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Monday, December 18, 2023

The Daily Money: Storms takeover the Northeast; Nippon Steel takes over U.S. Steel

The Daily Money: Torrential rainstorms and high winds rattle the Northeast. In the markets, U.S. Steel agrees to be bought by Japan's Nippon Steel.

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Dec 18 2023

 

Medora Lee Money and Personal Finance reporter

Happy Monday from Chicago, where it is windy and cold but not flooding (thank goodness!), unlike my friends in the Northeast. I hope they and you are all and safe.

In other news, U.S. Steel will soon trade citizenships. Japan's Nippon Steel agreed to buy the iconic U.S. Steel for nearly $15 billion in cash. In its heyday, U.S. Steel was the world's largest corporation, created by Andrew Carnegie, one of America's top robber barons.

U.S. Steel shares jumped more than 25% on the news. If your financial advisor had that stock in your portfolio, lucky you! Tell us about it. We're taking a survey of top financial advisors here.

๐Ÿ“ฐ More stories you shouldn't miss ๐Ÿ“ฐ

๐Ÿ” Today's Menu ๐Ÿ”

Christmas Beers.jpg

Some of the Christmas beers available in 2023: From right to left, Jubelale, a winter ale from Deschutes Brewing in Bend, Ore.; Christmas Bomb!, an imperial stout from Prairie Artisan Ales in Oklahoma City; Christmas Ale, a brown ale from Abita Brewing in Covington, La.; and Shiner Holiday Cheer, a Dunkelweizen-style beer from Spoetzl Brewing in Shiner, Texas.

Marc Ramirez - USA TODAY

 About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Laura VanBlaricum trims a plastic container at the Vantage Plastics facility in Standish, Michigan. Through an arrangement between her employer and the state, VanBlaricum only pays one-third of the cost of her child care.

Tri-Share is a public-private partnership to help modest-income families shoulder the high cost of child care. Could it work outside Michigan?

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For a story on parents trying to keep grandparents holiday spending in check, we photograph, Andrew Herzog (black sweater), his father Chris Herzog (Blue Shirt), and son Patrick (3 years old). Grandfather Chris often babysits Patrick..Photos taken at the home of grandfather, Chris Herzog, who resides in Dallas, Texas. The three were playing with some transportation themed toys on the dining room table which became an imaginary race track.
 

Grandparents 'overgifting' the kids? Practical tips to manage it.

In the first of a new series called Uncomfortable Conversations About Money, we tackle the topic of grandparents spoiling the kids with holiday gifts.

People enter and depart a career fair where job seekers can meet with prospective employers during a City of Los Angeles career fair offering to fill vacancies in more than 30 classifications of jobs on November 2, 2023 in Los Angeles, California. The US Bureau of Labour Statistics will release on November 3 the October jobs report amid expectations employment remains quite healthy. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)
 

Inflation to dip next year as jobless rate grows, federal office says

The Congressional Budget Office projects an uptick in the unemployment rate to help lower inflation in 2024.

A person walks by part of the U.S. Steel Edgar Thomson Works in Braddock, Pa., that will be part $1 billion upgrade U.S. Steel plans for it's three Mon Valley Works, Thursday, May 2, 2019. The Mon Valley Works include Edgar Thomson Works, the Clairton Coke Work, in Clairton, Pa., and the Irvin Plant in West Mifflin, Pa.
 

US Steel to be acquired by Japan's Nippon Steel for nearly $15 billion

Nippon Steel Corporation is acquiring U.S. Steel in an all-cash transaction at $55 per share for a total enterprise value of $14.9 billion.

This 1958 Ford Nucleon is among 100 concept car images that Ford Motor Co. just added to its online archive site. Images are now available to the public for free downloading.
 
For subscribers

Check out these photos of Ford concept cars hidden for decades

Ford releases photos of prototype auto designs for free downloading from an archive site attracting millions of viewers from around the world.

Federal Reserve Board Chairman Jerome Powell testifies before a House Financial Services Committee hearing on the Federal Reserve's Semi-Annual Monetary Policy Report, on Capitol Hill in Washington, DC, on June 21, 2023. The US Federal Reserve expects to continue raising interest rates but to slow down the pace of hikes, Fed chair Jerome Powell told a Congressional hearing Wednesday.
 

Lower interest rates are coming. What does that mean for investors?

Lower interest rates are coming, the Federal Reserve announced on Wednesday. What does that mean for the kitchen-table investor?

FILE - A for sale sign stands in front of a house on Oct. 6, 2020, in Westwood, Mass. Sales of previously occupied U.S. homes slowed in August 2022 for the seventh month in a row, as sharply higher mortgage rates and rising home prices made homebuying less affordable. (AP Photo/Steven Senne, File)
 

Legal attack on real estate agents is bad for homebuyers and sellers

Attorneys have filed new lawsuits claiming the real estate profession overcharges homebuyers and sellers. This could not be further from the truth.

LAS VEGAS, NEVADA - JULY 04: Sphere lights up for the first time in celebration of Independence Day on July 04, 2023 in Las Vegas, Nevada. The 366-foot-tall, 516-foot-wide venue, the largest spherical structure on Earth, features an Exosphere with a 580,000-square-foot display, the largest LED screen in the world, and is expected to open later in 2023. on July 04, 2023 in Las Vegas, Nevada. (Photo by Greg Doherty/Getty Images)
 

MSG Sphere in Vegas knows how to turn heads

The MSG Sphere in Las Vegas has already secured its place as of the best displays off the Strip, several months after its grand opening.

6 tips to hide your gift orders online from friends and family
 

How to hide your online gift orders

Don't spoil the surprise. Here's how to hide your gift orders online.

An unsold 2023 Model X sports-utility vehicle sits outside a Tesla dealership in June in Littleton, Colo.
 

Tesla and Mazda among 2 million-plus vehicles recalled: Check here

Among vehicles recalled recently: Tesla's recall of more than 2 million electric vehicles. Mazda also recalled 12,741 older B-Series pickup trucks.

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