In Victory for Trump, Japanese Company Blocked from Buying U.S. Steel
President Joe Biden has blocked the acquisition of the U.S. Steel Corporation by Japan's Nippon Steel. It was a victory for President-elect Donald Trump, who had vowed to take action himself if President Biden did not take over. On Friday, Biden announced He would use the Defense Production Act of 1950 to block Nippon Steel's […]
US Steel CEO rips Biden's 'shameful' move blocking sale
U.S. Steel's president and CEO said in a statement Friday afternoon that President Biden's decision to block the company's acquisition by Japanese company Nippon Steel is “shameful” and “corrupt.” he declared. “President Biden’s actions today are shameful and corrupt. He is harming the future of our company, our employees, and our national security while offering […]
Biden says he will block US Steel sale to Nippon Steel
President Biden announced Friday that he would block the sale of U.S. Steel to Japanese-owned Nippon Steel after a year of studying the potential deal. “To continue leading the fight on behalf of America's national interests, we need America's largest companies, which account for a major share of America's steel production capacity,” Biden said in […]
Stock Market Today: Dow, S&P 500, Nasdaq Up; U.S. Steel, Apple, Tesla, More Movers – Barron's
Buying on the spur of the moment will be the name of the game on Friday, as stock traders buy everything from energy stocks to financials to utilities. The S&P 500 rose 0.7%, with all sectors within the index gaining. The Dow rose 186 points, or 0.4%, and the Nasdaq rose 1%. Typically, as riskier […]
Labor groups cheer Biden dismissal of US Steel sale as businesses bristle
Labor groups applauded Friday as companies criticized the Biden administration's decision to block Japanese rival Nippon Steel's acquisition of steelmaker U.S. Steel, citing national security concerns. sent. Nippon Steel and U.S. Steel said they were “regretted” by the decision and said the administration had not presented evidence that the deal could harm national security. “Instead […]
Biden Vows To Block U.S. Steel Sale To Japan’s Nippon Steel
US President Joe Biden speaks during a ceremony in the East Room of the White House in Washington, DC, on January 2, 2025. (Photo by Chip Somodevilla/Getty Images) OAN Staff James Myers8:15am – Friday, January 3, 2025 President Joe Biden announced Friday that he would block the sale of U.S. Steel to Japanese-owned Nippon Steel […]
Brown hails Biden decision to block Japanese takeover of US Steel
Outgoing Sen. Sherrod Brown (D-Ohio) on Friday praised President Biden's decision to block Japan's Nippon Steel Corp.'s acquisition of U.S. Steel, a deal worth $14 billion. “This deal was done behind closed doors, with no workers at the table, and it represented a clear threat to America's national and economic security and ability to enforce […]
Biden to block US Steel sale to Japanese buyer: report
U.S. President Joe Biden is poised to formally block Nippon Steel's proposed $14.9 billion takeover of U.S. Steel, officials said Friday, dealing a perhaps fatal blow to the controversial merger plan. The Committee on Foreign Investment in the United States (CFIUS) spent months reviewing the deal, taking national security risks into account, but after failing […]
Can a steel town survive if its furnaces are turned off? – podcast | Wales
Tata Steel announced in January that it would end primary steel manufacturing at Port Talbot. The town is known for its two giant blast furnaces and a large steel mill that has provided employment for decades. George McDonagh went there to see people's reactions. He met Gareth Edwards, who had worked there for 30 years […]
Pompeo bucks Trump, calls for Nippon steel deal
Mike Pompeo, who served as Secretary of State in the first Trump administration, supported Nippon Steel's attempt to acquire U.S. Steel, a marked change in direction from President-elect Trump, who had vowed to block the acquisition. “Blocking this purchase would reduce our ability to maintain robust and competitive domestic steel production and undermine our national […]