Mnuchin told CNBC that he's confident President Donald Trump and President Xi Jinping can make progress in stalled trade talks.World Economyread more
President Donald Trump's administration hopes additional sanctions on Iran will force the country to negotiate.Politicsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
More than 300 companies are talking to government officials in Washington about how detrimental the trade war is.Marketsread more
The Senate is expected to pass its own version of the border aid legislation, while the Trump administration has threatened to veto both bills.Politicsread more
Some 4 million people have fled the South American country since 2015 amid an economic meltdown.World Politicsread more
Japanese designer Undercover posted on its Instagram account a photo of protesters with the slogan "no extradition to China," the Financial Times reported.China Politicsread more
President Trump announced fresh sanctions on the Islamic Republic on Monday, following the downing of an unmanned American drone last week.Politicsread more
* Comments remove uncertainty hanging over Lynas
* Malaysia had threatened to not renew license
* Reprocessing license renewal due in September (Adds comment, share price move, background)
TOKYO, May 30 (Reuters) - Malaysian Prime Minister Mahathir Mohamad said on Thursday that his country will allow Australian rare earths producer Lynas Corp to keep operating a processing plant in the country.
Mahathir's comments remove the uncertainty that had been hanging over the future of Lynas' $800 million plant after Malaysia halted the process for renewing its license because of waste disposal concerns.
Lynas is the only significant producer outside China of rare earths, the name for a group of 17 metals used in batteries, computers, televisions and smartphones. Their importance to global supply chains was underlined this week after China, the world's biggest producer, threatened to use the metals as a bargaining chip in its trade war with the United States.
"We think we'll have to renew the license," Mahathir told reporters at a news conference in Tokyo, adding Malaysia did not want to lose such a large investment. Mahathir is in Japan to attend a business conference.
Shares in the Australian company surged to the highest in more than five years on Thursday after Chinese newspapers, including the official People's Daily, said on Wednesday that China is ready to use rare earths to strike back in the trade war.
China supplied 80% of the rare earths imported by the United States from 2014 to 2017, when it accounted for 81% of the world's rare earth production, data from the U.S. Geological Survey showed.
The Lynas processing plant in Malaysia refines ore from a rare earths mine in Western Australia.
Lynas last week unveiled detailed expansion spending plans of A$500 million ($347 million) designed to boost production and placate Malaysian regulators' concerns about the waste disposal at its plant.
The plan hinges on Lynas receiving its Malaysian license renewal in September and comes after the company in March rebuffed a $1.1 billion takeover offer from Australian conglomerate Wesfarmers Ltd.
Last December, Malaysia's environment minister said that Lynas must remove its waste stockpiles before the license could be renewed. Lynas has maintained that it would not be possible for it to remove the waste within such a short timeframe. ($1 = 1.4430 Australian dollars) (Reporting by Elaine Lies; writing by Aaron Sheldrick; editing by Christian Schmollinger)