Level up your business today with Odoo by clicking this link: https://www.odoo.com/r/YQW
The British government is closing in on a bailout of the Chinese owned British Steel in which taxpayers would inject £600 million pounds into the group.
British Steel is one of only two manufacturers of “virgin steel” in the UK alongside Tata Steel at Port Talbot in Wales which some industry experts claim is strategically important. Tata is in more advanced talks of its own with the government over a similar bailout.
The British government wants the steel mills to switch from using blast furnaces to more environmentally friendly electric arc furnaces at a cost of £1.25 billion to help achieve Britain’s net zero goals.
Unions warn that even if the deal is approved, 2,300 jobs would be lost, because EAF is far less labour-intensive than traditional production methods.
Patrick’s Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC
Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle
Ed Conway Blog:
https://edconway.substack.com/p/does-it-really-matter-if-we-cant
Material World by Ed Conway: https://amzn.to/3z3LORc
Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle
Business Inquiries ➡️ sponsors@onfinance.org
Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve
Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join
