Biden rejects U.S. Steel-Nippon Steel deal
CBSN
President Biden announced Friday that he is blocking the $15 billion proposal by Japan's Nippon Steel to buy U.S. Steel after a government panel recently failed to reach consensus on the possible national security risks of the deal.
Mr. Biden long opposed the deal and was waiting for a report on the merger to be issued by the Committee on Foreign Investment in the United States, known as CFIUS, to announce his final decision. The interagency committee, chaired by Treasury Secretary Janet Yellen, reviews such deals with an eye toward potential national security risks, and can block sales or force changes in the terms to protect national security. CFIUS said on Dec. 23 that it was unable to reach a consensus on the deal, leaving it to Mr. Biden.
"It is my solemn responsibility as president to ensure that, now and long into the future, America has a strong domestically owned and operated steel industry that can continue to power our national sources of strength at home and abroad; and it is a fulfillment of that responsibility to block foreign ownership of this vital American company," the president said in a statement Friday announcing his decision to block the deal. "U.S. Steel will remain a proud American company – one that's American-owned, American-operated, by American union steelworkers – the best in the world."
A federal appeals court on Friday endorsed the Trump administration's policy of holding broad groups of immigration detainees without access to bond hearings, a major legal victory for President Trump and his deportation crackdown.
Pentagon says it's cutting ties with "woke" Harvard, discontinuing military training and fellowships
The Pentagon said Friday it is cutting ties with Harvard University, ending all military training, fellowships and certificate programs with the Ivy League institution. In:
President Trump late Friday addressed a video posted to his social media account that included a racist depiction of Barack and Michelle Obama as apes, telling reporters he looked at the beginning of the now-deleted video but didn't see the part that showed the former president and first lady.
The disappearance of "Today" show co-host Savannah Guthrie's mother, Nancy Guthrie, includes a tantalizing clue: an apparent ransom note that demanded payment in bitcoin. Edited by Alain Sherter In:
Sunday's Super Bowl is expected to see a record $1.76 billion wagered with sportsbooks. Emboldened by loosened restrictions from federal regulators, a newer form of betting — prediction markets — will also be looking to cash in on the night. In:
Washington — Republican lawmakers condemned President Trump on Friday for sharing a video that portrayed former President Barack Obama and former first lady Michelle Obama as apes. Kristin Brown contributed to this report.
Some college programs whose graduates earn less than workers with only a high school diploma could lose access to federal student loans under the Republicans' "big, beautiful bill" act, a change that could impact about 40,000 U.S. college students, according to a recent analysis. Edited by Alain Sherter In:
A federal judge on Thursday ordered the U.S. government to return three migrant families affected by the family separation policy during President Trump's first administration and then deported under his second, declaring the deportations "unlawful."
President Trump's Republican Party has gambled on redrawing Democratic-held congressional districts in Texas, Missouri and North Carolina to help boost conservatives' chances at holding on to a narrow House majority in the 2026 midterm elections. This out of the ordinary mid-decade approach, however, may end up costing Republicans as many as four congressional seats in Virginia. In:
Washington — President Trump is expected to sign an executive order Friday that quadruples the amount of beef imported into the U.S. from Argentina under a new trade agreement with the South American country, according to a senior administration official.
A New Mexico grand jury indicted actor Timothy Busfield on four counts of criminal sexual contact of a child, the Bernalillo County District Attorney's office said Friday. In:
The Emmy Award-winning "CBS News Sunday Morning" is broadcast on CBS Sundays beginning at 9:00 a.m. ET. "Sunday Morning" also streams on the CBS News app beginning at 11:00 a.m. ET. (Download it here.)
The apparent abduction of Nancy Guthrie, the mother of "Today" show co-host Savannah Guthrie, has brought back painful memories for one American family who dealt with a similar experience 24 years ago. In: