British Steel: Up to 500 jobs to go as unions strike deal with China's Jingye

Up to 500 job losses are expected at British Steel after a deal over pay and conditions for workers was struck with the Chinese buyer.

Unions, which point out "significant numbers" had recently left the business, said an agreement was reached following 10 days of "extremely challenging" negotiations with the industrial giant Jingye.

The firm is seeking to buy the business from government liquidators, after ministers promised to fund the loss-making company following its collapse last year.

It aims to complete the takeover in the next few months.

Most of the steelmaker's 4,000 UK employees are based at its main Scunthorpe plant.