Steel maker Severstal has reached an agreement with Arcelor Mittal to acquire its stake in a joint venture situated in Russia
ArcelorMittal chief Lakshmi Mittal is the richest man in British football.
Rejecting NRI steel tycoon Lakshmi Mittal's takeover bid, the chief executive of the European steel group Arcelor said the Indian billionaire had behaved improperly in initiating the £12.7 billion bid and that he presided over a company with poor sta
Amid the raging controversy over Mittal Steel's takeover bid for rival Arcelor, the European Union on Tuesday said it was against racial discrimination
ArcelorMittal, the world's largest steel maker, will benefit from a windfall of 1 billion (Rs 7,000 crore), thanks to the carbon credits issued to it under the European Trading Scheme. The Sunday Times today reported that ArcelorMittal will be the single largest beneficiary under the ETS due to its dominant presence in Europe.
Facebook has launched an 'internet.Org' initiative
The stalemate on Mittal Steel's proposed 12-million tonne Jharkhand project is likely to be sorted out at the meeting between the Jharkhand chief minister and the select board members of Mittal Steel.
The Enforcement Directorate (ED) has filed its first chargesheet in connection with a money-laundering probe linked to alleged irregularities in the Delhi Jal Board (DJB), official sources said on Saturday.
Mittal asked the Supreme Court to quash CBI court summons.
The world's largest steel maker, ArcelorMittal, on Thursday said it would acquire additional 13.8 per cent stake in its Czech arm ArcelorMittal Ostrava for $404.3 million (around Rs 1,900 crore).
A group of lawyers, including senior advocate Harish Salve and Bar Council of India chairperson Manan Kumar Mishra, has written to the Chief Justice of India, alleging that a "vested interest group" is trying to put pressure on the judiciary and defame courts "on the basis of frivolous logic and stale political agendas".
Angry villagers of the Khuti and Gumla districts in Jharkhand are protesting against the transfer of land to steel giant Arcelor Mittal for a proposed steel project.
World's largest steel producer ArcelorMittal today said it has acquired 70 per cent stake in Brazilian steel processor Manchester Tubos e Perfilados SA.
Mike Duke (left), senior vice president, Wal-Mart, and Sunil Bharti Mittal, president CII and chairman & group CEO, Bharti Enterprises, pose for a photo during the US-India Business Council luncheon in Washington, DC on Tuesday.
UK-based Mittal Steel on Wednesday said it was undertaking a technical visit to Jharkhand for studying the potential of investment in the metal and mining sector.
The telecom to look at opportunities to acquire another firm in India.
Steel baron Lakshmi Mittal has spent millions of dollars for lobbying with US lawmakers on a variety of issues, including support for action against China's unfair trading practices and export restrictions.
"It is very unlikely that we get an M&A opportunity in India as Indian entrepreneurs are doing very well and whatever expansion we are planning in India would be through greenfield projects," Lakshmi Mittal told journalists.
Global steel giant Mittal Steel Co has bought its first stake in China's steel industry, purchasing a 37 per cent share of a state-owned steel mill, a news report said on Friday.
NRI steel tycoon Lakshmi Mittal has bought his third major property for 70 million pounds in Kensington Palace Gardens, London's most expensive street.
Telecom Regulatory Authority of India, on October 15, gave its recommendation on spectrum auction for premium 900 Mhz band and 1800 Mhz band that are presently being used for 2G GSM mobile services by Airtel, Vodafone, Idea Cellular and Reliance Communications.
NRI billionaire Lakshmi Niwas Mittal, along with his son Aditya and daughter Vanisha, will see a 15 per cent decline in salaries for their roles at ArcelorMittal, as the steel maker's top brass takes a pay cut in an added effort to contain cost this fiscal.
The world's largest steel producer ArcelorMittal on Thursday said it will trim its workforce by up to 9,000 by offering a voluntary separation programme.
Mittal, now worth 10 billion pounds, saw the biggest fall in wealth terms.
ArcelorMittal is likely to have to make permanent cuts of up to 10 per cent in its steelmaking capacity as the industry reels from the impact of the worst global recession in decades, industry observers have warned.
Global steel giant Mittal Steel owned by NRI billionaire Laxmi Mittal is to cut consumption of natural gas at its Ukrainian steel plant following steep hike in gas price by Russia.
LN Mittal faces high court action over the purchase of a £70-million house in London, after a property consultant accused him of not paying her commission.
In the July-September quarter last year, the company had a net profit of $910 million, ArcelorMittal said.
It had posted $659 million profit during the third quarter last year.
NRI steel tycoon Lakshmi Mittal is likely to buy the costliest mansion in London, worth 117 million pounds ($230 million), for his son Aditya.
Vijay Bhatnagar, chief executive officer of ArcelorMittal India, said, "The move is aimed to ensure that these people, who have never handled large sums of money, do not get misguided by unscrupulous elements and end up losing their money. The objective is to figure out ways for these people, who have very little or no education and financial knowledge, to get the highest possible returns through the safest possible investments."
It is Aditya Mittal, son of steel tycoon Lakshmi Mittal and CFO of ArcelorMittal, who persuaded his father to accept a shareholding of below 51 per cent in the company post its takeover of European giant Arcelor. Before Arcelor takeover, Mittal family held an 88 per cent stake in Mittal Steel. Aditya, who visited a steel plant first at the age of eight, joined his father in early 1997, after working for less than a year as an investment banker at CSFB.
The police had filed charges in December against Bharti Airtel and Vodafone's India unit.
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