News Snapshot:
T he owners of one of the biggest steel producers in Britain are seeking an urgent financial support package from the government, according to reports. Jingye Group, the Chinese industrial group which bought the Scunthorpe-based steelmaker out of liquidation in 2019, fear that its two blast furnaces are unlikely to survive without government funding. Insiders told the Sky News that it estimates the firm will need “hundreds of millions of pounds” to keep the blast furnaces operational. One insider said that Jingye is prepared to make thousands of people redundant if ministers turn down its request. It would then plan...
