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Tata Steel job losses in focus as Keir Starmer-led UK govt takes over, union suspends strike
Livemint
·
1y ago
Medial
The UK government is focused on preventing job losses at Tata Steel, as discussions are underway between the government and the company. Up to 2,800 jobs are at risk as Tata Steel plans to close two carbon-intensive blast furnaces. The government is also supporting the company's transition to lower-carbon technologies. Workers at Tata Steel suspended a strike they had planned after the company warned that the furnaces would close if the strike proceeded. The newly elected Labour Party government aims to sign a £500 million support package to build less carbon-intensive electric-arc furnaces.
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Delighted to seal historic India-UK trade deal with UK PM Starmer: PM Modi
Business Today
·
3m ago
Medial
PM Modi expressed his delight in concluding a historic Free Trade Agreement with UK PM Keir Starmer. Along with a Double Contribution Convention, these agreements aim to enhance the Comprehensive Strategic Partnership between India and the UK. The deals are expected to boost trade, investment, growth, job creation, and innovation, further strengthening the economic ties between the two nations. PM Modi looks forward to welcoming PM Starmer to India soon.
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Tata Steel CEO says job cuts in Britain ‘least bad option,’ will continue talks
Livemint
·
1y ago
Medial
Tata Steel CEO, TV Narendran, has stated that the planned job cuts in the UK were the "least bad option" for the company. Tata Steel intends to close its two blast furnaces in Britain, resulting in up to 2,800 job losses. Despite the plan being rejected by trade unions, Narendran hopes to reach a conclusion through continued talks. He emphasized that the company is not profitable and restructuring is necessary. Tata Steel is also looking into India's ongoing auction of critical minerals and expects strong steel demand in the country.
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UK PM Starmer to meet Apple CEO to discuss investment
Economic Times
·
8m ago
Medial
British Prime Minister Keir Starmer is set to meet with Apple CEO Tim Cook to discuss the company's significant investments in the UK. Apple has invested £18 billion ($23 billion) in the country over the past five years, making them a major investor. Prime Minister Starmer is focused on boosting technology investments, and Apple's contribution aligns with this priority. Cook will also meet with King Charles on Thursday to tour Apple's UK headquarters in Battersea, where it plans to support job growth and technology advancements.
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Tata Steel reaches agreement with UK trade unions
Livemint
·
1y ago
Medial
Tata Steel has reached an agreement with trade unions in the UK, making way for a £1.25 billion electric arc furnace project at its Port Talbot plant. The project will replace two aged blast furnaces and may lead to 2,800 job losses, though it will also preserve around 5,000 jobs that would have been lost if the plant had been shut down. The UK government has promised £500 million in grants to support the transition. Tata Steel plans to begin construction on the project by August 2025.
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Tata Steel expects Netherlands govt support package to be larger than UK's, says MD Narendran
Money Control
·
1y ago
Medial
Tata Steel is seeking a larger support package from the Netherlands government compared to the aid offered by the UK government for restructuring its operations in the Netherlands. The discussions between Tata Steel and the Dutch government include the replacement of blast furnaces with electric arc furnaces and other sustainable measures to comply with stricter emission standards set by the EU. Tata Steel expects to conclude negotiations with the Dutch government by the end of 2024. The company has already agreed to a £1.25 billion restructuring deal with the UK government for its UK operations.
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What is the UK 'grooming gangs' scandal seized on by Elon Musk?
Economic Times
·
7m ago
Medial
Elon Musk has recently criticized UK Labour Party leader Keir Starmer, accusing him of enabling "grooming gangs," despite inaccuracies in Musk's claims. The grooming gangs scandal refers to child sex abuse cases by predominantly British Pakistani men, primarily in Rotherham. Investigations revealed failures by authorities. Starmer, as former chief prosecutor, had overseen prosecutions, earning praise for his handling. Despite multiple inquiries, organized child exploitation remains a concern in the UK. Musk's comments have reignited debate.
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Amazon to invest £40 billion in UK over 3 years: govt
Economic Times
·
1m ago
Medial
Amazon plans to invest £40 billion in the UK over three years, enhancing Prime Minister Keir Starmer's economic strategy. The investment includes constructing four distribution centers creating 4,000 jobs, renovating Bray Film Studios, and expanding AI and cloud computing capabilities. This move aligns with the UK government's "Modern Industrial Strategy" to boost high-growth industries. Amazon, employing over 75,000 across the UK, underscores its commitment to innovation and job creation in the region.
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Job cuts in Tata Steel's UK operations inevitable: CEO T V Narendran
YourStory
·
1y ago
Medial
Tata Steel's CEO, T V Narendran, has stated that around 2,500 workers at the company's UK operations will inevitably lose their jobs as the firm transitions to the low-emission electric arc furnace (EAF) process. This move is part of Tata Steel's decarbonisation plan and will reduce production costs and CO2 emissions. However, unions are protesting against the job losses. In September 2023, the company and the UK government agreed on a joint investment plan of £1.25 billion ($1.75 billion) to implement decarbonisation measures at the Port Talbot steel-making facility.
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After helping Trump win, Elon Musk backs far-right causes in UK, EU
Economic Times
·
6m ago
Medial
Elon Musk, via his social media platform X, has become a prominent political commentator, reportedly influencing Donald Trump’s 2024 presidential victory. Trump appointed Musk to lead the Department of Government Efficiency. Musk has stirred controversy by criticizing UK Labour Leader Keir Starmer, endorsing Nigel Farage’s Reform UK, and supporting Andrew Tate’s divisive bid for UK Prime Minister. Musk has also backed Germany's far-right AfD party, despite ongoing scrutiny under the EU's Digital Services Act.
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Donald Trump compares UK's demand for Apple user data to Chinese monitoring
Economic Times
·
5m ago
Medial
In an interview, US President Donald Trump criticized the UK government's demand for Apple to provide user data access, comparing it to actions typically associated with China. Trump mentioned discussing the issue with UK Prime Minister Keir Starmer during a White House meeting. Apple recently halted an advanced encryption feature in response to UK demands. The incident has sparked concerns about potential violations of the CLOUD Act, which restricts cross-border data access demands.
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