Windows Phone Nokia Lumia 1020 with 41 megapixels camera

In a follow up to its previous television commercial for the Nokia Lumia 920, that mocked the rivalry between Apple and Samsung to drive home the "Switch to Lumia" message, Microsoft is now showcasing Nokia's new Lumia 1020 PureView smartphone in a different setting.

Watch the videos in youtube


Instead of a wedding ceremony, the action now moves to a school performance with anxious parents determined to capture their children's talents with their Apple iPhones and Samsung Galaxy smartphones.

It all starts with a wife chiding her husband to take a close shot of her kid with his iPhone after finding out that it's not able to zoom in to capture the performance. As he walks towards the front, we witness the other parents, keen to capture the moment, fighting with each other to grab the best position. The parents get into tiffs, mocking each other's iPhones and Galaxy phones with banter that we've heard in their respective marketing campaigns.

A parent who is using a Samsung Galaxy phone mocks the other iPhone using one saying, "2007 called, they want its camera phone back." In response to it, the other parent gives him a headbutt saying, "How's this for a drama shot." 

Chaos ensues as all the parents move forward and disrupt the performance with their antics. A single couple sitting right at the back, is however, calm and composed. The wife asks her husband why they weren't getting closer to which he responds," With the Nokia Lumia 1020, we get the best seats in the house," zooming in on a previously shot picture showing the level of detail that the phone's camera captures.

The ad ends with the usual 'Don't Fight. Switch' message.

Just like its last ad, Microsoft takes potshots at Android or rather Samsung and Apple fanboys, who get into platform wars at the slightest provocation to give a message that it has what the others don't. The ad prominently features the iPhone and Smasung Galaxy phones, while the Nokia Lumia is only seen towards the end. While it makes for a fun watch, it's difficult to say if the ad would be able to convince people enough to switch from their current mobile platform to Windows Phone.

It's noteworthy that this is not the first time that Microsoft has targeted someone through an advertising campaign.

Microsoft has also been running parody ads taking pot shots at Apple's iPad.  Recently, even Nokia released an ad for its Lumia 925 smartphone that parodies Apple's "Photos Every Day" commercial for the iPhone and compares the Lumia 925's camera with that of the iPhone by placing photos side by side in the same frame.

In November, Microsoft had launched "Scroogled" campaign through which it tried to warn consumers that they risk getting "scroogled" if they rely on Google's shopping search service

Read More

Microsoft CEO Steve Ballmer to retire in a year

Microsoft Corp said on Friday that Chief Executive Officer Steve Ballmer would retire within the next 12 months, once it has selected a successor, sending its shares up almost 9 per cent.

Ballmer said in a statement that he would have timed his retirement in the middle of Microsoft's announced transformation to a devices and services company. But he said: "We need a CEO who will be here longer term for this new direction."

The software company said its board had appointed a special committee to direct the process of appointing a new CEO.

The committee is chaired by John Thompson, the board's lead independent director, and includes Microsoft founder and Chairman Bill Gates, as well as other board members Chuck Noski and Steve Luczo.

It will consider both external and internal candidates and is working with executive recruiting firm Heidrick & Struggles International Inc(HSII.O), according to the company.

Microsoft shares rose 8.9 per cent to $35.27 in premarket trading.

Read More

World's cheapest car TATA "Nano" gets image makeover

The "world's cheapest car" is getting a makeover because buyers have shunned the low-budget image.

The Nano, made by India's Tata group, is being re-positioned as a smart city car following disappointing sales.

"We are now focusing on increasing the features and the perceived value of the Nano with every subsequent model launch," said chairman Cyrus Mistry.

Launched in 2009 with a price of 100,000 rupees (£1,400), the car's poor sales were blamed on an image problem.

Tata, which owns the UK's Land Rover and Jaguar brands, hoped the Nano would appeal to Indian families looking to enter the car-buying market.

Mr Mistry told Tata's annual shareholders meeting, in Mumbai, that new Nanos would include power steering options, an improved interior and exterior, be available in more colours, and have better fuel efficiency.

"We are now focusing on making it a smart city car and targeting the young customers," he said.

Read More

PS4 release date, price, controller & specs news

After E3 Sony looks to be in the lead with its impressive PS4. A lower price, more powerful hardware and a popular stance against DRM from the off, put it ahead of its main rival after the first hurdle. Here we’ll go through everything we know about the PS4 and also highlight everything we still don’t know. We’ll compare it to the competition and look at where a PS4-dominated future might take console gaming.




Below is the full E3 press conference, though there’s a lot of pre-amble so skip ahead to 33min in to get the start of the presentation, and right up to 54mins if you want to skip all the PS3 and Vita stuff and get straight on with the PS4 content.

If you missed out on the initial PS4 announcement event, which contains a lot more hardware information, you can watch a condensed version below.

There’s quite a lot to get through so we’ve broken it down into key sections.

PS4 RELEASE DATE AND STOCK
The PS4 release date has now been announced, with the UK and much of Europe receiving the console on the 29th of November, two weeks after the US launch date of November the 15th. It's a little later than we'd hope for, though it's still well before Christmas, so those with pre-orders will have their new consoles well bedded in before the holidays.

The release date is a friday, so you might want to consider booking the day off work so you can enjoy a long leisurely weekend with your new investment.

PS4 release date

There's no date yet for the competing Xbox One console, though we feel that Microsoft may try and make up some of the ground it lost at E3 by pipping Sony to the launch by a week or two and so harvesting more media attention.

Sony announced last night that it had over one million pre-orders. How many will be available to buy on day of release is still unknown though, our only advice is to get your pre-order in now with your preferred retailer. Especially as pre-orders to date have apparently numbered twice that of the last big console launches, see Xbox One and PS4 pre-orders almost double that of last generation consoles.

Leaks from Gamestop in the US look to say that PS4 hardware will be in good supply when compared to its competitor (read PS4 supply to greatly exceed Xbox One at launch, according to Gamestop), but with serious gamers looking to prefer the Sony console at present, we wouldn't take any risks.

PS4 PRICE
PS4 UK Price

The PS4 will cost £349 in the UK, EUR399 in mainland europe and $399 dollars in the US. We were hoping for a price closer to £300 over here, but even considering the lack of a bundled camera peripheral, the price is far easier to swallow thatn the £429 for the Xbox One.

It does seem that we’ve been we’ve got the short end of the stick again when it comes to exchange rates, with the PS4 costing approximately £42 more here than it should. For more details on this read our PS4 Price - We lose out in exchange rate calculation.

PS4 DRM AND USED GAMES
Video games are often presented as being cutting-edge entertainment, but at E3 Sony struck a massive blow against its main rival by simply standing still. DRM, digital licensing and mandatory internet connections have become big topics in this fledgling console war. Microsoft’s plan was to join the likes of Apple, Amazon and Steam - with content that lives in the cloud and is attached to your user account rather than physical media - with all the restrictions and advantages that entails.


Sony subtly presents its point to Microsoft

It wasn’t a popular move though, or at least not popular with those on gaming websites, forums and twitter. And so Sony scored an open goal by announcing that disc-based games would work the same as ever, yours to play, yours to sell and yours to lend. This sounded simple compared to the Xbox One’s DRM system, which Microsoft U-turned on within days of E3 and announced that it too would continue with DRM-free physical media.

PS4 DRM-free
Sony took moral high ground in the DRM battle, forcing Microsoft to back down on its proposals

However, don't let that victory trick you into thinking this issue is dead and buried. It only applies to first-party Sony games, with third-party publishers free to implement whatever DRM restrictions they can invent. That leaves PS4 gamers in the same position as they are today, with constant incremental implementation of DRM by publishers.

We hope we’re wrong and that DRM issues will not be a big issue on the PS4, but gaming is swimming against the tide here and we’re pessimistic that it will soon follow the likes of Apple and Steam. Many are picturing Microsoft as the big bad and Sony as a knight in shining armour, but until we get some clear answers to our questions (Sony hasn't been able to comment so far) we’ll be wary.

We're interested in such things as:
1. Has Sony made any commitment to getting all games on sale through PSN on the day of disc release? (first party and/or third party)
2. Will Sony be allowing gamers to share PSN purchases with friends/family on other consoles
3. Will PSN purchases be locked to a user account or to the console, or both in some way?
4. Will others on your PS4 be able to play multi-player online under their own ‘Truenames’ or will it only be the PS Plus subscriber?

Primarily, we want to know whether or not third-party publishers will be limited by Sony in their implementation of DRM through user accounts, with regards to gamers using cloud features, multiplayer, patches and other online components. The way gaming is moving, it’s all well and good to argue that you want to play single-player games alone and offline, but that is increasingly becoming sidelined, with single-player, multi-player and co-op all being blended together - such as in Bungie’s Destiny.

Some good news has come out, with Sony stating that you will be able to take games you have bought online and downloaded and play them at friend's houses by logging into their console, but this is no different to how most current consoles function. For more information read: PS4 game sharing, Play As You Download features detailed

PS4
Who will have the final say on DRM, Sony or third-party publishers, our guess is the latter

CONSOLE DESIGN
After months of waiting, Sony has finally revealed its hardware. The console looks great, with a split design, both around the middle and across the top. The raked front looks cool and it’s fairly compact too - measuring just 305x53x275mm, less than an estimated 343x80x263mm for the Xbox One.

It has a built-in power supply, so there’s no external power brick to deal with and the ports on the rear are kept to necessities: HDMI, optical S/PDIF, two USB3 and a mysterious AUX port. The original spec we saw listed an AV output, but there’s no sign of that on the device shown in up-to-date press shots.

Our only concern is that the design is fairly slender, with air vents on the rear, which suggests the use of either small fans at the rear or a central fan that pushes air out sideways. In our experience this could make the device louder and whinier than the Xbox One, which has a single, massive, top-mounted fan to help the hot air go where it wants to go anyway - up. Our worries are further conmpounded by the PS4's more powerful GPU and the extra heat it will generate.

PS4 console
The new console is hardly groundbreaking but it’s compact and has a built-in power supply, so it’s a big thumbs up from us

You can read a full specs sheet here: full press release PDF from Sony. And the console is reportedly region free, so you’ll be able to play games bought anywhere in the world - presuming you can read Japanese of course.

PS4 SPECS
Here's the official listing of the PS4 specification as it stands


Main Processor:
Single-chip custom processor
CPU: x86-64 AMD 'Jaguar' 8 cores 
GPU: 1.84 TFLOPS, AMD next-generation Radeon™ based graphics engine

Memory:
GDDR5 8GB

Hard Disk Drive: 
Built-in 500GB

Size and weight:
305x53x275mm and 2.8kg

Optical Drive (read only):
BD 6xCAV 
DVD 8xCAV

I/O and communication: 
Super-Speed USB (USB 3.0)
AUX 
Ethernet (10BASE-T, 100BASE-TX, 1000BASE-T)
IEEE 802.11 b/g/n
Bluetooth® 2.1 (EDR)

AV output:
HDMI
Digital Output (optical)


PS4 PROCESSOR AND GRAPHICS
It's been widely-known for some time that the PS4 would use AMD technology, both for its CPU and GPU elements – as is the remarkably similar Xbox One.

It turns out that the PS4 looks to be significantly more powerful than the Xbox One two areas, Memory and GPU, the reasons for which we’ll explore here. Even Sony, who has been rather quiet on this front has started trumpeting its technical superiority, see Sony claims PS4 will offer better graphics than the Xbox One.

PS4
Hardware details were thin on the ground at the launch

MEMORY

Even what proved to be the most reliable leaks said that the PS4 would have 4GB of system memory. It was theorised that use of a single pool of fast GDDR5 memory would more than make up for the 8GB of slower memory in the Xbox One . However, when the reveal came, we were pleasantly surprised to find that the PS4 will have a whopping 8GB of superfast memory.

The change was due thanks to tumbling memory prices of the once very expensive GDDR5 memory, combined with a simple architecture on the PS4 that allowed the single lump of memory could be easily increased in size without affecting other components.

This fast and unified memory system is seen by Sony as its main advantage against the Xbox One, and looked at historical precedents, the console with the most simple and streamlined architecture has usually gained the upper hand. Sony’s lead system architect is certainly in a bullish mode though, describing the system as ‘Supercharged’ here: PS4 lead architect describes its "supercharged PC" design

GPU

The PS4 and Xbox One GPUs look to use practically identical hardware designs, both from AMD and both very similar to the recently released AMD Radeon 7790. However, the PS4 GPU looks to have 50 per cent more compute units than the Xbox One. This has been long known from detailed technical leaks that appeared on VG Leaks and then further confirmed in briefings after the XBox One launch, where a Microsoft engineer stated the Xbox One had 768 compute units - 50% less than the PS4’s 1,152 units.

That disparity alone should mean that the PS4 will run third-party games smoother and with more graphical details. However, as confirmed in the initial PS4 reveal, these can be used for more than just graphics, with Sony showing off an impressive Havok physics demo, with thousands of objects bouncing about – largely managed by the GPU.

Console comparisons aside, the bottom line for a next-gen console is fairly obvious. It should be able to run graphically detailed games at 1080p and 60fps, and preferably also cope with the processing overheads of 3D as well. The PS4 looks well equipped to do this.

Quantic Dream shows what’s possible with the PS4 hardware

More recently Microsoft has reported that the Xbox One GPU will be clocked up to 853MHz, making it a little faster than Sony's current 800MHz rumoured speed. It certainly closes the gap, but only by a very small degree. See our Xbox One specs, news, features, price & release date for more details.

PS4 PORTS
When it comes ports, connectivity and video output there was very little space for manoeuvre, and the PS4 is equipped as expected. A HDMI output, built-in Wi-Fi and an Ethernet port are all most people need, there's also an S/PDIF output for older surround sound hardware. Bluetooth remains of course – and continues to be used for all controllers.

It wasn't mentioned during the announcement, but after the event Sony Worldwide Studios President Shuhei Yoshida confirmed that the PS4 would support 4K resolutions - but only for video playback. This isn't a surprise, as playing 4K video isn't taxing for a next-gen console and HDMI 1.4 supports the resolution required – up to 4,096×2,160p at 24 Hz - the same as in digital cinemas. The big question is then how such content would be supplied?

PS4 console
Sony has kept the ports to a sensible minimum

HDMI 1.4 will also bring support for Ethernet channel, so it would be possible for your PS4 get a network connection from your AV Receiver, cutting down on cabling - presuming of course you have the right kit.

STANDBY, UPDATES AND CONTROLLER CHARGING
One of our biggest complaints about the PS3 was the size and regularity of its system updates. We'd often turn on the console for a quick game of something, only to have to wait for ages for a massive update to download and install. With the PS4, Sony claims to have solved these problems, with downloads and updates occurring in the background, even when the console is in its 'Standby Mode' so it should always be ready to go.

The Standby Mode has other uses too, the console will now be able to charge the new DualShock 4 controller (via Micro USB) while powered-down - and will probably be able to charge your phone or tablet too, which is handy.

PS4
More playing and less waiting, sounds great

The PS4 will also be capable of going into a Suspend Mode mid-game, which means that tedious boot-up and game loading times should be a thing of the past. Simply go into standby when you want a break, and be able to resume from where you left off at a push of a button when you're ready. This is fantastic news, cutting down on waiting time and increasing playing time.

You'll also be able to start playing demos and downloaded games before they fully download. Essentially, the PS4 will download the core game code and the first level, and then download the rest as you play. Again, less waiting, more playing.

We don't have any cold boot times, boot from Standby times, or power usage figures for the PS4 as of yet. But we'll keep you updated as we get more information.

PS4 STORAGE AND BLU-RAY
The specification of the PS4 includes a 500GB traditional hard disk. We'd have loved to have a super-fast SSD drive in our PS4, but that was unrealistic at launch. Thankfully, Sony continue to provide the option to swap drives as you wish, with compatibility for standard 2.5in models, so we should be able to add our own SSD in the future.

Blu-ray is a must for PS4, the PS3 came a little too early for Sony to comfortably include the hardware, but it still pushed ahead with it at great cost. These days, Blu-ray is one of the defining parts of the PlayStation brand and essential for delivering huge amounts of data for top-end games.

Blu-ray wasn't mentioned at all at the event, we're guessing that was just to keep things centred on games; it is in the specification though and the good news is that read speeds have risen from a measly 2x to a more respectable 6x. This will hugely speed up game installation times.

PS4 CLOUD GAMING AND SHARING
With its purchase of Gaikai last year, Sony was always likely to be pushing cloud gaming on the PS4. Still we're impressed how much the company has achieved on PS4 in just seven months, since its acquisition in July 2012. It goes well beyond just being able to play demos without downloading them too, with the PS4 able to connect with other devices, and your friends, in ingenious ways.

SHARED PLAY

For starters, the PS4 has built-in video compression hardware, which constantly records your gaming as you play. Using the new Share button on the PS4 controller, you can instantly grab a section of gameplay using simple edit controls and post it to say your PSN profile or Facebook. For more details see our Xbox One and PS4 gameplay recording features detailed.

Live streaming is also possible through the popular Ustream sevice – so you'll be able to stream constant footage to you fans – presuming you're some kind of pro gamer.

It goes one step further though, allowing others to join in your gaming session, from which they can talk you through difficult parts or even (with your permission) take over the controls to help you out directly when you get stuck. We're not sure how popular this will be, but games developers might be able to spin it into something far more intriguing – possibly even central to a clever indie game – where you have to help out other players by taking temporary control of their characters.

PS4
PS4
The cloud gaming system looks impressive, with the ability to instantly share and stream video, as well as allow a friend to take over the controls to help out

The PS4 can also stream video to a Sony PlayStation Vita, in much the same way as the Wii U can stream video to its tablet-like controller. This will allow gamers to play when the TV is being used for other purposes. It wasn't stated what range such a feature will have, but you might be able to play games remotely (presuming a quick enough broadband connection) when away from home. This would of course mean you'd need to be able to turn the PS4 on-and-off remotely. Dave Perry of Gaikai said it was an aim of there's to have every PS4 game playable on the Vita, though we think the number supported will depend on Vita sales and developer support.

There's even rumour of a PS4 and PS Vita doublepack going on sale to make the most of the relationship between the two devices, see PS4 and PS Vita bundle pack rumoured.

PS4
Other devices will be supported, but we don't know to what extent you'll be able to play PS4 games on them

STREAMING GAMES

Gaikai's tech also allows you to do more traditional streaming from Sony's servers. As expected, you'll be able to play demos from the PlayStation Store without having to download them first. Beyond this, the store will have a TiVo-style style system that will automatically download demos and games in the background based on your gaming preferences (such as trophies won in other titles).

Streaming of full games via Gaikia has now been confirmed for an early 2014 launch in the US, with other countries coming later.

TRUE NAME

THe PS4 will include a function that will allow you to use your real name online. This will be optional, so you can get your anonymous moniker if you prefer. You'll also be able to add friends from other social networks (Facebook essentially), and then be able to see each other's real names when playing, while others will only see your anonymous name. It's a brilliant idea and one that will help you keep an eye on your friends online without having to remember what ridiculous moniker they go by on that particular service.

PS4 INTERFACE
PS4
The new PS4 interface looks to modelled after the latest update to the current PlayStation Store on PS3

The interface on the PS4 will be about much more than launching games, playing Blu-ray and having game-based social experiences with your friends. Sony is keen to also provide a wide range of content - as its Head of Worldwide Studios stated recently: PS4 will continue battle for living room says Sony's Shuhei Yoshida. Yoshida noted that they hadn’t wanted to distract attention from its games playing potential at the initial unveiling but that there was a lot more to the PS4 than that.

More content to be added after the E3 unveiling when we should be able to see the full interface in action

PS4 CONTROLLER - DUALSHOCK 4
After seeing many leaked pictures of the new controller, it was hardly a surprise when we saw it onstage. The final controller, though, is a far more refined version than the prototype that's knocking about with development kits. It's nicely sculpted, has what appears to be a grippy underside, and every facet is redesigned, while still keeping the iconic layout largely intact.

PS4
The new PS4 DualShock 4 being officially unveiled

It has a small touchpad above the analogue sticks and a coloured light on the front. In this respect it includes functionality we've seen on both the Vita (which has a rear touchpad) and in Sony's motion-based Move controllers. A speaker is also built-in, allowing for local audio effects and a headphone socket too - probably for headset use, but we're also hoping for Bluetooth audio for easier headphone use while playing - very handy for split-screen gaming.

The button layout has been rejigged, with a new 'Share' button added for quick access to social media. Check out our Cloud Gaming section for more details. For further details see PS4 controller revealed as the DualShock 4

There's also a new Eye device with two 1,280x800 resolution cameras – 4x the previous camera's resolution. This gives increased accuracy to pick up the existing Move controllers or the new DualShock 4. You can read more about this at PS Eye revealed for PS4.

The eye will be an optional extra for the PS4, with an RRP of £44, so don’t expect it to be as fully integrated into games as with the Xbox One’s bundled Kinect device. There are rumours the camera was going to be bundled with the console but it was dropped in order to undercut the Xbox One on price - see Sony removed PS4 Camera from bundle to undercut Xbox One.

Despite the lack of a camera in the box, Sony will still be bundling a free augmented-reality game with the console to encourage you to buy one, for more details on the game read Sony PS4 to be bundled with The Playroom AR game, despite lack of camera.

PS Eye
It's not much to look at, but it sees all

PS4 GAMES
We’re working on a best PS4 games article at present, once we've had a chance to play some more of the release titles.

CONCLUSION
The PS4 is in the driving seat for now, with more powerful hardware and a lower price. The Xbox One has its advantages too, but at present our money is on the PS4.

Source: http://www.expertreviews.co.uk/games/1298257/ps4-release-date-price-controller-specs-news

Read More

Tesla Model S Scores Better Than Perfect On Safety Tests

Consumer Reports loves Tesla because "its pinpoint handling is reminiscent of a Porsche." Motor Trend Magazine loves Tesla Model S because it's "a gorgeous car and a packaging miracle."

Now, the National Highway Traffic Safety Administration loves it, because it can withstand a hit like no other car they've seen. The Tesla Model S scored five star ratings across all of the NHTSA's crash tests.

The Model S even achieved a better than perfect score.

"Safety levels better than 5 stars are captured in the overall Vehicle Safety Score (VSS) provided to manufacturers," Tesla Motors said in a statement. "The Model S achieved a new combined record of 5.4 stars."

Maybe it's because the Model S is entirely electric that helped out with its rating.

Read More

Mercedes-Benz Concept GLA

The production version of the Mercedes-Benz Concept GLA crossover broke cover on 14 August, four weeks ahead of its formal unveiling at the 2013 Frankfurt motor show.

Targeted toward the entry-level luxury motorist who might find the marque’s compact cars a touch too tiny, the 2015 GLA-Class (which shares its platform with the A-, B- and CLA-Class) also serves to put young buyers on the utility-oriented G-Class path – a massive profit centre for Mercedes – early.

It will take a discerning eye to gauge what was lost or gained in translation from concept to production, but generally, the Concept CLA has surrendered some of its rough ‘n’ rugged mien. Whereas in Shanghai it bore chrome skid plates, for production the plates have been abbreviated and rendered in matte-black plastic, with the rear bumper receiving non-functional vents. Wheels have also shrunk – as concept-car wheels are wont to do – while fog lamps have been removed entirely from the front fascia. For all that, however, Mercedes has stayed uncommonly faithful to its Shanghai car.

The production vehicles are scheduled to reach global showrooms in fall 2014.

Images of Mercedes-Benz Concept GLA

Read More

Eurozone edges out of recession

The eurozone has climbed out of recession with better-than-expected growth of 0.3 percent in the second quarter led by Germany and France, the European Union has said.

Data agency Eurostat said on Wednesday that the 18-month downturn which has cost millions of jobs and crushed debt-laden governments around the single currency area ended thanks in large part to better-than-expected gains of 0.7 percent in Germany and 0.5 percent in France.

"A sustained recovery is now within reach but only if we persevere on all fronts of our crisis response," EU Economic Affairs Commissioner Olli Rehn said.

The 17 countries sharing the euro needed seven quarters to return to growth of 0.3 percent, on a seasonally adjusted basis, in the three months to June, Eurostat showed.

Confirming a fragmented picture of the rebound, Spain's economy fell by 0.1 percent on the quarter, while Italy and the Netherlands both dropped by 0.2 percent. 

According to Eurostat, bailed eurozone peer Portugal posted a 1.1 percent expansion, showing the fastest growth in the eurozone in the three months to June.

Portugal’s National Statistics Institute said stronger economic activity in the period was due to higher exports and an easing of previous contraction in investment.

The economy fell in the second quarter by 0.7 percent, compared with the same period last year, with the market anticipating a 0.8 percent decline.

The single currency area, however, now faces an uneven and bumpy recovery dented by record high joblessness and belt-tightening austerity in peripheral countries, which need to speed up market reforms, boost growth and create new jobs.

Read More

INS Vikrant - India's first indigenous aircraft carrier

India launched its first indigenous aircraft carrier INS Vikrant on 12th August, 2013, making an entry into a select club of countries capable of designing and building a carrier of this size and capability.

Defence Minister A.K. Antony's wife Elizabeth Antony launched the 37,500 tonne carrier at Cochin Shipyard close to four-and-a-half years a

fter its keel was laid by the minister. Antony said this was an "important" first step towards a long journey in the area of warship building for the country. Other countries capable of designing and building an equivalent size ship are the US, the UK, Russia and France.

The launch marked the end of the first phase of its construction and now it will be re-docked for outfitting and construction of superstructure. It is set to go for extensive trials in 2016 before being inducted into the Navy by 2018 end, as per its schedule.

INS Vikrant is the second aircraft carrier of the same name. Its predecessor was decommissioned in 1997 after having played a significant role in the 1971 war with Pakistan. India is currently operating one aircraft carrier INS Viraat, which is likely to be decommissioned in 2018-19 after INS Vikrant joins operational service.

Read More

Micromax owners arrested for paying bribe

Police in India have arrested the two owners of mobile phone maker Micromax Informatics for allegedly paying a bribe to civic officials.

Rajesh Aggarwal of Micromax mobiles

Rajesh Agrawal and Manish Tuli were caught paying 3m rupees ($49,000; £31,652) to civic workers, police said.

Two officials of the Delhi municipal corporation were also arrested.

Although Mr Agrawal and Mr Tuli have not yet commented, Micromax said it had "nothing to do with alleged personal misconduct of arrested individuals".

Officials of the Central Bureau of Investigation (CBI) were quoted by the Press Trust of India news agency as saying that they got "a tip-off" that the Micromax owners had "entered a deal with the engineers of the civic body to get clearance for construction of a banquet hall in the Wazirpur area".

CBI officials alleged that they caught the two men "red-handed" as they were handing over the money to the civic officials, PTI added.

Micromax, a domestic handset manufacturer, was the second biggest smartphone vendor in India in the first quarter of this year.

The company has made a dent in the Indian smartphones market by offering Android-based phones at below $75 while the lowest-priced Apple and Samsung smartphones sell for $490 (£316) and $113 (£73) respectively.

Read More

Tesla Motors stock up by 300%

After a 300% run year-to-date and continued focus by short-sellers, the run might be over

 Tesla Motors (TSLA) stock has soared about 300% year-to-date thanks to a host of great headlines. But shares have started to soften up big-time in anticipation of Tesla earnings today, and that could mean a painful turn for TSLA stock.

Tesla earnings are going to have to show a strong backlog, robust production and some firming up in admittedly thin profit margins. After Tesla boasted a surprise profit last quarter, the bar is mighty high for TSLA this time around.

Sure, the Tesla Model S is a thing of beauty and won the highest-ever rating from Consumer Reports. And yes, Tesla’s expanding Supercharger Network and profitability shows that this company is not a fad.

But 300% gains in TSLA stock? Thanks largely to the bears being proven wrong and a mammoth run of short squeezes? That’s hardly sustainable – and investors need to be prepared for continued volatility after Tesla earnings.

Remember, the company generated 12% of Q1 from selling its zero-emission credits to other automakers. In 2012, California set tougher zero-emission vehicle standards that upped the requirement for Honda (HMC), Toyota (TM), General Motors (GM), Ford (F) and Nissan (NSANY) to produce a certain number of ZEVs. But there’s a provision that allows these automakers to simply pay Tesla in exchange for a credit that allows automakers to count some Model S sales toward their ZEV quota … and given the success of Tesla, you can bet that models like the Nissan Leaf have been a big focus of automakers recently.

That might not erode the credits anytime soon, but between supply issues at Tesla and competition from entrenched automakers, there will inevitably be a slowdown in momentum soon.

As of mid-May, 37% of Tesla’s float was still held short. That dropped to under 30% in mid-July, but it’s still pretty darn clear that the bears are lurking in anticipation of disappointing Tesla earnings.

And the recent big move down hints that the bears might be right on Tesla earnings this time around.

I think Tesla is a compelling story and will be here for a while. But investors might want to consider taking some profits off the table in advance of Tesla earnings, because the volatility is going to get severe.

If just a 6% decline can happen on no news in anticipation of next week’s Tesla earning

Read More

BMW i3 all-electric vehicle debuts production, likely to hit in Nov-13

BMW recently debuted the production version of its innovative electric vehicle, the BMW i3, simultaneously in New York, London and Beijing. The BMW i3 will be released in Germany and other European markets in November 2013. The market launch of the BMW i3 in USA, China, Japan and several other markets will take place in the first half of 2014. The base price for the BMW i3 has been set at 34,950 Euros (Rs 27.56 lakh) in Germany. If customers opt to purchase the Range Extender as an extra, the price in Germany will amount to 39,450 Euros (Rs 31.10 lakh)

The BMW i3 sprints from 0 to 60 km/h in 3.7 seconds and from 0 to 100 km/h in 7.2 seconds. Its top speed is limited to 150 km/h for efficiency reasons. 


Over a period of three years, the maintenance and running costs for a BMW i3 are about 40% lower than those of a highly-economical 320dA registered in Germany. In other countries, figures may even be lower, depending on the level of subsidies available for electric vehicles.

Read More

Facebook shares rose above $38

Facebook shares have risen above the $38 flotation level for the first time since they began trading in 2012.

The world's largest social networking site saw its price rise 1.2% to $38.08 in early morning trading, giving the company a market valuation of $92bn,

Facebook

The company's shares have been boosted since the company reported stronger-than-expected earnings on 24 July.

Investors have been encouraged by the fast growth of Facebook's mobile advertising revenue.

It now derives 41% of its total ad revenue from mobile.

Facebook's flotation in May 2012 got off to a disastrous start as shareholders took fright over the company's apparent lack of mobile strategy and slowing revenue growth.

Some accused founder Mark Zuckerberg of overhyping the company's growth forecasts.

Just three months after the flotation, the share price had collapsed to about $18, wiping $48bn off the company's stock market value.

But the company's recent forecast-beating results have helped restore investor confidence.

Read More