Nippon Steel spends whopping $1.3 million on lobbying amid merger threat
Japanese steelmaker Nippon Steel paid money to major lobbying firm $1.3 million In the summer, plans to buy U.S. Steel were in jeopardy. From July to September, Nippon Steel spent more money on federal lobbying than on federal lobbying combined. $1.1 million This is a sign of how seriously the company is taking threats from […]
British chestnut battles rocked by cheating scandal as 82-year-old found with steel chestnut
In what is sure to be the strangest cheating scandal of 2024, the venerable World Conquer Championship is thrown into chaos after a controversial 82-year-old man known as “King Conker” won the championship. However, the following was discovered afterwards. He has a steel chestnut in his pocket. David Jakins has competed in the World Conquer […]
US bans steel, artificial sweetener imports from Chinese companies over forced labor allegations
The Department of Homeland Security (DHS) announced Wednesday that it will no longer import steel and artificial sweeteners from two China-based companies due to allegations of forced labor. DHS lists Baowu Group Xinjiang Bayi Steel Co., Ltd. and Changzhou Guanghui Food Raw Materials Co., Ltd., which are accused of using forced labor to sell products […]
UK’s Final Coal Plant, Steel Furnace Close
Britain's last coal-fired power station and penultimate steelworks closed today. This is the result of the government's strong push for decarbonization, even at the expense of affordable energy and domestic steel production capacity, which is critical to the defense industry. Although they are hundreds of miles apart from each other, two of the last bastions […]
Nippon Steel’s acquisition of US Steel clears arbitration hurdle amid union opposition
American steelworkers spoke to FOX Business' Lydia Hu in suburban Pittsburgh, where U.S. Steel's headquarters may soon be turned over to Japan-based Nippon Steel. An arbitration panel ruled Wednesday that Nippon Steel Corp.'s proposed $14.9 billion takeover of U.S. Steel complies with the requirements of the company and its labor agreements. United Steelworkers (USW)This removed […]
Federal decision on Nippon-US Steel takeover to be pushed back
Nippon Steel Corp., Japan's largest steelmaker, is asking for its takeover bid for U.S. Steel to be resubmitted, a person familiar with the matter told The Hill, which would delay a decision on approving the deal until after the presidential election. The Committee on Foreign Investment in the United States (CFIUS), an interagency group that […]
Rubio leads call to reimpose Trump steel tariffs on Mexico
A bipartisan group of senators is urging President Biden to reinstate tariffs on Mexican steel to prevent China from gaining backdoor access to the U.S. market. In a letter led by Sen. Marco Rubio (R-Fla.), the lawmakers urge President Biden to impose a 25% tariff on all steel imports from Mexico after a 2019 deal […]
Steel Giant May Have To Bail On $500 Million Biden-Harris Admin Green Grant, CEO Says
The Biden-Harris administration awarded the major steelmaker $500 million in environmental protections in March, but the company may be forced to give up the money, its CEO told Politico. Department of Energy (DOE) Announced In March, it was announced that Cleveland-Cliffs had been selected to receive $500 million in funding to help make “green” low-carbon […]
Business groups warn Treasury of 'political interference’ in Nippon Steel review
Washington business groups warned in a letter on Wednesday that “political interference” could derail Japanese steelmaker Nippon Steel's proposed takeover of U.S. Steel, which is opposed by lawmakers across the political spectrum and across presidential candidates. “Unfortunately, there have been continued recent attempts from across the political spectrum to politicize the committee's work, allowing politics […]
GOP Reps. Young Kim, Michelle Steel prep for fight to defend seats in highly competitive SoCal districts
ORANGE, Calif. – Republican Reps. Young Kim and Michelle Steele are optimistic. It is a species that is in danger of extinction, but scientifically California RepublicanThe Orange County-based lawmakers are confident voters will elect them to Congress for a third term this fall. First elected in 2020, both districts have been hot targets of campaigning […]