UK says British Steel's Chinese owners demanding millions

The UK government is in a standoff with Chinese owners of British Steel who are demanding taxpayer money amounting to hundreds of millions for the steelworks in Scunthorpe. Negotiations for a new buyer have stalled as Jingye, the Chinese firm, seeks cash for the company transfer. Despite concerns about job losses, the government stopped short of nationalizing British Steel but is working to find a resolution with Jingye to secure the future of the site.