Britain’s biggest steel maker Tata Steel has confirmed it will take advantage of the government’s multi-million pound furlough retention bonus, after John Lewis and Primark turned down the taxpayer handout. The Indian-based company, which runs the Port Talbot steelworks in South Wales, furloughed around a third of its 8,000 UK employees at some stage during … Read more
When it comes to bailing out firms affected by Covid-19, Rishi Sunak is no pushover. As someone who spent much of his pre-Commons career in private equity, the Chancellor has a good grip on likely survival candidates, and will be keen to make sure all private sector options have been exhausted. There was reluctance in … Read more
Britain’s biggest steelmaker Tata Steel seeks taxpayer bailout of £500m – 10 times the amount available under government support scheme Tata Steel is in need of £500m funding package due to coronavirus impact Company has approached UK and Welsh Governments for financial support Local MP Stephen Kinnock asked Treasury to lift cap on business loans Tata Steel … Read more
Port Talbot steelworks’ owner Tata Steel seeks £500m loan from UK Government Talks are at an early stage and no agreement is likely to be announced soon Tata Steel’s large customers, such as car makers, have stopped production The manufacturer has also been hit by a rise in raw material costs By Ben Harrington For … Read more