Rio Tinto PLC (RIO) News & EventsRIORio Tinto PLC

Major Averages Rise as Traders Await Fed Rate Decision

The major averages were mostly higher near noon as traders await the Federal Reserve's interest-rate decision and earnings from Alphabet and Microsoft after the closing bell. Semiconductor stocks are providing support after South Korea's SK Hynix reported record profits.The Fed is widely expected to leave its benchmark interest-rate range unchanged at 3.75%-4% when it announces its decision at 2 p.m. ET, followed by Chair Kevin Warsh's press conference at 2:30 p.m. ET. With inflation remaining elevated and oil prices climbing after an attack on Saudi Arabia's Ras Tanura refinery, investors will focus on Warsh's comments for clues about the timing of future rate hikes.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Trian has offered to acquire Wendy'sfor $7.35 per share in cashSeagatereported better-than-expected Q1 results and raised its quarterly dividendSK Hynixreported mixed Q3 results, with net profit falling below consensus estimates but revenue coming in higherVisareported better-than-expected Q4 earnings and revenue and provided its outlook for Q1 and FY27GE Vernovaprovided a "beat and raise" report for Q3 and agreed to acquire Trench Group for $9B2. WALL STREET CALLS:Enphase Energydowngraded at Roth Capital and OppenheimerXylemdowngraded to Underweight at JPMorganPiper Sandler downgraded F5on valuation, lack of catalystsWhirlpooldowngraded to Sell at StifelBoeingupgraded to Buy at Langenberg3. AROUND THE WEB:Meta's$25B share sale attracted demand for about five times the available shares, as the company seeks to raise $98B for its AI spending, Bloomberg saysAmazondiscouraged teams from relying solely on token usage or code generation as measurements of AI adoption, calling them "deeply flawed" metrics in an internal memo, CNBC reportsRio Tinto'sboard has proposed increasing CEO Simon Trott's target remuneration package by 56%, Reuters saysResearchers at TrendAI, a defense firm, found an Israeli ad tech company has been targeting users of Starlink'ssatellite internet service, likely to spy on them, Reuters reportsOpenAI is planning to purchase AI chips from Google, The Information reports4. MOVERS:Genmabgains in New York after announcing its Phase 3 LiGeR-HN1 trial of petosemtamab met its dual primary endpointsAxoGenincreases after reporting Q3 results and raising its guidance for FY26Stellantisand Haywardhigher in New York after reporting quarterly resultsSellas Life Scienceslower after triggering the final analysis of its REGAL trialRapport Therapeuticsfalls after announcing a 8.33M share offering5. EARNINGS/GUIDANCE:Amphenolreported Q3 results and provided guidance for Q4 and FY26Brinkerreported Q1 results and raised its outlook for FY27Dieboldreported Q3 results and cut its guidance for FY26Idexreported Q3 results, with CEO Eric Ashleman calling it "another strong quarter"Flexreported Q2 results, provided guidance for Q3, and raised its outlook for FY27INDEXES:Near midday, the Dow was up 144.45, or 0.28%, to 52,522.02, the Nasdaq was down 22.06, or 0.08%, to 26,455.75, and the S&P 500 was up 13.30, or 0.17%, to 7,735.90.

Rio Tinto Invests $1.9B to Develop Queensland Bauxite Project

Rio Tinto will invest $1.9B to develop the Kangwinan bauxite project on Western Cape York Peninsula in Queensland, underpinning the long-term future of its Weipa Operations and continued supply to its international customers and its Australian alumina refineries. Kangwinan highlights Rio Tinto's continued commitment to mining in Australia and will sustain its position as one of the world's leading high-quality bauxite producers. This brownfield investment will leverage Rio Tinto's project execution capability and reflects continued application of the company's disciplined capital allocation framework. It will add 20 million tonnes of annual bauxite production capacity in Weipa, leveraging some existing infrastructure, with first output targeted in 2029 and full production expected by 2032. The project will replace production from the Andoom mine near Weipa as it reaches the end of its life this decade, while increasing Weipa Operations' annual capacity to about 44M tonnes, from current production of around 38M tonnes per year. It will also help compensate for the planned end of production at the Gove mine in the Northern Territory in 2029.