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UPDATE 1-Molycorp gets approval from U.S. bankruptcy court for interim financing

July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.
Source: Reuters
Molycorp gets approval from U.S. bankruptcy court for interim financing

July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. On June 25, the only U.S. supplier of rare earths filed for Chapter 11 bankruptcy protection along with its subsidiaries in North America, to restructure $1.7 billion of debt in its U.S. and Canadian operations.
Source: Reuters
COLUMN-After the boom and the bust, what next for rare earths?: Andy Home

China, the world's dominant producer, was choking supply and investors were stampeding into the hottest ticket in town. The ensuing bust was equally spectacular with prices collapsing as buyers went on strike and China, under international pressure, loosened its stranglehold. With Molycorp and its Australian peer, Lynas, struggling to stay afloat, all the old...
Source: Reuters | By: Andy Home
UPDATE 2-U.S. bankruptcy judge refuses Molycorp request for loan

WILMINGTON, Del., June 26- Molycorp Inc failed to get approval from a U.S. Judge Christopher Sontchi agreed with the objection by an affiliate of Oaktree Capital Management that Molycorp could not justify its need for the money, which would deepen the company's insolvency. Oaktree, which had loaned the company about $250 million in September, argued Molycorp was...
Source: Reuters | By: Tom Hals
Molycorp files for Chapter 11 bankruptcy protection

GREENWOOD VILLAGE, Colo.- Rare earth metals company Molycorp has filed for Chapter 11 bankruptcy protection. The filings include Molycorp Inc. and its North American subsidiaries, as well as some non-operating subsidiaries outside North America. Operations outside North America, with the exception of non-operating companies in Luxembourg and Barbados,...
Source: The Associated Press
US STOCKS-Wall Street opens higher as consumer spending data jumps

June 25- Wall Street opened higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. The Commerce Department said consumer spending increased 0.9 percent last month, the biggest gain since August 2009, after a 0.1 percent rise in April. Weekly jobless claims rose...
Source: Reuters | By: Tanya Agrawal
US STOCKS-US stocks set to open higher on consumer spending data

June 25- Wall Street was set to open higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. The Commerce Department said consumer spending increased 0.9 percent last month, the biggest gain since August 2009, after the 0.1 percent rise in April.
Source: Reuters | By: Tanya Agrawal
Early movers: BBRY, WGO, ACN, MSO, DIS & more

These are the stocks posting the largest moves before the bell.
Source: CNBC.com | By: Peter Schacknow
UPDATE 1-Rare earths miner Molycorp files for Chapter 11 bankruptcy

June 25- Molycorp Inc, the only U.S. supplier of rare earths, filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp, whose shares have lost 86 percent of their value in the past year, said it had obtained agreement for up to $225 million in new...
Source: Reuters
Rare earths miner Molycorp files for Chapter 11 bankruptcy

June 25- Rare earths miner Molycorp Inc filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp has also obtained agreement for up to $225 million in new debtor-in-possession financing, it said in a statement. The Birmingham, Alabama-...
Source: Reuters