Latest news with #Japan-based
Qatar Tribune
a day ago
- Business
- Qatar Tribune
Trump secures unique oversight in US steel buyout
Agencies President Donald Trump will control the so-called 'golden share' that's part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange Commission. The provision gives the president the power to appoint a board member and have a say in company decisions that affect domestic steel production and competition with overseas producers. Under the provision, Trump — or someone he designates — controls that decision-making power while he is president. However, control over those powers reverts to the Treasury Department and the Commerce Department when anyone else is president, according to the filings. The White House didn't immediately respond to questions Wednesday about why Trump will directly control the decision-making and why it goes to the Treasury and Commerce departments under future presidents. Nippon Steel's nearly $15 billion buyout of Pittsburgh-based U.S. Steel became final last week, making U.S. Steel a wholly owned subsidiary. Trump has sought to characterize the acquisition as a 'partnership' between the two companies after he at first vowed to block the deal — as former President Joe Biden did on his way out of the White House — before changing his mind after he became president. The national security agreement became effective June 13 and is between Nippon Steel, as well as its American subsidiary, and the federal government, represented by the departments of Commerce and Treasury, according to the disclosures. The complete national security agreement hasn't been published publicly, although aspects of it have been outlined in statements and securities filings made by the companies, U.S. Steel said Wednesday. The pursuit by Nippon Steel dragged on for a year and-a-half, weighed down by national security concerns, opposition by the United Steelworkers and presidential politics in the premier battleground state of Pennsylvania, where U.S. Steel is headquartered. The combined company will become the world's fourth-largest steelmaker in an industry dominated by Chinese companies, and bring what analysts say is Nippon Steel's top-notch technology to U.S. Steel's antiquated steelmaking processes, plus a commitment to invest $11 billion to upgrade U.S. Steel facilities. The potential that the deal could be permanently blocked forced Nippon Steel to sweeten the deal. That included upping its capital commitments in U.S. Steel facilities and adding the golden share provision, giving Trump the right to appoint an independent director and veto power on specific matters. Those matters include reductions in Nippon Steel's capital commitments in the national security agreement; changing U.S. Steel's name and headquarters; closing or idling U.S. Steel's plants; transferring production or jobs outside of the U.S..
Miami Herald
2 days ago
- Business
- Miami Herald
Brenmiller Energy Signs a Memorandum of Understanding to Advance Thermal Energy Storage Solutions in Japan with a Major Japanese Corporation
ROSH HAAYIN, ISRAEL and YOKOHAMA, JAPAN / ACCESS Newswire / June 26, 2025 / Brenmiller Energy Ltd. ("Brenmiller" or the "Company") (Nasdaq:BNRG), a global leader provider of thermal energy storage ("TES") solutions for industrial and utility customers, and a major Japanese Corporation, which is a prominent Japan-based engineering and project development company, announced today the signing of a non-binding Memorandum of Understanding ("MOU") to collaborate on the deployment of sustainable heating solutions in Japan. The agreement marks a significant milestone in both companies' commitment to accelerating the energy transition and decarbonization of industrial processes. Under the MOU, Brenmiller and the Japanese corporation will work together to explore commercial opportunities for Brenmiller's TES technology, focusing on replacing fossil-fuel-based boilers with innovative, zero-emission TES systems. Collaboration to Drive Market Growth in Japan As part of the collaboration, the Japanese corporation will leverage its market experience as a global engineering company with expertise in project development, energy transition, and infrastructure solutions. Headquartered in Yokohama, Japan, the Japanese corporation aims to play a pivotal role in delivering innovative, sustainable solutions across various sectors, including energy, industrial, and environmental industries. Under the MOU, the Japanese corporation will identify and develop opportunities for TES system implementation across Japan. The initiative includes promoting both direct sales of TES equipment and Heat-as-a-Service ("HaaS") models for industrial and utility-scale applications. "We are excited to work with a major Japanese player, a company with a strong reputation for driving innovation and sustainability," said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller. "Japan represents a potential market for thermal energy storage due to high penetration of renewables and desires for sustainable solutions, and this collaboration will help us accelerate decarbonization efforts for industrial heat-a critical step toward achieving net-zero targets." About Brenmiller Energy Ltd. Brenmiller Energy Ltd. helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at and follow the company on X and LinkedIn. Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements when discussing future commercial opportunities for the Company's TES technology; replacing fossil-fuel-based boilers with innovative, zero-emission TES systems; that the Japanese corporation will leverage its market experience and engineering expertise to identify and develop opportunities for TES system implementation across Japan; future outcomes of the MOU including promoting direct sales of TES equipment and HaaS models for industrial and utility-scale applications; that the collaboration will help accelerate decarbonization efforts for industrial heat and contribute to achieving net-zero targets. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to: the Company's planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2025, which is available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Contact: investors@ SOURCE: Brenmiller Energy
Euronews
2 days ago
- Business
- Euronews
US Steel buyout gives Trump a new power: What about future presidents?
President Donald Trump will control the so-called 'golden share' that's part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out American steelmaker US Steel. That's according to disclosures filed with the US Securities and Exchange Commission. The provision gives the president the power to appoint a board member and have a say in company decisions that affect domestic steel production and competition with overseas producers. Under the provision, Trump — or someone he designates — controls that decision-making power while he is president. However, control over those powers reverts to the Treasury Department and the Commerce Department when anyone else is president, according to the filings. The White House responded in a statement that the share is 'not granted to Trump specifically, but to whoever the president is". Officials were asked why Trump will directly control the decision-making and why it goes to the Treasury and Commerce departments under future presidents. Still, the wording of the provision is specific to Trump. It lists what decisions cannot be made without 'the written consent of Donald J. Trump or President Trump's Designee' at 'any time when Donald J. Trump is serving as President of the United States of America' or 'at any other time, the written consent of the CMAs', a contractual term for the Treasury and Commerce departments. Nippon Steel's nearly $15 billion buyout of Pittsburgh-based US Steel became final last week, making US Steel a wholly-owned subsidiary. Trump has sought to characterise the acquisition as a "partnership" between the two companies after he at first vowed to block the deal — as former President Joe Biden did on his way out of the White House — before changing his mind after he became president. The national security agreement became effective 13 June and is between Nippon Steel, as well as its American subsidiary, and the federal government, represented by the departments of Commerce and Treasury, according to the disclosures. The complete national security agreement hasn't been published publicly, although aspects of it have been outlined in statements and securities filings made by the companies, US Steel said Wednesday. The pursuit by Nippon Steel dragged on for a year and a half, weighed down by national security concerns, opposition by the United Steelworkers, and presidential politics in the premier battleground state of Pennsylvania, where US Steel is headquartered. The combined company will become the world's fourth-largest steelmaker in an industry dominated by Chinese companies, and bring what analysts say is Nippon Steel's top-notch technology to US Steel's antiquated steelmaking processes. That's on top of a commitment to invest $11bn to upgrade US Steel facilities. The potential that the deal could be permanently blocked forced Nippon Steel to sweeten the deal. That included upping its capital commitments in US Steel facilities and adding the golden share provision, giving Trump a veto power on specific matters and the right to appoint an independent director. Those matters include reductions in Nippon Steel's capital commitments in the national security agreement; changing US Steel's name and headquarters; closing or idling US Steel's plants; transferring production or jobs outside of the US; buying competing businesses in the US; and certain decisions on trade, labour and sourcing outside the US.
Time of India
2 days ago
- Business
- Time of India
Tejas Networks shares in focus after strategic tie-up with Rakuten Symphony
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Tejas Networks are likely to remain in focus on Wednesday, June 26, following the announcement of a strategic partnership with Japan-based Rakuten Symphony 'Rakuten Symphony and Tejas Networks, a Tata Group company, today announced a multi-faceted strategic partnership to develop integrated Open RAN solutions and engage in joint go-to-market efforts, both in India and internationally,' the company said in an exchange per a joint statement released on Wednesday, the collaboration aims to develop integrated Open RAN (Radio Access Network) solutions and jointly pursue go-to-market efforts in India and partnership will see the two companies integrate Rakuten Symphony's CU and DU software, OSS, and cloud portfolio with Tejas's proven 4G/5G radio offerings. By leveraging commercial and technical synergies and collaborative engagement strategies, the collaboration seeks to drive the deployment and expansion of next-generation 4G and 5G networks, including in India.'Through this partnership with Rakuten Symphony, we intend to combine our field-proven RAN infrastructure solutions with Rakuten's resilient cloud-native RAN software stack and orchestration solution to provide a compelling solution to the global market,' said Kumar N. Sivarajan, CTO and Co-founder of Tejas Symphony, through its association with Rakuten Mobile and supported by key R&D projects funded by Japan's NEDO (New Energy and Industrial Technology Development Organization), reaffirmed its commitment to advancing Open RAN company also focuses on building automated network quality assurance systems and edge cloud capabilities to support future communication infrastructure. Tejas Networks shares closed 0.8% lower at Rs 697.20 on the BSE on Wednesday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
Tejas Networks shares in focus after strategic tie-up with Rakuten Symphony
Shares of Tejas Networks are likely to remain in focus on Wednesday, June 26, following the announcement of a strategic partnership with Japan-based Rakuten Symphony. ADVERTISEMENT 'Rakuten Symphony and Tejas Networks, a Tata Group company, today announced a multi-faceted strategic partnership to develop integrated Open RAN solutions and engage in joint go-to-market efforts, both in India and internationally,' the company said in an exchange filing. As per a joint statement released on Wednesday, the collaboration aims to develop integrated Open RAN (Radio Access Network) solutions and jointly pursue go-to-market efforts in India and globally. The partnership will see the two companies integrate Rakuten Symphony's CU and DU software, OSS, and cloud portfolio with Tejas's proven 4G/5G radio offerings. By leveraging commercial and technical synergies and collaborative engagement strategies, the collaboration seeks to drive the deployment and expansion of next-generation 4G and 5G networks, including in India.'Through this partnership with Rakuten Symphony, we intend to combine our field-proven RAN infrastructure solutions with Rakuten's resilient cloud-native RAN software stack and orchestration solution to provide a compelling solution to the global market,' said Kumar N. Sivarajan, CTO and Co-founder of Tejas Symphony, through its association with Rakuten Mobile and supported by key R&D projects funded by Japan's NEDO (New Energy and Industrial Technology Development Organization), reaffirmed its commitment to advancing Open RAN innovation. ADVERTISEMENT The company also focuses on building automated network quality assurance systems and edge cloud capabilities to support future communication infrastructure. Tejas Networks shares closed 0.8% lower at Rs 697.20 on the BSE on Wednesday. ADVERTISEMENT Also read: SBI appoints 6 banks for Rs 25,000 crore QIP, first share sale in eight years (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
