To take action against non-cooperative jurisdictions, including tax havens.
A year after the Tata group took over the two of Britain's most iconic automobile brands, Jaguar and Land Rover, it is faced with newer and bigger challenges than it would have expected when it paid $2.3 billion to Ford for the acquisitions on March 26, 2008.
Tata's comments come a little over two weeks after JLR management and its workers agreed to a two-year pay freeze, subject to no compulsory layoffs for the next two years. This is also the first time the Tata chairman has made a direct public appeal to the UK government for credit support.
Brazil, Russia, India & China (known collectively as BRIC) on Sunday sought a re-balancing of representation on the executive board and the International Monetary and Financial Committee of the International Monetary Fund (IMF). The committee is the policy-making arm of the IMF.
The UK government today approved a grant of pound 27 million to Tata Group-owned Jaguar Land Rover
The 997-acre plot in Singur handed over by the West Bengal government to Tata Motors is likely to remain in the hands of the company and can be returned only after a year or so.
The company is also mulling to enter the currency futures space through the exchange. Recently, the Securities and Exchange Board of India had issued guidelines for SME exchange, and had set a minimum net worth criteria of Rs 100 crore (Rs 1 billion) for entity willing to start it.
mjunction services, one of the largest e-commerce companies promoted by Steel Authority of India and Tata Steel, has shelved its initial public offering plan after Tata Steel indicated it would back the management team for its future expansion plans.
Corus currently employs about 42,000 people and a little over half of them are stationed in the United Kingdom. A company spokesperson told Business Standard that jobs will be cut in three plants - 1,100 in South Wales, 1,400 in the United Kingdom and another 1,000 in Holland.
Paramount Airway's Managing Director M Thiagarajan insists that his is the only profitable airline in the country, but refuses to share the company's balance sheet with the media.
In an effort to control costs, Chennai-based IT solutions provider Ramco Systems has decided to slash the salaries of senior managers by 10-15 per cent. The move is likely to affect close to 220 of its 1,663 employees.
Sources in the West Bengal government's finance department said the state had made budgetary provisions that would run into several hundred crores every year for 20 to 30 years to attract Tata Motors' Nano project to Singur.
CavinKare, which has successfully competed with multinationals, including Hindustan Unilever, in the sachet segment to retain leadership in key southern markets, will now have to prove its acumen in the bottled shampoo segment, which is increasingly getting competitive after new marketing strategies were adopted by ITC and other players.
The West Bengal government's new compensation package for 'unwilling' farmers in Singur, 40km from Kolkata, might have been praised by Tata Motors, but those involved in land transactions in the area find the offer inadequate.
The surprisingly strong opposition to land acquisition in Singur and earlier events at Nandigram, where local protests forced the government to scrap plans for a chemical hub, have induced investors keen on acquiring land in West Bengal to come up with compensation packages that can only be described as extravagant.
"My life has been full of interesting people", Rama Prasad Goenka tells Business Standard when asked about memories of an era when the open Indian economy was converted into a closed one based on the licence raj by the person whom he openly idolises, former Prime Minister Indira Gandhi.
K Raghavendra Rao, one of the founding promoters and managing director of Orchid Chemicals and Pharmaceuticals, said he may initiate talks to buy back its 14.7 per cent stake that is now with Rexcel, a unit of pharma major Ranbaxy.
The kits for converting regular two-wheelers to those for the physically challenged will be sold only by select manufacturers who will need prior approval from the government after testing for brakes and the ability to handle gradation. Only workshops approved for fitment of the kits can make the changes to the vehicle. The approval, according to this notification, will be based on competence, availability of necessary equipment, experience in the relevant field and manpower.
The Standing Committee on Emission Regulation - under the Ministry of Shipping, Road Transport & Highways - today approved addition of hydrogen to CNG (compressed natural gas) for use in vehicles. The proposal is to use CNG with 20 per cent hydrogen content.
Food and grocery retailer Subhiksha has taken the acquisition route to list its shares on the stock exchanges. The company wants to avoid an initial public offer in view of the turbulence in the capital market.
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