Latest news with #JaguarLandRover
Mint
2 days ago
- Business
- Mint
TCS revenue from Tata Group companies nears $1 billion
Tata Consultancy Services Ltd is nearing a billion dollars in annual revenue from its sister companies, a more than three-fold surge since Natarajan Chandrasekaran rose to the helm of the Tata Group's holding company eight years ago. The growing internal business, now representing 3.1% of TCS's total revenue, underscores Chandrasekaran's strategic push to modernize the sprawling conglomerate's digital infrastructure and leverage the IT giant's capabilities across the group. Out of TCS's FY25 revenue of more than ₹2.5 trillion, ₹7,835 crore came from group companies, the company's annual report showed. Eight years back, the figure was ₹2,412 crore. An email sent to TCS on Thursday remained unanswered. Rising revenue from group companies comes amid a broader initiative to foster tighter collaboration among Tata entities, exemplified by mega-deals with Jaguar Land Rover and state-run Bharat Sanchar Nigam Ltd. In 2023, TCS won an 800-million-pound order from Tata Motors' UK subsidiary Jaguar Land Rover to revamp its IT systems. Also read | Tata Sons feels the heat as TCS shrinks dividend for the first time in 20 years 'The JLR contract was a mega deal for TCS and its ramp-up would have caused the group company revenues to increase significantly," said a Mumbai-based analyst on condition of anonymity. A mega deal is a contract that brings more than ₹8,500 crore, or $1 billion in revenue. TCS winning a ₹15,000 crore contract from state-run Bharat Sanchar Nigam Ltd was another example. In August 2023, TCS announced that along with group company Tejas Networks Ltd, which makes wireless networking products for telecom companies, it had won a large contract from BSNL. TCS has also bagged multi-year contracts worth over ₹5,000 crore from its non-bank lender Tata Capital Ltd. The increase in earnings from group companies is primarily due to Chandrasekaran's efforts to make TCS future-ready for many of the group companies. Chandrasekaran, who began his career with TCS, rose through the ranks to become chief executive officer in 2009, before he was elevated as Tata Sons chairman in February 2017. Since then, Chandrasekaran has been nudging senior executives within TCS to collaborate with group companies such as Tata Communications Ltd, and also help modernize their IT infrastructure, an executive familiar with the developments said. He envisioned the 'One Tata' plan in 2017, a strategy to "simplify, synergise, and scale" the group's operations. Read this | The quiet philanthropists: Premji Foundation, Tata Trusts match social spending of top Nifty companies 'I see ample evidence that we are moving ahead on the course we set under the 'One Tata' strategy. We are embarking on a process of simplifying, synergizing and scaling (3S) to create an agile, powerful platform," Chandrasekaran wrote in a New Year message to Tata Group employees in 2019. For now, TCS executives believe business from group companies will only increase. 'Tata Group getting into new businesses like semiconductors and digital business is an opportunity for us (TCS) to work with other group companies," the executive cited above said on the condition of anonymity. Chandrasekaran's letter to shareholders in the TCS annual report also underscored the importance of technology. 'We are witnessing the rise of new paradigms, demanding a thorough reimagination of systems, processes, and technologies to improve visibility, reduce costs, and enhance operational throughput," Chandrasekaran, who is also chair of TCS, wrote in the annual report. 'This reimagination includes designing end-to-end traceability across supply chains; diversification of sourcing strategies to build resilience, and region-specific ecosystems to serve decentralized markets." And read | Tata Sons concludes probe into a top executive. Here's the verdict More money from Tata-owned businesses also comes at a time when the company is looking to boost revenue from its home turf. For two years, India has been the fastest-growing market for TCS, accounting for 8.6% or $2.6 billion in revenue last year. Despite the boost from group companies and homegrown businesses, TCS's growth has slowed: TCS ended the year with $30.18 billion in revenue, representing a 3.78% dollar revenue growth. This was its slowest growth in four years.
New European
2 days ago
- Business
- New European
The flaw in Starmer's attack on reckless Farage
It was a session of soundbites and, more importantly, seed-planting. Starmer had a decent (for him) one-liner about Farage, currently in Las Vegas at a MAGA-adjacent cryptocurrency conference, gambling with your money. With a mere 1,533 days left until the last possible date for the next general election, Keir Starmer delivered his first speech of the campaign on Thursday. Ignoring the Conservatives almost completely ('they're in decline, they're sliding into the abyss,' he said), the prime minister used almost all of his remarks and the subsequent Q&A to attack Nigel Farage. There were repeated references to Farage's huge blunder in saying Jaguar Land Rover deserved to go bust – it would have cost 11,000 British jobs – over a rebranding that he considered 'woke'. There was deserved mention of Farage's enthusiasm for Liz Truss's kamikaze mini-budget, and warnings that Reform's even more reckless plans would cause an even bigger cataclysm in a fragile economy. The best section, though, was the seed-planting. Starmer asked: 'Can you trust him? Can you trust him with your future? Could you trust him with your jobs? Could you trust him with your mortgage? Your pay slips, your bills?' Labour need to see these seeds of doubt take root if they are to stop Reform's poll surge. They are eight points behind the far right party in the latest YouGov poll, though No10 will be heartened that, when the same pollster asks voters who they'd prefer as prime minister, Stamer leads Farage by 15 points. Suggested Reading The UK-EU reset deal is not a Brexit surrender Jonty Bloom This is the start of a very long campaign in which you will hear the same things again and again from Starmer (or maybe his replacement). That Farage's plans would be a 'mad experiment' involving 'billions upon billions of completely unfunded spending. Precisely the sort of irresponsible splurge that sent your mortgage, your bills and the cost of living through the roof. It's Liz Truss all over again.' Conspicuous by its absence in Starmer's attacks (and mentioned here previously) is Farage's weakness as Mr Brexit. The normally talkative Reform boss fled the country on holiday last week when he could have been in the Commons debating Starmer's Brexit reset, and gave it only fleeting attention during a press conference on Tuesday, called in haste after his absence was widely mocked. Farage said the deal was 'a total sell-out and something that [Starmer] promised he wouldn't do', but apart from jabs at the 12-year fishing rights agreement and the role of the European Court of Justice, that was pretty much that. Yet Starmer mentioned the EU deal only once. Is he waiting for tangible benefits of closer relations with Europe to be felt, or does he really think there is no benefit in tying Farage to a disaster even bigger and much harder to reverse than the Truss-pocalypse? The latter would be mystifying. 'He told you Brexit would make you rich and it's cost the economy £100bn a year instead,' is all Starmer has to say. Perhaps he could take a leaf out of a book called A More Perfect Union, just announced by publishers Weidenfield & Nicholson. Its author, a leading human rights lawyer who will be familiar to Starmer, calls for 'radical steps' from political leaders to admit that 'Europe is once again central to Britain's future' and argues that the UK should 'build a union' with the bloc again. The writer is Marina Wheeler, who spent 25 years married to Boris Johnson before she divorced him in 2018, reportedly receiving a settlement of £4m. The prime minister should follow her example in putting the worst firmly behind you and making sure the bad guys pay their dues.
Yahoo
2 days ago
- Business
- Yahoo
Simon Jack: Tariff ruling doesn't really change US-UK deal
This latest twist in the Trump trade tariff drama has many people asking what it means for the UK's deal with the US. The answer is actually not as much as you might think. For a start, the tariffs that the US court has ruled illegal do not include those on cars, which make up the bulk of what the UK exports to the US, and steel and aluminium, which are the other UK industries most affected. UK exports of cars are currently attracting 27.5% tariffs while steel and aluminium are hit with 25% tariffs - the same as every other country. Wednesday's ruling has not changed that. What is in the UK-US tariff deal? And although the UK has done a deal with the US to reduce car tariffs to 10% and steel and aluminium tariffs to zero, that deal is yet to come into force. Sources at Jaguar Land Rover told the BBC that these tariffs were costing them "a huge amount of money" and pushed back on the notion floated by the car industry trade body, the SMMT, that they could run down current US inventories before feeling the pain of the tariffs. The government said it was working to implement the deal as quickly as possible and that Trade Secretary Jonathan Reynolds would press the case for speedy implementation when he meets US representatives at a meeting of the Organisation for Economic Co-operation and Development think-tank in Paris next week. The ruling does block Trump's imposition of blanket tariffs of 10% on other UK goods entering the US - such as products like salmon and whisky. So how that part of the tariff deal will pan out remains uncertain. British exports breathing any sigh of relief at tariffs being stopped could be short-lived as the White House has said it intends to appeal the decision. There are also other mechanisms for the President to impose tariffs - through different provisions in trade acts or pushing them through congress. The UK announced its trade deal with the US to some fanfare, but there are question marks as to how much better off the UK will be than other countries if it turns out that the President is prevented from imposing swingeing tariffs on others by either the courts or his own legislature. Perhaps the most corrosive effect of all is yet another wild card being thrown into an already unpredictable game of international trade stand-off. It makes it hard for businesses to plan, to invest, with any confidence.
BBC News
2 days ago
- Business
- BBC News
Simon Jack: Tariff ruling doesn't really change US-UK deal
This latest twist in the Trump trade tariff drama has many people asking what it means for the UK's deal with the answer is actually not as much as you might a start, the tariffs that the US court has ruled illegal do not include those on cars, which make up the bulk of what the UK exports to the US, and steel and aluminium, which are the other UK industries most exports of cars are currently attracting 27.5% tariffs while steel and aluminium are hit with 25% tariffs - the same as every other country. Wednesday's ruling has not changed although the UK has done a deal with the US to reduce car tariffs to 10% and steel and aluminium tariffs to zero, that deal is yet to come into at Jaguar Land Rover told the BBC that these tariffs were costing them "a huge amount of money" and pushed back on the notion floated by the car industry trade body, the SMMT, that they could run down current US inventories before feeling the pain of the government said it was working to implement the deal as quickly as possible and that Trade Secretary Jonathan Reynolds would press the case for speedy implementation when he meets US representatives at a meeting of the Organisation for Economic Co-operation and Development think-tank in Paris next ruling does block Trump's imposition of blanket tariffs of 10% on goods entering the US - including UK products like salmon and whisky - so those British businesses will welcome the court's that relief could be short-lived as the White House has said it intends to appeal the decision, and there are other mechanisms for the President to impose tariffs - through different provisions in trade acts or pushing them through UK announced its trade deal with the US to some fanfare, but there are question marks as to how much better off the UK will be than other countries if it turns out that the President is prevented from imposing swingeing tariffs on others by either the courts or his own the most corrosive effect of all is yet another wild card being thrown into an already unpredictable game of international trade stand-off. It makes it hard for businesses to plan, to invest, with any confidence.
Daily Mail
3 days ago
- Automotive
- Daily Mail
Land Rover Defender updated - here's what's different
Land Rover's Defender has been on sale in Britain for five years, so a significant mid-life facelift is overdue. This is especially the case with the luxury 4X4 becoming JLR's (formerly Jaguar Land Rover) best-selling product of all. Last year, it delivered 115,400 Defenders globally, dwarfing the sales figures for the Range Rover (77,000) and Range Rover Sport (79,800). With it selling Defenders as quickly as it can make them, JLR appears to have taken a 'less is more' approach to its '26MY' (model year) tweaks, which is far from the wholesale update most cars receive midway through their lifecycle. In fact, it's difficult to see what's changed at all... Here's what's different and how it will impact prices. It's fair to say that Land Rover has taken a subtle approach to upgrading its volume-selling product. Defender has been treated to a series of very minor styling tweaks and cabin updates. From the outside, there's no change to the familiar boxy silhouette that has proven a big hit with customers who've been snapping them up in record numbers since 2020. A new headlight design, fog lights as standard and smoke-tinted rear light clusters - combined with a gloss black grille bar - are the only minimal changes to the exterior. Instead, it's inside where arguably the biggest upgrade comes. The cabin is now dominated by a larger 13.1-inch touchscreen - an increase in display size over the outgoing 11.4-inch unit. Sitting above the gear selector and temperature control panel in the centre console, it uses the PiviPro system and should make the screen easier to tinker with on the move. There are other necessary update to the cabin, including the addition of an infrared camera behind the steering column, which powers the driver attention monitoring system. This triggers audio and visual alerts to the person behind the wheel when the camera detects their eyes are away from the road for dangerous periods of time as a part of a mandated safety requirement for new models under the European Union's latest GSR2 legislation. While the EU rules do not currently apply for UK-sold models, minsters recently suggested they will be adopted in Britain soon. A host of new paint options have also been launched and Defender - for the first time - will also benefit from adaptive off-road cruise control, though as an optional extra that customers will need to spec. There is a price increase for 2025 While Land Rover hasn't revealed information about powertrain options, it is likely to retain the combination of diesel, plug-in hybrid and supercharged V8 petrol engines. Customers will continue to be able to get their hands on the shorter Defender90 three-door, the five-door 110 and seven or eight-seat Defender 130. Prices for the updated Defender start from £57,135 thanks to the arrival of a new entry Defender90 S. However, pricing has increased over 25MY vehicle, with a like-for-like X-Dynamic SE rising by almost £2,000 from £59,790 to £61,740. Defender will continue to be produced exclusively at its Nitra plant in Slovakia, meaning it won't benefit from the trade agreement between the US and UK over reduced tariffs on imported vehicles. This is Money has asked JLR if it intends to increase the cost of Defender for the US market in preparation for the 27.5 per cent levies on EU-made vehicles scheduled for introduction on 9 July, but it refrained from commenting on the tariff impact on pricing. Shortly after the tariffs - which then included the UK - were originally announced on President Donald Trump's self-proclaimed Liberation Day back in April, JLR chose to pause shipments of cars to America.
