Tata Steel plans a shareholders' meet on Jan 25, considering the merger of its subsidiary, Indian Steel and Wire Products. The National Company Law Tribunal's directive prompts this move, aiming to seek approval for the proposed scheme. The meeting, conducted via video conferencing, aligns with NCLT guidelines. Tata Steel, closing 1.91% higher at ₹133.50 per share on Friday, had earlier approved merging multiple subsidiaries, anticipating benefits like enhanced shareholder value and operational efficiency. CEO TV Narendran aims to complete the merger, involving seven subsidiaries, in the current financial year, contingent on regulatory clearances.

Once a cornerstone of Japan's electronics dominance, Toshiba concludes a 74-year stint on the stock market, succumbing to scandals and financial woes. Triggered by a 2015 accounting scandal, overstating profits by $1.59 billion, Toshiba faced subsequent governance issues and allegations of suppressing foreign investors. A nuclear business collapse, asset sales, and shareholder clashes ensued. In 2022, eight buyout proposals emerged, leading to a $14 billion takeover by Japanese investors, notably Japan Investment Corp (JIC). The uncertainty surrounds Toshiba's future strategic direction and national security implications, given its critical operations and a workforce of 106,000.

The UK's inflation rate unexpectedly fell to 3.9% in November, the lowest in over two years, raising hopes the Bank of England will start cutting interest rates sooner than expected. The fall was largely driven by declining petrol prices. However, while inflation is declining from its peak in 2022, prices overall remain high and many households continue to struggle with high borrowing costs and energy bills. Some economists now predict the Bank may begin lowering rates in the first half of 2024 to stimulate the economy, much earlier than previously thought. But inflation remains almost double the Bank's 2% target so rate cuts are unlikely in the very near future.

The UK's inflation rate fell more than expected to hit a 15-month low of 3.9% in November, buoyed by declining transport, recreation, food and non-alcoholic beverage prices. This marked the first monthly decline since September 2021 and undershot the 4.4% consensus forecast. Core inflation also hit a lower-than-anticipated 5.1% annually. The larger-than-forecast drop challenges the Bank of England's hawkish stance that rates need to stay elevated for longer to control inflation. Experts suggest easing pressures signal the BoE was too cautious on rate cuts as a weakening economy may compel policy loosening by autumn. The data brings relief on mounting cost of living woes after inflation hit a 41-year high of 11.1% in October.

Savitri Jindal, India's richest woman, experienced the highest net worth rise among Indians in the past year, according to the Bloomberg Billionaires Index. Her fortune increased by $9.6 billion, bringing her total wealth to around $25 billion, surpassing Wipro's Azim Premji. In contrast, Mukesh Ambani, Asia's richest man, registered a rise of nearly $5 billion with his total wealth now at $92.3 billion. Jindal is chairperson of the OP Jindal Group running listed firms like JSW Steel, JSW Energy, and Jindal Stainless. Savitri Jindal's significant wealth growth positions her as the fifth-wealthiest individual in India, marking a remarkable financial ascent. Gautam Adani was the only Indian billionaire whose net worth dropped during this period, by $35.4 billion to $85.1 billion. But he remains the second-richest Indian after Ambani.

The IMF projected India's economy will expand 6.3% in the current and next fiscal year, backed by digital infrastructure and government capital spending. While lauding India's growth prospects, the IMF sees potential for even higher expansion with more reforms and greater labor participation. However, it pegged next year's growth lower than RBI's 7% forecast. The IMF expects inflation, driven by volatile food prices, to moderately decline toward the 4% target though it will remain rocky. Despite November inflation of 5.55% being within the 2-6% tolerance band, the IMF says price rises continue overshooting the mid-point target. It stressed India has room to unleash higher growth by implementing comprehensive reforms and unlocking more human capital.

Share prices of several JSW Group companies fell 1-2% on Monday after a rape complaint was registered against managing director Sajjan Jindal. As per the complainant, she first met Jindal in October 2021 and he started getting overly personal and forced himself on her after repeated unwanted advances. Jindal has denied the allegations and termed them false and baseless. He says he will provide full cooperation in the probe. The complaint was initially not registered by the BKC police station until ordered by a court. JSW Steel share prices were down 1.94%, JSW Holding by 1.63% by Monday afternoon following news of the complaint against the group's MD.

Tata Steel's Port Talbot site confronts discord as Unite union opposes a plan to cut 3,000 jobs, sparking tensions with Community and GMB unions. Unite, representing 4,000 steelworkers, rejects a joint decarbonization plan, urging the UK to double steel production by 2035. Unite's Sharon Graham emphasizes winning the green steel market and demands investment for job protection. The proposed £12 billion national investment aims to boost industry revenue. The report calls for British steel use in public contracts, projecting a £7 billion boost to the economy. Tata, engaged in talks, remains committed to greener steelmaking, but formal plans are pending.

Indian billionaire Gautam Adani's conglomerate has purchased a 50.5% share in news agency IANS India Pvt Ltd, marking the group's latest expansion into media. Adani Enterprises made the acquisition through its subsidiary AMG Media Networks Ltd, which operates the group's media properties including broadcaster NDTV. The deal's financial details remain undisclosed. IANS reported revenues of Rs 11.86 crore last fiscal year. AMNL will now appoint IANS's board and directors, taking operational and managerial control. The purchase grows Adani's growing media portfolio after last year's forays into digital outlet Quintillion and acquiring most NDTV shares.

The BSE Sensex achieved a historic milestone, crossing the 71,000 mark for the first time, with major gains from companies like Infosys, Tech Mahindra, and more. Market capitalization reached ₹357 lakh crore. The Sensex, launched in 1986, reflects India's financial health and has surged around 12,400 points in eight months. Asian markets also traded positively, while the US markets closed higher. This comes after the Sensex surpassed 70,000 earlier in the week, marking a continuous upward trend since March when it stood at 57,527. Nifty 50 also hit 20,000 in late November.