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Nippon Steel and US Steel filed suit Monday over US President Joe Biden’s decision to block the Japanese giant’s proposed acquisition of its American rival, accusing his administration of “illegal interference” in the huge transaction.The companies said in a statement that they had initiated legal action in the US court of appeals in Washington challenging …

US Steel and Nippon Steel sue over Biden’s decision to block merger Read More »

US and European markets mostly rose Monday following a report — strongly denied by US President-elect Donald Trump — that his incoming administration was mulling applying tariffs more selectively than he had previously suggested.While the Dow fell on Wall Street, both the S&P 500 and the Nasdaq Composite closed higher, as investors plowed money into the semiconductor …

US, European markets mostly rise as Trump tariff plans in question Read More »

European and US stock markets rose following a report Monday the incoming Trump administration will apply tariffs only on certain sectors, while the dollar was mostly lower against rival currencies.While Wall Street soared after Donald Trump’s election on expectations of tax cuts and deregulation, concerns about his plans to impose hefty tariffs on imports from China and …

European, US stock markets rise as Trump tariff plans in question Read More »

Japan’s prime minister Monday urged Washington to dispel concerns that Joe Biden’s decision to block Nippon Steel’s takeover of US Steel could impact future investments, with the two firms filing a lawsuit challenging the move.The US president’s announcement last week cited a strategic need to protect domestic industry, a move that drew sharp criticism from …

Japan PM says blocked US Steel deal could hit investments Read More »