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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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How will Trump change AI safety regulations?

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How will Trump change AI safety regulations? – CBS News


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President-elect Donald Trump has promised changes to policies regarding artificial intelligence. Elizabeth Kelly, the director of the U.S. Artificial Intelligence Safety Institute, joins CBS News with more on the safety atmosphere already in place to study the technology.

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Syrians await Turkey border entry after fall of Assad’s regime

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Syrians await Turkey border entry after fall of Assad’s regime – CBS News


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Syrian refugees who fled to Turkey during President Bashar al-Assad’s regime are awaiting entry back into their country after the militant group Hayat Tahrir al-Sham, or HTS, took over. CBS News’ Imtiaz Tyab reports.

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Luigi Mangione contests New York extradition, denied bail

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Luigi Mangione contests New York extradition, denied bail – CBS News


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Luigi Mangione, the suspect charged in connection to the killing of UnitedHealthcare CEO Brian Thompson, was denied bail and contested extradition from Pennsylvania. CBS News’ Lilia Luciano has more on the court developments.

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