business and finance

British Steel insolvency: 5000 jobs at risk and other stories

British Steel workers. Source: British Steel

British Steel insolvency endangers 5,000 jobs

British Steel has been placed in compulsory liquidation endangering thousands of jobs.

The insolvency is the result of a breakdown in rescue talks between the company’s owner, Greybull and the government.

The search for a buyer for British Steel has already begun.

In the meantime, it will trade normally.

 

UN representative reports on Poverty in UK

Last November, special UN rapporteur on extreme poverty Philip Alston  spent almost two weeks travelling in Britain and Northern Ireland to study extreme poverty in the UK.

Professor Altson maintained that the ‘ideological’ cuts to public services since 2010 have led to ‘tragic consequences’.

He says the UK social safety net has been ‘deliberately removed and replaced with a harsh and uncaring ethos’.

The British government responded stating that the final report was ‘barely believable’ considering the £95bn spent on welfare and the maintenance of state pensions.

Kenneth Noye to be released from jail

The parole board has confirmed that the M25 road-rage killer is to be freed.

In 1996, Noye, 71, stabbed 21-year-old Stephen Cameron to death at the Swanley interchange of the M25.

The aggressor later claimed he committed the murder in self-defence during a road-rage fight.

In 2000, he was sentenced to life with a minimum term of 16 years.

He has been deemed by the parole baord as no longer harmful to the public.

Footwear firms urge Trump to end trade war

According to the shoe manufacturers the US-China trade tariffs could have a catastrophic effect on cosumers.

Dozens of companies, including Adidas and Nike, have signed a letter addresed to the American President.

They maintain that the import tariffs could specifically affect the working class.

President Trump has declared that the trade deficit with China hurts the US economy.

He has recently increased levies on $200bn (£157.3bn) worth of Chinese imports into the US from 10% to 25% more than a week ago.

 

 

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