New Zealand might lose $700 million in movie business due to union

Talk about stupid: New Zealand might lose $700 million in movie production business due to a boycott by an Australian-based actors union. Fun quote:

Fifteen hundred workers, including directors, technicians and crew who [oppose the actors union], met at . . . Miramar Studios at 5pm for an emergency meeting this evening. By 7pm, they were storming the Actors Equity meeting in the city.

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Chinese embargo of rare earth minerals expands

China is expanding its embargo on exporting rare earth minerals, blocking shipments to Japan, Europe and the United States. Key quote:

China mines 95 percent of the world’s rare earth elements, which have broad commercial and military applications, and are vital to the manufacture of products as diverse as cellphones, large wind turbines and guided missiles. Any curtailment of Chinese supplies of rare earths is likely to be greeted with alarm in Western capitals, particularly because Western companies are believed to keep much smaller stockpiles of rare earths than Japanese companies.

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