Facebook is aggressively moving towards its multibillion dollar IPO. As Company has acquired few firms to boost up its strong footing in technology world before IPO. In a latest news from Facebook Inc, the company acquired Glancee, a mobile start-up that focuses on discovery of similar folks nearby.
“We can’t wait for co-founders Andrea, Alberto and Gabriel to join the Facebook team to work on products that help people discover new places and share them with friends,” Facebook toldAllThingsD in a statement.
To date, Facebook has admitted to maintaining one product independently of Facebook, the billion-dollar Instagram. Despite this acquisition, following the Instagram purchase Facebook will most likely use the technology to ramp up its existing mobile application.
As of late, Glancee competitors began to pop up, including the much-hyped Highlight application, the profile of which rose tremendously during South By Southwest 2012. One of the main issues with Highlight — and similar applications like Glancee — is the serious drain on battery life that the ambient discovery app causes while running in the background of the mobile phone.
The fundamental premise of services like Glancee or Highlight is that you’re surrounded by folks you would probably get along with; based on shared interests or connections, these apps hook you up with others.
But, of course, there’s the sticky issue of privacy, which Facebook knows all too well. Not everyone wants a new friend coming up and saying hello, however novel the app idea is.
Regardless, it signals that Facebook remains committed to innovating in mobile. And that’s important, considering that nearly half of the company’s monthly visitors are accessing the site on a mobile device.
The final sum and terms of the deal were not disclosed, but all three co-founding members of the Glancee team will join Facebook at its Menlo Park campus.
“We can’t wait for co-founders Andrea, Alberto and Gabriel to join the Facebook team to work on products that help people discover new places and share them with friends,” Facebook toldAllThingsD in a statement.
| Glancee |
As of late, Glancee competitors began to pop up, including the much-hyped Highlight application, the profile of which rose tremendously during South By Southwest 2012. One of the main issues with Highlight — and similar applications like Glancee — is the serious drain on battery life that the ambient discovery app causes while running in the background of the mobile phone.
The fundamental premise of services like Glancee or Highlight is that you’re surrounded by folks you would probably get along with; based on shared interests or connections, these apps hook you up with others.
But, of course, there’s the sticky issue of privacy, which Facebook knows all too well. Not everyone wants a new friend coming up and saying hello, however novel the app idea is.
Regardless, it signals that Facebook remains committed to innovating in mobile. And that’s important, considering that nearly half of the company’s monthly visitors are accessing the site on a mobile device.
The final sum and terms of the deal were not disclosed, but all three co-founding members of the Glancee team will join Facebook at its Menlo Park campus.
"Marvel's The Avengers" hits US and Canadian theaters with record sales of more than $ 200 millions this weekend for the Box Office.
Revenue topped the previous best of $169.2 million set by “Harry Potter and the Deathly Hallows: Part 2” last year, researcher Hollywood.com Box-Office said today in an e-mailed statement. Analysts had forecast sales of $150 million to $170 million for “The Avengers.”
Jeremy Renner, Chris Evans, Scarlett Johansson perform in "The Avengers," from Walt Disney Studios. Photographer: Zade Rosenthal/Marvel via Bloomberg
Summer ticket sales are expected to surpass the record of $4.4 billion set last year, according to Jeff Bock, box-office analyst at Exhibitor Relations Co. Other films scheduled in the coming weeks include Warner Bros.’ “The Dark Knight Rises,” directed by Christopher Nolan, and Sony Corp. (6758)’s “Men in Black 3,” a sequel that reunites Will Smith and Tommy Lee Jones as government agents managing Earth’s secret alien population.
“The Avengers” is the first Marvel movie Disney is distributing since buying the comic-book company for $4.2 billion in 2009. The movie provides Burbank, California-based Disney with a hit after the box-office failure of “John Carter,” the science-fiction film released in March that resulted in a $200 million loss for the company.
Rich Ross, the head of Disney’s film unit, resigned in April, and the company hasn’t yet hired a replacement. Disney is scheduled to report fiscal second-quarter results on May 8.
Revenue topped the previous best of $169.2 million set by “Harry Potter and the Deathly Hallows: Part 2” last year, researcher Hollywood.com Box-Office said today in an e-mailed statement. Analysts had forecast sales of $150 million to $170 million for “The Avengers.”
Jeremy Renner, Chris Evans, Scarlett Johansson perform in "The Avengers," from Walt Disney Studios. Photographer: Zade Rosenthal/Marvel via Bloomberg
| The Avengers |
Summer ticket sales are expected to surpass the record of $4.4 billion set last year, according to Jeff Bock, box-office analyst at Exhibitor Relations Co. Other films scheduled in the coming weeks include Warner Bros.’ “The Dark Knight Rises,” directed by Christopher Nolan, and Sony Corp. (6758)’s “Men in Black 3,” a sequel that reunites Will Smith and Tommy Lee Jones as government agents managing Earth’s secret alien population.
“The Avengers” is the first Marvel movie Disney is distributing since buying the comic-book company for $4.2 billion in 2009. The movie provides Burbank, California-based Disney with a hit after the box-office failure of “John Carter,” the science-fiction film released in March that resulted in a $200 million loss for the company.
Rich Ross, the head of Disney’s film unit, resigned in April, and the company hasn’t yet hired a replacement. Disney is scheduled to report fiscal second-quarter results on May 8.
In a final verdict to the french elections, Francois Hollande defeated French President Nicolas Sarkozy as country favored socialist ruled government for the first time in 17 years.
The 57-year-old Hollande got about 52 percent against about 48 percent for Sarkozy, according to estimates by pollsters CSA and Harris Interactive. The campaign isn’t over; France elects its lower house of parliament in five weeks.
French Socialist Party leader and presidential candidate Francois Hollande, right, greets people as he leaves the polling station during the second round of presidential election in Tulle, southwestern France.
The challenger inherits an economy that is barely growing, with jobless claims at their highest in 12 years and a rising debt load that makes France vulnerable to the financial crisis that has rocked the euro region the past two years. Sarkozy became the ninth euro leader to fall in that time and the first French president in 30 years to fail to win re-election.
“Hollande’s bet was that rejection of Nicolas Sarkozy was enough to get him elected,” Dominique Reynie, senior researcher at Paris’s Institute of Political Studies, said before the vote. “The message was that if you don’t like Sarkozy then I’m your best bet.”
Sarkozy’s departure may sharpen tensions with key allies as Hollande has advocated a more aggressive European Central Bank role in spurring growth -- a measure opposed by Germany -- and an accelerated withdrawal from Afghanistan.
While Socialists stand ready to dominate policy making for the first time since 1993 -- holding both the presidency and the Cabinet -- bond yields suggest Hollande may maintain market confidence. Ten-year French debt yields 124 basis points more than comparable German securities. That’s down from 145 basis points after he won the first round April 22 and lower than the 133 basis points at the start of the year.
.jpg/220px-Fran%C3%A7ois_Hollande_-_Janvier_2012_(cropped).jpg) |
| Francois Hollande |
The 57-year-old Hollande got about 52 percent against about 48 percent for Sarkozy, according to estimates by pollsters CSA and Harris Interactive. The campaign isn’t over; France elects its lower house of parliament in five weeks.
French Socialist Party leader and presidential candidate Francois Hollande, right, greets people as he leaves the polling station during the second round of presidential election in Tulle, southwestern France.
The challenger inherits an economy that is barely growing, with jobless claims at their highest in 12 years and a rising debt load that makes France vulnerable to the financial crisis that has rocked the euro region the past two years. Sarkozy became the ninth euro leader to fall in that time and the first French president in 30 years to fail to win re-election.
“Hollande’s bet was that rejection of Nicolas Sarkozy was enough to get him elected,” Dominique Reynie, senior researcher at Paris’s Institute of Political Studies, said before the vote. “The message was that if you don’t like Sarkozy then I’m your best bet.”
Sarkozy’s departure may sharpen tensions with key allies as Hollande has advocated a more aggressive European Central Bank role in spurring growth -- a measure opposed by Germany -- and an accelerated withdrawal from Afghanistan.
While Socialists stand ready to dominate policy making for the first time since 1993 -- holding both the presidency and the Cabinet -- bond yields suggest Hollande may maintain market confidence. Ten-year French debt yields 124 basis points more than comparable German securities. That’s down from 145 basis points after he won the first round April 22 and lower than the 133 basis points at the start of the year.
Keyboards for the iPad are not a new invention, but Logitech is throwing its own offering into the ring: The new Logitech Solar Keyboard Folio constructed especially for the iPad.
The keyboard can charge in any light: Tech2.in
Tech2in reports that the new keyboard is similar to Logitech’s solar keyboards for Mac and PC, and includes onboard solar cells that charge the built-in Bluetooth keyboard in any light, whether indoors or outdoors. When fully charged, the battery lasts for up to two years, even in complete darkness (based on an average use of two hours per day).
The folio also has two stand positions, so that users have a choice of viewing angles.Tech2in reports, “Open the folio and place your iPad in the first position to use the full keyboard when you’re typing. Place your iPad in the second position and the first keyboard row acts as your one-touch media playback and volume controls, so you can play, pause and change volume instantly. The folio also has an instant On/Off function, which means your iPad automatically wakes when you open the folio and goes on standby when you close it.”
The Logitech Solar Keyboard Folio is expected to be available later this month, for a suggested retail price of $129.99 (approx 6,887).
The keyboard can charge in any light: Tech2.in
Tech2in reports that the new keyboard is similar to Logitech’s solar keyboards for Mac and PC, and includes onboard solar cells that charge the built-in Bluetooth keyboard in any light, whether indoors or outdoors. When fully charged, the battery lasts for up to two years, even in complete darkness (based on an average use of two hours per day).
The folio also has two stand positions, so that users have a choice of viewing angles.Tech2in reports, “Open the folio and place your iPad in the first position to use the full keyboard when you’re typing. Place your iPad in the second position and the first keyboard row acts as your one-touch media playback and volume controls, so you can play, pause and change volume instantly. The folio also has an instant On/Off function, which means your iPad automatically wakes when you open the folio and goes on standby when you close it.”
The Logitech Solar Keyboard Folio is expected to be available later this month, for a suggested retail price of $129.99 (approx 6,887).
"Satyamev Jayate " a first TV appearance of Aamit Khan, was begun today. With a lot of advertisement and publicity, the show portrayed the message on the first telecast on Air. Aamir's hosting could live up to the expectations and might get a busy Sunday for all the Indians from now.
It could give a boost to already struggling team anna in a national movement, if it hits right. As it seems to be. Anna Hazare will get more public support if such political topics get covered later in the episodes
What’s the show about?
What’s the show about?
It’s clear, now, that Satyamev Jayate will highlight problems in India that we are all familiar with. The construct will be along these lines: a) definition of a problem b) demonstration of the impact of the problem c) the reaction of the authorities to dealing with the problem d) Aamir’s suggested action e) call for viewers’ involvement and support.
What makes the show interesting is that there will be an element of ‘naming and shaming’. Each episode, while focusing on victims will name the wrongdoers – even if we do not see or hear them.
Today, the show focused on female foeticide and its impact. It showed women who were tortured and forced to abort female foetuses but didn’t quite name the guilty, but we know who they are. The friends, families, colleagues and neighbors of the women on the show all know who they are — and I wouldn’t want to be in the shoes of the guilty. The same is true of the government authorities and the doctors who are highlighted in this case.
In the future, the ‘named and shamed’ could be builders, contractors, architects, vendors, development authorities… The possibilities are endless.
The concept of Satyamev Jayate is as far away as it can be from the satellite television fare we are generally used to. It’s forcing us to look at real issues and problems, not in the superficial way that entertainment TV has done in the past decade, but in a more involved manner.
Anna Hazare tried the same, with corruption as a focus. He successfully highlighted the issue, but was undone by in-your-face news media, over which he had no control. That’s why Aamir Khan is brilliant; getting non-fiction content on STAR Plus protects him from the harsh glare of news media and the attendant dangers.
There’s no doubt the show works .It’s bigger than I first thought. It’s Anna Hazare, Medha Patkar and Sunita Narain rolled into one — except this creature has brains. Lots of brains.
What makes the show interesting is that there will be an element of ‘naming and shaming’. Each episode, while focusing on victims will name the wrongdoers – even if we do not see or hear them.
Today, the show focused on female foeticide and its impact. It showed women who were tortured and forced to abort female foetuses but didn’t quite name the guilty, but we know who they are. The friends, families, colleagues and neighbors of the women on the show all know who they are — and I wouldn’t want to be in the shoes of the guilty. The same is true of the government authorities and the doctors who are highlighted in this case.
In the future, the ‘named and shamed’ could be builders, contractors, architects, vendors, development authorities… The possibilities are endless.
The concept of Satyamev Jayate is as far away as it can be from the satellite television fare we are generally used to. It’s forcing us to look at real issues and problems, not in the superficial way that entertainment TV has done in the past decade, but in a more involved manner.
Anna Hazare tried the same, with corruption as a focus. He successfully highlighted the issue, but was undone by in-your-face news media, over which he had no control. That’s why Aamir Khan is brilliant; getting non-fiction content on STAR Plus protects him from the harsh glare of news media and the attendant dangers.
There’s no doubt the show works .It’s bigger than I first thought. It’s Anna Hazare, Medha Patkar and Sunita Narain rolled into one — except this creature has brains. Lots of brains.
More graduates have to work for free according to a recent survey.
Confronting the worst job market in decades, many college graduates who expected to land paid jobs are turning to unpaid internships to try to get a foot in an employer’s door.
While unpaid postcollege internships have long existed in the film and nonprofit worlds, they have recently spread to fashion houses, book and magazine publishers, marketing companies, public relations firms, art galleries, talent agencies — even to some law firms.
Although many internships provide valuable experience, some unpaid interns complain that they do menial work and learn little, raising questions about whether these positions violate federal rules governing such programs.
Yet interns say they often have no good alternatives. As Friday’s jobs report showed, job growth is weak, and the unemployment rate for 20- to 24-year-olds was 13.2 percent in April.
Melissa Reyes, who graduated from Marist College with a degree in fashion merchandising last May, applied for a dozen jobs to no avail. She was thrilled, however, to land an internship with the Diane von Furstenberg fashion house in Manhattan. “They talked about what an excellent, educational internship program this would be,” she said.
But Ms. Reyes soon soured on the experience. She often worked 9 a.m. to 9 p.m., five days a week. “They had me running out to buy them lunch,” she said. “They had me cleaning out the closets, emptying out the past season’s items.”
Ms. Reyes finally quit when her boss demanded that she also work both days of a weekend. She now works part time as a model. Asked about her complaints, the fashion firm said, “We are very proud of our internship program, and we take all concerns of this kind very seriously.”
The Labor Department says that if employers do not want to pay their interns, the internships must resemble vocational education, the interns must work under close supervision, their work cannot be used as a substitute for regular employees and their work cannot be of immediate benefit to the employer.
But in practice, there is little to stop employers from exploiting interns. The Labor Department rarely cracks down on offenders, saying that it has limited resources and that unpaid interns are loath to file complaints for fear of jeopardizing any future job search.
No one keeps statistics on the number of college graduates taking unpaid internships, but there is widespread agreement that the number has significantly increased, not least because the jobless rate for college graduates age 24 and under has risen to 9.4 percent, the highest level since the government began keeping records in 1985. (Employment experts estimate that undergraduates work in more than one million internships a year, with Intern Bridge, a research firm, finding almost half unpaid.)
“A few years ago you hardly heard about college graduates taking unpaid internships,” said Ross Eisenbrey, a vice president at the Economic Policy Institute who has done several studies on interns. “But now I’ve even heard of people taking unpaid internships after graduating from Ivy League schools.”
Matt Gioe had little luck breaking into the music and entertainment industry after graduating with a philosophy degree from Bucknell last year. To get hands-on experience, he took an unpaid position with a Manhattan talent agency that booked musical acts. He said he answered phones and looked up venues. Although he was sometimes told to make bookings, he said he received virtually no guidance on how to strike a deal or how much to charge. But the boss did sometimes ask him to run errands like buying groceries.
“It was basically three wasted months,” he said.
Mr. Eisenbrey said many companies were taking advantage of the weak labor market to use unpaid interns to handle chores like photocopying or running errands once done by regular employees, which can raise sticky legal questions.
Eric Glatt, who at age 40 interned for the movie “Black Swan,” is one of the few interns with the courage to sue for wages over the work he did.
With an M.B.A. and a master’s in international management, Mr. Glatt wanted to get into film after a previous job overseeing training programs at the American International Group, the big insurance and financial services company. For “Black Swan,” he prepared documents for purchase orders and petty cash, traveled to the set to obtain signatures on documents and tracked employees’ personnel data.
“I knew that this was going to be a normal job and I wasn’t going to be paid for it,” he said. “But it started kicking around in my mind how unjust this was. It’s just become part of this unregulated labor market.”
Mr. Glatt filed suit, accusing Fox Searchlight Pictures of minimum wage violations. The company says it fully complies with the law and provides interns with a valuable, real-world work experience.
“The purpose of filing this case was to help end this practice,” said Mr. Glatt, who now plans to go to law school. “That was more important than my working on the next blockbuster.”
Ross Perlin, author of the 2011 book “Intern Nation,” said postcollege internships used to be confined to a few fields like film but have become far more common. “The people in charge in many industries were once interns and they’ve come of age, and to them unpaid internships are completely normal and they think of having interns in every way, shape and form,” he said.
Some interns say their experiences were quite helpful. Emily Miethner, a fine arts major at Hofstra, took an unpaid position at Gawker after graduating in 2010, doing research and social media for the news and gossip site. After two months, she moved to an unpaid internship at Flavorpill, an online cultural guide.
The knowledge she gained at those places, she said, was crucial to her landing a $35,000-a-year job as social media coordinator at Sterling Publishing. “More than just the individual tasks that I did, it was being in a great company culture and meeting a lot of people,” she said, noting that she was able to work without pay partly because she stayed at the home of her boyfriend’s parents.
Xuedan Wang, known as Diana, did not have such a positive experience. Ms. Wang, who graduated from Ohio State in 2010, interned at Harper’s Bazaar, working 9 a.m. to 8 p.m. overseeing eight other unpaid interns who ran around Manhattan picking up items from various fashion houses and showrooms.
She sued the fashion magazine in February, accusing it of minimum wage violations.
“Harper’s Bazaar was my favorite magazine growing up. I was dazzled that I was going to be working there,” she said. “But it was real grunt work, lugging things around.”
Hearst Magazines, which owns Harper’s Bazaar, said its internship programs enhanced students’ educational experience and fully complied with the law.
Some people end up on an internship treadmill. Joyce Lee, who received a film degree from Wesleyan in 2010, moved to Los Angeles and did six unpaid internships, including one for Scott Rudin, a top Hollywood and Broadway producer.
Her duties included reading scripts and picking up the mail. To pay her rent, she worked at a coffee shop and handed out fliers for a taxi company.
“Scott Rudin is made of money,” she said. “I don’t think it would be so hard for him to pay five interns the minimum wage.”
A spokesman for Mr. Rudin said he could not be reached for comment.
Ms. Lee, who is now in New York making her own film and supporting herself by again working at a coffee shop, said interns deserved better.
“If I ever become a famous filmmaker,” she said, “I promise I will pay my interns.”
( Source: The NewYork Times )
Confronting the worst job market in decades, many college graduates who expected to land paid jobs are turning to unpaid internships to try to get a foot in an employer’s door.
While unpaid postcollege internships have long existed in the film and nonprofit worlds, they have recently spread to fashion houses, book and magazine publishers, marketing companies, public relations firms, art galleries, talent agencies — even to some law firms.
Although many internships provide valuable experience, some unpaid interns complain that they do menial work and learn little, raising questions about whether these positions violate federal rules governing such programs.
Yet interns say they often have no good alternatives. As Friday’s jobs report showed, job growth is weak, and the unemployment rate for 20- to 24-year-olds was 13.2 percent in April.
Melissa Reyes, who graduated from Marist College with a degree in fashion merchandising last May, applied for a dozen jobs to no avail. She was thrilled, however, to land an internship with the Diane von Furstenberg fashion house in Manhattan. “They talked about what an excellent, educational internship program this would be,” she said.
But Ms. Reyes soon soured on the experience. She often worked 9 a.m. to 9 p.m., five days a week. “They had me running out to buy them lunch,” she said. “They had me cleaning out the closets, emptying out the past season’s items.”
Ms. Reyes finally quit when her boss demanded that she also work both days of a weekend. She now works part time as a model. Asked about her complaints, the fashion firm said, “We are very proud of our internship program, and we take all concerns of this kind very seriously.”
The Labor Department says that if employers do not want to pay their interns, the internships must resemble vocational education, the interns must work under close supervision, their work cannot be used as a substitute for regular employees and their work cannot be of immediate benefit to the employer.
But in practice, there is little to stop employers from exploiting interns. The Labor Department rarely cracks down on offenders, saying that it has limited resources and that unpaid interns are loath to file complaints for fear of jeopardizing any future job search.
No one keeps statistics on the number of college graduates taking unpaid internships, but there is widespread agreement that the number has significantly increased, not least because the jobless rate for college graduates age 24 and under has risen to 9.4 percent, the highest level since the government began keeping records in 1985. (Employment experts estimate that undergraduates work in more than one million internships a year, with Intern Bridge, a research firm, finding almost half unpaid.)
“A few years ago you hardly heard about college graduates taking unpaid internships,” said Ross Eisenbrey, a vice president at the Economic Policy Institute who has done several studies on interns. “But now I’ve even heard of people taking unpaid internships after graduating from Ivy League schools.”
Matt Gioe had little luck breaking into the music and entertainment industry after graduating with a philosophy degree from Bucknell last year. To get hands-on experience, he took an unpaid position with a Manhattan talent agency that booked musical acts. He said he answered phones and looked up venues. Although he was sometimes told to make bookings, he said he received virtually no guidance on how to strike a deal or how much to charge. But the boss did sometimes ask him to run errands like buying groceries.
“It was basically three wasted months,” he said.
Mr. Eisenbrey said many companies were taking advantage of the weak labor market to use unpaid interns to handle chores like photocopying or running errands once done by regular employees, which can raise sticky legal questions.
Eric Glatt, who at age 40 interned for the movie “Black Swan,” is one of the few interns with the courage to sue for wages over the work he did.
With an M.B.A. and a master’s in international management, Mr. Glatt wanted to get into film after a previous job overseeing training programs at the American International Group, the big insurance and financial services company. For “Black Swan,” he prepared documents for purchase orders and petty cash, traveled to the set to obtain signatures on documents and tracked employees’ personnel data.
“I knew that this was going to be a normal job and I wasn’t going to be paid for it,” he said. “But it started kicking around in my mind how unjust this was. It’s just become part of this unregulated labor market.”
Mr. Glatt filed suit, accusing Fox Searchlight Pictures of minimum wage violations. The company says it fully complies with the law and provides interns with a valuable, real-world work experience.
“The purpose of filing this case was to help end this practice,” said Mr. Glatt, who now plans to go to law school. “That was more important than my working on the next blockbuster.”
Ross Perlin, author of the 2011 book “Intern Nation,” said postcollege internships used to be confined to a few fields like film but have become far more common. “The people in charge in many industries were once interns and they’ve come of age, and to them unpaid internships are completely normal and they think of having interns in every way, shape and form,” he said.
Some interns say their experiences were quite helpful. Emily Miethner, a fine arts major at Hofstra, took an unpaid position at Gawker after graduating in 2010, doing research and social media for the news and gossip site. After two months, she moved to an unpaid internship at Flavorpill, an online cultural guide.
The knowledge she gained at those places, she said, was crucial to her landing a $35,000-a-year job as social media coordinator at Sterling Publishing. “More than just the individual tasks that I did, it was being in a great company culture and meeting a lot of people,” she said, noting that she was able to work without pay partly because she stayed at the home of her boyfriend’s parents.
Xuedan Wang, known as Diana, did not have such a positive experience. Ms. Wang, who graduated from Ohio State in 2010, interned at Harper’s Bazaar, working 9 a.m. to 8 p.m. overseeing eight other unpaid interns who ran around Manhattan picking up items from various fashion houses and showrooms.
She sued the fashion magazine in February, accusing it of minimum wage violations.
“Harper’s Bazaar was my favorite magazine growing up. I was dazzled that I was going to be working there,” she said. “But it was real grunt work, lugging things around.”
Hearst Magazines, which owns Harper’s Bazaar, said its internship programs enhanced students’ educational experience and fully complied with the law.
Some people end up on an internship treadmill. Joyce Lee, who received a film degree from Wesleyan in 2010, moved to Los Angeles and did six unpaid internships, including one for Scott Rudin, a top Hollywood and Broadway producer.
Her duties included reading scripts and picking up the mail. To pay her rent, she worked at a coffee shop and handed out fliers for a taxi company.
“Scott Rudin is made of money,” she said. “I don’t think it would be so hard for him to pay five interns the minimum wage.”
A spokesman for Mr. Rudin said he could not be reached for comment.
Ms. Lee, who is now in New York making her own film and supporting herself by again working at a coffee shop, said interns deserved better.
“If I ever become a famous filmmaker,” she said, “I promise I will pay my interns.”
( Source: The NewYork Times )
As we have seen a worst weekly decline in the stock markets this week. Markets are on the edge of break off on the lower side and see a significant downside. Factors that might weigh in
1) Greece Election Outcome
2) France Elections and its relation with Germany
3) Global markets' negative sentiments as US markets were only holding up its gain and started loosing it now.
4) Steep Decline in Oil Prices due to loss of confidence in economic recovery
5) "Sell in May" sentiment effect
Don't try to play markets on a long side and it is advisable to sell on rallies. Also see how to trade Nifty next week here
1) Greece Election Outcome
2) France Elections and its relation with Germany
3) Global markets' negative sentiments as US markets were only holding up its gain and started loosing it now.
4) Steep Decline in Oil Prices due to loss of confidence in economic recovery
5) "Sell in May" sentiment effect
Don't try to play markets on a long side and it is advisable to sell on rallies. Also see how to trade Nifty next week here
S&P CNX Nifty (5,086.85): As anticipated last week, the Nifty index made a decisive move which effectively puts an end to the listless activity witnessed in the past few weeks. Friday’s fall below the prior swing low at 5,135 is a sign of weakness.
The index could now slide to the next support in the 4,850-4,900 range. The bearish view would be in force until the index closes above the positive trigger level of 5,390.
The index could now slide to the next support in the 4,850-4,900 range. The bearish view would be in force until the index closes above the positive trigger level of 5,390.
The deterioration in the technical structure of quite a few index heavyweights, the ones from the banking universe in particular, is a cause of concern. Stocks from the two-wheeler sector too have displayed a penchant for seeking lower levels.
Given this backdrop, investors may avoid fresh equity exposures while those already invested may buy some protection via the options route.
CNX Bank Index (9,802.35): The crack in this index played a key role in pulling down the Nifty on Friday (4 May). The short-term outlook remains bearish and a test of the immediate support at 9,250 appears likely.
Any signs of recovery may be used to take short positions in the index, with a stop-loss at 10,600. Fresh investment in banking stocks may be avoided while those having significant exposure to the sector may consider put options as a risk control measure.
Given this backdrop, investors may avoid fresh equity exposures while those already invested may buy some protection via the options route.
CNX Bank Index (9,802.35): The crack in this index played a key role in pulling down the Nifty on Friday (4 May). The short-term outlook remains bearish and a test of the immediate support at 9,250 appears likely.
Any signs of recovery may be used to take short positions in the index, with a stop-loss at 10,600. Fresh investment in banking stocks may be avoided while those having significant exposure to the sector may consider put options as a risk control measure.
Power Finance Corporation (Rs 154.75): The stock has been in a downtrend since it touched a high of Rs 223.80 on 17 February. The recent chart patterns indicate the bearish trend could continue and the stock could test the immediate support at Rs 132.
Short positions may be considered with a stop-loss at Rs 174, for a target of Rs 132. The downtrend would gain momentum on a fall below Rs 132 and the stock could test the major support at Rs 120.
Axis Bank (Rs 1,009.85): After hitting a high of Rs 1,309 on 21 February, the stock has been in a downtrend, marked by a sequence of lower highs and lower lows. The recent price action suggests that the stock could fall to the short-term support at Rs 900.
The bearish view would be invalidated on a close above Rs 1,140. Short positions may be considered on a rally, with a stop-loss at Rs .1,150 for a target of Rs 900.
Short positions may be considered with a stop-loss at Rs 174, for a target of Rs 132. The downtrend would gain momentum on a fall below Rs 132 and the stock could test the major support at Rs 120.
Axis Bank (Rs 1,009.85): After hitting a high of Rs 1,309 on 21 February, the stock has been in a downtrend, marked by a sequence of lower highs and lower lows. The recent price action suggests that the stock could fall to the short-term support at Rs 900.
The bearish view would be invalidated on a close above Rs 1,140. Short positions may be considered on a rally, with a stop-loss at Rs .1,150 for a target of Rs 900.
The current economic turmoil in US and European nations have led to a sharp fall in property prices there making them extremely lucrative for non-resident Indians as well as resident Indians to invest in. More and more Indians are opting for offshore properties as a second home in exotic locations. However the process of purchasing a property in foreign countries has its own share of complexities, which need to be addressed before committing the money. Properties owned by banks as a result of fore closure or as non performing assets are the most sought after while there are a few places, which advertise their real estate as means of secure investments for foreigners.
Where to Look for?
Indians are increasingly acquiring properties across the globe but the leading destinations for offshore properties remain London, New York, Singapore and Dubai. Exotic holiday destinations such as Thailand, Malaysia, Southern France, Florida and Mauritius are also gaining rapid popularity among those looking to invest abroad in real estate. London is popular due to its assured returns over a long horizon while resort locales are being used as a second home for the rich and famous. The sea side resort of Pattaya is offering three bed room independent houses at prices as less as 60 to 70 lakhs which are pretty competitive compared to such houses in Tier 1 cities of India. The places in US are preferred by Indians who have either studied there or have worked for some time. Despite the high prices of real estate in Dubai, it is still popular due to its proximity to India and the presence of large Indian diasporas in the city.
Legal Precautions before Investing
Before even thinking of buying a property offshore one needs to be absolutely clear regarding property laws in India and other countries. Indians are permitted to buy property in foreign nations by making an annual remittance of up to $ 2000000 in a financial year. The Foreign Exchange Management Act also permits Indians to acquire property abroad as gifts or through inheritance. Additionally resident Indians can own property elsewhere in case it was acquired while they were not residents of India. However one must consult trusted legal experts in country where they want to buy the property in regarding local taxation policies, citizenship laws and ownerships provisions. Many nations mandate foreigners to pay a huge property transaction fees while making the purchase. Extra stamp duty costs are often levied on foreigners acquiring property in certain countries which may add up to the total cost significantly.
Practical Considerations when Buying Property Offshore
Here are a few practical guidelines that will come handy while setting out to buy yourself a house in some exotic location abroad or a simple investment in foreign countries.
- Make sufficient number of visits to that place during different parts of the year to get a broad overview of the locale.
- Remember there is adequate scope of bargaining at all places around the world and do not swayed by the quoted price.
- Get a consolidated list of all transaction charges, stamp duties and associated fees for buying the property beforehand.
- Always negotiate through a reputed property brokerage firm of that country.
- Additionally hire an independent legal advisor to give detailed inputs.
- Time your purchase when the exchange rates of that country's currency are in your favor.
- Understand the legal implications of your purchase and rules that govern your access to that country.
Owning a grand property in foreign nations is no more the domain of the extremely rich anymore. However there is a definite need for detailed analysis and planned approach in order to get a good deal and avoid legal complications subsequently.
Where to Look for?
Indians are increasingly acquiring properties across the globe but the leading destinations for offshore properties remain London, New York, Singapore and Dubai. Exotic holiday destinations such as Thailand, Malaysia, Southern France, Florida and Mauritius are also gaining rapid popularity among those looking to invest abroad in real estate. London is popular due to its assured returns over a long horizon while resort locales are being used as a second home for the rich and famous. The sea side resort of Pattaya is offering three bed room independent houses at prices as less as 60 to 70 lakhs which are pretty competitive compared to such houses in Tier 1 cities of India. The places in US are preferred by Indians who have either studied there or have worked for some time. Despite the high prices of real estate in Dubai, it is still popular due to its proximity to India and the presence of large Indian diasporas in the city.
Legal Precautions before Investing
Before even thinking of buying a property offshore one needs to be absolutely clear regarding property laws in India and other countries. Indians are permitted to buy property in foreign nations by making an annual remittance of up to $ 2000000 in a financial year. The Foreign Exchange Management Act also permits Indians to acquire property abroad as gifts or through inheritance. Additionally resident Indians can own property elsewhere in case it was acquired while they were not residents of India. However one must consult trusted legal experts in country where they want to buy the property in regarding local taxation policies, citizenship laws and ownerships provisions. Many nations mandate foreigners to pay a huge property transaction fees while making the purchase. Extra stamp duty costs are often levied on foreigners acquiring property in certain countries which may add up to the total cost significantly.
Practical Considerations when Buying Property Offshore
Here are a few practical guidelines that will come handy while setting out to buy yourself a house in some exotic location abroad or a simple investment in foreign countries.
- Make sufficient number of visits to that place during different parts of the year to get a broad overview of the locale.
- Remember there is adequate scope of bargaining at all places around the world and do not swayed by the quoted price.
- Get a consolidated list of all transaction charges, stamp duties and associated fees for buying the property beforehand.
- Always negotiate through a reputed property brokerage firm of that country.
- Additionally hire an independent legal advisor to give detailed inputs.
- Time your purchase when the exchange rates of that country's currency are in your favor.
- Understand the legal implications of your purchase and rules that govern your access to that country.
Owning a grand property in foreign nations is no more the domain of the extremely rich anymore. However there is a definite need for detailed analysis and planned approach in order to get a good deal and avoid legal complications subsequently.
