- Merger-Arbitrage Investors With Billions to Wager Await Next Wave of Mega-Deals
Jul 9, 2025
(Bloomberg) -- Merger arbitrage investors are finally enjoying gains again after their trading strategy resulted in some first-half windfalls. Now, with fresh billions to wager, all they need is a new wave of dealmaking.
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Since President Donald Trump’s return to the White House, several long-standing, high-profile transactions were completed, allowing traders who specialize on deals to pocket profits as they closed out their bets.
Large tie-ups from United States Steel Corp.’s purchase by Nippon Steel Corp. to Discover Financial Services’ combination with Capital One Financial Corp. crossed the finish line despite heightened scrutiny, helping investors lock in sizable gains and restore confidence in a more constructive regulatory backdrop. The Justice Department also settled its lawsuit challenging Hewlett Packard Enterprise Co.’s takeover of Juniper Networks Inc., removing a key hurdle.
“We had a lot of deals closed this year — quite a laundry list of monster deals that were either announced under the Biden administration or under the Trump administration, and we’ve still got others pending that could be lucrative,” said Matthew Osowiecki, a portfolio manager at Water Island Capital, which runs the Arbitrage Fund.
It marks a turnaround for merger arbitrage, which had languished near the bottom of hedge-fund style rankings last year. This year through May, the strategy gained 3.4% on average and much more in individual cases, making it one of the top performers of 2025, according to data compiled by Bloomberg. Winners include billionaire Dan Loeb’s Third Point LLC and Pentwater Capital Management, among others.
Now a new challenge looms. With more blockbuster deals closing than are being announced, there are fewer opportunities to place new bets.
Wall Street initially had high hopes of a massive deal boom following Trump’s win. But that momentum was dampened by sweeping policy measures, from tariffs to tax plans, prompting many dealmakers to adopt a wait-and-see stance. Takeover announcements involving US public companies totaled about $85 billion in the second quarter, down 37% from a year earlier, data compiled by Bloomberg show.
“Where have all the mega deals gone?,” said Louis Meyer, a merger arbitrage specialist at Square Global. “Most likely they are stuck in deal pipeline purgatory, waiting for an opportunity to rise and shine once the coast is clear.” The last big-ticket strategic deal of over $20 billion market value was Mars’ acquisition of Kellanova, which was announced about a year ago, he added.
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Meyer said he expects more “signature deals” as trade negotiations between the US and key partners get settled, perhaps by the fall. Already, there are positive signs, and bankers are growing more optimistic about the rest of 2025. And on a global basis, activity has picked up.
On Wednesday, drug giant Merck & Co. announced a deal to buy UK biotech firm and respiratory treatment maker Verona Pharma Plc for about $10 billion, representing one of its biggest acquisition in decades.
Earlier this week, tech firm CoreWeave Inc. agreed to buy data-center operator Core Scientific Inc. for $9 billion in an all-stock deal. Yet while expected by investors — it was identified as the most likely takeover candidate in a recent Bloomberg News survey of 16 merger-arbitrage and event-driven focused analysts and fund managers — most merger arbs aren’t trading the deal, given some complications around CoreWeave’s stock.
Deal-Friendly Environment
One favorable theme noted in the survey is the Trump administration’s greater willingness to resolve antitrust concerns through accepting structured remedies, such as required divestitures — opening the door for otherwise problematic deals to complete more quickly and predictably.
That’s a departure from Trump’s predecessors, who were more inclined to take controversial mergers to court. The Federal Trade Commission, for example, has recently cleared Synopsys Inc.’s acquisition of Ansys, as well as Omnicom Group’s proposed merger with Interpublic Group. In total, there have been more pre-litigation settlements in the first half year since Trump’s second term than during the final two years of Biden administration, according to data tracked by Jennifer Rie, senior litigation analyst at Bloomberg Intelligence.
“It’s a bullish sign that enforcers at the FTC and DOJ are more open to accepting structural remedies, returning to a more deal-friendly antitrust environment,” Rie said. Still, she cautioned that a full-scale return to the relaxed antitrust climate seen before Trump’s first term remains unlikely.
Even so, more than half of survey respondents expect deal flow to increase. They also cited easing tariff uncertainty and a strong stock market as potential catalysts. From the same poll, Papa John’s International Inc. and Forward Air Corp. were ranked among the top picks in the third quarter.
“Deal flow does seem to be a little better of late,” Water Island Capital’s Osowiecki said. “The pipeline looks robust. We’d like to see that play out.”
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- Nippon Steel Secures $5.56 Billion in Loans to Fund US Steel Acquisition
Jul 3, 2025
Nippon Steel aims to raise 800 billion yen ($5.56 billion) in two separate subordinated loans to hel
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- Nippon Steel to raise $5.6 billion in subordinated loans to fund U.S. Steel deal
Jul 3, 2025
By Yuka Obayashi
TOKYO (Reuters) -Japan's Nippon Steel said on Wednesday it would raise 800 billion yen ($5.6 billion) through two subordinated loans to partially fund its recent $14.9 billion acquisition of U.S. Steel and refinance previous loans.
Japan's biggest steelmaker will use a 500 billion yen subordinated loan to partially repay a 2 trillion yen bridge loan secured in June for the deal. A separate 300 billion yen loan will refinance a previous 450 billion yen subordinated loan.
The 500 billion yen loan will be covered by Japan's three megabanks - Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group - as well as by Sumitomo Mitsui Trust Group and Development Bank of Japan by September 18, a Nippon Steel spokesperson said.
The 300 billion yen portion will come from four banks - the three megabanks and Sumitomo Mitsui Trust - on July 22.
The remaining 1.5 trillion yen of the bridge loan will be financed through a combination of methods, based on an assessment of interest rates, market conditions and other factors, the spokesperson said.
"While additional capital-based financing is among the options under consideration, any such move would be based on the principle of avoiding earnings-per-share (EPS) dilution," the spokesperson said.
Following the acquisition, Nippon Steel's debt-to-equity ratio rose to about 0.8 from 0.35 as of March 31 due to the bridge loans and a loss on the sale of its stake in a U.S. joint venture with ArcelorMittal.
Nippon Steel decided to sell its joint venture stake to help get approval for the U.S. Steel acquisition.
The company aims to bring the ratio down to the 0.7 range by the end of March 2026 through measures such as cash flow from earnings and asset sales.
($1 = 143.9000 yen)
(Reporting by Yuka Obayashi; Editing by Tom Hogue)
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- Trump’s 35% Tariff Threat Feeds Japan’s Worst-Case Scenario Fear
Jul 2, 2025
(Bloomberg) — US President Donald Trump threatened Japan with tariffs of up to 35% as he ramped up tensions for a third straight day, fueling fears of a worst-case scenario among market players and raising doubts over Tokyo’s tactics in trade talks.
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Japan should be forced to “pay 30%, 35% or whatever the number is that we determine, because we also have a very big trade deficit with Japan,” Trump said, again flagging the possibility that across-the-board tariffs could go much higher than the 24% initially penciled in for July 9. “I’m not sure we’re going to make a deal. I doubt it with Japan, they’re very tough. You have to understand, they’re very spoiled.”
Market participants and analysts warned against taking Trump’s comments at face value and suggested that some kind of deal will eventually get done. But they also warned that Prime Minister Shigeru Ishiba’s government may need to change tack from a friendly and firm stance that is now leading the two sides to brinkmanship.
“There is some risk of a US tantrum that results in higher punitive actions by Washington this month,” said Kurt Tong, a former senior US diplomat in Asia who’s now a managing partner at the Asia Group. “If that happens, Japan may have no choice but to hit back with its own specific countermeasures.”
Trump’s latest threat fits in with a high-pressure deal-making strategy that sometimes results in big last-minute concessions on both sides, as seen with China, but market players still need to game out how to position themselves should talks founder.
While few analysts see Japan’s stocks collapsing on a no-deal scenario, some of them forecast the Nikkei 225 to fall into the 38,000 range, a decline of more than 4%, rather than rallying above 40,000 if there’s an agreement.
The Nikkei 225 (^N225) edged down 0.6% to close at 39,762 on Wednesday while the yen was trading at 143.88 against the dollar, down around 0.3%.
Japan has so far stood firm in negotiations over across-the-board reciprocal tariffs, insisting that they be removed along with additional sectoral tariffs on autos, steel and aluminum. The car duties are particularly painful for Japan as the industry contributes the equivalent of almost 10% of gross domestic product and employs around 8% of the workforce.
Tokyo has insisted that a “win-win” deal must encompass all the tariffs in one go with Ishiba preferring no deal to a bad deal ahead of a July 20 upper house election. The prime minister on Wednesday reiterated his view that focusing on jobs and investment in the US was the way forward, just like it was for Nippon Steel (NPSCY, NISTF) as it patiently sought to change Trump’s view and take over US Steel.
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“Japan is the biggest global investor in the US and the world’s biggest contributor to US jobs,” Ishiba said in Tokyo on Wednesday. “That means Japan is different from other countries.”
But as July 9 gets closer, some observers say more needs to be done to convince the US to back off.
“We have to work on Trump himself, to first try to avoid the tariffs to be imposed from July 9,” said Ichiro Fujisaki, former Japanese ambassador to the US, adding that the president’s remarks show that Tokyo hasn’t brought enough to the table yet.
“We don’t have something like rare earths but the US is dependent on Japanese industry as well. About half of materials for making semiconductors come from Japanese industry,” Fujisaki said, pointing to a possible area of leverage, too.
In the meantime, market players are evaluating the potential scale of the fallout.
“There is a lot more risk of things falling apart than is being priced in by the market,” said Zuhair Khan, a fund manager at UBP Investments. “There is always the risk of a policy blunder by either side.”
He points to the 32,000 Nikkei level on the day Trump first announced the reciprocal tariffs. “If the probability of a no deal is 25% then the Nikkei should be at 38,000.”
What Bloomberg Economics Says...
“If Japan is ultimately forced to pay reciprocal tariffs at those rates, on top of the 24% rate announced on ‘Liberation Day’ — currently suspended at 10% — the macroeconomic fallout would be sizable. Our estimate through a model of global trade suggests a medium-term GDP hit of around 1.2%, roughly double the 0.6% drag expected under the current levy.”
— Taro Kimura, economist
For the full report, click here.
The point of imposing a deadline in negotiations is to create an opportunity for leverage, so it’s not surprising to see Trump pushing high tariffs as a threat to push for better deals as the date approaches, said Phillip Wool, head of portfolio management at Rayliant Global Advisors Ltd.
“There’s also an element of political theater here, as Trump’s narrative to American voters is that the US has been bullied on trade for so long, and there’s clearly a desire to look ‘tough’ on trade,” Wool said. “But there has to be a face-saving deal at some point so that it looks like the negotiation was truly a success as opposed to the mutually assured destruction of impasse and perpetually high tariffs.”
Like some other market players, Wool is wary of an overly pessimistic knee-jerk response to each remark Trump makes. If there is a big selloff in a worst-case scenario, Wool sees it as a great buying opportunity for long-term, active investors.
Strategists are split on how a bad scenario might play out for the yen. While some such as SBI Liquidity Market Co.’s Marito Ueda see the possibility of risk aversion sparking a strengthening of Japan’s currency to the 138 range against the dollar, others see a weakening as more likely.
A stalemate in trade talks would likely delay the Bank of Japan’s (8301.T) next interest rate hike, especially if it led to tariffs of up to 35% in the meantime, said Akira Moroga, chief market strategist at Aozora Bank. Movement would slow after the 145 mark, making a push past 147 difficult, he said.
Still, the consensus is that a deal will be reached sooner or later, and that Japan will have to concede more ground to achieve it.
“If it’s concluded I don’t think it’s going to be a win-win situation,” said Fujisaki. “Maybe a capital-letter ‘WIN’ for US, but a small letter ‘win’ for Japan.”
—With assistance from Momoka Yokoyama, Toshiro Hasegawa, Umesh Desai, Hidenori Yamanaka, Mari Kiyohara, Aya Wagatsuma and Akemi Terukina.
(Updates with comments from premier and analyst)
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- Newly Approved NIPSCO Electric Rates Support Safety, Reliability and Customer Programs
Jun 26, 2025
MERRILLVILLE, Ind., June 26, 2025--(BUSINESS WIRE)--Northern Indiana Public Service Company LLC (NIPSCO) received approval from the Indiana Utility Regulatory Commission (IURC) to adjust its electric rates. The newly approved rates will be phased in over multiple steps beginning in July through the beginning of 2026 to spread out the changes to customers.
A Collaborative Process
The approved changes reflect a collaborative agreement among NIPSCO, the Indiana Office of Utility Consumer Counselor (OUCC) and other key stakeholders, including NLMK Indiana, United States Steel Corporation, Walmart Inc., the RV Industry User’s Group and the NIPSCO Industrial Group.
"NIPSCO is committed to connecting our customers with safe and reliable energy that add value to their everyday lives," said Vince Parisi, NIPSCO President and Chief Operating Officer. "We’re proud of the collaborative outcome reached through this process, which balances the need for critical investments with the importance of minimizing the impact on our customers. We understand that any increase in bills is significant, and we remain focused on supporting our customers through this transition with new assistance programs and continued improvements to service and reliability."
The IURC decision follows a nearly year-long, extensive review process, which included public input.
Investing in a Safe, Reliable and Sustainable Future
The rate adjustment supports more than $2 billion in capital investments to transition NIPSCO’s electric generation to a more balanced generation portfolio, which is expected to deliver long-term savings and environmental benefits. An additional $769.5 million will fund critical infrastructure upgrades, including replacing aging poles and lines, constructing new substations, and modernizing the electric grid to improve reliability and reduce outage durations.
How will residential customer bills change?
The average residential electric customer using 672 kilowatt-hours (kWh) per month will see an increase of approximately $23 per month, or 16.75%, phased in over multiple steps beginning in July through Q1 2026. This is a reduction from the originally proposed increase of $32 per month.
Actual projected bill impacts may vary by customer, including nonresidential customers, depending on usage and future potential changes in market prices.
Customer Benefits and Assistance Programs
NIPSCO’s investments have already led to a 40% reduction in power outage durations and improved system resilience. The company has replaced over 300 miles of aging underground cable and treated more than 300,000 wood poles to strengthen the grid. Customers also benefit from energy-efficiency programs, enhanced digital tools and a commitment to return 100% of revenues from excess power sales back to customers.
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A newly-approved customer assistance program includes bill payment assistance for income-qualified electric customers, fully funded by NIPSCO, as well as elimination of deposits for income-qualified gas and electric customers and waiver of certain reconnection charges for all electric customers.
Along with the new bill payment assistance program, available to customers beginning next year, and beyond the existing state and federal energy assistance programs and moratoriums on winter service disconnections, NIPSCO provides credit arrangements, budget plans and reduced deposits for eligible customers, including:
Payment Agreements: NIPSCO has expanded its payment plan agreements to offer its most flexible payment plans to customers who need financial support, including three-, six- and 12-month plans. Customers can learn more and enroll at NIPSCO.com/PaymentPlans. Low Income Home Energy Assistance Program (LIHEAP): LIHEAP support is available to households that are at or below 60% of the State Median Income (SMI). The program opens on Oct. 1 for online and mail-in applications. Customers can learn more and find out if they qualify at eap.ihcda.in.gov or by calling 2-1-1. Township Trustees: A limited amount of energy assistance funds are available through local Township Trustee offices. NIPSCO customers are encouraged to contact their local Township Trustee to see what help may be available. Budget Plan: The budget plan is a free service to all NIPSCO customers to help manage their monthly energy bills by spreading out electric costs over an entire year. Learn more at NIPSCO.com/budget.
As always, any customer experiencing difficulty with paying their bill, regardless of their income, are encouraged to contact NIPSCO’s Customer Care Center from Monday through Friday between 7 a.m. and 7 p.m. CT at 1-800-464-7726 to determine what help might be available to them. For more information on bill assistance, customers can visit NIPSCO.com/FinancialSupport.
In addition to offering a variety of payment assistance options, NIPSCO offers a number of energy efficiency programs to help lower energy usage and bills. Visit NIPSCO.com/Save for more information on available programs and other ways to save.
Learn more about NIPSCO’s rates at NIPSCO.com/2025electricrates.
About NIPSCO:
Northern Indiana Public Service Company LLC (NIPSCO), with headquarters in Merrillville, Indiana, has proudly served the energy needs of northern Indiana for more than 100 years. As Indiana’s largest natural gas distribution company and the second-largest electric distribution company, NIPSCO serves approximately 900,000 natural gas and 500,000 electric customers across 32 counties. NIPSCO is part of NiSource’s (NYSE: NI) six regulated utility companies. NiSource is one of the largest fully regulated utility companies in the United States, serving approximately 3.8 million natural gas and electric customers through its local Columbia Gas and NIPSCO brands. More information about NIPSCO and NiSource is available at NIPSCO.com and NiSource.com.
Forward-Looking Statements
This Press Release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Investors and prospective investors should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized. Any one of those factors could cause actual results to differ materially from those projected. Forward-looking statements in this press release include, but are not limited to, statements concerning our guidance on adjusted EPS, plans, strategies, objectives, expected performance, expenditures, recovery of expenditures through rates, stated on either a consolidated or segment basis, and any and all underlying assumptions and other statements that are other than statements of historical fact. Expressions of future goals and expectations and similar expressions, including "may," "will," "should," "could," "would," "aims," "seeks," "expects," "plans," "anticipates," "intends," "believes," "estimates," "predicts," "potential," "targets," "forecast," and "continue," reflecting something other than historical fact are intended to identify forward-looking statements. All forward-looking statements are based on assumptions that management believes to be reasonable; however, there can be no assurance that actual results will not differ materially.
Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed in this Press Release include, among other things: our ability to execute our business plan or growth strategy, including utility infrastructure investments, or business opportunities, such as data center development and related generation sources and transmission capabilities to meet potential load growth; our ability to manage data center growth in our service territories; potential incidents and other operating risks associated with our business; our ability to work successfully with our third-party investors; our ability to adapt to, and manage costs related to, advances in technology, including alternative energy sources and changes in laws and regulations; our increased dependency on technology; impacts related to our aging infrastructure; our ability to obtain sufficient insurance coverage and whether such coverage will protect us against significant losses; the success of our electric generation strategy; construction risks and supply risks; fluctuations in demand from residential and commercial customers; fluctuations in the price of energy commodities and related transportation costs or an inability to obtain an adequate, reliable and cost-effective fuel supply to meet customer demand; our ability to attract, retain or re-skill a qualified, diverse workforce and maintain good labor relations; our ability to manage new initiatives and organizational changes; the performance and quality of third-party suppliers and service providers; our ability to manage the financial and operational risks related to achieving our carbon emission reduction goals, including our Net Zero Goal (as defined below), including any future associated impact from business opportunities such as data center development as those opportunities evolve; potential cybersecurity attacks or security breaches; increased requirements and costs related to cybersecurity; the actions of activist stockholders; any damage to our reputation; the impacts of natural disasters, potential terrorist attacks or other catastrophic events; the physical impacts of climate change and the transition to a lower carbon future; our debt obligations; any changes to our credit rating or the credit rating of certain of our subsidiaries; adverse economic and capital market conditions, including increases in inflation or interest rates, recession, or changes in investor sentiment; economic regulation and the impact of regulatory rate reviews; our ability to obtain expected financial or regulatory outcomes; economic conditions in certain industries; the reliability of customers and suppliers to fulfill their payment and contractual obligations; the ability of our subsidiaries to generate cash; pension funding obligations; potential impairments of goodwill; the outcome of legal and regulatory proceedings, investigations, incidents, claims and litigation; compliance with changes in, or new interpretations of applicable laws, regulations and tariffs, including impacts of state and federal orders on our ability to carry out our business plan and growth strategy; the cost of compliance with environmental laws and regulations and the costs of associated liabilities; changes in tax laws or the interpretation thereof; and other matters set forth in Item 1, "Business," Item 1A, "Risk Factors" and Part II, Item 7, "Management’s Discussion and Analysis of Financial Condition and Results of Operations," of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and matters set forth in our subsequent Quarterly Reports on Form 10-Q, some of which risks are beyond our control. In addition, the relative contributions to profitability by each business segment, and the assumptions underlying the forward-looking statements relating thereto, may change over time.
All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligation to, and expressly disclaim any such obligation to, update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events or changes to the future results over time or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250626145335/en/
Contacts
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- Trump gets 'golden share' power in US Steel buyout. US agencies will get it under future presidents
Jun 25, 2025
HARRISBURG, Pa. (AP) — President Donald Trump will control the so-called “golden share” that's part of the national security agreement under which he allowed Japan-based Nippon Steel to buy out iconic American steelmaker U.S. Steel, according to disclosures with the U.S. Securities and Exchange Commission.
The provision gives the president the power to appoint a board member and have a say in company decisions that affect domestic steel production and competition with overseas producers.
Under the provision, Trump — or someone he designates — controls that decision-making power while he is president. However, control over those powers reverts to the Treasury Department and the Commerce Department when anyone else is president, according to the filings.
The White House didn't immediately respond to questions Wednesday about why Trump will directly control the decision-making and why it goes to the Treasury and Commerce departments under future presidents.
Nippon Steel's nearly $15 billion buyout of Pittsburgh-based U.S. Steel became final last week, making U.S. Steel a wholly owned subsidiary.
Trump has sought to characterize the acquisition as a "partnership" between the two companies after he at first vowed to block the deal — as former President Joe Biden did on his way out of the White House — before changing his mind after he became president.
The national security agreement became effective June 13 and is between Nippon Steel, as well as its American subsidiary, and the federal government, represented by the departments of Commerce and Treasury, according to the disclosures.
The complete national security agreement hasn't been published publicly, although aspects of it have been outlined in statements and securities filings made by the companies, U.S. Steel said Wednesday.
The pursuit by Nippon Steel dragged on for a year and-a-half, weighed down by national security concerns, opposition by the United Steelworkers and presidential politics in the premier battleground state of Pennsylvania, where U.S. Steel is headquartered.
The combined company will become the world’s fourth-largest steelmaker in an industry dominated by Chinese companies, and bring what analysts say is Nippon Steel’s top-notch technology to U.S. Steel’s antiquated steelmaking processes, plus a commitment to invest $11 billion to upgrade U.S. Steel facilities.
The potential that the deal could be permanently blocked forced Nippon Steel to sweeten the deal.
That included upping its capital commitments in U.S. Steel facilities and adding the golden share provision, giving Trump the right to appoint an independent director and veto power on specific matters.
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Those matters include reductions in Nippon Steel’s capital commitments in the national security agreement; changing U.S. Steel’s name and headquarters; closing or idling U.S. Steel’s plants; transferring production or jobs outside of the U.S.; buying competing businesses in the U.S.; and certain decisions on trade, labor and sourcing outside the U.S.
___
Follow Marc Levy on X at: https://x.com/timelywriter.
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- Tarvis Celebrates Voice Actor Genevieve Baer's Telly Award Win and Recognition as a Community Champion by the Building Doors Campaign
Jun 25, 2025
Recognizing a standout year of impact, influence, and industry honors for a voice that's redefining the standard
ORLANDO, FL / ACCESS Newswire / June 25, 2025 / Tarvis, a consulting firm that helps creative professionals elevate their brand presence and connect with wider audiences, proudly announces a double milestone for voice actor and client Genevieve Baer: a 2025 Telly Award for her narration work with U.S. Steel and her recent selection as a Community Champion by the Building Doors Campaign, a national initiative amplifying women in voiceover.
Baer's Telly Award honors her performance in a U.S. Steel commercial that was originally written with a male voice in mind. Her compelling audition not only shifted that narrative-it helped redefine expectations in a traditionally male-dominated sector. The final spot won Silver in the Craft: Narration category for Best TV Commercial Voiceover.
On June 25th, the Building Doors campaign will spotlight Baer as one of just seven Community Champions for 2025. Created by voiceover talent and advocate Christy Harst, the campaign recognizes women "building doors and breaking barriers" in fields where representation still lags. Baer's featured work includes the very U.S. Steel spot that earned her the Telly nod, further underscoring the reach and relevance of her voice.
"It's rare to find someone whose voice carries strength, clarity, and humanity in equal measure-but that's exactly what Genevieve brings to every project," said Karin Barth, Director of Operations at Tarvis. "Her wins are so much more than personal achievements-they're industry-shifting moments that show the value of choosing authenticity over convention."
Baer's work in 2024 has also earned her a nomination for Female Voice Actor of the Year at the One Voice Awards. The nomination recognizes a standout compilation of voiceover work across genres and is considered one of the most competitive honors in the industry. Winners will be announced this August.
Genevieve Baer is a full-time voice actor and owner of GB Voice. Her studio work spans promos, narration, animation, and national commercial campaigns, with a client list that includes brands in healthcare, finance, manufacturing, and more. To learn more, visit https://www.gbvoice.com.
To learn more about the Building Doors campaign, visit https://www.buildingdoorsvo.com.
To learn more about Tarvis, visit: https://www.tarvis.com
Contact Information
Veronica Green
Communications Manager
press@tarvis.com
716-759-4636
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SOURCE: Tarvis
View the original press release on ACCESS Newswire
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- US first-quarter foreign direct investment falls sharply amid tariff uncertainty
Jun 24, 2025
By David Lawder
WASHINGTON (Reuters) -Foreign direct investment into the U.S. fell sharply in the first quarter to $52.8 billion from a downwardly revised $79.9 billion in the fourth quarter of 2024, the Commerce Department said on Tuesday, a drop that coincided with high business uncertainty over President Donald Trump's tariff plans.
The fall could prove temporary, as billions of dollars worth of foreign firms' announced U.S. manufacturing projects get underway and Nippon Steel's nearly $15 billion acquisition of U.S. Steel adds to current and future quarters' data.
The lower first-quarter FDI inflows contributed to a widening of the U.S. current account deficit to a record high of $450.2 billion as businesses front-loaded imports ahead of Trump's steep tariffs.
The Commerce Department's Bureau of Economic Analysis also said current account data for the fourth quarter was revised to show the gap at $312.0 billion instead of $303.9 billion as previously reported.
The current account data measures the net flow of goods, services and investments into and out of the country. A large and persistent U.S. trade deficit has traditionally been partly offset by investment inflows into U.S. financial assets and foreign direct investment, which includes plant and equipment, corporate mergers and acquisitions.
The first-quarter FDI inflows were the lowest in dollar terms since the $42.4 billion recorded in the fourth quarter of 2022, a period coinciding with high post-pandemic inflation.
Except for that drop, quarterly FDI since the easing of the COVID-19 pandemic had been recorded above $61 billion, with a peak of $135 billion in the third quarter of 2021, according to Commerce Department data.
Economists have warned that extreme uncertainty over Trump's tariffs could paralyze investment decisions by companies and slow economic growth. Trump has argued that his tariffs are prompting an investment rush by companies seeking to bring manufacturing back to the U.S. to avoid tariffs.
Paul Ashworth, chief North American economist at Capital Economics, said it was possible that uncertainty could be impacting some investment decisions but cautioned that quarterly FDI is inherently volatile, driven by specific transactions such as mergers, acquisitions and big projects.
"It's probably noise, rather than signaling something more dramatic or serious about FDI coming into the U.S.," Ashworth said of the first-quarter data.
He said he expected FDI to increase in future quarters as U.S. manufacturing investment projects announced by Japanese and other foreign automakers get started.
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South Korea's Hyundai Motor and Hyundai Steel in April announced $21 billion worth of new U.S. manufacturing investments alongside Trump in the White House. Nippon Steel's hard-fought $14.9 billion acquisition of U.S. Steel closed last week and will show up in second-quarter inflows.
"If anything, I'd expect FDI to be going up," Ashworth added.
(Reporting by David Lawder; Editing by Andrea Ricci)
- U.S. Steel names Kevin Lewis as CFO
Jun 24, 2025
(Reuters) -U.S. Steel said on Tuesday Kevin Lewis would replace CFO Jessica Graziano effective immediately, days after the steelmaker closed its sale to Japan's Nippon Steel.
Graziano, who has spent nearly three years at the company, would stay on as a special advisor until July 18 to aid with the transition, U.S. Steel said.
Lewis who joined the Pittsburgh-based steelmaker 17 years ago, has held key positions across finance, strategy and investor relations.
The company also appointed Scot Duncan as senior vice president, general counsel and secretary, effective immediately.
The move comes after Nippon Steel completed its $14.9-billion acquisition of U.S. Steel last week, marking the end to an 18-month regulatory battle.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shinjini Ganguli)
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