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Wall Street Breakfast

Biden to rule on US Steel takeover

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 24 December 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Biden to decide on US Steel takeover after CFIUS deadlocks. (00:22) Rocket Companies stock drops after CFPB sues Rocket Mortgages. (01:53) Abbott in settlement with DexCom over continuous glucose monitors. (02:37)

Episode transcripts seekingalpha.com/wsb.

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Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

0:08.0

Good morning. Today is Tuesday, December 24th. I'm Julie Morgan. Siffy is deadlocks on the U.S. Steel Deal.

0:16.2

The CFPB sues rocket mortgage and Abbott settles with Dexcom.

0:22.1

The Committee on Foreign Investment in the United States has deadlocked on its review of the

0:26.9

acquisition of U.S. steel by Japan's Nippon Steel. This means the deal is referred to President

0:32.8

Biden, who has said previously that he opposed the transaction. Biden now has 15 days from the referral to announce a decision,

0:40.9

meaning the matter will be resolved before Donald Trump takes office.

0:44.7

The president-elect has also said he would block the merger.

0:48.4

Nippon still said it urges Biden to reflect on everything they've done

0:52.4

to address any national security concerns that

0:55.3

have been raised and the significant commitments they've made to grow U.S. Steel, protect American

1:00.7

jobs and strengthen the entire American steel industry. U.S. Steel said the deal forges an

1:06.6

alliance in steel to combat the competitive threat from China. The agreement first announced a year ago

1:12.9

has been staunchly opposed by the United Steel Workers Union, although some local union officials

1:19.2

and lawmakers have called on Biden to allow the deal to proceed. It's time to reimagine the way you

1:26.1

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1:29.7

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1:34.6

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1:39.2

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1:43.8

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1:46.2

It's where AI meets human ingenuity and you get the best of both worlds with just one

1:51.1

simple click. Rocket companies fell 4% in Monday trading after the Consumer Financial Protection Bureau

...

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