Reported 3 days ago
UK Members of Parliament have approved an emergency bill giving the government authority over Jingye Group's British Steel to protect jobs and production at the last remaining steel mill in the country. The legislation allows the Business Secretary to direct operations as concerns grow over Jingye's plans to shut down unprofitable facilities, potentially jeopardizing thousands of jobs. This quick legislative action comes amid complex negotiations with the Chinese company, which had previously rejected a significant government support package.
Source: YAHOO