This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-35922046
The article has changed 10 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Tata Steel 'to sell UK business' | |
| (35 minutes later) | |
| Steel giant Tata is expected to announce the sale of its loss-making UK business, union sources say. | Steel giant Tata is expected to announce the sale of its loss-making UK business, union sources say. |
| The decision puts the jobs of thousands of UK workers in doubt. | |
| The Indian company held a board meeting in Mumbai on Tuesday at which the decision was made to sell its UK steel operations. | The Indian company held a board meeting in Mumbai on Tuesday at which the decision was made to sell its UK steel operations. |
| Union leaders had travelled to Mumbai in a bid to persuade Tata to invest in the business, but appear to have failed. | Union leaders had travelled to Mumbai in a bid to persuade Tata to invest in the business, but appear to have failed. |
| They had hoped Tata would agree to a turnaround plan to keep making steel at Port Talbot and other UK plants including Rotherham, Corby and Shotton. | They had hoped Tata would agree to a turnaround plan to keep making steel at Port Talbot and other UK plants including Rotherham, Corby and Shotton. |
| Labour leader Jeremy Corbyn said he was "deeply concerned" and called on the government to intervene. | |
| Plaid Cymru leader Leanne Wood tweeted: "If reports from Mumbai are true, it's devastating. @Plaid-Cymru wants Assembly recall. All must work together now to save our steel industry." | Plaid Cymru leader Leanne Wood tweeted: "If reports from Mumbai are true, it's devastating. @Plaid-Cymru wants Assembly recall. All must work together now to save our steel industry." |
| Labour MP Stephen Kinnock, who is with the union delegation in Mumbai, had urged Tata to "hold its nerve" and criticised the government for not sending a minister to lobby the Tata board. | Labour MP Stephen Kinnock, who is with the union delegation in Mumbai, had urged Tata to "hold its nerve" and criticised the government for not sending a minister to lobby the Tata board. |
| Chinese competition | Chinese competition |
| Business Secretary Sajid Javid is travelling to Australia on a business trip. | Business Secretary Sajid Javid is travelling to Australia on a business trip. |
| Tata has blamed fierce competition from cheap Chinese imports, regulatory costs and the strong pound for losses at its UK steel business. | Tata has blamed fierce competition from cheap Chinese imports, regulatory costs and the strong pound for losses at its UK steel business. |
| Other factors affecting the wider UK steel industry include relatively high energy prices and the extra cost of climate change policies, as well as competition from China. | Other factors affecting the wider UK steel industry include relatively high energy prices and the extra cost of climate change policies, as well as competition from China. |
| There have been allegations that Chinese steel is being "dumped" on world markets at prices that UK plants cannot hope to compete with. | There have been allegations that Chinese steel is being "dumped" on world markets at prices that UK plants cannot hope to compete with. |
| At the same time China's economy has remained sluggish, meaning that the demand for steel from its construction sector is now weaker. | At the same time China's economy has remained sluggish, meaning that the demand for steel from its construction sector is now weaker. |