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Showing posts from August, 2019

DK Shivakumar grilled by ED for second day in money-laundering case, Congress alleges political vendetta by Modi govt

DK Shivakumar was questioned by the Enforcement Direcotrate on Saturday for over eight hours for the second consecutive day in a money laundering case. He has been asked to appear before the agency again on Monday. from The Financial ExpressThe Financial Express https://ift.tt/34fU0tn

Assam NRC final list to be out today, tight security in state as fate of 41 lakh people hangs in balance | Top Updates

Assam NRC 2019: The NRC aims to identify illegal settlers in the state of Assam. However, the Centre has made it clear people whose names are missing from the final list will not be declared as foreigners immediately. from The Financial ExpressThe Financial Express https://ift.tt/34cy8z1

DHFL Resolution: Board paves way for ownership change, debt to convert to equity

In a statement, the company said, “Conversion of the whole or part of the debt into equity shares or other securities of the company in accordance with the applicable law with the price of such conversion being in line with the applicable laws and which may result in a change in ownership of the company.” from The Financial ExpressThe Financial Express https://ift.tt/2LmBGWD

SC seeks, RBI, government reply on plea of businessman with Rs 1.17 crore scrapped note

A bench led by Justice NV Ramana issued notice to RBI and the Union government on a petition by textile trader K Raman (owner of Ajai Exim) for booking him under the Negotiable Instruments Act for trying to remit Rs 1.17 crore to his vendors on December 30, 2016, (the last day for depositing old Rs 500 and Rs 1,000 notes). from The Financial ExpressThe Financial Express https://ift.tt/34fTRpB

Local sourcing is one of the main drivers to cut costs: Peter Betzel, CEO, IKEA India

The easier norms for local sourcing by global single-brand retailers Peter Betzel, CEO, IKEA India, tells Asmita Dey could see it sourcing much more than merely textiles. IKea is aiming to reach 100 million Indian customers in the coming three years with a multi-channel approach, Betzel said. Excerpts: from The Financial ExpressThe Financial Express https://ift.tt/2ZzSa2T

The time a jet-lagged Elon Musk made Alibaba’s Jack Ma sound grounded

Musk, alternating between tech visionary and larger-than-life Bond villain, argued that AI will soon surpass the human race; that civilisation may end and hence humankind needed to explore the cosmos (specifically Mars); and that people are essentially dumb creatures circumscribed by genes. from The Financial ExpressThe Financial Express https://ift.tt/2PqQjh4

Nominee to head U.S. export controls bureau gives up acting duties -Commerce Department

WASHINGTON -- President Donald Trump's nominee to oversee the U.S. Commerce Department's bureau that controls exports of technology to foreign firms, such as China's Huawei Technologies Co Ltd, said on Thursday she is renouncing her acting duties but has not withdrawn from the confirmation process. Read More from Financial Post https://ift.tt/2ZpnQg5

Regulatory bodies need to upgrade, say experts

“A lot of tribunals which were created as a special body of adjudicators have become havens for retired bureaucrats and judges. It is also time the people who man these bodies are experts in the field,” Supreme Court judge Sanjay Kishan Kaul said, participating in the debate ‘Regulatory Vision for Naya India’. from The Financial ExpressThe Financial Express https://ift.tt/2L4Quu5

Amazon’s Ring Partners With 400 Police Forces, Adding Fuel to an Already Raging Privacy Debate

Ring, the smart-doorbell company that Amazon bought for at least $1 billion last year, says it has partnered with more than 400 U.S. police forces to gain voluntary access to the video footage recorded by Ring doorbells. “Today, 405 agencies use the Neighbors Portal,” the company writes in a corporate blog post Wednesday, published after a Washington Post story detailed the expansion of its police partnerships , which had reached a larger scale than previously reported. A July report from Motherboard counted 200 such partnerships. Ring’s Neighbors Portal draws on the company’s Neighbors app, which shares crime and safety alerts with Ring customers. Through the Neighbors Portal, police can share information with neighborhoods or reach out to Ring customers to ask for video recordings during active investigations. This map shows the local law enforcement agencies partnering with Ring, many of which list recent activation dates: The program has also spurred a backlash of critici

Major Japanese Stock Music Service Audiostock Releases English Language Version

OKAYAMA, Japan -- CreoFuga, Inc. (Okayama Prefecture, CEO: Shuichiro Nishio), operator of Audiostock, one of Japan's largest stock audio services, has released an English language version of the Audiostock website ( https://audiostock.net/ ). Audiostock features about 150,000 music works by around 10,000 Japanese creative teams, with sales intended to contribute to the earnings of these creators. Read More from Financial Post https://ift.tt/2UetRXg

Apple, IKEA, H&M may bolster their presence in India as Centre relaxes FDI rule in single-brand retail

Seeking to create a manufacturing eco-system at a time when several foreign companies are looking to shift out of China to beat an escalating global trade war, the Cabinet Committee on Economic Affairs also decided to allow up to 100% FDI in contract manufacturing via automatic route. from The Financial ExpressThe Financial Express https://ift.tt/329A1KX

IL&FS fraud: ED to attach assets of ABG Shipyard, SKIL and 5 other companies

“The ED is going after all the defaulters related to IL&FS Financial Services (IFIN) in phases. Over the next three to four months, the agency will file attachments and chargesheets in these cases – for ABG Shipyard and Nikhil Gandhi's SKIL Group. There are also real estate developers, some Delhi-based ones, who are involved in money laundering,” a person aware of the developments told FE. from The Financial ExpressThe Financial Express https://ift.tt/2Zw8EJw

Delhi: Dalit activists threaten indefinite stir against Ravidas temple demolition in Tughlakabad forest area

The Ravidas temple in Tughlaqabad forest area of south Delhi was demolished by the Delhi Development Authority (DDA) earlier this month on the orders of the Supreme Court. The Dalits are demanding that the Centre rebuild the temple at the same spot or hand over the plot to the community. from The Financial ExpressThe Financial Express https://ift.tt/2L1UVpH

The Diseases That Are Increasingly Killing Americans: Brainstorm Health

Good afternoon, readers. A new study in the journal JAMA helps break out exactly what is, and isn’t, killing Americans. Heart disease is far and away the number one killer in this country (some 1 in 4 deaths are associated with it). But cancer, lung diseases, and metabolic disorders such as diabetes aren’t far behind . Here is the good news-bad news situation, according to the report: “While cardiovascular disease (CVD) death rates declined by approximately 36% from 2000 to 2014, CVD remains the leading cause of mortality among US adults. Annual declines in CVD mortality slowed between 2011 and 2014 (0.7% fewer CVD deaths per year), and it appears unlikely that strategic goals from the American Heart Association (20% reduction by 2020) will be achieved.” Put into simpler terms, diabetes and high blood pressure are still killing millions of people. And communities of color continue to be disproportionately affected by this reality. Read on for the day’s news. Sy Mukherjee, @the

Tokyo stocks rebound on Trump’s comments on Japan auto tariffs; Subaru, tyremakers shine

TOKYO -- Japanese shares staged a modest rebound on Tuesday after a sharp selloff in the previous session as investors were relieved by U.S. President Donald Trump's comments that the United States would not imminently impose new tariffs on autos imported from Japan. Read More from Financial Post https://ift.tt/30E7DAe

Why Republicans Running Against Trump Won’t Get Much Help From Their Party

“Never Trump” Republicans are eager to see the president confront a credible primary adversary. But the party will likely erect structural barriers that make that kind of challenge exceedingly difficult. And for good reason: Every incumbent president for four-plus decades who has faced a serious primary opponent was weakened enough to ultimately lose reelection. Joe Walsh,  a former tea-party-backed, one-term congressman from Illinois, on Sunday joined Bill Weld, the former Republican governor of Massachusetts, on the lonely road to try to unseat President Donald Trump. Other Republicans may join them. Mark Sanford, former governor and Republican congressman from South Carolina,  has flirted with a 2020 presidential bid, and Republican ex-Ohio Gov. John Kasich is set to visit New Hampshire, which holds the nation’s first presidential primary, in September. So far, none of them seems to pose a serious threat. The president’s supporters note that the ranks of outspoken “Never Trumper

Sanders and Warren Climb, Biden Dips in New 2020 Democratic Presidential Poll

Democratic frontrunner Joe Biden is slightly trailing fellow candidates Bernie Sanders and Elizabeth Warren, according to a new presidential poll. The latest query of voters from  Monmouth University released Monday shows a virtual three-way tie between the top candidates. Sanders and Warren are each at 20%, compared to Biden who is at 19% among likely Democratic voters. Sanders and Warren climbed six and five percentage points, respectively, compared to a similar Monmouth poll taken in June. Biden, who had a comfortable lead dipped 13 percentage points in that same poll from two months ago. While Biden still remains atop many polls , the gap is narrowing between the former vice president and the other 20 or so Democratic presidential hopefuls. Additionally, several strategists and experts say Biden’s recent public gaffes might be catching up to him. “As we move further into the election cycle you will likely see the poll numbers tighten,” said Brian Sobel, a San Francisco Bay A

Ashes 2019: Sensational Ben Stokes stars as England beat Australia by one wicket in third Test, level series 1-1

All-rounder Ben Stokes flayed fast bowler Pat Cummins for four to seal a famous victory arguably even more improbable than England's celebrated 1981 Ashes Test success at Headingley when they won after following-on. This was only the fourth time a team had made more than 300 to win in the fourth innings of a Test at Headingley. from The Financial ExpressThe Financial Express https://ift.tt/30C8iT0

PM Johnson to tell EU’s Tusk UK won’t pay 39 bln stg under no-deal Brexit- Sky News

British Prime Minister Boris Johnson is expected to tell European Council head Donald Tusk that the UK will only pay 9 billion pounds ($11.05 billion) instead of the 39 billion pounds liability agreed by former Prime Minister Theresa May under a no-deal Brexit, Sky News reported http://bit.ly/30wrm4P early on Sunday. Read More from Financial Post https://ift.tt/2ZqU7yC

IMF meets with Argentina’s Treasury minister and central bank president

BUENOS AIRES -- Top Argentine finance officials met with a team from the International Monetary Fund on Saturday, the Treasury Ministry said, while tens of thousands of supporters of President Mauricio Macri gathered just outside the presidential palace, waving national flags and cheering. Read More from Financial Post https://ift.tt/2U4Lx7x

Kashmir visit will disturb restoration of peace, normal life: J&K administration tells opposition leaders

Jammu and Kashmir was placed under lockdown hours before the Modi government scrapped the special status granted to the state. Curfew was imposed, communication lines were snapped and movements were restricted in the border state. from The Financial ExpressThe Financial Express https://ift.tt/3212kLG

Hong Kong airport operating normally despite planned ‘stress test’ protest

Authorities had taken out a court order to prevent demonstrations at the airport, which was forced to close for part of last week after protesters thronged the main terminal for several days, grounding around 1000 flights and occasionally clashing with police. from The Financial ExpressThe Financial Express https://ift.tt/30twHdn

Trump heaps another 5% tariff on Chinese goods in latest tit-for-tat escalation

WASHINGTON/BEIJING -- U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world's two largest economies. Read More from Financial Post https://ift.tt/2Mz1NwM

FM Nirmala Sitharaman’s steps will strengthen India’s position as global investment destination, says US industry

"We commend Finance Minister Nirmala Sitharaman and the Government of India on this comprehensive set of proposed reforms, which will provide needed stimulus for the Indian economy and ensure continued economic expansion,” US India Business Council president Nisha Desai Biswal said. from The Financial ExpressThe Financial Express https://ift.tt/33UrD3z

Sundaram withdraws DHFL side-pocket

Taking the fact into consideration, the company decided to treat it as an event of default for its schemes and also decided to write off the principal and interest aggregating to Rs 52.21 crore on August 16, 2019. from The Financial ExpressThe Financial Express https://ift.tt/320A77Q

Economic slowdown: No big-bang fiscal stimulus likely

The statements underscore the government’s discomfiture to loosen its purse strings in a big way, given the ‘limited fiscal space’ amid subdued tax collection growth. Nevertheless, it will likely opt for targeted interventions in critical sectors like auto, MSMEs and infrastructure. Also, it could front-load its spending to spur demand. from The Financial ExpressThe Financial Express https://ift.tt/2KPkdHs

INX media case: CBI gets Chidambaram’s custody for four days

A team of the Enforcement Directorate, probing alleged money laundering charges, also showed up at his house before he was taken away in a CBI vehicle at night. Congress leaders and lawyers Kapil Sibal and Abhishek Manu Singhvi were with Chidambaram when he was placed under arrest. from The Financial ExpressThe Financial Express https://ift.tt/31WoKNT

Tired of Robocalls? You May Be Free of Them Soon

AT&T, Verizon Communications, and 10 other large phone companies have struck an agreement with 51 attorneys general to enact technology to block robocalls before they reach consumers. The deal, announced Thursday, will help protect consumers from receiving illegal robocalls, and assist law enforcement in investigating and prosecuting bad actors, said North Carolina Attorney General Josh Stein, who is leading the effort that includes all 50 states and the District of Columbia. Under the deal, the companies will launch the call-blocking technology at no cost to consumers, and make other free anti-robocall devices and apps available to subscribers.  “By signing on to these principles, industry leaders are taking new steps to keep your phone from ringing with an unwanted call,” Stein said in a statement. The companies are under pressure to protect consumers against the unwanted calls, which are a top source of complaints with the U.S. Federal Communications Commission. Across the