Giant us steel have fallen sharply, after President Biden weighed in to oppose a near 15 billion takeover of the firm by a japanese company. Us steel is based in pittsburgh, pennsylvania a key battleground in this years election. The takeover deal, agreed in december, has caused major controversy there. But any move to block it could raise tensions with japan a vital ally for the us as it tries to counter the growing power of china. From new york, erin delmore reports. President biden is taking a stand against a deal in the making. Us steel, an american company, is set to be bought by nippon steel, a japanese company. But President Biden says that us steel should stay in the us. L115 says that us steel should stay in the us in the us. Us steel the stronger in the us. Us steel the stronger america in the us. Us steel the stronger america is in the us. Us steel the| stronger america is made in the us. Us steel the stronger america is made here. The president praised the iconic 123 year o
threaten the world s security and prosperity, in an exclusive interview with the bbc. we start in the us where, as you ve been hearing, president biden has been giving his first televised address since taking office. before that though, he signed a record breaking $1.9 trillion economic rescue package for the us into law, after it passed its final vote in congress on wednesday. the first direct payments of $1,400, which will benefit most americans, are expected to start arriving over the weekend. there s also bailout money for state and local governments and an increase in child and unemployment benefit, as welll as more funding for vaccination. the plan was unanimously opposed by house republicans, critics say it goes way beyond what s needed to tackle the pandemic fallout, and risks stoking inflation. so what are the long term implications? ed stringham is economics professor at trinity college in hartford, connecticut, and president of american institute for economic resea
The concentration of investor investment is tracking the spread of AI. The diffusion rate of the tech serves to prick excessive buildup of investor interest in companies that are driving horizontal AI that has economy-wide application. As of now, capital is piling up with the pioneers. But it should move as adapters, enablers and disruptors emerge. Generative AI s productivity-enhancement capabilities will become clearer as smaller companies adapt LLMs for industry-specific use cases.
central bank. she chaired bill clinton s council of economic advisers and spent six years running the san francisco fed before serving as bernanke s number two at the central bank. usa today has touted her. it was no more evidence in 2007 when she foreshadowed the housing crisis saying, i still feel the presence of a 600-pound gorilla in the room, and that s the housing market. in addition to being spot on about the real estate investment bubble and the slow pace of recovery, a wall street journal analysis found that yellen produced the most accurate forecast of all of the current fed officials from 2009 through 2013. joining us now from washington is cnbc s eamon javers. eamon, thanks for joining us. thank you, alex. let s talk about yellen. there was a lot of debate over
international gas. they talk about the ways to go about doing it in their view. more figures, this gas deposit, the rtstake, could be woh $2 trillion. that why there s so many companies already going for this. you ve got shell gas production already accnting for1/5 s the gas consumption according to an m.i.t. study. expected to collect half by 2030. h then take thisncre and start getting it outan fast and the time that some people are looking for natural gas. a lot less in the summer. the fact is, high demand mkets in that region. you ve got new york and new england, all of those people there. if they can get it out, the stakes are, incredibly huge, wh cnn money points to this as an investment bubble. all that said, talking about environmental concerns. jump to this last video. the story we got out of pennsylvania. in june of this year. ali you know about this.