Arcelor Mittal launches global brand
ArcelorMittal, the world's biggest steel maker, has launched its global brand to reflect the identity of the new company created after the merger of Arcelor and Mittal Steel.
ArcelorMittal’s new brand is based on the theme of 'Transforming Tomorrow', with sustainability, quality and leadership as the three main values, a company statement said.

According to MN Mittal the launch of the brand was also an important part of the integration process, in that it created a common bond for employees and a clear set of values. The integration process of the two companies was progressing well, he added.

ArcelorMittal is also launching its new 'Boldness Changes Everything' global advertising campaign, the statement added.
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China urged to raise value of currency
A group of U.S. senators has introduced a bill that puts pressure on China to move faster towards raising the value of its currency.

The legislation does not name any country but would penalize countries that undervalue their currencies for unfair trade advantage.

U.S. manufacturers say that China by undervaluing its currency by as much as 40 percent, led to inexpensive Chinese imports flooding the US market and contributed to a U.S. trade deficit that touched $233 billion last year.

The bill requires the U.S. Treasury Department to identify the "fundamentally misaligned" currencies, from the result of clear government policy actions to be subject to U.S. action.

If the targeted country does not bring its currency into line within six months, the Commerce Department would be required to include the degree of currency undervaluation in its calculation of anti-dumping duties on that country. After one year, the U.S. Trade Representative's office would file a complaint at the World Trade Organization with the government responsible for the currency misalignment.

The Treasury Department also would have to consult with the Federal Reserve Board and other central banks to consider intervention in currency markets. The bill allows the president to waive the requirements if they would harm U.S. national security or the vital economic interest of the United States.

Beijing however has warned of repercussions if any legislation imposes penalties on China over its currency.
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