Tag #Nationalization

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UK Government Takes Control of British Steel Plant

The UK government took control of British Steel's Scunthorpe plant on Saturday, averting its closure by Chinese owner Jingye Group, preserving 3,000 jobs and the UK's primary steelmaking capacity after Parliament passed an emergency bill.

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UK Parliament Addresses Declining Steel Industry Amidst National Security Concerns

The UK Parliament is addressing the decline of its steel industry, which has suffered from decades of losses, job cuts, foreign ownership, and global competition, raising national security and economic concerns.

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UK Government Takes Control of British Steel

The UK government assumed control of British Steel, the last primary steel producer in the UK, on April 12th, to prevent its closure by financially struggling Chinese owner Jingye Group, avoiding the UK becoming the only G7 nation without primary steel production and mitigating risks of national sho...

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UK Government Intervenes to Prevent British Steel Plant Closure

To prevent the closure of British Steel's Scunthorpe plant and the loss of 3,500 jobs, the UK government recalled parliament on a Saturday to pass emergency legislation enabling the government to take control of the site from its Chinese owner, Jingye Group, amid global steel market instability and ...

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UK Government to Debate Emergency Laws to Save British Steel

To prevent the closure of British Steel's Scunthorpe plant, which employs 3,500 people and produces vital steel, the UK government will debate emergency laws today allowing it to take control, prompted by the owner Jingye's decision to halt operations due to unsustainable costs.

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UK Government Takes Emergency Control of British Steel

The UK government took emergency control of British Steel's Scunthorpe plant on Saturday, averting its closure and preserving 3,500 jobs after negotiations with the Chinese owner, Jingye Group, failed. The plant is the UK's last maker of virgin steel.

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UK Government Takes Control of British Steel to Avert Collapse

The UK government took temporary control of British Steel on Saturday, saving 3,500 jobs and preventing the closure of its loss-making blast furnaces after negotiations with the Chinese owner, Jingye Group, failed, amid global pressures and US tariffs.

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Record Number of Channel Migrants Arrives in UK in 2025

A record 8,064 migrants have arrived in the UK via the English Channel in 2025, up 46% on last year's figure, with 656 arriving on a single day, exceeding the daily record set in 2022. The government continues efforts to crack down on people-smuggling, but the rising numbers highlight persistent cha...

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UK Government Takes Control of British Steel's Scunthorpe Plant

The UK government will likely assume control of British Steel's Scunthorpe plant this Saturday, overriding Chinese owner Jingye to prevent closure, incurring daily costs of £700,000 to maintain operations and avoid job losses, while facing pressure to modernize amidst global uncertainties.

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British Steel Faces Closure; Parliament Debates Nationalisation

Facing potential closure, the British Steel plant in Scunthorpe, owned by Jingye, saw its Chinese owner cancel raw material orders, prompting a parliamentary debate on emergency legislation for potential nationalisation to save 3,500 jobs.

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UK Government Takes Control of British Steel Blast Furnaces

The UK Parliament initiated emergency proceedings on April 12th to authorize government control of British Steel's last two blast furnaces, averting the loss of 2,700 jobs and preventing irreversible damage to the UK's steel production capacity. The government aims to explore options to keep the pla...

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UK Parliament Approves Emergency Bill to Save British Steel

The UK Parliament passed an emergency bill on April 12th, 2025, to prevent British Steel's closure, saving 3,500 jobs; the government may nationalize the company after negotiations with Chinese owner Jingye failed due to the company's daily losses of £700,000.

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Showing 37 to 48 of 74 results