Tag: steel
Race to keep furnaces burning at British Steel plant
Officials are working to deliver essential raw materials to British Steel’s Scunthorpe plant, the government has said, as it races to keep its blast furnaces burning. An emergency law rushed through Parliament on Saturday gave the government control of the Lincolnshire site to prevent its Chinese owner shutting it down. The government said work was…
Reynolds refuses to say if British Steel furnaces can keep running
The business secretary has refused to confirm if the government can get the sufficient raw material supplies in time to keep the blast furnaces at British Steel running, after it took control of the Chinese-owned plant. Emergency legislation was rushed through Parliament on Saturday to prevent owners Jingye shutting down its two blast furnaces in…
Chris Mason: British Steel law rushed through Parliament but it is just a stop gap
There was a moment where all they could do was wait. Government officials were holed up in a Premier Inn down the road from British Steel’s steelworks in Scunthorpe and parliament’s work to change the law to allow them to take control of the Chinese-owned company was complete. But they couldn’t move yet. All they…
Why is British Steel in trouble and who owns it?
The UK government is poised to take control of a major British Steel plant in Scunthorpe, which is at risk of imminent closure. MPs have been called back from their Easter break to pass an emergency law which would keep the Chinese-owned site operating. British Steel’s plant in Scunthorpe, Lincolnshire, employs 2,700 people, about three-quarters…
PM aims to pass emergency law on Saturday to ‘take control’ of British Steel plant
Parliament will be recalled for a rare Saturday sitting to pass an emergency law aimed at saving British Steel’s Scunthorpe plant from imminent closure. Sir Keir Starmer said the legislation would allow ministers to “take control” of the Lincolnshire site and stop its Chinese owner from closing its blast furnaces. The move opens the door…
How a Cheap Drone Punctured Chernobyl’s Steel Shield During the Ukraine War
Russia-Ukraine War The steel shell that encloses the site of the world’s worst nuclear disaster was built to endure for a century. But war was a scenario its engineers never envisioned. A Ukrainian air defense unit illuminating a hole in the steel shield at the Chernobyl nuclear power plant last month. The fire started by…
Trump raises Canadian steel and aluminum tariffs to 50% as trade war escalates
President cites Ontario’s recent imposition of 25% surcharge on electricity exports to US as reason for doubling duties Donald Trump has announced he is doubling tariffs on Canadian steel and aluminum from 25% to 50% as a retaliation for the province of Ontario’s imposition of a 25% surcharge on electricity exports to several US states,…
Trump announces double tariffs on Canadian steel and aluminum
Danielle Kurtzleben The day before steel and aluminum tariffs are set to go into effect, President Trump announced he would specifically set tariffs on Canadian steel and aluminum at double the rate of the rest of the world. “I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all…
Trump says he will impose a 25% tariff on aluminum and steel imports
Scott Horsley President Trump says he plans to announce a 25% tax on all imported steel and aluminum, extending a trade battle he launched during his first term in the White House. The move has the potential to give a helping hand to domestic steel and aluminum makers, while also raising costs for businesses and…
U.S. Steel sues to salvage its sale to Japan’s Nippon Steel
Scott Horsley U.S. Steel and its would-be Japanese suitor Nippon Steel have gone to court to defend their $15 billion merger, after President Biden on Friday moved to block the deal, citing national security concerns. In a lawsuit filed Monday in federal court in Washington, the companies accuse the president of violating their due process…
Biden Blocks Takeover Bid of U.S. Steel by Japan’s Nippon
The president said he was moving to protect national security in deciding the fate of the iconic Pennsylvania-based company, which became a contentious political issue in an election year. By Alan Rappeport Reporting from Washington President Biden blocked the $14 billion takeover of U.S. Steel by Nippon Steel of Japan in an announcement on Friday…
Biden blocks Nippon Steel from buying US Steel
US President Joe Biden has formally blocked the takeover of US Steel by a bigger Japanese company, saying foreign ownership could pose risks for national security. The controversial decision comes a year after Nippon Steel first announced the $14.9bn (£12bn) deal, describing it as a lifeline for its smaller Pennsylvania-based rival. But the transaction soon…