US President Joe Biden has rejected Nippon Steel's proposed $15 billion acquisition of US Steel, citing concerns for US national interests. This decision follows the Committee on Foreign Investment in the United States (CFIUS) inability to reach a consensus on the deal's potential security risks. Biden emphasized the importance of major US companies in leading the fight for American interests.
U.S. President Joe Biden speaks at an event to award the Presidential Citizens Medal to recipients in the East Room at the White House, Thursday, Jan. 2, 2025, in Washington. U.S. President Joe Biden has rejected the nearly US$15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his vow in March to block the acquisition.
As the federal government battles TikTok in court over Ottawa’s order to close its Canadian offices, Canada's industry minister says families should make their own decisions about whether to continue using the app.Canada crashes out of world juniors in quarterfinals for second straight yearHere's how immigration rules are changing in 2025
A year after a panel blew out of a Boeing 737 Max during flight, the United States' top aviation regulator says the company needs 'a fundamental cultural shift' to put safety and quality above profits.Blue Cactus has closed its doors in Ottawa's ByWard Market after serving customers for more than 35 years. A sign on the restaurant's door at 2 ByWard Market Square says Blue Cactus will be "closing its doors effective immediately.
The high cost of living is top of mind for many Calgarians, and the new calendar year means a new set of city fees, but some people may see one bill decrease.Lawson Crouse scored twice and the Utah Hockey Club snapped a five-game winless skid with a 5-3 comeback victory over the Calgary Flames on Thursday.The Ottawa Paramedic Service says three adult women were taken to hospital following a fire that happened in a highrise on Ramsey Crescent in the early hours of Friday morning.
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Nippon Steel's US$15 Billion Bid for U.S. Steel Faces Political HurdlesNippon Steel's acquisition of U.S. Steel, valued at nearly US$15 billion, faces significant political opposition from both outgoing and incoming U.S. presidents. Despite strong arguments from Nippon regarding the deal's economic benefits, including job creation and competitiveness against Chinese steel, the steelworkers' union raises concerns about job security and protection from foreign imports.
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Biden Blocks Nippon Steel's Bid for U.S. SteelU.S. President Joe Biden has rejected a nearly US$15 billion deal for Japan's Nippon Steel to acquire Pittsburgh-based U.S. Steel, citing national security concerns. The Committee on Foreign Investment in the United States (CFIUS) had failed to reach a consensus on the deal's potential risks.
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Biden Blocks US Steel Sale to Nippon Steel, Citing National SecurityPresident Biden blocked the $14.1 billion sale of US Steel to Nippon Steel, citing concerns over national security and the control of a major domestic industry.
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Biden blocks sale of U.S. Steel to Japan’s NipponThe proposed tie-up has faced opposition within the United States since it was announced a year ago, with both Biden and his incoming successor Donald Trump taking aim at it
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Biden to Block Nippon Steel's Acquisition of U.S. SteelPresident Joe Biden is expected to block Nippon Steel's $1.4 billion acquisition of U.S. Steel, citing national security concerns. The Committee on Foreign Investment in the United States (CFIUS) had reviewed the deal for months and referred the decision to Biden after failing to reach a consensus. While some of Biden's advisors expressed concerns about potential damage to U.S.-Japan relations, the president ultimately decided to prioritize national security interests.
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