UK OPERATIONS
Union calls off strike action at Tata Steel UK plant
Tata Steel UK has halted its planned industrial action against a steelworkers' union, Unite, over its Port Talbot plant in Wales. The union had planned to strike from July 8, leading to Tata challenging the balloting process and bringing forward a planned closure of blast furnaces. Tata Steel UK welcomed Unite's decision against a strike and shelved early closure plans. The company will now focus on future investments and aspirations for the business, not renegotiation of the heavy-end closure or enhanced employment support terms.
Tata threatens to shut steelworks early ahead of strike
Tata Steel UK has threatened to close its two blast furnaces in Port Talbot in south Wales earlier than planned due to an upcoming strike, sparking concern among politicians before next week's general election. "The Unite campaign is... about securing the long-term future of steel making in this country for thousands of workers in Port Talbot and south Wales," said Unite general secretary Sharon Graham.
Thousands of doctors go on strike in England a week before the UK general election
The five-day strike by junior doctors - those in the early years of their careers - shines a spotlight on the troubles besetting the chronically underfunded National Health Service, Britain's state-funded public health system, a topic that is a a top concern for voters going to the polls on July 4.
Doordash held talks with UK's Deliveroo on takeover
Doordash showed interest in acquiring Deliveroo, but talks ceased over valuation. Deliveroo's shares closed at 127.5 pence, valuing the company at 2.1 billion pounds. Amazon, DST Global, and CEO Will Shu are key shareholders. Analysts noted the potential for cross-border M&A in the food delivery sector. Doordash's CEO, Tony Xu, aimed for global diversification through acquisitions.
Flying to Europe? This major airline is latest to introduce an environmental cost surcharge
Lufthansa has introduced an environmental charge on fares, aligning with EU regulations to reduce emissions. Surcharge of up to 72 euros to be applied on flights, offsetting costs of sustainable aviation fuel.
Love Island UK season 11 free streaming, download: How to watch Love Island UK 2024 in USA?
Love Island UK season 11 can be watched in the US. We have all details pertaining to streaming of Love Island UK 2024.
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US and allies clash with Tehran and Moscow over Iranian nuclear programme at UN Security Council
The United States and key European allies clashed with Iran and Russia over Tehran's expanding nuclear program The US vowed to prevent a nuclear-armed Iran in a UN Security Council meeting. The US and its allies accused Iran of escalating nuclear activities beyond limits agreed upon in a 2015 deal. Iran and Russia defended Tehran's nuclear program oversight and blamed the US for sanctions.
UK's Nigel Farage says the West provoked Putin's invasion of Ukraine
The remarks, made in an interview with the BBC aired late on Friday, drew strong criticism across the British political spectrum ahead of a July 4 election in which Farage's party is predicted to win millions of votes. Farage said he stood by comments made shortly after Moscow's February 2022 invasion of Ukraine, when he posted on social media that the move was a "consequence of EU and NATO expansion". He said he had been predicting a war in Ukraine as early as 2014.
Tata Steel may shut blast furnaces in UK earlier amid strike by workers
Tata Steel plans to shut down its blast furnaces in the UK earlier than scheduled due to a potential indefinite strike by workers protesting against job losses. The company cites operational instability and unsustainable losses as reasons for the closures. The strike, set to begin on July 8, involves around 1,500 workers and aims to halt Tata's plans. Tata Steel is transitioning to an electric arc furnace to reduce carbon emissions, with a significant investment and support for impacted employees.
Tata Steel workers in UK call first strikes in 40 years
Around 1,500 Tata Steel workers at Port Talbot and Llanwern in Wales will launch an "all-out indefinite strike" starting July 8 in protest against Tata's plans to cut 2,800 jobs and shut down blast furnaces. This marks the first major strike action by UK steelworkers in over 40 years, following earlier measures like working to rule and an overtime ban. Unite the Union, representing the workers, emphasized that the strike aims to resist Tata's restructuring plans, asserting that it jeopardizes jobs and the future of the Welsh steel industry.
Outbreak of World War 3 is less than 24 hours away; here is how you can protect yourself
An Indian astrologer has predicted the outbreak of World War 3 as tensions rise across the world. There is a survival kit for the residents of Britain.
Paris stock market no longer Europe's biggest, top French firms lost over 10%
France lost its spot as Europe's biggest equity market after President Macron's snap election announcement caused a $258 billion market cap loss.
UK's Labour pledges long term, strategic approach to China relations
On Thursday, Britain's opposition Labour Party announced its intention to adopt a comprehensive and strategic approach in managing relations with China if it emerges victorious in the upcoming national election scheduled for July.
Maharashtra, Karnataka, Delhi top UK's investment flows from India: Report
Maharashtra, Karnataka, and Delhi led in bringing foreign direct investment (FDI) to the UK, per a CII and Indian High Commission joint report. The report highlighted the contributions of Indian companies in various sectors, showcasing their positive impact on the UK economy, job creation, and cultural diversity. Additionally, it notes the significant economic ties between India and the UK, with India being the UK's second-largest source market.
Air India announces launch of non-stop services between Bengaluru and London Gatwick from August
With Bengaluru becoming the fifth Indian city to be connected to the UK's second-largest airport, Air India has announced that it will start non-stop services between Bengaluru's Kempegowda International Airport and London Gatwick (LGW), starting August 18 this year.
How an Israeli firm tried to build anti-BJP narrative during polls
OpenAI claims to have disrupted an AI-based covert operation launched by an Israeli firm that allegedly peddled anti-BJP agenda. In 2021, the BJP government drew flak after Israeli spyware Pegasus was allegedly used to snoop on journalists, Opposition leaders and rights activists
UK announces plans to introduce new caps on work & family visas
UK's ruling Conservative party plans to implement new annual caps on work and family visas to curb rising net migration levels ahead of the upcoming July election.
2,500 job cuts! Layoffs in Tata Steel's UK operations inevitable, says CEO Narendran
Tata Steel's transition to low-emission electric arc furnace process at its UK operations will lead to the loss of around 2,500 jobs. The move, part of a decarbonization plan, aims to reduce production costs and cut CO2 emissions. Worker unions are protesting against the job cuts, which are seen as inevitable.
UK workers' union says will proceed with industrial action at Tata Steel plants
Unite the Union said on Thursday that its workers will begin "working to rule" as well as taking part in a continuous overtime ban from June 18 to "severely disrupt and delay" the company's operations and order book unless the company rows back on the closure. It is calling for the Indian steel major to halt its plans until the July 4 General Election, when it expects the UK's Conservative Party led government will make way for the Opposition Labour Party.
Tata Steel's UK business likely to make operating profit in H2, says CEO T V Narendran
"We don't expect demand in UK to shrink beyond what it is. We will be at least $150 per tonne cheaper in the cost of production. This changes our cost position, and we will not start losing money in the UK every time steel prices drop," Narendran said in an interview with ET.
Tata Steel net falls 65% to ₹555 cr on lower India prices
The firm's consolidated revenue during the quarter fell around 7% on year to ₹58,678 crore, while its earnings before interest, tax, depreciation and amortisation (Ebitda) declined more than 8% at ₹6,631 crore. Operations in India, which are the company's mainstay and account for almost 70% of the volumes, saw a marginal decline in sales and operating profit for the quarter.
Cochin Shipyard gets EUR 60 million order for hybrid SOVs from UK operator
CSL said the hybrid SOVs are the workhorse of the growing, highly specialised renewables segment, in which it is actively looking forward with their proven track-record in the offshore support vessels.
UK Tories pledge to bring back national service for 18-year-olds
The Conservatives, in power since 2010, estimate the scheme will cost around £2.5 billion ($3.2 billion) a year, with the first teenagers taking part in September 2025. Despite Sunak saying it would be mandatory, his interior minister James Cleverly told Sky News on Sunday that there would be no criminal sanctions for any young person who refuses to take part.
The next UK Prime Minister faces a long wish list from CEOs
As the UK gears up for a crucial general election on July 4, Conservative PM Rishi Sunak and Labour leader Starmer vie for business support. Executives from various sectors weigh in on key issues, such as London's equity market reforms, workers' rights, apprenticeships, tax equality, housing shortages, fintech regulation, and retail property taxes, shaping the debate.
Concerned about China providing inputs to Russia's defence industrial base: US
US National Security Advisor Jake Sullivan expressed concerns about China's support to Russia's defense industry, emphasizing the Biden administration's concerted efforts with allies to address this issue. Responding to the UK Defence Minister's claim that China is providing lethal aid to Russia, Sullivan clarified that the US has not observed direct weapon transfers but is worried about China's contributions to Russia's defense production. British Defence Minister Grant Shapps accused China of supplying combat equipment to Russia, noting increased trade between the two nations.
Tata Steel signs grid agreement to make its UK project green
"This will help us replace our aging and carbon-intensive blast furnaces with a state-of-the-art electric arc furnace capable of producing our customers' most demanding steel products," said Rajesh Nair, chief executive of Tata Steel UK, in a website statement.
UK confirms it will build six new warships for Royal Marines
Grant Shapps orders six new warships for Royal Marines, boosting British military capabilities. The Multi Role Support Ships are part of the defense spending increase to 2.5% of GDP by 2030, reflecting a new era of British shipbuilding.
The Ministry of Ungentlemanly Warfare: Where to watch the action film online in US and UK?
Guy Ritchie's nexus with action films and thrillers seems everlasting and after savoring immense success with The Gentlemen, The Ministry of Ungentlemanly Warfare by the prolific director becomes a must-watch for fans of the spy action genre.
Tata Chemicals Q4 Results: Co in red after 9 years on one-time charge, poor soda ash demand
India's Tata Chemicals reported its first quarterly loss in nine years on Monday, hurt by a one-time charge incurred in its UK operations along with lower prices and demand of soda ash.
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