FEARS FOR UK JOBS IN STEEL MERGER

LONDON: The government and biggest steel union in the UK have called on Tata Steel and Thyssenkrupp to commit to safeguarding British jobs, after the two companies announced their intention to merge their European steel operations.

Tata, the Indian conglomerate that operates the Port Talbot steelworks, and Germany’s Thyssenkrupp said yesterday they had struck a preliminary deal to create the continent’s secondlargest steel producer (after Arcelormittal), in a bid to tackle crippling oversupply in the market.

The tie-up could result in 4 000 job losses across the combined groups. – The Independent