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WASHINGTON — A new US & Australia agreement on critical minerals backed by President Donald Trump is being hailed as a significant boost for Western mining ambitions, but analysts warn that it will take years to loosen China’s stranglehold over the global rare earth supply chain. Announced Monday, the deal commits $3 billion in joint … Read more
BEIJING ~ China’s new home prices dropped at their sharpest pace in almost a year in September, heightening concerns over the country’s prolonged property downturn and its broader economic impact. Official figures released Monday showed a 0.4 percent month on month fall the steepest decline in 11 months following a 0.3 percent drop in August. … Read more
Millions of Americans gathered across the United States on Saturday in what organizers described as one of the largest coordinated demonstrations of the year, protesting what they view as former President Donald Trump’s growing “authoritarian” influence. The nationwide “No Kings” rallies drew nearly seven million participants in more than 2,700 locations, from major cities to … Read more
Beijing — China’s economy likely expanded at the slowest pace in a year during the third quarter, signaling that the world’s second largest economy continues to lose momentum even as exports surge, according to analysts and preliminary government data. Economists expect gross domestic product to have risen 4.7 percent in the three months through September … Read more
Gold prices surged past $4,300 an ounce on Friday, heading for their largest weekly gain since December 2008, driven by rising geopolitical tensions, expectations of US interest rate cuts, and lingering concerns about regional banking stability. Spot gold rose 0.2% to $4,332.17 per ounce as of 1100 GMT after reaching an intraday record of $4,378.69. … Read more
WASHINGTON — Western powers are tightening diplomatic and economic pressure on India and China to scale back purchases of Russian oil, as the United States and the United Kingdom move to further isolate Moscow over its war in Ukraine. US President Donald Trump said Wednesday that India had agreed to stop buying Russian crude, a … Read more
TAIPEI, Taiwan — Taiwan Semiconductor Manufacturing Co. (TSMC) reported a nearly 40% jump in net profit for the July September quarter, propelled by the surging global demand for artificial intelligence chips and resilient semiconductor sales to major clients including Apple and Nvidia. The company, the world’s largest contract chipmaker, posted a record net profit of … Read more
BEIJING — China’s state media on Thursday published a seven point rebuttal to US criticism over its new rare earth export controls, pushing back against accusations that the measures amount to an economic power play. The exchange marks the latest flashpoint in a widening dispute between Washington and Beijing over critical minerals and trade policy, … Read more
Global markets today climbed on Wednesday as investors reacted to dovish remarks from US Federal Reserve Chair Jerome Powell and strong quarterly results from major Wall Street banks. The US dollar weakened while European and Asian equities rebounded after a turbulent start to the week driven by escalating US China trade tensions. Market optimism returned … Read more
TAIPEI — Taiwan’s Foxconn said Wednesday it expects little immediate disruption from China’s newly expanded rare earth export restrictions, though company officials warned that prolonged trade tensions could eventually affect global industries. “If the ongoing restrictions continue to escalate tensions, it will impact industries across the board, not just Foxconn,” Chairman Young Liu told reporters … Read more