The purchase may be announced as early as today, said the people yesterday, who declined to be identified because the talks are private. Royal Bank of Scotland Group Plc was forced to sell its stake in Sempra by the European Union after receiving a 45.5 billion-pound ($71 billion) taxpayer-funded bailout.
JPMorgan is continuing discussions with RBS and Sempra about acquiring the North American operations of the commodities and energy trader, one of the people said. Representatives for Edinburgh-based RBS, JPMorgan and Sempra declined to comment. - - - - >

China produces nearly all the rare earths used in batteries for hybrid cars, mobile phones, superconductors, lightweight magnets and other high-tech products. Reports of a plan to reduce exports sparked concern about the impact on industry abroad.
Beijing will encourage sales of finished rare earths products but will limit exports of semi-finished goods, said Wang Caifeng, deputy director-general of the materials department of the Ministry of Industry and Information Technology.
Exports of raw ores already is banned, and said that will continue, Wang said at an industry conference.
Wang refused to confirm Chinese news reports that this - - - - >

Supplies increased 1.65 million barrels to 361.1 million last week, the highest since July 1993, the Energy Department said today. Stockpiles were forecast to climb by 1.5 million barrels, according to a Bloomberg News survey. The industry- funded American Petroleum Institute yesterday said stockpiles jumped 6.94 million barrels to the highest since 1990.
“The inventory build today wasnt anywhere near as large as in the API report, which is giving the market support,” said Tom Bentz, a senior energy analyst at BNP Paribas Commodity Futures Inc. in - - - - >

The new plan unveiled Wednesday should satisfy the foreign ownership concerns and is the second deal between Australian miners and Chinese companies to move forward in as many days. A third, much bigger, proposal is still being scrutinized by regulators amid political pressure not to allow Australian assets to be sold to Chinese state-owned companies.
Oz Minerals, the worlds second-largest zinc producer and Australias third-largest diversified mining company, said the revised deal would allow the company to pay off all its debts and still have 600 million Australian dollars ($410 million) left over.
The company was facing collapse if it could not - - - - >