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...The biggest attempt to date came in December, with Nippon Steel launching an $15bn all-cash bid for US Steel....
...Additional reporting by Owen Walker...
US investment giant drew up plans to acquire part of Swiss bank
...In ISS’s report on the bank’s AGM, sent to shareholders on Friday and seen by the Financial Times, the proxy adviser recommends investors vote against the company’s new remuneration plan over concerns about...
...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”....
...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....
...Whether the acquisition is approved or blocked by US authorities for national security reasons, Nippon Steel’s current dilemma has significant implications for Japan Inc as companies pursue growth outside...
...Then came the tycoons — Rockefeller, Carnegie and the rest — who built huge empires in industries such as steel and oil with the help of well-trained engineers and managers....
...In today’s newsletter: Two big wins for antitrust enforcers The Japanese company buying US Steel The plan to rescue Farfetch Regulators even out the antitrust score Global regulators had been on a losing...
...Credit Suisse, which was rescued by UBS earlier this year, is continuing to pursue the case against SoftBank on behalf of investors despite the Japanese company being a big client....
...“It’s fair to say that, coming up on four years, fixing the Max has not been achieved,” Owens said. “The root cause is some kind of corner-cutting or process lapses that seem to be persistent....
...Policy risks in other sectors are rising too, from Joe Biden as well as Trump; just look at US Steel....
...Sekisui is the latest in the wave of Japanese companies prowling for cross-border transactions. Nippon Steel snapped up US Steel for $14.9bn last month....
...The STDC had been joined in its action by Teesworks Ltd, the public-private joint venture set up to develop the steel site....
...Arthur makes a distinction between classic production industries, for steel and the like, and knowledge-based industries....
...If you add in Biden’s opposition to Nippon Steel’s takeover of US Steel, it seems there is a lot of protectionism around in Washington nowadays masquerading as something else....
...Here’s what else I’m keeping tabs on today: US Steel takeover: Shares in US Steel rose in pre-market trading after it agreed to be bought by Nippon Steel of Japan for $14.9bn an an all-cash deal or $55...
...The Texas plant has a production goal of 250,000 Cybertrucks a year, although the company does not expect to meet that objective until at least 2025....
...that the combined company would be the only American steel company among the world’s top 10 producers....
...Bronwyn Owen, the group’s head of investor relations, is relocating from New York to run the office....
...Embattled metals magnate Sanjeev Gupta’s Liberty Steel was also given surplus emissions allowances for a steel mill in Wales that was idled this year....
...A federal jury awarded Owen Diaz, who is black, nearly $3.2mn in damages in April in a lawsuit over the racial abuse he said he experienced while working as an elevator operator at the Fremont factory in...
...Its smart EV business will be sold for HK$5.84bn ($744mn), the two companies said on Monday....
...The ship, which was carrying steel products, reported no serious damage....
...BofA’s Jadrosich pointed to risks such as a recent increase in the price of insulation from supplier Owens Corning, which cited strong demand....
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