CBS News
U.S. Steel shares plummet amid questions over the fate of its merger with Nippon Steel
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.
CBS News
Lori Vallow Daybell, woman who conspired to kill her 2 children, can be tried in the death of her estranged husband
A woman convicted of conspiring to kill her two youngest children and another woman was found competent on Thursday to stand trial on additional charges.
Two court-appointed doctors in Arizona deemed Lori Vallow Daybell fit to face charges of conspiring to kill her estranged husband, Charles Vallow, and a niece’s ex-spouse. She has already been sentenced to life in prison in Idaho for conspiring in the deaths of 7-year-old Joshua “JJ” Vallow, 16-year-old Tylee Ryan and Tammy Daybell.
Vallow Daybell’s fourth husband, Charles Vallow, was shot and killed in 2019 by Vallow Daybell’s brother, who told police he acted in self-defense and was never charged.
Vallow Daybell was already in a relationship with Chad Daybell, a self-published writer of doomsday-focused fiction loosely based on Mormon teachings. She moved from Phoenix to Idaho to be closer to him.
Chad Daybell became Vallow Daybell’s fifth husband and was later sentenced to death for the murders of both children and his then-wife, Tammy Daybell.
Prosecutors in the Idaho case called dozens of witnesses to bolster their claims that Chad Daybell and Vallow Daybell conspired to kill the two children and Tammy Daybell to eliminate any obstacles to their relationship and for the survivor benefits and life insurance.
Prosecutors say the couple justified the killings by creating an apocalyptic belief system that people could be possessed by evil spirits and turned into “zombies,” and that the only way to save a possessed person’s soul was for the possessed body to die. A Maricopa County Superior Court judge tentatively set Vallow Daybell’s trial for Feb. 24.
CBS News
Magnitude 7.0 earthquake rattles Northern California
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
CBS News
“CBS Evening News” headlines for Thursday, Dec. 5, 2024
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.