Migrants who survived capsize off African coast begin returning to Pakistan
ISLAMABAD — A group of migrants who survived the capsizing of a boat off the coast of West Africa earlier this month began returning to Pakistan on Thursday, the country's Ministry of Foreign Affairs said.
Some 50 people died when a boat carrying them to the Canary Islands capsized near Dakhla, a Moroccan-controlled port city in the disputed Western Sahara, including 44 Pakistanis, according to Pakistani President Asif Ali Zardari and Walking Borders, a Spain-based migrant rights group.
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The Hill
an hour ago
- The Hill
Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms
WASHINGTON (AP) — President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a 'national security agreement' submitted by the federal government. Trump's order didn't detail the terms of the national security agreement. But U.S. Steel and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving the U.S. government a 'golden share' — essentially veto power to ensure the country's national security interests are protected. 'We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership,' the two companies said. 'This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again.' The companies have completed a U.S. Department of Justice review and received all necessary regulatory approvals, the statement said. 'The partnership is expected to be finalized promptly,' the statement said. The companies offered few details on how the golden share would work and what investments would be made. Trump said Thursday that he would as president have 'total control' of what U.S. Steel did as part of the investment. Trump said then that the deal would preserve '51% ownership by Americans.' The Japan-based steelmaker had been offering nearly $15 billion to purchase the Pittsburgh-based U.S. Steel in a merger that had been delayed on national security concerns starting during Joe Biden's presidency. Trump opposed the purchase while campaigning for the White House, yet he expressed optimism in working out an arrangement once in office. 'We have a golden share, which I control,' said Trump, although it was unclear what he meant by suggesting that the federal government would determine what U.S. Steel does as a company. Trump added that he was 'a little concerned' about what presidents other than him would do with their golden share, 'but that gives you total control.' Still, Nippon Steel has never said it was backing off its bid to buy and control U.S. Steel as a wholly owned subsidiary. The proposed merger had been under review by the Committee on Foreign Investment in the United States, or CFIUS, during the Trump and Biden administrations. The order signed Friday by Trump said the CFIUS review provided 'credible evidence' that Nippon Steel 'might take action that threatens to impair the national security of the United States,' but such risks might be 'adequately mitigated' by approving the proposed national security agreement. The order doesn't detail the perceived national security risk and only provides a timeline for the national security agreement. The White House declined to provide details on the terms of the agreement. The order said the draft agreement was submitted to U.S. Steel and Nippon Steel on Friday. The two companies must successfully execute the agreement as decided by the Treasury Department and other federal agencies that are part CFIUS by the closing date of the transaction. Trump reserves the authority to issue further actions regarding the investment as part of the order he signed on Friday. ___ Associated Press writer Marc Levy in Harrisburg, Pa., contributed to this report.
Yahoo
an hour ago
- Yahoo
Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms
WASHINGTON (AP) — President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a 'national security agreement' submitted by the federal government. Trump's order didn't detail the terms of the national security agreement. But U.S. Steel and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving the U.S. government a 'golden share" — essentially veto power to ensure the country's national security interests are protected. 'We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership," the two companies said. "This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again.' The companies have completed a U.S. Department of Justice review and received all necessary regulatory approvals, the statement said. 'The partnership is expected to be finalized promptly,' the statement said. The companies offered few details on how the golden share would work and what investments would be made. Trump said Thursday that he would as president have 'total control' of what U.S. Steel did as part of the investment. Trump said then that the deal would preserve '51% ownership by Americans.' The Japan-based steelmaker had been offering nearly $15 billion to purchase the Pittsburgh-based U.S. Steel in a merger that had been delayed on national security concerns starting during Joe Biden's presidency. Trump opposed the purchase while campaigning for the White House, yet he expressed optimism in working out an arrangement once in office. 'We have a golden share, which I control,' said Trump, although it was unclear what he meant by suggesting that the federal government would determine what U.S. Steel does as a company. Trump added that he was 'a little concerned' about what presidents other than him would do with their golden share, 'but that gives you total control.' Still, Nippon Steel has never said it was backing off its bid to buy and control U.S. Steel as a wholly owned subsidiary. The proposed merger had been under review by the Committee on Foreign Investment in the United States, or CFIUS, during the Trump and Biden administrations. The order signed Friday by Trump said the CFIUS review provided 'credible evidence' that Nippon Steel 'might take action that threatens to impair the national security of the United States,' but such risks might be 'adequately mitigated' by approving the proposed national security agreement. The order doesn't detail the perceived national security risk and only provides a timeline for the national security agreement. The White House declined to provide details on the terms of the agreement. The order said the draft agreement was submitted to U.S. Steel and Nippon Steel on Friday. The two companies must successfully execute the agreement as decided by the Treasury Department and other federal agencies that are part CFIUS by the closing date of the transaction. Trump reserves the authority to issue further actions regarding the investment as part of the order he signed on Friday. ___ Associated Press writer Marc Levy in Harrisburg, Pa., contributed to this report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox Sports
2 hours ago
- Fox Sports
Why NCAA athletes might wait over a year for share of $2.8B settlement
The attorney who negotiated the $2.8 billion legal settlement for the NCAA said Friday that thousands of former athletes due to receive damages could have to wait months or maybe more than a year to get paid while appeals play out. Rakesh Kilaru, who served as the NCAA's lead counsel for the House settlement that was approved last week, told The Associated Press an appeal on Title IX grounds filed this week will hold up payments due to around 390,000 athletes who signed on to the class-action settlement. He said he has seen appeals take up to 18 months in the California-based federal court where this case is playing out, though that isn't necessarily what he expects. "I will say that we, and I'm sure the plaintiffs, are going to push," Kilaru said. A schedule filed this week calls for briefs related to the appeal to be filed by Oct. 3. Kilaru doesn't expect anyone on the defendant or plaintiff side to file for extensions in the case "because every day the appeal goes on is a day damages don't go to the student-athletes." He said while the appeal is ongoing, the NCAA will pay the money into a fund that will be ready to go when needed. The other critical parts of the settlement — the part that allows each school to share up to $20.5 million in revenue with current players and set up an enforcement arm to regulate it — are in effect regardless of appeals. "I think everyone thought it was important and good for this new structure to start working because it does have a lot of benefits for students," Kilaru said. "But it's very common for damages to be delayed in this way for the simple reason that you don't want to make payments to people that you can't recover" if the appeal is successful. A group of eight female athletes filed the appeal. Their attorney, Ashlyn Hare, said they supported settlement of the case "but not an inaccurate one that violates federal law." "The calculation of past damages is based on an error that ignores Title IX and deprives female athletes of $1.1 billion," Hare said. Kilaru agreed with plaintiff attorneys who have argued that Title IX violations are outside the scope of the lawsuit. Other objections to the settlement came from athletes who said they were damaged by roster limits set by the terms. One attorney representing a group of those objectors, Steven Molo, said they were reviewing Wilken's decision and exploring options. Reporting by The Associated Press. Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, follow leagues, teams and players to receive a personalized newsletter daily ! FOLLOW Follow your favorites to personalize your FOX Sports experience College Football College Basketball Women's College Basketball recommended Get more from College Football Follow your favorites to get information about games, news and more
