China's Jingye Steel Requests Compensation from UK for British Steel Takeover

China's Jingye Steel is requesting compensation from the UK government regarding the takeover and planned nationalisation of British Steel.

Jingye Steel seeks reimbursement from Britain for losses tied to its investment in British Steel, which came under UK operational control in April 2025.

In a WeChat statement, the company notes:

"Jingye has recently initiated consultation procedures under the bilateral investment treaty with the UK government."

The King's Speech last month outlined a Steel Industry (Nationalisation) Bill aimed at protecting domestic steel output.

Jingye acquired British Steel from receivership in 2020, yet in 2025 it planned to close the Scunthorpe steelworks, leading Starmer to intervene and assume control.

Jingye has since pursued recovery of hundreds of millions in loans extended to the firm, plus reimbursement for equipment upgrades at British Steel.

Key events

47m ago China's Jingye Steel requests compensation from UK for British Steel takeover
2h ago Ryanair criticises 'bogus' probe
2h ago Ryanair's family seating approach
2h ago Introduction: Ryanair's charges for seating parents with children under review

Jingye's statement further expresses hope that the UK government will protect the valid rights of Jingye and other Chinese firms along with international investors.

China's Jingye Steel Requests Compensation from UK for British Steel Takeover

China's Jingye Steel is requesting compensation from the UK government regarding the takeover and planned nationalisation of British Steel.

Jingye Steel seeks reimbursement from Britain for losses tied to its investment in British Steel, which came under UK operational control in April 2025.

In a WeChat statement, the company notes:

"Jingye has recently initiated consultation procedures under the bilateral investment treaty with the UK government."

The King's Speech last month outlined a Steel Industry (Nationalisation) Bill aimed at protecting domestic steel output.

Jingye acquired British Steel from receivership in 2020, yet in 2025 it planned to close the Scunthorpe steelworks, leading Starmer to intervene and assume control.

Jingye has since pursued recovery of hundreds of millions in loans extended to the firm, plus reimbursement for equipment upgrades at British Steel.

In other travel sector news, Heathrow recorded fewer passengers in May amid the Middle East situation affecting demand.

Heathrow's May passenger figures fell 1.2 percent compared to the prior year, with over 7.1 million travellers passing through. This includes a 1.9 percent decline in UK passenger numbers.

Ryanair Criticises 'Bogus' Investigation

Ryanair has replied to the CMA probe into its child and adult seating policy, labelling it 'false' and 'bogus'.

The carrier emphasises that it does not charge children to sit with parents and confirms compliance with regulations.

Here is the statement:

Ryanair's family seating policy fully complies with all relevant laws and regulations and saves families money when travelling on the UK's lowest fare airline.
Ryanair DOES NOT charge any fee for children to sit beside their parent or accompanying adult. Like all adults who select a reserved seat, adults travelling with children pay one reserved seat fee, but can select reserved seats beside them for up to 4 children on the same booking FREE OF CHARGE. This means that parents travelling with children pay for only one (adult) reserved seat but pay nothing for the 4 other reserved seats for their children travelling with them.
This bogus CMA investigation is a failed effort by the Starmer Govt to pretend it cares about consumers when it has failed to abolish APD which would immediately deliver lower fares for all consumers and growth for the UK aviation, tourism and wider economy.
Ryanair looks forward to disproving these false CMA claims during this bogus investigation.

Ryanair's Family Seat Policy

Ryanair's Family Seat Policy can be viewed online here.

It states that up to four under-12s in a group receive a reserved seat at no cost if accompanied by an adult who has purchased a reserved seat (around 8 pounds, per the CMA).

The policy states:

For safety reasons, children under the age of 12 must sit beside an accompanying adult, and infants (aged 8 days to 23 months inclusive) must sit on an accompanying adult's lap.
It is mandatory for an adult travelling with children under 12 (excl. infants) to reserve a seat. A maximum of four children for every one adult on the same booking will receive a reserved seat free of charge. This ensures parents of young children sit together during the flight. This will also allow you to check-in for your flight 60 days before departure. It is not mandatory for any other adults or teenagers in the booking to reserve a seat, however they may choose to do so if they wish to seat with the rest of the family.

Hayley Fletcher, the CMA's senior director of consumer protection, outlines the regulator's concerns with Ryanair's pricing:

Lots of families save up to afford a summer holiday and we know that extra charges can quickly bump up the price.
Our investigation will consider Ryanair's approach to family seat reservations and how the cost is presented to consumers to determine whether they comply with consumer law.
For the past year, we have told businesses to ensure their customers are shown the total price upfront - those who do not face the very real possibility of action from the CMA.

Introduction: Ryanair's Charges for Seating Parents with Children Under Review

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

Budget airline Ryanair faces a probe into charges that parents must pay to sit with their children on flights.

Britain's competition authority is examining whether Ryanair applies an unfair contract term under consumer law by requiring parents (or any adult) to pay 8 pounds for a reserved seat to ensure children sit alongside them.

The CMA states this morning:

Ryanair's terms and conditions require at least one parent to sit with their children aged 2-11 when they fly. This is done through what Ryanair calls a "mandatory family seat", which the parent must pay for in order to secure a seat next to them for their child.
For all other passengers, reserving a seat is optional. This fee applies to both outbound and return flights and typically costs around 8 pounds each way. CMA evidence suggests this approach to seating is used across the majority of Ryanair's UK routes.

The investigation will examine whether parents face unfair charges for Ryanair to fulfil its child safety and disability-related obligations under aviation rules.

The CMA indicates that Ryanair is the sole major UK-departing airline applying this charge; others seat children with a parent or guardian without requiring a paid adult seat reservation, or assign seats together automatically at no cost during booking.

The regulator will also review whether this represents 'drip' pricing, with additional charges appearing during the booking process.

The agenda

Noon BST: Turkey interest rate decision
1.15pm BST: European Central Bank interest rate decision
1.30pm BST: US weekly jobless claims
1.45pm BST: European Central Bank press conference