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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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House Republicans block release of Gaetz ethics report, Schiff says preemptive pardon a bad idea

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House Republicans block release of Gaetz ethics report, Schiff says preemptive pardon a bad idea – CBS News


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Republicans in the House have blocked the release of the House Ethics Committee’s report on former Rep. Matt Gaetz after sinking two Democratic resolutions that would have compelled the committee to make the report public. CBS News congressional correspondent Scott MacFarlane has more on that and some of the other top news on Capitol Hill.

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Judge dismisses manslaughter charge against Daniel Penny

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Judge dismisses manslaughter charge against Daniel Penny – CBS News


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The judge in the New York City subway chokehold case has dismissed the 2nd-degree manslaughter charge against Daniel Penny after jurors said they were deadlocked on it. Penny still faces a lesser charge of criminally negligent homicide for the 2023 death of Jordan Neely. CBS News legal contributor Jessica Levinson has more.

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Police hold news conference after body recovered of grandmother who fell into sinkhole

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Police hold news conference after body recovered of grandmother who fell into sinkhole – CBS News


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Authorities in Western Pennsylvania have recovered the body of Elizabeth Pollard, the missing 64-year-old woman who fell through a sinkhole while looking for her cat. Police held a news conference Friday afternoon to speak about situation.

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