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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....
...It also comes as regulators are calling for Japanese companies to address low valuations and improve governance....
...Community, the steel union, criticised Tata’s decision as a “bad deal for steel”....
...“It is important that we maintain strong American steel companies powered by American steel workers,” Biden said....
...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....
...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”....
...Ted Baker is on the brink of collapse unless it finds a new business partner, casting doubt over the future of hundreds of high street jobs at the UK fashion brand....
...Exhibit A: Nippon Steel’s $14.9bn takeover offer for US Steel....
...Demand is falling from all the sectors that have been the largest buyers of steel: property developers, carmakers and home appliance companies....
...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...
...company performs....
...Tomas Gutierrez, Asia editor at Kallanish Commodities, said following the meetings, known as the “Two Sessions”, Chinese steel companies began offering export contracts at significant discounts....
...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....
...And at the same solid-state factory tour, Nissan also showcased how it would employ gigacasting — a manufacturing technique pioneered by Tesla that uses casting machines to force molten metal into moulds...
...Beijing is developing nationwide rules to clarify which companies will be liable in the case of an accident....
...“[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....
...Production, The Good Company Represents...
...Skydance is offering to buy Redstone’s National Amusements, which controls 77 per cent of Paramount’s voting stock, and later merge with the two companies....
...“Nippon Steel’s ambitious acquisition of US Steel may act as a catalyst to encourage other Japanese companies to finally act on their long-term strategic plans to grow overseas,” said Lebrun....
...If Nippon Steel’s deal is approved, it will draw a mid-ranked American company under the umbrella of one of the world’s top three steelmakers, none of which is American....
...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....
...Nippon’s acquisition of US Steel would benefit the economy broadly and the working class specifically. The company intends to inject much-needed technology and capital into US Steel....
...In Thailand, the government has accused Chinese companies of evading anti-dumping duties, while industry groups have warned of big losses from cheaper steel in the market....
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