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Cleveland-Cliffs To Buy ArcelorMittal USA In $1.4 Bln Deal – Quick Facts

Cleveland-Cliffs Inc. (CLF) announced Monday that it has entered into a definitive agreement with ArcelorMittal S.A. (MT) to acquire substantially all of ArcelorMittal USA LLC for approximately $1.4 billion. The acquisition is anticipated to be earnings per share accretive. The enterprise value of the deal is around $3.3 billion, which takes into consideration the assumption by Cleveland-Cliffs of pension/OPEB liabilities […]

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Voda Idea starts upgrading 3G users to 4G

The company said it is in the best position to upgrade 2G customers also to 4G, but it will continue with basic voice based services to its 2G subscribers Telecom operator Vodafone Idea Ltd (VIL) on Sunday said it has started upgrading its 3G users to 4G in key markets. Further, the company said it is in the best position […]

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Harley-Davidson decides to exit from India

‘The action in India will include an associated workforce reduction of approximately 70 employees’ Harley-Davidson, the iconic motorcycle major from the United States has announced its decision to discontinue its sales and manufacturing operations in India, as part of its restructuring plan necessitated by the pandemic. On September 24, 2020, the Company announced to employees additional restructuring actions related to […]

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Institutional Investors To Buy 34.9% Stake In Scientific Games From MacAndrews & Forbes At $28/Shr

Scientific Games Corp. (SGMS) announced Monday that a number of long-term institutional investors, including highly credentialed gaming industry investor Caledonia, have reached agreement to acquire a 34.9% stake in Scientific Games from MacAndrews & Forbes Inc. at a price of $28.00 per share. In connection with the transaction, Scientific Games is implementing a series of governance changes and enhancements, including […]

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Passenger vehicle wholesale sales in India increase 14% in August, says SIAM

The increase in sales is attributed to recovery in demand due to upcoming festival season. Anticipating some recovery in demand during the upcoming festival season, automobile makers witnessed a positive growth in dispatches to the dealers with passenger vehicle sales rising 14% and two-wheeler sales increasing 3%, industry body SIAM said. As per the data released by Society of Indian […]

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RBI loan restructuring plan | A difficult choice for borrowers

Before opting for RBI’s debt-recast plan, borrowers must study the long-term impact on their financials The moratorium offered by banks and other institutional lenders ended last month. However, the economic disruption caused by the pandemic and the resultant income and job loss continue to a large degree. In this scenario, the Reserve Bank of India (RBI) has announced a loan […]

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BPCL to offer stock options to employees

Employee Stock Purchase Scheme will post shares at one-third price for staffers. State-owned Bharat Petroleum Corp Ltd (BPCL) has offered its employees stock options at one-third of the market price as the company looks to reward staff ahead of its privatisation. The board of BPCL on Friday “approved the proposed Employee Stock Purchase Scheme (ESPS) to the specified employees through […]

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RBI alters priority sector norms to help start-ups, farmers avail loans

Assigns higher weightage to areas with low credit flow The Reserve Bank of India (RBI) on Friday released revised priority sector lending guidelines to augment funding to segments including start-ups and agriculture. This has come after a comprehensive review of the Priority Sector Lending (PSL) guidelines “to align it with emerging national priorities and bring sharper focus on inclusive development, […]

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California power troubles, rolling blackout threat draw ire over renewable energy transition

Fox Business Flash top headlines for August 18 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. Conservation measures helped avoid rolling blackouts in California on Tuesday as a scorching heat wave has stressed the state's electrical system to a point not seen in two decades. Continue Reading Below But the Golden State's recent power problems have […]

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US law firm Rosen plans lawsuit against HDFC Bank on alleged misleading information to investors

HDFC Bank said it was not aware of any lawsuit and prima facie it looked “frivolous as we believe we have been transparent in our disclosures”. US-based Rosen Law Firm on Monday said it is planning to investigate potential securities claims against HDFC Bank following allegations of sharing “materially misleading business information” with investors. HDFC Bank said it was not […]

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