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Nadella effect: Microsoft surpasses Exxon, becomes world's second most valuable company

November 15, 2014

Nadella effectSan Francisco, Nov 15: The bull run in Microsoft's stock this past year has helped the tech giant surpass Exxon Mobil and seize the rank of the second most valuable company, behind Apple Inc.

Under new CEO Satya Nadella, Microsoft has worked to overcome its reputation as a clumsy behemoth struggling to keep up with new tech trends and consumer habits. Nadella has cut expenses — and jobs — while pledging to refocus the company on mobile technology and cloud computing. His efforts have fueled a stock surge that drove Microsoft's total market value above $410 billion on Friday. That leapfrogged Exxon's value of $404 billion, which has been dinged by the drop in oil prices.

"Microsoft has made a strategic change,'' said Daniel Ives, a tech analyst at FBR Capital Markets. He said Nadella still faces challenges with a company that's heavily reliant on the declining personal computer market. But compared with other longtime tech stalwarts, such as IBM, Hewlett-Packard and Oracle, "Microsoft has done the best job of trying to skate where the puck is going,'' Ives said.

Apple is currently the world's most valuable company, with a market capitalization of more than $668 billion. That's more than the $616 billion that Microsoft was worth when it was No. 1 in December 1999. Microsoft shares fell sharply the next year.

But the Redmond, Washington company has earned greater cachet on Wall Street over the last 18 months. Its stock has risen nearly 70 percent since April 2013, when activist investment firm ValueAct Capital announced it had taken a $2 billion stake in the company and would scrutinize its strategy. Within a few months, longtime CEO Steve Ballmer announced plans to retire. The move was described as unrelated.

Since then, Nadella has announced new initiatives to expand in cloud computing, which promises to be more lucrative than the traditional model of selling software that is installed on clients' computers. Microsoft has also promised a redesign of its flagship Windows operating system and released versions of other popular software for smartphones and tablets, including devices made by competitor Apple.

Microsoft shares have outperformed the tech-heavy NASDAQ Composite Index, which gained about 45 percent in the same 18-month period. The stock hit $50.04 on Friday, its highest point since early 2000, before slipping to the $49.50 range in afternoon trading.

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News Network
February 2,2020

Mumbai, Feb 2: Kerala Chief Minister Pinarayi Vijayan on Sunday slammed the BJP-led central government on the Citizenship Amendment Act (CAA) and said that the new law only serves the objectives of the Sangh Parivar of turning India into a Hindu Rashtra.

He said that in order to achieve their objectives, the "communal elements" are trying to divide India's people through the same strategy as employed by the British colonisers in the past.

Lauding people in Mumbai for their protests against CAA, the National Register of Citizens (NRC) and the National Population Register (NPR), the Kerala chief minister also outlined three reasons for his government's decision to reject the Citizenship Amendment Act.

"Over the last several weeks, Mumbai citizens made clear their unyielding opposition to efforts made by Hindutva elements to tear apart the secular fabric of our society. I express solidarity with struggles being made across the city in defence of secularism and the Indian Constitution," Vijayan said at an event here.

The chief minister was addressing the 'Mumbai Collective' here on the topic of 'National struggle against communalism'.

"The government of Kerala is acting as per the Constitution. Like Kerala, other states are also looking at CAA as against the fundamentals of the Constitution. It (CAA) violates basic human rights and is divisive and deeply discriminatory," CM Vijayan said, adding that the new citizenship law only furthers the Sangh Parivar's objective of creating a Hindu Rashtra.

He said the CAA needs to be rejected for three basic reasons.

"First, it is against the letter and spirit of our Constitution. Secondly, it is highly discriminatory and violative of human rights. Thirdly, it seeks to impose philosophy of Sangh Parivar with its mission of Hindu Rashtra," the chief minister said.

Vijayan also participated in the human chain organised by Left Democratic Front (LDF) against CAA and NRC and said that "the law is a threat to the secularism of this country".

The newly enacted law is facing stiff opposition across the country with several non-NDA states including Kerala, West Bengal, Rajasthan and Punjab refusing to implement it.

Rajasthan, Kerala and Punjab have passed resolutions against the recently amended law in their respective state Assemblies.

The CAA grants citizenship to Hindus, Sikhs, Jains, Parsis, Buddhists and Christians fleeing religious persecution from Pakistan, Afghanistan and Bangladesh and who came to India on or before December 31, 2014.

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Agencies
July 7,2020

Bhopal, Jul 7: Anil Mishra, personal assistant to BJP Rajya Sabha MP Jyotiraditya Scindia, has tested positive.

He has been accompanying Scindia throughout his tours post-corona infection.

His contact trail is longer than that of Scindia. He has been in touch with Chief Minister Shivraj Singh Chouhan.

Mishra was present during Scindia's meetings with the MLAs and the swearing in ceremony of the MP ministry on July 2.

BJP sources say there is concern over the possible list of people who will be put in isolation to check the spread of the virus.

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Agencies
July 28,2020

New Delhi, Jul 28: India on Wednesday reported 47,704 more COVID-19 cases in the last 24 hours, taking the country's count of coronavirus cases to 14,83,157, informed the Union Ministry of Health and Family Welfare.

Out of the total cases, there are 4,96,988 active cases in the country while the number of patients cured/discharged and migrated stands at 9,52,744.

With 654 deaths due to COVID-19 in the country reported in the last 24 hours, the death toll rises to 33,425.

The recovery rate among COVID-19 patients has increased to 64.23 per cent. The recoveries to deaths ratio is 96.6 per cent:3.4 per cent, informed the Centre.

As per the data provided by the Ministry, Maharashtra continues to be the worst-affected state from the infection with 1,48,905 active cases and 13,656 deaths due to COVID-19. Tamil Nadu has a total of 53,703 active cases and 3,494 deaths.

Delhi has a total of 11,904 active cases and 3,827 deaths.

The Health Ministry further informed that more than 5 lakh COVID-19 tests were conducted in a single day over two consecutive days. On 26th July, India tested a total of 5,15,000 samples and on 27th July, a total of 5,28,000 samples were tested.

The total number of COVID-19 samples tested up to July 27 is 1,73,34,885 including 5,28,082 samples tested yesterday, said the Indian Council of Medical Research (ICMR).

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