Skip to content
Search

Latest Stories

Tata Steel UK’s Chief Executive Bimlendra Jha Resigns

TATA STEEL UK’s chief executive officer Bimlendra Jha has reigned, media reports said.

Tata Steel UK is a unit of Tata Steel Europe, and has operations in the UK, Sweden, and Canada.


Jha was at the helm of the company since 2016. He was also an executive director on the board of Tata Steel Europe, and a member of the executive committee.

Jha joined Tata Steel as a engineering graduate trainee in 1990, after completing his degree from Banaras Hindu University.

In 2010, he was elevated as vice president, long products, and later he was shifted to the European operations. Later he was appointed as executive chairman, long steel, UK.

Jha was reportedly reluctant to disclose his future plan soon after his resignation. However, he said that he would return to India and accept a new role.

Tata Steel is set to merge its European business with German steel giant Thyssenkrupp AG to create a 50-50 joint venture. The proposed venture will be called ThyssenKrupp Tata Steel and headquartered in Amsterdam.

More For You

AI investment boom

Major technology companies including Microsoft, Amazon, Google, Meta and Oracle are expected to spend approximately $1trn on AI by 2026

Getty Images

AI investment boom faces reality check as trillion-dollar spending outpaces returns

Highlights

  • OpenAI spending $1.4trn over three years but generating only $20bn profit in 2025.
  • AI chips and data centres may become obsolete within 2-3 years, threatening $1.6trn in tech valuations.
  • Only 12 per cent of US companies adopting AI for production despite massive industry hype.

The artificial intelligence investment boom that has dominated global markets faces mounting questions over sustainability, as tech giants commit trillions to infrastructure while generating minimal returns, raising fears of a potentially catastrophic economic bubble.

Major technology companies including Microsoft, Amazon, Google, Meta and Oracle are expected to spend approximately $1trn on AI by 2026, with OpenAI alone committing $1.4trn over the coming three years. However, OpenAI's expected 2025 profit of little more than $20bn represents a fraction of its spending commitments, highlighting a troubling gap between investment and returns.

Keep ReadingShow less