Apple - Samsung patent case

Apple Inc won over Samsung as a US jury found the Korean company had copied critical features of the popular iPhone and iPad and awarded the US company $1.049 billion in damages. This could lead to an outright ban on sales of key Samsung products which will benefit Apple product sales in US.  This decision firmed the position of Apple at the top of the list of highest ever market value company in the history of the world. The interesting fact is that even when the companies are rivals they  have a $5 billion-plus supply relationship in which Apple buys microprocessors and other parts central to Apple’s devices which makes Apple the biggest customer of Samsung.
According to experts this ruling will affect Google's Android platform the most. Now manufacturers will not be happy to go with Android as they will have to face risk of patent issue. Time only will tell about this...

For Basel III banks need Rs 1.75 lakh cr recapitalisation

Indian banking system need Rs 1.75 lakh crore recapitalisation for meeting Basel III norms, but according to RBI it is manageable though challenging. This view is from the recently released annual report for FY12. Out of this, 1.50  lakh crore is for public sector banks which control almost 70% of total operations while private sector banks will need Rs. 25,000 cr. Basel-III norms were formulated after the 2008 credit crisis and aimed to reduce the risk of financial collapse.  Indian banks will start to prepare to meet these norms from March 2013 and will achieve the target by March 2018.

India Under-19 Cricket team crowned 2012 world cup

India beat Australia to lift their third Under-19 Cricket world cup. Earlier India won the world cup in 2000 and 2008 under the leadership of Mohammed Kaif and Virat Kohli respectively. Unmukt Chand's unbeaten 111 helped India in passing 225 for 8 set by Australia with six wickets in hand.