Companies & Sectors
Tata Steel's decision to sell British operations credit positive: Moody's
Chennai : Credit rating agency Moody's Investors Service (Moody's) on Friday said Tata Steel Ltd's decision to restructure its British operations is credit positive but there is no immediate impact on its ratings.
 
In a statement, Moody's said Tata Steels planned restructuring/divestment of its British businesses is credit positive because it will reduce some of the negative pressure on its operating performance.
 
But pending finalisation of the restructuring plan and the uncertainty around the extent of improvement in the credit profiles of Tata Steel and Tata Steel UK Holdings Limited (TSUK Holdings), there is no immediate impact on the ratings on Tata Steel (Ba3 negative) and TSUK Holdings (B3 negative), it said.
 
On March 30, Tata Steel announced that it would explore all options in restructuring its wholly-owned subsidiary, Tata Steel Europe Limited (unrated), including the potential divestment of its step-down operating subsidiary, Tata Steel UK Limited (TSUK, unrated), in whole or parts.
 
"The potential sale of the UK operations is credit positive for Tata Steel and TSUK Holdings, because it would dispose of loss-making assets, against the backdrop of a challenging operating environment; namely depressed steel prices and a situation where global steel supply continues to exceed demand," said Moody's vice president and senior analyst Kaustubh Chaubal.
 
With the impact of the loss-making TSUK operations being addressed, Moody's expects TSUK Holdings' operating performance to improve, based on the expectation that steel demand in Europe will increase by 1-1.5 percent in 2016, and the imposition of anti-dumping duties by the European Commission in February 2016 on steel imports from China and Russia.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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April Fool's Day memes, jokes go viral on social media
New Delhi : Did you read the news online that the International Cricket Council (ICC) has decided to withdraw West Indies and instead clear India for the World Cup T20 finals against England? Do not jump to your feet as several stories like this trolled various social media platforms on April Fool's Day.
 
Following the Indian team's loss to West Indies in the semi-final, memes and jokes for April Fool's Day went viral across news websites. 
 
IBNLive news website was running a story of Indian skipper MS Dhoni's resignation as captain after the loss. A match-fixing audio in the voice of Dhoni was also circulated among Whatsapp chat groups.
 
NDTV's "Cell Guru" TV show host Rajiv Makhani played the role of prankster and fooled his own team assistants and guests.
 
International media houses like The Guardian and Daily Mirror came up with the list of most trending jokes round the world. 
 
Yahoo fooled its readers with a story on grocery chain Trader Joe's closing all its 457 locations by 2017. 
 
Google too was not left behind. The search engine giant rolled out "send + drop the mic" feature to fool its users, only to roll it back later during the day.
 
Micro-blogging site Twitter too had some interesting jokes and memes throughout the day. 
 
With the hashtag #ModiDiwas, one of the trending topics of the day, Twitter users were seen getting divided into Modi fans and critics who came up with potshots at the prime minister.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Indian investigators to visit Pakistan for Pathankot probe
New Delhi : A team of Indian investigators will travel to Pakistan to further probe the January terror attack at an air base in Punjab that claimed the lives of seven soldiers, National Investigation Agency (NIA) said on Friday.
 
The announcement comes after India, in a rare show of cooperation between the two neighbours, allowed a team of Pakistani security and intelligence officials to examine the scene of the militant attack in Pathankot. 
 
"We told them (the Pakistani investigators) that we want to send a team to Pakistan. They welcomed the idea," NIA Director General Sharad Kumar said.
 
NIA is handling the Indian investigation of the January 2 attack that also left a civilian dead before six suspected Pakistan terrorists, who had infiltrated the Indian Air Force base from across the border, were killed in a gun fight that lasted for some 80 hours.
 
The agency now wants to carry forward its investigation in the Pathankot attack and question suspected masterminds, including leaders of the Jaish-e-Mohammed (JeM) terror group based in Pakistan.
 
During their India stay since March 27, the Pakistani investigators, including military, police and intelligence officials, visited the scene of terror in Pathankot and also held closed door interactions with NIA officials.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

D S Ranga Rao

1 year ago

If Pakistan is sincere enough in the investigation of Pakistan-based terrorist attacks in India, why can't it close down terrorist bases, training camps, shelters, supply lines, etc., in Pakistan Occupied Kashmir(POK), allegedly nursed and sustained by its own army and Inter Services Intelligence(ISI), instead of indulging in all sorts of theatrics and dramatics like exchange of investigating teams, cultural teams, music artists, etc.? Whom are they fooling? Does Pakistan still have a doubt that the perpetrators and their handlers of Pathankot mayhem and other terrorist attacks in J & K and other places in India are not from Pakistan but were dropped from different planets? When Pakistan says that it suffers more from the terrorists and in fact, to some extent it is true given the recent terrorist incidents of suicide bomb attack in a park blowing up several children and women, attacks on schools killing hundreds of children, etc., then why is it delaying to stamp out the terrorism, at least within Pakistan? Afraid that India will end up in a grand fiasco at the end of all this exercise.

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