Steel Deal & Russia

Heyo, reader! We hope you’re having a good Saturday morning!

2️⃣ This Morning’s Two Reports:

• 🏭 U.S. Steel’s $14.9 Billion Sale to Nippon Steel Gains Shareholder Nod

• 🌍 Russia Bolsters Military Presence in Niger

📊 Market Snapshot

• DOW: 🔽 1.24% (37,983.24)

• S&P 500: 🔽 1.46% (5,123.41)

• NASDAQ: 🔽 1.62% (16,175.09)

• BTC: 🔽 0.25% (67,064.90)

• ETH: 🔽 2.50% (3,228.85)

📎 Market Clips

• US consumer confidence dips significantly amid escalating inflation concerns

• IEA revises oil demand growth projections downward due to rising prices amid heightened Middle East tensions

_{*Stock numbers as of market close, cryptocurrency as of 8:10pm EST yesterday. Source for Market Clips.}

First Report

🏭 U.S. Steel’s $14.9 Billion Sale to Nippon Steel Gains Shareholder Nod

Shareholders of U.S. Steel have overwhelmingly approved its $14.9 billion acquisition by Japan's Nippon Steel, with over 98% in favor. The deal, priced at $55 per share, faces growing scrutiny from U.S. politicians and regulators amid concerns over national security and job security. This includes strong objections from labor unions and an antitrust investigation by the U.S. Justice Department, reflecting widespread unease about the foreign takeover of a storied American firm. 📋🔎

TL;DR ⏳: Despite approval, political and regulatory hurdles suggest a delayed closure for the takeover, initially expected by mid-2024.

Second Report

🌍 Russia Bolsters Military Presence in Niger

Russia has escalated its involvement in Niger, delivering sophisticated anti-aircraft defense systems and deploying 100 military instructors to train Nigerien forces. This move follows the end of a military agreement between Niger and the US and comes as part of broader Russian efforts to increase its influence in Africa's Sahel region, which is already grappling with political instability and insurgent groups. 🇷🇺🪖

TL;DR ⏳: Russia's strategic push into Niger signals a significant shift in military alliances in the Sahel, amid waning Western influence.

⚡ Quick Hits

1. 🗣 Trump praises Speaker Mike Johnson’s performance despite Marjorie Taylor Greene’s threats of removal

2. 🌏 Billionaire CEOs attend White House state dinner with Japanese prime minister

3. 🏛 House approves revamped surveillance legislation following initial rejection

4. 🚚 Stolen 18-wheeler collision at Texas DPS office results in one fatality and multiple injuries

5. 📚 Biden cancels an additional $7.4 billion in student loan debt

6. 🔍 Argentine judiciary implicates Iran and Hezbollah in 1994 Jewish center bombing

7. 🇮🇱 Biden anticipates an imminent Iranian attack on Israel

8. 🏗 Restoration of Notre-Dame on track five years post-fire

9. 🚀 US accuses China of providing missile and drone components to Russia

10. 💊 Pharmacists alert to unprecedented drug shortages

Games

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