By Praveen Menon and Riya Sharma (Reuters) -Australia’s Lynas Rare Earths has signed a $120 million follow-on contract with the U.S. Department of Defense to build a commercial heavy rare earths separation facility in Texas, the firm said on Tuesday. Lynas is the world’s only processor of rare earths outside China, and the contract with…
By Byungwook Kim and Joyce Lee SEOUL (Reuters) -A week-long strike by truck drivers in South Korea has disrupted shipments to China of a key cleaning agent used by makers of semiconductor chips, the Korean International Trade Association (KITA) said on Tuesday. It was the first sign that the strike was affecting the global supply…
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Walt Disney Co has been unable to obtain permission to show its new Pixar movie “Lightyear” in 14 Middle Eastern and Asian countries, a source said on Monday, and the animated film appeared unlikely to open in China, the world’s largest movie market. A “Lightyear” producer…
By Sonali Paul MELBOURNE (Reuters) – Oil prices seesawed in positive and negative territory on Tuesday, holding up despite recession fears and potential new COVID-19 curbs in China that could dampen demand as the market remains tightly supplied. U.S. West Texas Intermediate (WTI) crude eased 4 cents to $120.89 a barrel at 0156 GMT, while…
(Reuters) – Hong Kong’s Cathay Pacific Airways Ltd expects to report a lower first-half loss than last year, driven by strong cargo performance and cost-cutting, the airline said on Tuesday, but warned that this year’s loss would still be “substantial”. Last year’s first-half loss was HK$7.57 billion ($964.34 million). ($1=7.8499 Hong Kong dollars) (Reporting by…
TOKYO (Reuters) – Japan’s selection of a new central bank governor is likely to intensify after an upper house election in July and could determine how quickly the country will follow global counterparts in withdrawing monetary stimulus. Prime Minister Fumio Kishida will decide from a short-list, usually crafted by financial bureaucrats, a successor to Bank…
By Byron Kaye (Reuters) -Australian transit operator Kelsian Group Ltd said it may bid for Go-Ahead Group PLC after the British bus firm agreed to a 647.7 million pound ($789 million) buyout from another Australian group, setting the stage for a bidding war. Go-Ahead, which runs buses in several English cities including London, plus Ireland…
By Scott Murdoch HONG KONG (Reuters) – Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive U.S. interest rate hikes would push the world’s largest economy into recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9%. Australian…
SEOUL (Reuters) – Samsung Electronics’ semiconductor production in China is facing disruption from South Korean truckers blocking exports of a key chip-making material as part of a strike, the Korea International Trade Association (KITA) said on Tuesday. In the first concrete sign that the week-long strike has begun impacting chip production, KITA said a Korean…
(Reuters) – Australia’s Lynas Rare Earths said on Tuesday it has signed a $120 million follow-on contract with the U.S. Department of Defense to build a commercial heavy rare earths separation facility in Texas. The contract, which was granted to Lynas’ U.S. subsidiary, builds on from a ‘Phase 1’ funding for a heavy rare earth…
