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Found 6 results

  1. LE BOURGET: Lockheed Martin has agreed with Tata Advanced Systems Ltd to jointly build F-16 fighter planes equipped with new-generation electronics in India, both companies said on Monday. The fighters are of the Block 70 type, "the newest and most technologically advanced F-16 ever", they said. "The F-16 Block 70 is ideally suited to meet the Indian Air Force´s single-engine fighter needs and this unmatched US-Indian industry partnership directly supports India´s initiative to develop private aerospace and defense manufacturing capacity in India," said the statement, released on the Paris air show´s opening day. The Indian air force does not currently use F-16s, but industry experts say that local production would be a strong argument in favour of the US plane against its rivals, including French company Dassault´s Rafale, in future procurement decisions. India in 2016 agreed to buy 36 Rafale combat planes for around eight billion euros. Accompanying that deal was a partnership agreement between Dassault and India´s Reliance Group and a promise by Dassault to invest about half of the value of the contract in India. The French company recently said it was in talks for India to buy at least 50 more. India, the world´s top defence importer, is conducting a $100-billion upgrade of its Soviet-era military hardware, facing border disputes with its northern and western neighbours, China and Pakistan. Prime Minister Narendra Modi has moved to reduce India´s reliance on expensive imports and called for the manufacturing of defence equipment locally. Modi´s government has raised the limit on foreign investment in the defence sector and encouraged tie-ups between foreign and local companies. The announcement comes a week before Modi visits Washington for talks with President Donald Trump, who has been putting pressure on American companies to keep production at home. The multi-role F-16 has been in production since 1978, with Lockheed so far producing a total of 4,500 units of the aircraft of which 3,200 are currently in service. Tata Advanced Systems Ltd, a subsidiary of Tata Sons, already runs manufacturing partnerships with several global players, including Boeing, Airbus and Sikorsky.
  2. Eurozone ministers struck a long-delayed bailout deal with Greece on Thursday to unlock badly needed rescue cash, but warned Athens would have to wait for debt relief. After hours of talks in Luxembourg IMF chief Christine Lagarde and the eurozone's 19 finance ministers greenlit a payout of 8.5 billion euros to avoid Athens defaulting in July and avert another summer of Greek crisis. Payment of the latest tranche of Greece's 86-billion euro ($97-billion) bailout, agreed in 2015, has been held up for months by a row over its needs for debt relief which has pitted bailout-weary Germany against the International Monetary Fund (IMF). "I am pleased to announce we have achieved an agreement on all elements," Eurogroup head Jeroen Dijsselbloem told a news conference in Luxembourg. "I think this is a major step forward," he added. In a breakthrough, Lagarde agreed in Luxembourg that the Washington-based IMF would join Greece's massive bailout, but said any payouts depended on the eurozone coming up with a full debt relief plan. "Nobody claims that this is the best solution. This is a second-best solution, but it's not a bad solution," said Lagarde, a former French finance minister. Greater clarity The deal averts a repeat of the summer of 2015 when Greece spectacularly defaulted on an IMF loan, and allows Athens to meet seven billion euros of debt repayments due in July. "We feel that after this Eurogroup there is much greater clarity for both the Greek people and the financial markets," Greek Finance Minister Euclid Tsakalotos said after the talks. "There is now light at the end of the tunnel," he said. Athens had insisted all week it would veto the deal, bitter that the latest disbursement would come without firm debt relief commitments after it delivered on tough reforms. As a consolation, in a compromise negotiated by France, Greece won a certain amount of clarity from the eurozone on debt relief, including an agreement to link debt repayments to Greek growth. Debt relief "will be implemented at the end of the programme, conditional on its successful implementation" in 2018, said Dijsselbloem, who is also Dutch finance minister. Exit strategy The eurozone will now draw up an "exit strategy" over the next year "to enable Greece to stand on its own feet again", Dijsselbloem said. He thanked the "Greek people for their intense efforts and resolve" after the government in Athens passed the latest in a series of tough reforms to get the cash. After three bailouts, Greece's debt currently stands at a staggering 180 percent of annual output, by far the biggest national debt pile in Europe. The IMF, which took part in Greece's two first bailouts, has long insisted that more debt relief was a necessary step to put the economy back on track. But Berlin, Greece's sternest critic and biggest lender, has resisted any fresh commitment to debt relief, saying Athens doesn't need it and must continue reforms. The IMF's decision to come on board was therefore a breakthrough. Lagarde said it would put $2 billion into the programme. Lagarde's move is controversial, with critics accusing the Washington-based organisation of bending its own rules to satisfy Berlin. The IMF had insisted repeatedly that Greece's debt is not sustainable, and that the country would require significant debt relief from Europe before the fund could approve a new loan programme. Greece nearly crashed out of the euro in 2015 after a furious fight over the bailout deal, and says its fragile recovery has suffered from the most recent delay. In an emotional editorial published on Wednesday in France, Greek Prime Minister Alexis Tsipras said Thursday's meeting was "essential" for the "future of Europe".
  3. Shane Warne, one of the best-known Australian bowlers is an England fan. Well, it doesn’t end here, as he is all hopped up to get the England ODI shirt for himself. Don’t believe us, have a look for yourself: .@SGanguly99 Trying to get an England ODI shirt sent to me so I can wear it in honour of our bet. Will tweet a picture asap ! 😩 #CT17 — Shane Warne (@ShaneWarne) June 12, 2017 Wait a minute. BET? What’s this bet he’s mentioned in that tweet. So yeah, in an Aaj Tak Salam Cricket event in London, Ganguly claimed how he thinks team England can perform way better than Australia. Australia. Warne agreed to disagree but ended up challenging Dada for the Eng-Aus Champions Trophy clash. While Ganguly firmly believed England to be the better side, the former spinner picked up a bet. Warne who’s always been anti-team-England said if Australia loses he would wear the England ODI shirt for a whole day. But if Australia wins, Dada would wear Australia’s shirt. Shane Warne also added that the loser treats the winner to a dinner that’s not Mc Donald’s. .@SGanguly99 You win our bet mate. I will find an England shirt and wear it all day ! 😡😡😡😡😡😡😡😩😩😩😩😩😩 — Shane Warne (@ShaneWarne) June 11, 2017 After the match, Warne was obviously disappointed. But the legendary spinner is a man of his word and hence soon we’re going to see him pull off the England Jersey with sass. Dada’s confidence in the English team is commendable. Our former captain showed how his judgment of a team is way better than anyone else. Australia's performance... I didn't like the team that Aust put on the park & the team lacked energy for the #CT17 tournament ! England don't fear Aust anymore. #ashes — Shane Warne (@ShaneWarne) June 11, 2017 Well, be it a cricket match or any bet, Sourav Ganguly has never disappointed his. Cheers to winning more bets, Dada.
  4. Music streaming leader Spotify has agreed to set up a $43.45 million fund to settle a potentially costly pair of US copyright lawsuits from artists, lawyers said Monday. The move marks the latest effort by the Swedish company to turn the page on messy disputes as it considers a public listing amid the soaring growth of streaming. The settlement would end lawsuits spearheaded by two indie songwriters who double as academics -- folk rock singer Melissa Ferrick and David Lowery, frontman of alternative rock bands Cracker and Camper Van Beethoven. The two had pursued class-action cases -- meaning a mass of musicians could claim payouts -- with Ferrick seeking $200 million and Lowery asking for $150 million. The artists had accused Spotify, which boasts of offering instant access to 30 million songs, of recklessly putting music online without securing mechanical rights -- the permission to reproduce copyrighted material -- from the tracks' composers. Spotify and other streaming services pay royalties both to performers and songwriters -- who are often lesser known and, for older and more obscure songs, more difficult to identify. Under the settlement filing that needs to be approved by a federal judge in New York, Spotify would set up the $43.45 million fund to compensate songwriters for lack of licensing. Spotify would also pay for streams of the tracks afterward -- which the filing said would "easily total tens of millions of dollars in future royalties." Steven Sklaver, a Los Angeles-based lawyer who co-led the case, called the settlement especially significant as Spotify had already reached a deal last year with the National Music Publishers' Association. The association, which represents songwriters under major US publishers, secured substantially less at around $21 million over songs whose composers had been difficult to identify. - Substantially bigger deal - Sklaver, a partner with the firm Susman Godfrey, estimated that hundreds of thousands of songwriters would qualify as part of the class seeking payment from Spotify. But the national association has said that more than 96 percent of music publishers accepted last year's deal. They are ineligible for the latest settlement -- meaning much bigger payouts for indie artists such as Lowery and Ferrick who held out. Under the settlement, Spotify would work with other industry players including record labels to digitize copyright records for musical works before 1978, when US law in its current form took effect. Spotify would also support the creation of an outside body to help identify unmatched tracks and set up an auditing system so songwriters can verify the accuracy of royalty payments. Spotify did not respond to a request for comment on the settlement. The company, which as a private company does not need to disclose financial figures, was estimated to be worth more than $8 billion in 2015 when it secured investors' financing. That figure is likely to have risen sharply with the rapid growth of streaming and Spotify, which said in March that it had more than 50 million paying subscribers. Spotify has long mulled going public, likely by listing on the New York Stock Exchange. Last week the company again raised expectations by naming four new members to its board, three of them with experience in the entertainment industry. Fueled by streaming, the global music industry has posted two straight years of solid growth, the first substantial expansion since the start of the internet age two decades ago. But Spotify and other streaming services have frequently been hit by complaints by artists who say that they are insufficiently paid -- although the number of musicians who boycott streaming has dwindled to a trickle.
  5. In a recent interview with GQ, his first one since his divorce, Brad Pitt revealed that he had started therapy and had cut back on excessive drinking and marijuana smoking. In the candid interview, he opened up about the difficulties he faced folowing his separation from Jolie and their six children. But, along with the serious interview was a questionable photoshoot. He was photographed by Ryan McGinley, a photographer who is best known for his portraits of young, frequently nude people in wide, open landscapes of spectacular beauty. People on Twitter obviously had a lot to say about the pictures and here are the best reactions : Things have been tough for Brad Pitt since Angelina got gravity in the divorce. — Matt Fernandez (@FattMernandez) May 3, 2017 Brad Pitt from left-right as: Post-crack Justin Bieber, Man Sorry for Masturbating in Public Park, Robert Downey-Junior in new drag role — Alexandra Haddow (@MissAHaddow) May 3, 2017 GQ photographer: imagine you're a worm, right? and a bird's just dropped you from its beak. can you show me that? Brad Pitt: — Alex Bruce-Smith (@alexbrucesmith) May 3, 2017 Brad Pitt's GQ photo shoot went well. — Born Miserable (@bornmiserable) May 3, 2017 Is anyone going to point out that these Brad Pitt pics are just the Harry Styles photoshoot part 2 — Miranda Langford (@mirandalang) May 3, 2017 Brad Pitt in his latest role as a fallopian tube here — Alexandra Haddow (@MissAHaddow) May 3, 2017 Brad Pitt posing for GQ looks like an actual Saturday Night Live sketch about Brad Pitt posing for GQ. — Jamie Woodham (@jwoodham) May 3, 2017 mood: brad pitt in a onesie laying in the snow — Alayna McClintock (@laynarebecca) May 3, 2017 This was all I saw while glancing through the Brad Pitt GQ photos. #whoworeitbetter — blynken (@blynken) May 5, 2017 the same photographer that did Harry's Another Man did Brad Pitt's GQ piece and he only has access to one (1) sweater vest apparently — Allyson Gross (@AllysonGross) May 3, 2017
  6. Whenever Rakhi Sawant opens her mouth, everyone just expects it to be something outrageous. But, she has outdone herself this time. A couple of days ago, Ram Gopal Verma showed the world how creepy he is with his tweets on Women’s Day, and any normal woman would disagree with his derogatory comments. But not Rakhi Sawant. Recently while talking to the media, she said, “Whatever Ram Gopal Varma said is right. I am with him, where he has praised Sunny Leone. I would also like to say that every woman, as said by Ram Gopal Varma, should learn to give pleasure.” © Twitter “Women should let go their responsibilities of kitchen and should take coaching classes of how to give pleasure,” she further added. We can’t even begin to explain how wrong and ridiculous this is. She’s basically telling women to give up everything and just revolve their lives around men and just to focus on how to pleasure them. Her defence was that if women give their husbands pleasure, these men would not leave them after 20-30 years of marriage. Seems like these two are just trying to outdo KRK at this point.