Business
BT shares slip after Indian billionaire Mittal takes board seats
Shares have dipped in BT after it said Indian billionaire Sunil Bharti Mittal and one his close executives will join the board of the UK telecoms giant.
The company’s shares fell by around 3% in early trading as shareholders took the move as a signal that Mr Mittal will increase his influence on the direction of the firm.
On Monday, BT confirmed that the founder of Indian conglomerate Bharti Enterprises will become a non-executive director of BT and join the firm’s nominations committee.
It said Gopal Vittal, vice chairman and managing director of Bharti Airtel, will also join the BT board as a non-executive director.
BT said the appointments are part of a “relationship agreement” between the company and Bharti Global.
It means the group will be able to hold two roles on BT’s board while it holds a stake of at least 20% in the business.
This would reduce to one seat on the board if the stake falls to between 10% and 20%.
It comes after Mr Mittal’s Bharti vehicle bought a 24.5% stake in BT from French media and telecoms tycoon Patrick Drahi last year.
BT chairman Adam Crozier said: “We’re delighted to welcome Sunil and Gopal to the board of BT.
“They bring significant experience and global perspectives in the telecoms industry, and we look forward to their contribution to the board and to the future success of BT Group.”
Mr Mittal said: “I am delighted to be joining the board of BT, an iconic company delivering critical infrastructure and services for the UK.
“I look forward to working with chairman Adam Crozier, the board and chief executive Allison Kirkby to drive forward the strategy to win in the market and deliver world-leading services for BT’s customers.”
Business
Asda boss rejects profiteering claims as petrol price tops 150p
Motorists are facing higher fuel prices ahead of Easter break due to the conflict in the Middle East, the RAC says.
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Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India
Hyderabad: Pharma player Hetero on Friday said it has rolled out exports of its generic semaglutide injection portfolio as part of a multi-year plan to widen access to treatments for type 2 diabetes and obesity in more than 75 countries.The Hyderabad-based pharmaceutical company said initial rollouts are under way in Africa, Asia and the Middle East, with additional launches planned in other markets subject to regulatory approvals.The injectable therapies will be sold under the brand names Truglyx, Rolmodl and Moto G. Semaglutide belongs to the GLP-1 class of medicines, which are used in diabetes care and weight management.Hetero said the export launch is part of its broader strategy to improve access to advanced cardio-metabolic therapies, particularly in emerging markets.The company said the products will be offered in multi-dose disposable pen devices designed in line with innovator formats and will be available in several strengths, including 0.25 mg, 0.5 mg, 1 mg, 2 mg, 1.7 mg and 2.4 mg, allowing dosing flexibility for both diabetes and obesity treatment.Hetero said it is also awaiting approval from India’s Central Drugs Standard Control Organisation (CDSCO) after completing clinical trials in type 2 diabetes and obesity and plans an India launch after regulatory clearance.Hetero managing director Dr Vamsi Krishna Bandi said the company aims to provide high-quality, affordable generic semaglutide through a single global product platform backed by its manufacturing and development capabilities.He said Hetero would use its commercial networks across Asia, the Middle East, Africa and Latin America to support supply and access. The Hyderabad-headquartered Hetero operates in more than 145 countries and employs over 30,000 people.
Business
India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India
Commerce and industry minister Piyush Goyal on Friday met US Trade Representative Jamieson Greer and reviewed the next steps in negotiations for the proposed India-US bilateral trade agreement (BTA).The meeting took place on the sidelines of the 14th ministerial conference (MC14) of the World Trade Organisation in Yaounde, Cameroon, where both sides also exchanged views on issues related to the WTO agenda.“Had a very productive discussion with @USTradeRep Jamieson Greer on the sidelines of the WTO Ministerial Conference. Exchanged views on the #WTOMC14 agenda, next steps in the India-US BTA negotiations and explored ways to further deepen our economic cooperation and bilateral trade ties,” Goyal said in a social media post.The development comes amid ongoing efforts by both countries to finalise an interim trade pact. Last month, India and the US announced that they had finalised a framework for the first phase of the agreement, though it is yet to be signed.The two sides had earlier announced a trade deal on February 2, followed by a joint statement on February 7 outlining the contours of the agreement.As part of the framework, the US had agreed to reduce tariffs on Indian goods to 18%. However, the tariff structure has since undergone changes after the US Supreme Court struck down sweeping tariffs imposed under earlier measures.Following the ruling, US President Donald Trump introduced a 10% tariff on all countries for a period of 150 days starting February 24.In view of these developments, a planned meeting between chief negotiators of India and the US — aimed at finalising the legal text of the agreement — has been postponed. The pact was earlier expected to be signed this month.An official had earlier said that the interim trade agreement would be signed once the new global tariff framework of the US is fully in place.
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