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ArcelorMittal says U.S. buy won't impact $15 billion debt target

BRUSSELS (Reuters) - ArcelorMittal's <ISPA.AS> acquisition of a U.S. plant jointly with Nippon Steel & Sumitomo Metal Corp <5401.T> will not affect the world No. 1 steelmaker's debt targets, ArcelorMittal's chief executive said on Sunday. ArcelorMittal unveiled the $1.55 billion takeover of ThyssenKrupp's <TKAG.DE> U.S. steel finishing plant in Calvert, Alabama, on Friday, saying it would finance the deal via equity and debt at the joint venture level.

ArcelorMittal cuts losses, sees light as steel cycle rises

ArcelorMittal has pulled out of the bottom of the slump in the global steel market, the group reported on Thursday, saying it had cut losses in the third quarter and holding targets for operations and debt. The net loss of the third quarter was cut by two thirds from the equivalent figure last year to $193 million (143 million euros)from $652 million. The price of shares in the group, by far the biggest steel-maker in the world, was showing a gain of 3.51 percent to 12.38 euros in early trading.

Hollande returns to face 'betrayed' Florange steel unions

By Gilbert Reilhac FLORANGE, France (Reuters) - President Francois Hollande, seeking to regain the support of steel workers angered over his failure to stave off redundancies, said on Thursday he would return to their plant every year to ensure promised investment went ahead. With his approval ratings at all-time lows and unemployment above 10 percent, Hollande is looking to traditional backers of his Socialist Party to stop the advance of the far-right National Front before municipal and European polls next year.

ArcelorMittal says loses arbitration case against Senegal

The Senegalese government has won an initial ruling in an international arbitration case concerning an iron mining project in the southeast of the country, steel giant ArcelorMittal said Wednesday. "The arbitral tribunal has now issued its first award and decided that Senegal is entitled to terminate the 2007 agreements" but the question of possible damages has yet to be considered, ArcelorMittal said of the ruling by the Paris-based Court of Arbitration of the International Chamber of Commerce.

ArcelorMittal says loses arbitration case against Senegal

The Senegalese government has won an initial ruling in an international arbitration case concerning an iron mining project in the southeast of the country, steel giant ArcelorMittal said Wednesday. "The arbitral tribunal has now issued its first award and decided that Senegal is entitled to terminate the 2007 agreements" but the question of possible damages has yet to be considered, ArcelorMittal said of the ruling by the Paris-based Court of Arbitration of the International Chamber of Commerce.

ArcelorMittal shares fall after big loss, profit warning

Steelmaking giant ArcelorMittal reported a big loss for the second quarter on Thursday and downgraded its targets for the year, but said it had reached the low point of the downturn for its business. The overall figures gave a grim picture of results for the first half, even though the group said it was making progress on dealing with weak demand and over-capacity in Europe.

ArcelorMittal Q2 earnings fall but says worst of downturn is behind

AMSTERDAM - ArcelorMittal SA, the world's largest steelmaker, has cut its forecasts for the full-year as it reported a fall in production, shipments and earnings during the second-quarter due to continued weak demand and low raw material prices. But the Luxembourg-based company says that the worst of a market downturn is behind it now and with the outlook in Europe improving, it expects a stronger second half.

ArcelorMittal reports first quarter loss; repeats full year targets for 2013

AMSTERDAM - ArcelorMittal SA, the world's largest steelmaker, slumped to a first-quarter loss, even as the company's chief executive said restructuring efforts are starting to pay off and the steel market is stabilizing after a big reverse in the middle of last year. The Luxembourg-based company's business was hit by Europe's ongoing economic problems and slowing growth in China. In the same quarter last year, it benefited from a tax windfall.

French steel furnaces mothballed amid 'broken promises'

The closure of steel blast furnaces at a small-town plant on Wednesday marked not just the end of an era but, for many workers, a "broken promise" by French President Francois Hollande. The ArcelorMittal-owned Florange plant, in the heart of the northeastern Lorraine region, has become a symbol for the dismantlement of France's industrial sector, from which 750,000 jobs have disappeared over the past decade.

CORRECTED: French steel furnaces mothballed amid 'broken promises'

As gas lines to blast furnaces at a small-town plant are gradually cut off on Wednesday, it marks not just the end of an era, but for many workers, a "broken promise" by French President Francois Hollande. The ArcelorMittal-owned Florange plant, in the heart of the northeastern Lorraine region, has become a symbol for the dismantlement of France's industrial sector, from which 750,000 jobs have disappeared over the past decade.
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