes throughout Greater Paris. Car lanes are giving way and being transformed into bicycle lanes. 

Oakland has moved to have 10% of the roads for bicycle lanes. In Montreal extra 70 miles are added. Bogota added 47 miles.

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Transmission for people visiting other households is a big part of the transmission problem in northern England in July. Lockdown for these visits is being reinstated as cases rise. This is seen as a bigger problem than going to work so that restrictions have to be placed in a way that restricts the kind of activity that causes transmission, says Matt Hancock, health secretary. People from different households are now barred from meeting indoors in the Manchester area.