Swiss Steel Aid Draws Closer in Departure From Hands-Off Policy [Yahoo! Finance]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Yahoo! Finance
Most Read from Bloomberg Hong Kong's Expat Party Hub Reshaped by Chinese Influx How California Sees the World, and Itself City Hall Is Hiring London's Tube Fares Are Set to Rise by 4.6% Next Year American Institute of Architects CEO Resigns The sector is under increasing pressure as a slump in European manufacturing erodes demand from key customers, putting thousands of jobs at risk. Lawmakers in the upper house on Monday voted in favor of cutting a levy steel firms pay to fund the country's electricity networks. The government, and its economic advisory agency, had opposed any intervention, arguing that authorities shouldn't decide who gets to be industrial winners or losers. The controversy mounted after Swiss Steel Group, the country's largest producer, said it would cut hundreds of jobs. Stahl Gerlafingen, owned by Italy's AFV Acciaierie Beltrame SpA, had announced earlier in the year that it was closing a production line. It then paused the move after the prosp
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