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U.S. Steel shares plummet amid questions over the fate of its merger with Nippon Steel

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Pittsburgh-area union members throw support behind Harris as she opposes sale of U.S. Steel


Pittsburgh-area union members throw support behind Harris as she opposes sale of U.S. Steel

02:45

U.S. Steel shares plunged on Wednesday as Wall Street questioned whether its $14.1 billion deal with Japan’s Nippon Steel is at risk of derailing.

Shares of U.S. Steel plunged as much as 25% in afternoon trading after the Washington Post reported President Joe Biden is preparing to formally block the proposed acquisition. As of 2:35 p.m., shares of U.S. Steel were down $7.12, or 20%, to $28.48. 

At an afternoon briefing, a White House official downplayed the Washington Post report, which cited three people familiar with the president’s plans. In a statement, the White House cited a process of review by the Committee on Foreign Investments in the United States, or CFIUS, a panel chaired by the Treasury Secretary. 

“CFIUS hasn’t transmitted a recommendation to the President, and that’s the next step in this process,” a White House official stated.

—This is a developing story and will be updated.



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Hunt for UnitedHealth CEO gunman continues, NYPD offering $10,000 for information

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Hunt for UnitedHealth CEO gunman continues, NYPD offering $10,000 for information – CBS News


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Police are still searching for the gunman who shot and killed UnitedHealthcare CEO Brian Thompson Wednesday in what authorities say appeared to have been a targeted attack. Anna Schecter, CBS News Crime and Safety Unit senior coordinating producer, has the latest on what we know.

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Mystery flu-like disease in Congo kills dozens, puts authorities “on general alert” as cases investigated

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Kinshasa, Congo – Congo’s health minister said Thursday the country’s government was on alert over a mystery flu-like disease that has killed dozens of people in recent weeks, nearly half of whom were children. Authorities have so far confirmed 71 deaths, including 27 people who died in hospitals and 44 in the community in the southern Kwango province, health minister Roger Kamba said.

“The Congolese government is on general alert regarding this disease,” Kamba said, without providing more details.

Of the victims who were hospitalized, 10 died due to a lack of blood transfusions and 17 as a result of respiratory problems, Kamba said.

Authorities have said symptoms of the illness include fever, headache, cough and anemia. Epidemiological experts were in the region to take samples and investigate the disease, the health minister said.

DRCONGO-HEALTH-VIRUS-MPOX
An agent from the international NGO Alima educates a family about the fight against the mpox epidemic in Kamituga, South Kivu province, in the east of the Democratic Republic of Congo, Sept. 21, 2024.

GLODY MURHABAZI/AFP/Getty


Congo is already plagued by the mpox epidemic, with more than 47,000 suspected cases and over 1,000 suspected deaths from the disease in the Central African country, according to the World Health Organization.

Authorities in the country began vaccinating people against mpox in October, nearly two months after the outbreak that spread from Congo to several African countries and beyond was declared a global emergency by the World Health Organization.



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Airline executives blasted at Senate hearing over carrier fees

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Officials from some of the largest U.S. airlines faced intense questioning on Capitol Hill Wednesday over so-called junk fees passengers are being charged for baggage, seat selection and other services.

“Our investigation found that in 2023 alone, American, Delta, United, Frontier and Spirit collected more than $3 billion in seat fees — only seat fees. That’s not airfare, that’s just fees for booking a specific seat in advance, or selecting a slightly better seat,” said Sen. Richard Blumenthal in a hearing by the Senate Permanent Subcommittee on Investigations on the impact of such charges on consumers. 

“And that’s an increase of 50% from 2018, just six years ago,” added the Connecticut Democrat, who chairs panel. 

Overall, tive U.S. carriers collected $12.4 billion in seat fees between 2018 and 2023, in addition to baggage and other charges, according to a report released last week by Democrats on the subcommittee. 

“Terrible experience”

Sen. Josh Hawley criticized Frontier Airlines and Spirit Airlines during the two-hour hearing for bonuses paid to gate employees to charge customers extra fees for large carry-ons. The subcommittee says Spirit and Frontier paid employees $26 million in incentives to strictly enforce airline bag policies in 2022 and 2023.

“You guys do appreciate that flying on your airlines is a disaster, don’t you?” the Missouri Republican said, adding, “Flying on your airlines is horrible, it’s a terrible experience. I mean, I say this as a father of three young children. But I can’t tell you — nobody enjoys flying on your airlines, it’s a disaster.” 

Spirit charges between $15 and $77 for a carry-on bag that won’t fit under a seat. 


United Airlines CEO talks flight junk fees, Trump’s potential tariffs

07:20

Airlines say that their fee policies are transparent and allow passengers to choose various travel experiences at different price points. Frontier said its incentive program aims to ensure “that all customers are treated equally and fairly,” CBS News’ Kris Van Cleave reported ahead of the Wednesday hearing. 

“We respectfully disagree with numerous statements and conclusions contained in the report,” Spirit said.

Asked for his response to the subcommittee’s findings, United CEO Scott Kirby told Van Cleave, “At United at least, we’re 100% focused on getting customers to choose to fly United. If you don’t want to check a bag, you shouldn’t have to pay the implied cost of checking a bag. We’re creating options for customers and it’s working.”

Airline fees have been a frequent target of criticism by the Biden administration, all the way up to President Joe Biden. A Transportation Department rule that took effect in October entitles airline passengers to automatic refunds when flights are canceled or significantly delayed, while also requiring airlines to reveal fees upfront.

The airline industry is suing to block another regulation requiring more prominent disclosure of baggage and cancellation fees. An appeals court has blocked that rule, and its fate is uncertain under President-elect Donald Trump.



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