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Trump administration to invest $1.6bn for stake in rare earths firm
The Trump administration will invest $1.6bn (£1.2bn) in a US critical minerals firm, marking officials’ latest push to reduce China’s dominance over the rare earths sector. The agreement with USA Rare Earth, which will give the government a stake in the firm, emerged days after US President Donald Trump claimed to have secured the “framework”…
Bessent says Argentina peso bet was homerun deal
US Treasury Secretary Scott Bessent said his risky US gamble on Argentina’s currency has paid off. Bessent said American financial support had been repaid and the US no longer held any Argentine pesos in its exchange stabilisation fund. The US had purchased the then-plunging currency last year in an effort to stave off further turmoil…
Trump threatens to pull out of planned Xi meeting
President Donald Trump has threatened to pull out of an expected meeting with President Xi Jinping of China after Beijing tightened its rules for exports of rare earths. In a post on social media, Trump said he now saw “no reason” to meet with President Xi later this month, accusing China of “becoming very hostile”…
Rachel Reeves plans ‘targeted action’ on bills in Budget
Faisal IslamEconomics editor Watch: Government will be taking targeted action on cost of living, says Reeves Chancellor Rachel Reeves has said she is planning “targeted action to deal with cost of living challenges” in next month’s Budget. Speaking to the BBC, she said it was the job of both the government and the Bank of…
Electric Car Grant : £1.3bn boost for EV scheme expected in Budget
The government is expected to announce an extra £1.3bn in funding for a scheme encouraging the use of electric vehicles (EVs) at next week’s Budget. The Electric Car Grant scheme started in July as part of the move to zero emission vehicles. The government says it has helped 35,000 switch to EVs. However, early research…
