Tata Steel seen in talks with banks for $5.4 bn loans <ul><li>Tata Steel, India’s largest producer of the alloy, is in talks with banks for £3.5 billion ($5.4 billion) in loans for its UK unit. </li></ul><ul><li>BNP Paribas SA, Credit Agricole CIB, HSBC Holdings and Royal Bank of Scotland Group are among the 11 banks that may lend £2.5 billion. </li></ul><ul><li>The five-year loan may pay interest of around 400 basis points more than the London interbank offered rate </li></ul>
Audi plans second shift at India plant <ul><li>Audi plans to churn out more from its existing plant in India through a second production shift </li></ul><ul><li>it aims to more than double its sales by 2015, a top company executive said. </li></ul><ul><li>start second shift at its factory in Aurangabad to take the production to 3,000 units by next year from 2000 units at present. </li></ul>
US loses 54K jobs, Obama promises new package <ul><li>job losses, came from the public sector as the government cut 114,000 temporary census workers according to the Labour Department. </li></ul><ul><li>the measure would set up a $30 billion lending fund to help community banks offer small businesses credit. It also would provide tax breaks to small businesses that invest in new equipment and hire unemployed workers. </li></ul>
Decision on reinstating Hyundai workers deferred to Sep 13 <ul><li>A decision on reinstating 35 dismissed workers of the Hyundai Motor India was deferred for the third time Friday to Sep 13, with Tamil Nadu Labour Minister T M Anbarasan seeking more time to prepare a report on the issue </li></ul><ul><li>The Hyundai Motor India Employees Union (HMIEU) is affiliated to CITU. </li></ul>
Infosys BPO loses work from Deutsche Bank <ul><li>Deutsche Bank is moving a portion of its back office processes from Infosys BPO to its captive centre in the city. </li></ul><ul><li>Some 150 people are working on this process. Infosys has another 500-plus BPO executives working for various other processes of Deutsche Bank who will remain with Infosys </li></ul>
Maruti, Tata Motors & Skoda set to drive into MUV Segment <ul><li>Tata Motors will roll out its Tata Aria, developed from the Xover concept, in the last quarter of 2010 </li></ul><ul><li>Maruti’s first crossover based on its R3 concept and Skoda Roomster will hit the Indian road next year, according to industry executives familiar with company plans. </li></ul><ul><li>The segment, dominated by Innova and Mahidra & Mahindra’s Xylo, grew 41% to 1.5 lakh vehicles, or close to 10% of the country’s passenger vehicle market, last financial year. </li></ul>
<ul><li>Industry analysts point to increased incomes, higher aspiration levels, more young buyers and multi-purpose utility as factors boosting crossovers. Also, crossovers are priced lower, Rs 6-11 lakh, than SUVs coming at Rs 8-25 lakh and more </li></ul><ul><li>Automakers expect the demand to soar, driven by nucleus facilities looking at bigger crossover vehicles that can change into outstation wagons </li></ul>
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