Government stepped in to take control of struggling company but is keen to attract private sector investment
Plus, Bill Ackman quietly builds a big stake in Hertz and RedBird swoops in to take control of The Telegraph sale
Jingye makes first comments after ministers seized control of struggling company
From the outset there were doubts that Jingye Group could turn round the business where so many others had failed
Ministers have intervened to keep the country’s last two blast furnaces open — for now
Making the metal at home is a trade-off that seems more appealing when global trust in commerce is scarce
China warns against politicising crisis at Scunthorpe plant after ministers step in to take control
Ministers urged to review Beijing’s role in critical national infrastructure and supply chains
Officials work to ensure shipments arrive quickly after emergency government intervention
Government now has tricky task of running a costly and complex industrial operation
MPs vote in favour of bill giving the government powers to seize control of British Steel
Prime minister announces recall of parliament as government races to prevent closure of UK’s last two blast furnaces
Public ownership could be the saviour of the UK’s remaining steel industry
Offer comes as Chinese-owned steelmaker prepares to idle one of its two blast furnaces at Scunthorpe
Starmer vows to do ‘everything we can to ensure there’s a bright future’ for steelmaker’s main site in Scunthorpe
Company had £736mn of debt at end of 2023, much of it from entities controlled by its Chinese parent Jingye
Jingye rejected £500mn government offer and could close its two blast furnaces as early as June
Chinese-owned group will start consultation on cutting roles, it told workers on Thursday
Move triggers fears about job losses at company’s flagship Scunthorpe site
Shutdown last year blamed on wrong coal and is latest sign of difficulties at Chinese-owned operations
Public ownership for lossmaking business least preferred route as deal sought over future with Chinese owner
Support package drawn from £2.5bn war chest being prepared to try and keep Scunthorpe site open
Concerns mount about future of Chinese-owned company that employs thousands in UK
Chair of Indian parent company says talks with the British government are ‘going well’
Move by Jingye is expected before Christmas and would put at risk thousands of jobs
