Tata Steel plunges into the red

Updated
Tata
Tata

India's Tata Steel has plunged into the red with losses of £840 million after wiping £1 billion off the value of its European arm, which employs 18,500 people in the UK.

The overall post-tax figure for the group represents a sharp fall from the previous year's £642 million profit, and is largely accounted for by the write-down.
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