Latest news with #steelmanufacturing
Bloomberg
30-07-2025
- Business
- Bloomberg
Rep. Mackenzie on Constituents' Reaction to Tax Bill
Bloomberg Markets Balance of Power Rep. Ryan Mackenzie (R-PA) discusses what he is hearing from his constituents as he is back in Pennsylvania for the August Recess. He talks about how his constituents feel about the Trump Tax Bill, tariffs, and if steel manufacturing could come back to Allentown, Pennsylvania. He speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's 'Balance of Power.' (Source: Bloomberg)
Yahoo
25-06-2025
- Business
- Yahoo
Steelmaker Nucor restores operations, confirms limited data breach
This story was originally published on Cybersecurity Dive. To receive daily news and insights, subscribe to our free daily Cybersecurity Dive newsletter. Nucor, the leading steel manufacturer in the U.S., said it has restored operations following a hack in May that compromised a limited amount of information. The company — which produces roughly a quarter of America's raw steel — believes it has evicted the hackers from its systems and does not expect the incident to have a material impact on its financial performance or operations, it said in a filing with the Securities and Exchange Commission. Nucor said the incident temporarily limited its ability to access certain functions and some of its facilities. The manufacturer worked with external forensic experts to investigate and recover from the attack. During the response process, the company temporarily took its systems offline and restored certain data from backup files, according to the filing. The company has worked with outside experts to reinforce its IT systems to prevent a future attack. The Charlotte, N.C.-based company said last week that it expected to report earnings of between $2.55 and $2.65 per share in the second fiscal quarter, which ends July 5. The company expects earnings to increase across all three of its operating segments, with the biggest rise in the steel-mills business due to higher average selling prices across its sheet and plate mills. Nucor did not disclose any specific information about the financial impact of the May cyberattack. The company expects to report earnings on July 28 and hold a conference call the following day. 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
Free Malaysia Today
31-05-2025
- Business
- Free Malaysia Today
Esteel's RM31bil project a vote of confidence in Sabah's future, says Hajiji
Chief minister Hajiji Noor said Sabah is committed to creating a stable and investor-friendly environment to drive economic growth. (Bernama pic) PETALING JAYA : Sabah chief minister Hajiji Noor has hailed the RM31 billion three-phased project by Esteel Enterprise Sabah Sdn Bhd as a major milestone for the state's economic development. He said it would generate jobs, foster innovation, and support local businesses. Speaking at the launch of the project's Phase 1 at the Sabah International Convention Centre yesterday, Hajiji thanked Prime Minister Anwar Ibrahim and Singapore-based Green Esteel Group for backing Sabah's industrial ambitions. 'This project is not merely a financial commitment, but it is a vote of your confidence in our vision and in our capacity to foster growth and development,' he said in his speech. Hajiji added that the steel manufacturing plant, located in the Sipitang Oil and Gas Industrial Park (Sogip), is expected to create a wide range of 'ripple effects' in sectors such as green technology and local entrepreneurship. He stressed that job creation must benefit Sabahans first and urged industry players to prioritise the training and upskilling of the local workforce. 'I want all industry players to invest in the training and development of our local workforce and to comply with this fundamental requirement as a core principle of our commitment to local development,' he said. Hajiji also credited more than a dozen federal and state agencies for their role in fast-tracking approvals for the Esteel project and assured the group that their 'trust is well-placed'. 'Together, we have the potential to achieve remarkable outcomes, leading the way for growth and development,' he said. Hajiji reaffirmed that Sabah will maintain its investor-friendly stance, noting that the state has implemented policies to attract more investors. 'We are committed to creating a conducive environment that nurtures investments and fosters collaboration,' he said, adding that besides Sogip, the Kota Kinabalu Industrial Park has seen increased tenancy over the past four years. Due to high investor demand, Hajiji said the state government had approved three new industrial parks in Kota Belud, Beaufort, and Kudat under its Blue Economy initiative.
