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...Mercuria and O’Kane declined to comment. While at Macquarie O’Kane turned the Australian bank into an energy trading power house....
...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....
...Last year it accounted for almost 60 per cent of the company’s profits. O’Kane earned A$171mn between 2018 and 2023 as his division’s profit soared from A$1.6bn to a record A$6bn....
...“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....
...O’Kane, who was one of the highest-paid bankers in the world last year, has reached a preliminary agreement to join Mercuria in a senior leadership role to initially help the company grow its gas and power...
...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....
...Simon Wright, a 35-year company veteran, will replace him....
...Exhibit A: Nippon Steel’s $14.9bn takeover offer for US Steel....
...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....
...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....
...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...
...Marco Dunand, head of Swiss energy trader Mercuria Energy, has indicated that Nick O’Kane, the former star trader at Macquarie, will take on a senior job at the company to help its “overstretched” management...
...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....
...Macquarie also revealed that Nick O’Kane, who has run its commodities business that has generated extraordinary profits in the past two years, will leave the business after 30 years with the company....
...“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....
...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....
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