By: PTI | Mumbai | Published: December 5, 2019 5:38:19 pm After swinging between gains and losses, the 30-share BSE Sensex finally ended 70.70 points or 0.17 per cent lower at 40,779.59.Equity benchmarks closed lower in topsy-turvy trade on Thursday after…
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Thyssenkrupp works council demands $1.7 billion investment in steel unit
FRANKFURT (Reuters) – Thyssenkrupp needs to pour 1.5 billion euros ($1.7 billion) into its core steel business after years of underinvestment has left at a competitive disadvantage, the head of its works council. The labour chief’s comments come days after U…
Thyssenkrupp sees limited scope for additional steel investment
DUISBURG/FRANKFURT (Reuters) – Ailing conglomerate Thyssenkrupp will review the business plan for its steel division in the coming weeks, it said on Tuesday, adding there was limited scope for additional funds in light of its stretched balance sheet. The rem…
Exclusive: India probe finds SKF, Schaeffler, Tata Steel units colluded on bearings prices
Exclusive: India probe finds SKF, Schaeffler, Tata Steel units colluded on bearings prices
Tata Steel Europe locks horns with union over 3,000 job cuts; company says move to ensure long-term future
London: Tata Steel Europe said on Wednesday it had begun talks with its workers on a transformation programme that involves up to 3,000 job cuts, prompting an angry response from union leaders who said the plan needed to be revised. Indian-owned Tata Steel, …
Sensex, Nifty open at record peaks in early trade ahead of F&O expiry; TCS, Tata Steel among top gainers
Domestic benchmark indices continued their upward move during early hours on Thursday after scaling new highs a day earlier. BSE Sensex rose over 140 points while the broader Nifty touched an all-time high in the early trade. BSE Sensex jumped over 143 point…
Fix steel unit or drop it, top Thyssenkrupp investor says
By Tom Käckenhoff DUESSELDORF, Germany (Reuters) – Union Investment, a top-10 investor of ailing conglomerate Thyssenkrupp raised pressure on management to soon present a plan for a turnaround of its steel unit, adding the group should otherwise drop the bus…
Tata Steel locks horns with union over 3,000 job cuts
LONDON (Reuters) – Tata Steel Europe said on Wednesday it had begun talks with its workers on a “transformation programme” that involves up to 3,000 job cuts, prompting an angry response from union leaders who said the plan needed to be revised. Indian-owned…
Tata Steel plans to cut jobs across European operations
Tata Steel plans to cut jobs across its European operations as it wrestles with excess supply and high costs, the company said on Monday. Following a weekend interview in the Financial Times with the group’s European chief executive, Henrik Adam, Tata confir…
Tata Steel trims capex, debt reduction plans as demand crimps
Weak demand, coupled with a sharp fall in prices, have forced Tata Steel to recalibrate its capex plans and scale down the debt reduction guidance of USD 1 billion for the fiscal. In May this year, the company, which has a gross debt of Rs 1.11 lakh crore as…