Daily Briefing :- 24/10/16

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 :-

Image result for tata sons

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.

 Soon after the decision, Mr. Mistry decided to move the Bombay High Court against the decision.
2. France prepares to demolish “the Jungle”, an illegal refugee camp in Calais :-
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On the eve of the demolition of the Calais “Jungle” camp, French officials on Sunday handed out flyers in several languages notifying migrants of the camp’s imminent closure and urging them to abandon their dreams of reaching Britain.
The camp’s demolition and the resettlement of its estimated 6,000-8,000 residents in refugee shelters around the country is due to get underway on Monday morning. The migrants — mostly Afghans, Sudanese and Eritrean males — will be taken by bus to temporary shelters, where they can seek asylum. Some 145 buses will be deployed over the course of the three-day move.
Most of the migrants who travelled thousands of miles to Calais did so in the hope of stowing away on a lorry heading to Britain, where they have contacts and believe their job prospects are better.
3. EU deal with Canada collapses as Belgium refuses to sign :-
Image result for eu canada
The European Union’s hopes of signing a free-trade agreement with Canada this week appear to have gone up in smoke, after Belgium announced it could not sign the treaty because of opposition from regional parliaments. The collapse of the talks highlights the pitfalls that may await the British government when it seeks to negotiate a trade deal with the EU after Brexit.

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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This is a news briefing and the content published in this post does not reflect the views of CurrentHow™ Inc. in any way.

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