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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

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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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Hunger spreads virtually everywhere in Gaza amid Israel-Hamas war

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Hunger spreads virtually everywhere in Gaza amid Israel-Hamas war – CBS News


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An Israeli airstrike killed at least 21 people in a designated humanitarian encampment in southern Gaza on Wednesday, according to a nearby hospital head. Meanwhile, Palestinians are struggling to find food in Gaza. CBS News foreign correspondent Debora Patta reports.

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Is Pete Hegseth making any progress on gaining GOP support?

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Is Pete Hegseth making any progress on gaining GOP support? – CBS News


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President-elect Donald Trump’s defense secretary pick, Pete Hegseth, was on Capitol Hill again Thursday to try to gain support among Republican senators for his confirmation. He is accused of sexual assault and workplace misconduct but has denied any wrongdoing. CBS News political reporter Jake Rosen has more.

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