|
|
|
US and Australia sign critical-minerals agreement as a way to counter China
Court News |
2025/10/20 16:12
|
President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical-minerals deal at the White House on Monday as the U.S. eyes the continent’s rich rare-earth resources at a time when China is imposing tougher rules on exporting its own critical minerals abroad.
The two leaders described the agreement as an $8.5 billion deal between the allies. Trump said it had been negotiated over several months.
“In about a year from now we’ll have so much critical mineral and rare earth that you won’t know what to do with them,” said Trump, a Republican, boasting about the deal. “They’ll be worth $2.”
Albanese added that the agreement takes the U.S.-Australia relationship “to the next level.”
Earlier this month, Beijing announced that it will require foreign companies to get approval from the Chinese government to export magnets containing even trace amounts of rare-earth materials that originated from China or were produced with Chinese technology. The Trump administration says this gives China broad power over the global economy by controlling the tech supply chain.
“Australia is really, really going to be helpful in the effort to take the global economy and make it less risky, less exposed to the kind of rare earth extortion that we’re seeing from the Chinese,” Kevin Hassett, the director of the White House’s National Economic Council, told reporters Monday morning ahead of Trump’s meeting with Albanese.
Hassett noted that Australia has one of the best mining economies in the world, while praising its refiners and its abundance of rare earth resources. Among the Australian officials accompanying Albanese are ministers overseeing resources and industry and science, and Australia has dozens of critical minerals sought by the U.S. because they are needed in everything from fighter jets and electric vehicles to laptops and phones.
The agreement could have an immediate impact on rare earth supplies in the United States if American companies can secure some of what Australian mines are already producing, although it will take years — if not decades — to develop enough of a supply of rare earths outside of China to reduce its dominance.
Pini Althaus, who founded USA Rare Earth back in 2019 and is now working to develop new mines in Kazakhstan and Uzbekistan as CEO of Cove Capital, said it will be crucial that the contracts to buy materials from Australian mines include price floors, similar to what the U.S. government promised MP Materials this summer, to protect against China manipulating prices.
For decades, China has used the tactic of dumping excess critical minerals onto the market to drive prices down to force mining companies in the rest of the world out of business to eliminate any competition.
“I think taking away that arrow in the quiver of China to manipulate pricing is an absolute crucial first step in Australia and the West being able to develop critical minerals projects to meet our supply chain demands,” said Althaus, who has spent nearly a quarter-century in the mining business.
The agreement underscores how the U.S. is using its global allies to counter China, especially as it weaponizes its traditional dominance in rare earth materials. Top Trump officials have used the tactics from Beijing as a rallying cry for the U.S. and its allies to work together to try to minimize China’s influence.
|
|
|
|
|
|
|
Trump threatens to pull support for Argentina if its politics move leftward
Court News |
2025/10/15 07:44
|
President Donald Trump on Tuesday threatened to pull assistance for Argentina — led by a political kindred spirit whose philosophy is similar to that of the Republican administration — if the nation’s internal politics don’t align with his interests in upcoming elections.
The comments came during a meeting with Argentine President Javier Milei, whose country is set to hold midterm elections for its legislative body later this month. U.S. presidents typically do not weigh in on the candidates in other countries’ democratic elections.
Referring to an opponent who was “extremely far-left” and encompassed a “philosophy that got Argentina into this problem in the first place,” Trump warned that the United States wouldn’t “waste our time” with largesse toward Buenos Aires if Milei does not prevail. In addition to the midterms that will be a referendum on his policies, Milei himself is up for reelection in 2027.
“We’re not going to let somebody get into office and squander the taxpayer money from this country. I’m not gonna let it happen,” Trump said from the Cabinet Room as he prepared to eat lunch with Milei. “If he loses, we are not going to be generous with Argentina.”
Even so, Trump insisted that the $20 billion assistance to Argentina, which administration officials strenuously deny is a bailout, was about helping “our neighbors” rather than any ties to the upcoming midterms.
“It’s just helping a great philosophy take over a great country,” the U.S. president said. “Argentina is one of the most beautiful countries that I’ve ever seen, and we want to see it succeed. It’s very simple.”
U.S. Treasury Secretary Scott Bessent added that the administration believed Milei’s coalition in the upcoming midterms would “do quite well and continue his reform agenda.”
As he opened his lunch with Milei, Trump noted that the Argentine president, who is an economist by trade, is “MAGA all the way.” That traditionally refers to his campaign slogan, “Make America Great Again,” but this time, it also meant “Make Argentina Great Again.”
Trump’s meeting with Milei was already making waves back in Argentina, with Cristina Fernandez de Kirchner, leader of the left-leaning Peronist opposition and a two-term former president, writing on social media: “Trump to Milei: ´Our agreements are subject to whoever wins election´. Argentines ... you know what to do!”
The former president is serving a six-year sentence under house arrest since June for corruption, but she remains the most influential leader of Peronism, an ideologically flexible, labor rights-focused populist movement, which emerged in the 1940s and dominated politics for decades.
Ahead of his White House meeting and during it Milei lavished praise on Trump, deploying a tactic that has helped transform Milei’s cash-strapped country into one of the Trump administration’s closest allies.
In the days that followed, Argentine Economy Minister Luis Caputo spent hours in meetings in Washington trying to seal the deal.
Reassurance came last Thursday, when Bessent announced that the U.S. would allow Argentina to exchange up to $20 billion worth of pesos for an equal sum in dollars. Saying that the success of Milei’s program was “of systemic importance,” Bessent added that the U.S. Treasury directly purchased an unspecified amount of pesos.
For the Trump administration, the timing was awkward as it struggles to manage the optics of bailing out a nine-time serial defaulter in the middle of a U.S. government shutdown that has led to mass layoffs. Democratic lawmakers and other critics have slammed it as an example of Trump rewarding loyalists at the expense of American taxpayers.
Later Thursday, Sen. Elizabeth Warren of Massachusetts — who was singled out during the White House meeting by both Bessent and Trump — tried to advance a bill that would block the $20 billion in U.S. assistance, but the gambit failed in the Republican-controlled Senate.
Another topic that had been on the agenda was the Stargate project, which would expand a network of massive artificial intelligence centers to Latin America, according to a person with knowledge of the plans who was granted anonymity to speak about private discussions.
Argentina could be home to Latin America’s first Stargate, which is a joint initiative from OpenAI, Oracle and SoftBank that will build a network of big data centers that would power OpenAI’s artificial intelligence technology. It’s an initiative that’s been championed by Trump himself.
Milei also joined a ceremony at the White House honoring Charlie Kirk, the prominent right-wing political activist who was fatally shot last month. Milei often crossed paths with Kirk on the speaking circuit of the ascendant global right.
There has been no word on how Argentina, the IMF’s largest debtor, will end up paying the U.S. back for this $20 billion, which comes on top of IMF’s own loan for the same amount in April. And that one came on top of an earlier IMF loan for $40 billion.
Despite all the help, Milei’s government already missed the IMF’s early targets for rebuilding currency reserves.
“The U.S. should be concerned that Argentina has had to return for $20 billion so quickly after getting $14 billion upfront from the IMF,” said Brad Setser, a former Treasury official now at the Council on Foreign Relations.
|
|
|
|
|
|
|
Madagascar’s president flees after soldiers turned against him
Court News |
2025/10/11 07:45
|
Madagascar President Andry Rajoelina left the country after an elite military unit turned against the government in an apparent coup that followed weeks of youth-led protests, an opposition lawmaker in the Indian Ocean country said Monday.
The lawmaker’s comments came shortly before Rajoelina was due to appear on national television and radio to make a speech to the people of Madagascar. The president’s office said his speech was scheduled to be broadcast at 7 p.m. local time (1600 GMT), but was delayed after a group of soldiers attempted to take over the state broadcaster.
His office didn’t say if he was still in Madagascar amid reports he had fled on Sunday on a French military plane.
The anti-government protests, which were initially led by Gen-Z demonstrators, began on Sept. 25 but reached a turning point on Saturday when soldiers from the elite CAPSAT military unit accompanied protesters to a square in the capital, Antananarivo, and called for Rajoelina and several government ministers to step down.
The unit, which helped Rajoelina first come to power as transitional leader in a military-backed coup in 2009, said that it had taken charge of all the armed forces in Madagascar.
Siteny Randrianasoloniaiko, the leader of the opposition in parliament, said that Rajoelina “ran away” from the country after soldiers turned against him.
Rajoelina’s office had said Sunday that “an attempt to seize power illegally and by force” was underway in the nation of 31 million off the east coast of Africa. He has not appeared in public since the revolt by soldiers and his current whereabouts are unknown. A spokesperson for the president didn’t respond to phone calls and messages.
Following a report that France had flown Rajoelina and his family out of Madagascar on one of its military planes, French Foreign Ministry spokesperson Pascal Confavreux declined to comment.
Madagascar is a former French colony. Rajoelina reportedly has French citizenship, a source of discontent among Madagascans.
Madagascar’s former prime minister under Rajoelina and one of the president’s closest advisors had left the country and arrived in the nearby island of Mauritius in the predawn hours of Sunday, the Mauritian government said, adding it was “not satisfied” that the private plane had landed on its territory.
Rajoelina hasn’t identified who was behind the attempted coup, but the CAPSAT military unit appeared to be in a position of authority and on Sunday appointed a general as the new head of Madagascar’s armed forces, which was accepted by the defense minister.
A commander of CAPSAT, Col. Michael Randrianirina, said that his soldiers had exchanged gunfire with security forces who were attempting to quell weekend protests, and one of his soldiers was killed. But there was no major fighting on the streets, and soldiers riding on armored vehicles and waving Madagascar flags were cheered by people in Antananarivo.
Randrianirina said that the army had “responded to the people’s calls,” but denied there was a coup. Speaking at the country’s military headquarters on Sunday, he told reporters that it was up to the Madagascan people to decide what happens next, and if Rajoelina leaves power and a new election is held.
The U.S. Embassy in Madagascar advised American citizens to shelter in place because of a “highly volatile and unpredictable” situation. The African Union urged all parties, “both civilian and military, to exercise calm and restraint.”
Madagascar has been shaken by three weeks of the most significant unrest in years. The anti-government protests, which erupted over water and electricity outages, were led by a group calling itself “Gen Z Madagascar.” The United Nations says the demonstrations left at least 22 people dead and dozens injured. The government has disputed this number.
The protests snowballed into larger dissatisfaction with the government and the leadership of Rajoelina. The demonstrators have brought up a range of issues, including poverty and the cost of living, access to tertiary education, and alleged corruption and embezzlement of public funds by government officials, as well as their families and associates. |
|
|
|
|
|
|
Texas Megachurch founder Robert Morris pleads guilty to child sex abuse charges
Court Watch |
2025/10/09 07:02
|
The founder of a Texas megachurch who resigned last year after a woman in Oklahoma accused the pastor of sexually abusing her in the 1980s pleaded guilty Thursday to five counts of lewd and indecent acts with a child, authorities said.
Robert Preston Morris, 64, entered the pleas before a judge in Oklahoma’s Osage County as part of a plea agreement, according to the state attorney general’s office.
The abuse began in 1982 when the victim was 12 and Morris was a traveling evangelist staying in Hominy, Oklahoma, with her family, according to the statement by Oklahoma Attorney General Gentner Drummond. The abuse continued over the next four years, the statement said.
Morris was the senior pastor of Gateway Church in the Dallas-Fort Worth suburb of Southlake, where he led one of the nation’s largest megachurches until his resignation. He was indicted earlier this year by an Oklahoma grand jury. Under the plea agreement, Morris received a 10-year suspended sentence with the first six months to be served in the Osage County Jail.
Morris was handcuffed and wearing a suit as he was escorted out of court on Thursday by two sheriff’s deputies.
The victim, Cindy Clemishire, who is now 55, said in a statement that “justice has finally been served, and the man who manipulated, groomed and abused me as a 12-year-old innocent girl is finally going to be behind bars.” The Associated Press typically does not name people who say they have been sexually assaulted unless they come forward publicly, as Clemishire has done.
“My hope is that many victims hear my story, and it can help lift their shame and allow them to speak up,” she said. “I hope that laws continue to change and new ones are written so children and victims’ rights are better protected. I hope that people understand the only way to stop child sexual abuse is to speak up when it happens or is suspected.”
Morris must register as a sex offender and will be supervised by Texas authorities via interstate compact. He also was ordered to pay his costs of incarceration, including any medical expenses, and restitution to the victim.
One of Morris’ attorneys, Bill Mateja, said Morris wanted to accept responsibility for his conduct, and wanted to bring the legal matter to an end for the sake of him and his family and Clemishire and her family.
“While he believes that he long since accepted responsibility in the eyes of God and that Gateway Church was a manifestation of that acceptance, he readily accepted responsibility in the eyes of the law,” Mateja said.
Mateja said Morris wanted to apologize to Clemishire and her family for his conduct and asked for forgiveness.
When asked about the allegations last year by The Christian Post, Morris said in a statement to the publication that when he was in his early 20s he was “involved in inappropriate sexual behavior with a young lady in a home where I was staying.” He said it was “kissing and petting, not intercourse, but it was wrong.”
Gateway Church was founded by Morris in 2000. He has been politically active and formerly served on President Donald Trump’s evangelical advisory board. The church hosted Trump on its Dallas campus in 2020 for a discussion on race relations and the economy.
Gateway Church declined to comment Thursday.
The pleas were entered before Osage County District Special Judge Cindy Pickerill.
“There can be no tolerance for those who sexually prey on children,” Drummond said. “This case is all the more despicable because the perpetrator was a pastor who exploited his position of trust and authority. The victim in this case has waited far too many years for this day.” |
|
|
|
|
|
|
The Supreme Court will evaluate Trump’s expansive claims of presidential power
Securities Class Action |
2025/10/05 07:02
|
The Supreme Court is beginning a new term with a sharp focus on President Donald Trump’s robust assertion of executive power.
Pivotal cases on voting and the rights of LGBTQ people also are on the agenda. On Tuesday, the justices will hear arguments over bans passed by nearly half of U.S. states on therapy aimed at changing sexual orientation or gender identity.
The opening session on Monday has lower-profile cases, including a dispute over the right of a criminal defendant to consult with his lawyer during an overnight break in his testimony. The judge in a Texas murder trial ordered defense lawyers not to talk to their client about his testimony.
A major thrust of the next 10 months, however, is expected to be the justices’ evaluation of Trump’s expansive claims of presidential power.
The court’s conservative majority has so far been receptive, at least in preliminary rulings, to many emergency appeals from Trump’s Republican administration. But there could be more skepticism, however, when the court conducts in-depth examinations of some Trump policies, including the president’s imposition of tariffs and his desired restrictions on birthright citizenship.
The justices are hearing a pivotal case for Trump’s economic agenda in early November as they consider the legality of many of his sweeping tariffs. Two lower courts have found the Republican president does not have the power to unilaterally impose wide-ranging tariffs under an emergency powers law.
In December, the justices will take up Trump’s power to fire independent agency members at will, a case that probably will lead the court to overturn, or drastically narrow, a 90-year-old decision. It required a cause, like neglect of duty, before a president could remove the Senate-confirmed officials from their jobs.
The outcome appears to be in little doubt because the conservatives have allowed the firings to take effect while the case plays out, even after lower-court judges found the firings illegal. The three liberal justices on the nine-member court have dissented each time.
Another case that has arrived at the court but has yet to be considered involves Trump’s executive order denying birthright citizenship to children born in the United States to parents who are in the country illegally or temporarily.
The administration has appealed lower-court rulings blocking the order as unconstitutional, or likely so, flouting more than 125 years of general understanding and an 1898 Supreme Court ruling. The case could be argued in the late winter or early spring. |
|
|
|
|
|
|
 |
Investment Fraud Litigation |
|
|
|
|
Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
|
|
|
| |
| |
| |
|
The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
|
Legal News RSS Feed
