Tesla’s Musk admits Model 3 braking issue, promises fix

Tesla Inc Chief Executive Officer Elon Musk has sought to play down a report identifying “big flaws” in its Model 3 sedan, admitting there is a braking issue with the vehicle but saying it will be fixed with a software update within days.

Responding to a review by influential US magazine Consumer Reports, which stopped short of recommending the car, Musk said in a round of tweets late on Monday that the magazine’s tests – which used two separately-sourced vehicles – had been of older versions of the car that had already been improved upon.

India is the growth story: Karen Davidson

For Karen Davidson (in pic), the great-granddaughter of William A Davidson, one of the co-founders of the iconic motorcycle brand Harley-Davidson, India is an extremely important market for Harley-Davidson MotorClothes, the premium branded line of apparel and accessories. Karen, who took to biking at the age of nine and subsequently went on to get trained in designing, is the creative director of the Harley-Davidson’s General Merchandise line.

Silicon Valley gets a reality transfusion

Silicon Valley is driven by economic power, and the ability to transmute hard science into fortunes. But its real fuel is stories, and the quintessential American desire to believe. Apple founder Steve Jobs showed that quixotic sounding ideas sometimes become reality thanks to capital, effort and acquired knowledge. Theranos founder Elizabeth Holmes, meanwhile, showed sometimes they don’t.

Socialism sans trappings okay

Indian dichotomy is evident on socialism. According to a global survey by Ipsos, majority of Indians endorse ideals of socialism and its benefits (free education, healthcare and basic income), without its trappings in personal freedom, political oppression and protectionism in markets.

Seventy two per cent Indians believe socialist ideals are of considerable value for societal progress.

Apple-Samsung iPhone design copying case goes to jury

Jurors return to a Silicon Valley courtroom Monday to put a price on patented iPhone design features copied by Samsung in a legal case dating back seven years. Apple is seeking slightly more than a billion dollars in damages, while Samsung wants a figure closer to $28 million.

The jury has been asked to determine whether design features at issue in the case are worth all profit made from Samsung smartphones that copied them or whether those features are worth just a fraction because they are components.

US woos Indian investments

Precisely at the same time when the Narendra Modi government is reportedly dragging the US to the dispute settlement mechanism of the World Trade Organisation (WTO) over the vexed issue of imposition of import duties on steel and aluminium, the Trump administration is wooing as many Indian businessmen and industrialists as possible to attend the 2018 SelectUSA Investment Summit, to be held between June 20 and 22 at the Gaylord National Resort and Convention Centre near Washington DC.

To counter Walmart, Amazon goes where no retailer has gone

Abdul Gafur Khatri lives on the fringe of gr­e­at salt ma­rshes in far western Ind­ia. He doesn’t own a smartp­hone. He’s never surfed the web. Still, the 53-year-old th­i­nks the internet may be his last ho­pe of reviving a fa­ding art ca­lled Rogan th­at’s been pa­ssed down thro­u­gh 8 generations of his family. “If I can sell online, dem­a­nd will go up,” says the artisan, one of the last living cu­stodians of a sk­ill that uses gummy, co­lou­red pastes to paint intricate motifs on cloth.

House panel to quiz RBI governor on frauds today

Urjit Patel, Reserve Bank of India (RBI) go­v­ernor, will inform the parliamentary standing committee on finance on Thursday about the steps taken by the central bank as regulator and supervisor of the banking sector to check increasing number of frauds and rising non-performing assets (NPAs) in the sector.

During the appearance before the House panel, the governor is expected to respond to queries from members of Parliament on recent bank frauds, including the Nirav Modi case, and mounting NPAs, sou­rces said.

Infy sets up blockchain trade network in India with seven banks

Infosys has set up India Trade Connect, a bloc­kc­ha­in-based trade network in India, in partnership with seven lenders, including Axis Bank, ICICI Bank, Indus­Ind Bank and RBL Bank. The other partner banks include Kotak Mahindra Ba­nk, South Indian Bank and Yes Bank.

“The network is being us­ed by the banks to run a successful pilot of Finacle Trade Connect, a blockchain technology based solution developed specifically to address the trade finance process requirements of banks,” Infosys said in a statement.