1)ECB calls time on KP’s England career
I believe I have a great deal still to give as a cricketer, says the dashing batsman
England has declared that it will never pick troublesome Kevin Pietersen — its finest batsman, the highest scorer on the recent disastrous tour of Australia and one of its all-time greats — again.
It appears that the decisive moment came when Alastair Cook — the captain and Pietersen’s defender — turned against him. Apparently they had a violent row in the Sydney dressing room during the final Test — some say they had to be torn apart — and that dispute left KP without any friends in the team.
2)Former captains differ on axing
Often a polarising figure while on England duty, the end of Kevin Pietersen’s international career split opinion among his fellow former England captains.
Tuesday’s announcement by the England and Wales Cricket Board was praised by Bob Willis as an “act of authority” on the part of its new managing director, Paul Downton.
But Michael Vaughan, star batsman Pietersen’s first Test captain, lamented the failure to “manage a maverick”.
“Full marks to Paul Downton – he’s put his stamp of authority on the job,” Willis said. “Let’s be honest — Pietersen has disrupted every single dressing-room he’s been in.”
“No man is bigger than the game, and England have decided Kevin Pietersen got too big for his boots.”
Meanwhile Vaughan, acknowledging he’d been fortunate to deal with Pietersen before the advent of the lucrative Indian Premier League, nevertheless insisted he’d been mismanaged of late.
3)ECB’s Clarke defends ICC decision
The England and Wales Cricket Board (ECB) has defended the International Cricket Council’s (ICC) decision to give Australia, England and India more power in the sport.
According to Sport24 , ECB chairman Giles Clarke has defended the decision, saying that as the ICC needs to go to market this year with their broadcast and sponsorship rights for the period 2015-2023, therefore they have asked India, Australia and England to come up with a proposal that will guarantee the participation of all nations in those events.
Stating that without the guarantee the rights would be seriously devalued, Clarke denied that only Australia, England and India would benefit from the changes and said all countries would earn more through the proposal, adding that as India’s contribution to world cricket is extremely important, so it should be recognised.
4)Carlsen triumphs
Viswanathan Anand crashed to three successive defeats in rapid chess — once considered his forte — and finished last in the six-player competition shortened time-format on the concluding day of the Zurich Chess Challenge in Zurich on Tuesday.
The points scored in the rapid contest were considered for the double-leg premier tournament played under two different time formats.
The points earned from the five rounds played on classical time format were doubled and added to the rapid tally of each player.
Carlsen’s aggregate of eight points from classical games had given him a two-point advantage over the field before the rapid rounds.
This proved crucial since the Norwegian could only add two points from five rapid games but still managed to emerge champion with a combined tally of 10 points.
Caruana, who defeated Aronian in the final classical round on Monday, topped the rapid contests with four points.
In fact, Caruana and Aronian shared the second spot, ahead of USA’s Hikaru Nakamura.
Anand, who lost to Aronian, Nakamura and Caruana in the first three rounds of rapid-play, drew with Gelfand and Carlsen to retain his fifth position. Gelfand, fifth in the rapid, was placed last.
5)Spectrum sale elicits bids worth Rs.50,000 cr
900 MHz, most sought after band
The Central Government has so far been ensured of at least Rs.50,000 crore from the ongoing sale of spectrum as the third day of the auction on Wednesday saw telecom companies still continuing to bid aggressively for 900 MHz band radio waves on offer in three metro circles of Delhi, Mumbai and Kolkata.
“Bids of around Rs.50,000 crore were received at the end of 21 rounds on [the] third day of spectrum auction…Besides 900 MHz band, demand for 1800 MHz in many circles also picked up today [Wednesday]. We will continue with [the] auction tomorrow,” Telecom Secretary M. F. Farooqui told journalists here. The Telecom Secretary also said the government would get at least Rs.15,000 crore in the current fiscal based on the bids received at the end of the third day. Successful bidders will pay 25 per cent of the winning price upfront. The remaining will have to be paid in instalments till 2026.
Government sources said bids worth Rs.20,000 crore had been received for 900 MHz band and Rs.30,000 crore for 1800 MHz band. Aggressive bidding was seen for the 900 MHz band in the three metros where licences of Bharti Airtel and Vodafone India will expire in November this year and their operations could be in trouble unless they buy radio waves to ensure continuity of their services.
6)Cognizant turns cautious, predicts 16.5 per cent rise in revenue for 2014
Fourth quarter net profit rises 16 per cent to $324.3 million
IT firm Cognizant, on Wednesday, reported a 16 per cent increase in fourth quarter profit, largely in line with market expectations, on the back of healthy orders during what is a seasonally slow quarter.
The New Jersey-based firm, which has a majority of its employees in India, also forecast a revenue growth of at least 16.5 per cent for 2014—a guidance that is lower than this year’s growth but should still reassure most investors of the healthy prospects of the overall software export industry. Cognizant follows a January – December reporting period.
For the fourth quarter ended December 31, 2013, the company reported a net profit of $324.3 million, compared with $278.8 million a year ago. Revenue also surged 21 per cent to $2.36 billion.
“Our strategy through these twenty years has been to challenge the status quo, and constantly reinvent for the future. We believe that we are well positioned to continue to do so in 2014 and beyond,” said Francisco D’Souza, Chief Executive Officer, in a statement.
For the full year (2013), the software services exporter reported an increase in net profit to $1.23 billion ($1.05 billion) on revenue of $8.8 billion, up 20 per cent from $7.346 billion 2012.
“The company anticipates the first quarter 2014 revenue to be at least $2.42 billion and full-year revenue to be $10.3 billion, which is up 16.5 per cent compared to 2013,” the statement said.
7)Merc to take on competition with compact models
Mercedes Benz India is set to heat up competition in the compact luxury car segment with two new models, to be positioned in the sedan and SUV categories. Touted as game changers for Mercedes, the two models will take on Audi and BMW in the sub-Rs.30 lakh luxury car segment.
The German car maker, the second largest luxury brand in the country, on Wednesday, unveiled compact luxury models CLA 45 AMG and GLA Class along with M-Guard, a bullet-proof SUV for special protection needs.
SUV GLA Class is set to take on BMW’s X1 and Audi’s Q3, and is expected to intensify competition in the entry- level luxury SUV category. CLA 45 AMG will expand the company’s offerings in the segment. Mercedes already has A and B class sedans in the compact segment, and the new offerings are set be another volume driver. Both cars are expected to hit the roads this calendar year, but the exact dates of their are not provided.
8)2 new 100cc bikes from Hero MotoCorp
Hero MotoCorp, on Wednesday, unveiled two new 100cc bikes — Splendor Pro Classic and Passion TR — at the Delhi Auto Expo. These are expected to go on sale in the next two months.
Besides, the company showcased a 620cc super premium motorbike Hastur and two concept bikes SimplEcity and iON.
“The two bikes (Splendor and Passion) are ready to be launched commercially. Hastur, which will mark our foray into the superbike segment, needs more research before launch,” Managing Director and CEO Pawan Munjal told reporters here.
On concept bikes, Mr. Munjal said, “They are destined for the future.”
9)Sensex gains 49 points
The S&P BSE Sensex erased early losses, and ended about 49 points higher on Wednesday amid positive global cues.
The 30-share barometer resumed better but dipped to a low of 20076.10 on mixed Asian cues and sustained selling by foreign funds.
Buying after mid-session, however, lifted the Sensex to settle at 20261.03, a rise of 49.10 points.
The broad-based 50-share CNX Nifty of the NSE ended up 21.50 points at 6022.40.
Rupee slips 4 paise
The rupee on Wednesday resumed higher at 62.42 a dollar from the overnight close of 62.53, and improved further to a high of 62.35.
Later the Indian currency fell back to a low of 62.62 before settling at 62.57, a fall of four paise.
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