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Stock Market & Financial Investment News

News Breaks
June 2, 2014
10:32 EDTXU.S. Steel to idle two tubular facilities, says dumping a factor
United States Steel announced it will indefinitely idle two tubular manufacturing facilities in McKeesport, Pa., and Bellville, Texas, in early August, impacting approximately 260 employees as a result of business conditions which are influenced by unfairly traded tubular products imported into the United States. The indefinite idling of these loss-making operations will reduce the number of U. S. Steel's tubular facilities from 10 to eight, but will enable the company to operate more profitably as it repositions to meet future customer demand, the company said. Approximately 45 professional and management employees and 215 represented employees were advised of the upcoming idling and resulting job reductions and are being issued notices under the Worker Adjustment and Retraining Notification Act. U. S. Steel President and CEO Mario Longhi stated, "We will continue to fight unfair trade by foreign competitors who are creating a detrimental impact and threat to middle-class paying manufacturing jobs." U. S. Steel, along with other domestic producers, has filed an anti-dumping action with the U.S. Department of Commerce to halt the unfair trading and dumping of foreign Oil Country Tubular Goods into the American market, it noted.
News For X From The Last 14 Days
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October 21, 2014
11:51 EDTXU.S. to end deal sheltering Russia from flat-rolled steel duties, Reuters says
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October 20, 2014
11:37 EDTXStocks with call strike movement; X TWTR
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October 17, 2014
08:48 EDTXBofA/Merrill global steel analysts hold analyst/industry conference call
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October 15, 2014
14:41 EDTXMissouri AG Chris Koster announces $266K settlement with U.S. Steel
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