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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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Syrian rebels close in on crucial city of Homs

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Syrian rebels close in on crucial city of Homs – CBS News


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Thousands of people have been forced to leave parts of central Syria as rebel forces advance on the country’s third-largest city of Homs. It would be a major win for the rebels, who have also captured the city of Aleppo. CBS News national security contributor Sam Vinograd joins with analysis.

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Daniel Penny jury to reconvene after judge tosses manslaughter charge

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Daniel Penny jury to reconvene after judge tosses manslaughter charge – CBS News


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The judge in the New York City subway chokehold trial has dismissed the second-degree manslaughter charge against Daniel Penny. The jury will reconvene Monday to consider a lesser charge of criminally negligent homicide. CBS News New York anchor and reporter Alice Gainer has more from outside the New York City courthouse.

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Person of interest in killing of UnitedHealthcare CEO has left New York City, police believe

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Person of interest in killing of UnitedHealthcare CEO has left New York City, police believe – CBS News


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The manhunt for the gunman that killed the CEO of UnitedHealthcare in New York City is in its third day, and police now believe a person of interest in the case is no longer in New York City, sources said. CBS News crime and public safety senior coordinating producer Anna Schecter has the latest.

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