US President Donald Trump wants to revive its steel industry by executive order. Ideally, ban the import of foreign steel. But that would hurt European companies lots more than Chinese steel producers.
After a bad quarterly earnings report, the German industrial giant thyssenkrupp is at a crossroads. Some investors are pushing to smash the old company apart; its recent losses aren't helping to give it direction.
When it comes to venerable German business institutions, the industrial giant Thyssenkrupp is something of a poster boy. The Essen-based company is in turmoil though, as disagreements over job losses mount.
One of Germany's oldest industrial giants has agreed to a merger deal with one of India's biggest steelmakers. Thyssenkrupp sought the deal as a way to overcome challenges caused by cheap Chinese steel.
The chief executive of German steel giant thyssenkrupp, Heinrich Hiesinger, has asked the board to accept his resignation. The move came shortly after the company confirmed its planned deal with Tata Steel.
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