Tata Steel mulls ThyssenKrupp tie-up

German conglomerate ThyssenKrupp on Saturday (July 9) defended merger talks with Indian rival Tata Steel saying the consolidation of the sector in Europe was necessary due to the “difficult economic situation”. The Indian firm said the previous day it was in talks with its German competitor and other unnamed groups to create a large European […]

UK launches bilateral trade talks for post-Brexit deal with India

BRITAIN said it would start preliminary talks with India today about an eventual bilateral trade deal after last month’s referendum vote to leave the European Union, which has forced London to rethink its trade ties with the rest of the world. Business secretary Sajid Javid also said Britain would have as many as 300 trade […]

India’s Modi in South Africa for talks with Zuma, trade summit

INDIA’S Prime Minister Narendra Modi met South Africa’s President Jacob Zuma today to discuss boosting investment and trade, in a continent where India is playing catch-up to China. Modi in October hosted the leaders of 54 African nations, including Zuma, in the biggest India-Africa summit, promising $10 billion in credit to back a “partnership of […]

‘London’s still open to talent’

BRITISH Indian millionaire Rajesh Agarwal, named as London mayor Sadiq Khan’s deputy for business, said the city’s “openness to talent and enterprise must not change as a result of the referendum”. Agarwal, 39, grew up in India and left for London where he set up foreign exchange giant RationalFX, which had a turnover of over […]

Dismay over airport expansion delay

BRITAIN’S business community voiced concern over the latest delay on a decision on the needed airport expansion. Prime minister David Cameron had been set to make a decision on where to expand airport capacity in southeast England in the coming weeks. However, transport minister Patrick McLoughlin said last Thursday (30) that Britain will not decide […]

Three guilty in UK of rigging key Libor rate

A LONDON court on Monday (4) convicted three former Barclays bank employees for manipulating a key interest rate in the third trial over the Libor rigging scandal. Jay Merchant, Jonathan Mathew and Alex Pabon were found guilty at London’s Southwark Crown Court of rigging Libor, the benchmark interbank lending rate and a key reference for […]

Tata Steel pension plan

BRITAIN said last Thursday (26) it had started discussions on overhauling the deficit-laden British Steel Pension Scheme, a major stumbling block for potential buyers of Tata Steel’s UK assets. With serious offers now on the table for Tata Steel UK, Britain is racing against time to find a way to put the company’s British pension […]

Tata Motors’ profit boost

INDIA’S largest carmaker Tata Motors reported a three-fold increase in quarterly profits on Mon- day (30), boosted by strong sales of luxury British unit Jaguar Land Rover and a one-off insurance payment. Consolidated net profit for the three months to the end of March 2016 rose to `51.8 billion (£527 million) from `17.2 billion a […]

‘flash crash’ trader’s appeal SALE: Tata

LAWYERS for a financial trader accused of manipulating markets and causing the 2010 “Flash Crash” in US stocks have appealed in the high court against his extradition to face trial in the United States. Navinder Singh Sarao, 37, who worked out of his sub urban London home, allegedly made millions of dollars with software that […]

Indian court issues arrest warrant for Mallya

An Indian court has issued an arrest warrant for the embattled tycoon Vijay Mallya, who left the country owing more than $1 billion (£700m). The 60-year-old liquor baron, once dubbed the “King of Good Times”, left India on March 2 despite calls for his arrest and is believed to be in Britain. “The court today […]

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