Tesco to cut 1,200 head office jobs
LONDON Tesco will cut 1,200 jobs at its head office to simplify its operations, a spokesman said on Wednesday.
GOA, India A group led by Russian oil major Rosneft (ROSN.MM) will invest around $12.9 billion (10.37 billion pounds)in India's Essar Oil ESRO.CL, Chief Executive Igor Sechin told reporters on Saturday.
Sechin said a refinery and port owned by the Indian firm were worth around $10 billion and $2.9 billion respectively.
India and Russia signed a deal on Saturday to pave the way for a group led by Rosneft to acquire Essar.
Officials from Russian lender VTB (VTBR.MM), which is giving Essar $3.9 billion in credit for debt reconstruction, said Rosneft would pay around $3.5 billion for its stake in Essar, the same amount as European trader Trafigura and Russian fund UCP.
(Reporting by Denis Pinchuk; Writing by Jack Stubbs; Editing by Andrew Heavens)
LONDON The travel industry risks going back to the "medieval age" if its demands are not met when Britain leaves the European Union, tour operator Thomas Cook's chief executive said on Wednesday.
LONDON If shifts in major banks' currency views are anything to go by, Tuesday's speech by European Central Bank Governor Mario Draghi may mark an early end to the dollar's third big rally since the late 1970s.