Latest news with #AmericanCompany
Bloomberg
2 days ago
- Business
- Bloomberg
Starbucks Joins China Price War With Discounts for Tea Drinks
Starbucks Corp. on Monday announced price cuts for a slew of its tea-based beverages at its stores across China, as the American coffee chain takes a more aggressive approach to revive sales at its second-biggest market. Starbucks will reduce prices by 5 yuan (70 cents) on average across more than a dozen Frappuccino, iced tea and tea latte options in its latest campaign to appeal to Chinese consumers for non-coffee offerings during summer, according to a statement posted on the company's official account on Chinese social media WeChat on Monday .
CBS News
6 days ago
- Business
- CBS News
U.S. Steel says it will remain "American" in Nippon partnership. What that means is uncertain.
With the final details of the ownership structure for the not-yet-finalized partnership between U.S. Steel and Japan-based Nippon Steel still up in the air, it's an open question of whether the company will be "American" in a technical sense. Some local leaders disagree on how to define what exactly an "American" company is. President Trump, who said he has final say on a deal, first announced the partnership by saying U.S. Steel would remain in America, with U.S. Steel then coming out with a statement saying the company would remain "American." Mr. Trump said months ago that he would allow Nippon to invest in U.S. Steel, but he opposed a purchase. "America to me is owning the company, having ownership," said Cheryl Freedman, a Pleasant Hills Borough Council member. "I feel that being an American-owned company is important." She attended Mr. Trump's rally last Friday at U.S. Steel's Irvin Works in West Mifflin, which is not far from Pleasant Hills, and said she initially felt excited as she heard about the investments that were announced. She said she started to feel less comfortable once she started hearing words around her that she didn't expect after the rally. Specifically, she spoke with one individual whom she thought should know the details. "That person said 'purchase.' And I said, 'What do you mean purchase?' And, 'Well, we're not real sure yet. We don't have the details,'" she recalled their conversation going. To make her feel comfortable, she wants to hear what the ownership structure will be. She hopes Americans will own at least 51% of the company. West Mifflin Mayor Chris Kelly, who has been a vocal proponent of a deal with Nippon Steel, said that while he's unsure if the new U.S. Steel would be American in a technical sense, it doesn't have to be for it to be an American company. KDKA asked him to address the concerns people have about the yet-to-be announced or finalized ownership structure. "The mining is going to be done by Americans. The melting is going to be done by Americans. The manufacturing is going to be done by Americans," Kelly said. "Is that how you see what it means to be an American company?" KDKA asked Mayor Kelly. "Absolutely," he responded. He believes a deal with Nippon Steel will save thousands of jobs, along with the steelmaking legacy in Pittsburgh. "Let me make this easy," Kelly said. "It's going to be called U.S. Steel. That's one. It's going to be located in the city of Pittsburgh, headquarters. ... The guaranteed no layoffs, no plant closings and the furnaces are going to operate at capacity for 10 years. We win on that." The known details come from Pennsylvania U.S. Senator Dave McCormick and state Senator Kim Ward. They have said Americans would have a majority on the U.S. Steel board and what McCormick called a "golden share." "The golden shares is the oversight of the United States government," Kelly said. "They're going to be part of the decision-making as far as national security." The details from McCormick and Ward echo what Mr. Trump said at last week's rally. "Most importantly, U.S. Steel will continue to be controlled by the USA. Otherwise, I wouldn't have done the deal," Mr. Trump said. Freedman is, however, looking for more than control; she wants ownership. "I would like to see our companies, our American companies, remain owned by America," Freedman said. United Steelworkers International leadership has said it also wants more details, saying that partnering with Nippon is risky. Most steelworkers and Mon Valley leaders KDKA-TV has spoken with don't care what the ownership structure is; they just want whatever will preserve jobs.
Al Arabiya
27-05-2025
- General
- Al Arabiya
Embattled Israeli PM acknowledges ‘loss of control momentarily' at Gaza aid center
1 min read Israel's prime minister acknowledged there was a 'loss of control momentarily' on Tuesday when crowds of Palestinians rushed into a new aid center in Gaza, but a senior military official said the distribution was nonetheless 'a success.' 'We worked out a plan with our American friends to have controlled distribution sites where an American company would distribute the food to Palestinian families... There was some loss of control momentarily. Happily, we brought it back under control,' Prime Minister Benjamin Netanyahu said in a speech on Tuesday. A senior Israeli military official told AFP that 'today's distribution of aid by American providers was a success.'
Egypt Today
17-02-2025
- Business
- Egypt Today
Apache CEO lauds Egypt's recent economic achievements
CAIRO – 17 February 2025: President Abdel Fattah El Sisi met on Monday with Chief Executive Officer of American Apache Corporation, John J Christmann, on sidelines of the Egypt Energy Show (EGYPES) 2025. Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the President was briefed on the American Company's views regarding its expansion plans in Egypt. President Sisi expressed Egypt's appreciation of the size and scope of Apache Corporation's activities and investments in the country, as well as its significant contributions to the exploration and production operations of gas and petroleum. This boosts this vital sector and enables it to play a fundamental role in economic development efforts by turning Egypt into a key hub for energy production and trade in the East Mediterranean. The President emphasized the crucial need to enhance Apache Corporation's activities and investments in Egypt to maximize the utilization of the country's resources. Apache Corporation CEO, stressed that he valued meeting with the President and confirmed the importance of Apache Corporation's relations with Egypt within the framework of the company's programs at the international level. He lauded the achievements Egypt has made recently in terms of economic growth, which was reflected in the continuous development in the field of energy production and diversification of its sources. This is in addition to improving the country's infrastructure in general and the oil and gas sector in particular, as well as Egypt's expansion in regional cooperation projects to connect with the countries of the region, with the aim of transporting and liquefying gas, which will have a positive economic impact and return.
