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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....
...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”....
...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....
...Many facilities at Gupta’s European steel plants have been idle for weeks because of financial problems with no clear prospect of a restart to production as supplier bills go unpaid and raw materials run...
...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....
...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....
...Energy start-up Newcleo is doing everything you would expect of a growing company....
...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...
...Now, with the prospect of a large Japanese company taking over an American rival, the implicit fear is that the Japanese company will somehow enforce a more pitiless standard of shareholder-first capitalism...
...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....
...“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....
...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...
...The company said about 2,800 jobs would be cut across its heavily lossmaking UK operation as part of a four-year transition to green steel, with the bulk of the redundancies at Port Talbot....
...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....
...However, the company warned that it “does not believe that any of these options are likely to recover any value for the company’s shareholders”....
...Calenda said he was pessimistic about the factory’s prospects following the breakdown of relations with ArcelorMittal. “My outlook on Ilva is very bleak....
...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....
...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....
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