Samsung Galaxy Note 7 Refurbished Units to Start Selling Next Week: Reports

The world’s biggest smartphone maker Samsung will next week start reselling refurbished Galaxy Note 7 devices after a humiliating recall over exploding batteries last year, news reports said Tuesday.

Samsung Electronics declined to comment on the reports.

The recall debacle cost the Korean giant billions of dollars in lost profits and hammered its global credibility.

Around three million Galaxy Note 7 devices were returned to the firm, but campaign groups including Greenpeace expressed concern that discarding them could harm the environment.

Citing industry sources, South Korea’s Yonhap news agency and other news reports said Samsung would start selling refurbished devices with new batteries and updated software under the name Galaxy Note Fandom Edition (FE).

They will be priced below KRW 700,000 ($616 or roughly Rs. 40,000) and sales are slated to start July 7, Yonhap said.

Samsung Galaxy Note 7 Refurbished Units to Start Selling Next Week: Reports
The recall was deeply embarrassing for Samsung but it has just launched a new flagship device, the Galaxy S8, to positive reviews and strong orders.

In April it posted its biggest quarterly net profit for more than three years, although it has come under pressure on wider fronts.

Lee Jae-Yong, the Samsung group vice-chairman and heir to its leadership, is on trial for bribery in connection with the sprawling corruption scandal that brought down former South Korean president Park Geun-Hye.

Lee is accused of bribing Park and her secret confidante Choi Soon-Sil with millions of dollars to seek government favours.

He has effectively been at the helm of the group since his father suffered a heart attack in 2014. His indictment in February sent shockwaves through the firm and triggered the announcement of a major reform of its top-down management style.

EU Said to Fine Google With Record Fine This Week

The EU’s powerful antitrust regulator will slap Google with a record fine as early as Tuesday in another European blow against a US tech giant, sources said.

Led by hard-charging European Commission competition chief Margrethe Vestager, the EU will impose a massive penalty against Google that would break the previous record of EUR 1.06 billion set in 2009 against Intel, the US chipmaker.

More importantly for Google, Brussels will demand that the US tech giant change its business practices to meet the EU’s concerns.

The decision, expected Tuesday or Wednesday, comes a year after Vestager shocked the world and angered the Obama administration with an order that Apple repay EUR 13 billion in back taxes in Ireland.

Sources close to the matter said Google’s fine would range EUR 1.1-2.0 billion. While an EU record, this is well below the maximum possible of about EUR 8.0 billion or 10 percent of Google’s total revenue last year.

Brussels accuses Google of giving its own online shopping services top priority in search results to the detriment of other price comparison services.

The case is one of three against Google and of several against blockbuster US companies including Starbucks, Apple, Amazon and McDonalds.

In the other Google cases, the EU is examining Google’s AdSense advertising service and its Android mobile phone software.

EU Said to Fine Google With Record Fine This Week
If confirmed, the fine would come after a long period in which the two sides tried to settle the case amicably.

The cases have stoked tensions with Washington and could now face the wrath of US President Donald Trump, who won office on his “America First” slogan.

“We continue to engage constructively with the European Commission and we believe strongly that our innovations in online shopping have been good for shoppers, retailers and competition,” said Mark Jansen, a spokesman for Google.

The European Commission refused to comment.

The Commission, which polices EU competition policy, launched an initial investigation into Google in 2010 following complaints from rivals such as Microsoft and Trip Advisor that it favoured its own shopping services when customers ran searches.

Claims that practices by Google Shopping harm competition “are wrong as a matter of fact, law, and economics,” Google’s general counsel Kent Walker wrote in response to the EU last year.

Vestager’s predecessor, Joaquin Almunia, made three attempts to resolve the dispute but in each case intense pressure by national governments, rivals and privacy advocates scuppered the effort.

 

Orient Bell: HDFC Securities’ Top Stock Pick For The Week

Orient Bell Limited is HDFC Securities’ top stock pick for the week. HDFC Securities has recommended buying Orient Bell Limited (OBL) for an immediate target price of Rs. 299 and above Rs. 299 it expects the stock to go up to Rs. 329 in two-three quarters. Orient Bell Ltd, earlier known as Orient Ceramics & Industries, was incorporated in May 1977. The company is engaged in manufacturing, trading and selling of digital, vitrified, ceramic and ultra-vitrified tiles under brands Orient, Orient International, and Bell across India.

HDFC Securities in a note to its clients said, “Company is the first to have an in-house European designer. Company has a manufacturing capacity of 20 mnsq meters in house and an additional third party manufacturing capacity through its Joint Ventures of 4 mnSq meters. OBL has manufacturing facilities in Sikanderabad (Uttar Pradesh), Dora (Gujarat), and Hoskote (Karnataka).”

According to HDFC Securities, “OBL’s strong foothold in the domestic market with value-added product portfolio, higher penetration in rural and smaller cities and better working capital management could provide better growth opportunities going forward.”

Orient Bell is engaged in manufacturing, trading and selling of tiles
“Visibility of decent growth in industry wide sales, shift in share from unorganized to organized players and improvement in brand value of Orient Bell will help OBL to register good topline and bottomline growth going forward. Reduction in debt due to the latest sale of trust shares will also help cut interest costs. Gradual inching up of margins to the levels of peers will result in fast increase in profit after tax and rerating of the stock. Additional capacity due to the latest capex initiatives will enable faster topline growth in FY18E and FY19E.”

HDFC Securities recommends buying Orient Bell stating that “We feel investors could buy the stock at the current market price (CMP) and add on dips to Rs. 238-241 band for sequential targets of Rs. 299 and Rs. 329. At the CMP of Rs. 262.40 the stock trades at 13.2 times FY19 estimated earnings per share.”

At 10:18 am, Orient Bell shares traded 5.25 per cent higher at Rs. 276.50, outperforming the Nifty which was down 0.3 per cent.

 

Top 10 trending phones of week 25

We have a change in the lead for a second week in a row as the OnePlus 5 took another step forward and claimed the crown. It gathered three times the hits of the second-placed Nokia 6, so it will probably stay there for a while longer.

The Nokia mid-ranger still managed to keep the Galaxy S8 at bay, while below those two the Xiaomi Redmi Note 4 and Samsung Galaxy J7 Prime retain their positions.

Another Nokia handset makes the chart this week – the 3 jumps straight into sixth as its global rollout gets going.

The Xiaomi Redmi 4 has slipped down to seventh, just head of the Galaxy J7 Max – the second new entry on the chart this week. Another new face from the same family, Galaxy J7 Pro took the 10th spot, right behind the Xiaomi Redmi 4a.

With three new entries and a change in the lead this has certainly been an eventful week in our Top 10 chart. We also saw the Apple iPhone 6 drop off – the nearly three years old smartphone streak of remarkably high popularity finally ending.

OnePlus 5
OnePlus 5
RANK: 1

WAS: 2

specs review

Nokia 6
Nokia 6
RANK: 2

WAS: 1

specs review

Samsung Galaxy S8
Samsung Galaxy S8
RANK: 3

WAS: 3

specs review

Xiaomi Redmi Note 4
Xiaomi Redmi Note 4
RANK: 4

WAS: 4

specs review

Samsung Galaxy J7 Prime
Samsung Galaxy J7 Prime
RANK: 5

WAS: 5

specs gallery

Nokia 3
Nokia 3
RANK: 6

NEW IN

specs review

Xiaomi Redmi 4 (4X)
Xiaomi Redmi 4 (4X)
RANK: 7

WAS: 6

specs gallery

Samsung Galaxy J7 Max
Samsung Galaxy J7 Max
RANK: 8

NEW IN

specs gallery

Xiaomi Redmi 4a
Xiaomi Redmi 4a
RANK: 9

WAS: 7

specs review

Samsung Galaxy J7 Pro
Samsung Galaxy J7 Pro
RANK: 10

NEW IN

specs gallery

This week in banking: Focus on 12 large NPA accounts; Au Small finance bank launches IPO

The banking sector this week was shadowed largely with the bankers doing marathon meetings to decide on the 12 large corporate bad loan accounts identified by the Reserve Bank of India to be taken to the National Company Law Tribunal under the Insolvency and Bankruptcy Code.

The 12 defaulted borrowers include steel and infrastructure companies such as Lanco Infratech, Bhushan Steel, Bhushan Power and Steel, Essar Steel, Electrosteels Steel and Alok Industries among others.

Joint Lenders’ Forum led by banks including State Bank of India, Punjab National Bank and IDBI bank, for each corporate account met in a series of meetings and formally approved taking the company’s resolution process through the corporate insolvency route.

The week started with bankers kickstarting the process to finalise the decision to refer the stressed cases to the NCLT within a month’s time. Lanco Infratech was the first to officially announce its decision to be taken to NCLT by IDBI Bank led bankers.

Other cases discussed during the week were Jyoti Structures, Alok Industries, Essar, Bhushan Steel, Bhushan Power and Steel and Electrosteel Steels.

On Friday, Punjab National Bank approved taking Bhushan Power and Steel to be referred to NCLT, while Bhushan Steel informed the stock exchanges that SBI would officially be referred under the insolvency code.

During the week, the banking regulator also expanded the scope of the overseeing committee (OC) by adding three more members from the existing two to a total of five members headed by former Central Vigilance Commissioner Pradeep Kumar. The new members will come on board with effect from September 7, 2017.

This week in banking: Focus on 12 large NPA accounts; Au Small finance bank launches IPO

It also expanded the scope of the OC beyond the S4A – scheme for sustainable structuring of stressed assets – to all assets above Rs 500 crore.

GST

Also, with the Goods and Services Council extending the deadline for companies to file taxes by two months will provide a much needed breather to banks for setting its IT infrastructure and processes in place as the GST is set to be launched on July 1

On GST, RBI Governor Urjit Patel, at a panel discussion at a banking and financial services event, said that GST will reduce inefficiencies within states and broaden the tax base, making it an important part of the digital revolution.

The central bank chief sounded more optimistic on the job sector in the IT sector. According to him, despite pressure in the IT (information technology) sector, start-ups are creating more jobs. The pessimism regarding job losses is a judgement too soon and that he has not heard of any major job destruction while talking to corporates. Further, he said that India’s fintech industry has almost tripled its size since 2013 and the value of transactions has touched USD 30 billion already. Here, Patel also asked to maintain caution of the space that the world is yet to recover even from the 2008-09 global financial crisis.

He also said that unequivocally, India’s position should be for an open trading system despite sentiments with some of the other countries changing and that is the right position to take. India has believed in a multilateral trading system and must continue to force ourselves into that, Patel said, adding that India must continue doing so despite changes in other countries, alluding to the protectionist policies by the US and UK.

In another market news, Au Small finance bank decided to come out with its IPO (initial public offering) whose issue will open from June 28-30. The bank’s CEO Sanjay Agarwal said in an interview that the bank plans to raise Rs 1,912 crore through the public.

Demonetisation demon is still haunting the cash logistic firms as the banks are yet to pay them dues worth Rs 93 crore. Cash logistic firms are involved in the recalibration and replenishment of ATMs.

At the peak of demonetisation, when supply of replacement currency at ATMs was running low, an army of 50,000 people in 9,800 odd vans had worked around the clock to recalibrate and fill up the depleting cash machines. Sources told Moneycontrol that the logistics companies are owed a sum of Rs 93 crore by banks, only some of whom have paid up.

Shoe of the Day at Paris Fashion Week Men’s: Comme des Garcons’ Nike Air 180

Comme des Garcons Spring 2018

With Pigalle Thursday, Les Benjamins today and Off White designer, Virgil Abloh’s being teased left right and center, Nike has hit the ground running with its collabs this season. But Comme des Garcons’ Rei Kawakubo’s took some beating at Paris Fashion Week Men’s.

Our shoe of the day is the Nike Air 180 that starred in her disco extravaganza. Best in show? We’re loving those hot pink and black numbers. Retro kicks are totally on trend and these are as good as it gets.

 

 

Do You Watch TV for More Than 10 Hours a week? You Need to Stop!

Television or TV viewing is one of the most common pastimes for many. We consume any and every form of information from this so-called “idiot box” hours at end, without even realizing our limit. As soon as the television is turned on, our eyes are glued and we just can’t seem to get ourselves to turn the power button off.

Excessive television watching has already been linked to a variety of health problems as well as an increase in snacking tendencies. This holds especially true for the youth of today, whose incessant television viewing habits have caught the fancy of several studies. Last year, a research had suggested that kids with TV in their bedroom are at a higher risk of obesity. Placing TV sets in a child’s room could put them at significantly higher risk of being overweight in later life, according to the study. Another study proves how television viewing also hampers growth and kills creativity in children.

This new research, however, is the first study to look at a link between TV viewing habits and physical function in older adults. The study has successfully found how excessive television content consumption results in impaired physical activity, specifically among the older generation. This makes the study unique- as adults hardly consider their TV habits could be detrimental to their long-term health.

watching tv

The study has been led by UQ School of Public Health PhD candidate- Natasha Reid. For this latest research, Reid used data from 1,938 participants in the Australian Diabetes, Obesity, and Lifestyle Study (AusDiab). Participants were aged from 47 to 85 at the start of the study, and their habits were closely observed over a 12-year period.

Subjects were classified into six groups based on their TV watching habits, ranging from: consistently low at less than five hours a week (9.7% of participants), low-increasing (22.3%), moderate-decreasing (13.5%), moderate-increasing (30.3%), consistently-high (18.9%), and high-increasing at more than 30 hours of TV watching per week (5.2%).

Almost a third of participants fell into the moderate-increasing range, increasing their weekly TV watching from about 10 hours a week to about 20 hours. The study scientifically established that those who spent less time watching television had significantly better lower-body muscle strength 12 years later.

“On a knee extensor strength test, the consistently low TV watchers performed better than most other groups,” commented Reid, who said the research suggested that excessive TV watching needed to be addressed earlier rather than later in life, as it could make a difference to independent living as we age. Reid’s comments may hold more than true,

Reid further explained, “Future longitudinal studies that examine sitting time and its impact on physical function are also needed.”