If the steelworks remain shut, hundreds of thousands of people may lose their jobs, and the resulting waves of migration will reach far beyond Ukraine, Zinchenko warned. “A humanitarian catastrophe is looming.” The end of steelmaking in Ukraine would also have severe consequences for its defence capabilities and reconstruction. Steel is vital for producing military…
The nationalisation came after Parliament on Wednesday passed legislation allowing the government to bring the steel industry into public ownership under circumstances where it met a public interest test. Jingye is seeking compensation, having previously said the business was losing £700,000 a day. The BBC has been unable to get a response from Jingye itself…
The European Union’s plan to hike tariffs on steel imported over and above its annual threshold could tip the United Kingdom’s steel industry into its worst crisis in history, industry leaders have warned. On Tuesday, the European Commission proposed that the 27-member bloc would slash its tariff-free steel import quota by 47 percent to 18.3…
The BMW brand logo can be seen on the BMW four-cylinder (also known as the BMW tower and BMW high-rise), the main administration building and landmark of the vehicle manufacturer BMW. Picture Alliance | Picture Alliance | Getty Images Shares of Europe’s biggest carmakers traded lower on Wednesday, amid concern that the European Union’s latest…
