London | Metals magnate Sanjeev Gupta’s Australian businesses are booking “record profits”, his GFG Alliance has said, in a front-foot statement that tries to kettle his local operations from the woes at Liberty Steel UK.
The British government has turned down GFG’s plea for a £170 million ($307 million) bailout for Liberty Steel UK, which is scrambling to deal with a coronavirus-related slump in demand and the collapse of its major funder Greensill.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
