us steel is based. us presidentjoe biden has long pledged that the iconic american company, headquartered in pittsburgh,main domestically owned and run. presidential nominees kamala harris and donald trump have also both committed to keep us steel american, though any move to block the deal could potentially be subject to litigation. proponents of nippon steel's bid say the us shouldn't reject a bid from a company based in an allied country such as japan — especially one that could create an entity with the scale to compete with china. if the deal is successfully blocked, the fate of us steel is unclear. the company warn that it would imperil thousands ofjobs if the deal falls through. it may also close plants and even move its headquarters out of pittsburgh. so what impact would a cancelled deal have on nippon steel? i asked our asia business reporter mariko oi, who's been following the story. well, i would say the impact on nippon steel will be far less compared to the impact on us steel, which as you have heard, has warned ofjob losses as well as possible factory closure. the japanese but he has been

us steel. the deal now looks in trouble whoever wins the us election with both donald trump and kamala harris pledging to keep us steel americann rally she held with president biden in pittsburgh, pennsylvania on monday. pennsylvania is home to us steel and a key swing state. president biden had already committed to blocking the japanese takeover. here's what she said. us steel is an historic american company, and it is vitalfor our nation to maintain vital for our nation to maintain strong vitalfor our nation to maintain strong american steel companies, and i couldn't agree more with president biden. us steel should remain american owned an american operated! so, is nippon steel giving up? apparently not. mariko oi has more on what they are saying. tell us more. as you said, it is not giving _ tell us more. as you said, it is not giving up. _ tell us more. as you said, it is not giving up. i— tell us more. as you said, it is not giving up. i think i i is not giving up. i think i said yesterday the deal seems a bit doomed, i stand corrected. yvonne steele on a huge pr push by saying if the purchase goes ahead, it is senior man

us steel is based. us presidentjoe biden has long pledged that the iconic american company, headquartered in pittsburgh,d remain domestically owned and run. presidential nominees kamala harris and donald trump have also both committed to keep us steel american, though any move to block the deal could potentially be subject to litigation. proponents of nippon steel's bid say the us shouldn't reject a bid from a company based in an allied country such as japan, especially one that could create an entity with the scale to compete with china. if the deal is successfully blocked, the fate of us steel is unclear. $1 million or more to 28% — instead of president biden�*s 39.6% proposal. the vice president told supporters in new hampshire she would also push for a $50,000 tax deduction for new small businesses — which would be a major tax breakfor them. we're on inflation watch this morning, with the latest figures due from thailand and the philippines. prices in the region seem to be tapering off, taking away some cost of living pressures. with the us federal reserve widely expected to lower borrowing cost thi

us steel corp by japan's nippon steel in her remarks. vice president harris said that us steel should remain in domestic hands, and commited to always have the backs of americanteel workers. that position mirrors that ofjoe biden, who said back in march that us steel corp should remain a domestically—owned american firm. us steel it should remain american owned and american operated. in other news — volkswagen is considering closing factories in germany to cut costs. it's an unprecedented move and sets up a showdown with powerful unions. the auto—maker — which employs around 680,000 staff — is struggling with its passenger car brand. profits are getting squeezed amid the transition to electric vehicles and a consumer spending slowdown. a four—day conference to attract foreign investment to russia is about to begin in the country's eastern most major city — vladivostok. the eastern economic forum is into its ninth year. last year, more than $40 billion in new agreements were signed, with 7,000 delegates in attendance. the largest contingents came from china, india and southeast asia. professor 0ng kian ming from taylor's university spoke to us about the import

us steel is a historic american company. it's vitalfor us steel is a historic american company. strong american steel companies and i couldn't agree more with presidentjoe biden, us steel should remain american owned and american operated. well, let's go to our asia business hub. mariko 0i is there. japan's nippon steel won't like to hear that.— to hear that. no, this deal does seem _ to hear that. no, this deal does seem a _ to hear that. no, this deal does seem a bit _ to hear that. no, this deal does seem a bit doomed, | to hear that. no, this deal - does seem a bit doomed, doesn't it? as you said, nippon steel offering to take it for $15 billion, but it's been facing a bipartisan political backlash, not only from vice—president kamala harris but also from donald trump. it's been facing opposition from the major labour union, united steelworkers. but us steel says it remains committed to the deal, saying that nippon steel is a long standing investor in the united states and the deal will enhance the industry's competitiveness and resilience against china. nippon steel has hire

$15 billion it offered is double of previous offered is double of previous offer that us steel had from its americanal, level and cliffs, and way more than us steel's market when the deal was announced last year. the deal received all regulatory approvals from outside the us and a green light from its shareholders as well, but as we have been saying, the timing is very tricky with us presidential election is looming and from president biden from the interview given mr trump has also vowed to block the deal, he could take it off the table altogether. 0k, thank you. i'm sure we will speak to you again soon as this continues. let's stay in the us, where it's turning out to be a rather dicey week on the markets as a slew of economic data gets published. on wednesday, the labor department released a report showing us job openings fell to a 3.5—year low injuly. analysts say this bolsters the case for an interest rate cut later this month. so, is the us economy holding up? i'm joined now by pete earle, senior economist at the american institute for economic research. lovely to see you. we also had the book

us steel is based. us presidentjoe biden has long pledged that the iconic american company, headquartered in pittsburgh,omestically owned and run. presidential nominees kamala harris and donald trump have also both committed to keep us steel american, though any move to block the deal could potentially be subject to litigation. proponents of nippon steel's bid say the us shouldn't reject a bid from a company based in an allied country such as japan — especially one that could create an entity with the scale to compete with china. if the deal is successfully blocked, the fate of us steel is unclear. the company warn that it would imperil thousands ofjobs if the deal falls through. it may also close plants and even move its headquarters out of pittsburgh. some of the day's at the knees now. —— other news now. the authorities in haiti have extended a state of emergency to the whole of the country, as the us secretary of state prepares to visit. antony blinken�*s visit comes as more than a million people remain without electricity in the capital of haiti, port—au—prince, after protesters stormed and vandali

us steel from a takeover bid. i could not agree more with president biden. us steel should remain americaned and american operated. and i will always have the back of america's have the back of america's steelworkers. it is all at risk because of donald _ it is all at risk because of donald trump with a stroke of a pen he — donald trump with a stroke of a pen he could get rid of all of this— pen he could get rid of all of this and _ pen he could get rid of all of this and you think this guy gives— this and you think this guy gives a _ this and you think this guy gives a damn about your pensions? he's not losing an instant — pensions? he's not losing an instant of— pensions? he's not losing an instant of sleep over it. do you — instant of sleep over it. do you think— instant of sleep over it. do you think he cares about the work— you think he cares about the work you _ you think he cares about the work you do every day how hard it is? _ work you do every day how hard it is? ., u, ., ., it is? you can find out more about the — it is? you can find out more about the us _ it is? you can find o

american owned. i could not agree more with president l agree more with president biden. us steelhould remain american owned and american operated. and i will always have the back of america �*s steelworkers. have the back of america 's steelworkers.— have the back of america 's steelworkers. , ., ., steelworkers. the showdown with owerful steelworkers. the showdown with powerful unions _ steelworkers. the showdown with powerful unions the _ steelworkers. the showdown with powerful unions the automaker i powerful unions the automaker which employs around 680,000 staff are struggling with passenger car brand. profits are getting squeezed amid the transition to electric vehicles, and a consumer spending slowdown. a four day conference to attract foreign investment to russia is about to begin in the country's most eastern major city — vladivostok. the eastern economic forum is into its ninth year. last year more than $40 billion in new agreements were signed, with 7,000 delegates in attendance. the largest contingents came from china, india and south east asia. professor 0ng kian min

building new bridges, roads, and transportation infrastructures all across the country, we are using american steel bret: in wisconsin baldwin is outperforming her democratic presidential counterpart vice president harris is ahead of former president trump as you can see by a little more than 1 percentage point in wisconsin. now, the outcome of the presidential race is expected to heavily influence most of the 34 seats up for election this time. republicans have an edge in our latest power ranchings which as you can see predicts 50 occupied senate seats while democrats have 47. there you see the three toss-ups. they could go either way. wisconsin is just one of the close races fox news will be tracking election night. republicans, as we have said many times, have a very favorable map when it comes to the senate, but democratic candidates are on top in several battleground states. so it's still anyone's game when it comes to senate control this cycle. >> bret: up next, our "common ground" segment looks at one way, maybe, we all might be able to start to lower the temperature in these heated politica

steel is at the heart of it. even uniting presidential arrivals us feel should remain american owned us. steel is being bought by japan. both opposed to pounds vehicle and still buying. pennsylvania is us steal, phonetic, $50000000000.00. president biden is also against the deal and could block it and it should remain totally mirror site thing. national security concerns, people are many here, wants you to happen, including us steal itself, which employees, $3000.00 people in the mountain valley and says, no deal could lead to thousands of jump, most is plus local councils. and we already have a, a tiny economy to lose. our biggest employer would be absolutely devastated. i'm many workers themselves. i cannot, she said that if it still doesn't go through a lot of concern for us to get a lot of them on now, this is about more than just to stay a lot. remember where we all pennsylvania is in the industrial north, a part of the country with a large, probably unionized workforce and union leaders all not funds of this the a lot. remember, unions make presidential endorsements, which can sways thousands. maybe millio

american steel companies. and i couldn't agree more with president biden, us steel should remain american owned and american paradef america still work. >> this morning. vice president kamala harris, joining the growing list of politician opposed to the sale of u.s. steel to a foreign entity. nippon steel, japan's biggest steelmaker is poised to take over u.s. steel oh, and a deal worth $14 billion. but the justice department still needs to sign off on it for the deal to go through cnn's matt egan is joining us now with more on this. this is a, this is a huge, huge sale. and you do have a lot of workers very concerned of what it means to them. >> they absolutely. sara, this deal has turned into quite the political local football. >> and i guess i'm not shocked. >> i mean, we were talking about a foreign takeover of an iconic american manufacturing company during an election year. >> it's a symbol of blue-collar jobs and it is based in the must-win battleground, state of pennsylvania. and so yes, with vice president harris going to the steel city, right? the home of the pittsburgh steelers to voice her opposition t

us steel, citing national security concerns. nippon�*s $14.9 billion takeover bid faced opposition from both democrats and republicans who demanded that one of us�*s largest steel manufacturers remains americansite. we are back at the top of the next hour. stay with us. hello. we're expecting a real mix of weather over the next couple of days. for some northwestern parts of the uk, it's going to turn sunny and very warm, but further south for southern england and south wales, we're expecting some heavy rain. perhaps in one or two locations, a month's worth of rain injust a couple of days — that could cause some disruption. it's all because low pressure is continuing to swirl to the south of us, this band of rain here becoming quite slow moving, particularly, i think, across the southwest of england. but around that area of low pressure, we're drawing in some humid air, so further north and west with some sunshine it will feel very warm. now, during thursday, these southern parts of england and south wales will see some rain at times — that rain turning heavy and persistent in the southwest later on. further north, a lot of low cloud, mistand murk, some spots of drizzle, but the best of the s

political footfall is being kicked about here right now on steel is at the heart of it even uniting presidential rivals us feel should remain american owned us. steel is being bought by japan, but opposed to pounds vehicle and still buying. pennsylvania is us steal finality, $50000000000.00. president biden is also against the deal and could block it and it should remain totally mirror site thing. national security could sense people are many here wants you to happen, including us steal itself, which employees, $3000.00 people in the mountain valley and says, no deal could lead to thousands of job losses plus local councils. and we already have a, a tiny economy to lose our biggest employer. it would be absolutely devastated. i'm many workers themselves. i can honestly say that if it still doesn't go through a little concern for us to get a lot of them on now, this is about more than just to stay a lot. remember where we all pennsylvania is in the industrial north, a part of the country with a large probably unionized workforce on union leaders on not funds of this the a lot. remember, unions make presidential endorsements, which ca

american steel plant to japan should be implemented. kamal harris and donald trump are fighting tooth and nail to win the us presidential election. they agree on few issues. the steel industry is one of these limited topics. american steel factory is a very old company and for the country. this factory must be owned by america. as soon as i enter the white house , i will prevent the implementation of the contract for the sale of the american steel plant. a foreign country should not own our most important factory . the dispute is over the $15 billion contract to sell the american steel plant to japan's nippon company. the contract that was finalized last month and now the americans broke it. opposition america, with the claims of these two companies , is another example of washington's protectionist policy. this can seriously damage the economic relations between america and japan. the americans, who once considered themselves the leaders of free trade , have now turned to economic protectionism. not only against china, which is their main competitor, but also against their allies , including japan, which is their most important s

us steel corp by japan's nippon steel in her remarks. vice president harris said that us steel should remain in domestic hands, and commited to always have the backs of american

candidates had come out with the very sort of key economic populist message that us steel should remain in the american hands. i think with workers, it's going to, it's going to go over, well, that there is at least some kind of continuity on that front in a deal that it's not going to come through before election day, but it might be a big issue in the start of 2025. >> of course, trump tried to undermine this message, highlighting what he believes his administration did to help unions truth, social post yesterday saying, quote, we achieved major success to protect american workers by negotiating free and fair trade deals, passing the usmca before adding. but kamala and biden have undone all of that is his message going to break through? for these voters? >> it could, it's possible, i think right now so much of the excitement is on the harris/walz side. i think that we're still sort of on that high of the end of the dnc, her becoming the candidate well, that message will well, the trump the truth, social posts, the screaming into social media world breakthrough. maybe it broke through in 2016, that's

steel is in historic american company and it is vital for our nation to maintain strong american steel companies. and i couldn't agree more with president biden us still should remain american owned an american operated of america and all of america's workers so friends 64 days until the most election of our lives and probably one of the most important in the life of our nation truly and we know this is going to be a tight race to the very end it's going to be a tight race to the very end. so let's not pay too much attention to those polls. because as unions and labor knows best, we know what it's like to be the underdog and we are the underdogs in this race. and we have some hard work done ahead of us but here's the beauty of us in this room we like hard work look the strength that determination in the hard work of the leaders in this room to knock on doors to get folks to the polls. and bluntly put because the people in here do it to help us win pennsylvania today you're ready to make your voices heard believe in freedom believe an opportunity believe in the promise of america god bless you. got we have been listening to vice president calmly

us, steal should remain american old and america. the finally weighing in on a japanese takeover attempt of us steel blasted by an i'm trump one issue that you agree on now had to keeping jobs and pennsylvania will be a major issue for both campaigns. as for the job, she's just gonna offer so much more of this country than the other. and uh, what's happening on the other side is unbelievable. i know what that is and they'll be working assets through to november. so that should fill of out how to 0, pittsburgh, pennsylvania legendary. you're a guy for louis suarez as announced as were time and some international foot pool. the 37 year old. that is fine. okay. and will be the 2026 world cup, qualifying game against power a gland friday. so our is your guys old time top score with 69 goals and a 140 to appearances across an international career spending 14. yes. that's it for me down jordan, for now. you kind of course find more information on websites out 0 dot com. there it is. the weather is next. and then inside story examines when, in fact the demonstrations in israel against prime minister netanyahu would have on the will in casa

us steal, should remain american owned and america. and finally weighing in on a japanese takeover attempt of us steel. lost it by the trump. one issue that you agree on now had to keeping jobs in pennsylvania will be a major issue for both campaigns. i'll split the job. she's just going to offer so much more of this country than the other. and uh, what's happening on the other side is unbelievable. i know what that is and they'll be working assets through to november. this election. phil of l. l g 0, pittsburgh, pennsylvania, is on his way. the record has issued an arrest warrant officer, shanita, edmondo gonzalez, comes off the field to respond to 3 summons to testify about no position website. the site published detailed results of the country's disputed presidential election . the allies of gonzalez, the saying this war, it will only increase the port for him. i drove bradley is a latin america analyst, and he said the president madura is targeting gonzalez to cover up the fact that he lost the election. we think this was predicted once because my little opted to steal the election. he now has to just follow through wit

think about it as the fact of the debate over whether or not us steel should be bought by nippon steel or not was americanssuring not only american industries but americanjobs. industries but american jobs. that industries but americanjobs. that sort of thing. things that are designed to pump up a base that already is approached from. trump strategy and those swing states frankly is to try and get so much enthusiasm from people already euphoria, but they overwhelm the enthusiasm of harris motors in those states. ~ of harris motors in those states. , , states. will because the argument _ states. will because the argument of _ states. will because the argument of that - states. will because the argument of that be - states. will because the | argument of that be 2096 states. will because the - argument of that be 2096 tariffs argument of that be 20% tariffs on all goods coming into the us that will lead to inflation, hope business that paid for components from overseas, the kind of thing. all that wash with the voters, do you think? i think it probably won't. you have to remember you and i would talk about

steel to remain american owned and operated. joining uso discuss, carlos gutierrez, former commerce secretary under president george w. bush, and former secretary under president obama. gentlemen, welcome to you both, and really appreciate you making the time. >> thank you. >> it's a complex issue, and i wonder if its name were something other than u.s. steel, if this would be a story. secretary gutierrez, on the merits, should this deal be blocked? >> no. i don't see the economic logic, i don't see the national security logic. there is a political logic in the sense that we are in an election year, united steelworkers have come out against the deal, and i don't understand that, either. because without the deal, this will be devastating to the company and to workers. so i think it's a very bad idea. i think it's bad policy. >> do you, though, acknowledge that there's probably been plenty of precedence people are worried about where a foreign company takes over an american one, jobs are loss, factories are shuttered, et cetera? >> well, you

takeover of pittsburgh-base d us steel by japan's largest steelmaker, nippon steel a campaign official tells us that vice president harris believes that us feel should remain american owned essentially, echoing a position that president biden first staked out here in pittsburgh with the united steelworkers back in april here's what biden said that you are still done an iconic american company for more than a century. and it should remain a totally american american barber because union workers are the best in the world and that's going to happen. i promise you as worth noting that an american company, ohio-based cleveland lives, had already proposed about buy u.s steel for less than half of what nippon eventually offered an eva's still ceo, david barea tells me in a statement that that price in addition to the billions of dollars in additional investment that nippon proposed are something that the company simply cannot replicate. >> he told me in a statement, u.s. steel will be a much stronger company is worth the transaction in these investments, the entire american steel industry will be stronger and more globally competitive to harris and biden in lockstep on i'

us still should remain american old and america. the finally weighing in on a japanese takeover attempt of us steel lost it by, by the i'm trump one issue that you agree on. now. hi to keeping jobs and pennsylvania will be a major issue for both campaigns. as for the job, she's just going to offer so much more of this country than the other. and uh, what's happening on the other side is just unbelievable. i know what that is and they'll be working assets through to november, so that should fill of l l g 0, pittsburgh, pennsylvania. we go to venezuela, now a quote that was issued an arrest warrant fall position needed window. gonzalez off that he failed to respond to 3 summons to testify about and on position website. it's not published detail results of the countries disputed election gonzalez's allies say the warrant will only increase support for him. petro bradley is a latin american list, and he says that present madura was targeting gonzalez, gonzalez deliberately, to cover up the fact that he lost the election. well, i think this was predicted once, because my little opted to still be election. he now has to just follow through wi

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reuters says that cfius sent nippon steel a letter on saturday saying that deal would pose a national security risk by harming the american steel industry. joining us now to talk about the government's involvement with blocking the deal is dartmouth's tech school of business dean matthew slaughter. matthew, looking at this, there is no harbor for this deal, if you look at any section in washington. just about every politician said they don't want this to happen. what is the likelihood of it actually passing under that scenario? >> well, at this point it seems quite unlikely, unfortunately. and that's because essential to national security is economic security. and it long has been the case that engagement with the global economy for the united states precisely through investments like this of great foreign companies in the united states has been a major contributor to the economic strength and dynamism of america, which defeats the kind of good jobs that one seems to be concerned about. >> do you agree that this is a national security threat, that cfius should be stepping in here? >> nothing i see in the public domain makes me think this is a a nat

us economy $5 billion a day. it will block vital trade arteries for americans just a few weeks before the presidential election. in particular, the strike will hit the supply of cars, equipment, finished steelroducts, precision instruments, pharmaceuticals, and agricultural products. belarusian farmers continue the mass harvesting of the second grain ; potatoes are being dug in the country. the pace is good ; 56% has already been harvested in agricultural organizations. 31,000 tons of tubers have been dug up with an average yield of 317 centners per hectare. the largest area for potatoes is allocated in the minsk and brez regions; the harvest is planned to be completed by october 14. farms of all categories annually produce about 4 million tons of potatoes, of which 70 percent are provided by personal subsidiary farms. of these , about 100,000 are grown in agricultural organizations and peasant farms. the russian federation, azerbaijan, georgia, kazakhstan, serbia, uzbekistan, and many other countries. the off-season period of 2024-2025 is planned to include 47 tons of potatoes in the republic's stabilization funds. also , the harvesting of corn for grain continues in the fields, this is a

steel. [laughter] two american -- stuart: this is acceptable. lauren: it could be a compromise deal because u.s. steel has come out and almost threatened saying, look, if you don't let usippon steel, japanese company, we might have to cut thousands of jobs and move our headquarters out of swing state pennsylvania. so should president biden nix the sale to japan, the gee of cleveland cliffs saying, oh, we're an american company, we could come in and help and support these union jobs -- stuart: yeah, but will they put in the $14 billion that nippon steel was going to put in? lauren: interesting you ask that because last year they put in a bid values at $54 cash and stock, nippon steel put in $55, and ironically or, u.s. steel turned down cleveland cliffs because of regulatory concerns. stuart: oh, there's that. [laughter] bottom right-hand corner of the screen, the dow is up 227 point, more than a half percent. all of a sudden, the thing goes up. we're going to to look into this, which stocks are moving so sharply higher to justify a sudden burst to 220 the on the upside for the dow. okay. back to docusign because they reported after the bell. i guess it was a good repor

us. >> in pennsylvania last night, trump attacked vice president harris energy and manufacturing policies and promised to keep u.s. steel americanier, speaking to farmers, he threatened to impose a massive tariff on john deere if the company moves production to mexico. abc seven news is committed to bringing you all the major developments in the presidential election. you can find complete coverage and live updates at abc seven news.com, and on the abc seven news app. now it's time for our abc seven mornings advancer. our way of highlighting some things happening in the day ahead here in the bay area. >> first, the cal fire firefighter arrested for a series of fires in the north bay is expected in court today. the suspect is from healdsburg and was arrested last week on arson charges. he is suspected of igniting five fires dating back to early august in geyserville, healdsburg and windsor. investigators say all fires were set while he was off duty. >> today, richmond city council will meet to discuss how to spend $550 million in settlement money from chevron. chevron agreed to pay that amount over ten years in exchange for the c

use the power he does still have to block the sale of u.s. steel a japanese company according to multiple reports. >> he believes in american school companies oughtrican owned. i really can't go beyond that. >> steve: u.s. steel is trying to pressure vice p president bid vice president harris. >> u.s. steel should remain american-owned and american operated. >> peter: claiming it could cut jobs and move jobs out of battleground pennsylvania if sale to japan based nippon steel doesn't happen to which senator john fetterman says i will stand united steelworks against shameless executives looking for a golden pair hewitt. i call b.s. on the executives like i did shortly after the first national anthem. vice president harris picked pittsburgh for debate prep. little is known how she will prepare. >> running mate. the vice president is smart. she is she is someone who knows how to get the job done. >> recent reversals on immigration and economic policy remain unavailable, including a flip flop on fracking another huge issue in pennsylvania. >> if the vice president's values have not changed why have so many of her positions on policies change. >> i wo

steel should stay with american ownership. >> a review commissioned by the world health organization found no link between cell phone use and experts from around the world sifted through 5000 studies, and they determined the risk of brain cancer did not increase, even with extended cell phone use of ten years or more. the team also did not find an increased risk of leukemia or brain cancer in children exposed to radio or tv transmitters or cell phone towers. concerns first arose of a potential link between cell phone use and brain cancer back in 2011, when the international agency for research on cancer classified radio wave exposure as a possible carcinogen to humans. >> next, at 530, an apology from the 17 year-old charged with shooting ricky pearsall. how he's hoping to avoid being tried as an adult. >> also still to come here, a pitch to small business owners. plus, how vice president kamala harris is splitting from president biden on her economic message and protecting the integrity of the november election. >> the new accusations russia faces of trying to spread misinformation. receiver ricky pearsall during a robbery

i think it's clear what the american people want if we are spending taxpayer dollars on infrastructure. i think the steel and pipe we use needs to be made in the united states. thank you all three. senator scott? >> thank you. now talking in my opening statement or opening comments about the fact that the impact of inflation has driven the cost of construction to the highest levels we have seen in the shortest period of time. i think of the inflation reduction act tethat some continue to celebrate as mitigating the impact on our country of inflation. to me, a bit backwards, and one program within the ira is the greenhouse gas fund that has to get $27 billion out the door by september the 30th. the way i look at it from economists, you rush $30 billion, $27 billion out the door, in an already hot, artificially stimulated economy, the chances of it having a negative impact in the construction economy is high personally. the fact is that the covid relief package. the $1.9 trillion, the inflation reduction act, the resources flooding into the economy, some of it, if not all of it immediately only help impact the inflation t

us. let's look at the american board so you can see the close on wall street. to the uk now, where the government is warning of a grim septemberfor people working in the steel and6,000 job losses could be on the cards with the steel works in port talbot and scunthorpe bearing the brunt as furnaces are wound down. this comes alongside news that the government is expected to follow through on a £500 million subsidy promise to tata steel in port talbot — money towards the cost of building a new electric arc furnace for "green" steel making for the future. so tough times for heavy industry, but how is the ukjobs market functioning more broadly? we'll have the latest numbers out in just over an hour's time. joining me now is toby, chief executive of recruiters robert walters. good to have you on the programme. obviously, within the steel and oil business it has been under pressure for years, hasn't it, and this is coming to a head now? it is. actually we _ coming to a head now? it is. actually we have _ coming to a head now? it is. actually we have our - coming to a head now? it is. actually we have our own - coming to a head now? it is. i actually we have our own d

american national security as well. more chinese steel, will have to be imported more chinese steel will be something that united states will be more dependent on. that's bad for usner for us for them for nippon to invest in pennsylvania to grow, jobs in pennsylvania is a great thing for our nation. larry: you're the diplomat not me but the last remember japan is a very good american ally so i'm not going to fret about that. and i also -- look you know who agrees with you, wilbur, ross, he came on this show a while back -- and looked you know he looked at the financials went through some numbers and stuff. and he said it is a good fit, and you're right. nippon steel will save it they'll keep the plants open they might even allow expansions. united states only has 5% of the world steel production, china is over 50.. so that's another one. >> it is. larry you know it is great to have a former secretary ross you and i both served with coming out in support of this. he's done the math. this he's a steel guy right he knows manufacturing in america. one of the things president trump has talked about consistently is he wants foreign direct investment not from china but

fork of the american nation and compared her spine to a steel ramrod, apparently meaning that she is a strong politician. kamala herself. harris at her rallies across the country says that she usedork at mcdonald's, for which she is highly praised. just think about it: two children from a simple family, one of them a daughter, was born in california, she was raised by a working mother, in the summer i worked at mcdonald's. donald trump, how can he even believe this story that she worked at a mcdonald's restaurant. she tells a fake story: allegedly gamala worked at mcdonald's. tell me, is there any evidence that she worked there, or is this just a trick to gain votes and change the image of camela? during one of the trials he ordered their food, ordered for his employees, so such statements are very offensive to poor donald trump. also, there is no evidence that she just said this and continued to spread this topic, but donald trump correctly noted, then why is there not a line on her resume about her work at mcdonald's and there is no. every time it changes, i first heard this story when she bragged as part of the election campaign, she stated that worked to save up for a semest

steele with his shade at trump supporters. >> this man is unserious. >> yes. >> the fact that he is running close in this race to me is offensive because it says a lot about us as a americansu believe this guy. >> harris: i don't know what he is trying to say there about american voters that he thinks would help kamala harris but the bottom line is none of this is helping her move. she had a big honeymoon period. david, i've heard you say now it's time for the hard work. >> well, i mean she has had one successful event after the other. she has momentum at her back and what we want to see if it's your candidate. and yeah, you pointed to the debate not moving the needle much. in this election where we know it is just so close, that moving the needle just a fraction of a percent is important. look back to the biden trump debate. that didn't move the needle much in terms of polling but eventually let biden exit the race because of the way he performed but didn't move the polls much. >> harris: why did your side of the aisle kick him out or at least capitulated to something that looks like that? >> i think there is a whole bunch of reasons for that, right? we believe in preside

and steel because a lot of people felt it is the policymakers that, like all these people, keep telling us about moral hazard, but it's not led to any problem or any apparent problem in the american economy. and that's the link i make that no, it has led to a problem. it's just that it's much more insidious. most policymakers tend to view problems as an apparent crisis in your face crisis. so if the was facing some sort of a fiscal crisis or it running out of money to bail out companies or that was not working, then it would be, yeah, okay. this is a problem but i see that the problem is much more insidious because it's led to a decline in the number of new start ups in america that's been declining for the last few decades, right up until the pandemic it's matched by a decline in productivity in the american economy. so the moral hazard is a real problem just that it's been playing itself out in a modern, insidious way. and because it's not happening in your face in terms of a big crisis, people, wages, policy makers have stopped talking about that. but the average american has, i've argued in the book, is very unhappy at the state of the american economy today. so for the avera

american division of nippon steel, based here in the united states. >> right. >> of course, that was -- >> this went both sides demagoguing for their own reasons and us poor schlepsmagogue g demagoguery. bad times are coming. >> could be union related. i don't know. that's what it is. >> can you come together on this, there's hope for the world. the only comment. >> that's true. >>> anyway, for the morning movers, start things off with a couple earnings stories this morning. start with dick's sporting goods down right now poun 51%. better than expected. dick's raised full year outlook but not by as much as some analysts ict ps predicted. down side move. next up dollar tree down roughly 11.5%. discount retailers missed expectations on profits and revenues and cut profit and sales forecast. expecting a more conservative picture balance of the year. semiconductor stories not nvidia. intel. dow component swung to a pre-market loss from a gain. partly on a reuters story intel's contract chipmaking or foundry business suffered a setback after broadcom sent products that did not pass broadcom for larger production. the report noted intel said its most advanced platform