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...The UK government is struggling to seal a deal with British Steel to secure the future of the country’s second-largest steelworks 18 months after the Chinese-owned company asked ministers for a £500mn financial...
...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....
...When she released her acclaimed debut album Dark Energy in 2015, Jlin was working in a steel mill operating heavy machinery....
...Inventories at major Chinese steel mills jumped more than a quarter over the past few weeks....
...Employment at US iron and steel mills more than halved between 1990 and 2022, to just 83,200 jobs, according to the labour department....
...Italy’s industry association has called for subsidies to support the steel mill formerly known as Ilva....
...The company, whose brands also include Häagen-Dazs ice cream and Yoplait yoghurt, reported adjusted earnings per share in the three months to February 25 rose 20 cents from a year earlier to $1.17, beating...
...Community, the steel union, criticised Tata’s decision as a “bad deal for steel”....
...US President Joe Biden has come out against Nippon Steel’s proposed purchase of US Steel, saying it is “vital” for the “iconic American steel company” to remain “domestically owned and operated”....
...Joe Biden has declared his opposition to Nippon Steel’s proposed $14.9bn purchase of US Steel, saying it was “vital” for the American steel company to remain “domestically owned and operated”....
...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”....
...Without the two companies’ blast furnaces, the UK will be the only major economy unable to make steel from scratch....
...Nippon’s existing operations in the US are limited, but the combined company would be one of the 10 largest steelmakers in the world....
...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....
...Decarbonisation “creates an opportunity for us to work with our steel mill customers to tailor our products . . . including providing different and higher quality grades depending on the types of products...
...Chinese steel mills appear to be losing money when producing basic steel for construction. Both coking coal and iron ore are relatively expensive....
...Read more on the president’s push to raise prices on imported Chinese steel and what it could mean for the election....
...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...
...General Mills shares were down 2.5 per cent at the market open....
...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...
...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....
...Tabby Kinder looks at the options that lie ahead for the Chinese-owned tech company. 3....
...“Steel mills are running flat out, demand is strong and you see a pick-up in demand in copper and aluminium from the very massive development of renewable energy and electrical vehicles [in the country]....
...The call for intervention is the latest sign of problems at the businessman’s sprawling GFG Alliance, a loose collection of groups around the world that includes Liberty, the global steel and mining company...
...But its real battle will begin if and when the acquisition of US Steel is complete because the company will need to make even tougher decisions about jobs and plants in the future. kana.inagaki@ft.com...
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