Account
Tata Steel Ltd. (500470.BY) Thursday posted its biggest quarterly loss ever as the company took a large non-cash charge on some assets write-downs, including in its key European market.Tata Steel reported a net loss of 65.29 billion rupees [$1.17 billion] for the January-March period, compared with a profit of 4.33 billion rupees a year earlier. Sales rose 1.0% to 341.80 billion rupees.The company, part of India's salt-to-automobiles Tata Group, said earlier this month that it would write down 83.56 billion rupees [$1.51 billion] because weak market conditions, especially in Europe, have reduced the value of its assets.Tata Steel gets more than half its revenue in Europe. The company says steel demand there has fallen by almost a third since the global financial crisis. It has been struggling to turn around the European unit's operations for the past couple of years, cutting staff and selling a plant in the U.K.Other European steelmakers are also hit as European heavy industry continue...
Steel titan ArcelorMittal (MT) is operating 16 out of its 21 European blast furnaces at the moment, with the majority of those idled located in Eastern Europe rather...
European stock markets were on track for reaching fresh 2013 records on Friday, keying off gains in Asia, where Japanese shares jumped after the U.S. dollar climbed ...
POSCO's <005490.KS> planned $12 billion project in India got a boost on Friday after a top court said the federal government will decide on giving the South Korean s...
Steel titan ArcelorMittal Friday said it swung to a net loss in the first quarter due to lower steel shipments and prices, but maintained its full-year earnings guid...
Steel titan ArcelorMittal Friday said it swung to a net loss in the first quarter due to lower steel shipments and prices, but maintained its full-year earnings guid...
ThyssenKrupp AG's (TKA.XE) plan to sell state-of-the-art steel mills in Brazil and the U.S. appears to be nearing its end after the industrial conglomerate said Frid...
Steel prices have slumped this month, setting off a scramble among steelmakers to maintain prices and market share despite a nationwide glut.The rapid price decline,...
The number of jobless people in France hit a record high of over 3.2 million in March, dealing a blow to President FranÛois Hollande's pledge to reinvigorate the Fre...
Global mergers and acquisition activity in the mining and metals industry dropped by about two-thirds on year in the first quarter as mining companies adopted a "wai...
South Africa's Department of Mineral Resources and a small, politically connected company called Imperial Crown Trading are seeking to appeal a recent court ruling w...
ArcelorMittal (MT), the world's largest steelmaker, said Tuesday that it will start mothballing its two blast furnaces at its steel plant in Florange, France and exp...
Russian businessman Alisher Usmanov has knocked Lakshmi Mittal off the top of this year's Sunday Times Rich List with a jump in his fortune to 13.3 billion pounds ($...
German steelmaker Salzgitter AG (SZG.XE) Thursday warned that high commodity and energy prices will continue to depress its earnings in coming months as demand in mu...
German industrial conglomerate ThyssenKrupp AG (TKA.XE) said Wednesday a new substantial write-down on the value of steel plants in Brazil and the U.S., which the co...
German industrial conglomerate ThyssenKrupp AG (TKA.XE) said Wednesday a new substantial write-down on the value of steel plants in Brazil and the U.S., which the co...
International companies trading in New York closed mixed Friday amid positive trade data in Germany and a weakening yen in Japan.The Bank of New York index of ADRs r...
Most European stock markets hit 2013 records on Friday, extending gains into a fourth straight day, as German stocks climbed to an all-time high after upbeat trade d...
ArcelorMittal: Brazil per-capita steel consumption to rise on infrastructure plan-ArcelorMittal Brasil CEO sees weaker Brazilian real "inevitable" in coming years-Ar...
European stock markets were on track to reach fresh 2013 records on Friday, keying off gains in Asia, where Japanese shares jumped after the U.S. dollar climbed abov...
