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Essar Energy says no plans to close Stanlow refinery

(Reuters) - Essar Energy Plc <ESSR.L> has no plans to close its Stanlow oil refinery in Britain, the company said on Monday, in response to a newspaper report that the troubled plant is under threat from "uneconomic conditions". Shares of the company fell as much as 4.5 percent on Monday. City A.M., a free newspaper distributed in London's financial district, reported that the future of Britain's second-largest oil refinery was under threat from an influx of refined products from the United States.

Vodafone India wins spectrum licences for £1.9bn

Vodafone's Indian division has won spectrum licences for £1.9 billion ($3.2 billion, 2.3 billion euros), the mobile phone giant said on Friday, tapping further into emerging markets amid tough trade in Europe. Analysts described the move as "astute" for the London-listed company, which is flush with cash from the recent sale of its US joint-venture stake to partner Verizon for $130 billion. "Vodafone India has been awarded spectrum licences in 11 telecom circles in the Indian government's 900 MHz and 1800 MHz spectrum auction," it announced in a brief statement.

Vodafone wins final India approval for $1.6 billion deal to fully own unit

NEW DELHI (Reuters) - Vodafone Group Plc won the Indian cabinet's approval for its $1.6 billion deal to buy out minority partners in its unit in the country, Information and Broadcasting Minister Manish Tewari said on Thursday. Vodafone, which entered India in 2007 by buying Hutchison Whampoa's local cellular assets in a $11 billion deal, directly and indirectly owns a combined 84.5 percent of Vodafone India, the country's No.2 telecoms company by users and revenue.

India's Essar sues Greenpeace for $80 mn for defamation

Indian energy group Essar said Tuesday it is suing Greenpeace for defamation over a giant banner unfurled on the front of the conglomerate's headquarters that read "We kill forests". Activists scaled the building in central Mumbai last week and unfurled the banner to protest at the company's mining plans in Madhya Pradesh state, which activists say will damage one of India's oldest forests. Essar did not specify a figure, but Greenpeace India said the group was seeking five billion rupees (79.6 million dollars) in damages.

Essar Steel Algoma granted pension relief for defined plans from Ont. government

SAULT STE MARIE, Ont. - Essar Steel Algoma Inc. says the Ontario government has approved a regulation providing funding relief for the company's defined benefit pension plans. It says the new rules, retroactive to Dec. 1, allow for fixed payments over the next three years and extend the amortization period until 2024.

Vodafone plans to boost stake in Indian unit: source

By Kate Holton and Devidutta Tripathy LONDON/NEW DELHI (Reuters) - Vodafone intends to increase its stake in its Indian subsidiary after the country cleared foreign companies to take full ownership of local carriers, a source familiar with the group's plans said on Monday. The British company is set to seek approval in the coming weeks from the Indian government's Foreign Investment Promotion Board to buy stakes from minority partners, the source said, adding that it has yet to decide if it will buy out all partners.

United Steelworkers reaches 3-year deal for Essar Steel Algoma workers

SAULT STE. MARIE, Ont. - The union representing workers at Essar Steel Algoma Inc. says it has signed a three-year agreement for its members. The United Steelworkers Local 2251 said Wednesday the new contract includes cost-of-living adjustments, increased health benefits and wage increases ranging from two or three per cent. The contract runs from Aug. 1, 2013 to July 31, 2016. The union called the contract "good news" for its members in Sault Ste. Marie. The United Steelworkers has a membership of 225,000 across the country.

United Steel Workers ratify new contract with Essar Steel Algoma

SAULT STE MARIE, Ont. - Essar Steel Algoma Inc. says members of United Steel Workers Local 2251 in Sault Ste Marie, Ont. have ratified a new three year contract. The agreement covering production and trades employees was hammered out last week and is effective Aug. 1. In a release issue late Friday night, Essar Steel Algoma says ratification of the agreement gives the business the stability it needs, while providing employees, customers and suppliers the security they need.

Steelworkers union, Essar Algoma Steel reach tentative 3-yr labour contract

SAULT STE MARIE, Ont. - Essar Steel Algoma Inc. and the United Steel Workers union have a tentative three-year labour agreement. The company says the agreement will provide stability during this market cycle. Essar Steel Algoma says the two sides have agreed to amend the defined benefit pension plan, but didn't announce details. USW Local 2251 posted a brief message on its website saying the agreement had been reached just before midnight Thursday night.

EU antitrust watchdog put to test with Vodafone, Hutchison deals

By Leila Abboud and Foo Yun Chee PARIS/BRUSSELS (Reuters) - European regulators will soon weigh in on two telecom acquisitions worth about 11.5 billion euros, in key test cases for a sector that executives believe needs consolidation to counter falling sales and boost network investments.
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