UK Plans to Nationalise Speciality Steel UK to Protect Jobs

Britain plans to bring Speciality Steel UK into public ownership to protect 1,300 jobs, Business Secretary Jonathan Reynolds said. The firm, formerly owned by Sanjeev Gupta, is in administration — a legal process for insolvent companies — and idle for a year. Taxpayers pay £3.5m monthly in wages. How to restart and resell it remains undecided.