Boris Johnson has launched an offensive against France's central bank governor, accusing him of a "naked attempt to steal London's financial crown," the Financial Times reports.» Read More
BRUSSELS, May 10- ArcelorMittal, the world's largest steelmaker, defied fears of a profit warning on Friday and kept its earnings forecast for this year, helped by deep cost cutting in Europe. The $500- billion- a-year steel industry, a gauge of the global economy, has been hit hard by a drop in demand from austerity-ravaged Europe and signs of slowing growth in China.
began operating its refinery at expanded capacity and the data also now includes the 120,000 bpd Bina plant in central India. During 2012/ 13, India's oil output declined 0.3 percent to about 760,400 bpd. Crude processing by the 180,000 bpd Bathinda refinery, jointly owned by state-run Hindustan Petroleum Corp.
FLORANGE, France, April 24- Steelworkers here cheered Francois Hollande in early 2012 when, as a presidential candidate, he vowed to protect them from a plan to close two blast furnaces. Owner ArcelorMittal turned off a gas feed on Wednesday, shutting the furnaces for good.
PARIS, April 20- ArcelorMittal CEO Lakshmi Mittal said on Saturday he regretted that the steel giant was having to permanently close two French blast furnaces but high labour and energy costs kept France at a competitive disadvantage.
*FY net loss $3.73 bln after $4.3 bln Europe writedown. BRUSSELS, Feb 6- ArcelorMittal, the world's largest steelmaker, forecast improving demand and earnings this year, after a wretched 2012 in which sliding European consumption and a Chinese slowdown drove it to a deep net loss.
*Communications gaffes blights French government. *Anti-business image overshadows pro-growth reforms. PARIS, Jan 10- On the campaign trail, Francois Hollande pleased working-class voters with promises of a super-tax on millionaires and sought to reassure foreign investors with commitments to restore public finances and revive French industry.
*Credit at junk rating with S&P, Moody's, Fitch. *Moody's says no immediate impact, demands more. BRUSSELS, Jan 9- ArcelorMittal SA, the world's largest steelmaker, will issue $3.5 billion of shares and convertible notes to sharply reduce the heavy debts that led to a cut in its credit rating to "junk" status.
BRUSSELS, Jan 9- ArcelorMittal, the world's largest steelmaker, will issue $3.5 billion of shares and convertible notes to sharply reduce a heavy debt level that has led to a cut in its credit rating to junk status.
*ArcelorMittal credit at junk rating with S&P, Moody's. BRUSSELS, Jan 9- ArcelorMittal, the world's largest steelmaker, will issue $3.5 billion issue of shares and convertible notes to sharply reduce a heavy debt level that has led to a cut in its credit rating to junk status.
*POSCO, China Steel, ArcelorMittal long-term iron ore pact. SEOUL/ HONG KONG, Jan 2- ArcelorMittal, the world's biggest steelmaker, will sell a $1.1 billion stake in a Canadian iron ore mine operator to a consortium that includes South Korean steelmaker POSCO and Taiwan- listed China Steel Corp, China Steel said in a statement.
BRUSSELS, Dec 21- ArcelorMittal, the world's biggest steelmaker, is writing down the value of its European business by $4.3 billion, underscoring its gloom about prospects for the region's recession-hit manufacturers.
That includes firms such as Chicago- based biotech Novian Health, lured to a technology park outside Paris by generous tax credits for research and development. "For early-stage companies it's a really big plus because you can recoup a lot of your R&D expenses," Novian Health's Vice President Gene Bajorinas told Reuters. "
PARIS, Dec 16- France's opposition UMP conservative party won three by-elections on Sunday despite its own internal problems, in the latest sign of trouble for Socialist President Francois Hollande.
Hollande's government has faced criticism over the tactics it used in a two-month battle over the future of ArcelorMittal's Florange steel plant, which unnerved investors in the euro zone's second largest economy and confused France's unions.
LONDON/ MILAN, Dec 6- Italy faces a deep crisis as its biggest steel plants struggle for survival, putting it in the forefront of a permanent decline in western Europe's steel sector and increasing cost pressures on many of the region's industries.
*ArcelorMittal withdraws French site bid for EU-funded project. PARIS, Dec 6- A politically charged deal between the French government and ArcelorMittal to preserve jobs at an ailing steelworks looked at risk of unravelling on Thursday after the global steel giant ditched a bid to run an EU-funded project there.
But the two-month stand-off over steel giant ArcelorMittal's Florange plant in Lorraine has unnerved investors in the euro zone's second largest economy, confused France's unions and exposed his six-month-old government to international ridicule.
Boris Johnson has launched an offensive against France's central bank governor, accusing him of a "naked attempt to steal London's financial crown," the Financial Times reports.
*France, Germany, Spain to hold close to 30 pct. Officials were putting finishing touches on Sunday to a deal to bring Germany on board with 12 percent of the maker of Airbus jets and Ariane rockets, at parity with France. Germany has not been a shareholder until now while France previously allowed itself to be represented by Lagardere.
PARIS, Dec 2- Francois Hollande's bid to rescue steel furnaces in France's historic industrial heartland was to be the mark of a president on the side of the workers and a state with the courage to bring a multinational to heel.