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Tata Steel ties up with clutch of banks to raise $4 billion debt | Latest News & Updates at Daily News & Analysis

Tata Steel ties up with clutch of banks to raise $4 billion debt - Tata steel, India's largest steel producer, has tied up foreign debt of nearly $4 billion from a clutch of foreign and state-owned banks. The loan, designated in Euro and sterling pound, is aimed at refinancing the existing debt the company raised to acquire the UK-based steel company Corus Group Plc. The company had raised $12.9 billion for the acquisition in 2007. Of this, State Bank of India (SBI) is providing the single...

dnaindia.com

2 hrs ago

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dnaindia.com

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Scottish Referendum Preview: In 170 Years, Voters Chose "Independence" 88% Of The Time

Ahead of Thursday's critical Scottish Independence vote, we thought some context was worthwhile. As The Guardian notes, history shows that when people are asked, they almost always say yes to independence. Every election, country and place’s history is unique and different. Scotland is no exception. Yet, when given the opportunity, The Guardian finds countries tend to vote in favour of independence, and to do so decisively - across 50 votes since 1846, the vote for independence came out on top...

zerohedge.com

3 hrs ago

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zerohedge.com

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Ukraine Currency Crashes To Record Low As IMF Blasts "Gross Abuses"

Despite celebrations of de-escalations and truce in US equity markets (by asset-gathering commission-takers), the situation continues to go from bad to worse in the nation almost forgotten now that ISIS is stealing American headlines. The Hryvnia plunged 7.5% this morning - its biggest single-day drop on record - following the release of a scathing IMF letter and devaluation warnings from BofA. The IMF blasted Ukraine's "premature emission of extra money," and demanded it "immediately halt these...

zerohedge.com

1 hr ago

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zerohedge.com

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The G-20 to the Rescue?

The G-20’s upcoming meeting in Brisbane, Australia, comes at a time when a precarious global economy requires big decisions to be made. But it is far from clear who will provide the decisive voice needed to set a bold agenda – and then shepherd its implementation.

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project-syndicate.org

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The Price of Scottish Independence

The costs of secession are a matter of choice, not of inevitability. If cool heads prevail on all sides, Scottish independence could proceed at a relatively low cost, sparing the successor states, the EU, and other parts of the world considerable instability.

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project-syndicate.org

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Economic Policy Treats Symptoms, Not Underlying Causes

The economy we have now is like a mental patient, drugged up with so many antidepressants, antipsychotics, and mood stabilizers that the root of his problems has become undetectable. It sounds Utopian, but economic growth really is a panacea that improves standards of living for everyone in nearly every way. But instead of pursuing economic growth, the government wastes its time with piecemeal patches, trying to plug a hole whose cause remains unabated.

zerohedge.com

2 hrs ago

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zerohedge.com

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