High Court scrapes Lucknow University law admission ordinance

In the writ petition filed by one LLM aspirant, the petitioner challenged the validity of the university ordinance that provides 80 per cent seat reservation only to LU law graduates.

High Court scrapes Lucknow University law admission ordinance

High Court scrapes Lucknow University law admission ordinance

  • 7-year-old girl seeks a job in Google, gets touching reply from Sundar Pichai
  • CBSE scrapes academic reforms, might discontinue international curriculum
  • Mumbai University: Students, working professional pursuing distance learning course to get free counselling
  • USD 1.5 million grant provided to US University for Jainism Studies
  • NEET 2017: Allahabad HC seeks response from Centre, MCI over age limit

After a writ petition filed by one LLM aspirant challenging the validity of the ordinance that provide 80 per cent seats to LU law graduates, the High Court Lucknow bench has annulled the ordinance duly.

Moreover, the High Court bench headed by Justice DK Upadhyay also directed the university to scrape the ordinance by this academic session 2017-2018.

While the court asked the varsity to complete the current admission process, which is delayed due to the court’s interim direction at the earlier point of time, the teachers are anticipated to cooperate in finishing the course in order to hold the examinations as it has been scheduled.

More on the news:

  • In the writ petition filed by one LLM aspirant, the petitioner challenged the validity of the university ordinance that provides 80 per cent seat reservation only to LU law graduates
  • The petitioner, considering Supreme Court’s directives, had pleaded that only 50 per cent of reservation are permitted to the institution
  • The university defending its ordinance pleaded that their students who generally secured 70-75 per cent are unable to secure admission in other universities as national law universities and other universities including the private ones adopted grading system which rendered their students an edge over LU’s students
  • The High Court however dismissed LU’s plea and observed that, “No study appears to have been conducted by the university before framing the impugned ordinance, neither any such material has been supplied to conclude as to how in the absence of a grading system to evaluate LLB examination is resulting in irreparable disadvantage to Lucknow University law graduates,” as reported in TOI.
  • source”cnbc”

Intel pursues Moore’s Law with plan to make first 7-nm chips this year

Intel fab worker

Credit: Intel

Intel’s next big Moore’s Law advance will be a 7-nm pilot plant it is establishing this year to explore the upcoming manufacturing process.

The chipmaker announced it was establishing the pilot plant during an earnings call on Thursday.

For decades, Moore’s Law has been the guiding light for Intel to make teenier, faster, and more power-efficient chips. The effort has helped PC makers continuously shrink laptops and mobile devices while adding longer battery life.

Intel is trying to hang onto the long-standing observation as a way to push its chip technology forward. However, some experts argue Moore’s Law is expiring as it becomes physically impossible to cram more features on smaller chips.

The pilot plant will test and iron out kinks in manufacturing 7-nm chips. Intel hasn’t said when it’ll start shipping 7-nm chips in volume, but it won’t be in the next two to three years.

“The pilot line is about figuring out how to make billions of chips,” said Dean McCarron, principal analyst at Mercury Research.

The pilot plant has limited production, but it sets the stage for Intel to invest billions in larger factories to make smaller 7-nm chips.

“Once they have the process locked down, it’s replicated in the other plants,” McCarron said.

Intel’s latest chips, based on Kaby Lake, are made using the 14-nanometer process, and the company is now moving to 10-nm with its upcoming Cannonlake chip, which was shown in a PC at CES earlier this month. The 7-nm chips will come after the 10-nm process.

Cannonlake chips will ship in small volumes by year-end, and their availability will expand next year, Intel CEO Brian Krzanich said during the earnings call.

Moore’s Law has also helped Intel roll out new chips on a yearly basis like clockwork. Intel first interpreted Moore’s Law as a way to double the number of transistors in chips every 18 to 24 months, which doubles performance.

But that interpretation didn’t work on the 14-nm process, where it became a challenge to cram more transistors in smaller geometries. Intel dealt with embarrassing product delays and had to move away from its decades-old schedule of advancing the manufacturing process every two years.

Intel also broke away from its history of making two new chip technologies with each manufacturing cycle. It made three new chip technologies — Broadwell, Skylake, and Kaby Lake — with the 14-nm process.

The chipmaker now isn’t worried about doubling the transistor count with every new chip generation. Instead, Intel is now interpreting Moore’s Law more in line with the economics related to cost-per-transistor, which would drop with scaling. That’s an important part of Moore’s Law.

Intel last year said it was trying to get back to a two-year manufacturing cycle with the 7-nm process, but with smarter chip designs.

The 7-nm process could bring radical design changes to chips, which will be much smaller and power efficient. Intel’s planning on using exotic III-V materials like gallium-nitride for faster chips that could bring laptops longer battery life.

Intel is looking at the 7-nm process to alleviate some of the challenges it faces on the 14-nm and 10-nm processors. The company has hinted it would introduce EUV (extreme ultraviolet) tools in the manufacturing process. EUV will help etch finer features on chips, but its implementation has been delayed multiple times.

The pilot factory will help validate all those features, and then allow Intel to order equipment for the new factories, McCarron said.

Competitors like Globalfoundries and Samsung are getting a head-start on the 7-nm process. Globalfoundries has said it will start making 7-nm chips by 2018, and ARM has released tools for the design of 7-nm chips. It’s not clear if Globalfoundries will do 7-nm test runs or start making chips in large volumes.

Samsung and Globalfoundries have just started making 10-nm chips like Qualcomm’s Snapdragon 835, which will appear in smartphones soon.

Globalfoundries is a close partner with IBM, which produced the first 7-nm chips last year.

source”cnbc”

A plan to tax US imports has better odds of becoming law than many people think

Container ships at the Port of Oakland

Container ships at the Port of Oakland

Getty Images

A controversial proposal to tax all goods and services coming into the United States has a better chance of becoming law than many on Wall Street suspect.

The so-called “border-adjusted” tax is part of the House tax overhaul plan that also would reduce the corporate rate from 35 percent to 20 percent.

The idea is to tax goods as they come into the country from overseas, but to avoid taxing U.S. exports at all. For instance, a car imported into the U.S. from Mexico would be taxed, but the American-made steel sent to Mexico would not.

Proponents say the proposed “destination tax” would encourage more U.S. production of goods and create U.S. jobs. But opponents say it will send prices higher, unfairly cut profits for some sectors, particularly the retail industry, and could prompt retaliation. The idea is similar but not quite like a VAT, or value added tax, common in other countries.

The stock market has been celebrating promises of lower corporate taxes that could boost business spending, but it has been ignoring proposals that could sting some companies’ bottom lines. Retailers, automakers and refiners are among the industries that could be hit if imports are taxed

source”cnbc”

A plan to tax US imports has better odds of becoming law than many people think

Container ships at the Port of Oakland

Getty Images
Container ships at the Port of Oakland

A controversial proposal to tax all goods and services coming into the United States has a better chance of becoming law than many on Wall Street suspect.

The so-called “border-adjusted” tax is part of the House tax overhaul plan that also would reduce the corporate rate from 35 percent to 20 percent.

The idea is to tax goods as they come into the country from overseas, but to avoid taxing U.S. exports at all. For instance, a car imported into the U.S. from Mexico would be taxed, but the American-made steel sent to Mexico would not.

Proponents say the proposed “destination tax” would encourage more U.S. production of goods and create U.S. jobs. But opponents say it will send prices higher, unfairly cut profits for some sectors, particularly the retail industry, and could prompt retaliation. The idea is similar but not quite like a VAT, or value added tax, common in other countries.

The stock market has been celebrating promises of lower corporate taxes that could boost business spending, but it has been ignoring proposals that could sting some companies’ bottom lines. Retailers, automakers and refiners are among the industries that could be hit if imports are taxed.

“What they are doing is making that corporate income tax border-adjustable, so the only thing that matters is whether something is produced … If the import comes from outside the U.S., the U.S. company is paying a tax on the item. If the company exports their product, the income from that sale will not taxable. This is why Republicans refer to it as a destination tax.”-Daniel Clifton, head of policy research, Strategas

“I think the market is focused on the candy — lower tax rates — and not the spinach that’s needed to pay for it,” said Daniel Clifton, head of policy research at advisory firm Strategas. Clifton said that after Donald Trump was elected president, the odds of a border-adjusted corporate tax rose from 10 percent to about 30 percent.

Trump and the Republican Congress are expected to take a swing at overhauling corporate and individual taxes in some form, merging Trump’s plan and the Congressional proposal, with the hope of making changes for the 2017 calendar year.

“Every time I look at the House Republicans saying this is going to be included, you have to take this proposal seriously,” said Clifton. “The U.S. has a corporate income tax, and what they are doing is making that corporate income tax border-adjustable, so the only thing that matters is whether something is produced … If the import comes from outside the U.S., the U.S. company is paying a tax on the item. If the company exports their product, the income from that sale will not taxable. This is why Republicans refer to it as a destination tax.”

The prospect of a 20 percent corporate tax rate — from 35 percent — and a plan for repatriation of corporate cash stashed overseas have helped send stocks higher since the Nov. 8 election. The market has also been focused on a reduction in the capital gains tax rate for some investors, as Congress is expected to eliminate the 3.8 percent tax, related to the Affordable Care Act, on top of the already 20 percent capital gains tax rate.

Julian Emanuel, equity and derivatives strategist at UBS, said he expects the corporate tax rate will end up being between 20 and 25 percent, as legislators weigh tax cuts against revenues. Trump proposes a 15 percent corporate tax rate.

Emanuel said the destination tax can’t be dismissed, even though for now Wall Street is not giving it high odds. “It’s on the table … if we’ve learned anything in 2016, it’s that anything is possible,” he said.

Clifton said the border-adjusted tax is a way to lower the tax rate dramatically, and without it, the corporate tax rate could not be cut as much as proposed.

“Number one, Donald Trump says he’s going to do tariffs, but this is a way of doing tariffs but in a less hurtful way. It begins to create incentives for companies to come back to the U.S. It also gives you a ton of tax revenues that could be used to get the corporate tax rate lower,” Clifton said.

Goldman Sachs economists also put a one-in-three chance on the idea of a destination-based, border-adjusted corporate tax gaining approval. They expect the proposal to continue to remain in the legislation as it goes through the early stages of consideration, and that could put more focus on it.

source”cnbc”