International
A federal committee leaves the decision on the purchase of US Steel in the hands of Joe Biden
The United States Foreign Investment Committee (CFIUS), a federal agency chaired by the Treasury Department, told the White House that it is unable to reach an agreement on the purchase of the steel company US Steel by the Japanese Nippon Steel.
The committee informed Washington that it has not reached a consensus on the risk that the operation – valued at 14.9 billion dollars – would pose in national security, thus passing the final decision to President Joe Biden, who has previously opposed the transaction.
“The CFIUS has notified us that the committee has not been able to reach a consensus on the transaction and has sent it to the president to make a decision,” the American company reported today in a statement released on its social networks.
The company indicated that the operation is “the best way” to ensure that US Steel, its employees, communities and customers, “thris in the future.”
And he added that “it improves US national and economic security through investment in manufacturing and innovation and forges a steel alliance to combat China’s competitive threat.”
“We hope that President Biden does the right thing and adheres to the law,” he said.
Biden, who has previously alleged that “US steel companies should be owned by Americans,” is expected to block the operation before leaving the White House.
Last December, Nippon Steel reached an agreement for the acquisition of the American company that was founded 122 years ago, although since then the operation has been quarantined by the US authorities.
The Japanese company also offered to invest another 2.7 billion in modernizing its plants (which are spread throughout the country), guaranteeing jobs and the majority presence of Americans in its management team and its Board of Directors.
The operation – which would create the third largest steel company in the world – has also been opposed by President-elect Donald Trump, who spoke out “totally against the once large and powerful US Steel being bought by a foreign company.”
They ask Nippon for guarantees
Likewise, the president of the United Steelworkers (USW) union, David McCall, is also against the transaction, who has asked Nippon Steel to guarantee the “protection of jobs,” as he believes that the Japanese company will “abandon” the company.
For his part, the company’s CEO, David Burritt, told The Wall Street Journal in September that if the sale was not authorized, U.S. Steel would have to close plants and eliminate thousands of jobs in the country.
The acquisition, designed to compete against Chinese rivals, would create the third largest steel mill in the world.
After the news was announced, US Steel shares on the Wall Street stock exchange fell by 3% in operations after closing.
International
Armed forces target illegal mines in Northern Ecuador with bombing raids
Ecuador’s Armed Forces carried out an operation on Monday — including airstrikes — against illegal mining in the town of Buenos Aires, in the country’s north, Defense Minister Gian Carlo Loffredo reported.
The mountainous, gold-rich area has been a hotspot for illegal mining since 2017, located in the Andean province of Imbabura.
In 2019, former president Lenín Moreno deployed around 2,400 soldiers to the region in an attempt to curb the illegal activity. “The operation began with mortar fire, followed by gunfire and bombing runs by Supertucano aircraft,” Loffredo said in a video released by the Defense Ministry.
He added that the operation would continue on Tuesday with patrols across the area to locate possible members of “irregular armed groups that may have crossed from the Colombian border.”
The Armed Forces stated on X that the intervention focused on the “complete elimination of multiple illegal mining tunnels” in the areas known as Mina Nueva and Mina Vieja.
The operation coincided with the deployment of a military and police convoy into Imbabura, which has been the epicenter of protests against President Daniel Noboa since September 22, following his decision to scrap the diesel subsidy.
International
Caracas shuts embassy in Oslo without explanation following Machado’s Nobel win
Venezuela has announced the closure of its embassy in Norway, just days after opposition leader María Corina Machado was awarded the Nobel Peace Prize. The Norwegian Ministry of Foreign Affairs said the Venezuelan diplomatic mission provided no explanation for its decision on Monday.
“It is regrettable,” a ministry spokesperson said. “Despite our differences on several issues, Norway wishes to keep the dialogue with Venezuela open and will continue to work in that direction.” The ministry also emphasized that the Nobel Committee operates entirely independently from the Norwegian government.
In its announcement, the Nobel Committee stated that Machado met the criteria established by Alfred Nobel, “embodying the hope for a different future, where the fundamental rights of Venezuelans are heard.”
International
Sheinbaum: Urgent to restore access to towns cut off by heavy rains
Thousands of military personnel and civilians in Mexico worked tirelessly on Tuesday to clear roads blocked by the torrential rains of recent days, which have left more than 300 communities cut off across central and eastern regions of the country. Authorities also launched mass fumigation efforts in several affected areas to prevent the spread of dengue fever.
The official death toll remains at 64, though dozens of people are still missing. President Claudia Sheinbaumacknowledged that the government does not yet know the full situation in many of the isolated villages, which range in population from 500 to 1,000 inhabitants.
“The reopening of roads is one of the greatest urgencies,” Sheinbaum said. “It’s essential to guarantee air bridges, food supplies, clean water, and a proper census of the isolated communities so we can determine the condition of every person living there.”
Private construction companies are also assisting the effort with heavy machinery and technical support to help reopen highways and reconnect rural areas.
Armed forces target illegal mines in Northern Ecuador with bombing raids
Caracas shuts embassy in Oslo without explanation following Machado’s Nobel win
Sheinbaum: Urgent to restore access to towns cut off by heavy rains
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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