Nippon Steel Corporation
Steel producer in Japan
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01.07.2024Labour Party wins the general election
01.07.2024Labour Party wins the general election
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politics 2025-06-26 00:00
Trump controls U.S. Steel under unprecedented golden share agreement - President Donald Trump has been granted control over the 'golden share' as part of a national security agreement related to U.S. Steel.
- This provision allows Trump to influence key decisions affecting U.S. Steel's operations while he is in office.
- Critics argue that this unprecedented control represents a form of government interference in private enterprise, raising concerns about conflicts of interest.
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business 2025-06-25 18:13
Nippon Steel commits billions to revive Pittsburgh steelmaking - Nippon Steel's acquisition of U.S. Steel is complete.
- The company commits $2 billion to upgrade the Mon Valley Works facility and $500 million for a new R&D center.
- Local leaders predict thousands of new jobs, ensuring the Mon Valley's steelmaking legacy continues.
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business 2025-06-19 11:22
Nippon Steel completes $15 billion acquisition of U.S. Steel - Nippon Steel reached an agreement to acquire U.S. Steel for approximately $15 billion, marking a significant milestone in the steel industry.
- This acquisition faced hurdles related to national security concerns but was ultimately approved under specific conditions set by the U.S. government.
- The deal is expected to enhance both companies’ manufacturing capabilities and solidify Nippon Steel's position in the U.S. market.
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business 2025-06-11 12:11
3D Investment Partners challenges Nippon Steel leadership amid investment concerns - 3D Investment Partners has issued a statement urging shareholders to vote against the reappointment of Nippon Steel executives.
- The company's capital investment plan significantly exceeds its market valuation, raising concerns about potential value destruction.
- The shareholder meeting on June 24 will be a critical event for determining Nippon Steel's future leadership and investment strategies.
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business 2025-05-31 23:31
Trump assures U.S. Steel will stay American amid Nippon Steel investment - President Trump held a rally in Pittsburgh to announce Nippon Steel's investment in U.S. Steel, emphasizing American control over the company.
- The deal aims to create about 70,000 jobs, but the specifics of the investment have not been disclosed yet.
- Concerns from the United Steelworkers union indicate skepticism about job security and the true nature of the partnership.
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business 2025-05-27 16:27
Trump approves Nippon Steel investment in U.S. Steel while keeping headquarters in Pittsburgh - President Donald Trump announced a partnership that maintains U.S. Steel's headquarters in Pittsburgh.
- The deal involves a $14 billion investment from Japan's Nippon Steel and aims to create 70,000 new jobs.
- This strategic partnership shifts the narrative of foreign involvement in U.S. Steel away from ownership to investment.
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business 2025-05-23 20:20
Nippon Steel proposes $11 billion investment to secure U.S. Steel deal - Nippon Steel has proposed a new investment package of $14 billion for U.S. Steel's operations, including $4 billion for a new steel mill.
- The investment could lead to tens of thousands of job protections or creations, reflecting Nippon's commitment to U.S. jobs.
- This substantial financial pledge represents Nippon Steel's last effort to secure government approval amid ongoing national security reviews.
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business 2025-04-26 09:00
Union boss struggles to oppose Nippon-US Steel merger backed by members - The proposed merger between Nippon Steel and U.S. Steel involves a $15 billion investment.
- David McCall, president of the United Steelworkers, opposes the deal while many local members support it.
- His past criticisms of Donald Trump create challenges in influencing the administration's decision.
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business 2025-02-11 00:00
Trump announces shift in Nippon Steel's investment strategy for U.S. Steel - In his final days in office, President Biden blocked Nippon Steel from acquiring U.S. Steel.
- Local leaders express mixed feelings about the implications of the current investment strategy.
- Revisions to the deal could maintain local jobs while allowing crucial funding into the steelworks.
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business 2025-01-15 12:04
Shigeru Ishiba calls on Biden to address Nippon Steel's acquisition concerns - The Biden administration extended the deadline for Nippon Steel to acquire U.S. Steel to June 18, 2025.
- Concerns were raised by Japanese Prime Minister Shigeru Ishiba regarding the implications of Biden's decision for trade relations.
- The extension gives the involved companies time to challenge the acquisition's block in court and potentially negotiate new terms.
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politics 2025-01-09 00:00
Biden blocks $14 billion US Steel deal despite official doubts - President Joe Biden blocked the acquisition of US Steel by Nippon Steel, despite mixed opinions on national security concerns from top U.S. officials.
- The decision garnered both praise from unions and criticism from industry leaders, as it claimed to protect jobs but risked the future of US Steel.
- The move illustrates Biden's administration's ongoing struggle to balance national security and foreign investment interests in the U.S. economy.
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politics 2025-01-07 11:12
Biden blocks Nippon Steel's bid for US Steel amid national security concerns - President Joe Biden used presidential powers to block Nippon Steel's proposed acquisition of U.S. Steel due to national security concerns.
- The decision followed an inconclusive review by the Committee on Foreign Investment in the United States on the potential risks of the deal.
- Biden's actions reinforce his commitment to maintaining a strong domestic steel industry in American hands, aligning with labor union support.
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politics 2025-01-06 12:33
Biden blocks Nippon Steel's $15 billion takeover of U.S. Steel - President Joe Biden blocked the $14.3 billion acquisition of US Steel by Nippon Steel, citing national security concerns.
- Biden's decision follows a review by the Committee on Foreign Investment in the United States, which could not agree on the deal's implications for national security.
- This move reflects growing bipartisan opposition to foreign control of American industries, particularly in pivotal sectors like steel.
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business 2025-01-05 21:31
Nippon Steel considers quick legal action against US government - The planned $14.9 billion acquisition of U.S. Steel by Nippon Steel has been blocked by President Biden due to national security concerns.
- U.S. Steel's shareholders had previously approved the acquisition, warning of potential job cuts if the deal was obstructed.
- Nippon Steel's president, Imai, is considering legal action against the U.S. government as one of the options following the blocked deal.
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business 2025-01-04 00:00
Japan won't back down as Nippon Steel's takeover fails - President Biden stopped the merger between Nippon Steel and U.S. Steel, citing national security concerns.
- Japanese officials expressed fears that the merger's rejection would harm U.S.-Japan economic relations.
- Despite this setback, experts believe Japanese companies will continue to seek investment opportunities in the United States.
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business 2025-01-02 07:36
Nippon Steel's takeover bid for U.S. Steel is doomed to fail - Nippon Steel's bid for U.S. Steel includes a proposal to give the U.S. government veto power over production cuts.
- The acquisition has raised concerns from the Committee on Foreign Investment in the U.S. about its effect on American steel output.
- Political opposition to the deal complicates its approval, despite some local workers' support for the acquisition.
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society 2024-12-28 09:02
Biden to decide after panel fails to reach consensus on US Steel acquisition - The CFIUS reviewed the proposed acquisition due to national security concerns.
- President Biden must decide on the deal after CFIUS failed to reach consensus.
- Opposition to the acquisition emphasizes maintaining U.S. ownership of steel production.
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politics 2024-12-24 03:02
Biden plans to block $15 billion Nippon Steel-U.S. Steel deal over national security - U.S. Steel's proposed acquisition by Nippon Steel faces opposition from key political figures citing national security concerns.
- The Clairton Works, the largest coke manufacturing facility in the U.S., is integral to U.S. Steel's operations.
- Approval of the acquisition could boost U.S. Steel's market position and employment opportunities amid declining domestic performance.
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politics 2024-09-18 00:00
Biden and Trump oppose Nippon Steel’s $14.9B U.S. Steel takeover - Joe Biden and Kamala Harris oppose Nippon Steel's $14.9 billion takeover of U.S. Steel, with Biden planning to block the deal.
- U.S. Steel warns that blocking the sale could lead to facility shutdowns in Pennsylvania, a critical swing state in the election.
- The review by CFIUS has granted Nippon Steel an extension to resubmit its application, pushing any decision past the election.
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politics 2024-09-18 00:00
Nippon Steel gains 90 days for US Steel acquisition review - Nippon Steel is expected to re-file its application for a national security review of its $15 billion takeover bid for US Steel.
- Political opposition has emerged from key figures, including President Biden and both major party presidential nominees, raising concerns about the deal's future.
- The extension of the review period allows for further consideration, but significant pushback remains, indicating the deal's contentious nature.
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politics 2024-09-16 00:00
Nippon Steel"s bid to buy US Steel amid election season tensions - Nippon Steel aims to acquire US Steel, focusing on job preservation in America.
- Economists support the acquisition, suggesting it could benefit the U.S. economy.
- Political opposition from presidential candidates highlights the tension between economic rationale and political pressures.
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politics 2024-09-15 22:33
Japan seeks US alliance to tackle China’s steel dominance - Nippon Steel Corporation is attempting to acquire U.S. Steel for $14.9 billion amid concerns over China's steel dominance.
- Shinjiro Koizumi has called for U.S.-Japan cooperation to combat the influx of cheap Chinese steel, which threatens local industries.
- The acquisition raises concerns about potential reductions in U.S. steel production capacity, highlighting the need for protective measures.
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category, subcategories 2024-09-12 13:05
Lawmakers criticize Nippon Steel"s acquisition of U.S. Steel deal - Lawmakers, including President Biden and former President Trump, have criticized Nippon Steel's acquisition of U.S. Steel.
- CFIUS is assessing the deal for potential national security risks, with concerns about cheap steel flooding the U.S. market.
- Business groups warn that blocking the deal could harm future foreign investments and the U.S. economy.
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politics 2024-09-11 03:41
Nippon Steel"s Last Effort to Secure $15B US Deal Amid Ownership Concerns - Nippon Steel's Vice Chairman Takahiro Mori is set to meet with U.S. officials to discuss the proposed acquisition of U.S. Steel.
- Vice President Kamala Harris has expressed support for keeping U.S. Steel 'American-owned,' raising concerns about national security.
- The outcome of these discussions could determine the future of the $15 billion deal and its implications for foreign investments in the U.S.
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politics, business 2024-09-09 00:00
Biden and Harris oppose Nippon Steel"s U.S. Steel deal - Nippon Steel agreed to purchase U.S. Steel for $14.1 billion, promising a $2.4 billion investment in upgrades.
- Biden and Harris oppose the deal, allegedly seeking union support for the Democratic presidential ticket.
- Blocking the acquisition could lead to mass layoffs, highlighting the importance of foreign investment for American jobs.
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politics, business 2024-09-06 13:59
White House poised to block Nippon Steel"s US Steel acquisition - The White House is signaling a likely block on Nippon Steel's acquisition of U.S. Steel as a government review concludes.
- President Biden and Vice President Harris have voiced their opposition, aligning with labor unions and emphasizing the importance of domestic manufacturing jobs.
- The stock of U.S. Steel fell by 19% following news of the potential block, highlighting market concerns about the merger's future.
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politics, society, business 2024-09-06 12:02
Cleveland Cliffs bids for US Steel mills amid closure threat - US Steel threatens to close mills if its sale to Nippon Steel is blocked by the Biden administration.
- Cleveland Cliffs offers to buy the mills, claiming it has financing ready, while the union supports this move.
- The situation raises concerns about national security and labor relations, with potential implications for the steel industry.
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politics, business 2024-09-06 00:00
U.S. Blowback to Steel Merger Vexes Japan - President Biden is considering blocking Nippon Steel's $15 billion merger with U.S. Steel on national security grounds.
- Japanese officials are expressing concerns that this action could portray Japan as a threat, straining U.S.-Japan relations.
- The potential blockage may lead Japan to adopt a more passive role in its alliance with the U.S., impacting regional stability.
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politics, business, society 2024-09-05 14:54
Biden blocks $14.9 billion US Steel sale to Nippon Steel - The Biden administration plans to block the $14.9 billion sale of US Steel to Nippon Steel, causing US Steel's shares to drop over 20%.
- US Steel's CEO warned that blocking the merger could lead to job losses and the closure of steel mills, particularly affecting Pennsylvania.
- Bipartisan opposition to the deal highlights concerns over foreign ownership, with significant implications for the upcoming presidential election.
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politics, society, business 2024-09-05 00:00
Biden Expected to Block U.S. Steel Takeover - The Biden administration is preparing to block Nippon Steel's acquisition of U.S. Steel due to national security concerns.
- The deal has faced opposition from lawmakers and the Steelworkers Union, emphasizing the importance of American ownership.
- The potential block could damage the U.S.'s reputation for open markets and politicize foreign direct investment.
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politics, business 2024-09-04 13:02
US Steel plans plant closures and HQ move if Nippon deal fails - US Steel's CEO warns of plant closures and HQ relocation if the Nippon Steel sale fails.
- Political opposition, including from President Biden, complicates the acquisition process.
- Nippon Steel's increased investment aims to modernize US Steel's facilities and secure the deal.
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politics, business 2024-09-04 00:00
Bipartisan Leaders Oppose US Steel Merger with Nippon Steel - Bipartisan leaders, including President Biden and former President Trump, oppose the merger between Nippon Steel and US Steel.
- The union representing US Steel workers is concerned about job security and has not been convinced by Nippon's assurances.
- The merger's future hinges on the union's stance, as their support could facilitate regulatory approval.
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2023 All rights reserved
2023 All rights reserved