Steel industry

Tata's electric arc furnace will benefit from reduced electricity costs, the UK government says.

Nippon agreed to give a "golden share" to the US government to win approval of the takeover.

The company will forge more than 337,000 tonnes of track in a deal safeguarding its future for the next five years.

Bosses say the number of applications show "a major vote of confidence in our business".

Trump doubles down on his tariffs, while sparing the UK from the latest duties.

The executive order raises import taxes for US firms buying from other countries - but the levy remains at 25% for the UK.

Tariffs are a key part of the US president's political vision but economists fear a global trade war.

The company says existing orders will be fulfilled before the closure of the site in spring 2026.