All the updated news related to british steel

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Personal Finance

British Steel pension savers ‘left out of pocket by attempts to remedy losses’

Attempts to remedy financial losses suffered by British Steel pension savers have left many people not being fully compensated, according to a public spending watchdog. Some who transferred out of the British Steel Pension Scheme (BSPS) suffered ...

18 Mar 2022 at 01:25

Personal Finance

Watchdog sets out £71m plan to help British Steel pension savers

British Steel pension savers are to be compensated if they were poorly advised to switch their pension pots away from the company’s more lucrative defined benefits plans. The watchdog Financial Conduct Authority (FCA) has set out a plan which ...

31 Mar 2022 at 09:25

Personal Finance

£2.4m fine imposed by FCA after people advised to give up valuable pensions

A firm which advised people to give up valuable pensions has been fined nearly £2.4 million by the City regulator. Pembrokeshire Mortgage Centre Limited (PMC), trading as County Financial Consultants, gave unsuitable advice to consumers to ...

02 Dec 2022 at 12:20

Personal Finance

British Steel pensioners had a ‘gun to the head’ says former watchdog Bailey

The former boss of the City watchdog has said that British Steel pensioners had a gun to their head as they made one of the most complex financial decisions of their lives. Andrew Bailey, who now leads the Bank of England, told MPs that ...

14 Jun 2022 at 10:05

British Steel to offer other jobs to 250 staff hit by coke ovens closure

British Steel is to offer alternative jobs to around 250 workers affected by the closure of its Scunthorpe coke ovens. The company has said it will close the coke ovens as part of its drive to overcome global economic challenges and ...

05 Apr 2023 at 17:24

Government minister accused of avoiding engagement with steelworkers

A Government minister has been accused of “avoiding” engagement with workers during recent visits to steel plants. Industry minister Alan Mak travelled to four sites, including Port Talbot in South Wales, where jobs are set to be ...

10 Apr 2024 at 14:16

Union warning on closure of blast furnaces

The UK will be left “woefully underprepared” for any potential conflict if steel blast furnaces are allowed to close, the Government is being warned. The GMB has written to Defence Secretary Grant Shapps saying that losing the ...

25 Jan 2024 at 18:10

Government ‘negligence’ to blame for steel firm’s collapse, says union

Government negligence is to blame for the collapse of British steel business Aartee Bright Bar, a steelworkers’ union has claimed. Aartee Bright Bar, which says it is the UK’s largest distributor of engineering steel products,...

08 Feb 2023 at 13:41

Treasury close to £300m rescue deal for British Steel – reports

The Government is poised to funnel nearly a third of a billion pounds towards British Steel to save the struggling metal maker from collapse, according to reports. Sky News said that Chancellor Jeremy Hunt is prepared to ...

20 Jan 2023 at 14:21

Treasury ‘considering plans to inject £300m into struggling British Steel’

The Government is considering a plan to funnel nearly a third of a billion pounds towards British Steel to save the struggling metal maker from collapse. A Treasury source told the PA news agency that Chancellor Jeremy ...

20 Jan 2023 at 17:10

British Steel to cut up to 260 jobs as it closes coke ovens

British Steel is planning to close the coke ovens at one of its plants, with the loss of up to 260 jobs, the company announced. The Chinese-owned steelmaker said the move at its site in Scunthorpe was part of its ...

22 Feb 2023 at 13:10

Unions warn British Steel jobs at risk amid coking ovens closure fears

Unions fear British Steel is set to announce the closure of coking ovens at one of its plants, with the loss of hundreds of jobs as the company warns it faces “significant challenges”. Union officials were told ...

22 Feb 2023 at 02:45

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