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President Donald Trump expressed reluctance to sell US Steel to Japan's Nippon Steel, stating it was "hard" for him to agree to a foreign purchase of the iconic brand. Instead, he feels more comfortable with Nippon Steel acting as an investor, following a review of the proposed takeover that was previously blocked.
President Trump expressed opposition to Nippon Steel's $14 billion bid for U.S. Steel, stating, "We don’t want to see it go to Japan." This contradicts recent actions by his administration, which had directed a review of the bid. Shares of U.S. Steel fell 12% amid uncertainty surrounding the deal, which has faced political opposition and legal challenges since its announcement in December 2023.
Nippon Steel and US Steel are negotiating a deal to secure a $14 billion merger, with Nippon offering to increase its investment in US Steel facilities from $2.7 billion to as much as $7 billion. The discussions involve the US government, with Nippon Steel's president confirming ongoing negotiations to finalize the equity purchase terms and future investment plans.
President Trump announced that Elon Musk will review nearly all federal agencies to cut $2 trillion in spending, while also supporting DOGE's access to personal data. During a news conference with Japanese Prime Minister Shigeru Ishiba, Trump discussed tariffs and a potential restructuring of Nippon Steel's deal to invest in U.S. Steel. The leaders emphasized the importance of U.S.-Japan relations and military cooperation in the Indo-Pacific region.
Wienerberger will release its financial figures for 2024 on February 13, 2025, while Diageo denies reports of selling Guinness. UltraTech Cement is in talks to acquire HeidelbergCement India, and ProSiebenSat.1 faces leadership changes amid shareholder conflicts. Ryanair's growth is hindered by Boeing's delivery issues, and merger talks between SGS and Bureau Veritas have ended.
Global markets showed mixed results, with European indices rising while Japan's Nikkei 225 fell 1.8% after a holiday. Chinese shares surged following a pledge from the China Securities Regulatory Commission to support market stability, contributing to gains in Hong Kong and Shanghai. Meanwhile, U.S. stocks faced pressure as traders reassess expectations for Federal Reserve interest rate cuts amid persistent inflation.
Asian shares mostly rose, buoyed by a Wall Street rally led by Nvidia, with Japan's Nikkei 225 jumping 2.4%. U.S. Steel gained 8.1% after filing a lawsuit against the Biden administration's block of its merger with Nippon Steel, which fell 1.5%. Investors are eyeing potential policy shifts under incoming President Donald Trump, while the Federal Reserve's upcoming minutes and economic reports could influence market sentiment.
Asian shares mostly rose, buoyed by a Wall Street rally led by Nvidia, with Japan's Nikkei 225 jumping 2.2%. However, Hong Kong's Hang Seng index fell 1.9% due to a significant drop in Tencent shares following U.S. sanctions. U.S. Steel gained 8.1% after filing a lawsuit against the Biden administration's block of a merger with Nippon Steel, which also saw a decline in its stock.
Global shares traded mixed, with European benchmarks declining while Asian markets found some optimism from rising technology stocks. The U.S. stock market is expected to drift lower, influenced by ongoing legal challenges regarding a major merger and upcoming economic indicators, including a jobs report and Federal Reserve minutes. In energy trading, crude oil prices saw slight declines, while the U.S. dollar strengthened against the yen.
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