US EditionBritish Government Bars Chinese Ownership in Steel Industry
- The UK government took emergency control of British Steel from Jingye on Saturday.
- Jingye, a Chinese firm, threatened to shut down blast furnaces, prompting government intervention.
- Workers feared a shutdown and refused executives access; raw material orders were also cancelled.
- One union leader stated workers were "legitimately worried about sabotage" at the plant.
- The government is racing to save the last two UK blast furnaces, facing potential Chinese interference.
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British Government Bars Chinese Ownership in Steel Industry
British Government Bars Chinese Ownership in Steel Industry The British government has taken emergency measures to prevent Chinese companies from controlling the nation’s steel sector. This decisive move comes after Jingye Group, a Chinese company owning British Steel, declined a significant government aid package, threatening the integrity of Britain’s steel production industry.The refusal, combined with Jingye's intent to import steel from Chi…
·India
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Total News Sources19
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
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