
US Rare Earths Refiner Phoenix Tailings Eyes IPO Within 3 Years
US metals refiner Phoenix Tailings plans to pursue an initial public offering within three years after building out plants to produce rare earth elements to go into automobiles, medical devices and military equipment.
'That's our big target,' Chief Executive Officer Nick Myers said in a Monday interview. 'It's an aggressive goal, but I like to wake up and do aggressive things on a daily basis.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
SPY Attracts $3.3B as S 500 Nears New Record High
The SPDR S&P 500 ETF Trust (SPY) pulled in $3.3 billion Wednesday, bringing its assets under management to $620.9 billion, according to data provided by FactSet. The inflows came as the S&P 500 closed at 6,092.16, nearly reaching its February record high of 6,147.43. The Invesco QQQ Trust (QQQ) attracted $1.5 billion as the Nasdaq-100 gained 0.21%, while the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) collected $685.7 million. The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) pulled in $495.8 million, and the VanEck Semiconductor ETF (SMH) gained $353 million. The Vanguard Mid-Cap ETF (VO) saw outflows of $1.1 billion, while the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) lost $834.2 million and the Vanguard S&P 500 ETF (VOO) experienced outflows of $771 million. U.S. equity ETFs gained $1.4 billion, while U.S. fixed-income ETFs attracted $2.9 billion. International equity ETFs pulled in $1.4 billion. Overall, ETFs gained $6.8 billion for the day. Ticker Name Net Flows ($, mm) AUM ($, mm) AUM % Change SPY SPDR S&P 500 ETF Trust 3,307.20 620,923.50 0.53% QQQ Invesco QQQ Trust Series I 1,484.69 344,017.27 0.43% LQD iShares iBoxx $ Investment Grade Corporate Bond ETF 685.71 28,767.07 2.38% HYG iShares iBoxx $ High Yield Corporate Bond ETF 495.75 17,543.07 2.83% IVW iShares S&P 500 Growth ETF 478.24 58,785.59 0.81% IBIT iShares Bitcoin Trust ETF 436.32 72,774.74 0.60% SMH VanEck Semiconductor ETF 353.04 25,633.68 1.38% ARKK ARK Innovation ETF 277.61 6,817.16 4.07% IVV iShares Core S&P 500 ETF 274.37 591,723.81 0.05% JPLD JPMorgan Limited Duration Bond ETF 266.29 1,755.50 15.17% Ticker Name Net Flows ($, mm) AUM ($, mm) AUM % Change VO Vanguard Mid-Cap ETF -1,110.43 82,798.51 -1.34% BIL SPDR Bloomberg 1-3 Month T-Bill ETF -834.19 43,280.93 -1.93% VOO Vanguard S&P 500 ETF -771.02 687,448.52 -0.11% VTI Vanguard Total Stock Market ETF -632.28 490,691.12 -0.13% VUG Vanguard Growth ETF -498.86 171,572.75 -0.29% FVD First Trust Value Line Dividend Index Fund -470.67 9,043.24 -5.20% IGV iShares Expanded Tech-Software Sector ETF -410.76 11,647.22 -3.53% XLE Energy Select Sector SPDR Fund -390.45 26,959.90 -1.45% VBR Vanguard Small Cap Value ETF -315.35 29,404.45 -1.07% VB Vanguard Small-Cap ETF -306.31 63,111.27 -0.49% Net Flows ($, mm) AUM ($, mm) % of AUM Alternatives 0.46 9,991.45 0.00% Asset Allocation 74.89 24,555.56 0.30% Commodities ETFs 309.84 219,076.19 0.14% Currency 635.88 146,689.89 0.43% International Equity 1,412.21 1,840,739.01 0.08% International Fixed Income 346.49 300,913.23 0.12% Inverse 309.39 14,478.73 2.14% Leveraged -639.78 138,281.76 -0.46% US Equity 1,432.68 6,995,403.86 0.02% US Fixed Income 2,920.60 1,689,960.65 0.17% Total: 6,802.64 11,380,090.33 0.06% Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data are believed to be accurate; however, transient market data are often subject to subsequent revision and correction by the | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 minutes ago
- Yahoo
Lawmakers remove ‘revenge' tax provision from Trump's big bill after Treasury requests its removal
WASHINGTON (AP) — Congressional Republicans agreed to remove the so-called revenge tax provision from President Donald Trump's big bill Thursday after Treasury Secretary Scott Bessent asked members of Congress to do so earlier in the day. The Section 899 provision would allow the federal government to impose taxes on companies with foreign owners, as well as investors from countries judged as charging 'unfair foreign taxes' on U.S. companies. The measure was expected to lead many companies to avoid investing in the U.S. out of concern that they could face steep taxes. Bessent said in an X post that he made the request to lawmakers after reaching an agreement with other countries on the Organization for Economic Co-operation and Development Global Tax Deal. He said that after 'months of productive dialogue,' they would 'announce a joint understanding among G7 countries that defends American interests.' After he made the request, Senate Finance Committee Chairman Mike Crapo, R-Idaho, and House Ways and Means Committee Chairman Jason Smith, R-Missouri, said 'we will remove proposed tax code Section 899' from the bill and 'Congressional Republicans stand ready to take immediate action if the other parties walk away from this deal or slow walk its implementation.' The removal of the provision will provide 'greater certainty and stability for the global economy and will enhance growth and investment in the United States and beyond,' Bessent said in his post. An analysis by the Global Business Alliance, a trade group representing international companies such as Toyota and Nestlé, estimates that the provision would cost the U.S. 360,000 jobs and $55 billion annually over 10 years in lost gross domestic product. The Global Business Alliance was among several groups that signed a letter addressed to Senate Majority Leader John Thune of South Dakota and Senate Finance Committee Chairman Mike Crapo of Idaho, warning of the consequences of Section 899. The removal of the provision adds a wrinkle to Republicans' plans to try to offset the cost of the massive package. The non-partisan Congressional Budget Office estimates that the bill would spike deficits by at least $2.4 trillion over the next decade. Republicans are rushing to finish the package this week to meet the president's Fourth of July deadline for passage. Earlier Thursday, the Senate parliamentarian advised that a Medicaid provider tax overhaul central to the spending bill does not adhere to the chamber's procedural rules, delivering a crucial blow to Republicans, who are counting on big cuts to Medicaid and other programs to offset trillions of dollars in Trump tax breaks. ___ Fatima Hussein And Josh Boak, The Associated Press

Associated Press
19 minutes ago
- Associated Press
Caroleene Dobson to run for Alabama secretary of state
MONTGOMERY, Ala. (AP) — Montgomery attorney Caroleene Dobson, a Republican who ran for Congress last year, announced Thursday she is running for secretary of state in 2026. The secretary of state serves as Alabama's chief elections official. The office also maintains business records and government records for the state. Dobson said her priorities if elected include election security, reducing fees and getting legislation passed that will enable statewide post-election audits. 'As secretary of state, I will reduce fees on Alabama businesses, streamline services for the public, and I will never back down from the liberal activist groups who want to undermine the security of our elections,' Dobson said in a statement. The office of secretary of state will be open in 2026. Current Secretary of State Wes Allen is running for lieutenant governor in 2026. State Auditor Andrew Sorrell, also a Republican, is also running for secretary of state. Sorrell is a former member of the Alabama Legislature. Dobson, a graduate of Harvard College and Baylor University School of Law, is a shareholder in Maynard Nexsen law firm. She specializes in natural resources, commercial finance and real estate law. In 2024, Dobson ran for Alabama's 2nd Congressional District but lost to Democrat Shomari Figures. A federal court redrew the south Alabama district after ruling that Alabama had purposely diluted the influence of Black voters — who make up 27% of the state's population. Dobson said as secretary state that she wants to replicate the Florida Election Crimes and Division, an enforcement unit dedicated to investigating voter fraud and other election crimes. 'On the national level, I will advocate for President Trump's commonsense election reforms,' Dobson said. 'I will also leverage my legal experience to fight back against out-of-state activists who are constantly attempting to use the courts to undermine our election security measures.'