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
U.S. Senate Rejects Budget, Bringing Government Closer to Shutdown Amid DHS Dispute
The U.S. Senate voted on Thursday against a budget proposal in a move aimed at pressuring changes at the Department of Homeland Security (DHS), following the killing of two civilians during a deployment of immigration agents in Minneapolis.
All Senate Democrats and seven Republican lawmakers voted against the bill, which requires 60 votes to advance, pushing the country closer to a partial government shutdown that would cut funding for several agencies, including the Pentagon and the Department of Health.
The rejection came as Senate leaders and the White House continue negotiations on a separate funding package for DHS that would allow reforms to the agency. Proposed measures include banning Immigration and Customs Enforcement (ICE) agents from wearing face coverings and requiring them to use body-worn cameras during operations.
The vote took place just hours after President Donald Trump said he was “close” to reaching an agreement with Democrats and did not believe the federal government would face another shutdown, following last year’s record stoppage.
“I don’t think the Democrats want a shutdown either, so we’ll work in a bipartisan way to avoid it. Hopefully, there will be no government shutdown. We’re working on that right now,” Trump said during a Cabinet meeting at the White House.
International
Trump Says Putin Agreed to One-Week Halt in Attacks on Ukraine Amid Extreme Cold
U.S. President Donald Trump said on Thursday that he secured a commitment from Russian President Vladimir Putinto halt attacks against Ukraine for one week, citing extreme weather conditions affecting the region.
“Because of the extreme cold (…) I personally asked Putin not to attack Kyiv or other cities and towns for a week. And he agreed. He was very pleasant,” Trump said during a Cabinet meeting broadcast by the White House.
Trump acknowledged that several advisers had questioned the decision to make the call.
“A lot of people told me not to waste the call because they wouldn’t agree. And he accepted. And we’re very happy they did, because they don’t need missiles hitting their towns and cities,” the president said.
According to Trump, Ukrainian authorities reacted with surprise to the announcement but welcomed the possibility of a temporary ceasefire.
“It’s extraordinarily cold, record cold (…) They say they’ve never experienced cold like this,” he added.
Ukrainian President Volodymyr Zelensky later commented on the announcement, expressing hope that the agreement would be honored.
International
Storm Kristin Kills Five in Portugal, Leaves Nearly 500,000 Without Power
Storm Kristin, which battered Portugal with heavy rain and strong winds early Wednesday, has left at least five people dead, while nearly half a million residents remained without electricity as of Thursday, according to updated figures from authorities.
The revised death toll was confirmed to AFP by a spokesperson for the National Emergency and Civil Protection Authority (ANPEC). On Wednesday, the agency had reported four fatalities.
Meanwhile, E-Redes, the country’s electricity distribution network operator, said that around 450,000 customers were still without power, particularly in central Portugal.
Emergency services responded to approximately 1,500 incidents between midnight and 8:00 a.m. local time on Wednesday, as the storm caused widespread disruptions.
The Portuguese government described Kristin as an “extreme weather event” that inflicted significant damage across several regions of the country. At the height of the storm, as many as 850,000 households and institutions lost electricity during the early hours of Wednesday.
Several municipalities ordered the closure of schools, many of which remained shut on Thursday due to ongoing adverse conditions.
Ricardo Costa, regional deputy commander of the Leiria Fire Brigade, said residents continue to seek assistance as rainfall persists.
“Even though the rain is not extremely intense, it is causing extensive damage to homes,” he noted.
In Figueira da Foz, a coastal city in central Portugal, strong winds toppled a giant Ferris wheel, underscoring the severity of the storm.
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