Tata Steel UK was fined £1 million at Hull Crown Court for two breaches of the Health and Safety Act
Tata Steel has invested more than £1.6 billion in its UK business since acquiring Corus in 2007
Tata Steel is trying to slash scheme's costs by setting up new retirement pot paying lower benefits
Interview with Koushik Chatterjee, Executive Director, (Finance, Corporate & Europe), Tata Steel
With benefit cuts in place, the new scheme would pose less of a risk to the company
It is planning a one-time settlement of $663 mn to its UK pensioners
Company said it would close its final salary pension scheme to accruals from March 31
From April 1, 2017, employees will save for their retirement through a new pension scheme
Statement comes even as UK workers back Tata's pension plan in a bid to recsue thousands of jobs
Tata Steel has held talks to merge its European assets with Germany's Thyssenkrupp
Tata Steel doesn't expect to be able to pay contributions needed to close the deficit
Mistry had earlier drawn the Board's attention to Tata Steel Europe, which had been earning negative returns
For sale of its loss-making speciality steels business for an enterprise value of 100 million pounds
Sources say Ratan Tata is against selling the UK business in whole or parts
In early July, the company announced cancellation of sale of its UK business and initiated talks with the German company for a possible joint venture
Tata Steel said on Friday it had put the process of selling its major British assets on hold
Tata Steel put its British operations up for sale in March threatening thousands of jobs
Company in JV talks with ThyssenKrupp for entire Europe business
Process could be halted for some time; British business minister to attend company's board meeting today
Firm to announce sale of some speciality businesses; Sajid Javid, Britain's Business Secretary, to meet Cyrus Mistry soon