About: http://data.cimple.eu/news-article/457a47e83697b48ef4cb9a3d4d12714f07244c654c7273945426823c     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • British steelmaker Liberty Steel's UK facilities have a "viable future", the government insisted Tuesday, one day after struggling parent group GFG Alliance put some of them up for sale. Liberty had launched a major restructuring on Monday to sell part of its assets following the collapse of insolvent financier Greensill. GFG, owned by Indian-British billionaire Sanjeev Gupta, wants to sell Liberty's plant in Stocksbridge, northern England, and other facilities which together employ 1,500 staff. "The issue that Liberty had was to do with financial engineering, the opaque bit, if you like, of GFG, the leverage, the finance, the debt they had incurred," Business Secretary Kwasi Kwarteng told a parliamentary committee investigating the company's plight. "Without that, I think there is a healthy interest in the assets and I think they have a viable future," he added. The Greensill affair shone a light on Gupta's business practices, with the UK government describing the GFG structure as "very opaque" after declining to rescue it earlier this year. Kwarteng stressed Tuesday that all options were on the table for Liberty's steel plants -- but nationalisation was the least likely for the government. "I don't rule anything in or out, but I think that nationalisation -- of all the options -- is the least likely." Greensill's dramatic demise sparked fears for the future of GFG's 35,000 staff worldwide -- which includes 5,000 at Liberty Steel in Britain. GFG had been Greensill's biggest customer at the time of the finance giant's high-profile collapse in March. ved-rfj/bcp/tgb
schema:headline
  • Liberty Steel's UK plants have 'viable future': govt
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
http://data.cimple...tology#hasEmotion
Faceted Search & Find service v1.16.115 as of Oct 09 2023


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 3 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software