Let's count the events of the day

1. Rice Harvest In India Seen At Record As State Prices Increased


The monsoon-sown harvest may gain 10 percent in the year beginning July 1 from 90.8 million metric tons a year earlier, said Tarsem Saini, president of the Federation of All India Rice Millers Association. An end to a three-year ban on exports last year and a forecast for normal rain will spur farmers to increase planting, he said. The monsoon crop, sown from this month, accounts for about 80 percent of annual output.

http://www.bloomberg.com/news/2012-06-26/rice-harvest-in-india-seen-at-record-as-state-prices-increased.html

2. Morgan Stanley Downgrades RIM On ‘Deteriorating’ Outlook


Research In Motion Ltd. (RIM), the struggling maker of the BlackBerry smartphone, fell the most since May after Morgan Stanley (MS) downgraded the stock, citing “rapidly deteriorating fundamentals.”


“The only way RIM remains a viable entity is at a fraction of its current size, a transformation that erases much of its earnings power,” Ehud Gelblum, an analyst at Morgan Stanley in New York, wrote in a note to investors today. He cut RIM’s recommendation to underweight, a negative rating, from equalweight, the equivalent of a hold.


3. Nissan India Partner Thinks Small To Close Tata Gap

Ashok Leyland Ltd. (AL), India’s second- biggest truckmaker, is adding small goods carriers and expanding overseas to claw back market share lost to Eicher Motors Ltd. (EIM) and Tata Motors Ltd. (TTMT)
Nissan Motor Co. (7201)’s Indian partner, which reported its smallest gain in sales in three years in the 12 months ended March 31, plans to add 25 models in the year that began April 1, Vinod Dasari, the company’s managing director said in an e- mailed response to questions. The company last year began selling the small carrier Dost, which means friend in Hindi.

Daimler, Navistar:


Daimler, the world’s biggest truckmaker, this year opened a factory to build carriers ranging from six tons to 49 tons in India. Daimler will unveil 17 models by 2014, and the factory will be able to initially produce 36,000 trucks a year, Daimler said in April.

Mahindra partnered Navistar International Corp. (NAV) in 2005 to build trucks, while Volvo AB, the world’s No. 2 truck maker, invested $275 million in a venture with Eicher to make vehicles in India in 2008.

http://www.bloomberg.com/news/2012-06-25/nissan-india-partner-thinks-small-to-close-tata-gap.html

Worth Reading:


That’s Bhendi Bazar in 2014http://www.mumbaimirror.com/index.aspx?page=article&sectid=15&contentid=200908282009082804230495389a185fa

Let's count the events of the day!

1. Starbucks To Open Tazo Tea Store

Starbucks Corp. (SBUX), the world’s largest coffee-shop operator, will open its first tea-only store in October under the Tazo brand.

The shop will sell more than 80 varieties of loose-leaf tea, which will be priced by the ounce, said Holly Hart, a spokeswoman for Seattle-based Starbucks. While there are no immediate plans to open more stores, the company may consider additional Tazo shops “if we see another opportunity where a location is the right fit,” Hart said.

www.bloomberg.com/news/2012-06-20/starbucks-to-open-tazo-tea-store.html

2. Cable TV digitisation put off by four months till October 31 

The much-trumpeted digitalisation of cable TV services in four metros will now have to wait for four months beyond July 1, when it was originally scheduled to be introduced.
The decision to defer the plan for switchover from analogue to digitised signals was announced by the government on Wednesday as it was found that the metros of Delhi, Mumbai, Chennai and Kolkata were not ready for it.
"The ministry of information and broadcasting has decided to modify the 30th June deadline for a complete switch over to 31st October 2012," a statement issued by the I&B ministry on Wednesday said.

http://ibnlive.in.com/news/cable-tv-digitisation-put-off-by-four-months/267098-3.html

3. RBI gives nod for white label ATMs

The Reserve Bank of India has decided to permit non-bank entities to set up, own and operate automated teller machines (ATMs).
Such non-bank entities should have a minimum net worth of Rs 100 crore as per the latest financial year’s audited balance sheet, which is to be maintained at all times.

Non-bank entities that intend setting up, owning and operating ‘White Label ATMs’ (WLAs) would service customers of banks in India, based on the cards (debit/ credit/prepaid) issued by banks, the RBI said.

http://www.financialexpress.com/news/rbi-gives-nod-for-white-label-atms/964687/

4. Odisha starts transferring 1,500 acres to Posco

After seven years of delay, the Posco steel project will start rolling soon as Odisha has started transferring around 1,500 acres to the Korean steel major to set up an 8-million tonne plant in the first phase, Odisha Steel and Mines Minister Raghunath Mohanty said today.

http://www.financialexpress.com/news/odisha-starts-transferring-1-500-acres-to-posco/964498/

5. Kristen Stewart Tops Our List Of The Highest-Paid Actresses - Forbes

for the last two Twilight films, Stewart has been able to demand an estimated $12.5 million per film, plus a share of the profits.Her two co-stars, Robert Pattinson and Taylor Lautner, get paid the same, but Stewart earned more than them this year because of Snow White and the Huntsman. Stewart’s earnings between May 2011 and May 2012 totaled $34.5 million, helping her rank 43rd on our Celebrity 100 list. (The list measures a combination of money and fame.)

http://www.forbes.com/sites/dorothypomerantz/2012/06/19/kristen-stewart-tops-our-list-of-highest-paid-actresses/



That's all for today folks!


p.s. Did I miss something important? Inform me using the comment section Beellloooww or on Facebook, Twitter or Google Plus.

Let's count the events of the day

1. Fiat, Tata Motors, Maruti may shut down plants temporarily

With vehicle sales continuing to dwindle due to high interest rates and petrol prices, many automobile manufacturers in India are planning to shut down their plants temporarily to reduce inventories.

While Fiat India is considering shutting down plant for a few days next month, Tata Motors will stop production of commercial vehicles at Pune for three days this week.

http://www.hindustantimes.com/News-Feed/Auto/Fiat-Tata-Motors-Maruti-may-shut-down-plants-temporarily/Article1-875094.aspx

2. Pakistan’s Gilani Disqualified As Premier After Ruling

Pakistan’s political strains escalated after the Supreme Court disqualified Prime Minister Yousuf Raza Gilani from the job because of a contempt conviction.

Gilani, censured by the court over failure to pursue corruption charges against President Asif Ali Zardari, was disqualified retroactive to April 26, 2012, according to an e- mailed statement from the Election Commission of Pakistan yesterday. Gilani’s party will respond after speaking with its coalition partners, Jehangir Badar, its secretary general, said at a news conference in Islamabad yesterday.

http://www.bloomberg.com/news/2012-06-19/pakistan-s-top-court-rules-gilani-ineligible-to-be-premier-1-.html

3. Wikileaks Founder Turns To Chavez Ally Ecuador For Asylum

Julian Assange sought asylum in Ecuador’s Embassy in London yesterday to avoid what he says are U.S. efforts to punish him for releasing diplomatic secrets through his Wikileaks website.

Ecuador is studying the request and is in contact with the U.K. government, the Andean country’s Foreign Minister Ricardo Patino told reporters in a brief statement in Quito. Assange entered the embassy in the Knightsbridge area of London after exhausting options in U.K. courts to avert extradition to Sweden, where he faces two counts of rape.

The move threatens to widen the breach between Ecuador, a member of the Venezuelan-led group of nations known as ALBA, and the U.S., just as Ecuador seeks renewal of trade benefits due to expire next year. The Andean country may grant Assange asylum to spite the U.S., prioritizing political gains over strategic interests, said Christopher Sabatini, senior policy director of the Council of the Americas.

http://www.bloomberg.com/news/2012-06-20/wikileaks-founder-turns-to-chavez-ally-ecuador-for-asylum.html

4. Renault to begin taking orders for Duster by June end

Duster, the heavily anticipated Sports Utility Vehicle (SUV) from Renault, is all set to be launched in the Indian auto market in June 2012 and the French car maker is gearing up to commence bookings a month in advance. The model, considered as the perfect blend of space, ruggedness and stability, is expected to kick-off a new scenario of competitive pricing in the SUV segment of the Indian auto industry. After the failure of its earlier premium offerings, including Fluence, Koleos and Pulse, Renault is readying itself to try its luck in India with the launch of its big and efficient SUV, Duster.

http://www.cartrade.com/car-bike-news/renault-to-begin-taking-orders-for-duster-by-june-end-117517.html

5. Lava launches XOLO X900

Lava mobile has launched the first intel powered android smart phone, which retails at 22,000.

6. Anushka Sharma appointed brand ambassador for TVS Scooty range

TVS Motor Company has signed on Bollywood actor Anushka Sharma as brand ambassador for its TVS Scooty range. Sharma will be the face of all brand campaigns related to the range.

H S Goindi, president, marketing, TVS Motor Company, said, “Anushka Sharma was an immediate choice for the TVS Scooty brand. She is well known for being spunky with her distinctive style and is an icon for young girls in India. She is seen by young women as one who is living her goals of being vivacious, independent and successful. We are confident that this association will further enhance the popular TVS Scooty Brand. ”

Sharma had previously worked in a TVS Scooty campaign in 2005.

http://www.campaignindia.in/Article/304516,anushka-sharma-appointed-brand-ambassador-for-tvs-scooty-range.aspx

Let's Count The Events Of The Day

1. Microsoft Unveils Tablet Computer Called Surface, Taking On IPad

                                                                                        (courtsey: Bloomberg)




Microsoft Corp. (MSFT) unveiled its own Windows-powered tablet computer called Surface, altering its strategy of focusing on software and relying on partners to make the machines in a renewed attempt to take on Apple Inc. (AAPL)’s iPad.
The tablet has a 10.6-inch display and will run the new version of Microsoft’s operating system, Chief Executive Officer Steve Ballmer said at an event yesterday at Milk Studios in Los Angeles. The device’s cover serves as a full keyboard with a track pad. Surface will be available later this year.

The company wants to release Windows 8, the new version of its software that is optimized for touch-screen tablets, in time for the end-of-year holidays and will have a version for x86 chips from Intel Corp. and for ones based on ARM Holdings Plc’s technology, which is also used in the iPad. The Surface tablet will be available in versions running both chip designs.

http://www.bloomberg.com/news/2012-06-19/microsoft-unveils-surface-tablet-computer-taking-on-ipad-1-.html


2. Emami restrained from broadcasting 'Navratna oil' advt

The Delhi High Court on Monday restrained Emami Limited a health and personal care product company from broadcasting an advertisement for its Navratna Oil brand on a plea filed by GK Burman Herbal (India) Private Limited. The latter had alleged that the TV commercial ‘degrades and disparages’ a similar product manufactured by the company.

The interim order of the High Court came on plea filed by leading Ayurvedic Oil Manufacturer, Burman Herbal, seeking a permanent injunction on circulation, or distribution of the advertisement which allegedly defamed and maligned its product, Himgange Ayurvedic Oil.

In its plea, Burman Herbal India (pvt) Ltd said, "The defendant (Emami) has knowingly and fraudulently issued the said advertisement to harm the immense goodwill and reputation which the plaintiff has earned in the last 25 years of the existence of its said product with the sole motive of driving out healthy competition from the market and to make illegal and unlawful gains."

http://www.lawetalnews.com/article/631/Emami-restrained-from-broadcasting-Navratna-oil-advt.htm

3. CCD founder acquires additional 3.84% stake in MindTree

 

CCD founder VG Shiddhartha has acquired additional 3.84% stake in MindTree . He raised his stake to 21.63% in the company, reports CNBC-TV18.



4. India Unexpectedly Holds Rate As Inflation Curbs Easing: Economy

India unexpectedly left interest rates unchanged as the fastest inflation among the biggest emerging markets narrows scope to bolster an economy struggling with trade and budget deficits and Europe’s debt turmoil.

Governor Duvvuri Subbarao left the benchmark repurchase rate at 8 percent, the Reserve Bank of India said in a statement in Mumbai today. Only four of 25 economists in a Bloomberg News survey predicted the outcome, with 19 expecting a 0.25 percentage-point cut and the remainder a half-point reduction.

Hours after the decision, Fitch Ratings cut India’s sovereign credit outlook to negative, joining Standard & Poor’s in signaling the country is at risk of losing its investment grade rating on concern growth will deteriorate. Subbarao’s room to counter the weakest Indian economic expansion in almost a decade is being limited in part by a plunge in the rupee, which has stoked an inflation rate already above 7 percent.

http://www.bloomberg.com/news/2012-06-18/india-unexpectedly-holds-rate-as-surging-prices-curb-cut-scope.html

5. Facebook Buys Face.com

Facebook has acquired Face.com, the facial recognition software company whose products power Facebook's photo tagging suggestions, according to a blog post.

Rumors of the acquisition began to circulate in late May.

Face.com also provides branded Facebook apps. Photo Tagger is very similar to the native Facebook app, while Photo Finder, the company's first app, helps users find untagged photos of themselves. Face.com offers an API (application programming interface) that powers third-party apps including CelebrityFindr, which allows users to search for photos of celebrities on Twitter using facial recognition technology.

http://www.cio.in/news/facebook-buys-facecom-272932012#

Let's count the events of the day

1. Rajat Gupta Convicted of Insider Trading

Rajat K. Gupta, the retired head of the consulting firm McKinsey & Company and a former Goldman Sachs board member, was found guilty on Friday of conspiracy and securities fraud for leaking boardroom secrets to a billionaire hedge fund manager.

He is the most prominent corporate executive convicted in the government’s sweeping investigation into insider trading.

The case, which caps a wave of successful insider trading prosecutions over the last three years, is a significant victory for the government, which has penetrated some of Wall Street’s most vaunted hedge funds and reached into America’s most prestigious corporate boardrooms.

http://dealbook.nytimes.com/2012/06/15/rajat-gupta-convicted-of-insider-trading/

Native name রজত গুপ্ত
Born Rajat Kumar Gupta
2 December 1948 (age 63)
Kolkata, West Bengal, India
Residence Westport, CT, USA
New York, NY, USA
Colorado, USA
Palm Island, FL, USA
Ethnicity Indian American
Citizenship United States
Alma mater IIT Delhi
Harvard Business School
Occupation Consultant, Management expert
Employer McKinsey & Company, Inc.
Net worth $100 million+ [1]
Title Senior Partner Emeritus and former Worldwide Managing Director

http://en.wikipedia.org/wiki/Rajat_Gupta



2. Wozniak calls Siri 'Poo-Poo'

"A lot of people say Siri. I say poo-poo," Wozniak said. "I was using it to make reservations long before Apple bought it."
"I would say, 'Siri, what are the five largest lakes in California?' and it would come up, one, two, three, four, five. And I would ask 'What are the prime numbers greater than 87?' and they would come up all in a row. That was pretty incredible," Wozniak said.
He said he told family and friends about Siri and how "This was the future: speaking things in normal ways, feeling like you're talking to a human and how Siri was the greatest program," Wozniak said.
"Then Apple bought Siri," he said. He then paused, lifted his right hand and gave it a big thumbs down.
"'What are the largest lakes in California?' I'd get all these lakefront properties. And I'd say 'What are the prime numbers greater than 87?' And I'd get prime rib," Wozniak said.
"I'm really disappointed, but it's still a market for the future," Wozniak said. "I think voice recognition for all the platforms is going to get better and better and better at putting together complete sentences and phrases. What did a human really mean? Like, if you said 'Five, I mean six.' It will understand a backup, the little faults in our speech that humans understand. It will understand that eventually."
Wozniak also said he is enthusiastic about Apple's new application called Passbook, which can essentially turn a user's iPhone into a digital wallet, storing coupons, store loyalty cards, airport boarding passes and movie tickets.

http://www.timesunion.com/local/article/Woz-gallops-in-to-a-horse-s-rescue-3630212.php#ixzz1y7ThxI8x
Years active 1973-2007



3. Microsoft to sell tablets under own brand

Microsoft Corp. plans to sell a tablet running the next version of the Windows operating system under its own brand, a major departure from its strategy of partnering with computer makers, according to a person familiar with the plans.

The Redmond, Wash., company may demonstrate the device at an event scheduled in Los Angeles Monday, said the person, who asked not to be identified because the plans haven't been made public. The company has said it intends to release the Windows 8 operating system in time for the holiday season.


http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/06/17/BU3D1P2OVN.DTL#ixzz1y7TxtHqy


4.Victoria Beckham planning to open boutique in Beijing

London: Singer-turned-fashion designer Victoria Beckham is planning to take her fashion line East by opening an online store and some boutiques in China.
The 38-year-old former Spice Girl, who raises four kids with husband David Beckham, said the idea is still in the early stages but she is hoping to take her designs to the stylish crowd in the country's capital, reported Contactmusic.

"We are just researching the idea of an online store at the moment, but I really like Beijing. I think the women there are fashionable. I already sell some clothes there but maybe one day I'll have boutique stores there. That is something I am hoping for," she said.


5. Lady Gaga's perfume leaked online


London: Pop star Lady Gaga was forced to unveil her first perfume on Twitter after photos of the bottle leaked online.
Pictures of the "Poker Face" star's first fragrance, Fame, surfaced online after which she had to tell her fans all about the scent and share her own pictures of the bottle and packaging, reported Contactmusic.

"Looks like photos of my perfume are being leaked. Oh you fashion editors I could just crinkle my hands at you," Gaga said.

When one follower asked if she plans to release a men's version, Gaga added, "My perfume was designed for women, but a lot of my gay (male) friends wear it."

Fame, which will go on sale later this summer, contains notes of "belladonna, crushed heart of tiger orchidea with a black veil of incense, pulverized apricot and the combinative essences of saffron and honey drops".

http://www.financialexpress.com/news/lady-gagas-perfume-leaked-online/962334/

6. JWT acquires controlling stake in Hungama Digital Services


Leading advertising agency JWT today said it will acquire a majority stake in digital services agency Hungama Digital Services for an undisclosed amount.
The exact shareholding pattern of the company was not revealed.

According to terms of the agreement, Hungama's activations arm, Hungama Promo Marketing, will become a part of Hungama Digital Services and will provide an engagement platform linked to online and offline deliveries, the companies said in a joint statement issued here.

http://www.financialexpress.com/news/jwt-acquires-controlling-stake-in-hungama-digital-services/961595/

7. News Corp buys ESPN Star Sports stake

News Corporation and ESPN today announced an agreement, under which a unit of the USD 61 billion global media company will buy the latter's 50 per cent equity stake in ESPN STAR Sports (ESS).
The transaction will allow News Corporation units to own and operate all of the ESS businesses while providing ESPN more independence and flexibility in future support of The Walt Disney Company's overall efforts in Asia, a media release said.

"After 16 years jointly managing ESS, we have decided to independently pursue future"

http://www.financialexpress.com/news/news-corp-buys-espn-star-sports-stake/958619/