The UK government has taken control of British Steel's plant in Scunthorpe, Lincolnshire, to prevent it from closing. Ministers say they have secured the raw materials needed to keep the plant's blast furnaces working in the "coming weeks", while they look for a long-term solution.

Britain took back control of the steelmaker from a Chinese firm. But don’t expect a massive rethink of the China-addicted U.K. economy.

Business secretary warns that – without action taken in parliament on Saturday – UK would have lost its ability to produce virgin steel