With thousands of jobs at stake, UK govt seizes British Steel in emergency law rescue

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LONDON, April 13 — The UK government said it was taking control of Chinese-owned British Steel yesterday after rushing a...

Jingye bought British Steel in 2020 and says it has invested more than £1.2 billion (RM6.94 billion) to maintain operations but is losing around £700,000 a day.

Reynolds explained the government had sought to buy raw materials to keep the furnaces running with “no losses whatsoever for Jingye”, but met with resistance.

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Category: EconomyBusiness

Markets: MalaysiaArgentinaChinaIndia

Topics: British steel Kier Starmer Uk parliament Emergency law Saturday recall

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-13 @ 12:52:23 (1 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 816 words

Reading Time: 5 minutes read

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Copyright Owner: © Malay Mail

News ID: 27824990

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