TATAMOTORS

Adds background

LONDON, Sept 19 (Reuters) - Britain's government said on Friday it was working closely with Jaguar Land Rover (JLR) to understand the impacts on the supply chain after a cyber incident at the country's biggest carmaker stopped production more than three weeks ago.

JLR warned earlier this week its factories would stay shut until September 24, after it was forced to stop output in the first few days of the month to contain the hack.

Since then, there has been mounting concern about the financial impact on JLR's British supply chain, which includes many smaller companies and supports 104,000 jobs across the country.

The Unite trade union has warned of job losses and said government support would be needed if the stoppage continues.

"The government, including government cyber experts, are in contact with the company to support the task of restoring production operations, and are working closely with JLR to understand any impacts on the supply chain," a joint statement from the government and industry body, the Society of Motor Manufacturers and Traders said.

(Reporting by Sarah Young
Editing by William Schomberg and James Davey)

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Adds company statement in paragaphs 2-3, details throughout

By Sam Tabahriti

LONDON, Sept 16 (Reuters) - Britain's largest carmaker, Jaguar Land Rover, said a pause in production due to a cyber attack would now stretch to September 24, extending the stoppage at its British plants to more than three weeks.

The luxury carmaker, owned by India's Tata Motors TAMO.NS, said it shut down its systems in early September to contain the hack that has severely disrupted its retail and manufacturing operations.

Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday. It has told many of its 33,000 staff to stay at home.

"We have taken this decision as our forensic investigation of the cyber incident continues, and as we consider the different stages of the controlled restart of our global operations, which will take time," JLR said in a statement on its website.

There is concern about the financial impact of the stoppage on JLR's British supply chain, which includes many smaller companies and supports 104,000 jobs across the country. The Unite trade union has warned of job losses and said government support would be needed given the lengthy stoppage.

British newspaper The Telegraph reported on Monday that the production shutdown could last until November, although JLR said this was not its position.

JLR has said the incident has affected some data, although it remains unclear whether it involved customers, suppliers or internal systems.

The breach was the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer MKS.L and Co-op have fallen victim to increasingly sophisticated breaches.

The disruption comes as JLR faces broader challenges, including weaker demand in China and Europe, and delays to the launch of its electric vehicle models.

In July, JLR reported an 11% drop in quarterly sales, partly due to a temporary pause in U.S. shipments after tariffs were imposed. Although exports resumed in May, the company cut its profit margin target for fiscal 2026 to 5%-7%, down from 10%, citing ongoing trade uncertainty.

(Reporting by Sam Tabahriti in London and Pushkala Aripaka in Bengaluru; Editing by Sarah Young, Sherry Jacob-Phillips and Alex Richardson)

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Sept 15 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• SIAM - INDIA'S AUGUST 2-WHEELER SALES 18,33,921 UNITS

• SIAM - INDIA'S AUGUST 3-WHEELER SALES 75,759 UNITS

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S AUGUST TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,21,840 UNITS

Source text: [ID:]

Further company coverage: ASOK.NS

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Sept 10 (Reuters) - Tata Motors Ltd TAMO.NS:

• JLR - SOME DATA HAS BEEN AFFECTED IN CYBER INCIDENT AND ARE INFORMING RELEVANT REGULATORS - WEBSITE

Further company coverage: TAMO.NS

(([email protected];))

By Muvija M

LONDON, Sept 5 (Reuters) - Jaguar Land Rover is working "at pace" to resolve a cyber incident that has severely disrupted its retail and production activities, the luxury carmaker said on Friday, with its factory staff told to stay at home until early next week.

The breach, which the company disclosed on Tuesday, is the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer MKS.L and Co-op have fallen victim to increasingly sophisticated breaches.

Jaguar Land Rover (JLR), owned by India's Tata Motors TAMO.NS, said it took immediate action to mitigate the impact from the incident by shutting down its systems. It reiterated in an emailed statement on Friday that there was no evidence customer data had been stolen at this stage.

"We are now working at pace to restart our global applications in a controlled manner," the statement from JLR, which has three carmaking factories in Britain, said. "Our retail and production activities have been severely disrupted."

Factory staff at Britain's largest automotive employer with around 33,000 employees will stay at home until at least Tuesday.

M&S, which suffered the most high-profile hack this year, estimated the months-long disruption to its business cost it about 300 million pounds ($405.27 million) in lost operating profit.

JLR has already struggled this year, reporting a near 11% quarterly sales drop in July due in part to a temporary pause in U.S. shipments after the U.S. administration of Donald Trump imposed tariffs on all car imports.

While JLR resumed exports to the U.S. in May, it slashed its main profit margin target for fiscal 2026 to 5%-7% from 10% amid continuing uncertainty around U.S. tariff policy. Like its peers, the company has also been battling weak demand in China and slowing sales in Europe.

($1 = 0.7402 pounds)

(Reporting by Muvija M; Editing by Kate Holton and Alexandra Hudson)

(([email protected]; within the UK: +44 7776813338, outside the UK: +91 80 61822698; Twitter: https://twitter.com/muvija_m;))

Sept 4 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

- Shell SHEL.L has scrapped construction of the biofuels facility at its Rotterdam energy and chemicals plant after an in-depth evaluation found it would not be competitive.

- The premier of Canada's Ontario emptied a bottle of Crown Royal whisky on the ground and vowed to "hurt" Diageo DGE.L in retaliation for the closure of a factory in Canada's most populous province as part of efforts to improve North American supply chain.

The Guardian

- A group of English-speaking hackers linked to the Marks & Spencer cyber-attack has claimed responsibility for an attack on Jaguar Land Rover.

- The Scottish government has banned arms companies, which supply the IDF, from getting grants and investment support, and will freeze support for trade with Israel.

The Telegraph

- Hotel tycoon Surinder Arora is in talks with the operators of Dubai, Dublin and Singapore airports as part of his rival expansion plan for Heathrow, which will include a proposed sixth terminal and a shorter third runway.

- British Finance Minister Rachel Reeves said that claims by senior economists that the government could be forced to seek a bailout from the International Monetary Fund were not credible.

Sky News

- Cosmetics group Lush has shut its UK shops, website and factories in protest at the Israeli government "preventing urgent humanitarian assistance from entering Gaza".

- RedBird Capital Partners has formally notified the Department for Culture, Media and Sport of the details of its takeover of the Daily and Sunday Telegraph.

The Independent

- The British Conservatives have called for HM Revenue and Customs (HMRC) to investigate British Deputy Prime Minister Angela Rayner after she admitted to not paying the correct stamp duty on her flat.

(Compiled by Bengaluru newsroom)

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Sept 3 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

- British luxury carmaker Jaguar Land Rover said its retail and production activities have been severely disrupted following a cyber incident.

- British retailer John Lewis Partnership named Tesco executive Tom Denyard as the managing director of its supermarket business Waitrose, effective January 2026.

The Guardian

- British Prime Minister Keir Starmer has drawn up a list of Labour allies to be elevated to the House of Lords to help drive through legislation such as the bill scrapping hereditary peers, which has been obstructed by the Conservatives.

- Britain's Home Office is set to reach out to around 130,000 international students and their families, warning that those without a legal right to remain will be required to leave the country.

The Telegraph

- British supermarket chain Asda considers a bid for Costa Coffee after Britain's biggest coffee chain was put up for sale.

- French energy giant EDF confirmed that the Heysham 1 plant in Lancashire and the Hartlepool plant in Teesside would have their retirements delayed by one year, to March 2028.

Sky News

- The group of Thames Water lenders aiming to rescue the company have set out plans for 20.5 billion pounds ($27.69 billion) of investment to bolster performance.

- British government's spending watchdog said the total cost of relocating Afghan nationals to the country under the Afghanistan Response Route (ARR) scheme is estimated to be more than 2 billion pounds ($2.70 billion).

($1 = 0.7402 pounds)

(Compiled by Bengaluru newsroom)

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Adds details from JLR statement, background throughout

Sept 2 (Reuters) - Jaguar Land Rover's retail and production activities have been "severely disrupted" following a cybersecurity incident, the British luxury carmaker said on Tuesday, adding that it was working to restart its operations in a controlled manner.

The company, owned by India's Tata Motors TAMO.NS, said it had not found any evidence at this stage that any customer data had been stolen after it shut down its systems to mitigate impact. It did not provide further details.

Tata Motors did not immediately respond to a Reuters request for comment.

The disruption adds to JLR's woes after a report in July said it had delayed the launch of its electric Range Rover and Jaguar models for more testing and for demand to pick up.

The automaker is the latest British company to be hit by a cyber security incident in recent months amid a surge in cyber and ransomware attacks globally , as increasingly sophisticated threat actors disrupt operations and compromise sensitive data.

Last month, British retailer M&S MKS.L resumed taking click and collect orders for clothing after a nearly four-month hiatus following a cyber hack and data theft. Hackers also attempted to break into retailer Co-op Group 's 42TE.L systems in April.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Tasim Zahid and Sahal Muhammed)

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Rewrites throughout, adds August sales numbers for Maruti, Hyundai and Tata Motors

Sept 1 (Reuters) - India's top carmakers reported lower sales to dealers for a fourth straight month in August amid weak demand, with SUV maker Mahindra & Mahindra scaling down its dispatches ahead of a government decision on lower consumption tax.

Maruti Suzuki MRTI.NS, Mahindra & Mahindra MAHM.NS, Hyundai Motor India HYUN.NS and Tata Motors TAMO.NS are India's four largest carmakers, cornering 80% of sales. Their combined sales dropped 8.7% in August.

Analysts at Nomura said automotive dealers stocked up conservatively for August ahead of the key tax cut decision, as buyers delay festive season purchases expecting lower prices.

Prime Minister Narendra Modi had announced sweeping tax reforms, including tax cuts on small cars, effective from October, with India's goods and services tax (GST) council meeting later this week to discuss the matter.

Mahindra's sports utility vehicle sales fell 9% in August, falling for the first time since January 2022. They are still up 15% so far in the fiscal year to March 2026.

The drop relegated Mahindra to the no. 4 spot, allowing Hyundai's Indian unit to return to its long-held no. 2 spot. Mahindra had held the no. 2 spot for the last four months.

Hyundai reported a sales decline of 11%. Tata Motors' car sales dropped 7%, cushioned slightly by a jump in electric vehicle sales to a record 8,540 units.

Meanwhile, market leader Maruti Suzuki MRTI.NS reported an 8% decline in sales, hurt by lower sales volumes of entry-level small cars. Sales of utility vehicles, including SUVs and multi-seater vehicles, fell for a third-straight month.

Small cars and two-wheelers are likely to see the biggest benefit, with the tax rate expected to drop to 18% from 28%, Reuters reported last month, citing a government source.

Auto stocks .NIFTYAUTO closed nearly 3% higher, hitting their highest levels since last October, on strong two-wheeler sales and hopes of tax cuts.

Eicher Motors EICH.NS reported a 57% surge in domestic sales in its Royal Enfield stable and TVS Motor TVSM.NS logged a 28% growth.

(Reporting by Urvi Dugar and Nandan Mandayam, additional reporting by Mridula Kumar; Editing by Sonia Cheema and Janane Venkatraman)

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By Aditi Shah

NEW DELHI, Aug 31 (Reuters) - India's roll-out of fuel blended with 20% ethanol will hurt a vehicle's mileage by 2%-4% but is safe to use, a lobby group representing the country's automakers said, aiming to assuage motorists' concerns in the world's third-largest car market.

India set a 2025 target years ago for 20% ethanol blending in fuel, called E20, as part of Prime Minister Narendra Modi's focus on clean energy. But in recent weeks it has become the only choice at nearly all fuel stations, causing furore among drivers over its impact on vehicle performance and durability, especially older vehicles.

Using E20 fuel in older vehicles lowers mileage but is not a safety risk, P.K. Banerjee, executive director at the Society of Indian Automobile Manufacturers (SIAM), told reporters late on Saturday at a news event in New Delhi.

"Millions of vehicles are plying on E20 for quite some time now. Not a single vehicle breakdown or engine failure has been reported," said Banerjee, adding that if issues arise, warranty and insurance claims will be fully honoured by companies.

SIAM represents India's major carmakers including Maruti Suzuki MRTI.NS, Hyundai Motor HYUN.NS, Mahindra & Mahindra MAHM.NS, Tata Motors TAMO.NS and Toyota Motor 7203.T.

More than a dozen executives from auto companies, fuel retailers and industry groups were present on stage, addressing questions from the media at the event on India's ethanol-blended petrol programme.

Banerjee said claims of a 50% drop in fuel efficiency are unfounded and misinformed. Scientific studies conducted in a controlled environment show a 2%-4% decrease, putting a number to the reduction for the first time, he said.

However, driving in real world conditions can contribute to higher drops in mileage due to a variety of factors.

"On road it could be very different because of the way in which the vehicles are maintained and driven so that difference will be there," said C.V. Raman, executive committee member at Maruti Suzuki, India's biggest carmaker.

While India has been gradually rolling out E20 fuel since 2023, older blends, like E5 and E10, typically seen as more compatible with older vehicles, were also offered.

However, these older fuel mixes have now been removed from nearly all of the country's 90,000 fuel stations, leaving drivers with just one choice - a decision that is unlikely to change.

In recent weeks, worried motorists took to social media over concerns about large fuel efficiency drops and confusing statements from carmakers. Carmakers first said E20 fuel had not been tested for compatibility with older vehicles, but backtracked later saying it is safe to use.

Automakers, already battling slower sales and shortages of rare-earth magnets, have provided mixed guidance, adding to consumer anger over the lack of choice. Public interest litigation against the move will be heard in the Supreme Court on Monday.

(Reporting by Aditi Shah; Editing by Michael Perry)

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By Aditya Kalra, Saurabh Sharma and Aditi Shah

NEW DELHI/LUCKNOW, Aug 29 (Reuters) - The Indian government is facing a backlash from motorists after the nationwide rollout of fuel blended with 20% ethanol, amid fears - stoked by a lack of clarity from some automakers - that it may affect the performance of particularly older vehicles.

India, the world's third largest car market, set a 2025 target years ago for 20% ethanol blending in fuel, called E20, as part of Prime Minister Narendra Modi's focus on clean energy.

But in recent weeks it has become the only choice at nearly all of the country's 90,000 fuel stations. Older blends, like E5 and E10, typically seen as more compatible with old cars, have mostly been removed, leaving drivers with just one choice.

The government says E20 lowers carbon emissions, but has conceded in press statements addressing consumer worries that there could be a "marginal" hit on fuel efficiency of old cars.

Automakers, already battling slower sales and shortages of rare-earth magnets, have provided mixed guidance, adding to consumer anger over the lack of choice. Public interest litigation against the move will be heard in the Supreme Court on Monday.

Two fuel station managers in the northern city of Lucknow told Reuters that drivers were getting so angry that some stations had stopped providing information about the change.

"People hurl abuse at us. We then decided to not tell people about it," said one manager, Ramesh Pandey.

The ministries of petroleum and road transport did not respond to requests for comment.

"India's ethanol journey is unstoppable," petroleum minister Hardeep Singh Puri said on August 8, adding that "some lobbies with vested interests are actively attempting to create confusion."

Days later, Puri's ministry said "in case of certain older vehicles, some rubber parts and gaskets may require replacement" calling it a "simple process".

'GIVE ME THE RIGHT FUEL'

Automakers are racing to assuage concerns, but there is little clarity on the future of old cars in particular.

Skoda VOWG_p.DE has issued an FAQ on its website saying that components of its cars sold in India before April 2020 "are not evaluated" for E20. In a statement to Reuters on Friday, it said vehicles sold after that date were "fully material-compatible", without explaining what happens to older cars.

Toyota 7203.T said in a statement that "a modest variation" in fuel economy in its cars was likely with E20.

On Monday, Renault RENA.PA told tech consultant Ankur Thakur, 28, via email that his 2022 Renault Triber had "not been tested" for E20 and it was "not advisable" to use the fuel.

He posted the screenshot of the email on X, which went viral and attracted more than 700,000 views. Renault then told Thakur - and Reuters in a statement on Friday - that based on government tests E20 poses "no serious challenges" for old cars.

Thakur, unconvinced, is now using a pricey no-ethanol fuel still available at select pumps. "Just give me the right fuel my car was originally made for," he told Reuters.

A Reuters review of a fuel tank flap and user manual of an Audi Q3 purchased last year in India showed it recommended only E5 and E10 fuel.

The fuel tank of a 2024 Mahindra MAHM.NS Scorpio was pasted with a warning sticker: "CAUTION. PETROL/E10 FUEL ONLY".

Mahindra and Audi did not respond to Reuters queries.

(Reporting by Aditya Kalra, Saurabh Sharma and Aditi Shah. Additional reporting by Arpan Chaturvedi. Editing by Mark Potter)

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Adds Cracker Barrel sticking to old logo in paragraphs 40-42

Aug 27 (Reuters) - U.S. President Donald Trump has escalated his criticism and actions against executives, corporations and institutions. His unprecedented actions - from novel export deals to frozen university grants - have upended the status quo between the government, law, academia and corporate America.

Earlier this month, Trump questioned if Goldman Sachs CEO David Solomon should remain at the helm, slamming him for the bank's prediction that tariffs would hurt the U.S. economy.

Here are some influential figures and entities that Trump has publicly criticized:

GOLDMAN SACHS GS.N

Goldman's economic research arm had published a note this month that said U.S. consumers had absorbed 22% of tariff costs through June, and their share could rise to 67% if the recent levies follow the same pattern as the earliest ones.

"David Solomon and Goldman Sachs refuse to give credit where credit is due," Trump said in a post on Truth Social, shortly thereafter.

Trump said it was mostly "companies and governments, many of them foreign, picking up the tabs". He also took a dig at Solomon for his former DJ-ing hobby.

INTEL INTC.O

At the start of the month, Trump demanded Intel CEO Lip-Bu Tan step down due to China ties. Reuters had reported in April that Tan invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military.

"The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem," Trump said in a post on his Truth Social platform.

Tan responded to Trump, saying he shared the president's commitment to advancing U.S. national and economic security and that the Intel board was "fully supportive of the work we are doing to transform our company".

After a meeting between the two, Trump praised Tan and the U.S. government decided to take a stake in the chipmaker.

TESLA TSLA.O

The electric automaker's billionaire tech CEO Elon Musk spent hundreds of millions of dollars supporting Trump's re-election, a move investors who bid up Tesla stock expected to benefit Musk's empire.

Trump and Musk, however, fell out in June after Musk criticized Trump's sweeping tax-cut and spending bill because it was projected to increase federal debt.

Responding to that on Truth Social, Trump threatened to cut federal subsidies and contracts to Musk's companies and said the billionaire "just went CRAZY" after losing the electric-vehicle mandate in the bill.

ADRIAN MARDELL, FORMER CEO, JAGUAR LAND ROVER

Trump criticized Jaguar's rebranding effort in August, calling the campaign "woke" and "stupid", and linking it to the departure of the company's CEO.

The remarks from Trump came as the British carmaker, owned by India's Tata Motors TAMO.NS, announced the retirement of CEO Adrian Mardell, who spent more than three decades at the company.

Jaguar last year unveiled a new logo and visual identity as part of a brand refresh aimed at repositioning itself as an electric automaker, a move that drew sharp online backlash and criticism from brand loyalists.

APPLE AAPL.O

Trump has repeatedly targeted Apple and its boss, Tim Cook, for making U.S.-sold iPhones outside the country and has threatened company-specific tariffs.

In May, Trump recalled after a meeting in the Qatari capital Doha, that he had confronted Cook about the company's plan to make most of its iPhones sold in the U.S. at factories in India by the end of 2026.

Trump had said in a social media post he told Cook "long ago" that "I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else".

At the start of the month, Trump announced Apple would invest an additional $100 billion in the U.S., raising its total domestic commitment to $600 billion over the next four years. Cook also gave Trump a U.S.-made souvenir with a 24-karat gold base.

AMAZON.COM AMZN.O

Trump called Amazon's former CEO Jeff Bezos in April to complain about a news report that said the company planned to display prices showing the impact of tariffs on ecommerce retailer Amazon.com.

However, Amazon said it had only briefly considered listing import charges for some goods in April following Trump's tariff announcement, but dropped the plan as the White House accused the company of a "hostile political act".

Trump later told reporters that Bezos had solved the problem "very quickly" and was "very nice".

BANK OF AMERICA BAC.N AND JPMORGAN CHASE JPM.N

Trump in August alleged that BofA CEO Brian Moynihan and JPMorgan chief Jamie Dimon discriminated against him and his supporters. Earlier he had said they did not provide banking services to conservatives.

"What you're doing is wrong," Trump said, in a video address at the World Economic Forum in Davos, Switzerland. Trump did not cite evidence or specifics of any wrongdoing, in a question-and-answer session with corporate leaders and CEOs assembled on stage.

He also referenced JPMorgan's Dimon. "You and Jamie and everybody, I hope you're gonna open your bank to conservatives."

Both lenders have denied the allegations of "debanking" on multiple occasions.

WALMART WMT.N

Trump said in May Walmart and China should "eat the tariffs" and not burden American shoppers, after CEO Doug McMillon said the retailer could not absorb all tariff-related costs because of narrow retail margins.

"Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected," Trump said in a social media post.

While Trump did not call out McMillon personally, he publicly criticized Walmart for attributing its price hikes in May to tariffs imposed by his administration.

CRACKER BARREL CBRL.O

The restaurant chain's brief change in its logo — removing the long-standing image of an overall-clad man known as "Uncle Herschel" leaning against a barrel — is the most recent in a series of dustups where an unexpected response has blindsided retail chains.

Cracker Barrel said on Tuesday it will stick with its decades-old logo, scrapping plans for a new one following social media backlash, including from U.S. President Donald Trump.

"Congratulations 'Cracker Barrel' on changing your logo back to what it was. All of your fans very much appreciate it," Trump said on Truth Social after the company's reversal.

COMCAST CMCSA.O

Trump criticized Comcast and its cable news network MSNBC for its news coverage of his administration. He said to reporters, "They're changing the name because they're ashamed of it, and they're disassociating it from NBC," referring to MSNBC's name change to MS NOW.

In a post on his social media platform last week, Trump also called Comcast a "weak and ineffective owner ... headed by ... Brian Roberts".

SMITHSONIAN INSTITUTION:

The White House has said it will lead an internal review of some Smithsonian museums and exhibitions ahead of the 250th anniversary of the U.S. Declaration of Independence.

In an executive order in March, Trump said the institution had come under the influence of a "divisive, race-centered ideology" in recent years.

HARVARD UNIVERSITY

Trump targeted the country's oldest and richest university, canceling about $2.5 billion federal grants and mounted efforts to cut off research funding to Harvard, as a part of a larger campaign to force change at U.S. universities, which Trump says are gripped by antisemitic and "radical left" ideologies.

"We are going to be taking away Harvard's Tax Exempt Status. It's what they deserve!" Trump wrote in a post on his social media platform in May.

COLUMBIA UNIVERSITY

In March, the Trump administration said it was penalizing Columbia University over how it handled last year's protests by canceling $400 million in federal funding.

"This is the first arrest of many to come. We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it," Trump said in a social media post.

The comments came after the arrest of a Palestinian graduate student Mahmoud Khalil played a prominent role in the protests.

In July, the university said it will pay over $200 million to the U.S. government in a settlement with Trump's administration.

LAW FIRMS

Trump targeted law firm Perkins Coie in March with an executive order that suspended security clearances for its employees and restricted their access to federal buildings over its ties to Hillary Clinton and DEI policies.

Trump had said it was "an absolute honor to sign" the order. Trump also targeted New York law firm Paul, Weiss, Rifkind, Wharton & Garrison in March with a similar order, which he later withdrew after striking a deal.

Law firm Covington & Burling faced Trump's presidential memorandum in February, which suspended security clearances for Peter Koski and all Covington employees who assisted former special counsel Jack Smith, who prosecuted Trump.

Covington had said it would continue representing Jack Smith despite these measures.

"We're going to continue holding the people who were responsible for the weaponization of government - who supported it - accountable," Trump had said.

(Reporting by Deborah Sophia, Juveria Tabassum, Niket Nishant, Shivansh Tiwary, Savyata Mishra, Kritika Lamba, Arsheeya Bajwa, Zaheer Kachwala and Puyaan Singh in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur)

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Updates references to events and days throughout, changes dateline

Aug 26 (Reuters) - U.S. President Donald Trump has escalated his criticism and actions against executives, corporations and institutions. His unprecedented actions - from novel export deals to frozen university grants - have upended the status quo between the government, law, academia and corporate America.

Earlier this month, Trump questioned if Goldman Sachs CEO David Solomon should remain at the helm, slamming him for the bank's prediction that tariffs would hurt the U.S. economy.

Here are some influential figures and entities that Trump has publicly criticized:

GOLDMAN SACHS GS.N

Goldman's economic research arm had published a note this month that said U.S. consumers had absorbed 22% of tariff costs through June, and their share could rise to 67% if the recent levies follow the same pattern as the earliest ones.

"David Solomon and Goldman Sachs refuse to give credit where credit is due," Trump said in a post on Truth Social, shortly thereafter.

Trump said it was mostly "companies and governments, many of them foreign, picking up the tabs". He also took a dig at Solomon for his former DJ-ing hobby.

INTEL INTC.O

At the start of the month, Trump demanded Intel CEO Lip-Bu Tan step down due to China ties. Reuters had reported in April that Tan invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military.

"The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem," Trump said in a post on his Truth Social platform.

Tan responded to Trump, saying he shared the president's commitment to advancing U.S. national and economic security and that the Intel board was "fully supportive of the work we are doing to transform our company".

After a meeting between the two, Trump praised Tan and the U.S. government decided to take a stake in the chipmaker.

TESLA TSLA.O

The electric automaker's billionaire tech CEO Elon Musk spent hundreds of millions of dollars supporting Trump's re-election, a move investors who bid up Tesla stock expected to benefit Musk's empire.

Trump and Musk, however, fell out in June after Musk criticized Trump's sweeping tax-cut and spending bill because it was projected to increase federal debt.

Responding to that on Truth Social, Trump threatened to cut federal subsidies and contracts to Musk's companies and said the billionaire "just went CRAZY" after losing the electric-vehicle mandate in the bill.

ADRIAN MARDELL, FORMER CEO, JAGUAR LAND ROVER

Trump criticized Jaguar's rebranding effort in August, calling the campaign "woke" and "stupid", and linking it to the departure of the company's CEO.

The remarks from Trump came as the British carmaker, owned by India's Tata Motors TAMO.NS, announced the retirement of CEO Adrian Mardell, who spent more than three decades at the company.

Jaguar last year unveiled a new logo and visual identity as part of a brand refresh aimed at repositioning itself as an electric automaker, a move that drew sharp online backlash and criticism from brand loyalists.

APPLE AAPL.O

Trump has repeatedly targeted Apple and its boss, Tim Cook, for making U.S.-sold iPhones outside the country and has threatened company-specific tariffs.

In May, Trump recalled after a meeting in the Qatari capital Doha, that he had confronted Cook about the company's plan to make most of its iPhones sold in the U.S. at factories in India by the end of 2026.

Trump had said in a social media post he told Cook "long ago" that "I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else".

At the start of the month, Trump announced Apple would invest an additional $100 billion in the U.S., raising its total domestic commitment to $600 billion over the next four years. Cook also gave Trump a U.S.-made souvenir with a 24-karat gold base.

AMAZON.COM AMZN.O

Trump called Amazon's former CEO Jeff Bezos in April to complain about a news report that said the company planned to display prices showing the impact of tariffs on ecommerce retailer Amazon.com.

However, Amazon said it had only briefly considered listing import charges for some goods in April following Trump's tariff announcement, but dropped the plan as the White House accused the company of a "hostile political act".

Trump later told reporters that Bezos had solved the problem "very quickly" and was "very nice".

BANK OF AMERICA BAC.N AND JPMORGAN CHASE JPM.N

Trump in August alleged that BofA CEO Brian Moynihan and JPMorgan chief Jamie Dimon discriminated against him and his supporters. Earlier he had said they did not provide banking services to conservatives.

"What you're doing is wrong," Trump said, in a video address at the World Economic Forum in Davos, Switzerland. Trump did not cite evidence or specifics of any wrongdoing, in a question-and-answer session with corporate leaders and CEOs assembled on stage.

He also referenced JPMorgan's Dimon. "You and Jamie and everybody, I hope you're gonna open your bank to conservatives."

Both lenders have denied the allegations of "debanking" on multiple occasions.

WALMART WMT.N

Trump said in May Walmart and China should "eat the tariffs" and not burden American shoppers, after CEO Doug McMillon said the retailer could not absorb all tariff-related costs because of narrow retail margins.

"Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected," Trump said in a social media post.

While Trump did not call out McMillon personally, he publicly criticized Walmart for attributing its price hikes in May to tariffs imposed by his administration.

COMCAST CMCSA.O

Trump criticized Comcast and its cable news network MSNBC for its news coverage of his administration. He said to reporters, "They're changing the name because they're ashamed of it, and they're disassociating it from NBC," referring to MSNBC's name change to MS NOW.

In a post on his social media platform last week, Trump also called Comcast a "weak and ineffective owner ... headed by ... Brian Roberts".

SMITHSONIAN INSTITUTION:

The White House has said it will lead an internal review of some Smithsonian museums and exhibitions ahead of the 250th anniversary of the U.S. Declaration of Independence.

In an executive order in March, Trump said the institution had come under the influence of a "divisive, race-centered ideology" in recent years.

HARVARD UNIVERSITY

Trump targeted the country's oldest and richest university, canceling about $2.5 billion federal grants and mounted efforts to cut off research funding to Harvard, as a part of a larger campaign to force change at U.S. universities, which Trump says are gripped by antisemitic and "radical left" ideologies.

"We are going to be taking away Harvard's Tax Exempt Status. It's what they deserve!" Trump wrote in a post on his social media platform in May.

COLUMBIA UNIVERSITY

In March, the Trump administration said it was penalizing Columbia University over how it handled last year's protests by canceling $400 million in federal funding.

"This is the first arrest of many to come. We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it," Trump said in a social media post.

The comments came after the arrest of a Palestinian graduate student Mahmoud Khalil played a prominent role in the protests.

In July, the university said it will pay over $200 million to the U.S. government in a settlement with Trump's administration.

LAW FIRMS

Trump targeted law firm Perkins Coie in March with an executive order that suspended security clearances for its employees and restricted their access to federal buildings over its ties to Hillary Clinton and DEI policies.

Trump had said it was "an absolute honor to sign" the order. Trump also targeted New York law firm Paul, Weiss, Rifkind, Wharton & Garrison in March with a similar order, which he later withdrew after striking a deal.

Law firm Covington & Burling faced Trump's presidential memorandum in February, which suspended security clearances for Peter Koski and all Covington employees who assisted former special counsel Jack Smith, who prosecuted Trump.

Covington had said it would continue representing Jack Smith despite these measures.

"We're going to continue holding the people who were responsible for the weaponization of government - who supported it - accountable," Trump had said.

(Reporting by Deborah Sophia, Juveria Tabassum, Niket Nishant, Shivansh Tiwary, Savyata Mishra, Kritika Lamba, Arsheeya Bajwa and Zaheer Kachwala in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur)

(([email protected];))

Aug 25 (Reuters) - Tata Motors Ltd TAMO.NS:

• TATA MOTORS LTD - NCLT SANCTIONS SCHEME OF ARRANGEMENT

• TATA MOTORS - SCHEME AMONGST CO, TML COMMERCIAL VEHICLES, TATA MOTORS PASSENGER VEHICLES SANCTIONED

Source text: ID:nBSE8rHY1T

Further company coverage: TAMO.NS

(([email protected];;))

Adds details on Comcast in paragraphs 39-40

Aug 22 (Reuters) - U.S. President Donald Trump has escalated his criticism and actions against executives, corporations and institutions alike. His unprecedented actions, from novel export deals to frozen university grants, have upended the status quo between the government, law, academia and corporate America.

Earlier this week, Trump questioned if Goldman Sachs CEO David Solomon should remain at the helm, slamming him for the bank's prediction that tariffs would hurt the U.S. economy.

Here are some influential figures and entities that Trump has publicly criticized:

GOLDMAN SACHS GS.N

Goldman's economic research arm had published a note earlier that said U.S. consumers had absorbed 22% of tariff costs through June, and their share could rise to 67% if the recent levies follow the same pattern as the earliest ones. "David Solomon and Goldman Sachs refuse to give credit where credit is due," Trump said in a post on Truth Social, shortly thereafter.

Trump said it was mostly "companies and governments, many of them foreign, picking up the tabs". He also took a dig at Solomon for his former DJ-ing hobby.

INTEL INTC.O

Trump recently demanded Intel CEO Lip-Bu Tan step down due to China ties. Reuters reported exclusively in April that Tan invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military.

"The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem," Trump said in a post on his Truth Social platform.

Tan responded to Trump, saying he shared the president's commitment to advancing U.S. national and economic security and that the Intel board was "fully supportive of the work we are doing to transform our company."

After a meeting between the two earlier this week, Trump praised Tan.

TESLA TSLA.O

The EV giant's billionaire tech CEO Elon Musk spent hundreds of millions of dollars supporting Trump's re-election, a move investors who bid up Tesla stock expected to benefit Musk's empire.

Trump and Musk, however, had a falling out early in June after Musk criticized Trump's sweeping tax-cut and spending bill, because it was projected to increase federal debt.

Trump responded to Musk's attack on Truth Social, threatening to cut federal subsidies and contracts to Musk's companies and saying the billionaire "just went CRAZY" after losing the EV mandate in the bill.

ADRIAN MARDELL, FORMER CEO, JAGUAR LAND ROVER

Trump criticized Jaguar's rebranding effort in August, calling the campaign "woke" and "stupid," and linking it to the departure of the company's CEO.

The remarks from Trump came as the British carmaker, now owned by India's Tata Motors TAMO.NS, announced the retirement of CEO Adrian Mardell, who spent more than three decades at the company.

Jaguar last year unveiled a new logo and visual identity as part of a broader brand refresh aimed at repositioning itself as an all-electric automaker, a move that drew sharp online backlash and criticism from brand loyalists.

APPLE AAPL.O

Trump has repeatedly targeted Apple and its boss, Tim Cook, for making U.S.-sold iPhones outside the country and has threatened company-specific tariffs.

In May, Trump recalled after a meeting in the Qatari capital Doha, that he had confronted Cook about shifting production to India, amid the company's plans to make most of its iPhones sold in the U.S. at factories in India by the end of 2026.

Trump had said in a social media post that he told Cook "long ago" that "I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else."

Earlier this week, though, Trump announced Apple would invest an additional $100 billion in the U.S., raising Apple's total domestic commitment to $600 billion over the next four years. Cook also gave Trump a U.S.-made souvenir with a 24-karat gold base.

AMAZON.COM AMZN.O

Trump called Amazon's former CEO Jeff Bezos in April to complain about a news report that said the company planned to display prices showing tariffs' impact on ecommerce giant Amazon.com.

However, Amazon said it had only briefly considered listing import charges for some goods in April following Trump's tariff announcement but dropped the plan as the White House accused the company of a "hostile political act."

Trump later told reporters that Bezos had solved the problem "very quickly" and was "very nice."

BANK OF AMERICA BAC.N AND JPMORGAN CHASE JPM.N

Trump alleged BofA CEO Brian Moynihan and JPMorgan chief Jamie Dimon discriminated against him and his supporters. Earlier he had said they did not provide banking services to conservatives.

"What you're doing is wrong," Trump said, in a video address at the World Economic Forum in Davos, Switzerland. Trump did not cite evidence or specifics of any wrongdoing, in a question-and-answer session with corporate leaders and CEOs assembled on stage.

He also referenced JPMorgan's Dimon. "You and Jamie and everybody, I hope you're gonna open your bank to conservatives."

Both lenders have denied the allegations of "debanking" on multiple occasions.

WALMART WMT.N

Trump said in May that Walmart and China should "eat the tariffs" and not burden American shoppers, after Walmart CEO Doug McMillon said the retailer could not absorb all tariff-related costs because of narrow retail margins.

"Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected," Trump said in a social media post.

While Trump did not call out McMillon personally, he publicly criticized Walmart for attributing its price hikes in May to tariffs imposed by his administration.

COMCAST CMCSA.O

Trump criticized Comcast and its cable news network MSNBC for its news coverage of his administration. He said to reporters, "They're changing the name because they're ashamed of it, and they're disassociating it from NBC," referring to MSNBC's name change to MS NOW.

In a post on his social media platform on Thursday, Trump also called Comcast a "weak and ineffective owner ... headed by ... Brian Roberts."

SMITHSONIAN INSTITUTION:

The White House has said it will lead an internal review of some Smithsonian museums and exhibitions ahead of the 250th anniversary of the U.S. Declaration of Independence.

In an executive order in March, Trump said the institution had come under the influence of a "divisive, race-centered ideology" in recent years.

HARVARD UNIVERSITY

Trump targeted the country's oldest and richest university, canceling about $2.5 billion federal grants and mounted efforts to cut off research funding to Harvard, as a part of a larger campaign to force change at U.S. universities, which Trump says are gripped by antisemitic and "radical left" ideologies.

"We are going to be taking away Harvard's Tax Exempt Status. It's what they deserve!" Trump wrote in a post on his social media platform in May.

COLUMBIA UNIVERSITY

In March, the Trump administration said it was penalizing Columbia over how it handled last year's protests by canceling $400 million in federal funding.

"This is the first arrest of many to come. We know there are more students at Columbia and other Universities across the Country who have engaged in pro-terrorist, anti-Semitic, anti-American activity, and the Trump Administration will not tolerate it."

Trump had said in a social media post after the arrest of a Palestinian graduate student Mahmoud Khalil played a prominent role in the protests.

Later in July, the university said it will pay over $200 million to the U.S. government in a settlement with Trump's administration.

LAW FIRMS

Trump targeted law firm Perkins Coie in March with an executive order that suspended security clearances for its employees and restricted their access to federal buildings over its ties to Hillary Clinton and DEI policies.

Trump had said it was "an absolute honor to sign" the order. Trump also targeted New York law firm Paul, Weiss, Rifkind, Wharton & Garrison in March with a similar order, which he later withdrew after striking a deal.

Law firm Covington & Burling faced Trump's presidential memorandum in February, which suspended security clearances for Peter Koski and all Covington employees who assisted former special counsel Jack Smith, who prosecuted Trump.

Covington had said it would continue representing Jack Smith despite these measures.

"We're going to continue holding the people who were responsible for the weaponization of government - who supported it - accountable," Trump had said.

(Reporting by Deborah Sophia, Juveria Tabassum, Niket Nishant, Shivansh Tiwary, Savyata Mishra, Kritika Lamba and Arsheeya Bajwa in Bengaluru; Editing by Anil D'Silva and Sriraj Kalluvila)

(([email protected];))

Aug 18 (Reuters) - Indian auto stocks jumped 4% to their highest level in 10 months on Monday, after Reuters reported that the government has proposed lowering the goods and services tax on small cars as part of sweeping consumption tax cuts.

Auto shares were the top sectoral gainers on the benchmark Nifty 50 .NSEI, which rose 1.3%.

The government has proposed lowering the goods and services tax on small petrol and diesel cars to 18% from 28%, Reuters reported citing a government source.

India's finance ministry did not reply to an e-mail seeking comment.

All 15 stocks on the auto index rose. Motorcycle maker Hero MotoCorp HROM.NS jumped 7%, followed by top carmaker Maruti Suzuki's MRTI.NS 6.6% rise.

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected]; 8800437922;))

By Nikunj Ohri, Aftab Ahmed and Aditya Kalra

NEW DELHI, Aug 17 (Reuters) - Indian Prime Minister Narendra Modi's deepest tax cuts in eight years will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington.

In the biggest tax overhaul since 2017, Modi's government on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper from October, helping consumers and also companies like Nestle, Samsung and LG Electronics.

At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50% as of August 27.

The tax cut plan comes with costs given GST is a major revenue generator. IDFC First Bank says the cuts will boost India's GDP by 0.6 percentage points over 12 months but will cost the state and federal government $20 billion annually.

But it will improve weak stock market sentiment and bring political dividends for Modi ahead of a critical state election in the eastern state of Bihar, said Rasheed Kidwai, a fellow at New Delhi-based Observer Research Foundation.

"GST reduction will impact everyone, unlike cuts to income tax, which is paid by only 3%-4% of the population. Modi is doing this as he is under a lot of pressure due to U.S. policies," said Kidwai.

"The move will also help the stock market, which is now politically important as it has a lot of retail investors."

India launched the major tax system in 2017 that subsumed local state taxes into the new, nationwide GST to unify its economy for the first time.

But the biggest tax reform since India's independence faced criticism for its complex design that taxes products and services under four slabs - 5%, 12%, 18% and 28%.

Last year, India said caramel popcorn would be taxed at 18% but the salted category at 5%, triggering criticism about a glaring example of GST's complexities.

Under the new system, India will abolish the 28% slab - which includes cars and electronics - and move nearly all of the items under the 12% category to the lower 5% slab, benefitting many more consumer items and packaged foods.

Government data shows the 28% and 12% tax slabs together garner 16% of India's annual GST revenue of roughly $250 billion last fiscal year.

'A BRIGHTER GIFT' AND POLITICS

Bihar is a key state politically and goes to the polls by November. A recent survey by the VoteVibe agency showed Modi's opposition has an edge largely because of a lack of jobs.

"Any tax cut has wide public appreciation. But of course, the timing is purely determined by political exigencies," said Dilip Cherian, a communications consultant and co-founder of Indian public relations firm Perfect Relations.

"It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation."

Modi's ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, "a brighter gift of simpler taxes and more savings is waiting for every Indian."

Modi has vowed to protect farmers, fishermen and cattlemen, following Trump's surprise tariff announcement on India, after trade talks between New Delhi and Washington collapsed over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases.

The latest round of trade talks between the two nations set for August 25-29 has also been called off.

($1 = 87.5080 Indian rupees)

(Reporting by Nikunj Ohri, Aftab Ahmed and Aditya Kalra; Editing by Sonali Paul)

((Email: [email protected]; X: @adityakalra;))

Aug 13 (Reuters) - Tata Motors-owned TAMO.NS Jaguar Land Rover is recalling more than 121,500 vehicles in the United States due to cracked suspension knuckles in the front, the U.S. National Highway Traffic Safety Administration said on Wednesday.

The recall includes Range Rover and Range Rover Sport vehicles, NHTSA said.

(Reporting by Ananya Palyekar in Bengaluru; Editing by Janane Venkatraman)

(([email protected];))

Updates paragraph 1, adds Goldman Sachs, Amazon.com

Aug 12 (Reuters) - U.S. President Donald Trump on Tuesday criticized Goldman Sachs GS.N CEO David Solomon for the bank's take on the potential impact of tariffs on the economy, as the president's tiff with corporate America's bigwigs widens.

Trump had last week demanded that Intel's INTC.O CEO Lip-Bu Tan resign immediately in what was a rare presidential attempt to determine who leads a company, and the president has been vocal about his complaints concerning corporate policies and operations since he took office in January.

Here are some prominent CEOs and businesses that Trump has publicly criticized:

DAVID SOLOMON, CEO, GOLDMAN SACHS

Trump criticized Solomon in a post on Truth Social. Goldman Sachs Economics Research in a note published on August 10 said that U.S. consumers had absorbed 22% of tariff costs through June and their share will rise to 67% if the recent levies follow the same pattern as the earliest ones.

However, Trump responded that it was mostly "companies and governments, many of them foreign, picking up the tabs", and that "David Solomon and Goldman Sachs refuse to give credit where credit is due."

LIP-BU TAN, CEO, INTEL

Trump's demand for the Intel CEO's departure came after Reuters reported exclusively in April that Tan invested at least $200 million in hundreds of Chinese advanced manufacturing and chip firms, some of which were linked to the Chinese military.

"The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem," Trump said in a post on his Truth Social platform.

Tan responded to Trump late on Thursday, saying he shared the president's commitment to advancing U.S. national and economic security and that the Intel board was "fully supportive of the work we are doing to transform our company."

ELON MUSK, CEO, TESLA

The billionaire tech CEO spent hundreds of millions of dollars supporting Trump's re-election, a move investors who bid up Tesla stock expected to benefit Musk's empire.

Trump and Musk, however, had a falling out early in June after Musk criticized Trump's sweeping tax-cut and spending bill, because it is projected to increase federal debt.

Trump responded to Musk's attack on Truth Social, threatening to cut federal subsidies and contracts to Musk's companies and saying the billionaire "just went CRAZY" after losing the EV mandate in the bill.

By early July, Trump messaged, "Perhaps we should have DOGE take a good, hard, look at (Musk's contracts)?" Days later, Musk announced the formation of a centrist America Party. The President responded to Musk's move, calling him a "train wreck."

ADRIAN MARDELL, FORMER CEO, JAGUAR LAND ROVER

Trump criticized Jaguar's rebranding effort in August, calling the campaign "woke" and "stupid," and linking it to the departure of the company's CEO.

The remarks from Trump came as the British carmaker, now owned by India's Tata Motors TAMO.NS, announced the retirement of CEO Adrian Mardell, who spent more than three decades at the company.

Jaguar last year unveiled a new logo and visual identity as part of a broader brand refresh aimed at repositioning itself as an all-electric automaker, a move that drew sharp online backlash and criticism from brand loyalists.

TIM COOK, CEO, APPLE

Trump has repeatedly targeted Apple and its boss, Cook, for making U.S.-sold iPhones outside the country and has threatened company-specific tariffs.

In May, Trump recalled after a meeting in the Qatari capital Doha, that he had confronted Cook about shifting production to India, amid the company's plans to make most of its iPhones sold in the U.S. at factories in India by the end of 2026.

Trump had said in a social media post that he told Cook "long ago" that "I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else."

Trump threatened Apple in May with a 25% tariff on products manufactured overseas. Apple is already reeling from Trump's tariff war, warning that tariffs would add $1.1 billion in costs in the July-September quarter after costing the company $800 million in the June quarter.

Earlier this week, though, Trump announced Apple would invest an additional $100 billion in the U.S., raising Apple's total domestic commitment to $600 billion over the next four years. Cook also gave Trump a U.S.-made souvenir with a 24-karat gold base.

JEFF BEZOS, CEO, AMAZON.COM

Trump called Bezos in April to complain about a news report that said the company planned to display prices showing tariffs' impact on ecommerce giant Amazon.com.

However, Amazon said it had only briefly considered listing import charges for some goods in April following Trump's tariff announcement but dropped the plan as the White House accused the company of a "hostile political act."

Trump later told reporters that Bezos had solved the problem "very quickly" and was "very nice."

BRIAN MOYNIHAN, CEO, BANK OF AMERICA

JAMIE DIMON, CEO, JPMORGAN CHASE

Trump alleged BofA CEO Brian Moynihan and JPMorgan Chase JPM.N CEO Jamie Dimon discriminated against him and his supporters.

In January, Trump accused both Moynihan and Dimon of not providing banking services to conservatives, echoing Republican complaints about the industry.

"What you're doing is wrong," Trump said, in a video address at the World Economic Forum in Davos, Switzerland. Trump did not cite evidence or specifics of any wrongdoing, in a question-and-answer session with corporate leaders and CEOs assembled on stage.

He also referenced JPMorgan's Dimon. "You and Jamie and everybody, I hope you're gonna open your bank to conservatives."

Trump said in an interview with CNBC earlier in August, "When I called him (Moynihan) after I was president to deposit a billion dollars plus and a lot of other things, more importantly, to open accounts, he said, 'We can't do it. No, we can't do it.'"

Both lenders have denied the allegations of "debanking" on multiple occasions.

DOUG MCMILLON, CEO, WALMART

Trump said in May that Walmart and China should "eat the tariffs" and not burden American shoppers, after Walmart CEO Doug McMillon said the retailer could not absorb all tariff-related costs because of narrow retail margins.

"Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected," Trump said in a social media post.

While Trump did not call out McMillon personally, he publicly criticized Walmart for attributing its price hikes in May to tariffs imposed by his administration.

(Reporting by Deborah Sophia, Juveria Tabassum, Niket Nishant, Shivansh Tiwary and Savyata Mishra in Bengaluru; Editing by Anil D'Silva and Sriraj Kalluvila)

(([email protected];))

** Tata Motors TAMO.NS posts a 63% fall in Q1 profit, as U.S. tariffs and planned phase out of Jaguar Land Rover models dealt a direct blow to profit and cash flow.

** Shares trading flat early on Monday, down 0.09 at 633 rupees by 09:19 am IST

WEAKENED DEMAND IN PV AND JLR AMIDST TARIFF UNCERTAINTY DRAG SALES

**Macquarie ("outperform", PT: 633 rupees) says cost optimisation and pricing should support margins, but risks remain from potential demand slowdown and a 10% luxury tax in China (13% of volume), affecting the full JLR lineup.

** Jefferies ("underperform", PT:550 rupees) says multiple headwinds impact businesses. Luxury segment, JLR, faces increased competition and consumption tax in China. Adds unconvinced about $4.36 bln deal with Italy's Iveco IVG.MI

** JP Morgan ("neutral", PT: 740 rupees) says despite a big miss in private vehicles sales and JLR, the quarter was helped by the increased revenue from the domestic commercial vehicles sales. Adds, expect slight cuts to consensus numbers mainly due to PV business underperformance.

(Reporting by Urvi Dugar)

(([email protected];))

Adds CFO comment in paragraph 5

By Chandini Monnappa and Nandan Mandayam

Aug 8 (Reuters) - Indian automaker Tata Motors TAMO.NS posted a 63% slump in quarterly profit on Friday, its fourth straight quarter of decline, as U.S. tariffs hurt businesses that were already reeling from weak sales.

U.S. duties wiped 254 million pounds ($341.33 million) off its quarterly earnings, the company said, adding that the tariffs and its planned model phase-out for its luxury Jaguar Land Rover cars, made predominantly in the United Kingdom, dealt a direct blow to profit and cash flow.

However, kept its JLR forecast unchanged, saying a U.S.-UK trade deal signed in May would sharply cut the tariff hit.

It had earlier reported a 11% fall in overseas sales at its luxury car unit due to the U.S. export halt and the phase-out of older Jaguar models.

Speaking to reporters in a post-earnings call, Chief Financial Officer P.B. Balaji also said that China's ban on rare earth magnets export had not affected the company, and added that it had de-risking plans in place to avoid any impact in the medium term.

Last week, rivals Hyundai Motor India HYUN.NS and Mahindra & Mahindra MAHM.NS had downplayed concerns over the export ban.

The magnets are key to EV motors and components in conventional cars such as power windows and speakers.

The company reported a profit of 39.24 billion rupees ($447.8 million) in the April-June quarter, down from a restated 105.14 billion rupees a year earlier that includes a 49.75-billion-rupee one-time gain.

Excluding the gain, profit was down 30.5%.

Quarterly revenue fell 2.5% from a year earlier as sales slowed, mirroring trends at Maruti Suzuki India MRTI.NS and Hyundai.

Tata Motors expects demand to remain challenging but aims to boost performance as clarity on tariffs emerges and festive demand picks up, Balaji said.

The results follow two major developments - Tata Motors' $4.36 billion acquisition of Italian truckmaker Iveco and JLR chief Adrian Mardell's exit.

Mardell, who had been with the company for more than three decades, revamped the Jaguar brand, delivered its highest profit in a decade and cut $6.6 billion in debt.

Earlier this month, Tata Motors named CFO Balaji as JLR's new CEO.

($1 = 87.6200 Indian rupees)

($1 = 0.7442 pounds)

(Reporting by Chandini Monnappa and Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; Mobile: +91 9591011727;))

** Indian auto parts makers drop 1%-2%; Tata Motors TAMO.NS down 2%

** U.S. announces additional 25% tariff on Indian goods over its Russian oil purchases, taking total tariffs to 50%

** U.S. reliant parts makers Sona BLW SONB.NS and Bharat Forge BFRG.NS decline as much as 2% and 3%, respectively

** Other parts makers Samvardhana Motherson SAMD.NS and tyre maker Balkrishna Industries BLKI.NS down 1.6% and 0.2%, respectively

** TAMO, whose luxury unit Jaguar Land Rover gets one-fourth of sales from U.S., also falls 2%

** Autos index .NIFTYAUTO down 0.6% with 11 out of 15 constituents trading in red

** An auto dealers body also flagged anticipated wealth erosion from fresh tariffs by the U.S. which can exert pressure on discretionary spending, including on vehicles

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, August 6 (Reuters Breakingviews) - Tata Motors' TAMO.NS latest cross-border acquisition comes with a peculiar Indian flavour. The automaker's heavy-vehicles unit will raise equity to pay off some of the 3.8 billion euro ($4.4 billion) loan for its buyout of the non-defence business of Italy's Iveco IVG.MI unveiled last week. Its determination to turn debt-free as soon as possible is inspired by a mix of strategic goals and local compulsions.

Morgan Stanley MS.N and MUFG Bank underwrote the loan that will be syndicated to other lenders. Eighteen months from now, the Indian truckmaker, which is due to be spun off from Tata Motors on October 1, will sell shares worth up to 1 billion euros ($1.14 billion) to pay back its creditors.

Armed with fresh equity and proceeds from the sale of its up to 4.7% stake in shadow lender Tata Capital, the truckmaker expects to pay down the debt within four years and break even on earnings per share in half the time, Tata Motors' Chief Financial Officer P.B. Balaji said on Thursday.

A share sale might seem sub-optimal for the offshoot of a company that S&P Global confers with a long-term credit rating one notch higher than India itself. Moreover, the truckmaker's net debt is likely to stay at just 1.3 times its post-acquisition two-year forward EBITDA, estimates by ICICI Securities show.

The equity raise is partly a nod to matching a financial standard set by bus- and truck-making rivals like Daimler DTGGe.DE and Traton 8TRA.DE, which along with China's Sinotruk 3808.HK lead the combined Tata-Iveco business in sales and whose core vehicle units' balance sheets sport net cash. Equity funding offers a cushion in a scenario where slow global growth could upset the truckmaker's earnings estimates and extend the loan repayment timeline by a few years.

But announcing a share sale is just as much about appeasing Indian investors who stick their noses up at businesses with leverage. It's a legacy of the twin balance sheet problem that plagued Indian companies and banks through the six years to 2020. Covid induced a lasting campaign of deleveraging across India Inc: Fitch expects companies' median EBITDA net leverage to fall to 3.1 times during the year to end March 2026 from 3.6 times in the previous year.

With its autos business sporting net cash for the first time in 20 years, Tata Motors is understandably wary of its subsidiary looking like the slow horse in the race.

Follow Shritama Bose on Linkedin and X.

CONTEXT NEWS

The commercial vehicles unit of Tata Motors will raise about 1 billion euros ($1.14 billion) of equity to repay the loan funding its $4.5 billion offer to buy Iveco's trucks and bus business, the Indian automaker's Group Chief Financial Officer P.B. Balaji said on July 31. Morgan Stanley and MUFG will underwrite the $4.5 billion bridge loan to secure the deal.

"There will be a fundraise that will happen. We also have Tata Capital that we will monetise to make sure that the equity raise is limited," Balaji said in a call with investors. Tata Motors holds a 4.7% stake in non-bank lender Tata Capital, which filed confidentially for an up to $1.88 billion initial public offer in April, per IFR.

The equity raise will happen "sometime in the next 18 months," Balaji said in a separate conversation with journalists.

The funding strategy will allow the merged truck business to break even in terms of earnings per share within two years and repay the acquisition debt within four years.

Tata Motors will demerge its cars and trucks units into two separate entities, Tata Motors Passenger Vehicles and TML Commercial Vehicles, effective October 1.

(Editing by Antony Currie; Production by Ujjaini Dutta)

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Aug 5 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Scottish rocket maker looks abroad for launch due to lack of UK facilities

- Jaguar Land Rover names Tata Motors CFO as new chief executive

- Donald Trump's move on institutions 'wrong', says German finance minister

- Liechtenstein's LGT invests in CVC-owned Teneo

- UK aims to slash clinical trials set-up time from 9 months to 10 weeks

Overview

- Scottish rocket maker Skyrora is exploring the possibility of launching from Australia, after it was granted a long-awaited UK licence only to learn there are no British facilities available for the rest of the year.

- Jaguar Land Rover has appointed the finance boss of Tata Motors TAMO.NS, PB Balaji, as its new chief executive, in a move that increases the Indian owner's influence over the UK luxury-car maker.

- Germany's finance minister Lars Klingbeil has criticised Donald Trump's move to interfere with the Federal Reserve's rate policies and fire a chief statistician, saying the US president's actions were politically "wrong".

- Teneo has received a minority investment from an asset manager owned by Liechtenstein's royal family, in a deal that values the advisory group at $2.3bn and ends a long-running process by the firm's owner CVC to sell down its stake.

- The UK government is seeking to cut the time it takes to set up clinical trials by more than two-thirds, as it aims to lure more companies to Britain and boost the life sciences sector.

(Compiled by Bengaluru newsroom)

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Aug 4 (Reuters) - British carmaker Jaguar Land Rover's (JLR) board has named P B Balaji as its next CEO, replacing Adrian Mardell, parent Tata Motors TAMO.NS said on Monday.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Shailesh Kuber)

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** Tata Motors TAMO.NS plans to raise about 1 billion euros ($1.14 billion) of equity to repay part of the loan funding its $4.5 billion offer to buy Iveco's IVG.MI trucks and bus business

** Shares down 2.2% at 651.50 rupees, among biggest drags on 15-member Nifty Auto .NIFTYAUTO index

'RISKY DETOUR'

** Jefferies ("underperform," PT: 600 rupees) says it is not convinced by TAMO's acquisition of IVG, calling it "a risky detour"

** Adds, European acquisitions have historically posed challenges for several Indian companies

** Emkay Global ("Buy," PT: 750 rupees) says it is concerned over a combined TAMO-IVG's exposure to low-growth region Europe

** Iveco "is not cheap" with a ~9x trailing consol P/E, valued closely to larger peer Daimler's ~11X P/E - Emkay

** Nomura ("Neutral," PT: 799 rupees) says it is concerned the deal increases risk perception tied to TAMO's stock at a time when investors are averse to volatility

** HDFC Securities ("Reduce," PT: 694 rupees) says deal comes at a tough time for TAMO, whose JLR and domestic business sales are stalling

($1 = 0.8753 euros)

(Reporting by Nandan Mandayam in Bengaluru)

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Adds details in paragraph 2 and 3, background throughout

LONDON, July 31 (Reuters) - Jaguar Land Rover chief Adrian Mardell will step down after more than three decades at the company, having said he wanted to retire after three years as CEO, a spokesperson for the automaker said on Thursday.

His successor will be announced in due course, the spokesperson added.

Mardell, who joined JLR in 1990, became chief executive in November 2022 - following a stint as chief financial officer from June 2019 - and spearheaded a major brand revamp at Jaguar.

During his tenure, the British luxury carmaker - a wholly owned subsidiary of India's Tata Motors TAMO.NS - posted its highest profit in a decade, eliminated 5 billion pounds ($6.6 billion) in debt and posted its strongest operational performance to date.

JLR in April paused exports of its British-made vehicles to the United States for a month after President Donald Trump imposed a 25% tariff on all imported cars. It resumed exports in May.

The U.S., which accounts for nearly a quarter of JLR’s global sales, is a key market for its high-margin Range Rover and Defender models.

JLR has no manufacturing presence in the U.S. and its Range Rovers are built in Britain, now subject to a 10% levy, while its Defenders are assembled in Slovakia, which faces a 15% duty.

Jaguar has plants in Britain.

Mardell was among the guests at the opening of Donald Trump's new golf course in Scotland on Monday, part of the U.S. president's five-day visit to the UK.

($1 = 0.7558 pounds)

(Reporting by Sam Tabahriti; Additional reporting by Aditi Shah in New Delhi; Editing by William Schomberg and David Holmes)

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