Apple becomes world's first $1 trillion company

Agencies
August 3, 2018

Reuters, AUG 02: Apple became the first US company to top $1 trillion in market value on Thursday, leading a rebound in technology stocks that helped Wall Street pare losses and turned the Nasdaq positive.

Market sentiment was also lifted by Commerce Secretary Wilbur Ross's comment, who said the tariffs that United States is threatening to impose on Chinese goods would not be disastrous for the Asian nation.

"It's not something that's going to be cataclysmic," he said in an interview with Fox Business Network, explaining that a 25% tariff on $200 billion worth of goods would equal to less than 1% of China's economy.

Technology stocks, which were trading lower earlier in the session, rose 0.4%.

Apple hit a record high of $207.05, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.

"There's a dichotomy on whether the tech run is going to continue," said Cliff Hodge, director of investments for Cornerstone Wealth in Charlotte, North Carolina.

"The tariffs are not enough to derail the U.S. economy that is firing on all cylinders."

The trade-sensitive industrial sector fell 0.38%. Caterpillar, Boeing and 3M fell more than 1% and weighed on the bluechip Dow Jones Industrial Average.

Financials fell 0.5%, the biggest drag on the S&P 500, as 10-year U.S. Treasury yields eased.

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News Network
September 20,2024

Starting in the 2025-26 academic year, private universities in Karnataka offering professional courses will no longer conduct separate entrance exams. This decision follows a directive from the state’s Higher Education Department, prompting private universities to form an association and agree to this significant change.

In a recent meeting with Higher Education Minister Dr. M. C. Sudhakar, representatives from 17 private universities confirmed their decision to discontinue individual entrance tests. Of the 27 private universities in the state, 17 offer professional courses, and they have collectively agreed to accept scores from existing national or state-level entrance exams.

“Some universities will consider JEE scores, others will rely on KCET, and a few are inclined towards COMEDK,” Dr. Sudhakar stated, leaving the choice of examination to the universities themselves. However, the department has also suggested that the universities consider a unified entrance test for admissions.

Looking ahead, Dr. Sudhakar hinted that the government may introduce a common entrance test for general degree courses at private universities as well. "As government colleges and universities currently don’t require entrance exams for general degree courses, we haven’t made any decisions on this yet," he explained.

The meeting also addressed concerns over the high fees charged by private universities. To regulate this, the universities were instructed to establish fee fixation committees, headed by retired judges, as required by law. These committees will be responsible for determining tuition fees. Additionally, the government will continue to regulate fees for 40% of seats in professional courses that are filled through KCET.

In an effort to bring greater uniformity among private institutions, the government is considering enacting a common law for all private universities, which would replace the individual acts currently governing each university. This would place all private universities under a single regulatory framework.

This move is expected to streamline the admissions process and create a more standardized system for both professional and general degree programs across Karnataka's private universities.

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News Network
September 12,2024

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Prime Minister Narendra Modi's visit to CJI D Y Chandrachud's house for Ganesha puja celebrations has raised doubts in the mind of Shiv Sena (UBT) leader Sanjay Raut, who questioned whether he would deliver 'justice' in the ongoing case the party has in the Supreme Court, given that the PM is the other party in the case.

Speaking to ANI, Raut said "Ganpathi festival is going on, people visit each other's houses. I don't have info regarding how many houses PM visited so far...but PM went to CJI's house and they together performed 'Aarti'."

He said that a custodian of the Constitution meeting politicians could raise doubts in the minds of people.

"In our case, other party is the central govt...Chief Justice should distance himself from this case because his relation with the other party in the case is openly visible," Raut continued.

He also raised questions if the CJI be able to give them justice in the case. "We are getting dates after dates and an illegal govt is going on...Shiv Sena and NCP were broken in such a way...we are not getting justice and PM Modi is taking a lot of interest in the illegal govt of Maharashtra, to save them," the Sena (UBT) leader continued.

Raut alleged that a doubt had been formed in Maharashtra's mind given the 'bond' the PM and the CJI seem to share.

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News Network
September 10,2024

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The Israeli regime has attacked displaced Palestinians in the southern part of the Gaza Strip with US-provided 2,000-pound bombs, killing at least 40 civilians, mostly women and children.

As many as 60 others were injured in the attack that targeted an area previously declared by the Israeli military as a “humanitarian zone” at the al-Mawasi refugee camp in the city of Khan Younis on Tuesday.

The military alleged that it had struck members of the Hamas resistance movement, who were “operating a command and control center” inside the targeted area, a claim that was rejected by the group as a “blatant lie.”

“The resistance has repeatedly confirmed the absence of any of its members among civilian gatherings or the use of such areas for military purposes,” Hamas said.

The bloodletting took place as part of the regime’s ongoing genocidal war on Gaza, which began on October 7 in response to a retaliatory operation staged by the territory’s resistance groups.

So far, close to 41,000 Palestinians have been killed and more than 94,800 others wounded in the brutal military onslaught.

The Tuesday massacre came after the refugee camp witnessed an influx of homeless Palestinians, who had fled there from the death and destruction spree caused by the war elsewhere across the coastal sliver. Between 30,000 and 34,000 people were living upon each square kilometer of the camp at the time of the attack, the United Nations estimates show.

The weapons deployed during the massacre have been identified as American-made MK-84 bombs, which carry 900 pounds of explosives. 

The payload can create a crater about 15 meters wide and over 10 meters deep, besides being capable of causing deadly damage around it within a radius of approximately 73 meters. 

This is not the first time when the regime deploys the ammunition against civilian targets during the war. 

More than 70 Palestinians were killed after it struck the refugee camp with the same bombs in July.

As part of its unbridled military support for the regime, the United States has armed it with as many as 14,000 of the bombs since the onset of the war.

Hamas also called the US “complicit” in such massacres that “are being deliberately carried out without regard for international law, humanitarian law, or resolutions calling for an end to the aggression.”

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