Category Archives: Business News

The best Black Friday iPhone deals of 2018

Looking for an iPhone this Black Friday?

     

 

 

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The best Black Friday iPhone deals of 2018

Looking for an iPhone this Black Friday?

     

 

 

from USATODAY – Money Top Stories https://ift.tt/2Q06TU5

Senators question Facebook on a report it hired a PR firm to retaliate against critics

The New York Times reported earlier this week that Facebook hired Definers Public Affairs to downplay public statements and deflect public scrutiny onto rival tech companies.

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Here’s how gamers make money

Esports competitions and livestreaming have turned full-time gaming into a lucrative career path.

from Business News https://ift.tt/2K83BZH

Discussion thread for weekend of November 17, 2018 – What are you reading this weekend?

The intelligent investor never stops reading. This is a thread to share articles, books, research papers, newspaper reports, television clips, podcasts, interviews or anything of interest that you are catching on over the weekend.

Are you a starter in investing? Then, here is a list of recommended books:

  • Stocks for the Long Run, Jeremy Siegel
  • Learn to Earn: A Beginner's Guide to the Basics of Investing and Business, Peter Lynch
  • One Up On Wall Street: How to Use What You Already Know to Make Money in the Market, Peter Lynch
  • The Little Book That Builds Wealth: The Knockout Formula for Finding Great Investments, Pat Dorsey
  • A Random Walk Down Wall Street – The Time–Tested Strategy for Successful Investing, Burton G. Malkiel

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Why JP Morgan’s top internet analyst expects breakout growth for Facebook and Amazon shares in 2019

Technology stocks were hurt by a "challenging earnings season" last month but that's created a window of opportunity, J. P. Morgan internet analyst Doug Anmuth tells CNBC.

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The best Black Friday MacBook deals of 2018: MacBook Air, Macbook Pro, MacBook Pro with Touch Bar, and more

These are the best MacBook deals.

     

 

 

from USATODAY – Money Top Stories https://ift.tt/2OQ7svf

The best Black Friday MacBook deals of 2018: MacBook Air, Macbook Pro, MacBook Pro with Touch Bar, and more

These are the best MacBook deals.

     

 

 

from USATODAY – Money Top Stories https://ift.tt/2OQ7svf

From RBI to judiciary, India’s fate hinges on autonomy

By Milind DeoraIn 2016, a major protest by Indian Revenue Service officers flared up against then-revenue secretary Hasmukh Adhia. While it didn’t make headlines like the crises currently unfolding at CBI and RBI, it was, in a sense, a precursor of things to come. Beginning with this incident, a pattern would be revealed in which the first majority government in 30 years would be accused of employing political manoeuvres to intimidate institutions that are, to uphold democratic ideals, designed to function independently.In early 2018, the four senior-most judges of the Supreme Court did something utterly unprecedented: a public ‘revolt’ questioning the leadership of then-Chief Justice of India Dipak Misra, particularly with regard to abuse of power in the allocation of politically sensitive cases. The judges’ larger concern was a compromised justice delivery system and, by consequence, a compromised democracy.But even a crisis as devastating as this was soon buried and forgotten thanks to a partisan media.But when the CBI crisis erupted, even friendly media platforms couldn’t resist the lure of capitalising on the highprofile drama, and have been reporting on it extensively. It may not have been as constitutionally devastating as the judicial crisis. But it was definitely more sensational and political.The other political crisis is the ongoingRBI-GoI tussle. This is not to say that the relationship between RBI and two successive UPA governments wasn’t fraught with disagreements. During the UPA years, there was constant debate around what assumes paramount importance — growth or inflation — with GoI wanting to lower interest ratesto boost growth, and RBI holding firm on its conservative stance to control inflation.However, demonetisation in 2016 truly undermined and jeopardised RBI’s autonomy. This proved to be sensationally disruptive for RBI-GoI relations. Not only was RBI’s advice ignored, it was also informed pretty much the same time as the country, and had to then scramble for months to do damage control. Demonetisation is now unequivocally accepted as a failure. One of the reasons it failed was because RBI’s warning that the move was dangerous for India went unheeded. RBI knows better than anyone — it’s the institution’s very job to know — how a decision like this would be implemented, and what its short- and long-term impacts are likely to be. And the fact that GoI still unilaterally decided to implement such an invasive monetary policy decision seriously undermined RBI’s credibility as an autonomous institution. GoI is currently trying to invoke Section 7 of the RBI Act, hitherto unused in the 83-year history of the bank, which permits GoI to give directions to RBI if it considers them necessary for ‘public interest’.The larger point here is that the structure, functioning and architecture of institutions like the Central Board of Direct Taxes (CBDT), RBI, CBI and the judiciary are fundamentally different from those of democratically elected governments. They are designed to be autonomous and devoid of political influence. As RBI deputy governor Viral Acharya succinctly said last month, the horizon of decision-making for a government is short, like a T20 match, whereas a central bank plays a Test.Governments are run by parties and politicians who are judged every election cycle. So, they must deliver results within a prescribed timeframe —or at least project an appearance of attempting to deliver on their promises. The benefits of lowering interest rates, for instance, may not manifest quickly, but the appearance of encouraging growth in itself can improve market sentiment. The aforementioned institutions do not work on sentiment — they function on hard, objective facts. The judiciary and investigative agencies like CBI are mandated to function purely on evidence. If preliminary enquiries reveal little or no prima facie evidence, the case is usually not allowed to proceed. RBI is judged purely on sound economic policy, and functions on economic and market fundamentals.Some institutions are more susceptible to political influence than others. But, ultimately, they’re all meant to function as unequivocally independent entities. T20 strategies shouldn’t be employed in Test matches.Not only should this ideal of independence be respected in theory, it must also be strengthened in practice. As a country, we should be debating the ways in which we can nurture and increase the autonomy of RBI and the judiciary, or how we can liberate CBI or CBDT from political intervention. Instead, we’re currently doing quite the opposite. We’re weakening these institutions by trying to undermine and curtail their independence. Though autonomous on paper, these institutions have a long way to go in truly functioning independently and impersonally.In the long run, autonomy is essential to preserve the democratic health of our country. Judicial autonomy allows checks and balances on the executive and legislature, thereby upholding and strengthening our Constitution. RBI is indispensable in keeping the finances of GoI and the country under scrutiny.The harsh truth is that politicians will always be swayed by power and tempted by the prospect of control. It is, therefore, imperative for people within institutions and regulatory agencies meant to be independent to fight for their space and speak out against any attempts at political manipulation or interference. And regardless of which party’s in power, these attempts must be welcomed and actively encouraged. Autonomy, or the lack thereof, can truly augment or destroy India’s institutional capacity.The writer is former minister of state for communications and information technology, GoI

from Economic Times https://ift.tt/2A06U0p

BBNL, BSNL show lack of professionalism, says telecom secretary

NEW DELHI: The Department of Telecommunications (DoT) has warned senior officials of public-owned Bharat Broadband Network Limited (BBNL) and Bharat Sanchar Nigam Limited (BSNL) of stern action for failing to operationalise the government’s ambitious BharatNet network.In a letter to BBNL and BSNL top executives— Sanjay Singh and Anupam Shrivastava, dated November 2, a copy of which is seen by ETTelecom, telecom secretary Aruna Sundararajan said that a disciplinary action would be taken against officials responsible for non-operational network in village blocks and attributed “lack of professionalism” on the part of two public sector companies which has led to poor planning and coordination between the two.Sundararajan further warned that the Prime Minister Narendra Modi’s ambitious project is being monitored by highest levels in the government and any failure to comply with or disregard of instructions shall invite “exemplary” disciplinary action. The letter comes ahead of Modi government completing a five-year term in office, with the Prime Minister Office (PMO) expected to seek report card from various ministries before the country goes for the general elections next year.BharatNet, originally conceived under the UPA-II regime in 2012, aims to connect 2.5 lakh gram panchayats or village blocks with high-speed Internet connectivity, and has already missed various deadlines.Telecom Minister Manoj Sinha has already revised the timeline for its completion by March 31, 2019 which, however, appeared to be challenging, and as as per latest figure provided by a nodal agency BBNL, only 1.16 lakh gram panchayats are operationally up and running currently.Sundararajan has also sought a weekly report from the two government-driven firms on punitive action taken against those responsible for failure of Centre’s prestigious program. Clear utilisation targets have already been set, but the actual on-ground utilisation is understood to be less than 10% of the target, the top official pointed out in the letter.”The issue was more related to maintenance and utilisation of network, and we have already alerted the officials responsible for it,” BBNL chairman Sanjay Singh told ETTelecom, adding that the onus lies with the implementing agency.Fourth-largest telco BSNL, however, did not revert to an e-mailed query.The department has embarked on BharatNet’s phase – II and has fixed the issues that plagued the initiative during the earlier phase and empowered agencies to deploy end-to-end network including service delivery with lucrative scheme that may further give boost to the government’s mega initiative.

from Economic Times https://ift.tt/2ONObu2

BBNL, BSNL show lack of professionalism, says telecom secretary

Telecom secretary Aruna Sundararajan said that a disciplinary action would be taken against officials responsible for non-operational network in village blocks.

from Telecom-Industry-Economic Times https://ift.tt/2ONObu2

Why Trump doesn’t want to annoy ‘friend’ India

By Ravi JoshiUS President Donald Trump’s waiver to India for the ongoing project in Chabahar port in Iran was a relief to New Delhi. Especially because this waiver comes in addition to the six-month relief from sanctions on the import of Iranian oil granted to seven other countries.Chabahar has been belatedly recognised by the US State Department as another important gateway to Afghanistan that could reduce its dependence on Karachi in Pakistan. Even more surprising is that the US has still not reacted to India’s decision to buy the S-400 Triumf missile defence system from Russia, despite the Countering America’s Adversaries Through Sanctions Act (Caatsa). Even though Trump has ominously declared a ‘wait’n’watch’, thereby hanging a sanctions sword above India’s head.So why is Trump being so generous? And what’s in it for the US? To say that this waiver is meant to enhance India’s role in Afghanistan — in accordance with the National Security Strategy (NSS) announced by Trump in December 2017 — sounds rather suspect. As The New York Times commented, “…the intellectual content of that strategy was at sharp variance with his unpredictable, domestically driven, Twitter-fuelled approach to foreign policy”. Such being Trump’s style of functioning, New Delhi should be wary of the present White House whose Cabinet members sign treaties, while the president imposes sanctions through midnight tweets.The only possible answer is that the US government is waiting for India to announce mega defence deals to appease the irate god in the White House. One should go back to the recent proceedings of the 2+2 Dialogue between India’s foreign and defence ministers with their US counterparts held in September. This meeting resolved India’s objections to the Communications Interoperability and Security Memorandum of Agreement (Cismoa), and came up with a more accommodating Communications Compatibility and Security Agreement (Comcasa).‘Interoperability’ has always been regarded as an offensive term that puts India in the position of a supplicant, or underling, of the US. It has, therefore, raised a lot of hue and cry. That is because the template of interoperability is well-known and available in the US’ defence partnership with non-Nato countries like Brazil, Morocco and South Korea. So, replacing it with Comcasa, whose nature and scope is safely hidden in a classified document, is more practical.Since 2008, India has signed up for more than $15 billion in arms with the US for the C-17 Globemaster and C-130J transport planes, P-8I maritime reconnaissance aircraft, M777 howitzers, Harpoon missiles, and Apache and Chinook helicopters. This order book is set to see a further hike with the US likely to accept an Indian request for Sea Guardian drones.In addition, US defence contractors such as Lockheed Martin and Boeing are also strong contenders for a number of high-profile arms deals, including the recently floated tender notices for 110 fighter planes for the Indian Air Force, 57 multi-role carrier borne fighters (MRCBFs) for the Indian Navy, and 234 naval utility and multi-role helicopters.With such huge orders in the pipeline, any US administration would be severely restrained in annoying New Delhi, whatever be the latter’s relations with Iran or Russia. The underlying US ‘India policy’ norm is that New Delhi reduces its dependence on Iran for oil imports and with Russia on defence imports, and replace them with Saudi Arabia and the US. How India will continue to juggle four balls in the air — and for how long — will test the agility of its foreign policy. The writer is former joint secretary, Cabinet secretariat, who handled the Iran desk

from Economic Times https://ift.tt/2DqbdVR

BBNL, BSNL show lack of professionalism, says telecom secretary

Telecom secretary Aruna Sundararajan said that a disciplinary action would be taken against officials responsible for non-operational network in village blocks.

from Industry-Economic Times https://ift.tt/2ONObu2

The big city paradox: They’re getting richer but losing electoral clout

Amazon’s decision to split its second headquarters between New York and D.C. has fueled fears that America’s biggest cities are experiencing too much winning. The Senate and electoral college tell a different story.

from Business https://ift.tt/2Py17JN

The big city paradox: They’re getting richer but losing electoral clout

Amazon’s decision to split its second headquarters between New York and D.C. has fueled fears that America’s biggest cities are experiencing too much winning. The Senate and electoral college tell a different story.

from Business https://ift.tt/2qPCtpe

Marijuana is getting cheaper. For some states, that’s a problem.

While consumers may enjoy the cheaper prices, the low revenue may strain state budgets.

from Business https://ift.tt/2Fr7HgM

Marijuana is getting cheaper. For some states, that’s a problem.

While consumers may enjoy the cheaper prices, the low revenue may strain state budgets.

from Business https://ift.tt/2Fr7HgM

Google Cloud CEO Diane Greene is out, to be replaced by former Oracle exec Thomas Kurian

Google is replacing its head of cloud computing, Diane Greene, with Thomas Kurian, who was previously president at Oracle. Greene joined Google cloud three years ago.

from Business News https://ift.tt/2Bb5qC3

Govt for greater involvement in decision making of RBI

Govt for greater involvement in decision making of RBI The government feels that as the representative of the people, it should be involved in critical policy decisions made by the Reserve Bank of India (RBI), they added.

from Moneycontrol Latest News https://ift.tt/2qSOuKx

After Andhra Pradesh, West Bengal withdraws general consent to CBI

After Andhra Pradesh, West Bengal withdraws general consent to CBI The decision was taken late on November 16, close on the heels of a similar step initiated by the Chandrababu Naidu-led Andhra Pradesh government.

from Moneycontrol Latest News https://ift.tt/2Fq70nH

Stop insulting chaiwala: Congress to Narendra Modi

Stop insulting chaiwala: Congress to Narendra Modi Congress leader Pawan Khera said no profession is small and asked Modi “why do you consider being called a #39;chaiwala#39; a humiliating comment”.

from Moneycontrol Latest News https://ift.tt/2qRlBOW

US judge orders White House to restore CNN reporter Jim Acosta#39;s access

US judge orders White House to restore CNN reporter Jim Acosta#39;s access Judge Timothy Kelly issued a temporary restraining order that requires the White House to restore Acosta#39;s access until a full hearing is held, according to the network.

from Moneycontrol Latest News https://ift.tt/2FDph1h

Government wants panels within RBI for oversight: Report

Prime Minister Narendra Modi’s administration has recommended that the board of the Reserve Bank of India draft regulations to enable setting up panels to oversee functions, according to sources.

from Hindustan Times – business https://ift.tt/2TiR49U

The best Black Friday TV deals of 2018: Samsung, LG, Roku and more

Shopping for a new TV on Black Friday? These are the very best deals—and most are available right now.

     

 

 

from USATODAY – Money Top Stories https://ift.tt/2PyBlFt

Essar lenders seek dismissal of two applications against ArcelorMittal

The committee has also sought day-to-day hearing of other such applications, filed by operational creditors.

from Industry-Economic Times https://ift.tt/2TjPVPe

1,023 fast track courts to be set up under Nirbhaya fund: WCD ministry

1,023 fast track courts to be set up under Nirbhaya fund: WCD ministry In July, the Ministry of Law and Justice had proposed setting up over 1,000 #39;fast track special courts#39; across the country, as part of a new scheme to try cases related to rape of children and women.

from Moneycontrol Latest News https://ift.tt/2Ka3Van

West Bengal follows Andhra’s suit, blocks CBI

AMARAVATI/KOLKATA: Andhra Pradesh and West Bengal governments have withdrawn their “general consent” to the CBI to conduct raids and investigations, as the Opposition alleged states were losing faith in central agencies due to their “misuse” by the Narendra Modi government at the Centre.The BJP, however, dubbed it a “clear malafide exercise of power” by “corrupt parties” to protect their interests.The Central Bureau of Investigation (CBI) would now need permission from the respective state governments to carry out any sort of investigation in these states, except those ordered by the courts and against central government officials.Andhra Pradesh government is headed by Chief Minister Chandrababu Naidu of Telugu Desam Party (TDP) and West Bengal is ruled by Mamata Banerjee of Trinamool Congress, who are among the key leaders trying to forge a broader ‘grand alliance’ of opposition parties to fight the BJP unitedly in the 2019 Lok Sabha elections.Andhra Pradesh Deputy Chief Minister (Home) N China Rajappa told reporters that the reason to withdraw the consent was recent allegations against top CBI officials, while Banerjee said she was extending her support to Naidu as the BJP was using the CBI and other agencies to pursue its own political vendetta.”In exercise of the powers conferred by Section 6 of the Delhi Special Police Establishment Act, 1946, the government hereby withdraws the general consent accorded (in GO Ms 109) to all the members of the Delhi Special Police Establishment to exercise the powers and jurisdiction under the said Act in the state of Andhra Pradesh,” a Government Order (GO) dated November 8 said.Following suit on Friday evening, the West Bengal government also withdrew its ‘general consent’ to the CBI to conduct raids or carry out investigations in the state.The CBI functions under the Delhi Special Police Establishment Act, under which provides a state government “routinely” grants consent to the CBI for exercising its authority in the state and the AP government, too, had issued relevant orders periodically in the last few years.Ever since he snapped ties with the Modi-led NDA government in March, Naidu has been alleging that the Centre was misusing agencies like the CBI to target political opponents.After recent raids by Income Tax authorities on some business establishments, run by those close to the ruling TDP in the state, Naidu had announced that his government would not provide police cover to the tax officers in their raids.”We have trust in the CBI but the recent allegations against its top officials have made us withdraw the general consent. Henceforth, the CBI has to obtain the state governments permission for investigating every case,” Rajappa said, claiming that the decision was taken on the advice of lawyers and intellectuals.Rajappa, however, clarified that the CBI could take up investigation against central government officials without the state’s permission and also said, “We will grant necessary permission whenever the CBI makes a request.”In West Bengal, chief minister Banerjee said, “What Chandrababu Naidu has done is absolutely right. The BJP is using the CBI and other agencies to pursue its own political interests and vendetta.”The general consent was accorded to the CBI in West Bengal by the then Left Front government in West Bengal in 1989.The BJP termed the Naidu government’s decision “a malafide exercise” to protect acts of corruption, financial embezzlement and other acts of criminality.”The state government has cited recent happenings in the CBI as a lame excuse and a ruse to brazenly save the corrupt and extend political patronage to people and organisations involved in acts of corruption and criminality,” BJP Rajya Sabha member G V L Narasimha Rao said.He said Trinamool leaders and the Gandhi family of Congress were facing probe in “corruption” cases and it has led to a “convergence of their interests” with Naidu.He alleged a new “coalition of the corrupt parties” was taking shape in the country and the BJP would raise this issue at all political platforms to expose the corrupt deeds of what he dubbed as the newly-minted “Grand Corrupt Alliance” (GCA).Opposition parties in Andhra Pradesh also decried the move and asserted that the state government did not have the authority to bar the CBI.The principal opposition YSR Congress alleged the controversial decision was taken only because the chief minister was scared of the CBI.The ban order was issued at a time when the YSRC has requested President Ram Nath Kovind and Union Home Minister Rajnath Singh for a “third party investigation” into the attack on Leader of Opposition Y S Jaganmohan Reddy, he said.CPI state secretary K Ramakrishna also questioned the state governments authority in prohibiting the functioning of CBI.The Congress, however, said the Andhra government’s decision shows that states do not have faith in the CBI and other central agencies due to their “misuse” by the Modi government.”Unfortunately in the last four-five years they (central agencies) have been treated like private armies of (BJP chief) Amit Shah and the prime minister… That is why people doubt the ability of CBI to act independently or to act without pressure,” the Congress spokesperson Pawan Khera saidAam Aadmi Party chief and Delhi Chief Minister Arvind Kejriwal too backed Naidu, saying the Modi government was misusing the CBI and the Income Tax department.

from Economic Times https://ift.tt/2BbWT1S

Essar lenders seek dismissal of two applications against ArcelorMittal

MUMBAI: The committee of creditors in the Essar Steel bankruptcy case has sought the dismissal of two applications that could potentially delay debt resolution at the stressed steelmaker, for which ArcelorMittal has been chosen the winner by the lenders.The interlocutory application, moved before NCLT Ahmedabad in this case, is generally used to seek urgent relief, or to bring fresh facts to the court’s knowledge.The committee has also sought day-to-day hearing of other such applications, filed by operational creditors. A group of 30 vendors, who had supplied goods and services to Essar, came together to petition the NCLT’s Ahmedabad chapter asking for their dues worth more than Rs 600 crore. These dues are not promised to be repaid in the ArcelorMittal plan.“….The application filed by the resolution professional of GPI Textiles is not maintainable,” the committee of creditors said in its submission before NCLT, citing a Supreme Court judgement. The committee is represented by law firm Shardul Amarchand Mangaldas.ArcelorMittal’s expected acquisition of Essar Steel could face a further challenge over unpaid dues at GPI Textiles, a company promoted by LN Mittal’s brothers Pramod and Vinod Mittal, ET had reported on November 2.The Insolvency and Bankruptcy Code (IBC) stipulates that promoters of defaulting companies and people “connected” to them are barred from participating in bids for stressed assets.“The contention that Arcelor is obliged to clear the amounts overdue from GPI Textiles is contrary to the… SC Judgement…and, therefore, ought to be rejected…,” CoC said in the application. ET has reviewed the detailed application filed by the lenders.Jalesh Grover is the resolution professional of GPI Textiles, and is represented by Nipun Singhvi, an Ahmedabad-based lawyer.Essar Steel promoters also filed a caveat earlier this week, which works as a legal caution as well as buys the petitioner the right to be heard before a final order is given.“It is submitted that the purported settlement proposal is nothing but another subterfuge being adopted by the promoters of the corporate debtor to derail the resolution process,” said the CoC application.The 15-month-long battle for Essar Steel had seemed to reach a conclusion when the lenders almost unanimously voted in favour of ArcelorMittal’s resolution plan on October 25. The plan promised Rs 42,000 crore to creditors on outstanding debt of Rs 49,000 crore as well as an additional Rs 8,000 crore infusion in the company, taking the total offer to Rs 50,000 crore.However, hours later, the Essar Steel promoters made a Rs 54,000-crore counter offer that seeks to pay back all creditors in full.“It is expedient that all the concerned parties are issued direction to complete pleadings in an expeditious and time-bound manner so that the Plan Application and other related aspects/objections with respect to maintainable applications are heard expeditiously on a day to day basis,” the application said.The GPI Textiles and Essar Steel approval plans will be heard on November 28 by the NCLT.

from Economic Times https://ift.tt/2TjPVPe

Some public sector banks mull subsidising MSME portal registration fee

There is no fee for registration, but once a lender approves the loan, the borrower will have to pay a fee of Rs 1,180, including taxes and services charges.

from Startups-Small Biz-Economic Times https://ift.tt/2Pxh3fC