The announcement evoked a sharp response from the UK and Ireland's largest trade union, Unite, which said it would fight for every job and demanded that there would be no compulsory redundancies from Tata Steel.
Leasing activities of office and retail spaces would not be affected much.
Europe is the second largest market for Indian IT-BPM industry
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.'
The referendum will have long-term implications for Indian companies, which earn a substantial portion of revenue from the region.
Among the Sensex stocks, Larsen & Toubro rose the most by 3.96 per cent after the company announced a major project win in the Middle East. HDFC, HDFC Bank, Sun Pharma, ITC, HUL, Titan, TCS, HCL Tech, Asian Paints, Bajaj Finance, Infosys and Tata Steel were among the major gainers.
Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
A shipment containing several kilograms of uranium, which could potentially be used for making a dirty bomb was seized at United Kingdom's Heathrow Airport in a cargo consignment originating in Pakistan, reported British tabloid The Sun.
Mutual funds (MFs) turned net sellers of equities in April amid a run up in stock prices on sustained inflows from foreign portfolio investors (FPI). The benchmark indices, Sensex and Nifty50, logged their biggest monthly advance since November last year, gaining 3.6 per cent and 4.1 per cent last month. Data from the Securities and Exchange Board of India (Sebi) shows that MFs sold equities worth over Rs 5,100 crore in April, the highest since February 2021.
What can malls do to entice customers? Brand coach Ambi Parameswaran has a few suggestions.
Former England captain Michael Vaughan rated Australia's World Cup triumph as the best in the tournament's history after they upstaged a rampaging India in front of a vociferous crowd.
France has now over-taken the UK as India's most visited European nation
Within three trading sessions in May, foreign portfolio investors (FPIs) have pumped in Rs 9,461 crore into Indian equities. This follows net inflows worth Rs 7,936 crore in March, and Rs 11,631 crore in April. The trend, analysts said, could continue going ahead as the US Federal Reserve may soon halt its interest rate hike cycle, which will strengthen foreign fund inflows into emerging markets, including India.
Founded by James Lansdowne Norton in Birmingham (in 1898), Norton Motorcycles is among the most popular British motorcycle brands of all time.
'In my time, I didn't have that kind of guidance. 'I asked to speak to the international pageant winners before I went and nobody spoke with me. 'It doesn't take away from your title when you help others. It just brings more accolades back to our country.'
'From the start, we have sought to put in the right measures at the right time. We will not hesitate to go further if that is what the scientific and medical advice tells us we must do'
'We have not seen too many large deals compared to last quarter.'
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees' Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority's recently released Handbook of National Pension System Statistics 2023.
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
The bank remains on high alert to intervene if markets freeze.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
In the last three years, 20 gardens have changed hands, and 90 per cent of the buyers are from non-tea background.
The UK India Business Council expects more emphasis to be put on improving bilateral economic ties.
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
While the Investor of the Year award went to Tata Sons, the Business Partnership of the Year went to DLF Laing O Rourke, the Innovation of the year was HRS Process Systems and Benoy was the New Market Entrant of the Year.
On the BSE, 2,243 scrips declined, while 224 advanced and 106 remained unchanged.
The MPs voted in favour of the Queen's Speech by 323 votes to 309 with a majority of 14.
'With the current situation in the global job market, students come back with an added burden of educational loans.'
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
'Everybody thought I was crazy to quit my job and jump into entrepreneurship.'
Fans wearing the India jersey, carrying the Indian flag, laughing, joking and anticipating an India win are moving towards the Narendra Modi stadium. There are families, friends, children, adults, teenagers, middle aged and the senior citizen who have all painted the city blue.
In 2009, Ranbaxy had to recall about 4,000 cartons of Sotret Isotretinoin through its US-based subsidiary.
Exports to India's key markets - the US, the United Arab Emirates, China, Singapore, Bangladesh and Germany - witnessed a sharp decline, resulting in a 12.69 per cent contraction in outbound shipments during the first month of the current financial year, commerce department data showed. India's biggest export market - the US - with 17 per cent share witnessed 17.16 per cent contraction at $5.9 billion in April. This was followed by the United Arab Emirates (UAE) that saw 22.09 per cent decline at $2.23 billion exports.
Wind power major Suzlon Energy on Friday said it was looking at exploring new markets like Greece, UK, Taiwan and Philippines besides strengthening its operations in China.
Sharma was the president of the conference, the first since the Paris Agreement of COP21 that expected parties to make enhanced commitments towards mitigating climate change.
'On the other side, we have an ideology of hatred and violence, a disrespectful ideology that attacks people because of their ideas. And you must have noticed one thing that this is in the nature of BJP and the RSS'
Besides an aggressive marketing strategy for India, FritoLay is also taking Kurkure overseas by sharing manufacturing technology with its counterparts in the UK, the US and Pakistan.
The UK government has promised to put in place measures worth hundreds of millions of pounds to support any rescue deal for the Indian group's UK business.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
UK's civil nuclear energy companies are looking for tie-ups with Indian counterparts.
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