Stocks fall 70% on LSE; management plays down trouble.
The 'in-principle' settlement of $3 billion is covered by existing provisions. GSK expects to make payments under a final agreement next year.
A 31-year-old staffer was arrested in the early hours of Thursday for causing a $2-billion loss to Swiss investment banking giant UBS on account of unauthorised trading at the bank's London office.
Former News International chief executive Rebekah Brooks was arrested from her London house this afternoon on charges of phone hacking and corruption. News International is News Corp's British newspaper arm.
Tata Steel's arm here said it had got $130 million as final settlement from the consortium of global steel buyers which had prematurely terminated, in May 2009, a 10-year purchase contract.
London-based Indian Journalist's Association (IJA) has sent a notice to Sahara Pariwar chairman and managing worker Subrata Roy asking his group not to prevent journalists from discharging their duties.
Essar Energy's $350-million deal to buy Shell UK's oil refinery and associated assets at Stanlow, near Ellesmere Port, Cheshire, has hit a road block. The employee union has rejected the deal in its current form due to differences over pension payout and other issues.
With the proposed commissioning of a 50-Mw tidal power project off the coast of Gujarat in 2013, India is ready to place its first "seamark" that will be a first for Asia as well.
The Tata Motors-owned Jaguar Land Rover (JLR) has signed a fresh deal with China to sell 40,000 cars in 2011.The deal, said to be worth more than 1 billion, comes on the back of an order the company had bagged in 2009 for 13,000 cars valued at that time at 850 million.
Dispute relates to premature termination of a deal to buy TCP steel
India is ready to enter the small and elite group of world chipmakers, with the first such facility in the country receiving strong support from the government of India.The state-of-the-art facility, which sources believe would cost around $3 billion to set up, could reduce India's 100 per cent reliance on imported chips from a select group of foundries in countries like Taiwan, China and Israel.
The self-proclaimed voice of the British business, CBI, has said India is both a threat and an opportunity for UK's manufacturing sector. Commenting on the government's "Growth Review Framework for Advanced Manufacturing", announced earlier this week, CBI has said UK manufacturers and government must be aware of the potential threat countries like India and China pose in the global marketplace.
A full rollout of the products will be completed by March 2011 and the UK branch of SBI will be adding three branches over the existing seven to push its retail agenda. With this, SBI will take on local heavyweights in the mortgage segment such as HSBC, Barclays, NatWest, Lloyds and RBS.
Lakshmi Mittal, India-born chairman and chief executive officer of the world's largest steel producer, ArcelorMittal, said despite the expanding steel making capacity in India, the country is set to face a massive shortfall in supply in the coming decades.
According to a senior Vedanta executive, the supply of bauxite from Gujarat should start this week. The Orissa alumina project needs about 3 million tonnes of bauxite to run at full capacity.
After months of negotiations, Tata Steel-owned Corus has tentatively agreed to sell the beleaguered Teesside Cast Products plant to Thailand's Sahaviriya Steel Industries for a price of 320 million (Rs 2,325 crore).
Tata Steel-owned Corus on Tuesday said it will invest 185 million pound (Rs 1,355 crore) in the No 4 blast furnance at Port Talbot steelworks in Wales, that will increase capacity by 400,000 tonnes a year.
The study, however, did not cover the extent to which Indians hold leadership positions.
Fresh from his visit to India in the last week of July, Britain's Business Secretary (minister) said he was hopeful a buyer would be found for Tata Steel-owned Corus' Teesside Cast Products plant in the northeast of this country.
Cognizant first, TCS third, Infosys fourth in Performance and Satisfaction study.
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