Biden Opposes U.S. Steel's Japanese Takeover

Good morning and happy Friday! Blue sea slugs -- or blue dragons -- have been washing up on beaches in Texas. But if you encounter one of the stunning creatures, do not touch. They sting and pack a vicious punch, according to marine biologists. Have a great weekend!

In Today’s Brief

• Texas: Abortion exception clarification

• Schumer: Blasts Netanyahu

• RFK Jr. Donor revolt over Rodgers

• Inflation: More hot numbers

• NHL: Bobblehead giveaways stolen

... and more

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Top Tips

1) Stop the steel

President Joe Biden has come out against a Japanese takeover of U.S. Steel, a stance with significant economic and political implications.

• Catch up: Nippon Steel struck a $15B deal for the famed steelmaker last December, doubling an offer by domestic rival Cleveland Cliffs. Nippon pledged to keep the name and Pittsburgh headquarters and honor all union contracts; the merger would create the world's third-biggest steelmaker.

• State of play: Biden said it is vital US Steel remains American-owned as bipartisan opposition to the proposed deal grows among lawmakers and labor. His comments come before the federal review process is completed, a notable move and blow to the acquisition's chances.

• Big picture: U.S. Steel operates in the critical swing states of Michigan and Pennsylvania, among other Rust Belt states. But Biden's comments sent its stock price downward and the company has struggled in recent years.

2) Boom towns

The Dallas-Fort Worth metropolitan area was the nation's fastest-growing last year as people continue to flock to the state of Texas.

• The figures: New U.S. Census data said the D-FW metroplex added over 152K new residents in 2023. The growth puts it at over 8M residents, making it the nation's No. 4 metro area.

• Also growing: The Houston metro area was the second-fastest growing, adding over 139K residents to double third-place Atlanta (68K). The Austin and San Antonio areas were also among the top-10 in growth nationally.

• Big picture: Florida also saw big growth, with the Orlando and Tampa metro areas combining for about 107K new residents. The New York, Los Angeles and Chicago metro areas remain the nation's largest in that order

3) Motto mayhem

A decision by West Point brass has caused a furor.

• What happened: The U.S. Military Academy has removed "Duty, Honor, Country" from its mission statement. The three words -- made famous by Gen. Douglas MacArthur -- remain the academy's motto. The new mission statement focuses on "Army Values."

• The response: Some lawmakers and conservative commentators criticized the move, while others said it was a non-issue. Military leadership stressed the academy must regularly assess its mission statement and the revision process took 18 months.

• Big picture: The motto had only been in the mission statement since 1998, and it is used little in everyday life at the academy. Lt. Gen. Steven Gilland, the USMA Superintendent, said the motto will remain core to the academy's mission.

Quick Tips

U.S. News

• The Texas Medical Board will consider language clarifying exception criteria to the state's abortion laws. The move comes after a woman was forced to leave the state to terminate a non-viable pregnancy (More)

• Florida Rep. Matt Gaetz was subpoenaed in a civil defamation lawsuit that involves allegations he had sex with an underage woman. The controversial GOP lawmaker's friend is suing the woman and others; her attorneys are pushing for his deposition (More)

• Manhattan District Attorney Alvin Bragg is amenable to a 30-day delay in former President Trump's hush money trial. Jury selection was to begin March 25; federal prosecutors will turn over pertinent documents next week (More)

World News

• Senate Majority Leader Chuck Schumer slammed Israeli Prime Minister Benjamin Netanyahu in a floor speech. Schumer called for elections in the country and said Netanyahu is an impediment to peace in Gaza (More)

• Two Indonesian presidential candidates will challenge the official results of last month's election, alleging fraud. Defense Minister Prabowo Subianto is on pace to win with about 60% of the vote (More)

• Russia allegedly jammed satellite signals for a British military plane carrying Minister of Defense Grant Shapps. The incident occurred near Kaliningrad's airspace; Shapps was never in danger (More)

Campaign News

• Major donors have threatened to stop funding independent presidential candidate Robert F. Kennedy Jr. if he picks Aaron Rodgers as his running mate. The New York Jets QB acknowledged the Sandy Hook school shooting in a carefully-worded tweet (More)

• President Biden's re-election campaign has doubled staffing in swing states over the last month. The "blue wall" of Michigan, Pennsylvania and Wisconsin are of particular focus (More)

• Former North Carolina Gov. Pat McGrory resigned as No Labels co-chairman. The Republican did not explain his decision; the group plans to mount a third-party presidential campaign (More)

Business & Markets

• Major indexes closed down yesterday. Wholesale inflation was up 0.6% MoM in February, doubling the forecast (Dow -0.35%, Nasdaq -0.30%, S&P 500 -0.29%).

• Former Treasury Secretary Steven Mnuchin has emerged as a prospective TikTok buyer. The film producer and investment banker said he is assembling an investor group to pursue an acquisition (More)

• Altria Group will sell $2.2B in Anheuser-Busch InBev stock. The tobacco maker owns 10% of the brewer; it is selling about 17% of its holdings (More)

Entertainment & Sports

• The Pittsburgh Penguins postponed a Jaromir Jagr bobblehead promotion due to cargo theft of the dolls in the former star player's likeness. The NHL team gave fans a voucher for future redemption (More)

• The College Football Playoff remains on pace to expand to 14 teams in 2026. The FBS conferences and Notre Dame are expected to finalize a contractual extension today (More)

• NFL Network and NFL+ will broadcast live games of the revived Arena Football League and Overtime's high school 7-on-7 league. The deal includes 30 AFL games starting in late April (More)

Quick Hitters

• Be Safe: Tap water is not sterile. And if you use it in your neti pot to clean your sinuses, it could kill you.

• Go Deep: Young people are getting cancer at an alarming rate. Researchers are racing to find out why.

• Rent Due: Over 80% of Americans want to own a home. But over 60% are afraid they never will, according to a recent survey.

• Food Hack: Hormel has invented a perforated corn chip for sanitary double dipping. But it appears to be more of a marketing stunt than a revolutionary product.

• Life Hack: There is a proper way to hang toilet paper in your bathroom. Let the experts explain why.

• OPTIMIZE ME: Researchers “found convincing evidence that higher intake of ultra-processed foods was associated with 50% increased risk of cardiovascular disease-related death, a 48% to 53% higher risk of anxiety and common mental disorders, and a 12% greater risk of type 2 diabetes”

Want more health and wellness news? Subscribe to our brand new newsletter, Optimize Me, and start living a healthier life through diet, exercise, sleep, and mindfulness:

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Looking Ahead …

An Australian billionaire said he is renewing his plan to build a replica of the Titanic, and he intends to set sail in 2027. But many people are skeptical for myriad reasons, including the fact he tried to do it a decade ago and it never left the dock.

Question of the Day

Yesterday’s results:

Should the U.S. consider a law banning foreign state ownership of media outlets?

• Yes (91%)

• No (9%)