admin

New York (AFP) – U.S. Steel said Sunday it had rejected a $7.3 billion takeover bid from rival Cleveland-Cliffs and was reviewing “strategic alternatives” after receiving several unsolicited offers. Pittsburgh-based US Steel said it declined the offer because Cleveland Cliff was pushing it to accept the terms without allowing it to conduct proper due diligence. … Read more

(Bloomberg) — Stock indices fell broadly across Asia in early trade after Wall Street capped a weak week on a decline, and as slumping real estate prices in China continued to dampen market sentiment. Most Read from Bloomberg Stocks rose as trading resumed in Japan after a holiday. South Korean and Australian stocks fell to … Read more

(Bloomberg) — Economists at Goldman Sachs expect the Federal Reserve to start cutting interest rates by the end of next June, with a gradual quarterly pace of cuts starting from that point. Most Read from Bloomberg “The cuts in our forecasts are driven by this desire to normalize the money rate from a constrained level … Read more

Dow Jones futures rose slightly Sunday night, along with futures for the S&P 500 and Nasdaq futures. X The stock market rally had a mixed week, but action was negative overall, with renewed Treasury yields and mixed earnings weighing on growth. The Nasdaq fell through the 50-day and 10-week moving averages last week. Tesla (TSLA) … Read more

(Bloomberg) — The United States Steel Corporation has begun a formal review of strategic alternatives after receiving “multiple unsolicited” proposals, a sign that the years-long transition may finally be bearing fruit. Most Read from Bloomberg Chief Executive Officer David Porritt said Sunday in a statement that the proposals ranged from acquiring certain production assets to … Read more

Commercial mortgages are a segment of the debt market that is under severe pressure from rising rates and tightening financial conditions.Afton Almaraz / Getty A storm of public and private debt problems is heading into the market. Warning signs showed up in increasing credit card balances, late payments, and other indicators. Here are the signs … Read more

(Bloomberg) — The United States Steel Corporation has begun a formal review of strategic alternatives as it rejected an offer to sell itself to rival Cleveland-Cliffs Inc. Most Read from Bloomberg Ohio-based Cliffs said Sunday it offered to pay $17.50 in cash and 1,023 of its own shares for each US Steel share. That means … Read more