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Joe Biden expected to block $15bn takeover of US Steel

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Joe Biden expected to block bn takeover of US Steel

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President Joe Biden is expected to block a $15bn deal by Japan’s Nippon Steel to buy US Steel, ending months of frantic lobbying and delivering a setback to Washington’s relationship with its closest Asia-Pacific ally.

In one of his final actions in government, Biden — long opposed to the takeover — is expected to announce as soon as Friday his decision to kill the proposed acquisition of the iconic American steelmaker, according to two people familiar with the matter.

One of those people said the White House had yet to notify Nippon Steel about the decision.

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The president’s expected move comes after an inter-agency investment screening review, known as the Committee on Foreign Investment in the US (Cfius), failed to reach consensus by a December 23 deadline on whether the acquisition posed a national security threat.

Two people close to the situation said Nippon Steel was likely to take legal action against the outgoing president’s ruling.

One person said such an action could, during the discovery process, reveal the extent to which the decision had been led by politics rather than national security concerns. The process would also expose the limitations of the Cfius process and its vulnerability to political interests.

Nippon Steel declined to comment.

President-elect Donald Trump had also threatened to quash the deal and vowed to protect the Pittsburgh-based company through a mix of tariffs and tax incentives.

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The year-long saga’s conclusion marks the failure of an audacious gambit by the Japanese group that soon morphed into a sensitive political issue in an election year. It also represents a significant departure from the US’s long-standing open investment environment.

Biden’s decision risks undercutting four years of work to reassure allies such as Japan of their special relationship with the US amid strategic competition with China and a shift towards protectionism, support for trade unions and an “America first” sentiment in US politics.

US and Japanese government officials fear broader ramifications for investment and M&A by Japan and other partners in America and implications for the solidity of the US-Japan alliance.

Takahiro Mori, vice-president at Nippon Steel, spearheaded last-ditch efforts by the Japanese steelmaker to win over government officials and union members in Washington and Pennsylvania.

Those efforts included a new proposal this week that offered the government a veto over any reductions in steelmaking capacity at the majority of Nippon Steel’s plants in the US, adding to an array of other assurances on jobs and investment.

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The gesture followed concerns from Cfius that US Steel could lower domestic steel production under Japanese ownership, affecting industries of national importance.

However, those moves were of little avail, even as some of Biden’s senior advisers tried to talk him out of obstructing the deal.

Its death marks a victory for Katherine Tai, the US trade representative, and David McCall, president of the United Steelworkers union, who were the deal’s two staunchest opponents.

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Olympic Sprinter Charged in Confrontation With Miami Beach Police

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Olympic Sprinter Charged in Confrontation With Miami Beach Police

Fred Kerley, a two-time Olympic medalist sprinter for the United States and one of the fastest runners in the world, was arrested late Thursday night in Miami Beach, Fla., after an altercation with the police in South Beach, a gathering place for tourists that is known for its nightlife.

Mr. Kerley, who won a silver medal at the 2020 Tokyo Games in the men’s 100-meter dash and a bronze in the same event at the 2024 Paris Games, was charged with battery of a police officer, resisting arrest and disorderly conduct after arguing and then scuffling with officers just off the area’s main thoroughfare, Ocean Drive. The battery charge, a felony, carries a maximum sentence of five years in prison.

Mr. Kerley, who is 29 and from Taylor, Texas, also faces two other felony charges, for robbery and domestic violence in an unrelated case from last May. The police said they had been looking for him in connection with that matter. Those charges include allegations that he choked his wife and stole her phone.

Yale M. Sanford, a lawyer representing Mr. Kerley in this week’s arrest, said the police were in the wrong because a simple conversation with Mr. Kerley could have de-escalated the situation.

“It’s an overstep and, you can even say, an unreasonable use of force that could have been avoided,” Mr. Sanford said.

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Richard L. Cooper, a lawyer representing Mr. Kerley in the domestic violence case, said those charges were “completely unsubstantiated,” and that it was his understanding that the case was not being pursued. The charges had been presented unexpectedly by the authorities after the altercation with the police in South Beach, he said. Mr. Kerley and his wife are separated and are seeking a divorce, the lawyer said.

The police defended their actions, saying that Mr. Kerley had interfered with an active crime scene at a tense time in the country, when police in Miami Beach were on high alert in the days after a van rammed a crowd in New Orleans, killing 14 people, and a Cybertruck exploded outside a Trump Hotel in Las Vegas, killing one.

On Thursday night, officers were investigating a man who had parked a car in a spot reserved for emergency vehicles near Ocean Drive, said Officer Christopher Bess, a spokesman for the Miami Beach Police Department. Mr. Kerley diverted their attention, Officer Bess said.

“We just saw an aggressive male impeding the crime scene,” Officer Bess said of Mr. Kerley.

While the police were dealing with the man who parked in the emergency area, Mr. Kerley approached the police, saying he was concerned about his own car, which was parked nearby, according to Officer Bess and an arrest affidavit. The police described Mr. Kerley as having “an aggressive demeanor,” the affidavit said.

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One officer’s body camera video shows shaky glimpses of a chaotic altercation, which appeared to escalate when an officer used his arm to block Mr. Kerley from approaching, and Mr. Kerley batted it away. Several officers then wrestled Mr. Kerley to the ground and tried to handcuff him while he repeatedly attempted to climb to his feet, according to the video and police documents.

One officer “delivered multiple hammer fists toward the defendant’s upper head area and several elbows toward his upper back area,” according to the arrest affidavit, and the police body camera shows officers striking Mr. Kerley as they try to subdue him.

A girlfriend of Mr. Kerley appears in the background of the police video, holding up her phone to videotape while repeatedly calling out, “Stop! Stop!” At one point, she says, “He’s an athlete, please do not mess with him.” Later, she refers to him as a “U.S.A. athlete” and says, “Stop, he didn’t doing anything.”

Just over a minute into the struggle, several police officers step away from Mr. Kerley, letting him rise to his feet before using a stun gun on him, the video shows. He then collapses onto the street.

On the body camera video, Mr. Kerley can be heard saying, “I’m not resisting, get off me,” and “Get off my legs. I need my legs.”

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Several times he called the officers weak and cursed at them. He also said they were going to jail for putting their hands on him.

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Oil tanker boss says UN maritime body ‘sleeping’ over dark fleet threat

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Oil tanker boss says UN maritime body ‘sleeping’ over dark fleet threat

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The boss of the world’s largest publicly listed oil tanker operator has accused the UN maritime rule-setting body of “sleeping behind the wheel” over the growing dark fleet of unregulated vessels, saying it is “only a question of time” before a significant disaster takes place.

Lars Barstad, chief executive of Frontline, also criticised European governments for failing to enforce rules meant to curtail trading in Russian oil, saying they were worried about forcing up energy prices.

The number of dark fleet vessels has grown to about a fifth of the world fleet after Russian-linked owners bought up hundreds of ageing ships to circumvent western countries’ curbs on the country’s oil trade.

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The potential for disaster was illustrated in July when the Hafnia Nile, a tanker operated by Singapore-based Hafnia, collided with the Ceres I, a dark fleet vessel carrying Iranian oil, in waters off Malaysia.

According to a subsequent US Treasury sanctions notice against the Ceres I’s owners, at the time of the collision the vessel’s radar system was broadcasting an inaccurate location — a common tactic for dark fleet ships trying to conceal their activities.

Dark fleet vessels, which carry oil from Iran and Venezuela as well as Russia, are generally the property of offshore companies whose ownership is unclear and often lack adequate insurance. They are frequently registered under the flags of countries that do little to enforce rules about regular safety inspections.

Lars Barstad said he was ‘very, very concerned’ about the growth of the dark fleet © Mats Finnerud

Barstad said he was “very, very concerned” about the growth of the dark fleet, which he said had incentivised a number of “lawbreaking operators” to make an “insane amount of money”.

He added that the International Maritime Organization (IMO), the UN body, was doing too little to ensure enforcement of its safety and environmental rules.

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“All these vessels . . . are trading outside the IMO framework,” Barstad said. “They have been sleeping behind the wheel now for quite some time in respect of tankers.”

There had been reports of other, unconfirmed incidents besides the Ceres I collision, Barstad added. “I’m very surprised we’ve not had more incidents like this,” he said. “I think it’s only a question of time until we get a big one.”

A vessel such as the Ceres I — which was carrying 2mn barrels of crude oil — could be split in two in a future incident, he said.

“That would be in the environment a bigger problem,” Barstad said. “It can happen any day — and then the biggest problem is that, if that happens, nobody will know who actually owns the ship or the cargo.”

Shipowners that complied with the regulations, such as Frontline, were facing disadvantages because so many others were operating with lower costs in unregulated dark fleets, Barstad added. He said that reflected politicians’ lack of willingness to enforce the sanctions.

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“Politicians have decided not to take the political risks,” Barstad said, adding that he thought many feared higher energy prices if oil from Russia, Iran and Venezuela were truly excluded from international markets.

There have been persistent suggestions that countries such as Denmark — which controls the entrance to the Baltic — and countries by the English Channel should inspect and take into custody tankers sailing past their coasts without proper insurance.

Barstad declined to single out particular states but said: “It seems extremely halfhearted the way enforcement has been done. A tough position should be taken if one is serious about this.”

The IMO said in response to Barstad’s criticism that its general assembly passed a resolution in late 2023 calling on member states to take tougher action over fraudulent registration of ships and to step up inspections of vessels in port.

It also said member states had the responsibility to ensure that vessels flying their flag followed the required rules and to ensure ships visiting their ports did so.

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A storm will bring heavy snow and dangerous ice from the Plains to the East Coast

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A storm will bring heavy snow and dangerous ice from the Plains to the East Coast

The National Weather Service’s Winter Storm Severity Index shows areas predicted to be impacted by the storm.

NWS Weather Prediction Center/Screenshot by NPR


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NWS Weather Prediction Center/Screenshot by NPR

The first weekend of 2025 is having the coldest air of the season, according to the National Weather Service. The first significant winter storm of the year will impact 62 million people through the weekend and into Monday.

Heavy snow, ice, rain and severe thunderstorms will be unleashed from the Plains to the East Coast. While snow and ice has been limited to the northern states this winter, the upcoming storm will impact areas less prone to winter weather.

“The major winter storm will bring significant disruptions to the Central Plains by late Saturday, spreading to the Ohio Valley on Sunday,” the NWS said.

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Travel delays are likely as the storm is forecast to reach the mid-Atlantic by Sunday night. Severe thunderstorms are expected in areas with warmer temperatures. The storm could also impact Texas and Mississippi, which are still recovering from last month’s deadly storms.

States are gearing up for heavy snowfall and hazardous conditions 

A nasty mix of sleet, snow and freezing rain is expected to disrupt travel and daily life in the central United States, according to the NWS Winter Storm Severity Index.

The storm will begin with a deep surge of moist air moving north out of the Gulf of Mexico, which will spread rain and snow over the Plains. As it strengthens and expands, it will track east and spread into the Mississippi Valley and parts of the Midwest on Sunday morning, and reach the East Coast by Sunday night and Monday morning.

Officials have already begun preparing for the worst. On Friday, Missouri Gov. Mike Parson put the National Guard on standby, and Gov. Glenn Youngkin of Virginia declared a state of emergency. Youngkin has urged people to avoid traveling on Sunday.

“I’m encouraging all Virginians, visitors, and travelers to stay alert, monitor the weather forecast, and prepare now for any potential impacts,” Youngkin said in a statement.

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States of emergency have also been declared in Kentucky and Arkansas. In Kentucky, Gov. Andy Beshear said in a press conference that emergency warming centers will open on Sunday and people should stay off the roads.

Major cities such as Chicago, St. Louis and Washington, D.C., have also begun pretreating their roads and preparing warming centers.

For those needing to rebook flights due to the storms, American Airlines, Delta, Southwest and United all said they were waiving certain change fees at some locations.

Near-blizzard conditions are expected in the Central Plains 

Heavy snowfall and wind gusts of over 40 mph could create blizzard conditions in the Central Plains by Sunday morning. The region from central Kansas to Indiana may get at least 8 inches of snow, with potential lingering snow showers on Monday.

The NWS Weather Prediction Center said that the most extreme conditions will likely be in places running along the Interstate 70 Corridor, which passes through St. Louis and Indianapolis.

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There is also “significant icing potential” mainly in parts of Kansas, Missouri and Kentucky this weekend, according to forecasters. Icing is when rain freezes on contact with the ground. It can also affect cars and car windows — essentially any surface outside.

A thin layer of ice can cause dangerous road conditions for vehicles and pedestrians. Thicker layers of ice can cause power outages and make roads impassable. In 2023, a January ice storm stretching from Texas to Tennessee left hundreds of thousands without power.

Thunderstorms expected in warmer climates

States too warm for snow will also experience extreme weather. Severe thunderstorms are likely on Sunday in parts of Louisiana, Arkansas and Mississippi, according to the NWS Storm Prediction Center.

The Southeast is expected to see the heaviest rainfall, and the storm could cause flooding. There is also an enhanced risk of thunderstorms in parts of the lower Mississippi Valley on Sunday.

This storm is expected to pass by late Monday. It will exit the East Coast on Monday night and fully diminish its impact overnight. But temperatures are expected to plunge on Tuesday. The eastern two-thirds of the U.S. will see temperatures 30 degrees below normal, and the frigid air could last until mid-January.

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