HARRISBURG: President Donald Trump will control the so called “golden share” that’s part of the national security agreement under which he allowed Japan based Nippon steel to buy out iconic American steelmaker US Steel, according to disclosures with the US Securities and Exchange Commission.The provision gives the president the power to appoint a board member […]
FRANKFURT: Thyssenkrupp said Monday it planned a major overhaul that will split the vast conglomerate into several standalone businesses, fuelling fears about further job losses and a looming break-up of the historic German industrial titan. Once a symbol of German manufacturing might, Thyssenkrupp has fallen into crisis in recent years as high costs at home, […]
US President Donald Trump (File Image) US President Donald Trump approved a bid by Japan-based Nippon Steel to make a big investment in the iconic American steelmaker, causing the American company’s shares to surge dramatically amidst discussions about foreign control of a vital national asset.The Pennsylvania-based company’s shares increased by over 21 per cent, with […]
NEW DELHI: The United States has told the World Trade Organization (WTO) that its decision to impose tariffs on steel and aluminium imports was taken on national security grounds, not as a safeguard measure, a key distinction that challenges India’s formal complaint filed earlier this month.In a communication dated April 17, the US said the […]
Beijing warned Britain on Monday against “politicising” an unfolding spat over the future of Chinese-owned British Steel after legislation was approved to prevent the shutdown of the last British factory that can make steel from scratch. A spokesman for China’s foreign ministry urged the British government on Monday to “avoid politicising trade cooperation or linking […]
