Tag: news

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Wealth Transfer

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The superrich wanted Great Wealth Transfer, by becoming philanthropist effectively means transfer of family wealth from the Baby Boomer generation to their children. Vanguard estimated that by 2030, around $10.6 trillion will have been transferred between generations in the United States, $.35 trillion in Europe, and $2.8 trillion in Asia. These are enormous figures, but globally, the private equity industry had $8.2 trillion of assets under management at the end of 2023. There is great wealth transfer happening every day that has contributed to this enormous accumulation of wealth: the monopolization of the economy.  Wealth transfer emerges from the pocketbooks … Continue reading Wealth Transfer

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Google’s search dominance under UK watchdog investigation

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Google accounts for 90 per cent of all UK web searches – the Competition and Markets Authority (CMA) is looking whether it is using that dominant position to harm competition or choice for users. CMA, the UK’s competition watchdog has launched an investigation to find out if Google has too much power in online search. The CMA says it wants to ensure the tech giant is “delivering good outcomes for people and businesses” and that there is a “level playing field” for rivals. Google says it will cooperate with the investigation but has warned against what it calls “overly prescriptive … Continue reading Google’s search dominance under UK watchdog investigation

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Global web of power

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This is the untold story of the mysterious Chinese telecom company that shook the world from the coast of southern China, eccentric entrepreneur spent three decades  since its founding in 1987 in Shenzhen, shaping one of the world’s most powerful technological empires without anyone noticing. But December 2018, when the detention of Meng Wanzhou, Huawei Technologies’ female scion, sparked an international hostage standoff, poured fuel on the US-China trade war, and suddenly thrust the mysterious company into the international spotlight. In House of Huawei, Washington Post technology reporter  and former China correspondent Eva Dou, writes an authoritative and remarkable portrait of Huawei’s … Continue reading Global web of power

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Opioid overdoses quadrupled in the US

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Greed to Do Good, is the untold story of Centre for Disease Control and Prevention’s disastrous war on opioids, as CDC announced that overdose deaths had quadrupled in ten years, hitting a record high of 90, 000 in 2020, but overdose deaths rocketed to 100,000 in 2021 and 110, 000 in 2022.  Between 2006-2012, Purdue Pharma, which promoted OxyContin along with other Big Pharma companies, sold 76 billion opioid doses. Overdoses shot up almost in parallel manner. In 2022, the death toll from overdoses exceeded auto and firearms deaths combined. To stem the tide, the CDC decided to focus on … Continue reading Opioid overdoses quadrupled in the US

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Insight into lost world

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Travel writer Norman Lewis spent a whole life of writing inscrutably on the road, revealing th world in all its unspoiled beauty, also reflecting a world now totally lost to us, from Yemen of the Imams to bandit chieftains, Neapolitan men of honour and tribal chieftains in Central America, as well as darker scenes: the doomed cultures of French rule in Indo-China, Cossaks being sent home to their death and the quiet holocaust of the indigenous peoples in the jungles of South America. Lewis (1908-2003) was the author of 15 novels and 20 works of non-fiction. The author descirbes “The … Continue reading Insight into lost world

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Work-at-home concept started in India

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Shri Mahila Griha Udyog Lijjat Pappad, a co-operative started in 1959 in Bombay by seven housewives who made the humble poppadoms, a crispy, savoury snack that became a staple of Indian meals. Now sixty-five years later, the co-operative has spread across India with over 45, 000 women members grossing a turnover of £150m and exports its products to several countries around the world. Under-privileged Women in this co-operative got their pride and respect as they produced several items including spices, chapatis, Poppadoms. “Lijjat is a temple for us, as it helps us earn money and feed our families. The decision … Continue reading Work-at-home concept started in India

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Variation in prosperity and poverty

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The success and prosperity of a nation boils down to their institutions, legal fairness and political transparency. Most countries lack the sense of equality by having exclusionary policies designed to enrich the elites and exploit the poor majority, preventing technological innovation, but social tensions, the legacy form civil conflict, geography, corruption and policy failure, contribute to government weakness. Extractive economic institutions do not create incentives needed for people to save, Invest and innovate.  Higher productivity promotes faster economic growth, and faster growth allows a nation to escape poverty. Nobel prize-winning economist, Daron Acemoglu and James A. Robinson makes meticulous enquiry … Continue reading Variation in prosperity and poverty

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Post Office spent over £132m of taxpayer money defending itself

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The Post Office has spent over £132m of taxpayer money ( £82m in the 12 mon ths to 31st March 2024, £38m the previous 12 months, and £12m in the year prior to that, defending itself at the inquiry into the wrongful conviction of 900 sub-postmasters who were prosecuted wrongly for shortfalls in their accounts caused by bugs in Fujitsu’s Horizon IT system in what has been described as one of the most widespread miscarriages in British legal history. Most sub-postmasters wrongly convicted lost their livelihoods or were forced to make up shortfalls from their own money, while some former sub-postmasters … Continue reading Post Office spent over £132m of taxpayer money defending itself

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Royal Mail £3.6bn takeover approved by the UK Government

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Daniel Kretinsky (49), Czech low-key billionaire entrepreneur, whose net worth is £6bn, is the new owner of Royal Mail, the historic British company, after the £3.6bn takeover sale of its parent firm was approved by the UK Government. His EO Group is ready to make Royal Mail successful. His investments are in Eustream, Central and Eastern European energy via a labyrinthine structure of companies, which transports Russian Gas via pipelines that run through Ukraine, the Czech Republic and Slovakia.  He build up well-known brands through Vesa Equity Investment, a private firm which is Luxembourg, also holds big stakes in Sainsbury’s … Continue reading Royal Mail £3.6bn takeover approved by the UK Government

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“Tabla King in whose hands, rhythm became magic,” dies aged 73

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Zakir Hussain, one of the world’s greatest tabala players has died aged 73, of idiopathic pulmonary fibrosis, a lung disease, at a hospital in San Francisco. Hussain, the Indian classical music icon, was a four-time Grammy award winner  ( seven Grammy nominations, and has received the Padma Vibhushan, India’s second-highest civilian award. Using the table – a pair of drums used in Indian classical music an accompaniment to the main performance, he transformed the tabla into a globally loved solo instrument. Tributes have began pouring in, as the news of Hussain’s death broke. Nayan Gosh, a sitar and table player said. … Continue reading “Tabla King in whose hands, rhythm became magic,” dies aged 73