Nirmala Sitharaman announced that Cabinet had approved strategic disinvestment in five PSUs— Bharat Petroleum Corporation Limited, Shipping Corp of India, Container Corporation of India (Concor), THDCIL and NEEPCO— while retaining management control.
Tata Steel has confirmed cuts of up to 3,000 jobs across its European operations as part of a wider restructuring and cost-cutting strategy to counter stagnant steel demand in Europe and global overcapacity.
ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (‘ESIL') has been unconditionally approved by the Supreme Court of India and the approval of AMIPL's resolution plan is the final procedural step in ESIL's corporate insolvency process, the company said in a statement.
Vodafone Idea last week reported consolidated loss of Rs 50,921 crore - highest ever loss posted by any Indian corporate - for the second quarter ended September 30, on account of liability arising out of the Supreme Court order in the adjusted gross revenue case.
The companies aim for a definitive agreement by next month in a transaction that will see SoftBank Corp and Naver form a 50:50 venture that will control Z Holdings, which will in turn operate Line and Yahoo.
FedEx’s financial filings show that the law has so far saved it at least $1.6 billion. Its financial filings show it owed no taxes in the 2018 fiscal year overall. Company officials said FedEx paid $2 billion in total federal income taxes over the past 10 years.