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Asahi Shimbun
24-05-2025
- Business
- Asahi Shimbun
Trump says US Steel will keep HQ in Pittsburgh in a sign he'll approve bid by Japan-based Nippon
FILE - The United States Steel logo is pictured outside the headquarters building in downtown Pittsburgh, April 26, 2010. (AP Photo/Gene J. Puskar, File) WASHINGTON--President Donald Trump said Friday that U.S. Steel will keep its headquarters in Pittsburgh as part of what he called a 'planned partnership' that seemed to signal that he'll approve a bid by Japan-based Nippon Steel to make a big investment in the iconic American steelmaker, if not buy it outright. Still, Trump's statement left it vague as to whether he is approving Nippon Steel's bid after he vowed repeatedly to block the deal to prevent U.S. Steel from being foreign-owned. More recently, Trump suggested that Nippon Steel would invest in U.S. Steel, not buy it, and one union official suggested Friday that the federal government will have a role in the company's management going forward. But investors seemed to take Trump's statement as a sign that he's approving some sort of merger, sharply pushing up U.S. Steel's shares, and the companies issued approving statements. Nippon Steel said the partnership is a 'game changer — for U.S. Steel and all of its stakeholders, including the American steel industry, and the broader American manufacturing base.' U.S. Steel said it 'will remain American, and we will grow bigger and stronger through a partnership with Nippon Steel that brings massive investment, new technologies and thousands of jobs over the next four years." Nippon Steel's nearly $15 billion bid to buy U.S. Steel was blocked by former President Joe Biden on his way out of office and, after Trump became president, subject to another national security review by the Committee on Foreign Investment in the United States. In his statement Friday, Trump said that 'after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh.' What Trump called a 'planned partnership' will add $14 billion to the U.S. economy, he said, although it wasn't clear what the terms of the deal would be or who would control U.S. Steel under the arrangement. Neither company explained Friday how the partnership would be structured. Japan's chief tariff negotiator Ryosei Akazawa told reporters Friday that he was closely watching the development. He said Nippon Steel has made a proposal that could win support from U.S. Steel and make a good investment for both Japan and the U.S. Josh Spoores, the Pennsylvania-based head of steel Americas analysis for commodity researcher CRU, said that, from what he's seeing, 'this 'partnership' is a green light for the acquisition.' Shares of U.S. Steel jumped 21% on the news, and continued rising in aftermarket trading. U. S. Steel's board and stockholders approved Nippon Steel's bid last year. It has been opposed by the United Steelworkers union. The union had no immediate comment Friday. A union official who defied the United Steelworkers' leadership to support Nippon Steel's bid said Friday that the federal government could take on a major role in the deal. 'It's sounds like the deal's done,'' said Jason Zugai, vice president of the United Steelworkers union local at U.S. Steel's Irvin finishing plant near Pittsburgh. Zugai said he was 'relieved, happy and thankful.'' He hadn't seen anything on paper but, he said, his understanding was that Nippon 'will make all the profit'' and the federal government will have 'a golden chair'' that allows it to veto any plans to idle or shut down U.S. Steel plants. Keeping U.S. Steel's headquarters had always been part of Nippon Steel's bid to buy it. To sweeten the deal, Nippon Steel had offered up a $2.7 billion commitment to upgrade U.S. Steel's two blast furnaces and pledged that it wouldn't import steel slabs that would compete with the facilities. Nippon Steel also had pledged not to conduct layoffs or plant closings during the term of the existing labor agreement and to protect the best interests of U.S. Steel in trade matters. U.S. Steel's CEO David Burritt warned last September that blocking Nippon Steel's bid would mean U.S. Steel would 'largely pivot away' from investing in its two blast furnaces — one just outside Pittsburgh and one in Gary, Indiana — and it would raise 'serious questions' about remaining headquartered in Pittsburgh. As recently as December, Trump said he was "totally against the once great and powerful U.S. Steel being bought by a foreign company.' Then in February, Trump suggested that Nippon Steel wouldn't buy U.S. Steel, as it had planned, but that it would instead invest in U.S. Steel. Last month, Trump ordered a new national security review of Nippon Steel's proposed bid.
Business Mayor
22-05-2025
- Business
- Business Mayor
Comcast bringing wider internet access to Town of Bedford
FILE- A Comcast truck is shown on Jan. 24, 2019, in Pittsburgh. (AP Photo/Gene J. Puskar, File) (Gene J. Puskar, Copyright 2019 The Associated Press. All rights reserved.) BEDFORD, Va. – Comcast announced on Wednesday that they will be starting construction in Bedford to bring high-speed internet to over 4,500 homes in the area. This is part of a wider investment in western and Southwest Virginia to assist in bringing Xfinity and Comcast Business to the region. 'We applaud Comcast for bolstering its investment in our area and bringing a new choice for fast, reliable Internet to the Town of Bedford. This significant investment will help ensure residents and businesses have the connectivity solutions to thrive in their personal and professional lives.' C.G. Stanley, Mayor, Town of Bedford The following areas are also getting expanded network access, according to Comcast: Christiansburg, VA : Xfinity and Comcast Business services are available to more than 13,700 homes and businesses in Christiansburg. Lynchburg, VA : Xfinity and Comcast Business services are available to more than 12,000 additional homes and businesses across the Lynchburg area, including in the City of Lynchburg, Campbell County and Forest. Radford, VA : Construction is underway to connect nearly 10,000 homes and businesses in Radford, with services already available to some residents. Strasburg, VA: Xfinity and Comcast Business services are available to more than 3,300 homes and businesses in Strasburg. 'We are excited to deepen our investment in Virginia and bring our full suite of Xfinity and Comcast Business services to thousands of additional residents and small businesses in the Town of Bedford. Our local team is excited to help residents and businesses find the products and services that meet their unique needs – from the best WiFi experience in and out of the home to our Xfinity Mobile and Comcast Business Mobile services that deliver incredible savings when bundled with Internet.' Ray Roundtree, Senior Vice President of Comcast's Beltway Region Copyright 2025 by WSLS 10 – All rights reserved. READ SOURCE
Yahoo
21-05-2025
- Sport
- Yahoo
Bailey Falter stays hot with 7 strong innings as Pirates top Reds 1-0 to end 4-game skid
Cincinnati Reds pitcher Nick Martinez delivers during the fist inning of a baseball game against the Pittsburgh Pirates in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Pittsburgh Pirates' Bryan Reynolds singles off Cincinnati Reds pitcher Nick Martinez, driving in a run, during the sixth inning of a baseball game in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Pittsburgh Pirates' Oneil Cruz scores from second on a single by Bryan Reynolds off Cincinnati Reds pitcher Nick Martinez during the sixth inning of a baseball game in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Pittsburgh Pirates pitcher Bailey Falter delivers during the first inning of a baseball game against the Cincinnati Reds in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Pittsburgh Pirates pitcher Bailey Falter delivers during the first inning of a baseball game against the Cincinnati Reds in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Cincinnati Reds pitcher Nick Martinez delivers during the fist inning of a baseball game against the Pittsburgh Pirates in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Pittsburgh Pirates' Bryan Reynolds singles off Cincinnati Reds pitcher Nick Martinez, driving in a run, during the sixth inning of a baseball game in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Pittsburgh Pirates' Oneil Cruz scores from second on a single by Bryan Reynolds off Cincinnati Reds pitcher Nick Martinez during the sixth inning of a baseball game in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) Pittsburgh Pirates pitcher Bailey Falter delivers during the first inning of a baseball game against the Cincinnati Reds in Pittsburgh, Tuesday, May 20, 2025. (AP Photo/Gene J. Puskar) PITTSBURGH (AP) — Bailey Falter gave up four hits and had five strikeouts through seven innings and the Pittsburgh Pirates ended a four-game losing streak with a 1-0 win over the Cincinnati Reds on Tuesday night. Falter (3-3) has surrendered one run in 23 2/3 innings over his past four starts, including none in 16 2/3 in his past three. Advertisement David Bednar pitched the ninth for his fourth save. Bryan Reynolds lined an RBI single into right to put the Pirates ahead in the sixth. Oneil Cruz walked and stole second for the second time in his first three plate appearances. Nick Martinez (2-5), who faced two batters over the minimum through the first five innings, limited the damage in the sixth by getting Joey Bart to ground into a double play to end his night with one run allowed on four hits and two walks. Falter nearly found immediate trouble when TJ Friedl led off the first with a triple off the Clemente Wall in right. Friedl was stranded when Falter forced Santiago Espinal to ground out, struck out Elly De La Cruz and forced Austin Hays to pop up to first. Advertisement Espinal later started the fourth with a double to left. Falter responded again, retiring the next three batters capped with a strikeout of Spencer Steer. Key moment Reynolds' sixth-inning single made sure Cruz's second steal didn't go to waste after he walked, stole second and went to third on a wild pitch just to be stranded in the first. Key stat The Reds had scored 26 runs on a five-game winning streak, averaging 5.2 per game. The Pirates failed to score more than four runs for a 25th straight game. Up next Reds RHP Brady Singer (5-2, 5.01 ERA) will take the mound in the series finale Wednesday opposite Pirates LHP Andrew Heaney (2-3, 3.02). ___ AP MLB:
Yahoo
20-05-2025
- Business
- Yahoo
Rapidly expanding school voucher programs pinch state budgets
An elementary school math teacher instructs a fifth grade class at a private school in Wheeling, Costs are skyrocketing as states rapidly expand school voucher programs, which divert public funds to pay for private school tuition. (Photo by Gene J. Puskar/The Associated Press) In submitting her updated budget proposal in March, Arizona Gov. Katie Hobbs lamented the rising costs of the state's school vouchers program that directs public dollars to pay private school tuition. Characterizing vouchers as an 'entitlement program,' Hobbs said the state could spend more than $1 billion subsidizing private education in the upcoming fiscal year. The Democratic governor said those expenses could crowd out other budget priorities, including disability programs and pay raises for firefighters and state troopers. It's a dilemma that some budget experts fear will become more common nationwide as the costs of school choice measures mount across the states, reaching billions of dollars each year. 'School vouchers are increasingly eating up state budgets in a way that I don't think is sustainable long term,' said Whitney Tucker, director of state fiscal policy research at the Center on Budget and Policy Priorities, a think tank that advocates for left-leaning tax policies. Vouchers and scholarship programs, which use taxpayer money to cover private school tuition, are part of the wider school choice movement that also includes charter schools and other alternatives to public schools. Opponents have long warned about vouchers draining resources from public education as students move from public schools to private ones. But research into several programs has shown many voucher recipients already were enrolled in private schools. That means universal vouchers could drive up costs by creating two parallel education systems — both funded by taxpayers. School vouchers are increasingly eating up state budgets in a way that I don't think is sustainable long term. – Whitney Tucker, director of state fiscal policy research at the Center on Budget and Policy Priorities In Arizona, state officials reported most private school students receiving vouchers in the first two years of the expanded program were not previously enrolled in public schools. In fiscal year 2024, more than half the state's 75,000 voucher recipients were previously enrolled in private schools or were being homeschooled. 'Vouchers don't shift costs — they add costs,' Joshua Cowen, a professor of education policy at Michigan State University who studies the issue, recently told Stateline. 'Most voucher recipients were already in private schools, meaning states are paying for education they previously didn't have to fund.' Voucher proponents, though, say those figures can be misleading. Arizona, like other states with recent expansions, previously had more modest voucher programs. So some kids who were already enrolled in private schools could have already been receiving state subsidies. In addition to increasing competition, supporters say the programs can actually save taxpayer dollars by delivering education at a lower overall cost than traditional public schools. One thing is certain: With a record number of students receiving subsidies to attend private schools, vouchers are quickly creating budget concerns for some state leaders. The rising costs of school choice measures come after years of deep cuts to income taxes in many states, leaving them with less money to spend. An end of pandemic-era aid and potential looming cuts to federal support also have created widespread uncertainty about state budgets. Trump's school choice push adds to momentum in statehouses 'We're seeing a number of things that are creating a sort of perfect storm from a fiscal perspective in the states,' said Tucker, of the Center on Budget and Policy Priorities. Last year, Arizona leaders waded through an estimated $1.3 billion budget shortfall. Budget experts said the voucher program was responsible for hundreds of millions of that deficit. A new universal voucher program in Texas is expected to cost $1 billion over its next two-year budget cycle — a figure that could balloon to nearly $5 billion by 2030, according to a legislative fiscal note. Earlier this year, Wyoming Republican Gov. Mark Gordon signed a bill expanding the state's voucher program. But last week, he acknowledged his own 'substantial concerns' about the state's ability to fund vouchers and its public education obligations under the constitution. 'I think the legislature's got a very tall task to understand how they're going to be able to fund all of these things,' he said in an interview with WyoFile. Voucher proponents, who have been active at the state level for years, are gaining new momentum with support from President Donald Trump and congressional Republicans. In January, Trump ordered federal agencies to allow states, tribes and military families to access federal money for private K-12 education through education savings accounts, voucher programs or tax credits. Last week, Republicans on the House Ways and Means Committee voted in favor of making $20 billion available over the next four years for a federal school voucher program. Part of broader work on a bill to extend Trump's 2017 tax cuts, the measure would need a simple majority in the House and the Senate to pass. Sweeping private school voucher program tucked inside US House tax bill Martin Lueken, the director of the Fiscal Research and Education Center at EdChoice, a nonprofit that advocates for school choice measures, argues school choice measures can actually deliver savings to taxpayers. Lueken said vouchers are not to blame for state budget woes. He said public school systems for years have increased spending faster than inflation. And he noted that school choice measures make up a small share of overall state spending — nationally about 0.3% of total state expenditures in states with school choice, he said. 'Public schooling remains one of the largest line items in state budgets,' he said in an interview. 'They are still the dominant provider of K-12 education, and certainly looking at the education pie, they still receive the lion's share. 'It's not a choice problem. I would say that it's a problem with the status quo and the public school system,' he said. Washington, D.C., and 35 states offer some school choice programs, according to EdChoice. That includes 18 states with voucher programs so expansive that virtually all students can participate regardless of income. But Lueken said framing vouchers as a new entitlement program is misleading. That's because all students, even the wealthiest, have always been entitled to a public education — whether they've chosen to attend free public schools or private ones that charge tuition. 'At the end of the day, the thing that matters most above dollars are students and families,' he said. 'Research is clear that competition works. Public schools have responded in very positive ways when they are faced with increased competitive pressure from choice programs.' Public school advocates say funding both private and public schools is untenable. Some states reexamine school discipline as Trump order paves go-ahead In Wisconsin, Republican lawmakers are considering a major voucher expansion that would alter the funding structure for vouchers, potentially putting more strain on the state's general fund. The state spent about $629 million on its four voucher programs during the 2024-2025 school year, according to the Wisconsin Association of School Business Officials, which represents employees in school district finance, human resources and leadership. The association warns proposed legislation could exacerbate problems with the 'unaffordable parallel school systems' in place now by shifting more private schooling costs from parents of those students to state taxpayers at large. Such expansion 'could create the conditions for even greater funding challenges for Wisconsin's traditional public schools and the state budget as a whole,' the association's research director wrote in a paper on the issue. In Arizona, Hobbs originally sought to eliminate the universal voucher program — a nonstarter in the Republican-controlled legislature. She has since proposed shrinking the program by placing income limits that would disqualify the state's wealthiest families. That idea also faced Republican opposition. Legislators are now pushing to enshrine access to vouchers in the state constitution. Marisol Garcia, president of the Arizona Education Association, the state's 20,000-member teachers union, noted that vouchers and public education funds are both sourced from the general fund. 'So it almost immediately started to impact public services,' she said of the universal voucher program. While the union says vouchers have led to cutbacks of important resources such as counselors in public schools, Garcia said the sweeping program also affects the state's ability to fund other services like housing, transportation and health care. 'Every budget cycle becomes where can we cut in order to essentially feed this out-of-control program?' she said. Stateline reporter Kevin Hardy can be reached at khardy@ SUPPORT: YOU MAKE OUR WORK POSSIBLE
Toronto Sun
16-05-2025
- Entertainment
- Toronto Sun
Big streamers tell CRTC they should have more flexibility than broadcasters on CanCon
Published May 16, 2025 • 3 minute read The Netflix menu is shown on a screen in Pittsburgh, on Monday, Oct. 17, 2022. Photo by Gene J. Puskar / THE ASSOCIATED PRESS OTTAWA — A group representing big foreign streamers told a CRTC hearing Friday that those companies shouldn't be expected to fulfil the same responsibilities as traditional broadcasters when it comes to Canadian content. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The Motion Picture Association-Canada, which represents large streaming companies such as Netflix, Paramount, Disney and Amazon, said the CRTC should be flexible in modernizing its definition of Canadian content. The regulator is holding a two-week hearing on a new definition of Canadian content. The proceeding is part of its work to implement the Online Streaming Act — and it is bringing tensions between traditional players and large foreign streamers out in the open. It's also happening in the context of trade conflict with the United States. U.S. business groups and tech companies have warned the CRTC's efforts to change CanCon rules could worsen trade relations. Netflix, Paramount and Apple pulled out of the CRTC hearing on the first day. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. MPA-Canada argued Friday the Online Streaming Act, which updated broadcasting laws to capture online platforms, sets a lower standard for foreign online services. 'The contribution standard applied to Canadian broadcasters is much greater and reflects their existing obligations,' the group said in their opening remarks. 'This difference was intentional as Parliament rejected calls to impose the same standard because 'it is just not realistic' to expect foreign online undertakings operating in a global market to contribute in the same way as Canadian broadcasters.' While the hearing is focused on the definition of Canadian content, the CRTC has also heard debate about financial contributions. Earlier Friday, Corus urged the CRTC to require traditional broadcasters and online players to pay the same amount into the Canadian content system. The broadcaster, which owns Global TV, said both should contribute 20 per cent of their revenue toward Canadian content. This advertisement has not loaded yet, but your article continues below. Currently, large English-language broadcasters must contribute 30 per cent of revenues to Canadian programming, and the CRTC last year ordered streaming services to pay five per cent of their annual Canadian revenues to a fund devoted to producing Canadian content. The foreign streaming services are fighting that rule in court. MPA-Canada argued Friday online services 'should be allowed to fulfil their obligations through direct spending on production where that is consistent with their business model — not forced to pay into funds or into a program acquisition model that is inconsistent with how their services operate.' The big streamers have previously pointed to their existing spending in Canada in response to calls to bring them into the regulated system. But on Friday, MPA-Canada president Wendy Noss said that level of spending shouldn't be made mandatory through regulations. This advertisement has not loaded yet, but your article continues below. 'With respect, right now the services are unregulated. So … any investments that they're making in Canada, they're making by virtue of business decisions that make sense for their individual services,' she told commissioners. Earlier this month, U.S. President Donald Trump took aim at film productions made outside of the United States, threatening to hit them with a 100-per-cent tariff. The CRTC has issued a preliminary position on the definition of Canadian content, suggesting it keep the current system for determining whether content is considered Canadian by awarding points when Canadians occupy key creative positions in a production. The regulator is considering expanding that system to allow more creative positions to count toward the total points. One of the topics of debate in the hearing is the position of 'showrunner,' which has become more significant in recent years. MPA-Canada said that 'adding just a few positions to a more than 40-year-old list ignores today's modern production landscape.' It argued the CRTC shouldn't impose 'any mandatory positions, functions, or elements of a 'Canadian Program'' on global streaming services. Noss told commissioners the 'existing framework was set up for Canadian broadcasters who only made content in Canada, and only showcased that content in Canada, and that is just fundamentally different than the kind of high quality, international framework for those who are running global services.' Celebrity Toronto & GTA Columnists Toronto & GTA Toronto Maple Leafs
