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“It appears the impugned order is passed as a knee jerk reaction,” the Madurai bench of the Madras High Court said in an order which provided interim relief to Vedanta. The case will be heard again on Oct. 25. Protesters say the smelter was causing air and water pollution, and a risk to fisheries, and the plant has not been reopened ever since it was shut. India’s junior minister for water resources told lawmakers in July that the ground water in the area where Vedanta’s smelter is located contained heavy metals exceeding acceptable limits for drinking water.
Vedanta says the protests are based on false notions, The company has sought a permanent injunction against the Tamil Nadu state government from interfering with the operations of its copper smelter, and India’s environment court in August ordered an independent probe to decide whether to allow Vedanta to reopen its copper smelter, “We are happy that the high court has only considered pearl cufflinks tiffany the facts in the case and granted a stay to the state’s order which was purely made considering the people’s emotions,” P Ramnath, Chief Executive Officer of Vedanta Ltd’s copper unit Sterlite Copper said in a statement..
(Reuters) - A U.S. judge on Wednesday issued an order finding that China’s ZTE Corp violated probation imposed in March 2017 when the company pleaded guilty for conspiring to evade U.S. sanctions by illegally shipping U.S. goods and technology to Iran. In his order, U.S. District Judge Ed Kinkeade in Dallas extended until 2022 the term of a monitor he appointed to assess ZTE’s compliance with U.S. export control laws. The monitorship originally was scheduled to end in 2020. ZTE is China’s second-largest telecommunications equipment maker and relies on U.S. components for its smart phones and networking equipment.
The probation violation cited by the judge involves the same conduct the U.S, Department of pearl cufflinks tiffany Commerce penalized in April by imposing a ban on U.S, companies selling goods to ZTE, The Commerce Department said ZTE made false statements about disciplining 35 employees involved in the illegal shipping of U.S.-origin goods to Iran, The ban was lifted in July after ZTE reached a settlement with the Commerce Department, As part of that settlement, ZTE agreed to another monitor to who will report directly to the Commerce Department for 10 years..
ZTE announced the probation modifications in Asia on Thursday morning on the Hong Kong Exchange. In addition to extending the monitor’s term, it noted that the company must provide the court-appointed monitor with the same access as the Commerce Department monitor. ZTE ceased major operations after the ban was ordered in April. The company got back into business in July after paying a $1 billion penalty, putting $400 million in escrow, installing a new board and senior management, and agreeing to the new monitor for a 10-year term.
(Reuters) - Japan’s Toshiba Corp (6502.T) is “severely undervalued” and should boost share repurchases, U.S, hedge fund King Street Capital Management LP said in a letter on Wednesday, The hedge fund said Toshiba’s current share buyback commitment of 700 billion yen ($6.2 billion) is insufficient and urged the company to speed it up and pearl cufflinks tiffany increase it to 1.1 trillion yen, “We are frustrated by this lack of progress and cannot stress enough how critical it is that Toshiba begin implementing its buyback immediately, The sooner Toshiba buys back its stock, the greater Toshiba’s returns, given its current undervaluation,” the hedge fund said..
Toshiba said in a statement it was “considering the mechanics and other details of the share buyback to execute shareholder returns at the earliest possible date”. It stopped short of stating whether it was prepared to revise the buyback plan, noting only that it would “continue constructive communications with shareholders and investors as it works to secure sustainable growth for the group”. Toshiba plans to announce a mid-term business plan next month. After the sale of its prized memory chip unit, the conglomerate is struggling to grow other core businesses such as social infrastructure.
(Reuters) - CBS Corp has placed television executive Vincent Favale on leave after earlier allegations of using sexual and homophobic language resurfaced, the company said on Wednesday, The action was taken against Favale, who is a senior vice president of talent for CBS Television Studios, after CNN reported on allegations made by nine unnamed sources on Wednesday, “I’ll never pearl cufflinks tiffany forget the day he told me he got four erections while watching Jennifer Hudson rehearse,” a female former CBS executive told CNN..