Government to part-nationalise Tata Steel plants
The UK government have announced plans to part-nationalise Tata Steel’s Port Talbot plant, according to business secretary Sajid Javid. The new package will amount to hundreds of millions of pounds in state support through loans, grants and a possible equity stake, raising hopes that up to 40,000 jobs could be saved.
The two potential buyers – Liberty House and a management consortium – have reacted positively to the news and say that it makes the prospective deal more attractive.
Microsoft shares down on disappointing figures
Microsoft shares fell over 4 percent in after-hours trading after quarterly profits came in below analysts’ estimates.
Microsoft saw stiff competition in the personal computer market in the last quarter, causing net income to fall to $3.76 billion from $4.99 billion a year earlier.
Revenue also fell to $20.53 billion from $21.73 billion, again below analysts expectations.
Daimler opens investigation into emissions
German carmaker Daimler has started a probe into its diesel emissions at the request of the US Justice Department, just days after Mitsubishi Motors became the latest car company to get caught up in scandal.
In a statement, the company said that “Daimler is cooperating fully with the authorities” and will “investigate possible indications of irregularities and of course take all necessary action”.
22/04/2016
