Government brings British Steel under public ownership; UK economy grows 0.1% in May – business live

The UK government has taken British Steel under public ownership, signaling a move to stabilize the struggling industry amidst concerns about its future. While the overall economy showed a modest 0.1% growth in May, the quarterly growth was more robust, driven by strong performance in the services sector, particularly in computer programming, advertising, and pharmaceuticals. This shift in steel ownership and the economic data highlight the government's efforts to address both immediate industrial challenges and broader economic stability.