President Francois Hollande has met with the chief of ArcelorMittal after a minister in his government suggested that the steel giant should be ousted from France.
Industrial recovery minister Arnaud Montebourg earlier this week accused the company of lying to the government over its plan to shutter a blast furnace in the northeast town of Florange, threatening some 600 jobs.
The minister later sought to tone down his comments, telling reporters that ArcelorMittal's presence in France "was not in jeopardy."
Hollande met with CEO Lakshmi Mittal on Wednesday to discuss the issue. Hollande said the government would consider nationalizing the plant to save it. "It is part of the subjects of discussion," he said, according to the news agency Sipa.
Even as cases of financial fraud are dotting cyber space across the world, Indians seem more forthcoming in giving out their personal information for personalised services.
Footwear major Woodland, owned by the Aero Group, is looking to re-position its sub-brand 'Woods' in the luxury footwear segment, focusing primarily on women's footwear, a top company official said Friday.
Global ratings agency Standard & Poor's said its outlook on India remained negative and there was a one-in-three likelihood of a downgrade within the next 12 months.
US industrial production, an indicator of the output of mines, factories and utilities, dropped 0.5 percent in April, US Federal Reserve reported.
Two Indian IT firms are feeling the heat of the recent $ 45 million global ATM heist.
Pleading guilty to 'felony charges' relating distribution of adulterated drugs made at two India units, the US subsidiary of Ranbaxy agreed to pay USD 500 million.
from Hindustan Times
An Indian-origin board member of the influential UK India Business Council said he is rethinking the role of off-shore tax havens in the current economic climate.