(Reuters) -U.S. Steel said on Wednesday the board of arbitration has ruled in favor of Nippon Steel’s $14.9 billion buyout of the company, but the United Steelworkers union disagreed with the decision.The board, jointly selected by the company and the union to settle disputes, ruled that U.S. Steel had satisfied each of the conditions of the successorship clause of its basic labor agreement with the USW.”The arbitrators accepted at face-value Nippon Steel’s statement that it would assume the Basic Labor Agreement,” USW said.The union said the decision did not change its opposition to the deal.Japan-based Nippon Steel did not immediately…
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China just announced its biggest economic stimulus since the pandemic.Yahoo Finance’s Jared Blikre breaks down what the stimulus means for stocks and commodities worldwide:After the details of the monetary stimulus and support for the stock market were announced Tuesday by the People’s Bank of China (PBOC), the nation’s benchmark index, the CSI 300 (000300.SS), surged 4.3% — its largest jump since July 2020.The country’s currency, the renminbi (CNH=X), dropped 0.6% — the most since the Japanese yen imploded in early August.In the US, stocks rose, but the biggest effect was felt in commodities. Silver futures (SI=F) skyrocketed over 4.5% to…
Here is what you need to know and do to be a successful equity mutual fund investor. This also applies to the long-term direct equity (stock) investor.Understand the true nature of the stock market: All those stories of “compounding” that you have been fed do not pan out in real life. See: Don’t get fooled: Mutual funds have no compounding benefit!Equity investing is like claiming a staircase in which you cannot see the next step and do not know how high or low the next step will be! The next step could arrive the next day or take years. See: Are…
The early 1960s saw a surge in popularity for full-size cars, with models like the Impala and Bel Air dominating sales. The Impala, in particular, achieved immense success, reaching a milestone of one million units sold in 1965. Among these full-size offerings, the Pontiac Bonneville stood out as a luxurious and powerful choice. Equipped with a 389 cubic inch V8 engine and a four-barrel carburetor, it delivered a respectable 235 horsepower in its base configuration. However, Pontiac also offered more potent options, including a 421 cubic inch engine capable of producing 405 horsepower. The Bonneville featured in these photos is…
Former President Donald Trump ‘s latest tariff threats have put the spotlight back on the reshoring trend , or the return of companies’ overseas operations to the United States. On Tuesday, Trump vowed to slap 100% tariffs on “every single car coming across the Mexican border” if he wins the election against Vice President Kamala Harris . His comments followed his threat on Monday to impose a 200% tariff on John Deere if the agricultural equipment maker moved production to Mexico. During the campaign, he has also said he will impose new tariffs on China . “The re-election of former…
Image source: Getty Images It’s rare to find an investment that has a 12-month average price target indicating 45% growth based on reports from 10 analysts. However, that’s exactly the situation right now with one of the top UK stocks I know, Kainos (LSE:KNOS). The strength of this opportunity largely rests on the company’s lower earnings growth compared to historically. This has opened up a big price decline, which has led to what I think is a significant undervaluation. However, with growth likely to improve in 2025, I think big returns are on the horizon. Greedy when others are fearful…
How are companies approaching carbon credit procurement on their journeys to achieve net zero? That is the question at the heart of the just published Nasdaq’s Survey Report: 2024 Global Net Zero Pulse. The new report primarily polls corporate carbon credit buyers who report how they see the market for durable carbon removal credits and how it has changed over the past year, including carbon credits’ role in the net zero strategies of (primarily American) businesses. The survey found that respondents associate using carbon removal credits with being an integral part of their net zero strategy. 93% of carbon credit…
TORONTO, Sept. 25, 2024 /CNW/ – Elysium Investments Inc., a Toronto-based real estate investment and development firm, has acquired a prime 1.23-acre development site at 21-29 Oakmount Road & 26-36 Mountview Avenue, near High Park. This acquisition brings Elysium’s total investments to over $200 million in just over a year. The firm is nearing 4,000 housing units and more than $3 billion in developments.High Park Site (CNW Group/Elysium Investments Inc.)The project will include two high-rise residential towers on a shared podium, providing much-needed rental housing in a transit-connected area. Elysium is partnering with Hepsor, an Estonian real estate developer, and…
The panel “Investing with an Ownership Lens” at the 2024 Sorenson Impact SummitSorenson Impact Institute With the wealth gap expanding from generation to generation, economic mobility is even less attainable for many people than it was for their parents. The wealthiest 10% of the U.S. population owns around 90% of all assets, while 50% have few to no assets at all. The reality for millions of Americans is that there is nothing to pass down and no financial leg-up toward attaining middle-class markers, such as a college education or homeownership. “We have profound challenges to address economic inequality, but the…
PITTSBURGH — Nippon Steel has been given the go-ahead to close the pending sale of U.S. Steel.The United Steelworkers and U.S. Steel’s Board of Arbitration ruled that the company has satisfied each of the conditions of the successorship clause of its Basic Labor Agreement with the union and that no further action under the agreement is required to proceed with the sale’s closing.On Jan. 12, USW leadership filed a series of grievances alleging that the successorship clause in the BLA had not been satisfied. On Aug. 15, the Board of Arbitration heard evidence and arguments from both U. S. Steel…