U.S President Biden blocks major steel takeover

Outgoing US President Joseph Biden has officially blocked a Japanese company from buying the United States Steel Corporation, warning that foreign ownership would pose a danger to national security. Nippon Steel, the fourth-largest steelmaker in the world, had bid close to $15 billion to purchase the once-iconic American industrial powerhouse. But that takeover is now on the brink of collapse, as Benji Hyer reports.