Downgrade Warning

Construction workers work at a site as the sun sets in the northern Indian city of Chandigarh December 16, 2006. REUTERS/Ajay Verma/Files

S&P affirms negative outlook on India, says chances of downgrade remain

Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday.  Full Article 

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Hollande to discuss steel plant options with Mittal

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France's President Francois Hollande waves as he arrives at the European Union (EU) council headquarters for an EU leaders summit discussing the EU's long-term budget in Brussels November 23, 2012. REUTERS/Francois Lenoir

France's President Francois Hollande waves as he arrives at the European Union (EU) council headquarters for an EU leaders summit discussing the EU's long-term budget in Brussels November 23, 2012.

Credit: Reuters/Francois Lenoir

PARIS | Tue Nov 27, 2012 10:41pm IST

PARIS (Reuters) - French President Francois Hollande said before meeting the chief executive of steelmaker ArcelorMittal on Tuesday that their discussion would touch on the possibility of nationalising a steelmaking site temporarily to save jobs.

Asked during a news conference if the options to keep two threatened blast furnaces operational included a temporary nationalisation, Hollande replied: "That is among the subjects we are discussing."

(Reporting By Nicholas Vinocur; Editing by Mark Heinrich)
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