U.S. Sen. David McCormick said Tuesday that an arrangement that will allow Japan-based Nippon Steel to invest in U.S. Steel will guarantee an American CEO, a majority of board members from the United ...

Nippon Steel also had pledged not to conduct layoffs or plant closings as a result of the transaction and to protect the best interests of U.S. Steel in trade matters.

European shares rose sharply on Monday, poised to recoup the previous session's losses on relief after U.S. President Donald Trump delayed his threat to impose a 50% tariff on the region.