U.S. Steel says plants may close if Nippon deal nixed
U.S. Steel, which has a mill in Fairfield, says it may close U.S. steel mills if a planned $14.1 billion sale to Nippon Steel doesn’t happen. David Burritt, chief executive of U.S. Steel, told The Wall Street Journal the Japanese company has pledged to invest $3 billion in older mills. – AL.com
United Bancorporation merges subsidiaries
United Bancorporation of Alabama will merge its banking subsidiaries Town-Country United Bank and United Bank effective Oct. 1. After the merger, United Bank will have about $1.3 billion in assets, including 19 full-service branches and four loan production offices in Alabama and Florida. – PR Newswire
Montgomery hospital defaults on bond payments
Montgomery’s Jackson Hospital & Clinic has defaulted on $60 million worth of bonds, leading S&P Global to lower its bond rating to D. The Medical Clinic Board of the City of Montgomery series 2015 bonds comprise about 86% of the hospital’s long-term debt. – AL.com
Alabama home to one of top utilities per national magazine
Southeast Gas, based in Andalusia, has landed on the list of top 20 utilities in the country as chosen by Site Selection Magazine. Criteria for the list include corporate project investment and job creation. – Alabama Political Reporter
