Nippon Steel closed its $14.9 billion acquisition of U.S. Steel on Wednesday after securing approval from the Trump administration, which obtained a rare “golden share” giving the U.S. government veto power over key corporate decisions.
The Japanese steel giant purchased 100% of U.S. Steel shares at $55 per share, as originally proposed in December 2023, ending an 18-month effort that faced intense political scrutiny and opposition from both major U.S. political parties.
In a statement, Nippon Steel Chairman and CEO Eiji Hashimoto thanked President Donald Trump for facilitating the deal, saying the company is “excited about opening a new chapter of U.S. Steel’s storied history.”
The final agreement included an unprecedented national security arrangement. The U.S. government will hold a non-economic golden share, giving it veto authority over decisions such as idling plants, cutting production, relocating jobs overseas, moving the company’s Pittsburgh headquarters, or any future name change or acquisition of a rival.
The golden share, designed to address national security concerns, was critical for winning approval from the Committee on Foreign Investment in the U.S. (CFIUS). Legal experts have warned the measure could make foreign investors wary of future U.S. deals.
For Nippon Steel, the acquisition secures access to U.S. markets as the company aims to raise its crude steel production capacity to 86 million tons, moving closer to its strategic goal of 100 million tons globally.
The Japanese firm will invest $11 billion through 2028 in U.S. operations, including $1 billion for a new mill, positioning itself to benefit from U.S. infrastructure projects while avoiding the 50% steel tariffs faced by other foreign competitors. The deal also spared Nippon Steel from paying a $565 million breakup fee had the transaction fallen through.
Canada warns the U.S. to reach a trade deal by July 21 or face new steel and aluminum tariffs, as PM Carney vows to protect Canadian workers from U.S. measures.
Iranian missiles struck multiple locations across Israel and neighboring regions early Thursday, including a Microsoft office complex, according to emergency responders and local media reports.
SpaceX’s massive Starship spacecraft dramatically exploded late Wednesday night during testing at the company’s test site in Brownsville, Texas. The incident marks the latest setback for billionaire Elon Musk’s ambitious plan to send humans to Mars.
The 19th General Assembly of the Organization of Asia-Pacific News Agencies (OANA) is underway in St. Petersburg, Russia. The gathering, which brings together 41 news agencies from 33 countries, is being hosted by the TASS news agency as part of the St. Petersburg International Economic Forum.
European stock markets ended the day in negative territory following interest rate decisions by major central banks, including the U.S. Federal Reserve (Fed) and the Bank of England (BoE).
Canada warns the U.S. to reach a trade deal by July 21 or face new steel and aluminum tariffs, as PM Carney vows to protect Canadian workers from U.S. measures.
Iranian missiles struck multiple locations across Israel and neighboring regions early Thursday, including a Microsoft office complex, according to emergency responders and local media reports.
SpaceX’s massive Starship spacecraft dramatically exploded late Wednesday night during testing at the company’s test site in Brownsville, Texas. The incident marks the latest setback for billionaire Elon Musk’s ambitious plan to send humans to Mars.
The 19th General Assembly of the Organization of Asia-Pacific News Agencies (OANA) is underway in St. Petersburg, Russia. The gathering, which brings together 41 news agencies from 33 countries, is being hosted by the TASS news agency as part of the St. Petersburg International Economic Forum.
European stock markets ended the day in negative territory following interest rate decisions by major central banks, including the U.S. Federal Reserve (Fed) and the Bank of England (BoE).
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 17th, covering the latest developments you need to know.
European stock markets ended the day in negative territory following interest rate decisions by major central banks, including the U.S. Federal Reserve (Fed) and the Bank of England (BoE).
South Korea’s new administration proposed $14.7 billion in additional spending on Thursday to boost weak domestic demand, as President Lee Jae Myung pushes economic recovery as his top priority.
If the European Central Bank adjusts interest rates in the next six months, the move would likely be a cut, ECB policymaker Francois Villeroy de Galhau said on Thursday.
The European Bank for Reconstruction and Development (EBRD) has launched its Youth in Business programme in Türkiye, building on its success in 12 other countries. The initiative aims to mobilise up to €250 million in financing to support young entrepreneurs under 35.
KazMunayGas (KMG) and China’s Sinopec have reached an agreement on the terms for jointly implementing the Berezovski subsoil use project in Kazakhstan’s West Kazakhstan region. The signed documents outline joint activities and formalize the strategic partnership between the two companies.
Canada warns the U.S. to reach a trade deal by July 21 or face new steel and aluminum tariffs, as PM Carney vows to protect Canadian workers from U.S. measures.
Iranian missiles struck multiple locations across Israel and neighboring regions early Thursday, including a Microsoft office complex, according to emergency responders and local media reports.
SpaceX’s massive Starship spacecraft dramatically exploded late Wednesday night during testing at the company’s test site in Brownsville, Texas. The incident marks the latest setback for billionaire Elon Musk’s ambitious plan to send humans to Mars.
The 19th General Assembly of the Organization of Asia-Pacific News Agencies (OANA) is underway in St. Petersburg, Russia. The gathering, which brings together 41 news agencies from 33 countries, is being hosted by the TASS news agency as part of the St. Petersburg International Economic Forum.
European stock markets ended the day in negative territory following interest rate decisions by major central banks, including the U.S. Federal Reserve (Fed) and the Bank of England (BoE).
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