Nippon Steel & Sumitomo eyes more cost cuts …

TOKYO (Reuters) – The head of Nippon Steel & Sumitomo Metal Corp said the newly merged company forming the world’s second-biggest steelmaker will embark on further cost cutting in a bid to counter a slump in the price of the metal. The $22.45 billion (13.8 billion pounds) merger was forged last year after both companies had suffered several years of sliding profits, the result of a strong yen …
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