BMW warns of over $1.1 billion antitrust-related charge

(Bloomberg) — BMW AG said it’s likely to take a charge exceeding €1 billion ($1.1 billion, Dh4 billion) related to the European Union’s investigation into German automakers allegedly colluding to delay the roll-out of cleaner-emission cars. The provision will drag on first-quarter financial results and reduce automotive profit margin this year to as low as […]

G20 must tackle root causes of trade tensions that threaten growth — EU

BUCHAREST: The European Union will tell a meeting of finance leaders from the world’s 20 biggest economies next week that they must all tackle the root causes of global trade tensions because they are putting global growth at risk, an EU document showed. Finance ministers and central bank governors of the Group of 20 (G20) […]

Tata Steel posts record Indian output after Bhushan purchase

Mumbai. Tata Steel Ltd’s Indian steel output rose to a record in its latest financial year thanks to its 2018 acquisition of Bhushan Steel Ltd assets, potentially making Tata the country’s biggest producer. Production rose 35 per cent to 16.79 million tonnes in the year ended March 31, as Bhushan Steel added 4.2 million tonnes […]