⛏ Steel yourself for this news

US Steel rejected a takeover bid | The rouble's in trouble | [Finimize]( Hi {NAME}, here's what you need to know for August 15th in 3:09 minutes. 🛞 The wheels of finance are always turning. So join Robert Stammers for [Exploring Disruption In The Investment Industry]( on this Tuesday, August 15th, and find out how fintech firms are rewriting the rules of investing. [Get your free ticket]( Today's big stories - US Steel turned down a takeover offer from its rival – but that might not be the end of the story - Here’s how to decide whether to buy a home now – [Read Now]( - Russia’s ruble is looking pretty rundown Beg, Borrow, Or Steel [Beg, Borrow, Or Steel] What’s going on here? US Steel Corporation [rejected]( a takeover bid from rival firm Cleveland-Cliffs. What does this mean? After snapping up AK Steel and the US arm of European steel giant ArcelorMittal in recent years, Cleveland-Cliffs has cemented its position in the lucrative steel-for-autos sector in the US. And it seems the firm’s not content to rest on those laurels: Cleveland-Cliffs just made a bold move for US Steel too, with a tempting offer valued at $7.25 billion – a hefty 43% above US Steel’s pre-offer market value. But the firm wasn’t easily swayed: US Steel ultimately said, “Thanks, but no thanks,” and announced it’s launching a formal process to weigh up its options instead. Why should I care? Zooming in: Steeling a march on competitors. The story might still have some chapters left. See, US Steel’s recent allure has attracted multiple bids, suggesting the firm’s a sought-after asset in the industry. And while Cleveland-Cliffs’ initial overture was rebuffed, it might be gearing up for another attempt. After all, a successful merger would create a formidable entity to challenge global frontrunners in the steel industry. Plus, with control over a significant chunk of US iron ore reserves, the firm would be well-positioned to capitalize on the government’s green infrastructure and manufacturing initiatives. Mind you, though, that very dominance could prove a sticking point in the eyes of US competition watchdogs… The bigger picture: Painless steel. The polluting steel world’s feeling the heat to go green, and US Steel’s been making strides in that direction. The firm’s been pushing investment to more eco-friendly “electric arc furnaces” – efficient plants that remelt scrap and turn it into steel. Cleveland-Cliffs, on the other hand, has been a tad old-school with its methods to date. And that means that US Steel might be the firm’s ticket not just to market muscle – but to greener and cleaner steel too. You might also like: [A $3 trillion boom is coming. And you might want to get in on it.]( Copy to share story: [/beg-borrow-or-steel]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Beg, Borrow, Or Steel&utm_campaign=daily-global-15-08-2023&utm_source=email) Analyst Take The Chill In The Housing Market Might Have You Wondering If It’s Time To Buy [The Chill In The Housing Market Might Have You Wondering If It’s Time To Buy]( By Theodora Lee Joseph, Analyst Interest rates are at 20-year highs across several advanced economies and some fiercely competitive real-estate markets have [finally started to soften](. And that might have you thinking that now is the [time to buy](. Owning your home is attractive [for many reasons](, but it might not always be the best option for your money. That’s today’s Insight: [how to figure out whether it’s a good time to buy a house.]( [Read or listen to the Insight here]( In Deep Ruble [In Deep Ruble] What’s going on here? Russia’s currency has [dipped]( to a 16-month low against the US dollar. What does this mean? Ever since Russia invaded Ukraine, the ruble has been on a bumpy ride. First, it took a dramatic plunge, bottoming out at record lows against the dollar. But then the tables turned – and booming energy revenues helped lift it to a short-lived seven-year peak. Now, though, a bunch of factors are weighing the currency down again: two biggies are the government’s lavish defense spending and dwindling export revenues as Europe shifts away from Russian energy. And then there’s the fact that international sanctions mean no one wants to hold rubles – not even Russians, who’ve been racing to convert their cash into foreign currencies. Plus, while the central bank’s aggressive rate cuts (from 20% to 7.5%) might’ve seemed savvy last year, they’ve only added to the currency’s troubles. The outcome: the ruble’s taken a 25% hit this year, and was left languishing at a 16-month low against the US dollar on Monday. Why should I care? For markets: Interesting times. While there’s a laundry list of reasons for the ruble’s recent tumble, fingers are mostly pointing at the central bank. The emerging consensus: it needs to hike interest rates, and fast, to give the currency a leg up. But that move’s no silver bullet, and it could backfire on Russia’s broader economy. Think stunted growth and pricier loans for companies and the government – especially troubling given Russia’s hefty military bills. The bigger picture: Only fuels Russian. Still, there’s some hope for Russia. A recent uptick in oil prices has helped its all-important oil and gas export revenue begin to rebound. And this sunny spell might stick around: Goldman’s crystal ball [predicts]( oil prices will hover around their current mark this year, and nudge up to $93 a barrel by mid-2024. You might also like: [Investing in the oil and gas industry in good times and bad.]( Copy to share story: [/deep-ruble]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=In Deep Ruble&utm_campaign=daily-global-15-08-2023&utm_source=email) 🪧 Forget the billboards Old-school tactics won't engage [modern investors](. Capturing the attention of clued-in whippersnappers takes something a little [more up-to-date]( – like a [promotional partnership]( with Finimize. [Book A Demo]( 💬 Quote of the day "Whatever you do, always give 100%. Unless you're donating blood.” – Bill Murray (an American actor and comedian) [Tweet this]( SPONSORED BY ALLBRICKS The challenger bank of the property market Challenger banks have transformed the way we do banking. And now [Allbricks]( has taken on the mission of remodeling the property market, making it possible for investors to [buy into the private rental market for as little as £2,000](. By [picking up “bricks” of multiple homes]( on Allbricks, you can build a [portfolio of properties](, spreading your risk, diversifying, and making a portion of the rental income all at the same time. All that, in [a platform co-designed with legal counsel]( – and without any of the traditional headaches of home ownership, like directly dealing with tenants or managing the property. [Discover a new way to invest in property with Allbricks](. DisclaimerCapital at risk – Investments may go up or down. Investment decisions must be based on definitive documentation and your own independent research. Any past performance referenced is not an indicator of future performance. [Find Out More]( When you support our sponsors, you support us. Thanks for that. 🎯 On Our Radar 1. Bite-sized history. A 17th-century Polish necropolis [holds]( a "vampire" child. 2. AI-enhanced investing is here. Unlock the [control of a brokerage, smarts of AI, and guidance of an advisor with Magnifi.](* 3. Deserted discoveries. Egypt's ancient sands [were hiding]( a 41-million-year-old whale tale. 4. Focus fiasco. Let’s reclaim our [attention spans](. 5. Tech titans tiff. Zuckerberg said it's [time to move on]( from the Musk feud. When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🥳 Coming Up In The Next Week... All events in UK time. 📍 [Exploring Disruption In The Investment Industry](: 5pm, August 15th And After That... 🌎 [How To Invest Like Warren Buffett](: 1pm, August 22nd 🚀 [Building Investment Platforms For The Modern Era](: 5pm, August 23rd 🎉 [Modern Investor Summit 2023](: 12pm, December 5th and 6th ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? [Get in touch]( Image Credits: Image credits: Apple emoji, Midjourney | Midjourney, Deacons docs Shutterstock Preferences: [Update your email]( or [change preferences]( [View in browser]( [Unsubscribe]( from all Finimize Emails 😴 Crafted by Finimize Ltd. | 280 Bishopsgate, London, EC2M 4AG All content provided by Finimize Ltd. is for informational and educational purposes only and is not meant to represent trade or investment recommendations. 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