Wilmington Trust Corp., the Delaware bank founded by the du Pont family and undermined by souring loans, agreed to sell itself to M&T Bank Corp. for $351 million in stock, or about half its market value last week.

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M&T Bank Corp. said it will buy the Wilmington bank, best known for its focus on wealthy individuals, for $3.84 per share. In mid-morning trade, shares of Wilmington Trust tumbled 43% but remained well above the acquisition price, at $4.04.

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The deal is a sign there will be further consolidation among U.S. banks, analysts said, as weaker players struggle amid higher regulatory costs and continued loan losses, while larger banks are better able to absorb regulatory costs and are starting to make new loans again.

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If Facebook and Microsoft can have their way they would soon be putting Google on its back-foot as the social networking site and the computer giants have joined hand to put the Microsoft’s Bing search part of the Facebook. This search experience would be different from that of one familiar with the Google search.

The new Bing Search: this new search system will enable the user to have a personalized search result, as the search result will mark the list of the friends of the user who have “liked” the result via Facebook and other sites that use the similar “like” tags. The search name would not only bring in the result but also under the Facebook category it will include the Facebook profile of the search result.

Reason for revamped Bing Search: Most might have thought that Microsoft has spearheaded this venture with Facebook, but it is actually the other way round. Mark Zuckerberg, the CEO of Facebook has made the tie up to stall the relentless attempts made by Google to get a better foothold on the social networking domain.

Till now Google has failed to make much of an impact and Facebook has taken away the market created by Orkut, so the search giants are now more than eager to get their footing back. Google’s senior user-experience designer Paul Adams has already made a presentation of the flaws that Facebook have and Google would now work on that to develop something which might hit the world within few months and even may be within weeks.

This has raised the concern bell of Zuckerberg, so he is trying to get as much force and partnership as possible to prevent this possible onslaught made by Google. The new Bing search will be in effect from Wednesday. (ENSNN)

Popularity: 3% [?]

Outbidding L&T under stiff International Competitive Bidding (ICB), Bharat Heavy Electricals Limited (BHEL) has bagged an order for the first 700 MW coal-fired thermal unit with supercritical parameters.

Valued at Rs.37,000 Million, the order has been placed on BHEL by Karnataka Power Corporation Limited (KPCL) for setting up the 700 MW Supercritical Unit-3 at Bellary Thermal Power Station (TPS) in Karnataka, on turnkey basis. With this, KPCL has reposed confidence in the technological excellence of BHEL as also its capability in executing power projects of this magnitude.

Bellary TPS is already equipped with a BHEL-built 500 MW thermal set (Unit-1) while Unit-2 also of 500 MW rating, is presently under execution by BHEL. With the present order, BHEL has maintained its track record of bagging most of the orders for power generating equipment in Karnataka. The company has commissioned about 5,000 MW of power generating sets in the state, which include thermal as well as hydro units of various ratings.

In Karnataka, BHEL is also executing the 2×800 MW Yeramarus supercritical TPS of Raichur Power Corporation Limited (RPCL), a Joint Venture between KPCL and BHEL, which has been set up to Build, Own and Operate supercritical thermal power plants in Karnataka.

BHEL is already executing major contracts for supply of main plant equipment with supercritical parameters for the 2×660 MW Barh Thermal Power Project Stage-II of NTPC and the 3×660 MW Bara Thermal Power Project of Prayagraj Power Generation Company Limited, a part of the Jaypee Group. In addition, BHEL is also executing a contract for supply of supercritical Steam Generators to APGenco’s 2×800 MW Krishnapatnam Thermal Power Project, which is in an advanced stage of completion.

BHEL has upgraded its technology base from sub-critical sets to supercritical sets of 660/800 MW and above. The company has ongoing collaboration agreements with Alstom, France and Siemens, Germany, with a technology transfer arrangement, which will enable the country to be self-reliant in the field of supercritical thermal power plants.

BHEL has established the capability to deliver 15,000 MW of power equipment per annum and further augmentation to 20,000 MW per annum is underway. In fiscal 2009-10, a record 74% of the total power generated in the country was contributed by BHEL sets, which comprise two-thirds of the country’s installed capacity.

Popularity: 2% [?]

In a significant development, GAIL (India) Limited today placed orders worth Rs. 677 crore for laying of pipelines for Dabhol- Bangalore Pipeline Project. GAIL Chairman and Managing Director, Shri B.C. Tripathi said, “The placement of construction contract marks a significant step towards execution of the pipeline project and is a testimony of GAIL’s commitment to bring gas supplies to Karnataka by 2012.”

With this, GAIL has within the last 3 months placed orders worth about Rs.2,000 crore for both line pipes and pipeline laying to enable swift project implementation. The construction work will start by November 2010 and the pipeline will be ready by March 2012. The commissioning activities would take further couple of months and the gas supplies are expected to begin by June 2012.

The 1400 km Dabhol - Bangalore pipeline project was approved by GAIL Board in June 2009 at an estimated cost of Rs. 5,000 crore with a capacity of 16 MMMSCMD of natural gas transmission. The project activities for this pipeline are in full swing. Applications for obtaining statutory permission for Railway, Highway, River crossings have been made.

The complete work of pipeline from Dabhol (Ratnagiri District, Maharashtra) to Bidadi (Ramnagar district, Karnataka) and two additional spur lines ( from Gokak in Belgaum District, Karnataka to Goa and from Sulivara in South Bangalore District, Karnataka to Bangalore) have been divided into ten spreads. Of the ten spreads, 7 spreads have been awarded to Punj Lloyd Limited, 2 spreads have been awarded to KSS-KSSIIPL Consortium and 1 spread has been awarded to Advance Stimul Consortium.

Popularity: 3% [?]

After the successful launch of seven mobile handsets in India Wynncom is now set to entice the consumers with India’s first Hindi QWERTY keypad phone-Y-45 which facilitates a tech savvy urban youth to chat in our National language.

Wynncom has come up with yet another product innovation; this time the company has devised a new idea to make texting in Hindi possible by introducing a Hindi Qwerty keypad phone. This makes it easier for a user to connect especially in the Tier II and Tier III towns where one can express oneself in Hindi without any language restrictions.
Y-45 also allows a consumer to send free SMS’s across India, UAE, Kuwait, Saudi Arabia, Singapore, Malaysia and Philippines instantly with an inbuilt soft key for 160by2 - Free Mobile Phone Applications provider(Free SMS service provider)

Amongst the other key features , Y 45 has a dual SIM (GSM+GSM) capacity with a 5.6 cm (2.2) 262 TFT colour screen, supports social networking sites like Opera Mini, Snaptu, Nimbuzz, Facebook, Twitter, MSN etc and also has a Geographic location finder – Saarthi, 1.3 MP camera, 1100 mAh Battery (long lasting battery - Talk time of 7 hours & Standby time of 250 Hrs), expandable memory up to 8 GB, Bluetooth with A2DP, E mail facility, PC Sync, Video recording and Playback.

On the occasion of the launch, Mr. Arvind Vohra, Co-Founder and Managing Director, Wynn Telecom Ltd said, “With our mission to offer something new and exciting to our consumers we have devised Y-45 a multimedia series mobile phone for those who are looking for Hindi keypad on a QWERTY phone at affordable price”.

In smaller cities where English language is a big hurdle for communicating your thoughts while texting a SMS, Y-45 will act as an apt medium for the people to express themselves in Hindi in a better way, Mr. Vohra further added.

This stylish, unique yet simple phone is available just at MOP Rs. 3395/- only.

Popularity: 1% [?]

Panasonic, the worldwide leader in technology and innovation, brings to India the entire spectrum of the latest 3D technology that affords the viewer to experience, as against mere watching, the film or broadcast. 3D technology reproduces on screen action as we see in real life, making the images more real and hence allowing for greater viewer engagement and enjoyment. 3D is considered the next technology evolution after color replaced black & white and high-definition came to 2D.

As part of its series, Dimensions, Panasonic has organized a two day conclave which includes experiential zone and live demonstration/presentations at Yash Raj Films Studios to have the film fraternity, including the students, gain first hand knowledge of 3D movie making, post production, exhibition and what the audience will experience. Speaking on the occasion, Mr Daizo Ito, President Panasonic India said, “Panasonic has been the harbinger of new technology for several decades now. With the Indian creativity getting applauded across the world, it becomes imperative for Panasonic to make available the latest movie making and broadcast technology in India.”

Added Mr Manish Sharma, Director Marketing, Panasonic India, “Given the increasing success of 3D internationally, we are happy to bring this technology to the movie-makers and broadcasters, and the audiences in India. We take pride in our association with the Indian film fraternity, and this latest technology innovation will serve to further strengthen the relationship.”’

Dimensions will travel across India and entail a 3D movie-making contest for students of leading film & television institutes all over India. Dimensions endeavours to free the imagination of film-makers and allow their creativity to be showcased in more compelling ways. Dimensions will culminate in November with a jury comprising eminent film-makers choosing the winners of the movie-making contest. Further said Dia Mirza, Panasonic Brand Ambassador for Eco Ideas, "I am supporting Panasonic to spread awareness on how technology can support the environmental cause. The 3D products are not only high on technology, but are eco friendly also."

Previously, if one were to shoot in 3D, with the entire attendant skills required in maintaining parallax, vertical gap and the like. With the Panasonic 3D camera recorder (Panasonic AG-3DA1), the entire complexity has been packaged into an easy to handle body that contains two lenses and automatic correction for horizontal and vertical displacement, and image convergence. It has been found that with a traditional 3D rig, one is able to shoot in a few locations in one day, while with the Panasonic 3D camera recorder, one could shoot at over 15 separate locations and covered 100 miles in the same amount of time.

As a result, the film production fraternity can now create a wide range of programs in 3D, including nature documentaries, live events, concerts or sports, to not only showcase their creativity in more fascinating ways but also allow viewers a choice of a wide variety of 3D programs.

Speaking at Dimensions Mr. Karan Johar, the noted filmmaker said, “I am so excited that the 3D technology is now available to film makers like myself. It will literally add a new dimension to our storey telling and creative expression. We all acknowledge the influence of this medium and with 3D captivating the audience so much more, there is going to be a new revolution in movie making. And am sure the next 3D blockbuster movie like Avatar is going to come from India.”

A number of viewers in India have experienced 3D, through ‘Avatar’ or ‘Clash of the Titans’. 3D movies are increasingly proving popular across the world, and some of the successes of Hollywood movies are an indication of the popularity: it is estimated that Avatar grossed US$ 2,740 million on a budget of US$ 300 million, Clash of the Titans US$ 492 million on a budget of US$ 125 million, Shark Tale US$ 492 million on a budget of US$ 125 million, Shrek 2US$ 916 million on a budget of US$ 70 million, to name a few.

Broadcasters are also conscious of this growing trend: ESPN, Discovery, Sony & IMAX in the US, British Sky Broadcasting in the UK, France Orange & France Canal Plus in France and Japan Sky Perfect & Japan BS 11 in Japan have announced or have begun broadcast of 3D programs. US Direc TV is broadcasting 3D programs and currently has a viewership of 11 million households in the US. For home viewing the global market for 3D TV is estimated at 3.8 million units currently, which will reach 13 million units in 2011 and 83 million units by 2014.

Added Mr. Manmohan Shetty, President, The Film & Television Producers Guild of India, “I am thankful and congratulate Panasonic on this initiative. Dimensions will serve to broaden the knowledge on 3D movie making of the entire film fraternity, including among the training institutes and the students.”

In its endeavour to create 3D solutions, “camera to couch”, Panasonic provides an entire 3D infrastructure that allows program creators to make the best 3D content, and consumers to see it on the best 3D displays. Panasonic systems are available for movie making and home viewing, and for everything in-between: Panasonic Integrated Twin-lens 3D Camera for recording; Blu-ray 3D authoring system; 3D compatible digital AV mixer and 3D LCD Video Monitor for editing; 3D Plasma Displays and projection systems for viewers; and 3D camcorder for home videos.

A 3D film is a motion picture which enhances the illusion of depth perception. A picture camera recorder to make 3D movie is designed with two lenses to shoot images as if the images are seen from two perspectives. Seen through 3D glasses, which have shutters that are timed to open and close alternately for each visual frame to separate left and right eye images, the “effect” of depth is interpreted by the brain just as we see objects around us, allowing the viewer to perceive reproduced images in 3D.

About Panasonic India

Panasonic internationally is a household name in technology innovation and has continually set standards in the electronics industry. Panasonic follows the principle that the main purpose of production is to manufacture in abundant quantity appliances of good quality for everyday use, thereby enhancing and improving the quality of life for everyone. Panasonic Corporation is headquartered in Osaka, Japan, and registered revenues of USD 79 billion in the last financial year. With 297 manufacturing facilities across the world, Panasonic is one of the largest electronic product manufacturers. Panasonic has been in India for close to 38 years, and is now in the process of consolidating its operations here. Panasonic makes available a wide range of audio-visual and home appliances like LCD & Plasma TVs, DVD Players, home theater systems, cameras, camcorders, car audio systems, airconditioners, washing machines, microwave ovens, automatic cookers, vacuum cleaners and the like. For more information on the company and the Panasonic brand in India, please visit http://panasonic.co.in.

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New Delhi, August 17th 2010- Wynncom mobiles is all set to offer its prospective consumers something attractive. Taking a cue from the trend of this generation, Wynncom decides to suit the requirement of the youth by entering into an exclusive agreement with a free SMS service application provider 160by2.com. This kind of product innovation which allows sending free SMS from mobile phone is happening for the first time ever in mobile handset industry.

Wynncom mobile phones will have a preinstalled mobile application developed by160by2.com, one of India’s largest free SMS service providers. This unique application enables mobile phone users to send free SMS to any mobile not only in India but also to UAE, Kuwait, Saudi Arabia, Singapore, Malaysia and Philippines.

Another feature provided by this application is that the user can access the phone book on the mobile to send messages. One can also save mobile phone contacts on 160by2.com as a memory back-up.

Speaking on the occasion Mr. Vivek Sachdev, General Manager Product Division, Wynn Telecom Ltd, said, ”Wynncom makes life simpler by cutting down the requirement  to browse the internet from your phone by introducing this unique feature of having a direct access to 160by2.com in just one click. This application in Wynncom mobiles bridges distances and helps stay connected and affordable.”

Messaging is one of the most used VAS services in India; Today SMS consumes a major portion of mobile bills and this facility will certainly help Wynncom mobile users to save a reasonable portion of their mobile bill Mr. Vivek Sachdev further added.

160by2 intends to extend its services shortly to rest of the Middle-East nations including Bahrain, Yemen, Qatar and Oman. With a large number of Indian expats residing in these nations, 160by2.com will be the perfect platform for their near and dear ones in India to stay connected.

Commenting on the tie-up with Wynncom Mobiles, Mr. Satyakalyan Yerramsetti, CEO-160by2.com said, “We are extremely happy with our tie-up with Wynncom mobiles and hope this partnership will take mobile messaging to the next level. 160by2.com will upgrade this application from time to time in order to serve all Wynncom mobile users better.’’

Ranked among the top 100 most visited sites in India , and among the top 10 most visited WAP sites in India , 160by2 also provides bulk messaging platform enabling business and promotional users to connect with their associates and target customers in a cost effective manner.

Popularity: 1% [?]

Apple is one of the world’s most renowned brands; consumers all around the world always keep an eye on all the apple products. Now Apple was sued by an iPad owner, who claims that iPad turns off after few minutes when it gets too hot.

Apple has been sued on 23 July in U.S. District Court in Northern California. It claims the iPad “does not live up to the reasonable consumer’s expectations created by Apple” because it “overheats so quickly under common weather conditions” as reported by Bloomberg. The Apple iPad has so many amazing features with 9.7-inch touch screen display and it also includes Internet browsing, email, photos, videos, music, games and reading newspapers and books.

There are other people who has also faced same sort of issues, for example PC Magazine editor Zach Honig who took his iPad in sunlight and after 10 minutes iPad shut down with the message “iPad needs to cool down before you can use it.” Zach Honig said this on Twitter.

Apple iPad is used by many people around the world & Apple has already sold more than three million iPads. If you are reading this article and want to share your thoughts, please post your comments below.

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There is a set of prefabricated electronic ID tags carefully placed with every garment. The tags work at Radio Frequency, so there is virtually no possibility of an ambiguity. The location can be pointed out from even the remotest corner of this planet. No, this doesn’t come out from a plot of George Lucas movie. Or Steven Spielberg for that matter. This is the latest strategy of retail-giant Wal-Mart to build a smart control over its in-house inventory.

For Wal-Mart, this strategy will ease the management of their inventory as its personnel would have little trouble in locating the products lying away from their usual places. But the electronic ID tag can also assist a criminal passing by, who can use it to know what has been purchased by the household recently. Moreover, the scanner at Wal-Mart stores can also pick other ID’s carrying same type of tags.

The concerns may be mounting but the benefits are there for all to see. Amongst other things, your choice of colour and size in your favourite clothing outlet may be just a button push away.

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Detroit: In a bid to woo shying customers, General Motors (GM), just over a year after it filed for Chapter 11 (bankruptcy), sets out into the market and opts to buy AmeriCredit Corp. for a whopping all cash $ 3.5 Billion deal.

On June 1, 2009, GM had filed for bankruptcy and the U.S. Govt. had to chip in, buying 61% of the stake. A year and a month later GM ventures out to make a heroic deal of $ 3.5 Billion.

After GM sold off a controlling stake in GMAC in 2006, car shoppers were finding it very difficult to get their finances arranged once they lined up to buy a GM car. As such the dwindling business of GM suffered further setbacks with the company missing on its sales numbers.

This deal, its anticipated will give GM a captive finance arm which will give car shoppers a smoother financial experience while shopping for cars.

The great recession of the 2009 not only redefined global economics, it also brought out the precarious fiscal health of the U.S. Govt. currently bogged down under a staggering and constantly skyrocketing national debt of $ 13.2 trillion with a daily borrowing of $ 70 Billion, for running its daily expenses, from countries like China, Japan and India.

In such a delicate scenario all it remains to be seen is whether making an all cash heroic deal of $ 3.5 Billion will further pile on to the existing fiscal burden on the U.S. and its taxpayers.

The GM Deal awaits stockholder approval.

Popularity: 2% [?]