TATA STEEL'S UK CEO SAYS THAT THE FIRM "CANNOT CONTINUE TO BLEED" CASH AT PORT TALBOT

Tata Steel's UK boss warned this Thursday that the firm "cannot continue to bleed" cash at Port Talbot as he pressed the need for a quick sale.

Chief executive Bimlendra Jha told MPs no deadline had been fixed for a pull out, but underlined the company will not allow the South Wales site to survive indefinitely.

"There is no dead drop time that has been given, though you will appreciate with the kind of losses that there are, urgency is important," he told the Commons Business select committee.