ArcelorMittal on Thursday reported a net loss of $728 million for the first quarter ended March 31
Steel tycoon Lakshmi Mittal has lost the world record for the most expensive home purchase to an anonymous Russian billionaire, who has forked out $750 million for a French villa, built by a Belgian king and once frequented by the likes of Frank Sinatra and Ronald Reagan.
China's largest steel producer, Shanghai Baosteel, has set its eyes on Baotou Iron & Steel Group after global steel baron, Lakshmi Mittal's bid for a 50 per cent stake in the Chinese company faltered.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
They have lost more than $13 billion from their combined wealth, but still the two Ambani brothers have moved higher on Forbes' latest list of the world's ten richest CEOs, while Sunil Mittal has joined the league and Lakshmi Mittal has slipped two places.
India is trying hard to erase Indonesia's wariness about New Delhi, building security cooperation in the Indian Ocean and Pacific Ocean. If Indonesia decides to buy the Brahmos missile, it would further strengthen relations between the world's most populous nation and the most populous Islamic country.
While mostly corporates, including established names and little-known ones, went for the top-denomination bonds, there were also several individuals who bought multiple such bonds.
A consortium of Indian and Abu Dhabi investors, which is believed to include steel czar Lakshmi Mittal, is planning to bid for UK property company British Land, says a media report.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
Business tycoons at the Ambani's pre-wedding celebrations at Jamnagar, Gujarat.
If you exclusively look at business personalities, Ambani ranks 20 and Mittal ranks 28.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
Lakshmi N Mittal would become president of the new steel giant Arcelor-Mittal, while Arcelor's current Chairman Joseph Kinsch would continue to be in the position till his retirement.
Forbes has named Vodafone CEO Arun Sarin and steel baron Lakshmi Mittal among Europe's Power25: the most powerful people in business.
Prime Minister Manmohan Singh and Congress president Sonia Gandhi have been named among the top 20 most powerful persons in the world by Forbes magazine in its annual power rankings which placed United States President Barack Obama as number one for a second year in a row.
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Mittal Steel, owned by NRI steel tycoon Lakshmi Mittal, has said that opposition to its controversial takeover bid of Luxembourg-based Arcelor is softening and the whole deal could be finalised by the end of June.
Former Indian American Goldman Sachs director Rajat Gupta is facing trial in one of the most high profile cases of insider trading in the US that will likely see investment guru Warren Buffet and Arcelor Mittal Chairman Lakshmi Mittal as potential witnesses.
Arun Sarin-led British mobile giant Vodafone has been named as the world's fifth most accountable firm by Fortune Magazine in a list of the world's 100 Most Accountable Companies 2007. The list has Mittal Steel, headed by NRI billionaire Lakhsmi Mittal, at 96th position.
Tata Group ranks 13th, Reliance Industries 15th and Infosys 26th. Tata Group and Reliance Industries have been ranked ahead of American industrial conglomerate General Electric (17), German car manufacturer BMW (20), Japanese auto firm Honda Motor (22) and telecom major AT&T (23), among others. However, while the Tata Group slipped in ranking from the sixth place in 2008, Reliance Industries has improved on its previous year's 19th rank. Infosys was not in the list in 2008.
L N Mittal, Mukesh and Anil Ambani, and Azim Premji are among the 8 Indians who figure in the Forbes magazine's list of 100 richest people in the world.
ArcelorMittal has sold part of its stake in a Chinese steelmaker it wants to control so it can meet the minimum free float requirement in Hong Kong where the shares trade.
With Satya Nadella becoming CEO at software giant Microsoft, 10 Indian-origin persons holding top posts at global corporations manage businesses worth about $350 billion.
The house has six stories of underground parking, three helicopter pads, and reportedly requires a staff of 600 to keep it running.
Samajwadi Party General Secretary Amar Singh contributed anywhere from $1 to $5 million to the Clinton Foundation, and so did industrialist Lakshmi Mittal, chief executive of ArcelorMittal, according to information released by the non-profit organisation set up by the former President Bill Clinton to fund a variety of charitable activities around the world, including combating the scourge of HIV/AIDS.
Indian business honchos Anand Mahindra and Lakshmi Mittal are among the world's 50 greatest leaders, according to Fortune magazine.
Radhakishan S Damani, investor and promoter of the D-Mart supermarket chain, has broken into the elite club of the top 100 global billionaires. Damani, who grew up in a single-room apartment in Mumbai, is now ranked 98th on the Bloomberg Billionaires Index with $19.2 billion as his net worth. The index is a daily ranking of the world's richest people. The other Indians on the top 100 rich list ahead of Damani are Mukesh Ambani, Gautam Adani, Azim Premji, Shiv Nadar, and Lakshmi Mittal.
Take the rediff business quiz and find out how much you know about the world's third richest man and his company.
Global Steel owns 70 per cent stakes in iron ore mine in Brazil and two coal mines in Columbia and Mozambique. The company is setting up three special purpose vehicles for isolating financial and regulatory risks. Ispat will purchase the stakes in these SPVs, which are held by Global Steel. The iron ore mine has an estimated reserve of 500 million tonne while the coal mines hold reserves of 120 million tonne.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
The LNM group, owned by Lakshmi Mittal, will build its first steel production plant in China with an estimated investment of $100 million and plans to set up marketing, purchasing and manufacturing centres to tap the booming market.
'We believe that the Clintons have emotional ties and relationship with India and it is time to bring a friend who knows about India and who knows about the Indian-American and that is why we support Hillary for President'
Keith Vaz, the Indian-origin Labour member of Parliament, has emerged as Britain's most influential Asian in a list of 101 powerful people from the region, which includes the likes of steel tycoon Lakshmi Mittal, the billionaire Hinduja Brothers and leading NRI industrialist Lord Swraj Paul.
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