UNIONS in France fighting to save 600 jobs at ArcelorMittal operations have called on the government on Tuesday (13) to take control of the sites, following Britain’s example with British Steel.
CGT union chief Sophie Binet told hundreds of workers protesting outside the company’s French offices that she would raise the matter directly with president Emmanuel Macron.
“I will deliver to him the CGT proposals to nationalise” the group’s French operations, she told the protesting workers.
Macron later on Tuesday was to debate a range of high-profile figures on television, including Binet, as he sets out plans for the final two years of his term.
ArcelorMittal announced plans last month to cut 600 jobs across the seven sites it has in France, from a total workforce in the country of around 7,100 people. It is in the process of negotiating the job reductions with unions.
The group – the second-biggest steelmaker in the world, formed from a merger of India’s Mittal Steel with European company Arcelor – has warned of industry “uncertainty” after the US imposed 25-per cent tariffs on steel and aluminium imports.
Yet the group in April posted a quarterly group net profit of $805 million (£605.2m). To shave costs, it is shifting some support jobs from Europe to India, and last year it suspended a $2 billion (£1.5bn) decarbonisation investment in France.
Lakshmi Mittal
French unions believe Macron’s government can follow the lead of its British counterpart, which last month passed a law allowing it to take control of ailing British Steel.
Italy last year also ousted ArcelorMittal as owner of its debt-ridden ex-Ilva plant, accusing the company of failing to prop up the operation after buying control in 2018. “The Italians have done it, the British have done it... so why aren’t we French able to also do it?” asked a regional CGT head, Gaetan Lecocq.
“Mittal should get out, should leave – we don’t need him,” Lococq said of Lakshmi Mittal, ArcelorMittal’s executive chairman and one of India’s richest men.
CGT chief Binard also took up a slogan chanted by the protesters, yelling: “Metal without Mittal!”
A lawmaker with the hard-left France Unbowed party, Aurelie Trouve, has put forward a bill for the nationalisation of ArcelorMittal in France.
Trouve said the company “has clearly been organising the offshoring of production for years, and now we are faced with an emergency”.
Dipesh Vaja, Raj Haria, Manish Shah, Miloni Tanna, Bharat Shah, Hatul Shah, Kamal Shah and Rajiv Shah at the 15th annual Sigma Conference in Baku, Azerbaijan
COMMUNITY pharmacy has a “vital role to play in rebuilding” the NHS, prime minister Sir Keir Starmer has said, referring to a recent announcement of record funding for the sector.
He said ministers want to capitalise on the clinical expertise of pharmacists as the Labour government is determined to fix the “broken” NHS inherited from successive Conservative administrations.
His remarks were delivered in a message to delegates at the 15th annual Sigma Conference in Baku, Azerbaijan.
“This government is developing a 10 Year Health Plan to reform the NHS to make it fit for the future,” said Starmer.
“Pharmacies play a key role in enabling the shift from hospital to community and from treatment to prevention.
“We are expanding their (community pharmacists) role by accelerating the rollout of independent prescribing to support this plan.”
An estimated 33 per cent of pharmacists are currently independent prescribers and, from September 2026, all newly qualified pharmacists will be independent prescribers on the day of registration.
As independent prescribers, pharmacists can take pressure off GPs and A&E services by assessing and diagnosing patients and, where necessary, prescribe medication for a range of clinical conditions, and vaccination programmes.
Hatul Shah
With more independent prescribers foraying into community pharmacy, NHS England plans to commission more clinical services to ensure patients have easier access to care and therefore reducing delays in treatment.
Independent prescribing builds on the Pharmacy First scheme, launched across England in January 2024; it lets patients receive treatment for seven common conditions directly from a pharmacist, without a GP appointment or prescription.
These include sinusitis, sore throat, earache, infected insect bite, impetigo, shingles and uncomplicated urinary tract infections in women.
“The Department of Health and Social Care recently announced a package that will see record investment and reform in order to support the sector,” Starmer told the Sigma conference.
“We’ve agreed with community pharmacy England to increase the community pharmacy contractual framework to £3.073 billion. This represents the largest increase in funding of any part of the NHS – more than 19 per cent across, 2024-2025 and 2025-2026 – which recognises that community pharmacy plays a vital role in our healthcare system.”
Among the 135 delegates were healthcare leaders and pharma industry representatives, who gathered in Baku to explore the theme ‘The future of the NHS through integrated leadership’.
British ambassador to Azerbaijan, Fergus Auld, said there was a huge demand for UK goods and services to support the growth of Azerbaijan’s fast developing health sector.
“With the government here very much focused on reform and investment, I’m proud to welcome all of you, but especially a fantastic business like Sigma to Azerbaijan for this important event and to support companies in expanding into this market,” said Auld.
Olivier Picard
“Sigma’s roots as a family-run business with 45 years of history in north London, growing to hundreds of employees supplying pharmacies across the UK with high quality and well-priced products is an inspiring story of growth in one of the UK’s most important sectors.”
Sigma Pharmaceuticals was founded by Dr Bharat Shah and his brothers Manish and Kamal.
Current CEO Hatul Shah said community pharmacy is becoming “a more integrated clinical and strategic partner in NHS delivery”. However, he stressed that community pharmacy needs more funding to meet the demands of delivering additional clinical services.
The pharmacy contract is still wellshort of the funding level recommended by a recent independent economic analysis of community pharmacy; it found the cost of providing NHS pharmaceutical services in England equated to £5.063bn. The report said nearly 80 per cent of pharmacies are “unsustainable” in the short term, with an estimated 800 having shut in the past four years.
“The recent contract announcement confirms the move towards a servicebased model is real. But, let’s be honest, it’s happening in a climate of flat funding, rising workload and intense workforce pressure,” said Hatul.
“Over the next few days, we’ll hear from people influencing the direction of NHS priorities, regulation and service expansion, but just as important, we’ll hear from you, those delivering care in the heart of community every day.
“This conference has always been about connection and clarity. It’s a space to reflect, to share practical ideas and to consider what comes next, not in theory, but in reality.
Fergus Auld speak on pharmacy’s evolving role
“Sigma remains committed to standing shoulder to shoulder with you, championing your voice, supporting your growth, and helping ensure that community pharmacy not only survives, but thrives.”
In his remarks, National Pharmacy Association (NPA) chair, Olivier Picard, described community pharmacy as “the most human profession that there is”.
Picard, himself the owner of four pharmacies, changed his business model from relying heavily on dispensing medicine to one that provides more services to the community it serves.
“It’s always been about the people, the service we offer, and our communities. I believe in our people and I believe in community,” he said. “When done right, pharmacy is probably the most human profession that there is.”
Picard said healthcare professionals across disciplines should work together to ensure the NHS can cater for the diverse needs of its patients.
“What I’m most proud of is the multidisciplinary approach in our pharmacies. We work with local pharmacists, nurses, paramedics to offer a wide range of NHS and private services,” he added.
“Community pharmacy has worked hard for years to establish themselves. We stayed open during the pandemic when so many others closed. Our future really lies at the heart of the NHS as an integrated part of offering NHS services.”
THE latest conflict between India and Pakistan may impact New Delhi’s efforts to pitch itself as a safe haven for foreign investors amid global economic turmoil – but not much, investors and analysts said last Wednesday (7), prior to the ceasefire between the two countries.
India’s $4 trillion (£3 tr) economy has limited direct trade with Pakistan. Even its overnight crossborder missile strikes had little immediate impact on local equity, currency and bond markets, on the view that full-fledged conflict was unlikely.
“If there is a cessation of hostilities like there should be, pragmatically and practically, the investment climate may not actually be harmed,” Ajay Marwaha, head of fixed income at Mumbai-headquartered investment house Nuvama Group, said last week.
Previous conflicts have not had a lasting impact on Indian assets, Citibank analysts wrote in a note last Wednesday.
In the last such flare-up with Pakistan, in February 2019, the Indian rupee held steady and bond yields rose 15 basis points over that month but retreated later.
In June 2020, when fighting broke out between Indian and Chinese troops in the Galwan valley, the rupee weakened one per cent, but regained ground as the two sides disengaged, Citi analysts said.
Since US president Donald Trump unveiled a slate of huge tariffs on his country’s trading partners, Indian markets have, in fact, performed well.
“The Indian market had begun to outperform on the back of the perception that there is some insulation from Trump tariffs, given the strength of domestic consumption and a clear signal of monetary loosening from the central bank,” said Sat Dhura, portfolio manager at Janus Henderson Investors.
He acknowledged that “recent events are likely to keep foreign investors away”, but added that local investment flows were likely to be sticky, helping to serve as a support to the markets.
India is expected to remain the fastest-growing major economy, with the central bank forecasting GDP growth of 6.5 per cent this financial year. It is also among the best-performing of the world’s big stock markets since early April, when Washington announced reciprocal tariffs on its trading partners.
Foreign investors, who sold Indian stocks from last October to March this year, turned buyers in April and early May, picking up about $1.5 billion (£1.12bn). They remained sellers of Indian bonds, offloading $1.7bn (£1.3bn) since the start of April.
The focus, analysts said, remains on trade deals. India sealed a long-negotiated trade agreement with the UK last Tuesday (6) and discussions are ongoing for a bilateral trade agreement with the US.
“While sentiments are likely to be jittery in the immediate term, these tensions are unlikely to derail the medium-term appeal of the Indian economy,” said Radhika Rao, senior economist at DBS Bank in Singapore.
More “substantial developments” like the justconcluded India-UK trade deal, the impending agreement with the US and the central bank’s dovish policies will dictate the path of India’s growth trade outlook, Rao added.
The impact of the conflict between India and Pakistan on any potential longer-term investment “may not be very much”, said Subhash Chandra Garg, a former top government bureaucrat.
The areas bordering Pakistan are in the north and west of India but most foreign investment for manufacturing facilities is centred in southern and central India, Garg noted. (Reuters)
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The FCA said the money will be returned to investors as soon as possible. (Photo: Reuters)
THE Financial Conduct Authority (FCA) has secured confiscation orders totalling £305,284 from Raheel Mirza, Cameron Vickers and Opeyemi Solaja for their roles in an investment fraud. The orders cover all their remaining assets.
The confiscation proceedings against a fourth defendant, Reuben Akpojaro, have been adjourned.
The FCA said the money will be returned to investors as soon as possible. Failure to pay could lead to imprisonment.
Between June 2016 and January 2020, the defendants cold-called individuals and persuaded them to invest in a shell company.
They claimed to trade client money in binary options, but the funds were used to fund their lifestyles.
In 2023, the four were convicted and sentenced to a combined 24 and a half years.
Steve Smart, executive director, Enforcement and Market Oversight at the FCA, said: “We are committed to fighting financial crime, including denying criminals their ill-gotten gains. We’ve already successfully prosecuted these individuals for their part in a scam that conned 120 people out of their money. We’re now seeking to recover as much as we can for victims.”
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Peter Glover held several roles, including Group Superintendent Pharmacist, and most recently worked in a Professional Services Advisory role.
PETER GLOVER, a long-standing member of the Day Lewis Group, died on 10 May 2025. He was with the company for 37 years, having joined in June 1987 as a pharmacist.
He held several roles, including Group Superintendent Pharmacist, and most recently worked in a Professional Services Advisory role. He was part of the senior management team for decades.
JC Patel, Co-Founder of Day Lewis Group, said: “Peter was much loved and well-known across the pharmacy industry. His contributions to the field were significant and his legacy will be remembered by all who had the privilege of working with him. He leaves behind a lasting impact on Day Lewis and the wider pharmacy community.”
The company extended condolences to his family and friends.
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Rachel Reeves welcomed the figures, saying they 'show the strength and potential of the UK economy,' while adding that 'there is more to do'. (Photo: Getty Images)
THE UK economy grew more than expected in the first quarter of the year, according to official data published on Thursday. The figures cover the period before business tax increases and US President Donald Trump's new tariffs came into effect.
Gross domestic product rose by 0.7 per cent from January to March, following a small increase in the final quarter of last year, the Office for National Statistics (ONS) said.
Economists had forecast a rise of 0.6 per cent.
The data comes as a boost for prime minister Keir Starmer and the Labour government, which has faced slow growth since taking office in July.
UK chancellor Rachel Reeves welcomed the figures, saying they "show the strength and potential of the UK economy," while adding that "there is more to do".
However, analysts warned that the growth may not continue.
Thursday's data is from before the business tax hike announced in the Labour government’s first budget last October, which came into effect in April.
It also predates the baseline 10 per cent tariff that Trump imposed on the UK and other countries last month.
"This might be as good as it gets for the year," said Paul Dales, chief UK economist at Capital Economics.
‘Short lived’
The growth is "set to be short lived as tariffs take effect”, said Yael Selfin, chief economist at KPMG UK.
She said that despite the UK-US trade agreement announced last week, “tariffs on UK exports to the US remain significantly higher than what they were prior to April”.
Under the agreement, tariffs were cut on British cars and removed on steel and aluminium. In return, the UK agreed to open markets to US beef and other agricultural products.
But the 10 per cent baseline tariff remains.
Selfin added that "the indirect impact of trade tensions between the US and the EU will further constrain demand for UK exports".
ONS director of economic statistics Liz McKeown said, "The economy grew strongly in the first quarter of the year, largely driven by services, though production also grew significantly, after a period of decline."
Analysts said production growth may be due to manufacturers rushing to complete exports ahead of the US tariff changes.
Separate trade data released on Thursday showed UK goods exports to the US rose for the fourth straight month in March.
"This pattern of increasing exports could be a sign of changing trader behaviour ahead of tariff introduction," the ONS said.
"Any residual support for manufacturing from front-running will fade from here on, pointing to activity remaining weak for the foreseeable future," said economists at Pantheon Macroeconomics.
The ONS said monthly GDP grew by 0.2 per cent in March, after rising 0.5 per cent in February.
The data follows the Bank of England’s decision last week to cut its key interest rate by a quarter point to 4.25 per cent, as US tariffs begin to affect growth prospects.
The Bank raised its forecast for UK GDP growth in 2025 to 1 per cent, from an earlier estimate of 0.75 per cent, but lowered its projection for 2026 to 1.25 per cent, down from 1.5 per cent.
Earlier this week, data showed UK unemployment in the first quarter had reached its highest level since 2021.