Silicon Valley gets a reality transfusion

Silicon Valley is driven by economic power, and the ability to transmute hard science into fortunes. But its real fuel is stories, and the quintessential American desire to believe. Apple founder Steve Jobs showed that quixotic sounding ideas sometimes become reality thanks to capital, effort and acquired knowledge. Theranos founder Elizabeth Holmes, meanwhile, showed sometimes they don’t.

Socialism sans trappings okay

Indian dichotomy is evident on socialism. According to a global survey by Ipsos, majority of Indians endorse ideals of socialism and its benefits (free education, healthcare and basic income), without its trappings in personal freedom, political oppression and protectionism in markets.

Seventy two per cent Indians believe socialist ideals are of considerable value for societal progress.

Apple-Samsung iPhone design copying case goes to jury

Jurors return to a Silicon Valley courtroom Monday to put a price on patented iPhone design features copied by Samsung in a legal case dating back seven years. Apple is seeking slightly more than a billion dollars in damages, while Samsung wants a figure closer to $28 million.

The jury has been asked to determine whether design features at issue in the case are worth all profit made from Samsung smartphones that copied them or whether those features are worth just a fraction because they are components.

US woos Indian investments

Precisely at the same time when the Narendra Modi government is reportedly dragging the US to the dispute settlement mechanism of the World Trade Organisation (WTO) over the vexed issue of imposition of import duties on steel and aluminium, the Trump administration is wooing as many Indian businessmen and industrialists as possible to attend the 2018 SelectUSA Investment Summit, to be held between June 20 and 22 at the Gaylord National Resort and Convention Centre near Washington DC.

To counter Walmart, Amazon goes where no retailer has gone

Abdul Gafur Khatri lives on the fringe of gr­e­at salt ma­rshes in far western Ind­ia. He doesn’t own a smartp­hone. He’s never surfed the web. Still, the 53-year-old th­i­nks the internet may be his last ho­pe of reviving a fa­ding art ca­lled Rogan th­at’s been pa­ssed down thro­u­gh 8 generations of his family. “If I can sell online, dem­a­nd will go up,” says the artisan, one of the last living cu­stodians of a sk­ill that uses gummy, co­lou­red pastes to paint intricate motifs on cloth.

House panel to quiz RBI governor on frauds today

Urjit Patel, Reserve Bank of India (RBI) go­v­ernor, will inform the parliamentary standing committee on finance on Thursday about the steps taken by the central bank as regulator and supervisor of the banking sector to check increasing number of frauds and rising non-performing assets (NPAs) in the sector.

During the appearance before the House panel, the governor is expected to respond to queries from members of Parliament on recent bank frauds, including the Nirav Modi case, and mounting NPAs, sou­rces said.

Infy sets up blockchain trade network in India with seven banks

Infosys has set up India Trade Connect, a bloc­kc­ha­in-based trade network in India, in partnership with seven lenders, including Axis Bank, ICICI Bank, Indus­Ind Bank and RBL Bank. The other partner banks include Kotak Mahindra Ba­nk, South Indian Bank and Yes Bank.

“The network is being us­ed by the banks to run a successful pilot of Finacle Trade Connect, a blockchain technology based solution developed specifically to address the trade finance process requirements of banks,” Infosys said in a statement.

Justice Chelameswar not to sit with CJI Misra on Friday

Justice J Chelameswar, who refused a farewell on his last working day on Friday, hosted by the Supreme Court Bar Association, has decided not to sit with the Chief Justice of India Dipak Misra on that day in First court hall.

According to the ‘causelist’ for Friday Justice Chelameswar will sit with Justice Sanjay Kishan Kaul in court hall 2. Though Justice Chela-meswar will formally retire on June 22, as the last working day for him falls during summer vacation, his last sitting in the court is May 18.

Your FB posts can put you in a spot

Think twice before you forward a Facebook post or a WhatsApp message that may hurt religious sentiments or is offensive to a community. It may land you in trouble.

Hearing the bail plea of actor-turned-politician S.Ve. Shekher for sharing a Facebook post containing derogatory remarks about women journalists, the Madras High Court has observed that such message forwarded on social media amounted to accepting and endorsing it.