Miscellany

Miscellany

TN seeks closure of Vendanta smelter

The Tamil Nadu government on Thursday said it was seeking a permanent closure of a big copper smelter run by London-listed Vedanta Resources after 13 people died in protests demanding the shutting of the plant on environmental grounds.

 

“The government’s position is very clear, it doesn’t want the plant to run,” said a top official of the district where the plant is located.

 

Father-son duo held for Rs 28 crore GST evasion

The central GST officers have arrested a father-son duo for tax evasion of Rs 28 crore by issuing fake invoices for claiming input tax credit.

This is the first arrest in the national capital under the new indirect tax regime. As the amount involved in the case is more than Rs 5 crore, it is a non-bailable offence. CGST Act says issuance of an invoice without supply of goods and wrongful availing of or utilisation of input tax credit is a cognizable and non-bailable offence if the amount involved is over Rs 5 crore.

Mobile payment firms struggle to dethrone cash in Southeast Asia

Bui Mai Phuong is an avid online shopper, ordering anything from clothing to personal-care products from her smartphone. But she prefers to pay with cash.

She is among hundreds of millions of people whom firms such as Softbank Group-backed Grab and China’s Tencent want to win over as they try to tap into Southeast Asia’s burgeoning internet sector.

More than 70 per cent of the region’s 600 million-plus people do not use banks – higher than the global average of about 30 per cent – and e-commerce is projected to hit $88 billion by 2025.

Tesla’s Musk admits Model 3 braking issue, promises fix

Tesla Inc Chief Executive Officer Elon Musk has sought to play down a report identifying “big flaws” in its Model 3 sedan, admitting there is a braking issue with the vehicle but saying it will be fixed with a software update within days.

Responding to a review by influential US magazine Consumer Reports, which stopped short of recommending the car, Musk said in a round of tweets late on Monday that the magazine’s tests – which used two separately-sourced vehicles – had been of older versions of the car that had already been improved upon.

India is the growth story: Karen Davidson

For Karen Davidson (in pic), the great-granddaughter of William A Davidson, one of the co-founders of the iconic motorcycle brand Harley-Davidson, India is an extremely important market for Harley-Davidson MotorClothes, the premium branded line of apparel and accessories. Karen, who took to biking at the age of nine and subsequently went on to get trained in designing, is the creative director of the Harley-Davidson’s General Merchandise line.

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.

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