The UK parliament will be recalled to discuss British Steel, a loss-making Chinese-owned company that could be nationalized due to financial struggles and potential job losses. The company, owned by China’s Jingye Group, faces closure of its blast furnaces and significant daily losses, exacerbated by high energy prices and US tariffs. Finance minister Rachel Reeves stated that all options are on the table for British Steel, emphasizing the importance of maintaining steel production capacity in Britain.
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Urgent action needed to start decommissioning industry, warn unions and green groups
Thousands of jobs could be created in Western Australia through a new decommissioning industry for old offshore oil and gas rigs, but urgent government action is needed to establish a hub within two years. Unions and environmental groups warn that delay may push Australia to miss out on lucrative opportunities, as other countries like Brunei and Denmark advance their decommissioning efforts. Want More Context? 🔎
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