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01.07.2024Labour Party wins the general election

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politics 2025-06-26 00:00

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.

business 2025-05-23 20:20

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.

politics 2025-01-12 03:42

President Biden's executive order blocked the acquisition of U.S. Steel by Nippon Steel citing national security.
The CFIUS granted an extension for the companies to review their legal challenge against the order.
Both companies are seeking to complete the deal to secure the future of the U.S. steel industry amidst financial uncertainties.

politics 2025-01-07 11:12

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.

business 2025-01-06 16:54

U.S. Steel and Nippon Steel filed a lawsuit against the Biden administration for blocking their $15 billion merger.
They accused the government of a corrupt review process influenced by union interests, particularly the United Steelworkers.
This legal action underscores the complexities of national security regulations in foreign investments in American industries.

business 2024-09-08 00:00

Kamala Harris, the Democratic presidential nominee, stated that US Steel should be owned by Americans during a campaign event in Pittsburgh.
The acquisition of US Steel by Nippon Steel for $15 billion is facing potential blockage by President Biden, leading to a significant drop in US Steel's share price.
The political opposition and potential intervention could signal a shift in the landscape for future mega-mergers in the U.S.

business 2024-07-11 17:18

Japanese steelmaker Nippon Steel Corp is close to acquiring Pittsburgh's iconic U.S. Steel.
The sale of US Steel has sparked a political storm in the city.
This acquisition signifies a shift in the steel industry landscape and raises concerns about the future of US steel production.

business 2024-05-03 18:56

Nippon Steel postponed the $14.1 billion takeover of U.S. Steel by three months.
The US DOJ requested more documentation related to the deal.
Despite fears of layoffs, Japan's largest steelmaker has pledged no job cuts as a result of the merger.

business 2024-04-18 18:30

business 2024-04-12 22:28

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