Tata Steel Europe has said it had begun talks with its workers on a “transformation programme” that involves up to 3,000 job cuts. However the announcement drew an angr

Tata Steel in face-off with union over 3,000 job cuts : Reuters

Tata Steel Europe has said it had begun talks with its workers on a &ldquo;transformation programme&rdquo; that involves up to 3,000 job cuts.
However the announcement drew an angry response from union leaders, who said the plan needed to be revised.
Tata Steel announced restructuring plans earlier in November,&nbsp;in a bid to boost profitability. The company said it was planning up to 1,600 cuts in the Netherlands, 1,000 in Britain and 350 elsewhere.
Further talks are planned over the coming weeks.
&nbsp;

Tata Steel Europe has said it had begun talks with its workers on a “transformation programme” that involves up to 3,000 job cuts. However the announcement drew an angry response from union leaders, who said the plan needed to be revised. Tata Steel announced restructuring plans earlier in November, in a bid to boost profitability. The company said it was planning up to 1,600 cuts in the Netherlands, 1,000 in Britain and 350 elsewhere. Further talks are planned over the coming weeks.

Bears took control the equity markets across the globe on the last day of trade. After sparking hope and starting trade positively Wall Street saw volatile moves pushin

Bears took control of the equity markets across the globe on the last day of trade for the week. After sparking hope and starting trade positively Wall Street saw volatile moves pushing the 30 stock Dow Jones end at the day low shedding 460 points.&nbsp;
All three major averages posted weekly losses on Wall Street, the second weekly downtick for the same. The jitters were sparked again as personal expenditure reading was higher&nbsp;than anticipated ,raising inflationary concerns.&nbsp;&nbsp;
 But equities were not the only this suffering. Crypto currency also had a tough week as Bitcoin slid&nbsp;further 5% in Friday&rsquo;s trade extending its losses to 20% for the week. Bitcoin has recorded&nbsp;it&rsquo;s&nbsp;worst weekly decline in&nbsp;atleast&nbsp;a year.&nbsp;&nbsp; &nbsp; Even&nbsp;commodities&nbsp;that have been the shining spot for traders saw profit booking.&nbsp;A gauge tracking&nbsp;23 commodities&nbsp;dropped by the most since April 2020 as&nbsp;the dollar strengthened making the commodity play less attractive&nbsp; &nbsp;

It was a sea of red for the markets led by global cues and surging bond yields. Sensex and Nifty ended 4% Friday as the weakness wiped out the week

It was a sea of red for the markets led by global cues and surging bond yields.&nbsp;Sensex and Nifty ended 4%&nbsp;Friday as the weakness&nbsp;wiped out the weekly gains.&nbsp;Sensex lost the 50,000 mark at close while Nifty managed to hold onto the 14500 mark.&nbsp;All 50 stocks in the Nifty ended in the red and financials were the main drag.&nbsp;
Rising bond yields were the culprit that sent jitters across the globe.&nbsp;Bond yields in the US have now surged back to the pre-pandemic levels and even though it indicates higher growth it signals possible inflation and cost of money rising. The Indian bond markets are also signaling the same adding to the nervousness.&nbsp;&nbsp;
It was not just the equity markets rupee hit Rs 73.5/$ in intraday trade, the lowest level in over two months. For the week the currency is lower by 1%, which would mark its biggest weekly fall in 10 months.&nbsp;

Rising yields is giving traders an unpleasant déjà vu of the 2013 ‘taper tantrum’ where markets sold off aggressively as the money market

Rising yields is giving traders an unpleasant&nbsp;d&eacute;j&agrave; vu of the 2013 &lsquo;taper tantrum&rsquo; where markets sold off aggressively as the money markets signaled the end of cheap money.&nbsp;Even though the surge is not as dramatic as 8 years ago it is enough to send equities into a tizzy.&nbsp;&nbsp; So why&nbsp;do stock markets get rattled by rising bond yields.&nbsp;&nbsp;
 Firstly,&nbsp;Rise in yields indicate the money markets betting on the possibility of higher rates by the central bank&nbsp;as inflation bets rise. In the US its mostly due to improving economic data and traders worried the fed will shift low rates stance earlier than anticipated.&nbsp;Prices in India have been subdued so far but with sharp rises in fuel prices the RBI has also sounded off the concern on inflationary pressure.&nbsp;&nbsp;
Secondly,&nbsp;Investors also reassess portfolio allocations are yields&nbsp;rise,&nbsp;betting more on cheaper safer bond markets as returns become more attractive.&nbsp;&nbsp;
Finally, the cost&nbsp;of capital&nbsp;also rises significantly with rising yields and the debt pressure on the corporate sector enlarges in turn adding pressure on to the stock.&nbsp;&nbsp;

Dalal Street is feeling the global jitters of rising yields indicating cheap money bets are lowering and inflationary bets rise. Wall Street saw t

Dalal Street is feeling the global jitters of rising yields, indicating cheap money bets are lowering&nbsp;and inflationary bets rise. Wall Street saw the biggest fall since October and the&nbsp;nervousness has spread to Dalal Street as well with the Sensex and Nifty both trading much lower on the final day of trade of the week.&nbsp;&nbsp; &nbsp; Bond yields in the US have now surged back to the pre-pandemic levels and even though it indicates higher growth it signals possible inflation and cost of money rising. The Indian bond markets are also&nbsp;signaling&nbsp;the&nbsp;same.&nbsp;The rupee continues to trade significantly lower to the greenback&nbsp;while brokerages&nbsp;are raising their&nbsp;year-end&nbsp;target for the&nbsp;10-year&nbsp;yield as well.&nbsp;
Financial and technology continuing to be the sore point on Dalal Street, mirroring global&nbsp;weakness in&nbsp;sectors.

Global markets under pressure as Wall Street saw the worst sell-off since October.

Global markets under pressure as Wall Street saw the worst sell-off since October. The 500 stock gauge S&amp;P saw the biggest drop in a month sliding&nbsp;2.5%.&nbsp; The tech tumble exaggerated it's losses with the Nasdaq&nbsp;Composite&nbsp;slid 3.5%, this marks it's biggest sell-off since Oct. 28. Marquee names like&nbsp;Alphabet, Facebook, and Apple all fell more than 3%, while Tesla sunk another 8%.
Traders were spooked as the 10 year yield sky rocketed to the highest level since Feb 2020 in what many traders called a flash spike.&nbsp; Higher rates on the yield signal bad news for corporates&nbsp;especially tech companies that bank of them for lower borrowing rates.&nbsp;

SEBI responding to the trading halt has questioned by India’s largest bourse NSE on why trading did not migrate to the disaster recovery site. The

SEBI responding to the trading halt has questioned by India&rsquo;s largest bourse NSE on why&nbsp;trading did not migrate to the disaster recovery site.&nbsp;&nbsp;The DR site is a&nbsp;backup&nbsp;site which is located in another city and is a replica of the main production site in Mumbai&nbsp;
In&nbsp;fact, the National Stock Exchange had informed brokers in October that for two complete trading&nbsp;days,&nbsp;September 28 &amp; 29 the bourse had operated entirely out of the disaster recovery site, notably without any issues.&nbsp;&nbsp;Ironically the next round of testing is due end of March.
SEBI has sought a complete report including the details of internal assessments which led to the 4-hour trading halt&nbsp;on Wednesday.&nbsp;SEBI however reassured investors that&nbsp;the market regulator&nbsp;would take&nbsp;all necessary measures to ensure rectification of the underlying causes&nbsp;including addressing institutional deficiencies.&nbsp;

After a long wait, the insurance regulator IRDAI has given its final nod to Axis Bank and subsidiaries, picking up a 12% stake in Max Life Insurance. This will now fina

After a long wait, the insurance regulator IRDAI has given its final nod to Axis Bank and subsidiaries, picking up a 12% stake in Max Life Insurance. This will now finally let Axis be a joint venture partner in the company, something that the entities had announced in April 2020.
Now that all the pins have fallen in place for the deal, it also allows Axis entities to raise their stake further by 7% which they intend to do in a couple of years.
Max Life is the fourth-largest private life insurer in India, while Axis is India&rsquo;s third-largest private bank.

ndia’s largest exchange has some explaining to do to the market regulator and the finance ministry. Reports indicate SEBI and Fin Min have sought a detailed from

India&rsquo;s largest exchange has some explaining to do to the market regulator and the finance ministry. Reports indicate SEBI and Fin Min have sought a detailed report from NSE on the technical glitch that halted trade for over 4 hours.&nbsp;
National Stock Exchange is expected to submit it&rsquo;s report before Friday but this may just be the preliminary submission. This is not a first for the&nbsp;NSE, the exchange halted trade for 3 hours in 2017 again due to a technical glitch.&nbsp;
 SEBI had slapped a Rs 50 lakh fine on NSE in 2019 when NSE NOW, a trading terminal for traders, was not working properly in Gujarat, Rajasthan and in some parts of Maharashtra.Infact&nbsp;SEBI in it&rsquo;s annual report last year had indicated the need of a plan to compensate investors for losses due to technical glitches.&nbsp;

“Government has no business to be in business” that was the clear and concise message from PM Modi as the govt batted aggressively for privatisation.

&ldquo;Government has no business to be in business&rdquo; that was the clear&nbsp; and concise message from PM Modi as the govt batted aggressively for privatisation. Putting the focus back onto development PM Modi reiterated that being in businesses distracts the govt from its main goals.
With over 100 assets identified in its asset monetisation pipeline the Prime Minister reminded India Inc that the Rs 2.5 lakh crore that they are hoping to raise via divestment will be dedicated to development goals. PM Modi added that the government will be&nbsp;having&nbsp;public sector companies only in key strategic sectors and that too only minimum companies. &nbsp;
 There were about 249 PSUs in 2018-19. Of these, 70 were loss-making, with combined losses to the tune of Rs 31,000 cr.&nbsp;

Not even an hour into trade at 10:06 am there was confusion across dealing rooms as the headline Index Nifty seemed to have been stuck at a single value and was not upd

Not even an hour into trade at 10:06 am there was confusion across dealing rooms as the headline Index Nifty seemed to have been stuck at a single value and was not updating. It was not long before traders realised there was a systemic problem as the none of the Indices listed across the NSE were updating.
 At 11:40 for the second time in the last 5 years the National Stock Exchange halted trade across segment cash and F&amp;O segment citing a technical glitch.&nbsp;
 What followed was just whispers of communication confusion with no official word from the bourse traders speculated what would happen to open positions just a day ahead of expiry.&nbsp;
 3 hours into the trading halt, India&rsquo;s largest brokerage Zerodha finally decided to layout a gameplan for its users as NSE had still not provided any clarity. The discount broker firm tweeted Plan of action: If NSE isn't back up by 2.45 pm, we will block all new MIS &amp; CO orders for the day and attempt to square off all equity MIS &amp; CO positions on BSE. Unfortunately, we will not be able to do anything with intraday F&amp;O positions if NSE isn't back up
 It was just minutes before close that NSE announced that trading hours would be extended by both exchanges from 3:45 upto 5 pm. The message was short and for many almost too late . Zerodha sent out a message to their clients - if NSE had informed brokers of a potential reopening or extension of trading hours, at least by 3 PM, we, along with many other brokers would not have had to take risk mitigation measures and square off positions on BSE. Unfortunately, because there were no updates given to brokers, we had no other choice. The last minute notification of the trading extension at 3:17 PM came a little too late.&nbsp;

The 50 stock Nifty will have a fresh line up for the new fiscal as it will add on Tata Consumer Products while dropping state run GAIL from it’s list. This

The 50 stock Nifty will have a fresh line up for the new fiscal as it will add on Tata Consumer Products while dropping state run GAIL from it&rsquo;s list.&nbsp;
This is will mark the debut of Tata Consumer Products previously called Tata Global beverages into Nifty as it joins in ranks with peers Hindustan Unilever, Nestle, Britannia. The weight of consumer stocks in the benchmark will rise to over 11.5% with the inclusion&nbsp;
 Tata Consumer holding key brands such as Tata Tea, Tetley, Tata Salt &amp; Himalayan water will be the 5th Tata Group company in the Nifty after TCS, Tata Steel, Tata Motors and Titan.

As markets continue to hover near a record high, stellar flows have kept the rupee firmly in the lead amongst emerging market currencies. Foreign investors have pumped

As markets continue to hover near a record high, stellar flows have kept the rupee firmly in the lead amongst emerging market currencies. Foreign investors have pumped in over $4 billion in the past month making the rupee rose to a near one-year high against the dollar. This poses a problem for the central bank as it continues its intervention to keep the rupee on a competitive footing. All eyes will remain on Friday this week as the govt releases growth data for the previous quarter which is likely to show that India has come out of the recession with a mild expansion of 0.5%.

Bitcoin surged past $50,000 for the first time on Tuesday as the world's biggest cryptocurrency continues to gain confidence from investors. Bitcoin hit

Bitcoin&nbsp;surged past $50,000 for the first time on Tuesday as the world's biggest cryptocurrency&nbsp;continues to gain confidence from investors. Bitcoin&nbsp;hit a fresh high of $50,500.&nbsp;It has risen around 72% so far this year.&nbsp;Bitcoin is winning more mainstream attention after Tesla&rsquo;s $1.5 billion purchase.

In a major relief for Future Retail CEO Kishore Biyani, the Securities Appellate Tribunal (SAT) has stayed the SEBI's order restricting him from the securities market.&

In a major relief for Future Retail CEO Kishore Biyani, the Securities Appellate Tribunal (SAT) has stayed the SEBI's order restricting him from the securities market.&nbsp;SAT, however, has directed Future Group promoters to deposit ₹11 crore as an interim measure. Earlier this month, the capital market regulator SEBI&nbsp;barred Biyani, among others, from the securities market for a period of one year for insider trading in the scrip of Future Retail.

The BSE Sensex has surpassed the 52,000-level for the first time as the markets continue to make new record highs. Banking and financial stocks were the major cont

The BSE Sensex&nbsp;has surpassed the 52,000-level for the first time as the markets continue to make new record highs. Banking and financial stocks were the major contributors to the Monday morning rally.
At around 10 am, the Sensex&nbsp;was 504 points higher at 52,048 and the Nifty was trading 0.87% or 131 points in the green at a new all-time high of 15,294.
Bharti&nbsp;Airtel, IndusInd&nbsp;Bank, Axis Bank, ICICI Bank and HDFC&nbsp;were the top five markets movers.

Twitter co-founder and CEO Jack Dorsey on Friday announced that he and American rapper Jay-Z will create a fund devoted to Bitcoin development, initially focu

Twitter co-founder and CEO Jack Dorsey on Friday announced that he and American rapper Jay-Z will create a fund devoted to&nbsp;Bitcoin&nbsp;development, initially focused on teams in Africa and India. The Twitter chief said in a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called 'Btrust'. That amount of the cryptocurrency was worth about $24 million as&nbsp;Bitcoin&nbsp;was trading near $48,000 on Friday.

Indian equity market seems to have resumed its record-breaking rally as the benchmark indices closed at another all-time high on Thursday. The Sensex gained over

Indian equity market seems to have resumed its record-breaking rally as the benchmark indices closed at another all-time high on Thursday.
The Sensex&nbsp;gained over 350 points to close the session at 50,614 and the NSE&nbsp;Nifty rose 0.71% to end the trade near 14,900. With this, the Bombay Stock Exchange or BSE has crossed the market capitalisation of ₹200 lakh&nbsp;crore.
SBI, ITC, Bajaj&nbsp;Finance, Shree&nbsp;Cements and ONGC&nbsp;were the top five market movers for the day. However, Asian&nbsp;Paints, UPL, Cipla, IndusInd&nbsp;Bank and Bharti&nbsp;Airtel&nbsp;were the top five losers.
The rupee ended flat at 72.96 against the US dollar.
&nbsp;
&nbsp;

Equity markets opened slightly lower on Thursday led by banking and financial stocks. Asian peers were trading in the red. At 9:20 am, the Sensex was 77 points down at

Equity markets opened slightly lower on Thursday led by banking and financial stocks. Asian peers were trading in the red.
At 9:20 am, the Sensex was 77 points down at 50,178 and the Nifty was trading 0.07% lower at 14,779.
HDFC&nbsp;Bank, Asian Paints, IndusInd&nbsp;Bank, Tech Mahindra&nbsp;and ICICI&nbsp;Bank were the top losers. On the other hand, Hero Moto&nbsp;Corp, M&amp;M, Bajaj&nbsp;Auto, Hindalco and ONGC&nbsp;were the top five Nifty gainers.

The Securities and Exchange Board of India (SEBI) has barred Future Group CEO Kishore Biyani from accessing the securities market for a year after its investigatio

The Securities and Exchange Board of India (SEBI) has&nbsp;barred Future Group CEO Kishore Biyani from accessing the securities market for a year after its investigation revealed insider trading in 2017. The capital market regulator said Biyani and his brother Anil&nbsp;traded in shares of&nbsp;Future Retail through another unit using unpublished price sensitive information. This happened between March 10, 2017, and April 20, 2017, when certain businesses of FRL were recast, causing its share price to rise, it said.
&nbsp;

Bulls are back to the equity markets as the Sensex swelled over 3,500 points in just two trading sessions after the Budget 2021 announcements. Domestic equi

Bulls are back to the equity markets as the Sensex&nbsp;swelled over 3,500 points in just two trading sessions after the Budget 2021 announcements.&nbsp;
Domestic equity benchmark Sensex&nbsp;gained almost 1,200 points to end the Tuesday session at 49,797. The NSE&nbsp;Nifty also surged 2.57% to close the trade at 14,647.
Tata&nbsp;Motors was the top Nifty mover as it soared almost 17%, followed by Shree&nbsp;Cements, Ultratech&nbsp;Cements, SBI&nbsp;and UPL.
The rupee appreciated 6 paise to finish at 72.96 against the US dollar.

follow us

download editorji app

home > markets > Tata Steel in face-off with union over 3,000 job cuts: Reuters

replay trump newslist

up NEXT IN 5 SECONDS sports newslist

NaN/0

Tata Steel in face-off with union over 3,000 job cuts: Reuters

share this news

explore newslists

International

Lifestyle

Hollywood

Sports

Viral

Tech

National

Showbiz

Travel

Local

Markets

Mar 01, 2021 07:40 IST

Feb 28, 2021 15:50 IST

Mar 01, 2021 11:00 IST

Feb 27, 2021 00:55 IST

Feb 28, 2021 06:50 IST

Feb 27, 2021 20:30 IST

Feb 27, 2021 12:30 IST

Feb 27, 2021 00:55 IST

Feb 27, 2021 00:55 IST

Feb 27, 2021 00:55 IST

Feb 26, 2021 05:30 IST

Feb 24, 2021 10:00 IST

Feb 18, 2021 18:10 IST

Feb 18, 2021 11:50 IST

Feb 17, 2021 10:00 IST

Feb 19, 2021 13:50 IST

Feb 05, 2021 08:50 IST

Feb 04, 2021 15:30 IST

Feb 09, 2021 09:20 IST

Feb 03, 2021 08:50 IST

follow editorji

download editorji

editorji

About Us

Reach us

Navigate

home
> markets
> Tata Steel in face-off with union over 3,000 job cuts: Reuters