Taking Uber to the S&P 500, I'm David Brancacho. First, we're just getting word that

US Steel is being bought by Nippon Steel of Japan in a deal worth nearly 15 billion dollars.

U.S. X, based in Pittsburgh, was formed in

1901 in part through a merger involving Andrew Carnegie's steel company.

In the U.S. only New Corps steel is bigger. And this morning we have

global shipping and several recent missile attacks on cargo ships in the Red Sea. The

attacks have come amid the rising tensions in the region given

the Israel-Hamas War. Several shippers are now steering clear of this key trade

route. Marketplace of Nova-Safo is here with us with more.

Yeah David at least two major shipping firms are avoiding this narrow waterway.

It's called the Bob Almondeb Strait.

It's along the route to the Suez Canal, which connects the Middle East and Asia with the West.

A lot of stuff is transported through here.

The problem is that Yemen's Huti rebels are firing missiles and armed drones at containerships along the route, they say in solidarity with

Palestinians in Gaza.

All right, so what's the alternative if you don't go through this important straight? Well, the alternative is a much longer route. Here's

Mark O for Joni to explain it. He's with the industry group called the

Institute of Export and International Trade. If the ships don't go through

the straits, can't use Suez the alternative is to divert

South to go round the Cape of Good Hope which adds over 3,500 nautical miles and a delay of up to two weeks.

All of that then cascades into further delays because ships are in the wrong place,

containers are in the wrong place, ports get congested.

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