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...Up to 2,800 Tata Steel jobs are set to be lost....
...British steel traders have warned that Tata Steel UK, which won £500mn in government aid, risks distorting the domestic market in a key steel product by hoovering up a trade quota for lower-cost imports....
...The government has since offered Tata Steel UK and British Steel, Britain’s second-largest producer, about £300mn each in aid....
...Workers at Tata Steel’s operations in south Wales have voted for strike action for the first time in 40 years in response to the Indian group’s plans to close the last two remaining blast furnaces....
...The head of Indian IT company Tata Consultancy Services has said artificial intelligence will result in “minimal” need for call centres in as soon as a year, with AI’s rapid advances set to upend a vast...
...Tata Steel is part of Tata Group, which is a big employer in the UK, with businesses ranging from Jaguar Land Rover to Tetley Tea....
...The struggling nearby town lost its Corus works 23 years ago, with Tata Steel acquiring Corus in 2007....
...The move is part of a £750mn investment by Tata Steel to decarbonise its UK operations, backed by a £500mn government grant....
...T V Narendran, Tata Steel’s chief executive, told the Financial Times the status quo was “not sustainable”....
...Last September, the government agreed a £500mn grant with Tata Steel to help it switch to greener forms of steelmaking....
...India’s Tata Steel will close the last two blast furnaces at the UK’s largest steelworks in Wales as part of a sweeping restructuring, cutting up to 2,800 jobs....
...Unions fear up to 2,000 jobs are at risk at British Steel. Tata Steel will invest about £750mn in its UK operations as part of the deal with the government....
...Meanwhile, Tata is also set to reap the benefits from a strong home market....
...Tata Steel is preparing to confirm that up to 3,000 steelworks jobs could be lost as part of a restructuring of its UK operations, in what would be a devastating blow to its Port Talbot plant in Wales....
...MG’s EV sales in India are a distant second to Tata, which controls roughly 70 per cent of the nascent market, according to GlobalData....
...That debate over the oil and gas industry’s future is now set to take place against the backdrop of up to 2,800 job cuts planned at Tata Steel’s steelworks in Port Talbot, Wales, as it moves from blast furnaces...
...For the UK’s net zero goals, and Tata’s finances, the move has logic. Tata Steel UK lost almost £1.5mn a day in its most recent quarter....
...The British government is in advanced talks with Tata Steel UK over a funding package worth more than £500mn to help the country’s largest steelmaker switch to greener technology, stoking fears among unions...
...Workers at British Steel and Tata Steel UK have argued for a gradual transition to lessen the immediate impact on the workforce....
...“The plans that British Steel has announced, combined with Tata Steel’s plans, would leave the UK unable to make steel from raw materials and dangerously exposed to international markets,” he added....
...In India, when the Tatas started manufacturing steel in Jamshedpur around 1907, they gradually built and developed the town itself. The original town was known as Sakchi....
...Tata Steel said it remained in discussions with the UK government over a “framework for continuity and decarbonisation of steel making in the UK”....
...Britain’s two largest steelmakers, British Steel and Tata Steel UK, have both announced plans to use much more scrap steel as they close their blast furnaces and replace them with electric arcs....
...At first glance, last week’s announcement by Tata Steel on its UK operations might look like a reflection of the inexorable green transformation of heavy industry....
...Corporate earnings: Results are due from Samsung BioLogics, Kia Motors, LG Display, Indian Oil and Tata Steel....
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