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...Discussions with the company continue.”...
...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....
...Companies: Abbott Laboratories and infrastructure company Kinder Morgan are scheduled to report first-quarter earnings. Five more top stories 1....
...“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....
...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....
...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....
...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....
...Exhibit A: Nippon Steel’s $14.9bn takeover offer for US Steel....
...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...
...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...
...“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...
...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....
...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....
...company performs....
...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...
...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....
...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....
...“[Cfius] can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” the senators wrote....
...“[Cfius] can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” wrote JD Vance of Ohio...
...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....
...Executives from India’s Tata Steel, including chief executive T V Narendran, have flown in for the talks with union leaders in London to discuss plans for the future of the company’s UK operations, which...
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