Industrials

Politics

US steel workers outraged over billion-dollar deal 'selling out' employees to a foreign entity

U.S. Steel has allegedly "sold off to the highest bidder to line their own pockets," according to local union presidents who now worry about their job security and livelihoods.

US Steel company reportedly moving forward with Japanese sale

FOX Business' Lydia Hu speaks with United Steelworkers local union presidents, who say the industry is being 'sold off to the highest bidder.'

Manufacturers fear economic impact of another Biden presidency

FOX Business’ Grady Trimble speaks with manufacturers in Iowa about their economic concerns less than a week away from the state’s caucuses.

Industrials sector is a space to get into in 2024: Ross Mayfield

Baird investment strategy analyst Ross Mayfield breaks down the industrials sector and shares his market outlook for 2024.

Industrials

Japan's Nippon Steel to buy US Steel in $14.9B deal

U.S. Steel's shares suffered after several quarters of falling revenue and profit, making it an attractive target for rivals looking to add a maker of steel used by the auto industry.

Sports

Lionel Messi's World Cup-winning jerseys sell for $7.8 million

Six jerseys Lionel Messi wore during his victorious World Cup run last year sold at Sotheby's auction house for a total of $7.8 million.

US

Payments to displaced East Palestine residents to stop after one-year anniversary

Norfolk Southern has announced it will will soon stop paying relocation aid to people who were forced to move out in East Palestine, Ohio,?in February following a fiery derailment.

Industrials

British Steel seeks state help for new furnaces as job cuts loom

Britain's second-biggest steelmaker outlined a 1.25 billion pound plan to make steel in a less carbon intensive way by installing electric arc furnaces at its sites in England.

Industrials

Ford reaches tentative agreement with Canadian auto workers

Canadian auto worker union Unifor and Ford have reached a tentative contract deal, averting a strike that would have seen around 5,600 Canadian workers join UAW in striking.

Politics

Senator JD Vance calls on US Steel to refuse buyout bids from foreign entities

Ohio GOP Senator JD Vance sent a letter to U.S. Steel calling on the storied American company to reject any buyout offers from foreign entities.

Loan rejection going to have a 'huge effect' on the consumer: Barry Zekelman

Zekelman Industries Chairman and CEO Barry Zekelman on U.S. steel corp rejecting takeover offer from Cleveland-Cliffs, loan rejection rates rising and the impact of Biden's Inflation Reduction Act tax credit on domestic steel manufacturers.

Industrials

US Steel rejects $7.3 billion buyout offer from Cleveland-Cliffs

U.S. Steel Corp. declined a $7.3 billion acquisition offer from rival steelmaker Cleveland-Cliffs Inc. and launched a formal review of its strategic options.

The 'huge demand' for skilled workers hurt by young generations' fear of 'hard work': Andrew Crapuchettes

RedBalloon CEO Andrew Crapuchettes explains how the baby boomer generation has left a stigma on blue or mixed-collar work.

Industrials

Train derails into Montana's Yellowstone River

A train derailment has been reported near Big Timber, Montana with a bridge collapse sending multiple cars into the Yellowstone River and leaking fuel.

Markets

3M settles 'forever chemicals' water pollution lawsuit for $10B

Minnesota-based chemicals manufacturer 3M has reached a $10.3 billion agreement to settle lawsuits over contaminated U.S. drinking water systems.

Markets

Bunge, Viterra to merge to create global agribusiness giant

Bunge will buy Viterra for $8.2 billion. The acquisition will come alongside a $2 billion stock buyback and will merge ownership through a stock and cash deal.

Lifestyle

Man dies after becoming stuck in Wisconsin paper mill machinery

A 40-year-old worker at a Whiting, Wisconsin paper mill was tragically killed this week after being caught in the machinery and fatally injured.

Lifestyle

Price drop: People are paying less than MSRP for new cars again

Incentive spending is up as new vehicle inventories improve, which helped drive the average transaction price paid for a new vehicle below MSRP in April.

America’s factory boom drives sales surge for excavators, steel and trucks

A backlog of orders stemming from supply-chain bottlenecks during the pandemic and higher demand from new factories under construction have boosted manufacturing companies.

Markets

Global commodity prices likely to slip in 2023, World Bank says

The World Bank expects much of the fall that has already occurred to now be steady for the remainder of the year, with prices possibly lifting in 2024.

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