Reported 2 days ago
President Joe Biden recently blocked Nippon Steel's $14.9 billion bid to purchase US Steel, citing concerns over national security and the importance of American ownership in steel production. This decision comes as US Steel faces financial challenges and may need to restructure, leaving thousands of jobs at risk. While many union members supported the deal for its potential benefits, Biden's decision has prompted criticism from business analysts who argue it may jeopardize job security in the long run.
Source: YAHOO