Indian businesses in SoCal brace for 25% tariff hike
A jar of pickled mango, a popular Indian condiment, costs $2.99 at Pioneer Cash & Carry in Artesia.…
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「ArcelorMittal SA CEO sees no way of avoiding longs closure, says wind down to start in Jan
ArcelorMittal South Africa CEO Kobus Verster
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The loss was attributed largely to electricity load curtailment, implemented at energy-intensive firms at high stages of #loadshedding, which had again been escalated to between Stage 4 and 6 when #ArcelorMittal #SouthAfrica made its wind-down announcement.
It also came amid increased strain between business and government, more generally. Automotive group #Volkswagen issued a warning about the company’s South African operations, citing loadshedding and #logistics problems as key concerns, while #platinum producers have indicated that job cuts are inevitable.
Meanwhile, Minister in the Presidency Khumbudzo #Ntshavheni, who was widely condemned for suggesting that the private sector was engineering the collapse of the government when commenting on a rand manipulation-related settlement, appeared to double down in an opinion piece penned for the #BusinessDay.」
ArcelorMittal South Africa CEO Kobus Verster believes there is no immediate prospect of addressing the structural issues undermining the financial viability of the group’s long-products business and tells Engineering News that the operations will begin ramping down during January, when they are scheduled to stop receiving steelmaking materials, such as iron-ore. Verster provided this bleak assessment in an interview following the JSE-listed company’s announcement that it would be initiating consultations with unions and customers on the closure of its operations in Newcastle and Vereeniging, as well as ArcelorMittal Rail and Structural, which relies on intermediate products currently produced at Newcastle.
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Stephan Lichtenauer | נח סתו
General Strike Now
Zecharias Zelalem