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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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UnitedHealthcare CEO killing investigation widens to outside New York City

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UnitedHealthcare CEO killing investigation widens to outside New York City – CBS News


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The manhunt is widening for the gunman in the killing of United HealthCare CEO Brian Thompson. More than 48 hours after that brazen shooting in the heart of Midtown Manhattan, police now believe the man they are looking for has left New York City, sources say. Lilia Luciana has the latest developments.

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Who Biden may be considering preemptive pardons for?

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Who Biden may be considering preemptive pardons for? – CBS News


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CBS News has learned President Biden is considering issuing blanket preemptive pardons to some of President-elect Donald Trump’s biggest critics. CBS News senior White House and political correspondent Ed O’Keefe has the details.

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How strong is Pete Hegseth’s support on Capitol Hill?

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How strong is Pete Hegseth’s support on Capitol Hill? – CBS News


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The incoming president and vice president are standing firm behind the person they hope will lead the Department of Defense next year. In a social media post Friday morning, President-elect Donald Trump wrote “Pete Hegseth is doing very well. His support is strong and deep.” CBS News congressional correspondent Nikole Killion has more.

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