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Government intervention 'buys time for British Steel'

Anna Turley is MP for Redcar and secretary of the steel all-parliamentary party group.

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Huawei shipments 'could fall by a quarter this year'

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China's Huawei, hit by crippling US sanctions, could see shipments decline by as much as a quarter this year, and faces the possibility that its smartphones will disappear from international markets, analysts have said.

Smartphone shipments at Huawei, the world's second-largest smartphone maker by volume, could fall between 4% and 24% in 2019 if the ban stays in place, according to Fubon Research and Strategy Analytics.

More on British Steel

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It would be a waste of money to keep British Steel alive.

That's the view of one writer to the Financial Times who says that the Scunthorpe works - the main part of the British Steel business - had been considered for closure twenty years ago. [That was when the old British Steel Corporation merged Dutch Hoogovens to create Corus.]

"When Tata Steel took over Corus in 2007 it soon knew Scunthorpe would be a problem," writes Jan van Veelen, whose address is Zug, Switzerland.

He says he was part of the team conducting due diligence for one of the "vultures" considering a takeover of Scunthorpe in 2015. "It was clear to our team that even with massive cash injections the steelworks was antiquated and would not survive without a drastic reorganisation," the letter says.

That is when Greybull Capital stepped in and the writer says he hopes that Greybull does not benefit in any way from money pumped in by Tata and the state.

There's more in the letter here.