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☆ 'The ultimate adventure': Why more Indian travelers are taking extreme road trips
▼ + stars: | 2024-03-11 | by ( Kalpana Sunder | ) www.cnbc.com time to read: +5 min

More Indians are taking road trips these days — both within the country and beyond, solo and in groups — as access to better vehicles and better roads grows in the country. However, Sai took her first road trip back in 2016, before it became a trend. Sai now runs an overland driving company that organizes road trips across countries like Namibia, Georgia, Armenia, Nepal and Mongolia. Source: Rishad Saam Mehta,Since then, Mehta has taken more than 100 road trips across some 50 countries. Agarwal has traveled to 92 countries and gone on road trips in six continents.

Persons: Meenakshi Sai, she's, Sai, There's, Pollachi —, Meenakshi, —, Saam Mehta, Rishad Saam Mehta, Mehta, Tushar Agarwal, Sanjay Madan, Agarwal, Madan Organizations: Tata Motors, Ferrari, Bavarian, Toyota, Ford, Discovery Locations: Coimbatore, India, St . Petersburg, Russia, Thailand, Manipur, India's, Bangkok, London, Mumbai, Poland, Uzbekistan, Meenakshi Sai, Kyrgyzstan, Namibia, Georgia, Armenia, Nepal, Mongolia, Delhi, Ladakh, China, Munich, Austrian, Spiti, Northern India, New England, Jordan, …, Australia

☆ Missed the Nvidia rally? These 10 companies are buying its chips — and their stocks are rallying
▼ + stars: | 2024-03-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Super Micro , Tokyo Electron Device , Meta Platforms , Tata Motors and Mitsui are among the stocks that have seen the most significant gains over the past year. According to FactSet, their share price movement correlates between 93% and 98% of the time with Nvidia's stock. Super Micro Super Micro, which makes computer servers, has benefitted directly from using Nvidia's AI chips in its products. Tokyo Electron Device Tokyo Electron Device is a distributor of Nvidia's chips in Japan. Tokyo Electron Device is a listed subsidiary of Tokyo Electron , Japan's largest chip-manufacturing equipment maker.

Persons: FactSet, Meta, Mark Zuckerberg, Paul Meeks, Meeks, —, Jonathan Vanian, Weizhen Tan Organizations: Nvidia, CNBC Pro, Nvidia's, Tata Motors, Mitsui, Microsoft, Meta, Facebook, Super, Tech, Portfolio Management Locations: Tokyo, Japan

☆ The extravagant Ambani pre-wedding party was an affront to the millions of Indians in poverty, critics say
▼ + stars: | 2024-03-08 | by ( Joshua Zitser | Spriha Srivastava | ) www.businessinsider.com time to read: +5 min

But critics say it showed a telling disregard for the struggles of the many millions of Indians living in poverty. Spanning three days, the pre-nuptial event included a private performance by Rihanna, which estimates suggest cost up to $9 million. AdvertisementTripathi pointed out that 800 million of India's 1.4 billion population receive monthly food rations of wheat or rice. Sohini Kar, an associate professor at the London School of Economics, whose work focuses on urban India, told BI she agrees. Anant Ambani and Radhika Merchant serve traditional Gujarati food to villagers ahead of their pre-wedding celebrations on the outskirts of Jamnagar, India.

Persons: —, Anant Ambani, Asia's, Radhika Merchant, Rihanna, Nita Ambani, Shyam Bihari, WaterAid, Haldia, Rakhi Tripathi, Tripathi, Sohini Kar, Kar, St Louis Fed, Mukesh Ambani, Ratan Tata, Nita, Stringer Organizations: Service, Business, Bank, New, of Management, London School of Economics, BI, Oxfam International, St, Bloomberg, Architectural Digest, Reliance Foundation, Reuters Locations: India, Delhi, Asia, Mumbai, Jamnagar, Gujarat

☆ Lionel Messi and Luis Suárez both score twice as Inter Miami routs Orlando City
▼ + stars: | 2024-03-03 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Lionel Messi and Luis Suárez both scored twice as Inter Miami cruised past Orlando City 5-0 in the Florida derby on Saturday. This was the biggest margin of victory in Miami’s short history, underlining the team’s credentials as a strong contender to win this season’s MLS Cup. Suárez scores his second goal inside 11 minutes against Orlando City. “We are aware of the team that we have and we are working towards fighting for the MLS Cup,” Messi said after the match. Orlando, which drew its opening MLS game against Montréal, plays Mexican side Tigres in the Champions Cup on Tuesday.

Persons: Lionel Messi, Luis Suárez, Messi, Suárez, we’ve, I’ve, Gerardo “ Tata ” Martino, Julian Gressel, Orlando, Robert Taylor, Megan Briggs, Jordi Alba’s, ” Messi Organizations: CNN, Inter Miami, Orlando City, Miami, Orlando, MLS, Chase, Major League Soccer –, Getty Images Miami, Real, LA Galaxy, Eastern Conference, Nashville, Concacaf, Montréal, Tigres Locations: Florida, Barcelona, Argentine, Real Salt, Mexican

☆ India approves three chip plants with over $15 billion in investments to realize semiconductor ambitions
▼ + stars: | 2024-03-01 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Researchers inside the semiconductor fabrication lab at the Centre for Nano Science and Engineering, at the Indian Institute of Science, in Bangalore on June 30, 2018. India has approved building three semiconductor plants with investments of more than $15 billion as the country aims to become a major chip hub. With these units, our country will develop capabilities in chip fabrication. Advanced packaging technologies will be indigenously developed in India," according to a government statement on Thursday. The factory will focus on the mature 28-nanometer technology, namely in industries such as automobiles, consumer electronics and defense.

Persons: Taiwan's Organizations: Nano Science, Engineering, Indian Institute of Science, U.S ., Tata Electronics, Semiconductor Manufacturing Corp, Tata Semiconductor Assembly Locations: Bangalore, India, U.S, Taiwan, South Korea, Dholera, Gujarat, Morigaon, Assam

☆ Air India is rebranding after years of decline. Here are the biggest changes, from updated uniforms to swanky new Airbus A350s.
▼ + stars: | 2024-02-28 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

The new plane launched on domestic routes, like Bengaluru and Mumbai, in January and will eventually launch overseas, Air India says. It's very likely to fly to the US, though Air India has yet to release specific cities. Air India's business class is also way behind industry standards. Flight attendants and pilots are getting a makeoverIn December, Air India released photos of its new crew uniforms. Ground staff, engineers, and security personnel are also set to get new uniforms, which Air India said it will reveal in "due course."

Persons: —, Campbell Wilson, Taylor Rains, It's, Wilson, Christophe Archambault, Manish Malhotra Organizations: Service, Air India, Tata Group, Air, Business, Tata, Airbus, Boeing, Wings, Paris Airshow, Airbus A320neos, Russian, Aeroflot, India's Boeing, Qatar Airways, Delta Air Lines, Emirates, Q, Getty Images Air, Air India's Boeing Locations: India, Hyderabad, Bengaluru, Mumbai, Air India, AFP, Getty Images Air India, Qatar, Emirates

☆ Lionel Messi: World Cup winner’s dazzling skill lights up Inter Miami’s MLS season opener against Real Salt Lake
▼ + stars: | 2024-02-22 | by ( George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —Lionel Messi produced a memorable piece of skill during Inter Miami’s 2-0 victory against Real Salt Lake on Wednesday, the opening game of the MLS season. In possession on the edge of the Real Salt Lake box, Messi looked to get a shot away while injured opponent Andrew Brody lay on the ground in front of him. And he showed some speed too,” Miami coach Gerardo “Tata” Martino said of the 2022 World Cup winner’s performance, according to ESPN. The star-studded side started to deliver on those expectations in Wednesday’s curtain-raiser to the new season, with Messi at the heart of Miami’s best moments. Messi’s first full season in the US has seen a huge ticket demand for Miami’s games, and Wednesday was no exception.

Persons: Lionel Messi, Messi, Andrew Brody, Ballon, “, Gerardo “ Tata ” Martino, ” Messi, Miami’s, Luis Suárez, Sergio Busquets, Jordi Alba, Robert Taylor, Zac MacMath, Suárez, Diego Gómez, MacMath, Diego Gómez's, Megan Briggs, Justen, Julian Gressel, Messi’s, Gómez, Busquets ’, Drake Callender Organizations: CNN, Inter, Real, Real Salt Lake, MLS, Miami, ESPN, “, Chase, Barcelona, Messi, Salt Lake, Inter Miami, Martino’s Inter Miami, Leagues, Salt Lake’s, LA Locations: Real Salt, Salt, Miami, Real Salt Lake, Carson , California

☆ MLS season preview: Messi and Inter Miami target domination of US soccer in ‘year two’
▼ + stars: | 2024-02-21 | by ( Matias Grez | ) edition.cnn.com time to read: +6 min

How to watch the MLS season openerThe MLS season opener between Inter Miami and Real Salt Lake kicks off at 8 p.m. ET and will be broadcast in the US and UK on Apple TV’s MLS Season Pass, following the 10-year streaming deal signed in 2022 between MLS and the technology company. Tim Nwachukwu/Getty ImagesDays before the MLS season began, league commissioner Don Garber said he believed Miami could still add more superstar firepower to its squad. The Columbus Crew will likely pose a threat once again to win the MLS Cup. Writing for ESPN, Luis Miguel Echegaray said he doesn’t see Inter Miami winning the Eastern Conference.

Persons: Lionel Messi, Jordi Alba, Sergio Busquets, it’s, Messi, Luis Suárez, Gerardo ‘ Tata ’ Martino, Suárez’s, ” Messi, Tim Nwachukwu, Don Garber, “, ” Garber, Leo, Garber, Maddie Meyer, Wilfried Nancy, ’, Luciano Acosta, “ We’re, Luis Miguel Echegaray, Tata Martino, ”, ” GOAL.com’s Ryan Tolmich Organizations: CNN, Inter Miami, Barcelona, MLS Eastern Conference, Leagues, MLS, Miami, Apple, Uruguayan, Gremio, Messi, CONCACAF Champions League, ESPN, Argentine, Columbus Crew, FC Cincinnati, Miami Herald, ”, Eastern Conference Locations: Miami, Real Salt, Brazil, Barcelona, French, Ohio, Argentine

☆ Morgan Stanley names Asia-Pacific 'alpha' stock ideas for February — giving one nearly 80% upside
▼ + stars: | 2024-02-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Overall, the MSCI Asia-Pacific index gained 11.8% for 2023, with the MSCI China index losing around 11%. Those interested in stock-picking rather than passive investing can look to Morgan Stanley's list of Asian stocks it calls "alpha" opportunities for February. India's Tata Consultancy , an IT services and consulting company, which was upgraded by Morgan Stanley to overweight in January, was named as another top idea. Morgan Stanley believes "resilient revenue, strong [earnings before interest and taxes] margins, and positive management commentary will likely sustain valuation premium if execution improves." These are some stocks from the full list of Morgan Stanley's top overweight-rated stocks for February.

Persons: Morgan Stanley's, Morgan Stanley, MediaTek, — CNBC's Michael Bloom Organizations: Investors, Nikkei, BSE, Alpha, Tata Consultancy Locations: Asia, China, India, Japan, —

FORT LAUDERDALE, Fla. (AP) — Lionel Messi and Inter Miami closed out their tumultuous Major League Soccer preseason with a 1-1 draw against Messi's boyhood club, Newell's Old Boys on Thursday night. Messi checked out of the game Thursday with Inter Miami's Luis Suárez in the 60th minute. Photos You Should See View All 33 ImagesShanyder Borgelin put Inter Miami ahead 1-0 with a header in the 64th minute, and Newell's Franco Díaz tied it in the 83rd minute. Inter Miami set off on a global tour of exhibition games aimed at promotion and marketing, featuring Messi and the Uruguayan star Suárez. Inter Miami was outscored 12-7 in its first five games before a win in Hong Kong.

Persons: — Lionel Messi, Ballon d’Or, Gerardo “ Tata ” Martino, Messi, Martino, Inter Miami's Luis Suárez, Borgelin, Newell's Franco Díaz, Messi's, Suárez, Leo, Luis Suarez, ” Martino, Luis, fizzling, ___ Organizations: Inter Miami, Major League Soccer, Messi's, Newell's, FC Barcelona, Inter Miami's, Messi, MLS, Uruguayan, ” Inter Miami, Salt Lake Locations: FORT LAUDERDALE, Fla, Rosario, Argentina, Hong Kong, Salt

☆ I toured Air India's new A350 business class after flying its old 777 product for 13 hours. The difference is night and day.
▼ + stars: | 2024-02-13 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

Air India is rebuilding its reputation after falling into disarray under state ownership. I found the cabin a major upgrade after flying Air India's old legacy business class for 13 hours. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The Tata Group — which first founded Air India in 1932 before it was nationalized in 1953 — bought back the carrier in 2021. Under renewed management, Air India has vowed to improve its reputation, which has been plagued by broken seats and filthy planes.

Persons: —, it's Organizations: Airbus, Air, Service, The Tata Group, Air India, Business Locations: India, Air India

☆ Forcing workers back to the office is 'dinosaur management' — and companies risk losing out, expert says
▼ + stars: | 2024-02-11 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

After the first rounds of return-to-office mandates in 2023, many companies are now introducing more punitive measures to make their employees come to the office — actively tracking attendance, micromanaging employees' time, and blocking remote workers from bonuses and career progression. AdvertisementThis week, Dell informed staff that most of its workers will have to come into the office an average of three days a week. Mike Blake/ReutersIn November, Amazon also added a no-promotions policy for perennial remote workers. For example, women — who tend to take on more responsibility for the family and therefore benefit more from flexible remote work policies — will take a bigger hit from punitive policies, Cooper said. The Equal Employment Opportunity Commission recorded a 16% increase in mental health disability complaints between 2021 and 2022 from employees who want remote work allowances, The Hill reported.

Persons: —, weren't, Dell, Andy Jassy, Mike Blake, Young, Cary Cooper, Cooper, Justin Garrison Organizations: Service, Forbes, Business, Citibank, BI, Amazon, Reuters, Google, Ernst, University of Manchester, Dell, Amazon Web Services, Tata Consultancy Services, Gallup, Employment, Commission Locations: London, United States

☆ Messi’s ‘miracle’ return stirs Chinese anger and conspiracy theories
▼ + stars: | 2024-02-08 | by ( Simone Mccarthy | Chris Lau | ) edition.cnn.com time to read: +10 min

“(He) played in five of the six preseason games and only missed the game in Hong Kong, China! Don’t come to China, China doesn’t welcome you,” another user wrote in a post liked by 20,000 others. “Why didn’t Messi play in Hong Kong or participate in the handshake with HK (the Hong Kong) chief executive? Messi's no-show sparks an outcry in Hong Kong on February 4, 2024. One social media user noted that it was not only Messi who played in Tokyo, but not Hong Kong.

Persons: Lionel Messi, Messi didn’t, Messi, “ Messi, Hong Kong, Kenneth Fok, Hu Xijin, didn’t Messi, ” Hu, ”, Louise Delmotte, “ Don’t, Hong, David Beckham, Beckham, Gerardo “ Tata ” Martino, Luis Suárez couldn’t, Philip Fong, “, nimbly, Regina Ip, ” “ Messi, Kenneth Chan, Taylor Swift, ’ Organizations: Hong Kong CNN, Sunday, Major League Soccer, Inter Miami, Vissel, Hong, CNN, Weibo, HK, Global Times, Inter, National Basketball Association, Houston Rockets, Soccer, Ardent, Messi, Argentina national, Australia, Inter Miami's, Getty, The Inter Miami, Hong Kong Baptist University Locations: China, Hong Kong, Argentine, Japan, Vissel Kobe, Tokyo, Beijing, State, China’s Sichuan, Argentina, AFP, Asia

☆ Lionel Messi expresses regret over not being able to play in Hong Kong
▼ + stars: | 2024-02-06 | by ( Teele Rebane | ) edition.cnn.com time to read: +1 min

CNN —Argentine soccer star Lionel Messi expressed regret Tuesday over not being able to play in a friendly match in Hong Kong. Messi, who plays for Major League Soccer team Inter Miami, did not step onto the pitch to play against a Hong Kong XI on Sunday, causing outrage among fans. A sellout crowd of 40,000 attended the match in Hong Kong, but the occasion ended acrimoniously when fans booed, jeered and called for ticket refunds as Messi remained on the bench. Even the Hong Kong government said it was “disappointed” that the eight-time Ballon d’Or winner wasn’t brought on during the match. Messi added that he could understand why people were upset that he had not participated in the match, but expressed hope that Miami could play in Hong Kong again at some point.

Persons: Lionel Messi, Messi, ” Messi, clamoring, jeered, ”, Ballon, wasn’t, Gerardo “ Tata ” Martino, Luis Suárez Organizations: CNN, Major League Soccer, Inter Miami, Hong, Hong Kong XI, Inter, Miami, Wednesday, Vissel Locations: Argentine, Hong Kong, Tokyo, Kobe, Vissel Kobe

☆ Hong Kong officials demand answers for Lionel Messi no-show
▼ + stars: | 2024-02-05 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The Hong Kong government’s repeated requests for Lionel Messi to play in a sell-out soccer match went unanswered Sunday, a city official said, as cheers turned to jeers for the Argentine soccer legend. Meanwhile, the Hong Kong government, which provided more than $2 million in grants to the match organizer, also said it was “extremely disappointed” the star did not play. Fans make their feelings clear after Lionel Messi's Hong Kong no-show. ‘We do feel a bit scammed’“Messi mania” had captured Hong Kong with Inter Miami’s arrival on Friday as fans swarmed the Major League Soccer team’s hotel. Meanwhile, the stadium reached full capacity during the Inter Miami’s open training session the evening before the match.

Persons: Hong Kong government’s, Lionel Messi, jeers, –, Messi, Ballon, Kevin Yeung, XFEST, Lionel Messi's, Justin Chin, Yeung, “, ” Yeung, Gerardo “ Tata ” Martino, ‘, ’ “ Messi, ”, Ada Kam, Luis Suárez Organizations: Hong Kong CNN, Hong Kong, Inter Miami’s, Hong, Hong Kong XI, Culture, Bloomberg, Getty, Inter, Major League Soccer team’s, CNN, Nigeria Locations: Hong Kong, Hong, Argentine, Lionel Messi's Hong Kong, Miami, Inter Miami’s, Tokyo, China, Argentina, Hangzhou, Ivory Coast, Beijing

☆ Lionel Messi no-show ignites booing and calls for refunds at Inter Miami match in Hong Kong
▼ + stars: | 2024-02-04 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Thousands of soccer fans in Hong Kong were left disappointed when Argentine superstar Lionel Messi failed to take to the field in a friendly match for Inter Miami on Sunday. What started with overwhelming cheers and rapture ended in boos and calls for refunds in the sold-out, 40,000-seat Hong Kong Stadium. Inter Miami — out to prove a point having gone winless during a worldwide pre-season tour — comfortably defeated a Hong Kong XI 4-1 in an event branded as Tatler XFEST Hong Kong. According to Reuters, tickets went on sale in December and cost between 880 and 4,880 Hong Kong dollars (about $113 and $624). “This whole Messi in Hong Kong thing has been building up for quite some time.

Persons: Lionel Messi, —, Messi, Ballon, Hong, “ Messi, Luis Suárez, Jordi Alba, Sergio Busquets, Louise Delmotte, David Beckham, Messi ”, ”, XFEST, Suárez, “, Gerardo “ Tata ” Martino, Leo, Luis, ” Martino, apologetically, Hong Kong, “ Leo, Suarez, ” Suárez, Martino, Yapp Hung, Yapp, Messi superfan Christer Leung, ” Leung, Lionel, Lam Yik, Reuters “ Messi Organizations: Hong Kong CNN, Argentine, Inter Miami, Hong Kong Stadium, Inter Miami —, Hong, Reuters, CNN, Miami, Al, MLS, Major League Soccer, Hong Kong XI, fai, Messi, Argentina, ’, Inter, USA, Sports, Ardent, Argentina national, Australia, Nigeria, Vissel Kobe Locations: Hong Kong, Saudi Arabia, America, China, Beijing, Argentina, Ivory Coast, Hangzhou, Japan

☆ I flew 13 hours in business class on Air India from New York to Delhi. The seat was awkward and offered no privacy, but wasn't as bad as I feared.
▼ + stars: | 2024-02-01 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

Air India is getting a makeover. During its golden days, Air India was considered a top-tier carrier with fancy on-board bars, lounges, and luxe cabins. However, the government took over in the 1950s and ran Air India into disarray. Under Tata, however, the company has invested hundreds of millions into a total revamp — including everything from updated uniforms to fancy new business class seats. AdvertisementTo see the transformation, I tried out Air India's old — and notoriously awkward — Boeing 777-300ER business class product from New York to New Delhi (Business Insider paid a media rate).

Organizations: India, Tata Group, Air, Tata, Boeing, Business Locations: Air India, New York, New Delhi

FORT LAUDERDALE, Fla. (AP) — Inter Miami played six preseason matches last season. It's basically an around-the-world, big-crowd, big-money, bright-spotlight batch of preseason games for Inter Miami, which instantly became a global brand when Messi announced last summer that he was joining the Major League Soccer club. Political Cartoons View All 253 Images“It’s incredible,” said DeAndre Yedlin, the Inter Miami defender who was captain until Messi arrived. But Inter Miami not only understands the value of having Messi, it welcomed this massive preseason stretch in advance of an MLS season that starts Feb. 21. “You have to see how many times these people are going to have this possibility.”The financial benefit of Inter Miami and Messi playing in Saudi Arabia hasn't been revealed.

Persons: Lionel Messi's, Al Nassr, Messi, Cristiano Ronaldo, ”, DeAndre Yedlin, it’s, Leo, he’s, what's, Ballon, Messi —, Germain, Gerardo “ Tata ” Martino, Saudi Arabia hasn't, Sergio Busquets, Jordi Alba, Luis Suarez, LIV Golf, hasn't, ” Messi, Drake Callender, “ Organizations: — Inter Miami, Inter Miami, Al, Dallas, Cotton, Major League Soccer, ” Inter Miami, Argentina, MLS, Inter Miami —, Paris Saint, “, Messi, Saudi, Florida International University, it's, Ronaldo Locations: FORT LAUDERDALE, Fla, Florida, Saudi Arabia, Hilal, Portugal, El Salvador, Hong Kong, Japan, Saudi, Spanish, Riyadh, “

☆ I toured Air India's new Airbus A350 — which it hopes will compete with elite competitors like Emirates and Qatar. See inside.
▼ + stars: | 2024-01-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAir India welcomed its new Airbus A350 in December — a first for the nation's flag carrier — and it's an incredible improvement from the airline's notoriously mediocre product. This story is available exclusively to Business Insider subscribers. The next-generation aircraft represents a new era for Air India, which debuted the Airbus model on Monday. To see the progress, I toured Air India's new A350 widebody at the Wings Airshow in Hyderabad last week — and I think customers have a lot to look forward to.

Persons: — Organizations: Service, India, Airbus, Business, Air India, Tata Group, Air, Wings Locations: Hyderabad

☆ Britain’s Largest Steel Mill to Become Greener, at a Cost of Jobs
▼ + stars: | 2024-01-19 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

Although the announcement was not a surprise, unions representing workers at the plant said they were angry that their proposals to save jobs had been rejected. The plant employs around 4,000 people, and it was unclear how many of the job cuts would take place at Port Talbot; Tata employs around 8,000 people in Britain. Electric steel making, which is more common in the United States than in Europe, tends to employ fewer workers. The government says the shift would ensure that steel making continued at the site and would cut Britain’s overall greenhouse gas emissions by 1.5 percent. The unions expressed skepticism that an electric furnace would be capable of producing metal of sufficient quality for some demanding applications, including automobile body panels and food and beverage cans.

Persons: Tata Organizations: Port Talbot, Tata, Tata Steel, steelworkers, Community Locations: Port, Britain, United States, Europe

Political Cartoons View All 253 ImagesThe news is a major blow to Port Talbot, a town of about 35,000 people whose economy has been built on the steel industry since the early 1900s. At its height in the 1960s, the Port Talbot steelworks employed around 20,000 people, before cheaper offerings from China and other countries hit production. More than 300,000 people worked in Britain’s steel industry in 1971; by 2021 it was about 26,000. Last year the U.K. government gave Tata up to 500 million pounds ($634 million) to make the Port Talbot steelworks greener. “We saw it with the coal industry and now it is happening again with the steel industry.

Persons: ”, T.V, Narendran, Port, Tata, “, Tata's, Anthony Slaughter Organizations: Tata Steel, Tata, ” Tata Steel, Unions, Port Talbot, Commons Library, Community, Green Party Locations: Port Talbot, Wales, China, Port

☆ Tata Steel to close UK blast furnaces with loss of up to 2,800 jobs
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: +1 min

Tata Steel said on Friday it will close its two blast furnaces in Britain by the end of this year, resulting in up to 2,800 workers potentially losing their jobs at its steelworks plant in Wales. Tata Steel said it would start a consultation process as part of its restructuring plan. "The course we are putting forward is difficult, but we believe it is the right one," Tata Steel Chief Executive T V Narendran said. Tata Steel employs more than 8,000 people in the UK, but the warning that as many as 3,000 of those jobs could go came in September when the government announced a funding package to help safeguard 5,000 jobs. The electric arc furnaces are operated by fewer workers compared to the blast furnaces.

Persons: Tata Steel, V Narendran Organizations: Tata, Tata Steel Locations: Britain, Wales, India

The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.

Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat

A pedestrian walks past the TATA pop up store with a poster reading 'The Future is AI' ahead of the World Economic Forum (WEF) in Davos, Switzerland, on Sunday, Jan. 14, 2024. Some of the world's biggest companies are pushing their AI products and services with one declaring: "The future is AI." Companies from U.S. semiconductor firm Intel to Salesforce had AI slogans on the properties they took over. The "AI House" was one of the biggest displays on the Davos Promenade. Arjun Kharpal | CNBCU.S. semiconductor firm Intel took over one of the properties on the Davos Promenade with its AI agenda front and center.

Persons: Salesforce, Arjun Kharpal Organizations: Economic, Bloomberg, Getty, Global, Companies, Intel, CNBC U.S, CNBC Locations: Davos, Switzerland, DAVOS, Swiss

☆ IMF warns AI to hit almost 40% of jobs worldwide and worsen overall inequality
▼ + stars: | 2024-01-15 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

The IMF noted that about 60% of jobs could be impacted by AI in high-income nations, and roughly half of these may benefit from AI integration to boost productivity. Comparatively, AI exposure was estimated to come in at 40% in emerging markets and at 26% in low-income countries, respectively. The findings suggest that emerging markets and low-income countries face fewer disruptions from AI in the short-term. The IMF also flagged that AI could affect income and wealth inequality within countries, warning of "polarization within income brackets." The IMF report comes as business and political leaders from around the world gather at the World Economic Forum in Davos, Switzerland.

Persons: Hollie Adams, Kristalina Georgieva, Georgieva, Goldman Sachs, WEF Organizations: Economic, Bloomberg, Getty, Monetary Fund, D.C, IMF Locations: Davos, Switzerland, The Washington

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