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ArcelorMittal Q1 net loss down to $416 mn; reports higher debt

ArcelorMittal today said its net loss narrowed down to USD 416 million (about Rs 2,766 crore) in the quarter ended March 31, but the steel giant reported a rise in debt to USD 17.3 billion during the period.

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.

ArcelorMittal USA to secure up to $1 bn loan facility

ArcelorMittal USA to secure up to $1 bn loan facility

Steel giant ArcelorMittal today said its US-based subsidiary intends to secure up to USD 1 billion 5-year revolving credit facility, which the firm will utilise for general corporate purposes.

After UK exit, Tata may combine European steel business with Thyssenkrupp: Source

After UK exit, Tata may combine European steel business with Thyssenkrupp: Source

Tata Steel and Germany`s Thyssenkrupp have been talking about combining their European steel operations, a person aware of the talks said on Friday

ArcelorMittal to sell LaPlace and Vinton steel plants in US

World's largest steel manufacturer ArcelorMittal is selling its LaPlace and Vinton Long Carbon facilities in the US to an affiliate of the asset management firm Black Diamond Capital Management.

ArcelorMittal's losses at $8 billion; to raise $3 billion, cut debt

The world's largest steelmaker outlined a plan to reduce its USD 15.7 billion net debt by nearly a quarter.


Spanish stock market closes higher

On Wednesday session Inditex shares led rises climbing 2.71 percent, followed by Gamesa, Enagas, Gas Natural, Grifols and Abertis A that rose 2.52 percent, 2.49 percent, 2.10 percent, 1.81 percent and 1.53 percent respectively

Spanish stock market falls

Spain's 10-year bond interest rate slid from 1.8 percent on Monday to 1.65 percent on Friday.

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 keeps forecast despite worse market view

The group said it now expected the Chinese market to contract by up to 1 percent, having previously guided for growth of between 0.5 to 1 percent.

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.

ArcelorMittal cuts R&D expenses by 4% at $259 mn in 2014

The NRI-billionaire Laxmi Mittal led company had reported R&D expenditure of USD 270 million in the year-ago period, ArcelorMittal said in a report.

ArcelorMittal readies DFR for $6.5-bn Karnataka steel plant

"A draft feasibility report for the contemplated steel plant has been completed and hydrological and environmental impact assessment studies have been initiated," it said in its latest annual report.

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 sees iron ore hit, lower steel growth in 2015

ArcelorMittal, the world`s largest producer of steel, forecast on Friday its profit would fall in 2015, rather than improve as expected, as iron ore prices sapped mining earnings and steel market growth cooled from last year.

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).

ArcelorMittal, Tata Steel to start hedging iron ore: Sources

Top steelmakers ArcelorMittal and Tata Steel are dipping their toes into iron ore derivatives, marking a crucial milestone in developing trade for the world`s second-largest commodity after oil.

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.