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ArcelorMittal raises $3 billion via rights issue

Steel giant ArcelorMittal said it has successfully completed a USD 3 billion rights issue, proceeds of which will be utilised to pare debt.

Lakshmi Mittal's S African steel plant in government bailout

The South African arm of Indian steel magnate Lakshmi Mittal's business empire has received a bailout from government interventions after earlier being at loggerheads with it over a closure that would have effectively destroyed an entire town that depended on it.

Lakshmi Mittal's London steel tower losing money

One of London's newer landmarks, the Arcelor Mittal Orbit designed by British-Indian artist Anish Kapoor to mark the 2012 Olympic Games in the city, is losing nearly 10,000 pounds a week as tourist numbers fall short of expectations.

ArcelorMittal, SAIL to set up steel plant in India

NRI billionaire Lakshmi Mittal-led ArcelorMittal on Friday partnered PSU giant SAIL to set up an automotive steel plant with an estimated Rs 5,000 crore investment, taking a fresh shot at entering India after nearly a decade-long wait for its earlier projects to take off.

ArcelorMittal's net loss widens to $728 million, cuts capex to $3 billion

The company, controlled by NRI billionaire Lakshmi Mittal, had reported a net loss of USD 205 million in the year-ago period, it said in a statement.

Top 101 in UK's Asian Rich List possess GBP 54.48 bn

According to the Asian Rich List, UK's 101 Wealthiest Asians in 2015 brought out by EasternEye - a publication of Asian Media and Marketing Group, the net worth of the people on the list has risen by 5.7 per cent over last year.

ArcelorMittal narrows Q4 loss to $955 mn

The company, controlled by NRI billionaire Lakshmi Mittal, had reported USD 1.2 billion net loss in the October-December quarter of the last year, it said in a statement.

ArcelorMittal sells its Kuzbass coal mines in Siberia

World's largest steel maker ArcelorMittal has announced selling its Kuzbass coal mines in the Kemerovo region of Siberia to Russia's National Fuel Company (NTK).

Steel baron Lakshmi Mittal drops down South Africa rich list

Mittal's 52 percent holding in ArcelorMittal, worth 6.3 billion rands, now places him at 13th position from 9th last year, 3rd before that, while he topped the list for the preceding six years.

Mittal bids for 'environmental disaster' Italian steel plant

ArcelorMittal has teamed up with Italy's Marcegaglia to bid for Ilva, a loss-making Italian steel plant at the centre of a major environmental scandal, the target company confirmed Wednesday.

ArcelorMittal, Gerdau to sell US steel mill for $770 mn

World's biggest steel producer ArcelorMittal today said it has inked a pact with Brazil's Gerdau to sell their 50 percent stakes in US-based Gallatin for USD 770 million, as part of its strategy to divest non-core assets.

ONGC-Mittal gives up oil block in Nigeria

ONGC-Mittal Energy Ltd, the famed joint venture of ONGC and steel czar Lakshmi Mittal, has relinquished an oil block in Nigeria after the African nation refused to relieve it of a USD 6 billion downstream investment commitment.

Top 5 richest Indians have half of nation's billionaire wealth

Mukesh Ambani remains the richest man in the country with an estimated net worth of USD 24.4 billion (about Rs 1,49,474 crore).

Lakshmi Mittal’s bid to buy mountain sparks protests in UK

Indian steel tycoon Lakshmi Mittal has bid for an iconic mountain range in Britain, sparking protests from local people who believe the move could make the area a playground for the super-rich.

ArcelorMittal lowers forecast for global steel demand

ArcelorMittal, the world`s largest steelmaker, trimmed its forecast for global steel use on Friday due to a more pronounced slowdown in China and a decline in Russia, though it retained optimism about its core European and U.S. markets.

Anand Mahindra, Lakshmi Mittal only Indians in Fortune's greatest leaders list

Industrialists Anand Mahindra, who chairs Mahindra and Mahindra, and Lakshmi Mittal, CEO Arcelor Mittal have been named amongst the top 50 leaders in the world at positions 40 and 48 respectively.

ArcelorMittal to invest $15 mn in Brazil for special steel

The world's largest steel-maker ArcelorMittal is investing USD 15 million at its Brazil facility to produce specialised high strength steel for automotive industry by next year.

Lakshmi Mittal's salary,perks in 2013 declines 38% at $2.29 mn

Lakshmi Mittal, Chairman and CEO of world's largest steel-maker ArcelorMittal and one of the richest Indians, took a 38 percent cut in his salary and perks last year amid his firm reporting second consecutive loss in two years.

ArcelorMittal posts $1.23 bn net loss for Oct-Dec quarter

It said the results could have been better had the company not incurred USD 1.3 billion on exceptional items.

ArcelorMittal rejigs top management, no change in India

The restructuring, however, leaves India operations untouched with Sudhir Maheshwari's responsibilities remaining the same as CEO of India and China and Head of M&A, Finance and Risk Management.