The Indian government on Tuesday said it was going to approve incentives to 16 companies, including a trio of top Apple suppliers, under a new plan to boost domestic smartphone production.
Smartphone manufacturing has become a cornerstone of a broader push by India to position itself as an export hub for consumer electronics and other products. The so-called “Made in India” drive will see $6.65 billion allotted toward a product incentive scheme to encourage local smartphone manufacturing.
Of the 16 companies approved in the scheme, three are prominent Apple supply chain partners: Foxconn, Wistron, and Pegatron, according to Reuters. Those companies, all of which help produce various iPhone models, must invest in local manufacturing to earn the incentives, however.
Although the Indian government did not specify how much Foxconn, Wistron, and Pegatron plan to set aside for local production, a previous report suggested that they could invest a combined
NEW DELHI (Reuters) – India on Tuesday said it was approving incentives under a federal plan to boost domestic smartphone production to 16 companies, including top Apple suppliers Foxconn, Wistron and Pegatron.
India’s smartphone industry has become a showpiece for Prime Minister Narendra Modi’s “Make In India” drive. The $6.65 billion incentive scheme is part of the government’s aim to make the country into an export and manufacturing hub.
The companies have to invest to tap into the scheme. The government did not disclose what investment Foxconn, Wistron and Pegatron, which is yet to start Indian operations, will make.
Two sources previously told Reuters these three companies plan to invest a total of almost $900 million in India in the next five years to benefit from the scheme.
Samsung, which runs the world’s biggest mobile phone manufacturing plant on the outskirts of New Delhi, also got approval, India’s tech ministry
(Reuters) – The Seattle City Council passed a minimum pay standard for drivers for companies like Uber Technologies Inc UBER.N and Lyft Inc LYFT.O on Tuesday.
Under the ordinance, effective January, the drivers will now earn at least $16.39 per hour – the minimum wage in Seattle for companies with more than 500 employees.
Seattle’s law, modeled after a similar regulation in New York City, aims to reduce the amount of time drivers spend “cruising” without a passenger by paying drivers more during those times.
City officials argue this should prevent Uber and Lyft from oversaturating the market at drivers’ expense, but the companies say it would effectively force them to block some drivers access to the app. Both Uber and Lyft have locked out drivers in response to the NYC law.
“The City’s plan is deeply flawed and will actually destroy jobs for thousands of people — as many
The Brentwood Police Department will move into a newly constructed police facility in the Spring of 2021 and an entire room on the first floor will house a state-of-the-art firearm training simulator system. The technology will allow officers to train in a virtual climate on decision-making scenarios pertaining to use of force including de-escalation tactics.
Brentwood Police Chief Jeff Hughes says this technology is essential. “Despite our continued training on proficiency, police find they are more likely to be criticized for their decision making when it comes to shoot/don’t shoot,” Chief Hughes said. “In those few seconds an officer decides to shoot or not, there are a lot of factors running through one’s mind,” added Chief Hughes. “One of the major benefits of using the professionally produced scenarios on the VirTra Simulator is the cultivation of effective verbal communication (de-escalation skills) with subjects during tense situations,” said Chief Hughes.
AICTE Approves Geospatial Science And Technology As Subject In GATE And NET Exams
The All India Council for Technical Education (AICTE) has approved for the inclusion of Geospatial Science And Technology as a subject in the Graduate Aptitude Test in Engineering (GATE) and the National Eligibility Test (NET). Candidates appearing in NET for Junior Research Fellowship (JRF), and for lectureship in universities and colleges, including IITs and NITs, will now be able to study the newly added subject.
The inclusion of the subject will benefit students and help in the “evolution of Geospatial Ecosystem in the country”, an official statement said.
The inclusion of the subject was approved on the recommendation of the National Geospatial Task Force Report 2013, under the Chairmanship of former ISRO Chairman, Dr. K. Kasturirangan.
The Department of Science and Technology (DST) has also highlighted the need for Geospatial subject in GATE and NET
President Donald Trump approved a deal for Oracle and Walmart to acquire stakes in the US operations of popular video app TikTok , postponing a potential ban that was scheduled to go into effect on Sunday.
Oracle will take a 12.5% stake in a new company, TikTok Global, while Walmart will have 7.5%. The company will be headquartered in the US and provide service to American users and most users in “the rest of the world.” Four of the company’s five board members will be American. Oracle will provide secure cloud services that satisfy national security concerns about the Chinese-owned app.
“Both companies will take part in a TikTok Global pre-IPO financing round in which they can take up to a 20% cumulative stake in the company,” TikTok said in a statement. “We
Oracle Corp. said Saturday it had reached a deal with China’s ByteDance to become the secure cloud technology provider for its video sharing app, TikTok, and take a minority stake in the company along with Walmart .
In a deal that also received the “blessing” of President Donald Trump, Oracle and Walmart would combine to own around 20% of TikTok’s global business, which includes its U.S. operations. TikTok Global, ByteDance said, will ultimately be taken public through a listing that could value the business at around $60 billion, according to Bloomberg.
ByteDance said the new company would be located in the United States, with President Trump adding that 25,000 new jobs will be created along with a $5 billion investment in ‘education fund’.
TikTok appears to have avoided a US ban at the last minute… probably. President Trump has agreed to a deal “in concept” (via CNBC) that theoretically allays US security issues while letting it operate in the country. True to earlier discussions, Oracle and Walmart would claim a 20% investment stake in a newly formed TikTok Global company that will run the social video service’s business in the US and “most of the users” worldwide. Oracle would become TikTok’s “secure cloud provider” and hold on to American data, while Walmart would wield its e-commerce and advertising technology.
The deal will also see TikTok Global pay over $5 billion in “new tax dollars” to the US Treasury, and join with Oracle, Walmart and investors like Coatue and Sequoia to launch an AI-powered educational video curriculum. The program would teach kids basics like math, reading and science, as well as more advanced
It’s unclear how the Chinese government will respond to the decision, but officials there have been agitated by Trump interfering in the operations of one of their largest tech conglomerates.
Trump had previously given TikTok’s parent company, ByteDance, the choice to either find an American buyer or shut down in the United States. The new arrangement falls short of that demand. Beijing-based ByteDance will remain a minority shareholder in TikTok, but see its power over its U.S. operations curtailed considerably.
The deal puts TikTok’s global headquarters in the U.S. Oracle and Walmart will own up to 20 percent of the newly registered company, TikTok said in a statement Saturday. Oracle put its ownership stake at 12.5 percent. Venture capital firms like General Atlantic and Sequoia will also own chunks of the company, according to a person close to the negotiations.
President Donald Trump said Saturday that he has OK’d “in concept” a deal for Oracle to acquire the US operations of popular video app TikTok, says a Bloomberg report. Trump had earlier cited national security concerns in issuing a pair of executive orders that say TikTok will be banned in the states unless such a deal goes through. A ban on US downloads of the app is set to go into effect Sunday.
The Trump administration has said it’s concerned about the TikTok app because the app collects data on its US users and TikTok’s parent company, ByteDance — a Chinese firm — could be compelled by China’s communist government to share that information. TikTok has repeatedly said such concerns are baseless.
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