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  1. ITV Report

Teesside workers respond to the rescue of British Steel

The buyout was worth a reported £70 million Credit: PA

British Steel has been rescued by the Chinese Jingye Group, potentially saving 700 jobs on Teesside.

Steelworkers at British Steel's Lackenby and Skinningrove sites welcomed the news, which could also safeguard thousands of North East jobs in the supply chain.

According to reports, the company is planning to invest around a billion pounds over the next decade.

Watch @KrisJepson's report here: