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 18,2024

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The founder of Taiwan's Gold Apollo, Hsu Ching-Kuang denied that his company manufactured the pagers used in the explosions that occurred in Lebanon on Tuesday, resulting in at least nine fatalities and nearly 3,000 injuries.

The detonations were triggered simultaneously by pagers used by militant-group Hezbollah members across the country.

News agency Reuters reported that images of the destroyed pagers revealed a format and stickers on the back that were consistent with those produced by Gold Apollo.

A high-ranking Lebanese security official said that Hezbollah had placed an order for 5,000 pagers from the Taiwanese company.

Earlier, a New York Times (NYT) report said that pagers used by Hezbollah members that simultaneously exploded on Tuesday came from Taiwan, with Lebanon claiming that explosives packed in sometime before they arrived in Lebanon.

However, Hsu clarified that the pagers involved in the incident were manufactured by a European company called BAC, which had the right to use Gold Apollo's brand. "The product was not ours. It was only that it had our brand on it," he said, without disclosing the name of the European manufacturer. Hsu further said that Gold Apollo was also a victim in this situation.

"We are a responsible company. This is very embarrassing," Hsu said.

According to media reports, Hezbollah's fighters started using pagers believing they could avoid Israeli tracking of their locations.

Hezbollah blames Israel, vows 'punishment'

Hezbollah vowed revenge against Israel following accusations that the latter was responsible for detonating pagers throughout Lebanon.

Ziad Makary, the Lebanese information minister, denounced the detonation of the pagers, which are commonly used by Hezbollah and other groups in Lebanon for communication purposes. He labeled the incident as an "Israeli aggression". Meanwhile, Hezbollah declared that Israel would face "its fair punishment" for the explosions.

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News Network
September 12,2024

Mangaluru: Mayor Sudheer Shetty Kannur said that as a part of the International Day of Democracy, the Mangaluru City Corporation (MCC) will hold a 23-km long human chain and plant 1000 saplings in the Bengre area on September 15.

The human chain will be formed from Pavanje bridge to the border of Arkula, which will pass through Nanthoor Junction- Kannur Junction. The event is organised with the objective of creating awareness among the public, particularly the youth, about the significance of democracy. Around 10,000 people, particularly students, will participate in forming the human chain in the city limits, he told media persons.

He said Democratic system in India is a model to the world and we should be grateful to Dr B R Ambedkar for giving the country a beautiful constitution. To make the people, particularly the youth, aware of the Constitution and its preamble, the state government has chalked out a plan to form a mega human chain from Bidar to Chamrajnagar. As a part of it, the programme will be held in Mangaluru. Students from various schools, colleges, various organisations, NGOs should actively participate to make the event a grand success.”

The Mayor said as a part of the celebrations, an arch will be built at Pavanje bridge and Kannur Junction. The Zonal office at Surathkal will be decorated with tri colour along with KPC Circle, Nanthoor Junction, Padil Junction. The main programme will be held at Kadri Circle near Circuit House in Mangaluru, which will be attended by DK MP Capt Brijesh Chowta, MLAs D Vedavyasa Kamath, Dr Y Bharath Shetty, DC Mullai Muhilan MP and others. Flags will be placed for every 100 metre of the human chain stretch. The participants can click their photos and upload it through https://democracydaykarnataka.in/ to collect a certificate, added the mayor. 

The human chain will be held from Pavanje to Mukka checkpost, Mukka chepost to Mukka Junction, Mukka Junction to NITK gate, NITK gate to Tadambail Junction, Tadambail Junction to Hotel Suraj, Hotel Suraj to Govinda Dasa College, Govinda Dasa College to Kordabbu Daivasthana, Hosabettu, Kordabbu Daivasthana to Honnakatte Junction, Kulai to APMC, Baikampady, Hotel Vishwasagar to Mangaluru traffic police check post , Mangaluru traffic police check post to Panambur circle, Panambur Circle to NMPA railway track, MCF to Kuloor bridge, Kuloor bridge to Gold Finch ground, Gold Finch ground to Kottara Chowki, Kottara Chowki to BMS Hotel, BMS Hotel to SKS apartment, KPT to Saptagiri petrol bunk, Nanthoor Circle to Kaikamba, Maroli Jodukatte till Padil Circle, Padil to First Neuro Hospital – Kannur Junction, Adyar Katte to Sahyadri College, Sahyadri College to Expert Cross (Valacchil), Express Cross to Arkula border.

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News Network
September 17,2024

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Union Home Minister Amit Shah on Tuesday, September 17, said the Waqf (Amendment) Bill, 2024 will be passed in the Parliament in the coming days. He said the Bill is committed to the management, preservation and misuse of Waqf properties.

The Joint Parliamentary Committee (JPC) on the Waqf Bill will meet from September 18 to 20. The JPC is scrutinising the Waqf (Amendment) Bill, 2024 which seeks to amend the Waqf (Amendment) Act of 2013.

On September 14, a Muslim organisation headed by Congress MP Tariq Anwar demanded the rejection of the Waqf (Amendment) Bill. The organisation alleged that the proposed legislation is an "indirect attempt to seize control of Muslim religious properties".

The All India Qaumi Tanzeem submitted 14 pages of suggestions and objections to the bill to the JPC through the Lok Sabha Secretariat.

The Bill was introduced in Lok Sabha on August 8.

On September 11, a Rajya Sabha panel summoned Minority Affairs Ministry officials to explain reasons for the delay in completing the process for framing subordinate legislation under the 2013 Waqf law.

The new bill seeks to change the registration process for Waqf properties through a centralised portal. It proposes several things, including establishing a Central Waqf Council alongside state Waqf Boards with representation to Muslim women and non-Muslim representatives.

A contentious provision of the Bill is the proposal to designate the district collector as the primary authority in determining whether a property is classified as Waqf or government land.

The Waqf (Amendment) Bill also aims at renaming the act to the Unified Waqf Management, Empowerment, Efficiency and Development Act, 1995.

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