China’s Jingye Steel has begun seeking compensation from the UK government regarding the takeover and planned nationalisation of British Steel. The firm aims to recover losses from its investment after the UK took operational control in April 2025. In a WeChat statement, the company noted it has started consultation procedures under the bilateral investment treaty. The recent King’s Speech outlined a Steel Industry (Nationalisation) Bill to protect domestic steel output. Jingye acquired British Steel from receivership in 2020 but announced a closure of the Scunthorpe works in 2025, leading the government to intervene. The company has since pursued recovery of loans and upgrade costs. In other news, Heathrow Airport recorded a 1.2% drop in May passenger numbers to 7.1 million due to Middle East issues, including a 1.9% decline in UK travellers. Ryanair responded to a CMA probe into its family seating policy, stating it complies with laws, charges no fee for children to sit with parents, and offers up to four free reserved seats per adult booking. The airline called the investigation unfounded and linked it to broader policy failures. The CMA is examining whether the £8 seat reservation requirement for parents constitutes an unfair term under consumer rules.
