By Leah Montebello The business secretary has reportedly opened formal talks with the owner of British Steel about a taxpayer bailout and job cuts. As first reported by Mark Kleinman for Sky News, Jacob Rees-Mogg wrote to parent firm Jingye Group last week and agreed that British Steel would maintain its current operations and 4000-strong work force during the ongoing discussions. It was reported earlier this month that the owners of Jingye had warned ministers that the company’s two blast furnaces were unlikely to be viable without state aid. One insider revealed that Jingye was prepared to m…