things look very different 9 months ago back then to some group and indian rival tata steel wanted to merge and create europe's 2nd biggest steel company but recently just encrypts new boss kito cara cove played down the importance of a make a deal that had been years in the making he said it wouldn't destroy the company if it didn't happen. to us all for shares in the german steel company i've lost half their value since the beginning of $28.00 team management flip flopping during the fusion process didn't play well with nervous investors now it's finally the marriage is off the table. and we decided on a new strategy for to some crib the reason for this was that today we received news from brussels that the steel joint venture probably won't be approved it the s. and bass company which manufactures elevators steel machinery and industrial equipment was also going to be split into 2 divisions but that's been cancelled as well on cost grounds that's how investors have always taken a critical view they knew they would have to pay a 1000000000 euros in taxes to split the company it's al

promising to give back the fat german steel make up to send cold calls off the wedding to india's tata steel shaz leave almost twenty percent when it says if one piece. it will kill off six thousand jobs . is his business a. welcome the trumpet ministration has today raised duties on two hundred billion dollars worth of chinese imports from ten to twenty five percent says it will retaliate meanwhile trade delegations of both countries are in talks in washington that are being described as tense. the chance of breakdown of the talks has significantly increased now will bring in our correspondent in washington for the latest and have a look at how markets are taking it but first this report. it would prove to be an uphill climb for the chinese negotiators as talks resumed in washington just hours before new u.s. tariffs went into effect china's vice premier rejected the u.s. is russian oil for the new duties its accusations.

steel giant, thyssenkrupp, is blocked. thyssenkrup said today that it expected the european commisstion to put a halt to their plan to combine their businesses. the news agency reuters reports that tatainess news. the scottish government is debating the idea of a universal basic income. everybody, regardless of wealth, would get a lump sum of about £2,400 a year. it's argued that this would eliminate the stigma of poverty. it's already been tried in canada. the bbc‘s james cook has been to ontario to learn more. jodie's daughter has special needs. she spends a small fortune on hospital parking. her husband is off work with an injury and she says basic income changed her family's lie. ——life. it made a huge impact on our lives. when my husband went off on sick leave, it was a life changer. it kept the bills paid, it kept groceries coming. without it, i don't know how we would have survived. what would you say to a critic of basic income who would say, i'm paying my taxes, why should i give you what they regard as money for nothing? helping somebody out of poverty isn't a hand—out. because you can give back when you are healthy. you can't give back when you are not. try and find a job

change of plans and after the company also disclosed that they expected proposed joint venture with tata steel of india to be effectively blocked by the european commission company management says the commission's conditions on that proposed deal which may remedy antitrust concerns would be deal breakers meanwhile the stock balance only restored about half of the losses in peace and crops price since the plans to split were 1st announced. and that's it for this time you can catch boom bust on direct t.v. channel 321 dish network channel 2 a b. or streaming 247 on pluto t.v. their free t.v. channel 132 as always has. been must see you next time. this is a pretty this sort of. schedule it's good friday. the minute that it was and i go to the. idea that all you want to go to the bring it on that and. that. was pretty good way to. kind of what you still do which. go ahead i'm going to be done long ago but i think the. mere idea. is you're going to go did you go through the storm in the lead here so my look go from moods or bears are doing the fluids you're coconspirators some are going to be . one

change of plans and after the company also disclosed that they expected proposed joint venture with tata steel of india to be effectively blocked by the european commission company management says the commission's conditions on that proposed deal which may remedy antitrust concerns would be deal breakers meanwhile the stock balance only restored about half of the losses in peace and crops price since the plans to split were 1st announced. and that's it for this time you can catch boom bust on direct t.v. channel 321 dish network channel 2 a b. or streaming 247 on pluto t.v. their free t.v. channel 132 are as always has. been must see you next time. during the great depression which are old enough to remember that it was most of the family were working. there wasn't it was bad you know much worse objectively day but there was an expectation that things were going to get better. there was a real sense of hopefulness there isn't today today's america where shape by the turn principles of concentration of wealth and power. reduced democracy a tax on no doubt engineer elections manufacture consent

the hands of a private equity firm having been bought for just a pound from the indian company tata steel and looking for these loans from the government the business secretary greg greg clarke saying that his advice from lawyers was that the government couldn't give this sort of a loan on a commercial basis to british steel and therefore this time has to decline it's appalling news of course for the $5000.00 workers plus $20000.00 in the wider supply chain blamed all of this on briggs it by the unions by the workers themselves uncertainty about the future here about the possibility of a no deal breaks it would see 20 percent tariffs slapped on british exports of steel to its biggest market in the european union and of course overall it's an awful look for the conservative party government here on the eve of the european parliamentary elections on thursday but nobody wanted to be fighting in the 1st place in that government and which the government looks to do looks likely to do appallingly in with this is an area scunthorpe in the north of england that voted overwhelmingly for breaks it

tata steel says any failure from the u.s. to strike a deal threatens their demand on metal and reduces manufacturing on the mainland. tata warns steel orders will slump i there iss -- if there is no agreement in washington this week. a $1 beijing has signed billion deal to build a natural gas plants in iraq. china petroleum engineering and construction will carry out the work, which will take 2.5 years to complete and be able to refine 2 million standard cubic feet of gas every day. iraq will use the plans to reduce its reliance on gas from iran. shery: as uber prepares for its giant ipo this week, no one has more at stake than softbank. let's look at this with our bloomberg tech reporter. softbank is uber's largest shareholder, but at the same time has a bet of $18 billion on the sector with three similar startups. how big of a deal is this for softbank? >> it is a huge deal for softbank. in the more immediate term, when softbank was investing uber just a year ago, there were a lot of doctors -- of doubters on the valuation.

supervisor of need to home tata steel makers.of the morning to myth shinto gods the sun all descended upon the mountains here and slew an eight forked serpent would form a sacred sword and heard from its body. the title steelmaking has more than a thousand years of history and tradition. in the fire is a sacred flame of the more fundamental transforming iron sand and charcoal into quality jewel steel. the development of steel making contributed greatly to the prosperity of japanese culture and civilization. and we are here trying to preserve it and pass it on for eternity. we work for three days and nights of the tending closely as though raising a child for giving it love. we're prepared to do what it takes to produce magnificent steel. are for you have to do or the heat when working at it is very hot and dusty. it requires physical strength but also mental toughness to work consecutive days and nights. wolf we work as a team leader for the following specific methods for the charcoal cannot be fed randomly it won't burn well. ov

supervisor of need to home tata steel makers. of the morning to myth shinto gods the sun all descended upon the mountains here and slew an eight forked serpent from a sacred sword laid out heard from its body. the title steelmaking has more than a thousand years of history and tradition. in the fire is a sacred flame of the little bundle transforming iron sand and charcoal into quality jewel steel. the development of steel making contributed greatly to the prosperity of japanese culture and civilization. and we are here trying to preserve it and pass it on for eternity. we work for three days and nights. tending closely as though raising a child for giving it love. we're prepared to do what it takes to produce magnificent steel. our for you have to do or the heat when working at it is very hot and dusty. it requires physical strength but also mental toughness to work consecutive days and nights for. the if we work as a team for the following specific methods. the charcoal cannot be fed randomly it won't burn well. over strength o

they bought it three years ago after tata steel, the previous owner, said, "look, we cannot make a gowant to buy it?" greybull were the only buyer, they paid a nominal sum for it, perhaps a pound, we don't really know exactly what the amount was. a lot of people have been pretty iffy about its future since then. greybull has said that a lot of this is brexit—related, because their export customers, particularly on the continent, do not know what the trade arrangement is going to be post—brexit, so they have not been renewing orders. other people, though, have said that this is a company that faces a lot of headwinds, britain is a difficult place to make steel, an expensive place to make steel, and world steel prices have gone down by 20% in the last year. either way, it's going to be a very anxious day for those workers in scu nthorpe. the headlines on bbc news... one of the best—known figures in motor racing, niki lauda, has died at the age of 70 — his family said the three—time formula 1 world champion "passed away peacefully". theresa may will give cabinet ministers the details of

in 2016, a private equity firm bought it from tata steel forjust £1. , british steel, appealed to the government for an emergency loan. today, the business secretary said that would've been illegal, but explained what support they will be offering. during the days and weeks ahead, i will work with the official receiver, the special managers and with the british steel support group of trade unions, management, suppliers, customers and the local communities to pursuit remorselessly every possible step to secure the future of these valuable operations. mr speaker, this is a very worrying time for everyone associated with british steel. each one of british steel's sites has a proud record of steel— making excellence, and i'm determined to see it continue. there will now be attempts to find a buyer, and staff will still be paid. but in a region proud of its steel—making heritage, the future of this plant is about more than just money. sarah walton, bbc news. joining us now from scunthorpe is alasdair mcdiarmid from the steelworkers' trade union community. go

its current owners bought it about three years ago after tata steel, the previous owners, said we willbeen pretty iffy about its future. its current owners had lots of it is brexit related, export companies do not know what the trade relation would be. other people said the company would be. other people said the com pa ny faces would be. other people said the company faces a lot of head wounds, britain is a difficult and expensive place to make steel here. it will be very anxious in scunthorpe, it is not entirely coincidental that the european elections on thursday. not entirely coincidental that the european elections on thursdaym the government thinking it is too big to be allowed to fail? the timing is not great for the government and ministers are pretty annoyed. the request came ten days before the elections. perhaps too big to fail, but the government does not want to set a precedent where it bails out every company that cries brexit related trading difficulties, that would be a horrible precedent to set. so the government is very wa ry to set. so the government is very wary of

one of the things we are doing with swansea and warwick universities and tata steel is putting a carbonee energy for lack of a better word that comes from the process to make feel. we are taking the carbon dioxide and converting it into fuel which we can then use for transportation. the government has gone for electric vehicles as the main strategy but where does the electricity come from? at the moment you have vehicle seeing they are a zero emissions but thatjust means the emissions have been made to a power station and it is still fossil flu. if we can ensure electric vehicles run on completely renewable energy that is absolutely fine but in the meantime we have to look at technologies triggers existing engines with cleaner fuels so one of the things we are doing is making clea n the things we are doing is making clean diesel replacement. it is not synthetic diesel, it is something different that is environmentally friendly. stopping more carbon entering the supply chain from fossil fuels. it is a entering the supply chain from fossilfuels. it is a different approach, avoiding carbon

washington thank you both very much thank you the planned merger of german steel giants tizen culp and indian competitor tata has fallen through to cope has withdrawn from the deal because it expects the european commission to block its block it over competition concerns as a result just culp said it will be cutting six thousand jobs worldwide plan was to merge his and forbes deal unit with talk to us to create europe's second largest in the producer after oslo mittal the agreement was a fifty fifty joint venture producing annual synergies of up to six hundred million euros for both companies to cope and said they had expected to have generated pro-forma sales of fifteen billion euros. let's go to a financial correspondent in frankfurt called out that if that deal falls through appears to have fallen through what does that mean for doesn't do the have to look elsewhere for someone to marry. you know if it were so easy it would be great the problem is that there is no one really out there to be married the steel business is a business with extremely high over capacities steel prices have slumped significantly

tata. potential markets for the steel, how has that changed in the last three years? three years? unfortunately it is working against the scunthorpe unfortunately it is working against the scu nthorpe plant. unfortunately it is working against the scunthorpe plant. world prices are being suppressed because of us ta riffs are being suppressed because of us tariffs on china. world steel prices down about 20% and a lot of chinese imports are coming to europe. the scunthorpe imports are coming to europe. the scu nthorpe plant has imports are coming to europe. the scunthorpe plant has always been marginal, certainly in the last ten or 15 years. tata couldn't make a go of it. and energy costs in the uk are quite high, and input costs on iron orand are quite high, and input costs on iron or and coke are also high. it's facing a really difficult sale and a really difficult quest to find a new buyer. but having said that, these businesses are very cyclical. if world oil prices recover then it could be a very profitable plant but it's a big ask. you keep a close eye on that sto

in 2016 it was bought from tata steel for £1. british steel appealed to the government for an emergency loan. today the prime minister was asked why that wasn't provided. it's clear that it would be unlawful to provide a guarantee or loan on the terms requested. we will be working with the company and the official receiver in the days and weeks ahead to ensure we can pursue every step to secure the future of the operations at scunthorpe, skinningrove and teesside. the chancellor has also agreed an indemnity for the official receiver to enable british steel to continue to operate in the immediate future. there will now be attempts to find a buyer and staff will still be paid. in a region proud of its steel—making heritage, the future of the plant is about more than just money. well, we're joined now by marcel goldenberg, the markets and methodology development manager at s&p global platts, an independent information provider for prices and analytics for the energy and commodities markets. thank you forjoining us, i think a lot of p