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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....
...Discussions with the company continue.”...
...The comments from Nippon Steel’s top management came as the company announced its results for the full financial year ending in March 2024....
...“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....
...“We believe that any cash coming in from the stake sale at the parent company level could be injected into the steel business....
...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”....
...Community, the steel union, criticised Tata’s decision as a “bad deal for steel”....
...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....
...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....
...Companies: Abbott Laboratories and infrastructure company Kinder Morgan are scheduled to report first-quarter earnings. Five more top stories 1....
...Nippon Steel’s winning offer, which values US Steel’s equity at $14.1bn, follows a tradition of Japanese companies paying handsomely for overseas acquisitions....
...A €200mn impairment in its steel business, as a result of high interest rates hitting capital costs, prompted the company to abandon its previous forecast of a full-year net income “in the low to mid three-digit...
...The decision is expected to lead to up to 2,800 job losses across the company’s heavily lossmaking UK operation, which employs about 8,000 people....
...Large multinational companies are urging Joe Biden’s administration to keep politics out of any national security review of Nippon Steel’s purchase of US Steel after a bipartisan backlash to the deal in...
...Joe Biden is preparing to oppose Nippon Steel’s proposed $14.9bn purchase of US Steel, a move that is likely to upset one of Washington’s closest allies but delight key voters in the rustbelt....
...“There is a massive lack of transparency in this company....
...In taking on this mega-deal, BHP has signalled not only its determination to shift its portfolio decisively away from steel-making commodities such as iron ore — but also its belief that the era of the mining...
...company performs....
...The fight over the future of the century-old steelmaker comes after decades of decline at US Steel, once the world’s most valuable company....
...While harmonisation might be appealing as a first best, different approaches seem inevitable to measure emissions at the product, process or company level, whether for upstream buyers, tax authorities or...
...To try and get votes from workers in Pennsylvania, President Joe Biden recently opposed the Nippon Steel proposal for US Steel....
...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....
...Exhibit A: Nippon Steel’s $14.9bn takeover offer for US Steel....
...Joe Biden has thrown his support behind investigating Nippon Steel’s purchase of US Steel on national security grounds, despite Japan’s status as one of Washington’s closest allies....
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