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...The Horizon report says Nippon has been instrumental in helping the Chinese steel industry to develop, including through one joint venture involving Baosteel, the largest Chinese steel company....
...“It is important that we maintain strong American steel companies powered by American steel workers,” Biden said in a statement on Thursday....
...“It is important that we maintain strong American steel companies powered by American steel workers,” Biden said....
...Nippon Steel has agreed to buy US Steel in a $14.9bn deal, as the Japanese group targets the American market with its largest-ever acquisition....
...In raising concerns over the deal Biden did not refer to national security, speaking only of the need to maintain “strong American steel companies powered by American steel workers”....
...On Thursday, President Joe Biden threw cold water on Nippon Steel’s pending $15bn acquisition for US Steel, once a national icon. He said US-steel should remain American....
...Activist investor Cevian Capital has taken a €1.2bn stake in UBS, and Nippon Steel has agreed to buy US Steel in a $14.9bn deal....
...A person with knowledge of Nippon Steel’s thinking said the company does not plan to give up its bid for US Steel even if Biden publicly expresses opposition to the takeover....
...Companies such as Thyssenkrupp expect that it will eventually be cheaper to produce green steel....
...Biden has been particularly outspoken, joining picket lines as well as standing side by side with USW workers in Pittsburgh, declaring that US Steel should stay “American-owned, American-operated by American...
...Nippon offered $55 a share in cash for US Steel in December, months after the American company had rebuffed a lower offer from US-based Cleveland-Cliffs....
...Duncan Wanblad took the helm of Anglo American in mid-2022 just as the South African miner reached a record market capitalisation of more than £50bn....
...Companies: Abbott Laboratories and infrastructure company Kinder Morgan are scheduled to report first-quarter earnings. Five more top stories 1....
...The company intends to inject much-needed technology and capital into US Steel....
...Celsa also has its own recycling business that provides material to its steelmaking activities although the company purchases additional scrap from external suppliers....
...Biden on Wednesday visited US Steel’s headquarters in Pittsburgh, and in front of cameras, had a clear message: US Steel should remain “American-owned, American-operated by American union steelworkers —...
...Lael Brainard, Biden’s national economic adviser, said on Thursday that the president believed that “the purchase of this iconic American-owned company by a foreign entity — even one from a close ally —...
...Tata accepted one of the unions’ proposals, which was to keep open Port Talbot’s hot strip mill for processing imported semi-finished steel or slab, at least for a transition period....
...“It is important for us to get ahead of China’s new export surge and their continued pressure on prices that make it hard for American steel companies to compete,” said a senior US official, who added that...
...American jobs....
...If Nippon Steel’s deal is approved, it will draw a mid-ranked American company under the umbrella of one of the world’s top three steelmakers, none of which is American....
...US Steel shareholders will receive a takeover price more than double the company’s trading value prior to an auction launched this summer. However, closing the deal may prove tricky....
...Nippon Steel’s effort to take over US Steel is currently being blocked by the Biden administration....
...The T+1 shift is not just something for the “processing people” to fix....
...Lael Brainard, Biden’s national economic adviser, said on Thursday that the US president believed that “the purchase of this iconic American-owned company by a foreign entity — even one from a close ally...
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