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November 18, 2025

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Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) said on Monday (November 17) that it has signed a joint development agreement with environmental technology company Calix (NYSE:CALX,ASX:CXL) to develop Calix’s Zero Emissions Steel Technology (Zesty) green iron demonstration plant in Western Australia.

If approved, the plant will be built at a site in Kwinana, south of Perth, that was previously earmarked for Rio Tinto’s BioIron research and development facility and associated pilot plant.

Under the deal with Calix, Rio Tinto will invest more than AU$35 million, pending project milestones. Funding from the mining giant will include both in-kind and financial contributions.

The plant received AU$44.9 million in Australian Renewable Energy Agency support in July.

Rio Tinto’s work will include helping Calix reach a final investment decision through technical support, engineering services and advocacy. Subject to a final investment decision and successful project construction, Rio Tinto will provide up to 10,000 tonnes of various Pilbara iron ores for plant commissioning and the initial testing phase.

The miner will also provide introductions to potential customers for downstream use of the Zesty product.

“The world needs low-emissions steel if it is going to decarbonise, and we continue to look at a range of ways Pilbara iron ores can help to do this as new technologies emerge,” said Rio Tinto Iron Ore Chief Executive Matthew Holcz.

He added that Rio Tinto will keep progressing BioIron with its partners, the University of Nottingham and Metso. However, the company has decided that the current furnace design requires additional development.

“Both projects are part of our work to reduce emissions and support the future of iron ore in Australia and the communities that depend on it,’ Holcz added, referring to Zesty and BioIron.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

House Republicans are cautiously supportive of a bipartisan bill aimed at forcing the Department of Justice (DOJ) to release all its files on Jeffrey Epstein’s case after President Donald Trump gave the bill his stamp of approval on Sunday night.

GOP lawmakers who spoke with Fox News Digital Monday evening said they would vote for the bill and were optimistic their colleagues would as well — though many of them said they still had concerns about how it was written.

It comes after Speaker Mike Johnson, R-La., who had been against the bill but pushing parallel transparency efforts in Epstein’s case, said he hoped it would undergo material changes when it reached the Senate to give more protection for innocent people whose names may appear in the files against their wishes.

‘I have real concerns about the discharge language in the House draft,’ Johnson said. ‘But I do have some comfort that, I think if and when it’s processed in the Senate, that they’ll be able to correct some of those concerns, if we have the protection of victims and whistleblowers and all the rest.’

The legislation is coming to the House floor on Tuesday afternoon via a mechanism called a discharge petition led by Rep Ro. Khanna, D-Calif., and Rep. Thomas Massie, R-Ky. The latter has found himself at odds with both Johnson and Trump on several key issues this year.

A discharge petition allows a bill to get a House-wide vote against leaders’ wishes, provided the petition gets support from most lawmakers in the chamber — which in this case, it did last week.

Rep. Byron Donalds, R-Fla., a Trump ally who is running for governor in Florida, said he would vote for the bill but shared Johnson’s concerns.

‘Number one, Congress has never released criminal files ever in the history of Congress. Two, there are victims, and I know we’re supposed to be trying to do what we can to sanitize their names or cover their names or redact their names, but you know, that doesn’t mean it’s going to be foolproof,’ Donalds said.

‘You could have victims that don’t want to be released, be identified, and then they have to go relive this again. What about those women? What if those women have kids now? What if those women have husbands now and they don’t want to go through this? So I think there’s a reason why political bodies don’t release criminal files.’

Donalds said he would vote to release the files, however, to move past this chapter and help victims get closure.

‘It’s become such a huge distraction here on Capitol Hill. And I do want to see justice for those victims, if they were abused,’ he said.

Republican Study Committee Chairman August Pfluger, R-Fla., said, ‘I’m gonna vote in favor of it, but it’s not perfect, and there’s a lot of things that need to be addressed.’

‘Transparency is key. My district needs transparency. The president has nothing to hide, but things that need to be fixed, have to be fixed in the Senate,’ Pfluger, who pledged to support the bill before Trump’s blessing, said.

Rep. Erin Houchin, R-Ind., said she had similar concerns ‘from the start.’

‘Once it goes to the Senate, if the Senate believes they need to have broader or, you know, bigger protections, then I think that’ll be up to the Senate to decide, but I’m ready to vote this out of the House and send it over to the Senate and get moving on it,’ Houchin said.

A member of the conservative House Freedom Caucus, Rep. Andy Ogles, R-Tenn., questioned whether such a move by Congress could get in the way of the DOJ’s active probes into Epstein.

‘I have concerns as well. I mean, you have the Department of Justice investigations taking place. Are we inadvertently interfering?’ he posed.

Ogles said, however, that he believed most House Republicans like himself would back the bill.

‘With the president coming out in support of it, I think that sends a clear message that he’s not afraid of what’s in it, the Democrats should be,’ he said.

Rep. Rich McCormick, R-Ga., similarly said he believed Trump’s support alleviated some difficulties for Republicans.

‘I think it releases any angst they might have when we’re voting for it,’ McCormick said. ‘I think most people will vote for it, I don’t think it’s going to be a controversial bill at all.’

Houchin told Fox News Digital, ‘I think he moved the needle tremendously, just to say, you know, let’s have a vote on it and let’s stop talking about it.’

But Rep. Russell Fry, R-S.C., disagreed that Trump’s support had a significant effect on shifting the tide.

‘I mean, maybe a little bit, but I think people were largely there anyway,’ Fry said. ‘We talked about this on the campaign trail, The guy was a total dirtbag, did unspeakable atrocities on women in our country, and the public wants closure…this has been the most transparent Congress and administration on this subject in the country’s history.’

Trump posted on Truth Social on Sunday night, ‘House Republicans should vote to release the Epstein files, because we have nothing to hide, and it’s time to move on from this Democrat Hoax.’

It appeared to lead to Rep. Troy Nehls, R-Texas, who notably said he would oppose the measure on Friday, changing his mind as of Monday night. He told reporters ‘everybody’ would vote in favor of the bill and pointed out, ‘Donald Trump made a decision.’

House Oversight Committee Chairman James Comer, R-Ky., who was leading the Johnson-backed probe into Epstein, appeared similarly resigned on Monday.

‘At this point, I just think the best thing to do — there’s so much media frenzy and curiosity about this, and you know, the survivors act like they want everything to come out. I want everything to come out….any other villains in this, we’ll try to figure out what we can,’ he said.

And Massie told reporters that same evening that he would be open but cautious about any changes to his bill in the Senate.

‘If the Senate wants to improve this bill without limiting the disclosure, that would be fine by me. But if they try to monkey it up, I think those senators are gonna get in front of a freight train and be in a lot of trouble with their supporters,’ he warned.

Massie told Fox News Digital of Johnson’s concerns, ‘He needs to be for it or against it. I think he’s going to vote for it, so he must think there’s more good than bad.’

Senate Majority Leader John Thune, R-S.D., has not yet said what he would do if the bill passed the House on Tuesday.

This post appeared first on FOX NEWS

Walmart announced Friday that longtime CEO Doug McMillon will retire at the end of January — which came as a surprise to some given the company’s success in a rapidly evolving retail landscape.

John Furner, Walmart’s U.S. CEO, will assume the role of overall CEO on Feb. 1, the company said. McMillon will continue to serve in an executive and advisory role through January 2027. Furner, 51, began his career at Walmart as an hourly associate.

McMillon, 59, has held the top job since 2014 and is only the fifth person to lead the storied company in its 63-year history.

McMillon has overseen a radical transformation of Walmart’s image in a little over a decade.

In 2014, Walmart had a reputation as a budget retail option and was accused of underpaying its associates. Today, it draws more well-to-do shoppers and has earned credit for adopting innovative personnel policies.

McMillon also built up Walmart’s e-commerce operation into the country’s second-largest, behind only Amazon. Over the course of McMillon’s tenure, the value of Walmart’s shares has increased some 300%.

“Serving as Walmart’s CEO has been a great honor and I’m thankful to our Board and the Walton family for the opportunity,” McMillon said in a statement. “I’ve worked with John for more than 20 years. … He’s uniquely capable of leading the company through this next AI-driven transformation.”

America’s retail landscape continues to rapidly evolve, as consumer spending habits increasingly bifurcate between wealthier households and everyone else.

However, Walmart’s quarterly results have held steady — and the company has been justly rewarded by investors. Just this year, Walmart shares have climbed around 13%. Over the course of McMillon’s tenure, the retailer’s stock price is up some 300%.

On Walmart’s most recent earnings call in August, McMillon indicated the company has been able to withstand the broader pressures facing consumers. Its shoppers’ “behavior has been generally consistent,” he said. “We aren’t seeing dramatic shifts.”

Other retailers have not been so fortunate.

Target’s shares have lost about one-third of their value this year, as the chain works to regain its footing in a more value-conscious environment. In August, longtime CEO Brian Cornell announced plans to step down.

Amazon, meanwhile, has fared slightly better as consumers continue to prioritize the convenience of online shopping. But it recently announced thousands of layoffs affecting corporate employees. Amazon’s share price has climbed about 8% this year.

McMillon has also steered Walmart through a volatile period in U.S. politics, during which elected officials have engaged directly with companies and consumers have proven willing to boycott corporate giants over social issues.

Walmart found itself in President Donald Trump’s crosshairs in May, after it signaled plans to increase some prices in response to his tariffs.

“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump wrote on his Truth Social platform. “Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”

While subsequent reports indicated that Walmart had indeed increased prices on some items, McMillon said in August that the changes were gradual enough that consumer habits shifted only modestly.

Six months after Trump singled Walmart out over tariffs, he did so again — but for a very different reason.

In recent weeks, the Trump White House has repeatedly touted Walmart’s 2025 Thanksgiving menu package — which costs less overall than the retailer’s similar menu did last year — as a sign that the president’s economic policies have helped drive down grocery prices for consumers.

But there is a flaw in that rationale. This year’s Walmart Thanksgiving menu contains fewer items than last year’s menu did.

This post appeared first on NBC NEWS