Equity benchmark indices rebounded sharply on Wednesday after an eight-day slump, with the Sensex jumping 715.69 points, helped by buying in bank and financial stocks after the RBI left key interest rates unchanged and revised upward its growth estimates for the current fiscal to 6.8 per cent.Photograph: Francis Mascarenhas/ReutersThe 30-share BSE Sensex jumped 715.69 points or 0.89 per cent to settle at 80,983.31.During the day, it surged 800.81 points or 0.99 per cent to 81,068.43. The 50-share NSE Nifty ...

By Julia Payne BRUSSELS (Reuters) -The European Commission will propose cutting steel import quotas by nearly half and hiking duties on volumes above those levels to 50% in line with tariffs imposed by the U.S. and Canada, a source briefed on details told Reuters on Wednesday. The measures will be part of a new package for the steel sector set to be officially unveiled on October 7. Stephane Sejourne, the Commission's executive vice president for industrial strategy, briefed steel associations on Wednesd ...

Trade Policy - The European Union will impose restrictions on steel imports [1] Industry Challenges - Local steel producers are facing difficulties due to overcapacity and trade barriers [1]

Core Viewpoint - Cleveland-Cliffs is currently experiencing financial losses due to a downturn in the steel industry, which presents a potential buying opportunity for investors willing to take on risk [1][5][12] Group 1: Company Performance - Cleveland-Cliffs shares have decreased approximately 60% from their 2022 highs, reflecting the cyclical nature of the steel industry [1][2] - In Q2 2025, Cleveland-Cliffs reported an adjusted loss of $0.50 per share, an improvement from the adjusted loss of $0.92 in Q1 2025 [5] - The company is implementing cost-cutting measures and has idled steel mills to navigate the current weak market conditions [5] Group 2: Industry Dynamics - The steel industry is highly cyclical, with demand for steel products typically increasing during economic booms and decreasing during recessions [3][4] - Steel companies' income statements are closely tied to economic activity, making their stock prices volatile [4] - The cyclical nature of the industry suggests that buying opportunities may arise when the market is down, as prices are likely to recover [4][11] Group 3: Comparison with Competitors - Cleveland-Cliffs utilizes blast furnace technology, which is more volatile and requires high operational capacity, making it less flexible compared to competitors like Nucor, which uses electric arc mini-mills [8][9] - Nucor has reported earnings of $2.60 per share in Q2 2025 and has maintained a consistent dividend increase for over 50 years, making it a more stable option for conservative investors [9][10] - While Cleveland-Cliffs may offer higher potential upside during recoveries, Nucor is likely to be a safer investment during downturns due to its operational flexibility [12]

All right. A little while ago, I sat down with US trade representative, Mr. . Jameson Greer, talking about Hollywood movies and a whole bunch of other things.Please take a listen. All right. Great pleasure.Joining us now is US Trade Representative Jameson Greer. Jameson, thank you, old friend. Appreciate this very much.Uh you spoke to the New York Economics Club today. I put in a plug for that. Uh let me begin with the latest hottest uh tariff and that is anything outside of u Hollywood 100% tariff.Uh now t ...

Company Overview - ArcelorMittal is one of the world's leading integrated steel and mining companies, operating in 60 countries with primary steelmaking operations in 15 countries [9] - It is the largest steel producer in Europe and among the largest in the Americas, with a growing presence in Asia through its joint venture AM/NS India [9] - In 2024, ArcelorMittal generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel, and 42.4 million tonnes of iron ore [9] - The company's purpose is to produce smarter steels that are cleaner, stronger, reusable, and made using innovative processes that use less energy and emit significantly less carbon [9] Financial Activity - ArcelorMittal announced the issuance of €650,000,000 3.250 per cent notes due 30 September 2030 [1] - The proceeds from this issuance will be used for general corporate purposes and refinancing of existing indebtedness [1]

South Africa’s state-owned Industrial Development Corporation (IDC) is evaluating a R8.5bn ($491m) bid to acquire ArcelorMittal's operations in the country, reported Bloomberg, citing sources familiar with the matter. If the bid is successful, it would end almost two years of negotiations with the state-owned company, the government’s trade and industry department, and steelmaker ArcelorMittal. This potential acquisition by IDC could bring global steel companies to South Africa, as the corporation plans ...

Core Viewpoint - Nippon Steel has acquired a 30% stake in Canada's Kami iron ore project to secure high-grade ore supplies for direct reduced iron production [1][2][3] Group 1: Investment Details - Nippon Steel paid C$42 million ($30.2 million) for its stake, with a total project consideration of C$150 million [1] - The remaining C$108 million will be contingent on a further investment decision following a feasibility study [1][2] - The joint venture, named Kami Iron Mine Partnership, will conduct a feasibility study for the project located in Newfoundland and Labrador [2] Group 2: Strategic Importance - The iron ore from the Kami project is characterized as a high-grade, scarce resource suitable for producing direct reduced iron [2] - Direct reduced iron is essential for producing high-grade steel using large electric arc furnaces, which Nippon Steel plans to build to lower carbon emissions [3] - Nippon Steel has been actively expanding its investments in coking coal and iron ore mines to ensure a stable supply of critical raw materials [3]

As reported by Bloomberg, Raghavan directly approached Citi chief executive Jane Fraser in 2023, when she was struggling to find a leader for investment banking. He pitched himself as the one who could revive the division. Within days, he was on a flight to New York and sealed the deal.Since his arrival, Citi has gained ground in investment banking. The bank has advised on marquee transactions such as Johnson & Johnson’s $14.6 billion acquisition of Intra-Cellular Therapies and Nippon Steel’s $15 billion t ...

SAULT STE. MARIE, Ontario, Sept. 29, 2025 (GLOBE NEWSWIRE) -- The United Steelworkers union (USW) is responding to today’s announcement that the federal government will provide a $400 million loan through the Large Enterprise Tariff Loan facility and the Ontario government’s additional $100 million in financial support to Algoma Steel. While the union welcomes the extension of liquidity to support Algoma in the short term, it stresses the need for public investments to come with transparent commitments to p ...