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...US Steel....
...The American steel industry has become a political issue in the 2024 presidential election after Nippon Steel last year launched a $14.9bn takeover of US Steel, headquartered in Pittsburgh, a city in the...
...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....
...Last September, the government agreed a £500mn grant with Tata Steel to help it switch to greener forms of steelmaking....
...’s steel industry....
...Steel production in the UK has fallen from 24mn tonnes in 1971 to about 6mn tonnes today. The sector employs just under 40,000, according to trade body UK Steel....
...Bob Casey, the Democratic US senator from Pennsylvania who is also facing a tough bid for re-election in November, immediately welcomed Biden’s statement, saying he had “long held concerns that this sale...
...The writer is senior adviser, Sequoia Heritage Now that Sir Jim Ratcliffe’s purchase of a minority stake in Manchester United has been sanctioned by the Premier League, he will be unlike any previous owner...
...The plan includes a £7.3bn “national wealth fund” to support various industries, such as steel and automotives, as they transition to greener sources....
...Summer Lee, a Democratic member of Congress from Pennsylvania, where US Steel is based, has also opposed the acquisition, along with Democratic senators John Fetterman and Bob Casey, both from the state....
...Other American business leaders who have received the award include Disney chief executive Bob Iger and Bloomberg founder Michael Bloomberg....
...It mirrors a similar announcement last year by British Steel, which will close its last blast furnaces by 2025, leaving the UK as the only major economy without the ability to make primary steel using iron...
...Unions fear up to 2,000 jobs are at risk at British Steel. Tata Steel will invest about £750mn in its UK operations as part of the deal with the government....
...“The plans that British Steel has announced, combined with Tata Steel’s plans, would leave the UK unable to make steel from raw materials and dangerously exposed to international markets,” he added....
...Tata Steel is preparing to confirm that up to 3,000 steelworks jobs could be lost as part of a restructuring of its UK operations, in what would be a devastating blow to its Port Talbot plant in Wales....
...Rishi Sunak promised in September that a taxpayer subsidy of £500mn for Tata Steel would “safeguard thousands of jobs” at the totemic site in south Wales....
...She and Democratic senators John Fetterman and Bob Casey, both from the state, sent a letter on Tuesday to Nippon Steel’s president Eiji Hashimoto, complaining that the United Steelworkers union had not...
...,” said Gareth Stace, director-general of UK Steel....
...Britain’s steel industry is one of the most difficult and expensive to decarbonise. Tata Steel and British Steel are also facing rising costs and cheaper competition from countries such as China....
...invest in renewable power, a £6bn-a-year insulation programme for homes and a “sovereign wealth fund” to oversee the decarbonisation of British industries through measures such as extra funding for green steel...
...The Indian-owned company employs about 4,000 workers at Port Talbot, which uses two blast furnaces to turn iron ore and coal into molten iron and steel....
...The Araguaia nickel mine in Paras state in northern Brazil aimed to produce 29,000 tonnes of nickel per year for the stainless steel industry — a small project compared with the huge industrial complexes...
...Smith Jim Davidson...
...UK Steel....
...Tata Steel said it remained in discussions with the UK government over a “framework for continuity and decarbonisation of steel making in the UK”....
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