The World Trade Organization backed the U.S. in a dispute with China, agreeing that limits on exports of rare-earth elements used in hybrid-car batteries and wind turbines violate trade rules. A Chinese industry group said it regrets the ruling against China.
Bonds of Molycorp Inc., the owner of the largest rare-earth deposit outside of China, rose to the highest level in more than a month after a peer sold shares and its chief executive officer indicated raising equity was an option to combat dwindling cash.
U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc within a month for questioning over their role in the Libor scandal, a person with knowledge of the probe said.
Molycorp Inc., owner of the largest rare-earths deposit outside China, said it needs more time to file its annual 10-K report so the company can determine the size of a “substantial” goodwill writedown.