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...US Steel....
...The biggest attempt to date came in December, with Nippon Steel launching an $15bn all-cash bid for US Steel....
...Steel has none of the sensitivities of high-tech social media; US Steel is not a direct supplier to the military....
...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....
...Gupta pledged to file consolidated accounts for his steel business in 2019, but is yet to do so....
...Joe Biden has declared his opposition to Nippon Steel’s proposed $14.9bn purchase of US Steel, saying it was “vital” for the American steel company to remain “domestically owned and operated”....
...It comes after much of the country’s steel industry has consolidated, leaving Cleveland-Cliffs, Nucor, Steel Dynamics and US Steel as the four large players....
...Joe Biden plans to intervene in Nippon Steel’s proposed purchase of US Steel, a move that could threaten the deal and anger Japan, one of Washington’s closest allies....
...The economy of Pittsburgh, Pennsylvania, has grown far beyond its steel industry roots....
...Nippon Steel is not a member....
...In the US, for every job in steel production, there are around 14 jobs in industries that use steel intensively....
...Shares in US Steel closed down 2.4 per cent on Tuesday at $48.38, below Nippon Steel’s $55 per share offer price....
...However, at the level of consolidated earnings before interest, taxes, depreciation and amortisation, News UK contributed a profit to parent company, the US-listed News Corp, for 2023....
...On Monday, US Steel announced that it would sell itself to Nippon Steel of Japan at an enterprise value of $15bn....
...Joe Biden has thrown his support behind an investigation of Nippon Steel’s purchase of US Steel on national security grounds, despite Japan’s status as one of Washington’s closest allies....
...Capitalism reins in the sale of US Steel In August, Cleveland-Cliffs wrapped its unsolicited bid for US Steel in an American flag....
...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....
...JSW said it aimed to bring down the cost of MG’s EVs by supplying its own steel, in addition to batteries, and carrying out more research and development in India....
...Management warned of continuing challenges for its vegetarian and vegan business Dalco, as it pointed to “the structural market reset that has taken place in this sector” and confirmed it has consolidated...
...Khamenei controls the Islamic Revolutionary Guard Corps and has helped transform them into Iran’s most formidable institution....
...Environmental advocates argue that retrofitting old buildings should be the preferred option to make best use of emission-intensive materials such as glass, steel and concrete in existing structures....
...The decision could make it harder to reshape the industry — particularly for lower-cost carriers — which has consolidated rapidly over the past two decades, leaving it dominated by the four big carriers:...
And explaining the rising term premium
...Rupert Murdoch’s News Corp is also interested in buying the Spectator....
...This “monster steel trust”, put together by power brokers including John Pierpont Morgan, Andrew Carnegie and Charles Schwab, would make two-thirds of the nation’s steel, giving it enormous pricing power...
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