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US says 'non-market' tactics needed to counter China's rare earth dominance
G7 countries will have to use "non-market" tactics to curb China's dominance in rare earth production, the US energy secretary said Friday, calling the effort a "strategic necessity." Canada's Energy Minister Tim Hodgson, who is hosting the meeting which ends on Friday, said the G7 is aiming to launch a new alliance to upend the global supply of critical minerals, including rare earths.
China's suspension of rare earth controls applies to EU: official
The EU's commissioner for trade on Friday said China's one-year suspension on its restrictions of rare earth materials would apply to the bloc as well as the United States. Following discussions with the United States, China on Thursday said it would suspend certain export restrictions announced in October, including on rare earth materials, for one year.
Italy complains about strong euro, urges ECB to cut rates
Italy's foreign minister called on the European Central Bank on Friday to reduce interest rates to weaken the euro, warning its strength was hurting his country's exporters.
AI giants turn to massive debt to finance tech race
Meta raised $30 billion in debt on Thursday, as tech giants flush with cash turn to borrowing to finance the expensive race to lead in artificial intelligence. The trend toward debt is new for internet giants long accustomed to having ample cash flow to pay for what they want.
Shein set to open first physical store in Paris
Controversial online fast-fashion seller Shein will open its first bricks and mortar store in the world in Paris next week, its new landlord announced Friday. Since the Shein announcement was made Disneyland Paris has abandoned plans to open a pop-up store in BHV while workers at the Paris store have staged a strike over the plan.
Nvidia to supply 260,000 cutting-edge chips to South Korea
US tech giant Nvidia said on Friday it will supply 260,000 of its most cutting-edge chips to South Korea, as CEO Jensen Huang met President Lee Jae Myung and the heads of Korea's biggest companies on the sidelines of the APEC summit. - Chicken and chips - Huang has sought to forge closer ties with South Korean tech giants in his visit to the country this week.
Asia markets mostly up on heels of Apple, Amazon earnings
Asian stock markets mostly rose Friday morning, with a surge in Japanese shares coming after better-than-expected earnings reports from US tech behemoths Apple and Amazon. Amazon also reported earnings that were better than expected, driven by surging demand for its cloud computing services.
Caught between Venezuela and US, Trinidad fishermen fear the sea
A stone's throw from Venezuela, in the eye of a political storm fueled by a US naval deployment, fishermen from the archipelago of Trinidad and Tobago fear getting caught up in the tumult. But he does not dare venture far in the current political climate, fearing he will be caught and sent back. esp/pgf/ms/mlr/mlm
Sales of 'services' help Apple beat earnings forecasts
Apple on Thursday reported profit of $27.5 billion in the recently ended quarter, powered by iPhone and services revenue. "Apple is very proud to report a September quarter revenue record," chief executive Tim Cook said in a release.
AFP
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