12 days ago
LONDON, July 16 (Reuters) - The full implementation of China's rare earth export restrictions could put $6.5 trillion of downstream production outside the country at risk, the International Energy Agency warned on Thursday.
China, the world's largest producer of rare earths, expanded export controls in October last year to cover additional materials and introduced new licensing requirements, but later agreed to delay implementation for a year.
Rare earths are a group of 17 metals used in small quantities, but essential to products ranging from cars and aircraft to electronics and weapons systems.
If the controls take full effect, about $6.5 trillion of production across the automotive, high-tech, defence and energy sectors could be exposed to supply disruptions, the IEA said in its Global Critical Minerals Outlook report.
The U.S. and Europe would account for nearly half of the economic impact, the report added.
China, the world's largest producer of rare earths, expanded export controls in October last year to cover additional materials and introduced new licensing requirements, but later agreed to delay implementation for a year.
Rare earths are a group of 17 metals used in small quantities, but essential to products ranging from cars and aircraft to electronics and weapons systems.
If the controls take full effect, about $6.5 trillion of production across the automotive, high-tech, defence and energy sectors could be exposed to supply disruptions, the IEA said in its Global Critical Minerals Outlook report.
The U.S. and Europe would account for nearly half of the economic impact, the report added.
21 days ago
FIRST ON FOX: A coalition of state financial officers said it uncovered roughly $225 million in alleged fraud across America's schools over the past six years, identifying nearly 90 cases involving embezzlement, fake invoices, inflated enrollment, bid-rigging and kickbacks.
In a new report obtained exclusively by Fox News Digital, the State Financial Officers Foundation (SFOF) and Open the Books **** yzed every Education Department Office of Inspector General (OIG) Semiannual Report to Congress issued between Oct. 1, 2019, and March 31, 2026, revealing alleged fraud across 24 states and Puerto Rico.
"All fraud is harmful, but defrauding education dollars meant to help kids learn and succeed is especially hideous," SFOF CEO OJ Oleka said in a statement to Fox News Digital.
"The findings in this report should alarm every family, teacher, and civic leader, especially since they only scratch the surface of the problem. The state financial officers courageously tracking every school dollar abused historically have had a bloated federal education bureaucracy only make their job harder."
The War On Fraud Is Here, And Vice President Vance Is Leading It From The Front
In a new report obtained exclusively by Fox News Digital, the State Financial Officers Foundation (SFOF) and Open the Books **** yzed every Education Department Office of Inspector General (OIG) Semiannual Report to Congress issued between Oct. 1, 2019, and March 31, 2026, revealing alleged fraud across 24 states and Puerto Rico.
"All fraud is harmful, but defrauding education dollars meant to help kids learn and succeed is especially hideous," SFOF CEO OJ Oleka said in a statement to Fox News Digital.
"The findings in this report should alarm every family, teacher, and civic leader, especially since they only scratch the surface of the problem. The state financial officers courageously tracking every school dollar abused historically have had a bloated federal education bureaucracy only make their job harder."
The War On Fraud Is Here, And Vice President Vance Is Leading It From The Front
