Is Margrethe Vestager, the EU competition commissioner, on a mission to undermine Google?
The UK blocked tougher EU trade rules to help the steel industry partly because it could have raised the price of shoes for British shoppers, Sajid Javid has said.
Sajid Javid has indicated that the government is ready to part-nationalise Tata Steel’s UK business in order to save thousands of jobs.
Tata Steel has agreed the sale of its UK long products business to investment group Greybull Capital for a “nominal” fee in a deal that will revive the British Steel brand and could save 4,400 jobs.
Sajid Javid will address MPs about the crisis in the steel industry as a deal securing thousands of jobs at Tata’s Scunthorpe plant is expected to be secured.
Sajid Javid has said that he has received assurances from Tata that it will allow time to find a saviour for its British steelmaking business, including the Port Talbot plant.
Sajid Javid flew to Mumbai on Tuesday night for talks with the Indian owner of Tata Steel in an attempt to win more time to secure the future of thousands of British jobs.
The business secretary, Sajid Javid, has said he wants Tata chairman, Cyrus Mistry, to agree a process for selling its UK steel business when they meet in Mumbai on Wednesday.
Tata Steel is close to a deal with the government to keep its UK business rather than sell it off, which would secure the future of 11,000 workers and the Port Talbot steelworks.
The timing of the steel crisis could hardly have been worse for China. Beijing is desperate to be granted market economy status within the World Trade Organisation but is running into stiff opposition from both the US and Europe.
Germany’s largest steelmaker ThyssenKrupp has cut its profit forecast as record Chinese exports have led to a global glut of steel and pushed prices lower.