Here is CurrentHow’s Daily Briefing™ for the 24th of October, 2016 :-
1. The Board of Directors of Tata Sons, one of the largest companies in India, removes Cyrus Mistry as Chairman :-
In a sudden move, Tata Sons, the holding company of Tata Group, has announced that its Board has removed Cyrus P. Mistry as Chairman of Tata Sons.
The decision was taken at a meeting of its Board held in Mumbai on Monday. The Board named Ratan N. Tata as interim chairman. It also constituted a selection committee to choose a new chairman. The committee has been mandated to complete the selection process in four months. “A new management structure is being put in place and a selection has been constituted to identify the next chairman of Tata Sons,” Ratan Tata wrote in the letter.
The Belgian prime minister, Charles Michel, announced on Monday that Belgium was not ready to sign the EU-Canada trade pact, following emergency talks between the country’s federal and regional leaders. The Belgian stalemate means Canada’s prime minister, Justin Trudeau, is expected to postpone a trip to Brussels this Thursday, when he was due to sign the treaty. Officials are assessing how the trade pact can be revived, but next steps remained unclear.
Donald Tusk, the head of the European council, is due to speak to Trudeau later on Monday. Tusk had given Belgium an ultimatum of Monday night to sort out its problems, but emergency talks in Brussels in the afternoon showed the treaty remained stuck. The EU and Canada have spent more than seven years preparing the comprehensive economic and trade agreement (CETA), but the treaty has stumbled near the finish-line because of opposition from the socialist-led parliament in Wallonia.
The trade treaty would eliminate nearly all tariffs between the EU and Canada. But Walloon leaders worry they are being pressed into an unequal bargain that disadvantages their farmers against Canadian beef and pork producers.
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