Calls for steel nationalisation if deal not agreed

From bbc.com

A union has called for the government to nationalise British Steel if a deal cannot be reached with its Chinese owners to safeguard thousands of jobs. British Steel launched a consultation on the proposed closure of its two blast furnaces at Scunthorpe, putting up to 2,700 jobs at risk, saying they were "no longer financially sustainable". Industry body UK Steel warned the ending of production in Scunthorpe would mean the UK would lose vital steelmaking capabilities, after Business Secretary Jonathan Reynolds made an offer on Monday to owners Jingye, thought to be worth £500m. Community said: "If a deal can't be ... (full story)