London: Tata Steel on Friday said it will cut 900 jobs in the UK and close 12 sites as part of major restructuring of European operations to make it an "all-weather" steel producer, capable of succeeding in difficult economic conditions. "The proposed changes are expected to lead to a net loss of 900 jobs in the UK, including 580 in South Wales, 155 in Yorkshire, 120 in the West Midlands...
08:20 PM, Nov 23, 2012
Perish the thought that insurance companies cover risk. Private insurance companies in India play so safe it is a wonder they allow the vehicles they ...
08:09 PM, Nov 20, 2012
Mumbai: Tata group chief Ratan Tata on Tuesday stepped down as Chairman of Tata Global Beverages with immediate effect, making way for successor Cyrus Mistry, who has also been inducted into the board of Indian Hotels Company. In two separate filings to the BSE, the two firms said the respective meetings of the Board of Directors decided the changes as per Tata's retirement plans in December 2012. "Effective November 20,...
06:34 PM, Nov 20, 2012
Mumbai: Renowned industrialist Ratan N. Tata condoled the passing away of Shiv Sena chief Bal Thackeray here. In a statement late Saturday night, Tata expressed his admiration for the 86-year-old Thackeray and described him as "a strong leader of his people". "Balasaheb Thackeray was a strong leader of his people - respected and admired by many. He was outspoken but driven by his principles," Tata said in his tribute. Expressing...
10:01 AM, Nov 18, 2012
Mumbai: Calling him a "strong leader" respected and admired by many, Tata Sons Chairman Ratan Tata on Saturday condoled the death of Shiv Sena patriarch Bal Thackeray. "Mr Balasaheb Thackeray was a strong leader of his people respected and admired by many. He was outspoken but driven by his principles," Tata Sons Chairman Ratan N Tata said in a condolence message. "My condolences go out to the members of his...
09:22 PM, Nov 17, 2012
For the festive season, Tata Motors has launched a special edition of the Nano in India. The special edition LX variant now gets alloy wheels, new decals, glove boxes for both the driver and passenger and a twin speaker audio system with MP3, USB and AUX-in. Additionally Tata claims to have improved the suspension setup, added an anti-roll bar at the front and made the car easier to steer. The...
11:59 AM, Nov 10, 2012
New Delhi: Orient-Express Hotels Ltd rejected a $1.2 billion takeover offer from Indian Hotels Co Ltd as too cheap and appointed a new chief executive, saying that it was confident of its prospects as an independent company. The hotel and restaurant owner, whose properties include the Hotel Cipriani in Venice and the '21' Club in New York, has a history of rebuffing takeover approaches. Its shares closed down 11 per...
07:21 AM, Nov 09, 2012
Mumbai: Tata Motors said its plan to roll out the CNG and diesel variants of Nano is on track and the small car is gradually gaining popularity in new segments. "Plans in this regard are not on hold. We have talked about both of those variants.... The Nano CNG is within the sight of first half of next calendar year," Tata Motors Managing Director (Domestic) Karl Slym told reporters here....
11:16 AM, Nov 08, 2012
Don't write off the Aria yet because Tata has an ace up its sleeve. We have learned from sources that a mini-Aria is being developed. The MPV is expected to be in the same league as the Quanto, Ertiga and Innova in terms of size and price. Tata Motors has realised the potential of the budding MPV market under Rs 10 lakh where the Ertigas scripting its success story. The...
10:35 AM, Nov 07, 2012
New Delhi: Infosys founder NR Narayana Murthy on Tuesday clarified that no funds were donated to the Public Cause Research Foundation, an organisation led by IAC leader Arvind Kejriwal for any political activities as reported by a section of the media. "When Kejriwal approached me in September 2012 asking for financial assistance, I declined. Hence, I have not financially supported Mr Kejriwal's political activities," stated Murthy. A released statement had...
03:58 PM, Nov 06, 2012
Bhubaneswar: Two days after CNN-IBN exposed how recovery of fines amounting to thousands of crores are due from miners who did excess mining, pressure is building on the Naveen Patnaik government in Odisha. Union minister Srikant Jena is now demanding the Chief Minister's resignation. The Odisha government has been forced to admit that loss to the state due to excess mining amounts to Rs 67,900 crore. Of this the biggest...
07:42 AM, Nov 06, 2012
New Delhi: The Tata Social Welfare Trust (TSWT) on Monday said it did not donate any money for political activities to the Arvind Kejriwal founded NGO -- Public Cause Research Foundation. It, however, said TSWT had in 2008 agreed to grant Rs 1.25 crore for a five-year period to institute National RTI Awards by the NGO but turned down request for using some of the money for other purposes. TWST...
07:40 PM, Nov 05, 2012
Washington: At a time when unemployment is a major issue in the US due to its poor economic status, Indian companies through its massive investments in America have created 50,000 jobs in the country, a top US diplomat said. "Our economic relationship is very much a two way street. Both of us are focused on attracting growth and investment to our shores. Indian owned Tata factory in Ohio puts thousands...
09:50 AM, Oct 27, 2012
Mumbai: Ratan Tata is not easing gently towards retirement. Two months before he relinquishes the reins at India's largest business house, the Tata Group's Indian Hotels Co Ltd has made an unsolicited and unexpected $1.2 billion bid for luxury hotel group Orient-Express Hotels Ltd. The offer, priced at a 40 per cent premium, may prove the final bold move for Tata, who has built the software-to-steel conglomerate into the country's...
01:31 AM, Oct 20, 2012
Mumbai: Country's largest software firm Tata Consultancy Services (TCS) on Friday reported a 49.2 per cent jump in consolidated net profit at Rs 3,434 crore for the quarter ended September 30, 2012. The company had posted a net profit of Rs 2,301 crore in the same quarter of the previous fiscal (2011-12). Revenues rose 34.3 per cent to Rs 15,621 crore in the second quarter of 2012-13 compared to Rs...
09:14 PM, Oct 19, 2012
New Delhi: Airtel, Vodafone, Videocon and Tata Teleservices are among the telecom biggies who applied on Friday to bid in the upcoming spectrum auction, but Reliance Industries and Russia's Sistema surprised by staying away. Billionaire Mukesh Ambani-run RIL, sitting on a cash-pile of Rs 79,159 crore, was widely anticipated to bid in the November auction of airwaves to complement its wireless broadband services with voice call facility. But RIL, like...
07:28 PM, Oct 19, 2012
Mumbai: Starbucks inaugurated its first store in India on Friday in a historic building in southern Mumbai as the Seattle-based coffee giant seeks growth in a market long associated with tea drinkers. "It is perhaps the most elegant, beautiful, dynamic store we've opened in our history," chief executive Howard Schultz said in an interview. After over six years of studying the local market, Starbucks is making a rapid-fire entry into...
05:55 PM, Oct 19, 2012
The updated Tata Safari is here. Tata Motors has launched the Safari Storme at a starting price of Rs 9.95 lakh, ex-Delhi. Borrowing underpinnings from the Aria, the Storme sports ladder-frame chassis and revised suspension. Under the hood, the familiar 2.2-litre common rail diesel engine still makes 140PS but the company claims that it has been reworked upon. The 5-speed gearbox has also been revised. Inside the cabin, there are...
02:52 PM, Oct 17, 2012
