Nippon Steel Corp (NPS.DU)
- Yahoo Finance Video
Biden voices support for workers who are against US Steel sale
At a press conference with Japanese Prime Minister Kishida Fumio, US President Joe Biden was asked about his opposition to the sale of US Steel (X) to Nippon Steel (NPSCY, 5401.T). Biden responded by saying, "I stand by my commitment to American workers. I'm a man of my word. I'm going to keep it. And, with regard to that, I stand by our commitment to our alliance." Biden had previously released a statement voicing opposition to the deal. He joins the US Steelworkers union, which is also against it. Yahoo Finance's Julie Hyman and Josh Lipton discuss the president's comments. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Stephanie Mikulich.
- Bloomberg
Yellen Chides China Over ‘Coercive’ Moves Against US Firms
(Bloomberg) -- Treasury Secretary Janet Yellen chided China for “unfair” treatment of American and other foreign companies and said its factories risk producing more than the world can easily absorb, as she began a four-day visit to the country.Most Read from BloombergNY Region Rattled by 4.8 Magnitude Quake, Biggest in 140 YearsTurkey Joins NATO Allies in Suspending Europe Arms TreatyZimbabwe Announces New Currency Called the ZiG, Backed by GoldTexas Toll Road Takeover to Cost Taxpayers at Leas
- Reuters
UPDATE 4-Japan union group announces biggest wage hikes in 33 years, presaging shift at central bank
Japan's biggest companies agreed to raise wages by 5.28% for 2024, the heftiest pay hikes in 33 years, the country's largest union group said on Friday, reinforcing views that the county's central bank will soon shift away from a decade-long stimulus programme. Workers at major firms had asked for annual increases of 5.85%, topping the 5% mark for the first time in 30 years, according to trade union group Rengo. Rengo, which represents about 7 million workers, many at large companies, had set its eyes on hikes of more than 3% in base pay -- a key barometer of wage strength as it provides the basis for bonuses, severance and pensions.
