LONDON (Reuters Breakingviews) - Concise insights on global finance in the Covid-19 era. ------------------------------------------------- IRON LADY. Thyssenkrupp’s steel unit has chosen the perfect moment to get back into the black. Thanks to renewed demand from Europe’s carmakers, the ailing German industrial giant’s core division reported 20 million euros of adjusted operating profit for the final three months of 2020, and could almost break even in the financial year ending in September. In Thyssenkrupp terms, that’s epic. In the last two years, operating losses totalled 1.8 billion euros. Thyssenkrupp shares jumped 8%. Liberty Steel boss Sanjeev Gupta is unlikely to be cheering. His October bid for the unit, at an undisclosed price, may now need an overhaul. Failing that, Chief Executive Martina Merz has more to work with in terms of an internal turnaround. Hence her announcement of hefty steel investments. Yet the revival has a catch: Any long-term refit will entail job losses for the unit’s 27,000 workers. Merz will have to ensure her steel case is ironclad. (By Ed Cropley)