Trump Celebrates Nippon Steel 'Deal'
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Nippon Steel Corp (NPSCY) (NISTF), the Japanese firm locked in a prolonged battle to acquire U.S. Steel (X), announced plans on Friday to invest 869 billion yen ($6 billion) domestically to boost production using cleaner furnace technology.
Nippon Steel investors and analysts are asking if its $15-billion deal to buy U.S. Steel , backed but not yet approved by President Donald Trump, is positive for the near term, even if its hopes for strong U.
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President Donald Trump is holding a rally in Pennsylvania on Friday to celebrate a details-to-come deal for Japan-based Nippon Steel to invest in U.S. Steel.
Nippon Steel Corp., the Japanese company embroiled in lengthy battle to buy US Steel Corp., said it plans to spend 869 billion yen ($6 billion) at home to expand output from cleaner furnaces.
Nippon Steel plans to invest over 860 billion yen ($5.98 billion) to introduce electric furnaces at its three domestic plants to reduce carbon emissions, public broadcaster NHK said on Friday.
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Gary Mayor Eddie Melton said Nippon Steel plans to pump $1 billion in the Gary Works U.S. Steel facility — the largest steel plant in the country.
From the Japan-US tariff negotiations, to the latest on the Nippon Steel deal and the idea of a US-Japan sovereign wealth fund, Andrea Heng and Hairianto Diman get a round-up of the business headlines in Japan.