British Steel is planning to let go 2,000 employees amid a push by its Chinese owners to radically overhaul its operations and cut pollution. As many as 2,000 people could be let go as part of the turnaround plans, two people familiar with the company's thinking said, although no final decisions had yet been taken. The cost reductions are understood to be a critical part of plans to convert from blast furnaces to electric ark furnaces, which could unlock over £1bn in fresh funding from its owner, Jingye Group.
The Financial Mail on Sunday's Midas column recommended investors hold onto their shares in Empiric Student Property.
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