Motorola working on a 10-inch tablet with productivity mode onboard: Report

first_imgMotorola is working on a new device. No, this time it’s not another Moto phone, but a tablet. Motorola is reportedly working on a new tablet. Not much is known about the tablet as of yet, not even the name, but a report has hinted that it is expected to come with Productivity Mode. The feature was previously seen on the Lenovo Yoga Book that was launched in India last December.The existence of this unnamed Motorola tablet was first reported by Android Police. Along with the report, a screenshot of the software running on the upcoming tablet is also revealed.Also Read: Upcoming Moto C, E phones may ditch stock Android for ZUK user interfaceWell, the leaked screenshot doesn’t reveal much about the specs of the tablet but does show some demo on how the Productivity Mode will work. The image shows the coming of productivity mode on the new Motorola tablet. With this feature onboard, the Motorola’s rumoured upcoming tablet is said to let users multitask, but in a much efficient manner.Productivity mode is an enhanced version of the traditional multi-window mode, which was introduced by the latest Android 7.0 Nougat.The screenshot that you can see below provides a brief description on how a user can multi-task on the tablet. It reads: “Switch between apps by tapping the app icon in the navigation bar.  Long press the app icon and drag it upwards to close the app.” This means that the upcoming Motorola tablet will allow users to use two applications at a time.advertisementPhoto Credit: Android Police Not only that, the Motorola tablet will allow users to switch between home screen and apps in the system navigation bar. The device comes with the ability for the users to close any running application by just dragging the icon of the app from the navigation bar to any other corner of the user interface. It will allow the users to pin apps in the navigation bar.Also Read: After Moto E4, now Moto E4 Plus clears FCC, may come with 5,000 mAh batteryFurthermore, the Productivity Mode shifts all the Android navigation buttons to one side of the tablet screen. This will enable a much easier thumb access for the users. The screenshot also shows a dedicated App Drawer button on the navigation bar. As per the display details, the upcoming Motorola tablet is said to sport a 9 to 10-inch display panel and is further said to have a premium look and feel. However, the company is yet to confirm the making of the tablet.Meanwhile, Lenovo is preparing to announce several mid-ranged smartphones under the Motorola brand, which include the rumoured Moto Z2, Moto Z2 Plus, Z2 Force, Moto E4, E4 Plus, Moto X, also Moto C and C Plus. The company is yet to confirm the existence of these devices for now.last_img read more

Cologne apologise but question Arsenal

first_imgArsenal Cologne apologise for fan behaviour but highlight Arsenal’s ticketing oversight Matthew Scott Last updated 2 years ago 01:53 16/9/2017 FacebookTwitterRedditcopy Comments(1) Arsenal - cropped Getty Images Arsenal UEFA Europa League Köln Arsenal v Köln After a chaotic kick-off delay in Thursday’s Europa League clash, the German club have apologised but taken aim at the event’s organisation Cologne have apologised after their fans caused a chaotic delay in Thursday’s Europa League fixture at Arsenal, but pointed out oversights in the Premier League club’s organisation of the event.An estimated 20,000 fans made the trip to London for Cologne’s first European fixture in 20 years, although their ticket allocation at the 60,000-capacity Emirates Stadium was a mere 3,000.Arsenal 10/3 to beat Chelsea Article continues below Editors’ Picks ‘I’m getting better’ – Can Man Utd flop Fred save his Old Trafford career? Why Barcelona god Messi will never be worshipped in the same way in Argentina Lyon treble & England heartbreak: The full story behind Lucy Bronze’s dramatic 2019 Liverpool v Man City is now the league’s biggest rivalry and the bitterness is growing A vast number of those travelling fans found their way into home sections of the stadium, with the confusion causing kick-off to be delayed by an hour. Arsenal won the game 3-1, the contest passing with relatively little trouble.Regardless, Cologne have condemned the actions of some supporters, who had tried to fight their way into the away end past stewards, while also questioning why their fans were not afforded a bigger allocation.A club statement read: “Due to the enormous demand for tickets, it would have been sensible, not least for security reasons, to allow more than the allocated five per cent of stadium capacity to the guest fans. “It was apparent that thousands of people from Cologne would seek to avoid the restrictions and get tickets in every way possible. One such way would be through the help of Arsenal supporters, who passed on their tickets to the FC fans. Some as gifts, but some also for horrendous prices. “Arsenal FC has described the extent of this second ticket market as ‘disappointing’ and has announced that further clarifications of the circumstances will be evaluated.”Despite the tremendous experience of both the London security forces and Arsenal as a permanent partaker in European football, the organizers were unfortunately not adequately prepared for the task. In our view, the security concept and communication seemed inadequate and the police force too small.Koln fans Arsenal“That said, 1. FC Koln would like to unmistakably make it clear that there is no excuse or justification for the fact that a group of so-called disturbers threatened, insulted, and even attacked stewards and police officers without cause. We distance ourselves from this explicitly.”These people are solely responsible for the fact that a football match with a special meaning for an entire region, as well as the courageous effort of our team on the pitch, had to be overshadowed by scenes that had nothing to do with sport and fair play.”Although 1. FC Koln is not responsible for the acts of these so-called disturbers, we ask our English hosts to accept our apology.”Arsenal vowed to bar any of their supporters found to have passed on tickets to Cologne fans, adding: “We would like to take this opportunity to thank our supporters for their patience and conduct during what was a very difficult night for us all.”We know that many supporters experienced significant disruption getting to the match and also inside the stadium during the match. We thank everyone for their understanding.”last_img read more

Tourism Investment officials cite benefits of Sandals chain

first_img Recommended for you Barbados Prime Minister speaks to country ahead of Tropical Storm Dorian; said country is preparing for 6-12 feet storm surge Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 22 Jul 2015 – A huge effort by the Sandals Resorts International company as the Turks and Caicos delegation now enters day three of what was supposed to be a three island FamTrip of the Eastern Caribbean properties of the resort conglomerate; the tour has broadened to include two more island nations, namely: Antigua and Barbuda and Jamaica. Hotel and Tourism Association executive Stacy Cox is on the trip, we spoke to her in Barbados. “This experience so far and much more to go has been, somewhat, an awakening of senses and what Beaches brings to the table. It is a strong brand and it does so much for the region itself and just to hear it from the other side of the region is quite commendable and it is a pure indication of what is being done in the Turks and Caicos, we are not alone and we have the opportunity also to speak to people around the region to see what works well in Beaches or Sandals…”Also in Barbados, the Tourism Investment agency President, Stuart Layne, who concurred with their Tourism Minister and agri-businesses that Sandals brings a diversity of opportunities; we asked him how having the Sandals and a coming Beaches helps Barbados specifically. “First of all we are happy that based on comments, from at least one carrier, that carrier has expanded its airlift just because Sandals is here so that is the sort of proof we are looking in terms of a justification for having Sandals here. We also know that Sandals has a fairly steady demand throughout the year so that also adds to the number of visitors on the island, it adds to stability in terms of employment.”First stop of the fam trip was Grenada, home of Sandals La Source and yesterday afternoon was spent touring two of three Sandals resorts in St Lucia. Multi-millionaire Barbados businessmen arrested in $3m drug bust, yacht suspected in drug trafficking Stinky sargassum blamed for marine disaster; dolphins, flying fish and turtles trapped Related Items:ANTIGUA, Antigua and Barbuda, barbados, beaches, grenada, jamaica, la source, sandals, St Lucia, stacy cox, stuart layne Facebook Twitter Google+LinkedInPinterestWhatsApplast_img read more

Dave Scotts weather forecast live from the Oscars at the Ranch

first_img Dave Scott Categories: Local San Diego News, Weather FacebookTwitter Dave Scott, March 4, 2018 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsKUSI’s Dave Scott was live at the “Oscars at the Ranch” Academy Awards viewing party to benefit the San Diego Film Festival.Patrons enjoyed signature dishes from San Diego’s premier chefs as they sipped crafted cocktails and cast their votes for the Oscar winners.The San Diego Film Festival’s mission is to use film to explore issues of global impact, to create dialog, to encourage self-reflection, and ultimately to develop empathy and understanding in an increasingly diverse and complex world. center_img Dave Scott’s weather forecast live from the Oscars at the Ranch Posted: March 4, 2018 Updated: 9:32 PMlast_img read more

At The Week Live Magazine Content Comes to Life

first_img As such, there is no dedicated events staff. The Week Live was organized under Nikki Ettore, integrated marketing director at The Week, and the events were curated by editorial leadership at the magazine, including Frumin. It’s the live embodiment of a print magazine: recipes, restaurant reviews, and interviews with theater and Hollywood stars — brought away from the privileged world of the journalist, and made tangible for the magazine’s audience. “We wanted to really stretch our legs,” Ben Frumin, editor-in-chief of TheWeek.com, tells Folio:. The Week has a rate base of 550,000, with 7.2 million monthly uniques on TheWeek.com. It’s a drop in the bucket when compared to a magazine like The New Yorker, with a rate base of 1,025,000, and its own competing events series, The New Yorker Festival, on October 7-9. While the team intends to make such events a fixture, Tara Mitchell, VP of marketing, says the current revenues will not significantly impact the company’s bottom line. And despite industry trends to the contrary, Frumin says the events are an addition to the magazine, not a supplement. “We always want to think about our audience first,” Frumin says. “We have this tremendous magazine. It’s a little weird. It’s idiosyncratic. That’s why it’s so successful, the fact that it is different. So we really wanted it to be an experience where our audience was involved.” Nonetheless, it’s the quality of The Week’s readers which may just make The Week Live a successful endeavor. The Week is getting a taste of live events. Sunday, the small, punchy news digest launched its three-part event series, The Week Live, with a high-brow live cooking class and meal at the Michelin star restaurant Bâtard. “Still to this day, I’ll tell people where I work, and seven or eight out of ten will say, ‘What’s that?’ And the other two or three will say, ‘The Week is the best!” Frumin tells Folio:. “Our readers are straight up evangelical about the magazine, so we also want to serve these people who already love The Week.” “We are a scrappy and relatively small company and we all work on a lot of things. We take pride in that,” Frumin says. “We’re smaller than our competitors and we punch above our weight class.” “We are never going to be an events-first business,” Frumin says. “But we do hope that going forward this will be a great business opportunity.” Tonight, attendees will visit Broadway to see Beautiful: The Carole King Musical, followed by a Q&A hosted by The Week’s managing editor, Carolyn O’Hara. On Thursday, guests will see a special screening of My Blind Brother along with a Q&A by Frumin himself.   With only 400 spots, and a cost of $425 for an all-access pass, The Week Live isn’t built for market saturation. Instead, it’s the wave of a hand to advertisers and potential readers who don’t yet see the brand as a place to go for curated, tasteful cultural news.last_img read more

Digital photography begins its next chapter with radical changes

first_img Walmart Share your voice Why we need 16 cameras on a smartphone $849 Apple $589 30 See All $812 Stuart Palley, a professional wildfire photographer here standing in the Angeles National Forest, believes mirrorless cameras will replace conventional SLRs. Stuart Palley Digital photography has changed a lot over the past two decades, with clunky DSLRs giving way to sleek smartphones. Over the next 10 years, expect a similar evolution as the science behind the art changes. Much of the technology in use today represents the breakthroughs of the first generation of digital cameras. Film was stripped away and digital image sensors took its place, but much of the rest of the camera — things like lenses, shutters, autofocus systems — often stayed largely the same. Manufacturers centered camera designs on the single, fleeting snap of the shutter. Now two big trends are reshaping our expectations of digital photography. Computational photography, which uses computing technology to improve photos, vaults over the limits of smartphone camera hardware to produce impressive shots. And the “mirrorless” movement, which drops hardware once necessary for film and elevates the image sensor’s importance, overhauls the mechanics of traditional cameras. Old assumptions about optics are being reconsidered — or discarded — as computer processing takes over. “Cameras will change more in the next 10 years than in the past 10,” said Lau Nørgaard, vice president of research and development at Phase One, a Danish company that makes ultra-premium 151-megapixel medium-format cameras costing $52,000 apiece. See It Sep 1 • iPhone 11, Apple Watch 5 and more: The final rumors Best Buy The changes will matter to all of us, not simply professional photographers on fashion shoots. New technology will mean better everyday snapshots and new creative possibilities for enthusiasts. Everything — selfies, landscapes and family portraits — will simply look better. Computational photography For much of camera history, bigger meant better. A larger frame of film could capture more image detail, but that meant a bigger camera body. Bigger lenses offered more detail, but that meant more weight. Computational photography, which runs on powerful processors, will change that paradigm. And that’s good news because most of us rely on our phones for taking pictures. Perhaps some of the most advanced computational photography available now is in Google’s Pixel 3 phone, which arrived in October. Here’s some of what it can do: Combine up to nine frames into a single shot with a technology called HDR+ that captures details in both dark shadows and bright highlights. Monitor how much your hands shake the photo so it can snap shots during fleeting moments of stillness. Compare multiple shots of photos to find the ones where people aren’t blinking or suffering from awkward facial expressions. Brighten the parts of the image where it detects humans and slightly smooths skin to make subjects look better. Zoom in better by capturing more data about the scene from multiple shots and and using artificial intelligence technology that predicts how best to expand an image. Photograph in dim conditions by merging multiple shots through a technology called Night Sight. Isaac Reynolds, Google’s Pixel camera product manager, says his company’s product underscores a fundamental change in what we think cameras are. Much of the Pixel 3’s performance and features come not from the lens and sensor but from software running on the phone’s chip that processes and combines multiple frames into one photo. With a computational photography feature called Night Sight, Google's $900 Pixel 3 smartphone can take a photo that challenges a shot from a $4,000 Canon 5D Mark IV SLR.Enlarge ImageWith a computational photography feature called Night Sight, Google’s $900 Pixel 3 smartphone can take a photo that challenges a shot from a $4,000 Canon 5D Mark IV SLR, below. The Canon’s larger sensor outperforms the phone’s, but the phone combines several shots to reduce noise and improve color. Stephen Shankland/CNET “You’re seeing a redefinition of what a camera is,” Reynolds said. “The Pixel 3 is one of the most software-based cameras in the world.” Seeing in 3D It’s all pretty radical compared with a shutter flipping open for a moment so photons can change the chemistry of film. And it’s only the beginning. Two years ago, the iPhone 7 started using two cameras side by side, which lets the phone judge just how far away each element of the scene is. The phone’s computing hardware then constructs a 3D-infused layer of information called a “depth map” in which each pixel of a photo holds both color and spatial information. Initially, Apple used the technology to re-create a style used in portrait photography that requires expensive camera lenses. Those lenses could shoot a shallow depth of field that focused on the subject but left the background an undistracting blur. Apple used software to do the blurring. The depth map has more to offer. With Lightroom, Adobe’s widely used photo editing and cataloging software, you now can adjust an iPhone photo based on that 3D information. For example, you can selectively brighten shadowed subjects in the foreground while leaving a bright background unchanged. That’s a manual process photo enthusiasts will appreciate, but it should help smartphones take photos automatically, said Google distinguished engineer Marc Levoy, who coined the term “computational photography” in 2004 when he was at Stanford University. A camera that could generate reliable depth maps means a camera app could fix problems with brightness and color balance so photos look more natural. “We have just begun to scratch the surface with what computational photography and AI have done to improve the basic single-press picture taking,” Levoy said. This photo, shot with Adobe Lightroom on an iPhone XS Max, contains "depth map" information about how far away elements of the scene are. That lets you easily select foreground areas for brightening.This photo, shot with Adobe Lightroom on an iPhone XS Max, contains “depth map” information about how far away elements of the scene are. That lets you easily select foreground areas for brightening. Stephen Shankland/CNET Goodbye, SLRs Generations of photographers grew up using SLRs — short for single lens reflex. It’s named after its reflex mirror that bounces light from the lens into a viewfinder so you can compose a shot. When you take the photo, the mirror flips out of the way and the shutter opens to let light reach the film. The first serious digital cameras — DSLRs — replaced the film with an image sensor and memory card. But they left almost everything else the same — the mirror and viewfinder, the autofocus system, the mount for interchangeable lenses. Now mirrorless cameras are changing that setup, dumping the mirror and optical viewfinder. You compose your shots using a screen. It might be the screen on the back of the camera or a smaller electronic viewfinder you use like a film-era photographer. With mirrorless cameras, the sensor is recording nonstop. It’s essentially taking a video but throwing away most of the data, except when you push a button and pluck out a single frame. Indeed, this video-centric design makes mirrorless cameras adept at video. What’s so great about mirrorless designs? They offer smaller, lighter camera bodies that can shoot photos silently; use autofocus across the frame, not just in the central portion; make it easier to compose shots at night; shoot fast bursts of photos; and preview shots more accurately through an electronic viewfinder so you can do better dialing in exposure, focus and aperture. “There’s none of this dropping the camera down, looking at the image and seeing if it’s too bright or dark,” said wildlife photographer David Shaw, who sold his Canon gear to move to Panasonic’s Lumix G9 camera, which is smaller and a quarter the weight. “I can see it all as I’m shooting.” Canon and Nikon embrace mirrorless Mirrorless cameras have been gaining traction for years, but here’s what changed in 2018: Canon and Nikon. The two DSLR heavy hitters, still the top dogs of the traditional photography market, started selling high-end mirrorless models. Nikon’s Z7 and Z6 and Canon’s EOS R. Following Sony’s lead, they come with large “full-frame” sensors that are best at capturing color and light data. Nikon and Canon aren’t phasing out their traditional SLRs, but their mirrorless models will be peers. Meanwhile, mirrorless pioneer Panasonic joined in with plans for two full-frame models debuting in 2019. Nikon's $3,400 Z7 looks similar to traditional DSLR cameras but dumps the internal mirror in a move to a more purely digital design.Nikon’s $3,400 Z7 looks similar to traditional DSLR cameras but dumps the internal mirror in a move to a more purely digital design. Nikon Mirrorless is the future, says Stuart Palley, a Newport Beach, California, professional photographer whose specialty in wildfire photography appears in his new book Terra Flamma. “DSLRs are going the way of medium formats and Speed Graphics,” Palley said, referring to film-era camera designs that now are mostly footnotes in history. He’s begun shooting with a Nikon Z7 and likes how it’s lighter than his Nikon D850 DSLR. “It’s so liberating carrying around less,” Palley said. The Z7, like the Sony and Panasonic full-frame mirrorless models, also can move its image sensor to compensate for shaky hands — something utterly impossible with film. “I can shoot a handheld image of the Milky Way now. It’s crazy,” Palley said. Outpaced by phone innovation? The traditional camera makers are adapting. But will they adapt fast enough? There’s nothing in principle that stops them from using the same computational photography techniques that smartphone makers do, but so far that’s been a secondary priority. “The camera guys have to look at what’s going on with handsets and computational photography and see what’s’ adaptable to traditional cameras,” said Ed Lee, a Keypoint Intelligence analyst. He expects the pace of change in photography technology to increase. The phone makers are moving fast, but Phase One’s Nørgaard doesn’t see any problem embracing their technology. Indeed, the company has begun embedding its Capture One editing software directly into the camera body. “The cellphones make really good images from a small camera,” Nørgaard said. “We can do the same on the other end, where we start with an absolutely fantastic image. The software approach will push that even further.” But smartphones have gobbled up the point-and-shoot camera market and each year pick up more high-end camera abilities. Phones that sell by the tens of millions offer a huge incentive for chipmakers like Qualcomm to push photography technology. The company’s next-gen mobile chip, the Snapdragon 855, adds all kinds of photo smarts, like the ability to detect, identify and track objects in a scene, to create depth maps and to counteract shaky hands. And that’s just next year’s chip, said P.J. Jacobowitz, Qualcomm’s senior marketing manager for camera and computer vision. “In this book, there are about 50 chapters,” he said of digital photography tech. “We are in chapter two.” CNET’s Holiday Gift Guide: The place to find the best tech gifts for 2018. Cambridge Analytica: Everything you need to know about Facebook’s data mining scandal. Aug 31 • Best places to sell your used electronics in 2019 See It Review • Pixel 3 review: The best Android phone of 2018 Sep 1 • 7 phones with the best battery life: iPhone XR, Note 10 Plus and more Mentioned Above Google Pixel 3 (64GB, not pink)center_img Now playing: Watch this: 2:02 News • Unlocked Google Pixel 3: Just $499.99 with this exclusive code Preview • Pixel 3 and 3 XL: Google’s nicest Pixel might lack that killer feature $799 Tags See it CNET may get a commission from retail offers. Aug 31 • iPhone XR vs. iPhone 8 Plus: Which iPhone should you buy? Mobile Photography Cameras Sprint See It Comments • reading • Digital photography begins its next chapter with radical changes Google Pixel 3 Qualcomm Canon Google Nikon Panasonic Sony Applelast_img read more

Elon Musk SpaceX Starhopper lifts off a little bit

first_img Elon Musk shows off the shiny SpaceX Starship Starhopper is undergoing tests with a single Raptor engine attached underneath it at SpaceX’s facility in Boca Chica, Texas. The hopper first fired up on April 3. The tethered prototype isn’t meant to reach space. Musk’s declaration that Starhopper hit the end of its tether indicates the second hop was likely higher than the first. Space aficionados are on the ground in Boca Chica watching the test hops from afar and discussing them on the NASASpaceFlight.com forum. The site posted another look at the hop from outside the road blocks around the facility. Post a comment 16 Photos 0 Enlarge ImageSpaceX’s Starship hopper originally had a nose, which is currently not on the prototype. SpaceX SpaceX isn’t wasting any time between tests of its prototype Starship “hopper,” now known as the Starhopper. Founder Elon Musk shared some fresh fiery test footage this weekend, declaring that “Starhopper just lifted off and hit tether limits!” Sci-Techcenter_img Starhopper just lifted off & hit tether limits! pic.twitter.com/eByJsq2jiw— Elon Musk (@elonmusk) April 6, 2019 Share your voice Tags SpaceX is developing Starship with the goal of getting humans off this rock and some day around the moon and all the way to Mars. Musk already set an ambitious timeline for launching a Starship full of artists around our lunar neighbor in 2023.The tethered rocket engine tests are important, but just a hint of what could come. Starship itself should end up sporting seven Raptor engines, but it’s also meant to be paired with a SpaceX Super Heavy rocket, which could use up to 31. That would be a big show. Elon Musk Space SpaceXlast_img read more

Unilever Drops Lawsuit against Hampton Creek Mayonnaise

first_imgUnilever PLC, the famous consumer goods giant, announced on Thursday that it was dropping a mislabelling lawsuit against San Francisco-based food startup Hampton Creek Foods.”Unilever has decided to withdraw its lawsuit against Hampton Creek so that Hampton Creek can address its label directly with industry groups and appropriate regulatory authorities,” Mike Faherty, Vice President for Foods of Unilever North America, said in a statement.Though Unilever didn’t specify why it dropped the lawsuit, Hamptons Creek CEO said that it was probably because Unilever realized, “It’s not the company they are or the company they want to be,” according to Forbes.Unilever sued Hampton Creek last month over its egg-free “Just Mayo” mayonnaise alleging that the company mislabelled its product. It asserted that a major ingredient in Mayonnaise is egg and that Hampton Creek was misleading its customers.”By calling its vegan sandwich spread ‘Just Mayo,’ Hampton Creek falsely communicates to consumers that Just Mayo is mayonnaise, when it in fact, it is not,” the lawsuit alleged.However, the world questioned Unilever’s lawsuit over such a small issue. The case didn’t just provide free press to Hampton Creek but also saw many arguments against Unilever’s stand in the lawsuit.Hampton Creek CEO Josh Tetrick said that it was surprising that such a big company would sue over such a silly issue. He also predicted that Unilever would drop its lawsuit soon, and that eventually came true, reports Forbes.”Hampton Creek was founded to open our eyes to the problems the world faces. This moment has only validated why,” Tetrick said in response to Unilever’s statement.Hampton Creek specialises in making Vegan products and eliminating the use of egg in condiments. The company uses new technology to take the best out of plants and make food better. But CEO Tetrick acknowledges that the same technology scares away several potential buyers.”We are not doing synthetic engineering. We are not manipulating genes. We are screening through plants in a way that is novel and using them to make food better,” Tetrick was quoted by The Financial Times.Thursday bore good news for the Bill Gates-backed food startup. Hampton Creek announced that it had raised $90 million in a new round of funding. The capital valued the company at $500 million.last_img read more

23 bn IdeaVodafone merger gets conditional goahead from exchanges

first_imgREUTERS/Shailesh AndradeThe Securities and Exchange Board of India (Sebi) and its exchanges have given their conditional approval to the merger between Kumar Mangalam Birla-owned Idea Cellular and Vodafone India. It will be subject to the regulator’s ongoing probe and approvals from public shareholders and the National Company Law Tribunal (NCLT), a PTI report said on Tuesday.Vodafone India and Idea Cellular had announced the merger of their operations in March this year to create the country’s largest mobile phone operator worth more than $23 billion with a 35 per cent market share.The $23-billion merger deal would be subject to the outcome of an ongoing probe by the regulator and approvals from public shareholders and National Company Law Appellate Tribunal (NCLT). The multi-layered deal was announced in March and recently got clearance from the fair trade regulator Competition Commission of India (CCI).In their no-objection letters on “draft composite scheme of amalgamation and arrangement among Vodafone Mobile Services, Vodafone India and Idea Cellular and their respective shareholders and creditors”, BSE and NSE said that all the conditions put forth by the regulator need to be placed before NCLT while seeking its approval.The regulator said Idea has given a voluntary undertaking to Sebi that it will not dispose of shares that were purchased by one of its promoters before the merger announcement, till further directions from Sebi.In its detailed comments on the draft scheme, Sebi said it had received a complaint alleging that one of the promoters of Idea Cellular had purchased 0.23 per cent shares of the company before the announcement of the draft scheme of amalgamation and these transactions by the purchasers were in violation of securities laws, PTI reported on Tuesday.Sebi has also received complaints about alleged violation of takeover norms as the shareholding of Idea would increase from about 21 per cent to about 26 per cent pursuant to the scheme.”The said allegations are being examined by Sebi,” the report said, quoting the regulator.Idea has also submitted a voluntary undertaking stating that it will comply with the directions of Sebi in respect of the ongoing examination. It has also undertaken that any liability eventually held to be valid against it shall be borne by Idea, PTI said in its report.”The acquisition pursuant to draft scheme of arrangement is exempt from the obligation to make an open offer…if the acquisition is pursuant to a scheme of arrangement, inter- alia, including amalgamation, merger or demerger, pursuant to an order of a court or a competent authority under any law or regulation, Indian or foreign. Thus, the said exemption is applicable only if NCLT approves the draft scheme,” Sebi said.The regulator further said an ‘abridged prospectus’ about the deal will need to contain a risk factor (at number 1) detailing the risks associated with the outcome of the examination by Sebi of the allegations in the complaint. The company will need to ensure that the scheme clearly provides for voting by public shareholders and that the scheme of arrangement is acted upon only if the votes cast by the public shareholders in favour of the proposal are more than the number of votes cast against it.The explanatory statement to the notice to shareholders need to disclose prominently that Sebi is examining the allegations with regard to transactions done by the purchasers in the shares of Idea before the announcement of the scheme.”All the above facts shall be brought to the notice of NCLT,” Sebi said.last_img read more

LF has been sold to BJP Mamata

first_imgKolkata: Criticising the move of Left Front calling a six-hour bandh on Friday, Chief Minister Mamata Banerjee has once again attacked the party, saying that it has been sold to BJP.Banerjee took a dig at the Left, saying that from the next time they will call bandh at midnight and stated it to be “bandh freedom at midnight”.While leaving Nabanna on Thursday evening, the Chief Minister said: “Can there be any bandh from 6 am to 12 noon? Next they will give a call for a bandh from midnight to 4 am and it will be observed in sleep. This is their (CPI-M) future and they have no capability to work in the grassroot level. ‘Harmads’ of CPI-M have now become the ‘ostads’ of BJP. The party has been sold to BJP. So it is not right to expect anything from them.”She maintained: “Offices open at 10 am…they have called bandh at such a time that it is nothing but drama. Such drama will not be tolerated. They have caused enough damage to the state by giving call for bandhs.””The bandh will become 100 percent successful if they give a call for the same at midnight,” the Chief Minister said.last_img read more