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US invests $1.6 billion in rare earth miner in exchange for 10% stake
Financial Times, Saturday, reported that the United States plans to invest $1.6 billion in 'Oklahoma based miner USA Rare Earth, and receives a 10% stake. Reports said that the government's investment, as well as a separate private financing agreement of $1 billion, would be announced Monday. The White House, USA Rare Earth and the White House did not respond immediately to our request for comment. Report said that the government would receive 16.1 million shares and warrants worth $17.17 each in the company. Washington In December of last year, it planned more "historic deals" with the U.S. Mining Sector to increase domestic production for lithium, rare Earths, and other minerals that are used in national defense. This would reduce reliance on China which had used its mineral prowess in trade negotiations. The administration bought equity stakes in MP Materials Lithium Americas, and Trilogy Metals last year. According to the FT, the deal with USA Rare Earth "focuses on onshoring strategic and critical minerals that are essential for the semiconductor supply chain as well as US national security", a U.S. Commerce Department official from the CHIPS office who provides incentives for investments and equipment in the U.S. said. The company also hired?Cantor, an investment bank and brokerage firm headed by Brandon Lutnick - the son of a?U.S. The FT reported that Secretary of Commerce Howard Lutnick will lead efforts to raise $1 billion in new equity. USA Rare Earth is a brand new product. Developing A mine in Sierra Blanca, Texas, and a neo-magnet manufacturing facility in Stillwater in Oklahoma are expected to be commercialized in the first half of 2026. The company has a $3.45 billion market capitalization and has become one of the largest neo-magnet manufacturers in the United States. Could not verify the report immediately. Reporting by Anusha in Bengaluru, Editing by Rod Nickel & Chizu Nomiyama
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Winter storm in the U.S. cancels thousands of flights
On Saturday, almost 4,000 flights in the U.S. were cancelled ahead of a monster storm that already has?cut off power to thousands utility customers as far as Texas? and threatens to paralyze east states with heavy snowfall. Forecasters predicted that a monster winter storm, which has already 'cut power to thousands of utility customers as far west as Texas,' and threatened to paralyze eastern states with heavy snowfall, will sweep across the eastern two thirds of the country on Sunday, and continue into next week. Donald Trump, who called the storms historic, approved federal disaster declarations on Saturday in South Carolina (South Carolina), Virginia, Tennessee, Georgia and North Carolina (Maryland), Arkansas, Kentucky, Louisiana Mississippi, Indiana and West Virginia. "We will monitor and keep in touch with every state in the path of this storm. Trump posted a message on Truth Social entitled "Stay Safe and Stay Warm". Weather emergencies have been declared in several?states, including the District of Columbia. U.S. National Weather Service has warned that a long-lasting and unusually large 'winter storm' will cause heavy ice to accumulate in the Southeast U.S., with "crippling or locally catastrophic" impacts. Forecasters from the Weather Service predicted that record-low temperatures and dangerously low wind chills would continue to descend on the Great Plains region in the U.S. as of Monday. FlightAware, a flight tracking website, reported that as of 5 pm EST on Saturday, over 3,900 U.S. scheduled flights had been cancelled. The website also indicated that more than 8,800 U.S. flight originally scheduled for Sunday have been cancelled. Major U.S. Airlines warn passengers to be alert for sudden flight cancellations and changes. Delta announced on its website that it was "continuing to make schedule changes due to Winter Storm fern" with additional cancellations for Atlanta, along the East Coast and Delta hubs at Boston and New York City. The airline announced that it would be relocating de-icing experts and baggage teams from its cold weather hubs to several southern airports. U.S. Electric Grid Operators on Saturday increased precautions to avoid rotating blackouts. Dominion Energy's Virginia operations, which include the largest data center collection in the world said that if the ice forecast is accurate, it could affect its operations more than any other winter event. (Reporting and editing by Sergio Non, David Gregorio and Lewis Krauskopf)
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Second person killed by federal agents in Minneapolis during immigration crackdown
Local?and federal officials confirmed that a man was shot and killed by federal agents in Minneapolis on Saturday. This is the second fatal shooting involving federal agents in this month, during an immigration enforcement surge in the city. In a press release, the Department of Homeland Security stated that the man was armed with two magazines and a handgun. In a video that was broadcast on cable news and circulated on social media, people in?masks or tactical vests were seen wrestling with a male on a snowy street. Then shots are heard. The man is seen falling to the ground and then a series of shots are heard. Minnesota Governor Tim Walz demanded that the Trump administration immediately cease its immigration enforcement activities in the state. Walz posted on the social media platform X that he had just spoken with the White House about another horrendous shooting by federal agents 'this morning. This is disgusting. This?operation must be stopped by the President. Remove the violent and untrained officers from Minnesota. ?Now." Tina Smith, Democratic U.S. Senator from Minnesota, described the shooting as "catastrophic." Minneapolis officials called for calm as the incident was investigated. Immigration agents were seen in a video from the area deploying teargas on a crowd of?onlookers. The City of Minneapolis posted a message that read: "We ask you to stay calm and avoid this area."
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Saudi Arabia delays 2029 Asian Winter Games in NEOM
A statement said that the Olympic Council of Asia and the Saudi Arabian Olympic Committee had agreed to postpone 2029 Asian Winter Games. The games were to be held in a spectacular mountain resort as part of the NEOM mega project. In the joint statement, neither organisation provided a new schedule or a reason as to why the delay occurred. The postponement is a blow to the Kingdom, which had committed to hosting several major events in the coming decade. The 2034 FIFA World Cup, the 2030-2031 Riyadh Expo and the winter games had set clear deadlines to advance vast mega-projects. These were central to the Kingdom's goal of reducing its dependence on hydrocarbon revenue. NEOM with a population projection of 9 million people,?and others projects, have been delayed repeatedly. Sources at the Saudi Olympic Committee said on Saturday that the Kingdom will be negotiating a new date for the Games to be held in NEOM. Source who spoke under condition of anonymity said that the delay will allow Saudi Arabia to cultivate a culture of Winter Sports. The announcement was made as Saudi Arabia's Public Investment Fund (PIF) and the government reviewed major development projects throughout the kingdom. Mohammed Al-Jadaan, Saudi Finance Minister, said in 2011 that the kingdom has "no ego", when it comes to reevaluating the feasibility of certain initiatives. The kingdom is shifting its focus to sectors which can deliver quicker returns. These include tourism, religious pilgrimages and industry. The Winter 'Games' were to be held in Trojena - the centrepiece of NEOM, an ambitious $500 billion mega-project. Trojena is a resort in the mountains northwest of Saudi Arabia that offers outdoor sports, including skiing, all year round. The project's timeline has been a source of persistent doubt. The OCA approached South Korea in August 2025 about the possibility of hosting.
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US electric grid is under stress during cold snap
U.S. Electric Grid Operators on Saturday increased precautions to prevent power shortages and rotating blackouts, as the?cold weather that affected nearly half of the country's residents increased stress?on their operations. The PJM interconnection, the largest regional?grid in the United States that?serves 67,000,000 people in the East & Mid-Atlantic, reported a temporary spike in spot wholesale prices on Saturday morning to almost $3,000 per megawatt-hour from levels as low as $200 per MWh. Stormy weather and temperatures around 0 degrees Fahrenheit (-18 C), pushed up demand for electricity and caused some operators to close down natural gas production in key basins. Grid companies also faced restrictions on gas pipeline supplies. Grid operations reports reveal that regional grid operators are calling on coal-fired power stations to increase their output due to a shortage of?gas. Midcontinent Independent System Operator called on power plants to increase output and curtail electricity exports across a territory that spans 15 states from the Midwest, South and Manitoba in Canada. MISO's emergency all-hands on-deck action is designed for utilities to be ready to "produce as much energy as possible" if some power plants have to shut down or reduce output due to freezing temperatures. MISO wholesale spot electricity prices in Minnesota soared up to $500 per MWh as transmission bottlenecks on high-voltage lines plagued the upper Midwest. Spot electricity prices in MISO’s southern territory were lower than $50 per megawatt hour. Fuel oil production in New England has been stepped up to conserve natural gas - the region's top fuel source - and to reduce its electric grid. ISO New England's operation display showed that oil-fired generation was responsible for 26% (or more) of New England grid output early Saturday morning, compared to a normal?level of 1% or less. Natural gas generated 28% of grid output. New England spot power prices were over $300 per MWh or almost doubled the price of Friday. (Reporting and editing by Jan Harvey; Tim McLaughlin)
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New Zealand authorities are working to identify victims of landslide
Human?remains? were found in the morning by New Zealand authorities. Heavy rains on Thursday caused a landslide on Mount Maunganui, on the east coast of the island. The landslide brought down soil and rubble in Tauranga city, which was crowded with families enjoying summer holidays. Police said that rescue efforts had ceased, and a recovery effort was underway. They added that it is unlikely anyone of the missing people were still alive. Police say that no signs of life have been found in the rubble after first responders heard voices on Thursday. Anna Tutton, chief?Coroner of the?City of?Kingston, said that her office is now working on identifying?victims. Tutton stated in a press release that he could not say exactly how long the identification process would take, but he assured everyone that they will be very careful. Christopher Luxon, Prime Minister of Canada, said that it was "devastating" to hear the news everyone had been waiting for. Luxon wrote on X: "To the families that have lost loved ones - Every New Zealander grieves with you." On Friday, the Prime Minister visited the scene and met with the families of victims. Fire and Emergency New Zealand reported that 35 crew members, aided by heavy machinery were removing debris from the area of search on Saturday after a partial slide in one section on Friday night. Megan Stiffler, a Fire and Emergency official, said that heavy rain predicted for Saturday in the area could pose additional challenges. The work crew may have to leave the search area?for their own safety. Two people were killed by a landslide caused by heavy rains in the nearby suburb of Papamoa this week. (Reporting and editing by Aurora Ellis, William Mallard, Tom Hogue; Sam McKeith is in Sydney)
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Officials say that one person has been killed in the attack on two of Ukraine's largest cities, according to officials.
Officials?said that Russia attacked Ukraine's largest cities, Kyiv and Kharkiv, early Saturday morning. One person was killed and at least 15 others?injured. Vitali Klitschko, the mayor of Kyiv, said that one person died and four others were injured in the capital. Three of them are currently being treated at hospital. Klitschko claimed that the strikes caused fires to break out in the districts either side of the Dnipro River which divides the capital. He said that heating and water supply had been interrupted in areas of the capital east of the Dnipro River. Ukraine's air force claimed that both drones as well as missiles were used in the attack on the capital. Tymur 'Tkachenko reported that strikes had occurred in at least four districts. A medical facility was one of the damaged buildings. Since the New Year, Kyiv has been hit by two massive overnight attacks that knocked out heating and power to hundreds of homes. Residents were still waiting for services, despite temperatures dropping to minus 9 degrees Fahrenheit (9 degrees Celsius) overnight. Ihor Terekhov, the mayor of Kharkiv - a target that is often used 30 km (18 miles) away from Russia - said that 25 drones had?hit several districts in two and a half hours with at least eleven people being injured. Terekhov wrote on Telegram that the drones struck a dormitory?for displaced people, as well as a hospital and an maternity hospital. After two days of talks between negotiators of Ukraine, Russia and the United States in the United Arab Emirates to find a solution to the war that has lasted for nearly four years, the latest attacks took place. (Reporting and editing by Chris Reese, Tom Hogue, and Ron Popeski)
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The Australian Open is forced to close its roof due to the scorching heat
The Australian Open halted play on the outside courts on Saturday, and closed the roofs on the main showcourts. This was after the tournament invoked their extreme heat policy. On Rod Laver Arena, Jannik Sinner, the defending champion, was cramping and unable to move when he fell behind Eliot Spizzirri (unseeded) 6-4 3-6 3-1. When Sinner lost 3-1 to the opponent in the third game, the Heat Stress Scale of this tournament?hit?5.0. This gave him eight minutes before play resumed. The fifth set was being played at John Cain Arena, and Lorenzo Musetti had a 2-0 lead over Tomas Machac. Play was stopped while Ben Shelton and Valentin Vacherot began their match on Margaret Court Arena. The referee of the tournament said that matches on outdoor courts would not begin until 5:30 pm (0630 GMT). Early Start The play had begun an hour earlier in order to take advantage of the relative cooler morning temperatures, but the conditions were already oppressive as Madison Keys, the defending champion entered the centre court at 10:30 am for her third round match. Keys, a Florida native who is used to hot weather conditions, needed just 75 minutes to defeat Karolina Pliskova. Jessica Pegula, Amanda Anisimova and other Florida-based compatriots seemed to enjoy the heat, as they advanced to the next round. Pegula said after she won 6-3, 6-2 in a flash against Oksana Selekhmeteva. Anisimova said that she was ready for the oppressive conditions. She beat fellow American Peyton Stearns 6-1?6-4 in just 71 mins. "I hated summer training because it was so hot and there were so many outdoor courts," she said. But you know what?" It paid off in a small way. It's great to play out here, even though it's so warm. It's good to have a little challenge." SEVERE HEAT POLICY The Australian Open has an extreme heat policy which takes into account air temperature, heat radiation, wind speed, and humidity when assessing playing conditions. This allows officials to suspend or delay matches if thresholds are reached. Early afternoon, the tournament's five point scale was at 3.4 when?Sinner & Spizzirri appeared on court. When the scale reaches four points, players are allowed to take longer breaks between sets. Five points mean the suspension of all matches outside the showcourts and the closing of the roofs. Organisers reminded fans to wear hats and drink lots of water, as well as use the misting fans located around Melbourne Park. Sarah Gellatly, a Sydney resident, applied sunscreen to her face and body from a dispenser outside Melbourne Park's gates. She said that players will be worried about fighting each other in the heat of the day. She said, "It is really hot. But if you are a professional player who tours around the world every day then they will be used to it." Melbourne residents Mat Vonarx, and his partner had the "ground pass" cheap tickets that gave them access to the outdoor courts. They said they were prepared for whatever the weather brought. Vonarx, on his first Grand Slam visit, said: "We knew that it would be hot today but the tennis is what matters." We're prepared, we have plenty of water with us and are ready to go. Vonarx stated that the players will have to be tough. He said, "It will be difficult for any sport to compete in these conditions but the professionals are going to do whatever they have to do to finish the game."
Source: EU to boost ties with Vietnam amid trade disturbances
An EU official stated that the European Union and Vietnam would strengthen their ties when Antonio Costa, President of the European Council, visited Hanoi on Thursday. Both sides are seeking to expand international partnership amid disruptions caused by U.S. Tariffs. Costa's visit coincides with To Lam's reappointment as Vietnam’s top official. This could make Costa the first major leader to meet Lam after the ruling Communist Party appointed him as general secretary on Friday. According to the official, who spoke on condition of anonymity, the elevation of ties from Vietnam's "lowest level" was planned for months, but it was delayed due to schedule issues. The EU would be placed on the same level as China, Russia, and the U.S., among others. This would further expand Vietnam's advanced partnership, in line with its strategy to balance big powers.
The European Council refused to comment. The Vietnamese government has not responded to a comment request.
These 'upgrades' are mostly symbolic. They involve more frequent meetings at high levels and rarely any binding agreements. Vietnam's relations with the United States deteriorated last year, after the Trump Administration imposed tariffs. This is despite the fact that former President Joe Biden upgraded bilateral ties during his visit to Hanoi at the end of 2023.
A draft joint statement said that the upgrade will lead to more cooperation on technology and minerals. This includes research, technology, energy, and other critical minerals. The country has significant, but little-exploited,?deposits in rare earths and gallium.
Southeast Asia is heavily reliant on trade and is a key link in global supply chain, particularly for electronic goods, clothing, and footwear. The country has signed a number of free trade agreements, including one with the European Union. Vietnam has been criticised by the EU for its implementation of the?free trade agreement. This has increased Vietnam's surplus in relation to the 27-nation group since 2020. In 2024, the EU deficit with Hanoi was?at $42.5 billion ($50.26billion).
Hanoi is accused by EU officials of preventing EU imports with a number of non-tariff obstacles, but Brussels so far has taken only limited steps to remedy the situation. Faced with tariffs from the United States the EU prioritised "improving relations with economic partners" and "expanding trade agreements", including recent agreements with South American nations in the Mercosur group.
Costa will travel to India before Vietnam. He and Ursula von der Leyen of the European Commission intend to have trade talks with Indian PM Narendra Modi. This is according to an EU Council schedule.
(source: Reuters)