The British government moved swiftly on Saturday to take control of operations at the country’s last large crude steel producing facility, in what appeared to be a major step toward nationalizing the plant. In an unusual and dramatic move, the government had summoned lawmakers back from vacation on Saturday to approve the government’s emergency legislation. The government said it was acting to prevent the owners of the British Steel complex in Scunthorpe, a Chinese company called Jingye, from taking steps unilaterally to close the blast furnaces, potentially costing 2,700 jobs.

Source: The Times April 12, 2025 17:43 UTC