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Government Scrutiny

All articles tagged with #government scrutiny

business1 year ago

"Controversial Nippon Deal: U.S. Steel Shareholders Approve $14.9 Billion Merger Amid Protests"

U.S. Steel shareholders have approved the $14.1 billion takeover by Nippon Steel, with over 98% of shares voting in favor. The merger still faces government scrutiny from the Justice Department and CFIUS, amid concerns about national security and impact on steel jobs. President Biden and former President Trump oppose the deal, while lawmakers and the United Steelworkers Union have expressed concerns. Nippon Steel has promised no job cuts, but the outlook remains uncertain as regulatory approval is still pending.

via Fox Business|
#business#government-scrutiny#merger
cryptocurrency2 years ago

Crypto Industry Faces Regulatory Crackdown as Binance CEO Pleads Guilty and Users Withdraw Billions

The $4.3 billion settlement between Binance and US authorities has brought relief to crypto enthusiasts, who believe it lifts uncertainty in the industry. While Binance's own token initially dropped, other cryptocurrencies like Bitcoin and Ethereum saw positive movement. Investors are optimistic about wider acceptance and regulatory clarity, with hopes for the approval of a spot Bitcoin ETF. However, caution remains as the SEC still has pending lawsuits against major players like Binance and Coinbase. Binance will now operate under tighter government scrutiny, and its CEO will step down and pay a fine. The settlement marks an inflection point for the industry, with stricter regulations expected. Binance faces challenges in complying with the agreement's terms, and customers have already withdrawn a significant amount of funds. Overall, the industry is seen as turning a corner, but slower and sustained growth is anticipated.

via Yahoo Finance|
#binance#bitcoin-etf#crypto-industry
sports2 years ago

Senate Investigates PGA Tour's Partnership with Saudi-Backed LIV Golf

The U.S. Senate's Permanent Subcommittee on Investigations is reviewing the PGA Tour's planned alliance with the DP World Tour and Saudi Arabia's Public Investment Fund (PIF) due to concerns about the Saudi government's role in influencing the effort and the risks posed by a foreign government entity assuming control over a cherished American institution. The PGA Tour and LIV Golf League have until June 26 to produce documents related to the relationship between the PGA Tour, LIV Golf, and PIF. The U.S. Department of Justice is also conducting an investigation into the PGA Tour's alleged monopolistic behavior.

via ESPN|
#government-scrutiny#investigation#liv-golf