Tag #Steel Industry

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cnn.com

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Jan 3, 16:08

Biden Blocks Nippon Steel's US Steel Acquisition

President Joe Biden blocked a $14.3 billion acquisition of US Steel by Japan's Nippon Steel on Friday, citing national security concerns, despite the deal's potential to provide US Steel with crucial investments; the move has sparked debate about the balance between national security and economic in...

Biden Blocks Nippon Steel's US Steel Acquisition

President Joe Biden blocked a $14.3 billion acquisition of US Steel by Japan's Nippon Steel on Friday, citing national security concerns, despite the deal's potential to provide US Steel with crucial investments; the move has sparked debate about the balance between national security and economic in...

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What are the long-term implications of this decision for the competitiveness of the US steel industry and its workers?

The long-term consequences of this decision remain uncertain. While it might temporarily bolster domestic support, it could deter future foreign investment in US companies, hindering economic growth and innovation. The viability of US Steel, without the promised Nippon investment, raises concerns about the future of the American steel industry and its workforce.

cnn.com

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Dec 24, 04:06

Biden to Decide Fate of Nippon Steel's US Steel Acquisition

President Biden will decide the fate of Nippon Steel's proposed acquisition of US Steel after a government committee failed to reach consensus on national security implications; the deal faces opposition from the president, and US Steel's stock fell 3% following the news.

Biden to Decide Fate of Nippon Steel's US Steel Acquisition

President Biden will decide the fate of Nippon Steel's proposed acquisition of US Steel after a government committee failed to reach consensus on national security implications; the deal faces opposition from the president, and US Steel's stock fell 3% following the news.

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How did political opposition from various parties influence the CFIUS review process?

This deadlock highlights the tension between economic concerns and national security interests. While US Steel argues the deal is crucial for its survival and includes significant investment pledges from Nippon Steel, President Biden and others prioritize maintaining domestic steel production and employment. Political opposition from both sides of the aisle further complicated the CFIUS review.

apnews.com

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Dec 24, 07:10

Biden to Decide Fate of Nippon Steel's U.S. Steel Acquisition

President Joe Biden will decide within 15 days whether to block a nearly $15 billion deal for Nippon Steel of Japan to purchase U.S. Steel, after a government panel failed to reach consensus on national security risks; the United Steelworkers union opposes the deal, while Nippon Steel promises signi...

Biden to Decide Fate of Nippon Steel's U.S. Steel Acquisition

President Joe Biden will decide within 15 days whether to block a nearly $15 billion deal for Nippon Steel of Japan to purchase U.S. Steel, after a government panel failed to reach consensus on national security risks; the United Steelworkers union opposes the deal, while Nippon Steel promises signi...

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What are the potential long-term implications of this decision for the American steel industry, national security, and future foreign investment reviews?

The outcome will significantly impact the future of the American steel industry, influencing domestic production, job security, and technological advancements. President Biden's decision will set a precedent for future foreign investment reviews, potentially impacting similar mergers and acquisitions in other critical sectors. The debate highlights the complex interplay between economic growth, national security, and protectionist trade policies.

theguardian.com

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Dec 24, 10:09

Whyalla Steelworks Faces Closure, Threatening Australia's Construction Industry

The Whyalla steelworks, a crucial supplier of rebar steel for Australia's construction industry, is facing potential closure due to operational problems, prompting South Australian Premier Peter Malinauskas to warn of a "national disaster" and raise concerns about job losses and reliance on imported...

Whyalla Steelworks Faces Closure, Threatening Australia's Construction Industry

The Whyalla steelworks, a crucial supplier of rebar steel for Australia's construction industry, is facing potential closure due to operational problems, prompting South Australian Premier Peter Malinauskas to warn of a "national disaster" and raise concerns about job losses and reliance on imported...

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What are the immediate economic and societal consequences if the Whyalla steelworks closes?

The Whyalla steelworks in South Australia, owned by GFG Alliance, faces potential closure, jeopardizing Australia's construction industry's reliance on domestic steel production and impacting thousands of jobs. Premier Peter Malinauskas warned of a "national disaster" if the plant shuts down, highlighting the steelworks' crucial role in supplying rebar steel for construction. Recent redundancies of 40 contract workers underscore the severity of the situation.

cnbc.com

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Dec 20, 04:10

U.S. Steel Stock Plunges on Lowered Guidance

U.S. Steel's stock fell 4% in after-hours trading after the company lowered its fourth-quarter guidance due to low steel prices and high costs, adding to its 35% decline in 2024 and raising concerns about a proposed buyout from Nippon Steel; Nike's stock was initially up 9% after hours but fell back...

U.S. Steel Stock Plunges on Lowered Guidance

U.S. Steel's stock fell 4% in after-hours trading after the company lowered its fourth-quarter guidance due to low steel prices and high costs, adding to its 35% decline in 2024 and raising concerns about a proposed buyout from Nippon Steel; Nike's stock was initially up 9% after hours but fell back...

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How do broader market trends and industry-specific factors contribute to the volatility observed in U.S. Steel's stock price?

The decline in U.S. Steel's stock price reflects broader concerns about the steel industry, with low prices and high costs impacting profitability. The uncertainty surrounding the Nippon Steel buyout adds to investor apprehension, contributing to the significant drop in share value.

forbes.com

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Dec 12, 19:12

ArcelorMittal: Projected Revenue Growth and Earnings Potential

ArcelorMittal projects a 14% revenue increase by 2028, adding $9 billion, driven by strong EBITDA growth and diversification, despite market challenges and geopolitical risks. This could double earnings and significantly increase the stock price.

ArcelorMittal: Projected Revenue Growth and Earnings Potential

ArcelorMittal projects a 14% revenue increase by 2028, adding $9 billion, driven by strong EBITDA growth and diversification, despite market challenges and geopolitical risks. This could double earnings and significantly increase the stock price.

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What is the primary driver of ArcelorMittal's projected earnings growth, and what are the immediate consequences of this growth?

ArcelorMittal, a leading steel producer, is projected to achieve a 14% revenue increase by 2028, adding $9 billion. This growth, coupled with rising EBITDA/ton (from $89 to $133 in the first nine months of 2024), suggests a potential doubling of earnings. Current market conditions, while challenging, haven't hindered profitability due to investments and cost control.

theglobeandmail.com

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Jan 3, 16:09

Biden Blocks Nippon Steel's U.S. Steel Acquisition

President Joe Biden blocked Nippon Steel's $14.9 billion acquisition of U.S. Steel on Friday, citing national security concerns, despite concessions offered by Nippon Steel, including giving the U.S. government veto power over production; this follows a year of review and political opposition, poten...

Biden Blocks Nippon Steel's U.S. Steel Acquisition

President Joe Biden blocked Nippon Steel's $14.9 billion acquisition of U.S. Steel on Friday, citing national security concerns, despite concessions offered by Nippon Steel, including giving the U.S. government veto power over production; this follows a year of review and political opposition, poten...

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How did political factors and national security concerns influence the decision to block the merger?

The decision reflects concerns about maintaining a strong domestic steel industry for national security and resilient supply chains. Nippon Steel's concessions, including offering the U.S. government veto power over production changes, were insufficient to alleviate these concerns. The blocked deal could deter future foreign investment in U.S. companies, especially those with unionized workforces.

us.cnn.com

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Dec 24, 07:10

Biden to Decide Fate of Nippon Steel's US Steel Acquisition

President Biden will decide the fate of Nippon Steel's acquisition of US Steel after a government committee failed to reach a consensus on whether the deal poses a national security risk; the deal has become a political lightning rod, with public opposition from Biden, Vice President Kamala Harris, ...

Biden to Decide Fate of Nippon Steel's US Steel Acquisition

President Biden will decide the fate of Nippon Steel's acquisition of US Steel after a government committee failed to reach a consensus on whether the deal poses a national security risk; the deal has become a political lightning rod, with public opposition from Biden, Vice President Kamala Harris, ...

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What is the immediate impact of CFIUS's failure to reach a consensus on the Nippon Steel-US Steel merger?

The Committee on Foreign Investment in the United States (CFIUS) has failed to reach a consensus on the national security implications of Nippon Steel's proposed acquisition of US Steel. President Biden will now decide whether to block the deal, a decision he's publicly favored due to concerns about protecting American jobs. US Steel shares fell 3% after hours.

english.kyodonews.net

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Dec 24, 07:11

Biden to Decide Fate of U.S. Steel's $14.1 Billion Sale

President Biden will decide within 15 days whether to approve Nippon Steel's $14.1 billion acquisition of U.S. Steel after a federal panel failed to reach a consensus, despite Nippon Steel's pledges to maintain U.S. jobs and operations and counter China's steel dominance.

Biden to Decide Fate of U.S. Steel's $14.1 Billion Sale

President Biden will decide within 15 days whether to approve Nippon Steel's $14.1 billion acquisition of U.S. Steel after a federal panel failed to reach a consensus, despite Nippon Steel's pledges to maintain U.S. jobs and operations and counter China's steel dominance.

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What are the key arguments for and against the acquisition, and how do these arguments reflect broader concerns about national security and industrial policy?

President Biden's decision on the U.S. Steel acquisition reflects broader concerns about national security and the future of American industry. Both Biden and Trump have expressed opposition, aligning with the United Steelworkers union, despite support from U.S. Steel shareholders and some workers. Nippon Steel's pledges to maintain U.S. operations and jobs have not swayed this opposition.

abcnews.go.com

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Dec 24, 10:10

CFIUS Deadlocks on Nippon Steel-U.S. Steel Merger, Decision Rests with Biden

President Joe Biden will decide the fate of a proposed $14.9 billion deal for Nippon Steel to acquire U.S. Steel after a government panel deadlocked on national security concerns; Biden previously opposed the deal citing concerns over domestic ownership and operation.

CFIUS Deadlocks on Nippon Steel-U.S. Steel Merger, Decision Rests with Biden

President Joe Biden will decide the fate of a proposed $14.9 billion deal for Nippon Steel to acquire U.S. Steel after a government panel deadlocked on national security concerns; Biden previously opposed the deal citing concerns over domestic ownership and operation.

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What are the immediate consequences of CFIUS's failure to reach a consensus on the Nippon Steel-U.S. Steel merger, and what is the potential impact on American steel production?

The Committee on Foreign Investment in the United States (CFIUS) failed to reach a consensus on Nippon Steel's proposed $14.9 billion acquisition of U.S. Steel, leaving the decision to President Biden, who opposes the deal. This inaction follows Biden's March statement against the merger and leaves the future of U.S. Steel's domestic ownership uncertain. The White House has stated President Biden has 15 days to make a final decision.

forbes.com

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Dec 20, 13:12

Cleveland-Cliffs Stock Plummets 50% Amidst Weak Steel Demand

Cleveland-Cliffs' stock has fallen 50% year-to-date due to weak steel demand, underperforming the S&P 500 and its peers; however, a recent acquisition and projected demand rebound offer potential for recovery.

Cleveland-Cliffs Stock Plummets 50% Amidst Weak Steel Demand

Cleveland-Cliffs' stock has fallen 50% year-to-date due to weak steel demand, underperforming the S&P 500 and its peers; however, a recent acquisition and projected demand rebound offer potential for recovery.

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How does Cleveland-Cliffs' performance compare to its peers, and what factors explain the differences?

The global steel market downturn, characterized by oversupply in Europe and high inventory in China, coupled with weak U.S. manufacturing activity, has severely impacted Cleveland-Cliffs. Its high automotive sector exposure exacerbates this, explaining its underperformance compared to peers with more diversified portfolios.

themarker.com

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Dec 11, 10:42

"Asian Markets Mixed; Seoul Surges After Presidential Raid"

"Asian markets closed mixed today, with most experiencing declines amid uncertainty over China's stimulus and upcoming US inflation data; however, Seoul's market surged 1% following a police raid on President Yoon Suk-yeol's office."

"Asian Markets Mixed; Seoul Surges After Presidential Raid"

"Asian markets closed mixed today, with most experiencing declines amid uncertainty over China's stimulus and upcoming US inflation data; however, Seoul's market surged 1% following a police raid on President Yoon Suk-yeol's office."

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"What were the key factors influencing Asian market performance today?"

"Asian markets mostly closed lower, except for a 1% jump in Seoul, due to uncertainty about China's stimulus package and anticipation of US inflation data. Hong Kong lost 0.8%, the CSI 300 index fell 0.2%, Singapore dropped 0.5%, and Sydney declined similarly."

Showing 133 to 144 of 155 results