Should the Internet be Taxed?

On Friday, a new California state law goes into effect that will tax Internet sales through affiliate advertising. Rather than pay such taxes, online retailers like Amazon will instead shut down their affiliate programs in the state. For Amazon, that is said to come to 25,000 sites in California alone.

Was this a wise move by the California government? Tell us what you think.

Democrat Governor Jerry Brown has called it a “common sense idea,” according to one report from the LA Times. Though clearly many disagree with that notion, thinking that it will do more harm that good. Amazon CEO Jeff Bezos has said in the past that the company is protected in the U.S. constitution’s prohibition of state’s interference in interstate commerce:

Rupee opens at 44.50 per dollar

The Indian rupee opened at 44.50 per dollar versus 44.58 on Friday.

The rupee could be flat today with gains being capped on account of importer buying. Domestic equity market cues could decide the future direction of the currency. The range for the day is seen between 44.50 - 44.65/$.

Reliance Retail hires former Wal-Mart execs

The retail subsidiary of Indian conglomerate Reliance Industries has appointed two former Wal-Mart executives to run the operations, the Economic Times reported on Monday, ahead of an expected opening up of the retail sector.

Rob Cissell has been named chief executive and Shawn Gray as chief operating officer, the newspaper said, citing an email by Reliance to senior company officials.

A panel of top Indian officials is likely to meet this month to decide on allowing foreign direct investment in multi-brand retail, two senior government sources told Reuters on Friday, an indication New Delhi wants to move ahead on a long-delayed reform initiative.

Nifty above 5650

The Indian markets opened on a strong note mirroring positive Asian cues. Rate sensitives led the rally for Indian markets. Realty, power, auto and banking stocks were trading firm in the opening bell.

At 09.18, the Sensex was up 151.83 points or 0.81% at 18914.63. About 666 shares advanced, 123 shares declined, and 2868 shares remain unchanged.

In the largecap space, DLF, Reliance Infra, Sterlite Industries, Mahindra and Mahindra and Jaiprakash Associates were up 1-3%. On the losing side, Tata Steel, Maruti Suzuki and Larsen were trading marginally in red.

Neeraj Grover murder case

Kannada actress Maria Susairaj, sentenced to three-year imprisonment in the 2008 murder of TV executive Neeraj Grover, today walked free out of a jail here as she has already spent the term behind the bars.

Clad in a floral brown kurta and black pants, the 30 year-old was escorted to a waiting car by a posse of policemen as there was a huge media presence outside the Byculla Jail.

The starlet was found guilty under IPC Section 201 (causing disappearance of evidence) and awarded the jail term yesterday along with boyfriend, former navy officer Emlie Jerome, who was held guilty of culpable homicide not amounting to murder in the macabre killing of the 25-year-old TV professional over three years ago.

While Maria was released, Jerome (28), awarded ten years imprisonment, will have to be behind bars for seven more years. The duo had been in jail for three years as undertrials.

Jerome was also sentenced to three years imprisonment for destruction of evidence. Both the sentences would run concurrently.

Both the accused were charged by the prosecution with murder, criminal conspiracy, common intention and causing disappearance of evidence.

Maria's counsel Sharif Sheikh had contended that she had already served three years in jail, as provided under Section 201 of IPC, and "keeping her in jail for more days would be like illegal confinement".

Maintaining that she was not a habitual offender, Sheikh pleaded for lighter sentence considering her young age.

Absolving the couple of murder charge on Thursday, Sessions Court Judge N W Chandwani, while pronouncing the quantum of sentence yesterday, also ordered the two to together pay a fine of Rs 1.50 lakh, which is to be paid to the victim's father.

Neeraj's grieving father Amarnath Grover had described the sentence as an "acquittal" for Maria.

Neeraj was killed and his body hacked into several pieces and dumped in Manor forest in adjoining Thane on May 7, 2008.