News digest: Essar Steel sale, CBI vs CBI, Google sacks employees, and more

Arcelor will jointly own and operate ESIL in partnership with Nippon Steel & Sumitomo Metal Corporation

Lenders ignore Ruias’ offer 

Lenders to Essar Steel have spurned the Rs 543-billion settlement offer from the promoters and approved ArcelorMittal’s resolution plan for the debt-ridden company. The resolution professional for Essar Steel on Friday filed ArcelorMittal’s plan with the Ahmedabad Bench of the National Company Law Tribunal (NCLT), but the road to approval is likely to be riddled with legal challenges. Read more 

Adidas runs past rivals,  grows net profit by 53%

German sportswear group Adidas has managed to grow the net profit of its India business by 53 per cent in 2017-18 — taking its margin beyond the 10 per cent mark, which no multinational in this space could cross for years. Its net profit for the year stood at Rs 1.74 billion, compared to Rs 1.13 billion a year ago, documents available at the Registrar of Companies (RoC) show. Read more

SC orders CVC to complete Verma probe in two weeks

The Supreme Court on Friday said it would supervise the inquiry against CBI Director Alok Verma and the probe should conclude in two weeks. It also appointed former Supreme Court judge Justice A K Patnaik to monitor the investigation. Read more

Tata group independent directors among the best paid

Independent directors of Tata group companies earned the most in the financial year 2017-18, shows the data drawn from India’s top 30 companies that constitute the BSE Sensex. Read more

Google sacks 48 employees over Sexual Harassment 

Google has fired around 48 people for sexual harassment in the last two years. According to an email sent to Fox News by Google Chief Executive Officer (CEO) Sundar Pichai, people from the management who were accused of sexual misconduct were also sacked from the company. Read more