Clue - with half of pipe steel cast manage far seeing invention. Ans - hubble telescope. Can't see where hubble comes from. Half of pipe could give ub perhaps.
All I can think of is that HUBBLE was far-seeing. The second word is made up of an anagram of STEEL and PE (half of pipe)and CO (short for company or cast of a theatre. Hope that helps!
Just had another thought!
I agree that Hubble is half of a hubble-bubble pipe - better than my idea!
The second word is an anagram (cast) of STEEL, plus COPE (a synonym of manage).