26 March 2021

1) The U.S. Supreme Court, in a unanimous 8-0 ruling in a civil procedure case, has made corporations suffer a huge loss by making it easier to sue over defective and dangerous products. The basic thrust of the controversies is actually fairly simple in the case of Ford Motor Co. v. Montana Eighth Judicial District Court. The state court held that it had jurisdiction over Ford Motor Company in a product liability suit stemming from a car accident, since the accident happened in the state where suit was brought, and the victim was one of the state’s residents. Furthermore Ford did substantial business in the state with advertising, selling, and servicing the model of vehicle the suit claims is defective. Ford contends that jurisdiction is improper because the particular car involved in the crash was not sold in the state where Ford was sued, nor was it designed or manufactured there. The Supreme Court has essentially staked out two methods for bringing lawsuits against huge corporations: 1) general jurisdiction, and 2) specific jurisdiction. When minimum contacts are found to be sufficiently related to the cause of action, a given court may exercise jurisdiction over such claims.

2) Taiwan and the U.S. plan to deepen maritime security ties in view of China’s escalating ‘gray-zone’ threats. The Chinese government has made vast maritime claims in the South China Sea and also claims sovereignty over the Japanese controlled Senkaku Islands, which it calls Diaoyu. Until Beijing enacted its new coast guard law last month, the country relied on its myriad of armed fishing militia to harass the vessels of other regional claimants. However, China’s neighbors have raised concerns about the revised maritime police legislation, which allows coast guard ships to fire upon foreign vessels deemed to be intruding in Chinese territorial waters. Manila and Tokyo, both who are U.S. defense treaty allies with the U.S., have expressed concern at the potential consequences of the law.

3) Google’s systems infrastructure group calls their new Systems on Chip (SoC) the motherboard on a chip. The cloud computing giant, who is always in need of more computing power for its servers, until now relies on the motherboard as an integration point, where CPUs, networking, storage devices, custom accelerators and memory all come together. To gain higher performance and to use less power, workloads demand even deeper integration into the underlying hardware. With the SoC, the latency and bandwidth between different components can be orders of magnitude better, with reduced power and cost compared to traditional motherboards.

4) Stock market closings for – 25 MAR 21:

Dow Jones 32,619 up by 199.42
NASDAQ 12,978 up by 15.79
S&P 500 3,910 up by 20.38

10 Year Yields: up at 1.635

Oil: down at 61.84

22 August 2019

1) Retailers Target and Lowe’s posted second quarter sales higher than anticipated by analyst. Target’s ‘same store sales’ is up by 3.4% compared to an expected growth of 2.9%. This news boosted Target’s stock by 16%. Lowe’s also reported better than expected second quarter earning results which pushed its stock up 10%. These big box store reports help qual fears of an approaching recession.

2) The chip maker Intel announced two new chip products for the AI (Artificial Intelligence) market, processors as part of its Nervana Neural Network Processor. This chips will accelerate training and inferences drawn from AI models. This will allow AI systems to gain inferences and insights more readily. They will help AI platforms address the crush of data being generated and ensure AI enterprises make efficient use of their data, by processing it where it’s collected.

3) Boeing, the aircraft manufacturer, is incurring additional cost from its grounded 737 MAX, by hiring hundreds of temporary workers to help maintain its growing fleet of 737 MAXs that Boeing is storing until the FAA restores its certification. These temporary workers have skills such as avionics technicians, aircraft mechanics, airframe and power plant mechanics and aircraft electricians. Once the aircraft is re-certified, these technicians will be needed to upgrade the software and prepare aircraft for delivery.

4) Stock market closings for – 21 AUG 19:

Dow            26,202.73    up    240.29
Nasdaq         8,020.21    up      71.65
S&P 500        2,924.43    up       23.92

10 Year Yield:    up   at    1.58%

Oil:    up   at    $55.85