Chinese company demands compensation from the UK over British Steel nationalisation

The Chinese company that formerly owned British Steel demanded on Sunday compensation from the UK government for investment losses following the nationalisation of the manufacturer last week. The British government took operational control of the company last year after Jingye Group said it was considering closing the blast furnaces at its Scunthorpe plant in northern England, the last in the United Kingdom to make “virgin steel” from raw materials. Jingye Group said in a WeChat statement…