Lloyds to shut Indian call centre
622588
Lloyds TSB, the UK's fifth biggest bank, is closing its call centre in Mumbai - but more back office work is being outsourced to India
515168
Insurance firm Royal & Sun Alliance says it is cutting 1,100 jobs in the UK and moving the posts to India.
476331
HSBC Holdings Plc , Europe's biggest bank, said on Friday that it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking an $880 million writedown, because the business is no longer sustainable.
241892
Morgan Stanley  on Wednesday  said it will eliminate 1,000 jobs as it scales back its U.S.  residential mortgage operations and closes its British  residential mortgage lending business, Advantage Home Loans.
675587
(InfoWorld) - British mobile services company Vodafone Group has reserved the right to terminate its agreement with Hutchison Telecommunications International Ltd. (HTIL), if a "prohibition" comes in the way of the closure of itsÂ $11.1 billion acquisitionÂ of a controlling stake in Hutchison Essar, an Indian mobile services company. In a filing to the Hong Kong stock exchange, HTIL has said that the agreement between Vodafone and HTIL provides for "certain termination rights arising as a result of circumstances tied to the existence of a prohibition." Prohibition shall have the meaning ascribed to such items in the agreement that have the effect of prohibiting or restraining the parties from consummating their transaction, it added. Although it does not specify what kind of prohibitions could arise, a lawsuit or other litigation relating to the merger could be interpreted as such. India's Essar Group, which holds 33 percent of the equity in Hutchison Essar, is said to be unhappy with some of the terms of the deal, particularly Vodafone's plans to take Hutchison Essar into an infrastructure sharing arrangement with Bharti Airtel, another Indian mobile services provider. Essar, which also claims the right to first refusal for HTIL's sale of equity in Hutchison Essar, may also move Indian courts, according to informed sources. HTIL entered into an agreement Sunday to sell to Vodafone subsidiary, Vodafone International Holdings, its entire direct and indirect equity and loan interests, held through subsidiaries, in Hutchison Essar. Vodafone announced that the transaction would give it an economic interest of 67 percent in the Indian company, in exchange for $11.1 billion in cash and assumption of $2 billion in debt. In its filing, HTIL said that the transaction is to be completed on April 2, or the sixth business day after conditions such as approval by India's Foreign Investment Promotion Board (FIPB) have been satisfied or waived. HTIL and Vodafone were not immediately available for comment. VodafoneÂ CEO Arun Sarin is in IndiaÂ Wednesday to meet with Indian government officials and also possibly executives of the Essar Group. Vodafone has offered to buy the Essar Group's stake in Hutchison Essar, though Sarin said in a conference call Sunday that he would prefer if they stayed on as partners. Sarin also said Wednesday in Delhi that Essar does not have right of first refusal on the deal.
500639
Insurance giant Norwich Union has announced plans to move its business to India in a move which will lead to compulsory redundancies in Britain.
292921
Lloyds TSB is moving another 1,000 jobs to India, increasing its workforce in Bangalore and Mumbai to 2,500 by the end of next year.
353370
New Delhi: The truck operators tonight decided to call off their seven-day-old strike from Saturday after reaching an agreement with the government on the vexed service tax issue.
467259
Norwich Union is to offshore 950 jobs to India and Sri Lanka next year, with the loss of work in Norwich and York. The insurance giant said it will do all it can to minimise compulsory redundancies by redeploying staff to alternative jobs.
216748
Aviva, the biggest insurer in Britain, says it plans to slash 4,000 jobs in the country, or 11 percent of its British workforce by 2008, and transfer 1,000 positions to India.
204609
As had been predicted, Ford has announced that car production is to cease at Jaguar&#39;s Browns Lane plant in Coventry , England .
328343
State-owned broadcaster MediaCorp and Singapore Press Holdings Ltd. said Tuesday that they will shut down an English language channel and lay off more than 200 employees ahead of a merger of their mass market TV and free newspaper operations.
634212
New Delhi, Aug 28 (PTI) The All India Motor Transport Congress today called off their seven-day old &#39;indefinite&#39; truckers strike after it reached an agreement with the Government on the contentious issue of service tax and various other demands.
575752
Peninsular &amp; Oriental Steam Navigation Co., the UK&#39;s largest ferry and ports operator, plans to cut 1,200 jobs and shut routes to stem losses in the cross-channel ferries business.
677848
TOKYO Japanese banking regulators on Friday ordered Citigroup to close its private banking business here after they found serious breaches in its operations.
377275
Citigroup Inc. said Monday it will close its trust banking unit in Japan within a year, after Japanese authorities ordered the US financial services giant to suspend its private banking business there.
734585
Morgan Stanley  on Wednesday said it will eliminate 1,000 jobs as it scales back its U.S. residential mortgage operations and closes its British residential mortgage lending business, Advantage Home Loans.