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Deal blocked: President Joe Biden on Friday officially blocked Nippon Steel’s proposed purchase of U.S. Steel, a once-iconic American company whose sale to a foreign buyer he publicly opposed for months. If completed, the deal “threatens to impair the national security of the United States,” the president said. Read more from The Washington Post. A subscription may be required.
Delayed flights: The Department of Transportation fined JetBlue Airways $2 million for “chronically delayed flights,” the first penalty of its kind, the DOT said Friday. JetBlue operated four routes that were delayed at least 145 times from June 2022 through November 2023, the DOT said. Read more from CNBC.
Rebounding: U.S. new car sales in 2024 continued to rise from their pandemic lows, bolstered by replenished inventories and higher incentives, analysts estimated. Sales are expected to top 15.8 million, the highest level since 2019, with General Motors defending its 2023 sales crown. Read more from Reuters.
