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Month: May 2019

British Steel ‘on the verge of collapse’, risking 25,000 jobs

British Steel ‘on the verge of collapse’, risking 25,000 jobs

British Steel, the beleaguered manufacturer which last week asked the United Kingdom government for a $95m bailout loan, is on the brink of collapse, a source told Reuters news agency. The steelmaker's owners, Greybull Capital,…

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Germany’s Thyssenkrupp to seek new steel partners, CEO tells paper

Germany’s Thyssenkrupp to seek new steel partners, CEO tells paper

FRANKFURT (Reuters) - Thyssenkrupp will still seek partners for its steel operations after abandoning a European merger with India’s Tata Steel, Chief Executive Guido Kerkhoff said in comments published on Sunday. Kerkhoff ditched a restructuring…

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Tata Motors profits fall 47% amid Jaguar Land Rover China slowdown

Tata Motors profits fall 47% amid Jaguar Land Rover China slowdown

Indian carmaker Tata Motors on Monday reported a 47 percent fall in quarterly profits after being hit by new struggles to sell its luxury Jaguar Land Rover cars in China and other key markets. Only…

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Tata Steel to explore all options for European unit after ThyssenKrupp JV falls apart

Tata Steel to explore all options for European unit after ThyssenKrupp JV falls apart

MUMBAI (Reuters) - India’s Tata Steel Ltd said on Friday it will explore all options for its European steel business after its proposed joint venture with German steel giant ThyssenKrupp AG failed to secure regulatory…

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Tata Steel says EU not likely to ok Thyssenkrupp JV

Tata Steel says EU not likely to ok Thyssenkrupp JV

BENGALURU (Reuters) - Tata Steel on Friday said that the European Commission does not intend to clear its proposed joint venture with Germany’s Thyssenkrupp. The two companies had agreed last year to combine their steel…

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Krupp Foundation: We supported Thyssenkrupp’s Tata JV plans

Krupp Foundation: We supported Thyssenkrupp’s Tata JV plans

BERLIN (Reuters) - Alfried Krupp von Bohlen und Halbach Stiftung - Thyssenkrupp’s biggest shareholder - said it had supported the company’s management in its joint venture plans with India’s Tata Steel and the planned split…

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British Steel collapse: 25,000 jobs at risk as assets liquidated

British Steel collapse: 25,000 jobs at risk as assets liquidated

British Steel has been ordered into compulsory liquidation after talks with the government failed to secure a bailout, threatening the jobs of about 5,000 employees, with another 20,000 jobs in the supply chain. The steelmaker…

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ThyssenKrupp’s Strategic Uncertainty Overshadows Elevator IPO Positives

ThyssenKrupp’s Strategic Uncertainty Overshadows Elevator IPO Positives

ThyssenKrupp (OTCPK:TYEKF/OTCPK:TKAMY) is in the midst of a major restructuring following a poor run of financial results - its equity value has been halved over the past twelve months. The company has embarked on aggressive…

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How A Private Equity Firm Brought About The Death Of British Steel

How A Private Equity Firm Brought About The Death Of British Steel

The iconic U.K. steelmaker British Steel has collapsed into insolvency. On Wednesday May 22 the High Court in London forced it into compulsory liquidation, the U.K. equivalent of Chapter 7 bankruptcy, after the U.K. government…

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UK minister says he talked about Port Talbot with Tata Steel

UK minister says he talked about Port Talbot with Tata Steel

LONDON (Reuters) - A British government minister said on Tuesday that talks he held with Tata Steel this week were about issues relating to the firm’s site in Port Talbot in Wales. “I would say…

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