Let’s count the events of the day

 

1. Just Dial to raise up to $174 million through IPO

Just Dial said on Monday it will raise up to Rs. 950 crore through an initial public offer, which is scheduled to be launched on May 20.

The Mumbai-based local search firm, which is backed by Sequoia Capital and Tiger Globe, will sell 17.5 million shares priced between Rs. 470 and Rs. 543 each, it said in a statement.

2. Dabur India set to expand portfolio in Middle East region

DUBAI: Indian major Dabur is set to broaden its current product portfolio in the Middle East region, looking to expand geographically and increase its penetration across various ethnic groups, a media report has said.

Dabur is focusing on its Middle East operations this year, with a strategic launch of a new face care range, natural hair colour creme and an innovative deodorant range for teenagers, the Khaleej Times report said.

Source: http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/dabur-india-set-to-expand-portfolio-in-middle-east-region/articleshow/20027515.cms

3. JLR opens new engineering test centre in Dubai

NEW DELHI: Tata Motors-owned Jaguar Land Rover today said it has opened a new engineering test centre in Dubai to conduct extreme hot weather vehicle research, development and testing.

Source: http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/jlr-opens-new-engineering-test-centre-in-dubai/articleshow/20026289.cms

4. Maruti Gypsy to be phased-out from Army, Mahindra Scorpio & Tata Safari in race to fill gap

The Indian Army has decided to phase-out Maruti Gypsy from its inventory with Mahindra Scorpio and Tata Safari in the race to replace the vehicle under a project expected to cost the force more than Rs 3,000 crore.

The Indian Army is the biggest customer of the Maruti Gypsy utility vehicles with more than 25,000 such vehicles in service and uses them in all light vehicle operations including counter-terrorist and counter-insurgency operations.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/maruti-gypsy-to-be-phased-out-from-army-mahindra-scorpio-tata-safari-in-race-to-fill-gap/articleshow/19990741.cms

Worth reading: http://www.reuters.com/article/2013/05/12/net-us-google-social-idUSBRE94B04W20130512

Let’s count the events of the day

 

Alibaba Seen Avoiding Facebook Flop With IPO Below $100 Billion

(Jack Ma, Founder, Alibaba)

Alibaba Group Holding Ltd. doesn’t want to be the next Facebook Inc. -- at least for its prospective initial public offering. The world’s biggest online retailer is considering a more conservative valuation than what the social-networking company achieved last year, a person familiar with the situation said.

Ma, the executive chairman, said last year the company may go public within five years. Jonathan Lu will replace Ma as chief executive officer in May. It’s not known how much of the company might be listed.

Source: - http://www.bloomberg.com/news/2013-05-05/alibaba-seen-avoiding-facebook-flop-with-ipo-below-100-billion.html 

'Iron Man 3' has second best box office debut in history

Super-hero blockbuster sequel "Iron Man 3" smashed to the top at the US box office with a mega $175.3 million take -- the second best opening weekend ever -- industry estimates showed Sunday.

Source: AFP

Nano's downhill drive continues, just 948 units sold in April

Amid a slowdown of automobile market in India, Nano sales declined over 88 per cent during the month compared to 8,028 units sold in April last year, according to the information provided by Tata MotorsBSE 1.95 % to the BSE.

Source: http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/nanos-downhill-drive-continues-just-948-units-sold-in-april/articleshow/19892833.cms

Meanwhile, Apache has crossed the one million mark. TVS, The Chennai-based company, launched the motorcycle equipped with a new Race-To-Response engine in 2006. Currently, it is being exported to more than 20 countries.

The Reserve Bank has allowed Tata Communications Payment Solutions, a subsidiary of Tata Communications, to set up and operate White Lable ATMs in the country.

White label ATMs – ATMs set up by parties other than banks.

 

Malabar Gold to open 220 stores across the globe by 2015

Kerala-based jewellery retailer Malabar Gold plans to open 220 stores across the globe by 2015 including South Asia and far East countries, a company official said today.

Jhunjhunwala buys 25 lakh SpiceJet shares, stock zooms

Shares of low-cost carrier SpiceJet today soared on bourses after big bull Rakesh Jhunjhunwala’s wife Rekha bought 25 lakh shares of the company on Friday.

Source: http://www.firstpost.com/investing/jhunjhunwala-buys-25-lakh-spicejet-shares-stock-zooms-754419.html

Infiniti Retail to launch ‘Croma’ 3G tablets in 2 weeks

Tata group firm Infiniti Retail, which runs ‘Croma’ chain of consumer electronics and durables stores, is planning to expand its range of private label items by introducing 3G-enabled tablet within next two weeks and high-end refrigerators by Diwali this year.

The company has already started offering affordable range of Croma-branded smartphones, which are sourced from China.

Source: http://www.firstpost.com/tech/infiniti-retail-to-launch-croma-3g-tablets-in-2-weeks-754161.html

Jet sells 24% to Etihad for Rs2,060 cr

The Naresh Goyal-promoted Jet Airways on Wednesday became the first Indian airline to sell a stake to a foreign carrier since last year’s relaxation in foreign direct investment rules. The company’s board approved a decision to allot 2.73 crore shares on a preferential basis to Abu Dhabi’s Etihad Airways for around R2,060 crore ($379 million). It was in September 2012 that the government allowed foreign carriers to buy up to 49% in Indian airlines.

Earlier, a proposal to start a new airline by Malaysia’s AirAsia and the Tata Group was cleared by the Foreign Investment Promotion Board.

The deal values Jet at nearly R8,500 crore, which is nearly double its market capitalisation of R4,954 crore as per Tuesday’s closing price. After the allotment, Etihad will hold a 24% stake in Jet while promoters will continue to hold 60.80% stake. Shares will be allotted at R754.73 each, a 31% premium to Tuesday’s closing price of R573.85 on the BSE.

Source: http://www.financialexpress.com/news/jet-sells-24-to-etihad-for-rs2060-cr/1107099

Bharti Gets $1.26 Billion Investment From Qatar Foundation

Bharti Airtel Ltd. (BHARTI), India’s largest mobile-phone operator, will sell a 5 percent stake to the Qatar Foundation Endowment for $1.26 billion after the carrier posted quarterly profit that missed estimates.

Bharti will issue 199.9 million new shares to the Qatar endowment at 340 rupees ($6.3) each, according to an e-mailed statement from the New Delhi-based company. That’s 7.3 percent higher than yesterday’s closing price. The stock closed 0.3 percent higher after climbing as much as 4.7 percent in Mumbai.

Source: Bloomberg

Intel CEO-Designate Krzanich Plans Faster Shift to Mobile

http://www.bloomberg.com/news/2013-05-03/intel-ceo-designate-krzanich-plans-faster-shift-to-mobile-chips.html

Tata Housing announces first housing project for senior citizens, called Riva.

Worth Reading:

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/pg-takes-away-some-work-from-india-to-cut-down-on-outsourced-it-work/articleshow/19903428.cms

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/techno-classica-the-biggest-car-show-you-might-never-have-heard-of/articleshow/19893944.cms

http://economictimes.indiatimes.com/features/corporate-dossier/billion-dollar-team-how-micromax-is-gearing-up-to-touch-1-bn-mark/articleshow/19850080.cms

Let’s count the events of the day

 

1. Uninor appoints Yogesh Malik and the new CEO

 

“Norwegian telecom major Telenor's Indian arm Uninor today announced the appointment of Yogesh Malik as the firm's Chief Executive Officer (CEO).

The company added that Managing Director Sigve Brekke will step down as MD, but will continue to be responsible for all of Telenor affairs in India as the Head of Telenor Group's Asian operations.”

Source: http://economictimes.indiatimes.com/news/news-by-company/corporate-announcement/uninor-appoints-yogesh-malik-as-ceo-brekke-steps-down-as-md/articleshow/19830529.cms

 

2. Mercedes Benz to introduce five new models in India.

The company is all set to launch a diesel version of its B-Class , the new A-Class as well as the GL-Class over the next one month with the compact SUV GLA and 4-door coupe.

 

3. Honda Car India asked to pay a excise duty of 164 crores

The Central Boad of Excise and Customs has claimed that Honda Car India ought to have paid excise duty on the actual cost of production of the car and not on the discounted price.

These discounts were offered on Honda Brio and Honda Jazz.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/hondas-discount-offers-on-brio-jazz-under-cbec-scanner-asked-to-pay-rs-164-crore-more-as-excise-duty/articleshow/19793621.cms

 

4. Apple to Samsung Develop Smartwatch as Sony’s Time Passes

With growth slowing in the $358 billion handset market, Apple Inc. (AAPL) and Samsung Electronics Co. (005930) are developing digital watches that allow users to make calls, check map coordinates, or monitor their physical activity.
They might want to talk to Tokyo-based Sony Corp. (6758), whose feature-laden SmartWatch, on sale for more than a year, isn’t mesmerizing the masses.

Source: http://www.bloomberg.com/news/2013-05-02/apple-to-samsung-develop-smartwatch-as-sony-s-time-passes-tech.html

 

 

 

In other news:

Bankrupt investment bank Lehman Brothers has sued Intel Corp, accusing the chip maker of seizing $1 billion in collateral in breach of a swap agreement, a court filing showed.

 

Restaurants step up deals & discounts as footfalls drop after rise in menu rates

http://economictimes.indiatimes.com/news/news-by-industry/services/hotels-/-restaurants/restaurants-step-up-deals-discounts-as-footfalls-drop-after-rise-in-menu-rates/articleshow/19825478.cms

Consumer is the king: Supreme Court clears hurdles for FDI in retail

http://economictimes.indiatimes.com/news/news-by-industry/services/retail/consumer-is-the-king-supreme-court-clears-hurdles-for-fdi-in-retail/articleshow/19821412.cms

Asian Development Bank’s advisory for delegates visiting Indian for the annual meeting:

http://www.thehindubusinessline.com/news/adb-issues-dress-code-for-women-delegates/article4676117.ece

http://www.bloomberg.com/news/2013-05-02/unilever-wagers-billions-on-india-economic-revival.html

Let's count the events of the day

1. Mahindra Said To Consider Bidding For Hawker Beechcraft

Mahindra & Mahindra Ltd. (MM), India’s biggest maker of utility vehicles, is considering bidding for Hawker Beechcraft Inc., the bankrupt aircraft maker part owned by Goldman Sachs Group Inc. (GS), a person with knowledge of the matter said.

Hawker would fit well with Mahindra because both produce turboprop aircraft, said the person, who asked not to be identified because the deliberations are private. The Mumbai- based company has not decided whether to make an offer, the person said. Roma Balwani, a spokeswoman for Mahindra, said the company doesn’t comment on speculation.

Mahindra, which purchased majority stakes in component maker Aerostaff Australia and turboprop aircraft manufacturer Gippsland Aeronautics in 2009, has been in talks with India’s National Aerospace Laboratories on possibly partnering for a regional jet. A successful bid for the business jet-maker will catapult Mahindra into the aerospace market as a manufacturer, according to Dhiraj Mathur of PricewaterhouseCoopers LLP.

2. Apple Said To Plan Smaller IPad To Vie With Google Nexus

Apple Inc. (AAPL) plans to debut a smaller, cheaper iPad by year-end, two people with knowledge of the plans said, to help maintain dominance of the tablet market as Google Inc. (GOOG) and Microsoft Corp. (MSFT) prepare competing handheld devices.
The new model will have a screen that’s 7 inches to 8 inches diagonally, less than the current 9.7-inch version, said the people, who asked not to be identified because Apple hasn’t made its plans public. The product, which Apple may announce by October, won’t have the high-definition screen featured on the iPad that was released in March, one of the people said.

3. Coke’s $3bn to add fizz to India presence

Coca-Cola is escalating the beverage wars in India, announcing a $3bn investment intended to help it overtake PepsiCo in one of the few countries where it trails its rival.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html#ixzz1zirgCzwt

The move marks the acceleration of Coke’s commitment to India, superseding last year’s plan to invest $2bn over five years. That is as much as Coke invested in the country between 1993 and 2011.

Source: http://www.ft.com/intl/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html

4. Former CEO Bob Diamond admits 'mistakes' at Barclays, says fast action taken

Former Barclays chief executive Bob Diamond criticised "reprehensible" behaviour over a rate-fixing scandal in a tense appearance before British lawmakers Wednesday, the day after he quit the bank.

Diamond added that while there had been "mistakes" at the lender, swift action was taken to tackle traders' attempts to manipulate key inter-bank lending rates.

"Clearly there were mistakes, clearly there was behaviour that was reprehensible," Diamond told the British parliament's Treasury Select Committee.

Barclays chief operating officer Jerry del Missier also resigned Tuesday over the affair, while the bank's chairman Marcus Agius quit on Monday.

Last week, the bank was fined £290 million ($455 million, 360 million euros) by British and US regulators for the attempted rigging of the Libor and Euribor interest rates.

Libor (London Interbank Offer Rate) is a flagship London instrument used as an interest benchmark throughout the world, while Euribor is the eurozone equivalent.

The rates play a key role in global markets, affecting what banks, businesses and individuals pay to borrow money.

Let's count the events of the day

1. Apple Pays $60 Million To End China IPad Dispute With Proview

Apple Inc. (AAPL) paid $60 million to settle a two-year-old legal dispute with Proview International Holdings Ltd. (334) regarding the iPad trademark in China.

The terms of the settlement agreement were reached on June 25 and Apple has transferred the funds as agreed, the Higher People’s Court of Guangdong Province announced in a statement on its website today. Apple spokeswoman Carolyn Wu didn’t immediately return calls to her office and mobile phones.

The dispute had centered on whether Proview’s Taiwan unit, which Apple paid 35,000 pounds ($54,800) in 2009 to use the iPad name in mainland China, had the right to sell it or whether that rested with Proview’s Shenzhen unit, which held the mark. Apple sued Proview Shenzhen in 2010 claiming ownership of the iPad trademark in China and lost. Its appeal of that case was heard on Feb. 29, and the two sides had engaged in court-sponsored mediation since then.

Before the agreement, Proview had applied to Chinese customs to block shipments of Apple’s iPad tablets in and out of China, and asked local retailers to stop sales of the product.

http://www.bloomberg.com/news/2012-07-02/apple-pays-60-million-to-end-china-ipad-dispute-with-proview.html

2. Billionaire Rinehart Willing To Buy Back GVK Shares

http://resources0.news.com.au/images/2012/02/02/1226261/318196-120203-gina-rinehart.jpg

Australian billionaire Gina Rinehart, who sold a majority stake in her Hancock Prospecting Pty’s coal projects to India’s GVK Group last year, said she is happy to buy back shares in the venture if it needs funds.
“I have told GVK I would love to be in the project more,” Rinehart told reporters on a visit to the southern city of Hyderabad, where she meet officials of the group.

Foreign investors and banks have expressed an interest in the coal project, in which GVK owns a 79 percent stake and Hancock has 21 percent, said Rinehart, who is Asia’s richest woman. Her fortune is estimated at $18.4 billion by the Bloomberg Billionaires Index.

Foreign investors and banks have expressed an interest in the coal project, in which GVK owns a 79 percent stake and Hancock has 21 percent, said Rinehart, who is Asia’s richest woman. Her fortune is estimated at $18.4 billion by the Bloomberg Billionaires Index.

http://www.bloomberg.com/news/2012-07-01/billionaire-rinehart-says-she-s-willing-to-buy-back-gvk-shares.html

Background:

GVK, a Hyderabad  based company want to mine coal in Queensland's Galilee Basin, environement activists like Greenpeace say that it will destroy the local biodeiversity. Gina Rinehart a billionaire who made her riches in mining has a small stake in the mine.

3. AB InBev buys out Modelo for $20 bn

Brussels, London: Anheuser-Busch InBev, the world’s biggest brewer, will swallow the half of Grupo Modelo it does not already own for $20.1 billion in the latest in a string of deals by big brewers looking for growth in emerging markets.

Modelo, founded in 1925, is Mexico’s biggest brewer with a 50%-plus market share in a virtual duopoly with Heineken’s FEMSA Cerveza in the world’s fourth-most-profitable beer market. Corona is the biggest imported beer in the lucrative US market.

4. Nestle in talks to raise E7-billion acquisition loan

Nestle has been talking to banks about raising a new 7-billion-euro syndicated loan to help fund its $11.85-billion takeover of Pfizer Nutrition. Nestle said in late April the acquisition would be fully debt-financed through internal cash resources, existing facilities and the bond markets. The new loan would give Nestle enough liquidity until the deal is approved, which is expected to be in the first quarter of 2013, if the acquisition goes ahead.

http://www.financialexpress.com/news/ab-inbev-buys-out-modelo-for-20-bn/968510/0

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. 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/