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The Hindu
6 minutes ago
- The Hindu
From The Hindu, August 7, 1925: Spinning and weaving mills still remain closed
The Anglo-French Textile Mill Co. Ltd., which suspended operations on the 11th of July and the Pondicherry cotton mills which closed its doors on the 1st of July still continue to remain closed. As per notice put up at the gates of the Anglo-French Textile Mills the labourers were paid their fortnightly wages at the rate of Rs. 10 per month. Whether the authorities will continue to do the same after the 11th instant or not remains yet to be seen.
News18
17 minutes ago
- News18
Trump, Cook to announce Apple is investing another USD 100 billion in US
Agency: PTI Washington, Aug 6 (AP) Apple CEO Tim Cook is expected to join President Donald Trump at the White House on Wednesday to announce a commitment by the tech company to increase its investment in US manufacturing by an additional USD 100 billion over the next four years. As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the United States as part of an initiative called the American Manufacturing Programme, but it is not a full commitment to build its popular iPhone device domestically. 'This includes new and expanded work with 10 companies across America. They produce components — semiconductor chips included — that are used in Apple products sold all over the world, and we're grateful to the President for his support," Cook said in a statement announcing the investment. The new manufacturing partners include Corning, Coherent, Applied Materials, Texas Instruments and Broadcom among others. Apple had previously said it intended to invest USD 500 billion domestically, a figure it will now increase to USD 600 billion. Trump in recent months has criticised the tech company and Cook for efforts to shift iPhone production to India to avoid the tariffs his Republican administration had planned for China. While in Qatar earlier this year, Trump said there was 'a little problem" with the Cupertino, California, company and recalled a conversation with Cook in which he said he told the CEO, 'I do not want you building in India." India has incurred Trump's wrath, as the president signed an order on Wednesday to put an additional 25 per cent tariff on the world's most populous country for its use of Russian oil. The new import taxes to be imposed in 21 days could put the combined tariffs on Indian goods at 50 per cent. Apple's new pledge comes just a few weeks after it forged a USD 500 million deal with MP Materials, which runs the only rare earths producer in the country. That agreement will enable MP Materials to expand a factory in Texas to use recycled materials to produce magnets that make iPhones vibrate. Speaking on a recent investors call, Cook emphasised that 'there is a load of different things done in the United States". As examples, he cited some of the iPhone components made in the US such as the device's glass display and module for identifying people's faces and then indicated the company was gearing to expand its productions of other components in its home country. 'We are doing more in this country, and that is on top of having roughly 19 billion chips coming out of the US now, and we will do more," Cook told analysts last week, without elaborating. News of Apple's latest investment in the US caused the company's stock price to surge by nearly 6 per cent in Wednesday's midday trading. That gains reflect investors' relief that Cook 'is extending an olive branch" to the Trump administration, said Nancy Tengler, CEO of money manager Laffer Tengler Investments, which owns Apple stock. Despite Wednesday's upturn, Apple's shares are still down by 14 per cent this year, a reversal of fortune that has also been driven by the company's botched start in the pivotal field of artificial intelligence. (AP) RC view comments First Published: August 07, 2025, 02:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
21 minutes ago
- Time of India
New bar policy gets AP cabinet nod, allotment through draw of lots
Vijayawada: Andhra Pradesh cabinet on Wednesday approved the new bar policy for three years (2025-28). The govt has fixed the licence fee by dividing the bars into three categories based on the population of the area. Like in retail liquor outlets, the govt has reserved 10% of bar licences for toddy tapers at 50% of the licence fee. The allotment of licence would be done through draw of lots. Anyone can apply for a bar licence by paying the application fee. A minimum of four applications is required for conducting the lottery for a particular area. Announcing the decision, I&PR minister Kolusu Pardasarathi said the new policy was finalised after studying bar policies in neighbouring states. Pardasarathi observed that more than 50% of bars are struggling to stay afloat in the existing policy, which prompted the govt to introduce the new policy. "The 840 existing licences will be renewed according to the new policy. Business hours for the bars have been fixed from 10 am to 11 pm. The existing bar policy will expire on Aug 31, and the new policy will come into effect from Sep 1. The application process and allotment of licences will be completed before Aug 31," he said. The minister further noted that during the YSRCP regime, there was huge difference between the bid prices, leading to cartelisation. "Allotment of licences will be done through a transparent process as the licence fee is fixed for the bars in all three categories," he added. While the licence fee for bars in cities up to 50,000 population has been fixed at Rs 35 lakh per annum, Rs 50 lakh will be charged for bars in cities with population between 50,000 and 5 lakh. The annual licence fee for bars located in cities with more than 5 lakh population has been fixed at Rs 75 lakh. The fee to apply for the bar licence will be Rs 5 lakh. Unlike in the existing system, licence fee can be paid in six equal instalments and submission of bank guarantee equivalent to one instalment. The liquor off take price for bars is fixed on par with retail shops. The cabinet also approved the proposal of granting licences to permit rooms in retail outlets. The licence fee for the permit room has been fixed at Rs 5 lakh per annum. The decision was taken after 2.71 lakh cases of drinking in public places was reported in last one year. This is to ensure that no public inconvenience is caused and also to encourage responsible drinking," Pardasarathi said.
