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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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What declining wine sales mean for California’s wine grape industry

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What declining wine sales mean for California’s wine grape industry – CBS News


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Wine sales have been declining for years, as younger generations drink less and wine in particular becomes pricier. The shift is having a major impact on California, where 80% of U.S. wine grapes are grown. Elizabeth Cook takes a look at what the future might hold for the industry.

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12/10: The Daily Report – CBS News

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12/10: The Daily Report – CBS News


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Lindsey Reiser reports on the latest legal action in the investigation into the killing of UnitedHealthcare’s CEO, a raging wildfire in Malibu, and what a new study tells us about the dangers of excessive heat.

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Suspected UnitedHealthcare CEO killer fighting extradition

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Suspected UnitedHealthcare CEO killer fighting extradition – CBS News


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The 26-year-old accused of killing UnitedHealthcare CEO Brian Thompson is being held without bail in Pennsylvania as he fights extradition to New York, where the murder took place. Lilia Luciano has the latest.

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