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  1. Wales

Welsh secretary 'determined' to find solution to Tata's complex pension issue

The Welsh Secretary says the Government is determined to find a solution to Tata's complex pension issue.

It came after Stephen Kinnock asked what measures had been taken to ensure a viable and sustainable pension scheme will be developed as a result of the sale of the business.

Alun Cairns said he's met with Business Secretary following his meetings with Tata in Mumbai to discuss the main issues surrounding the sale including the pensions, power and plant.

Excalibur Steel 'working alone' on Tata bid

Credit: PA

Excalibur Steel is "working alone and is not currently contemplating acting in conjunction with any third party" in its bid to buy Tata Steel's UK assets, ITV News has learned.

On Sunday it was reported that Liberty House and Excalibur Steel UK could be considering working together to buy the Tata Steel UK operation, before Excalibur's Chairman said this was "completely untrue".

The company has now said it will not be working with any other firm.

Excalibur Steel UK Ltd was created as an entity to manage the financing of an employee and management led buy-out of Tata Steel UK Ltd.

Recent media speculation has suggested that Excalibur is not pursuing this objective independently. This is incorrect.

Excalibur is working alone and is not currently contemplating acting in conjunction with any third party.



Steelworkers gather in Westminster for protest

Credit: Matthew Thom

Steelworkers have gathered in Westminster ahead of a march to highlight the crisis in their industry.

They are calling on the government to "ensure the responsible sale of Tata Steel's UK assets" and to deliver "a proper industrial strategy that supports the entire steel sector".

The march comes as a shortlist of bidders is drawn up for the UK assets of Tata Steel, including the Port Talbot plant in south Wales.

Tata's board meets in Mumbai on Wednesday to discuss the prospect of sale, which would save thousands of jobs.

Business Secretary Sajid Javid and Welsh First Minister Carwyn Jones have traveled to the India city for talks.

Credit: Matthew Thom
Credit: Matthew Thom
  1. Wales

Carwyn Jones in Mumbai ahead of steel talks

The First Minister of Wales has been seen leaving his hotel in Mumbai ahead of a meeting with Tata Steel bosses.

Carwyn Jones in Mumbai ahead of steel talks. Credit: ITV News

The steel giant is holding talks to draw up a shortlist of final bids at a meeting later today.

UK Business Secretary Sajid Javid MP is also in the country to hold the talks with company officials.

A march of hundreds of steelworkers and union representatives is taking place in Westminster calling for more action to be taken on the dumping of Chinese steel.

Welsh steelworkers join steel march in Westminster. Credit: ITV News

Port Talbot workers head to London to protest

Hundreds of steelworkers are heading to London to demonstrate and put pressure on the government to help secure the future of the steel industry.

Today is a crunch day for the workers as Tata's board is meeting to discuss the bids.

Business Secretary Sajid Javid and Welsh First Minister Carwyn Jones have travelled to India for the meeting.

ITV News' Rupert Evelyn reports:

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Wilkie: Port Talbot buyout could offer 'sustainable success'

Stuart Wilkie outside the Port Talbot plant. Credit: PA Wire

A senior manager at Port Talbot steelworks says his plan to stage a management buyout of the loss-making plant from Tata Steel could offer "sustainable future success".

Stuart Wilkie, the Managing Director of Tata's strip products, issued this statement:

It was clear from a lengthy discussion that there is confidence in the future of primary steel making in Port Talbot and across Wales.

We are now working with partners to fully develop proposals which we believe offer very real prospects of sustainable future success.

– Stuart Wilkie

Kinnock: Port Talbot plan has 'real potential'

Labour MP Stephen Kinnock says the proposed buyout of Port Talbot steelworks has "real potential", but needs the backing of investors and the government.

Cameron tells MPs the government will support Tata sale

David Cameron speaks at Prime Minister's Questions. Credit: Pool

David Cameron has said the Government is committed to supporting Tata steel during the sale process.

Speaking at Prime Minister's Questions, he said: "Right now we are talking with the board of Tata to make sure that all the questions they need answered are answered by us because we want to have a proper sales process with proper buyers coming forward."

"We want to be very clear that the Government is prepared to support that process and support the outcome and that's exactly what we will do," he added.

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