Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
Quick service restaurant Pizza Hut on Wednesday said it has partnered with Hindustan Unilever to add the FMCG firm's Kwality Wall's ice cream and desserts to its dine-in as well as the delivery and takeaway menu. With this partnership, Pizza Hut expects to increase its average order value by 10 per cent for orders that have Kwality Wall's ice cream and desserts, a joint statement said.
Shell India on Tuesday described as "absurd" the demand for $1 billion in taxes on a $160 million equity infusion done by the Anglo-Dutch oil major four years ago, saying it tantamounted to tax on FDI.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
Like corporations all round the world and of all nationalities, Indian businesses understand the urgent need to acquire global scale and efficiencies to succeed.
Indian conglomerate Tata Group's $12 billion takeover of Anglo-Dutch giant Corus Group Plc reached its culmination with the deal coming into effect from making Tata Steel the world's fifth largest steel firm.
Leading FMCG firm HUL on Thursday said it has switched to green fuel alternatives such as biomass and biodiesel and has eliminated the usage of coal across its operations. The company has collaborated with biomass suppliers and local farmers to ensure sustainable supply of green fuel and has made the necessary changes for the renewable transition in its coal-fired boilers, said an HUL statement. Besides, the shift from coal to renewable energy sources has also resulted in savings for the company, it added.
Analysts on average were expecting a profit of Rs 1,043 crore or Rs 10.43 billion, according to Thomson Reuters data.
HUL's board approved the royalty of 3.15 per cent of turnover effective from February 2013.
Net sales were 12.48 per cent at Rs 6,367.14 crore.
Tata Steel's Anglo-Dutch Corus unit was starting consultations on job cuts due to the continued deterioration in market conditions and falling demand.
India is crucial for Nokia's attempt to hold on to global market share.
There will be more incentive for the parent company to share technology with the Indian unit.
Authorities claimed that a share sale by the company to its overseas parent in 2009 was undervalued by about Rs 15,200 crore.
Unilever, which derives 52-53 per cent of its $70-billion revenues from emerging markets, said it expected economic pressures to continue in 2013.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
The company is building floating LNG terminal in joint venture Reliance Power.
Anglo-Dutch FMCG giant Unilever Plc's $ 5.4 billion open offer to increase stake in its Indian arm Hindustan Unilever Limited (HUL) to up to 75 per cent commenced on Friday.
HUL global CEO, Paul Polman, on his third visit to India in little over a year, said his company's 170,000 employees across the globe and he were fast learning "how to climb mountains, as the market place was no longer a smooth surface".
More than a hundred years ago, Hindustan Unilever launched a soap called Lifebuoy in India.
The acquisition is scheduled to take effect from April 2
Essar Steel is likely to join the race for Brazilian miner and steelmaker CSN's Nacionale Minerios (Namisa), a fully integrated iron ore company. Sources close to the development said Goldman Sachs has approached Essar with the acquisition proposal and the company was considering it.
In an interview published in the Sunday Times on Sunday, Ratan Tata admitted with hindsight that he might have gone too far too fast, but that nobody saw the economic recession coming.
To keep operations at TCP alive, Corus has been channelising internal orders to the TCP which was also getting some demand from outside.
Tata Steel and Anil Ambani-led& Reliance Communications raised $1.375 billion through overseas borrowings and convertible bonds in September, according to data released by the Reserve Bank of India. Tata Steel, which early this year acquired Anglo-Dutch firm Corus to become the sixth-largest maker of the alloy, raised $875 million for overseas acquisition through foreign currency convertible bonds.
The 5,000 jobs would be cut from the Anglo-Dutch oil and gas group as part of a restructuring that began earlier this year.
For years, critics termed Tata's vehicle business as a millstone around the neck. But Group chairman Ratan Tata on Wednesday flattened their theory by taking the automobile venture to a new plane with the acquisition of British luxury brands Jaguar and Land Rover.
Though there are various provisions under the Indian income tax laws which encourage M&A activities in India, some of these provisions need to be revisited to further step up the momentum. Further, the scope of some of the concessions needs to be extended to all sectors.
To help UB raise above half the buyout cost of Rs 4,620 cr.
Tata Steel's greenfield projects -- in Orissa, Chhattisgarh and Jharkhand -- were significant for Corus, which incurred high cost on raw materials, said sources close to Tata Steel.
The shadow of the European Commission's anti-trust proceedings is hanging over Companhia Siderurgica Nacional's bid for Anglo-Dutch steelmaker Corus.
Tata Steel, the world's sixth-largest steel maker, is looking to acquire Brazilian iron ore assets of the United Kingdom-based London Mining, which will help ensure raw material supply for its Anglo-Dutch subsidiary, Corus. The valuation of the asset is yet to be completed, but analysts said that it would be in the range of $2 billion.
The company, in a notice to shareholders, said it would come out with a rights issue of ordinary shares and cumulative convertible preference shares, besides issue of securities in the domestic or international markets.
Six months after acquiring Anglo-Dutch steel giant Corus, Tata Steel has put the foreign company's aluminium business on the block.
After Tata Steel's successful bid to acquire much-larger Anglo-Dutch steelmaker Corus, the trend of small companies acquiring larger firms could soon find its way into the Indian IT space, a new study shows.
Analysts tracking Corus said the steel company's workers had witnessed nearly 8,000 job cuts in the last eight years and were, therefore, apprehensive of Tata Steel's intentions.
Less than a year after acquiring Anglo-Dutch steelmaker Corus, Tata Group appears close to taking over the reins of Ford's British marques - Land Rover and Jaguar, for which it is believed to have submitted a detailed offer of more than $2 billion. The home-grown business conglomerate is understood to be leading the race for the two brands at close of second-round of bidding on Friday, media reports said.
The European Commission on Friday approved Tata Steel's proposed acquisition of Anglo-Dutch steelmaker Corus.
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