US, Australia seal minerals deal to counter China

 

The US and Australia signed a pact to expand supplies of rare earths and other critical minerals, aiming to blunt China’s market dominance. A framework outlines $1bn for projects in both countries over the next six months and supports an $8.5bn pipeline of "ready-to-go" ventures to boost mining and processing,...

AWS recovers after East Coast gateway disruption

 

AWS, the world’s largest cloud provider, said service had largely recovered after a widespread Monday disruption that degraded access for customers ranging from government agencies to AI companies and financial platforms. The company traced the incident to a regional gateway on the US East Coast and reported that most requests...

China Mirrors U.S. Tactics in Rare-Earth Controls

 

China expanded rare-earth export rules, now requiring foreign firms to get Beijing’s approval to ship magnets containing even trace China-origin materials or technology—mirroring the U.S. foreign direct product rule. Analysts say Beijing has adopted U.S.-style tools since 2018, including an Unreliable Entity List and an anti-foreign sanctions law. This year,...

AI Boom Draws Bubble Warnings From Skeptic

 

CNN Business Nightcap examines swelling AI-market exuberance amid doubts. The Financial Times says 10 unprofitable AI startups added nearly $1 trillion in value over 12 months. Researcher Julien Garran of MacroStrategy Partnership calls it “the biggest and most dangerous bubble,” arguing LLM-based products can’t be commercial, hit scaling limits, and...

Trading Cards Boom as Retailers Bet Big

 

Trading cards are surging, with Circana reporting strategic sales up 103% year-to-date through August and non-strategic up 48%. Target says category sales have climbed nearly 70% and are on track to top $1 billion, while Walmart Marketplace cites a 200% spike and tenfold Pokémon gains. Retailers are fueling demand with...

Tariff shift leaves UPS customers in limbo

 

Americans are running into snarled deliveries and surprise bills after the Trump Administration ended the de minimis loophole in August, part of President Donald Trump’s April tariff push. UPS customers describe packages marooned in warehouses, disposal threats, and steep fees: an Alabama buyer’s Italian wine was refused and billed $13...

Trump Imposes Tariffs on Trucks, Buses, Parts

 

President Trump on Friday signed a proclamation imposing 25% tariffs on all medium- and heavy-duty truck imports and their parts, and 10% on imported buses, including school and city models. The 25% rate covers Class 3 through Class 8 vehicles. Senior administration officials, speaking anonymously on a call with reporters,...

US, China set Malaysia trade talks amid tensions

 

China and the United States will hold new trade talks next week in Malaysia after a video call described as frank and constructive, as a tariff truce nears its Nov. 10 expiry. President Donald Trump said U.S. tariffs on Chinese goods are "not sustainable," while defending them, and threatened 100%...

FAA clears Boeing to boost 737 Max output

 

The FAA has cleared Boeing to raise 737 Max production to 42 jets a month, easing a cap imposed after a 737 Max 9’s door plug blew out on an Alaska Airlines flight in January 2024. Regulators said they will keep close oversight as Boeing and suppliers scale up. CEO...

ISS Urges Tesla to Reject Musk’s $1tn Package

 

Proxy adviser ISS urged Tesla investors to vote down Elon Musk’s proposed $1tn pay package, citing its striking magnitude and a lack of binding safeguards to keep him focused as he juggles other ventures. The recommendation lands before the Nov 6 annual meeting, where the plan—tied to steep market, earnings...