On wednesday following a report the White House is preparing to formally block Nippon Steels 14 Billion takeover bid. People familiar with the matter say a decision could be made as soon as this week. The move would be highly controversial and critics say it would lead to Job Losses and could chill foreign investment in the us. For more, heres our North America Business correspondent Ritika Gupta in new york. Nippon steels 14 Billion bid to acquire united States Steel has been caught in the crosshairs of an election year, and in the crucial Swing State of pennsylvania, where us steel is based. Us president Joe Biden has long pledged that the iconic american company, headquartered in pittsburgh, should remain domestically owned and run. Presidential nominees Kamala Harris and Donald Trump have also both Committed to keep us steel american, though any move to block the deal could potentially be subject to litigation. Proponents of Nippon Steels bid say the us shouldnt reject a bid from a
designed to restrict china s ability to buy high tech microchips and it is now considering an executive order to curb us investment in sensitive areas. but ms yellen told her chinese counterparts that any such measures will be highly targeted. i that any such measures will be highly targeted. highly targeted. i emphasise that it would highly targeted. i emphasise that it would be highly targeted. i emphasise that it would be highly - that it would be highly targeted and clearly directed narrowly at a few sectors where we have specific national security concerns. i want to allay their fears that we would do something that would have broad based impacts on the chinese economy. that is not the case. that is not the intention. and i think this is an example of what i said about how to address national security concerns. a, how to address national security concerns. a senior market analyst security concerns. a senior market analyst told - security concerns. a senior market
to shut down the blast furnaces at port talbot. frustration, disappointment is probably the biggest word. disbelief. it sjust been. handled absolutely appallingly in my opinion. also coming up: are pre election handouts ahead? taxes in his march budget. when i look around the world to america and asia, when i look around the world to america iwith sia, when i look around the world to america iwith lower when i look around the world to america i with lower taxes countries with lower taxes have more dynamic, faster growing economies. that s and a sweet business that ran out ofjuice. we look at the rise and fall of the original indian steel giant tata is expected to confirm up to 3,000 jobs will be cut from its british operations. the bbc understands tata is to go ahead with plans to shut down both blast furnaces at its port talbot site in south wales which is the uk s biggest steel plant. the company is intending to replace the furnaces with an electric version which is more
jonathan charles is back with us geopolitical insight advisor, specialising in russia and the countries around it and a former bbc correspondent in moscow and ukraine markets in moscow and ukraine quick to react and no surprise markets quick to react and no surprise that the rouble has sunk. it surprise that the rouble has sunk. . , , ., ., sunk. it hasn t been doing that well for several sunk. it hasn t been doing that well for several weeks - sunk. it hasn t been doing that well for several weeks and - well for several weeks and months and it was inevitable with uncertainty and that is what we have with russia now, it has exacerbated a trend and we have seen that fall in the rouble. untilwe we have seen that fall in the rouble. until we know what is going to happen, can vladimir putin reassert that sense of strongman rule which at least is certainty, it may not be very nice, but at least it is certainty, then there will be questions about the economy, about the roub