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Union holds out strike threat if Tata fails to invest in UK
Publish Date : 2/5/2007 8:37:00 AM Source : Business News ExpressNewsline.com
Britain's leading steel union, Community, has warned Tata Group that unless it invested heavily in the future of Corus it will face widespread industrial action.
The threat comes as Ratan Rata, the Group's chairman, cautioned that there were no guarantees over job safety.
Community, formerly the Iron and Steel Trades Confederation, is particularly concerned about the future of the Port Talbot works in South Wales, where it believes investment of 200 million pounds in steel finishing capacity is needed to secure the plant's future. More than 3,100 of Corus's 24 ,000 workforce at employed there.
A senior Community official told the Observer that the union is seeking an urgent meeting for assurances on future investment.
"Tata can invest in the future or it risks a serious industrial dispute in the UK. We are quite prepared to go to these lengths. It needs to put 200 million pounds into Port Talbot. That's what it paid bankers for the advice on the deal. It's peanuts", he said.
Tata had last week edged out Brazilian group CSN to gain control of Corus in an auction that valued the Anglo-Dutch steelmaker at 6.7 billion pounds. Tata paid 608 a share, well above market expectations, having hiked its October last year's offer of 455 pence.
Harvard students condemn Oxford University
Publish Date : 3/5/2007 7:11:00 AM
Two Harvard students, including an NRI, have condemned Oxford University, where they are Rhodes scholars, as "outdated" and "frustrating" and dismissed its world famous Bodleian library as "less than inspiring".
Indian embassy to outsource jobs to American firm
Publish Date : 3/5/2007 7:10:00 AM
After taking thousands of American jobs through outsourcing, India is planning to give a few back. The Indian embassy in the US capital is planning to outsource processing of visas to a US-based company.
Badal heads 18-member coalition ministry in Punjab(Final lead: Badal)
Publish Date : 3/3/2007 7:29:00 AM
Octogenarian leader of the Shiromani Akali Dal (SAD) Parkash Singh Badal, on Friday took oath as Punjab's new Chief Minister and will lead an 18-member SAD-Bharatiya Janata Party (BJP) coalition ministry.
Bareilly eunuch adopts a girl child
Publish Date : 3/3/2007 7:22:00 AM
It was a day of celebration for Saroj, a eunuch in Bareilly in Uttar Pradesh, as 'she' has become a 'mother' by adopting a baby girl.
Kalam offers prayer at Fatehpuri Masjid
Publish Date : 3/3/2007 7:16:00 AM
Keeping a promise made two years ago, President A P J Abdul Kalam today offered prayers at the historic Fatehpuri Masjid in Chandni Chowk here along with thousands of Muslims.
Union Budget directionless, says Modi
Publish Date : 3/1/2007 8:41:00 AM
Gujarat Chief Minister Narendra Modi today criticised the Union Budget by terming it as "directionless".
Centre allocates over Rs 100 crore for minority zones
Publish Date : 3/1/2007 8:38:00 AM
Unfazed by the BJP's criticism over its welfare schemes for Muslims, the Congress-led Central Government has allocated over Rs 100 crore for development programmes in select districts with a sizeable population of minorities.
Kins of political bigwigs fail to find voters' favour
Publish Date : 3/1/2007 8:27:00 AM
The assembly polls in Punjab turned out to be unkind for several kins of political bigwigs as voters rejected most of them barring some of Shiromani Akali Dal (SAD) supremo Parkash Singh Badal's near and dear ones.
High Court order on age of nursery admission tomorrow
Publish Date : 3/1/2007 8:24:00 AM
The Delhi High Court today observed that the city Government's submission that a child should be four-years-old to get admission in nursery class was contrary to the law.
Parliament session may be stormy tomorrow on Quattrocchi issue
Publish Date : 3/1/2007 8:18:00 AM
After the lull, it is going to be storm again in Parliament tomorrow.
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