Tencent says reports of its interest in Nexon, Kakao's mobility unit are untrue
SHANGHAI, June 18 (Reuters) - Tencent said reports that it is studying deals for Nexon (3659.T), opens new tab and Kakao's (035720.KS), opens new tab mobility unit are untrue.
The Korea Economic Daily reported on Wednesday that Tencent was interested in buying a 40% stake in Kakao's mobility unit from financial investors.
Bloomberg reported last week that Tencent was studying a deal for $15 billion South Korean game developer Nexon.
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Japan scraps US meeting after Washington demands more defense spending -FT
WASHINGTON, June 20 (Reuters) - Japan has canceled a regular high-level meeting with its key ally the United States after the Trump administration demanded it spend more on defense, the Financial Times reported on Friday. U.S. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth had been expected to meet their Japanese counterparts in Washington on July 1 for annual 2+2 security talks. But Tokyo scrapped the meeting after the U.S. side asked Japan to boost defense spending to 3.5 per cent of GDP, higher than an earlier request of 3 per cent, the paper cited unnamed sources familiar with the matter, including two officials in Tokyo, as saying. A U.S. official who did not want to be identified confirmed Japan had "postponed" the talks but said the decision was made several weeks ago. The source did not cite a reason. A non-government source familiar with the issue said he had also heard Japan had pulled out of the meeting, but not the reason for it doing so. U.S. State Department spokesperson Tammy Bruce said she had no comment on the FT report when asked about it at regular briefing, and the Pentagon also had no immediate comment. Japan's embassy in Washington did not respond to a request for comment. The Financial Times said the new higher spending demand was made in recent weeks by Elbridge Colby, the third-most senior Pentagon official, who has also recently upset another key U.S. ally in the Indo-Pacific by launching a review of a project to provide Australia with nuclear-powered submarines. In March, Japanese Prime Minister Shigeru Ishiba said that other nations do not decide Japan's defense budget after Colby called in his nomination hearing to be under secretary of defense for policy for Tokyo to spend more to counter China. Japan and other U.S. allies have been engaged in difficult trade talks with the United States over U.S. President Donald Trump's worldwide tariff offensive. The FT said the decision to cancel the July 1 meeting was also related to Japan's July 20 Upper House elections, at which the ruling Liberal Democratic Party is expected to suffer a loss of seats. It comes ahead of a meeting of the U.S.-led NATO alliance in Europe next week, at which Trump is expected to press his demand that European allies boost their defense spending to 5 percent of GDP.
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FCC orders review of 'Cyber Trust Mark' program over China ties
June 20 (Reuters) - Federal Communications Commission chair Brendan Carr said on Friday he had ordered a review of the U.S. Cyber Trust Mark program over "potentially concerning ties to the government of China." Carr said the review was being carried out by the FCC's Council on National Security. He did not provide details. The review was earlier reported by Fox News, opens new tab.
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Teck Resources eyes output boost for chipmaking-metal germanium
LONDON, June 20 (Reuters) - Canada's Teck Resources ( opens new tab is weighing options to expand production of germanium, a strategic metal key to chipmaking, and is currently talking with governments, including Canada and the United States, on available funding, said Doug Brown, VP communications & government affairs. Teck's plan comes amid growing efforts to diversify supplies of critical minerals needed for the tech and defence sectors, as geopolitical tensions and trade barriers complicate access to materials mainly produced or refined in China. "We are examining options and market support for increasing production capacity of germanium," he told Reuters. China, which supplies around 60% of the world's refined germanium, restricted exports of the metal - along with gallium and antimony, all having broad military applications - to the United States, further escalating trade tensions between the world's two largest economies following Washington's crackdown on Beijing's chip sector. The export curbs were part of a broader effort launched in 2023, when China began imposing restrictions on critical mineral shipments, citing national security concerns. By controlling the export of these minerals, China aims to exert influence over the industries that use them, including renewable energy, defence, and chip manufacturing. Germanium is also used in semiconductors and infrared technology, fibre optic cables and solar cells. Teck is exploring ways to add to the current processing line using existing technology as one of the options, Brown said. Teck is North America's biggest germanium producer, and the fourth largest globally. Most of its germanium, a by-product of zinc ore concentrate at its Red Dog operations in Alaska, goes to the United States, via smelting and refining in British Columbia. Canada's germanium exports to the United States are currently exempt from tariffs as they comply with the USMCA (United States, Mexico, Canada) trade agreement. In a speech in Washington last January, Canada's Energy and Natural Resources Minister Jonathan Wilkinson welcomed partnerships with the United States to invest in critical minerals, including germanium. Canada's Energy Ministry declined to comment on funding for Teck, while saying that the prime minister is leading broader trade negotiations with the United States.
