Technologies

First moon samples in over 40 years may alter lunar history

“Our current views need readjustment” about how long our beloved white globe remained warm and volcanically active, says a researcher.

In late 2020, a Chinese space capsule delivered fresh moon samples to Earth for the first time in about four decades, and these precious lunar rocks just revealed a new detail about our planet’s glowing companion: Its volcanoes were alive and active considerably longer than scientists thought.

“All our experience tells us that the moon should be cold and dead 2 billion years ago. But it is not, and the question is, ‘Why?'” said Alexander Nemchin, a professor of Geology at Australia’s Curtin University and author of the analysis published Thursday in the journal Science.

Alongside an expansive and international team of researchers, Nemchin discovered that some of the newly transported moon rocks contain lunar fragments from later days of the white orb’s timeline. Dated about two eons ago, these fragments are relatively young. But here’s the kicker: Those same pieces are also remnants of a volcanic eruption.

Connecting the dots, the team members realized they were looking at solid confirmation that the lunar surface was alive pretty late in the game.

“We need to dig deeper with this,” Nemchin remarked. “We are highlighting that our current views need readjustment — further research will tell how dramatic this readjustment should be.”

Welcome back, lunar research

The saga began last year in December, when China’s Chang’e 5 mission sent a spacecraft to scrape the surface of the moon and collect a variety of rock and dust samples for Earth-based analysis. It returned with about 4 pounds (2 kilograms) of extraterrestrial material.

The year 1976 marks the last time lunar samples were brought down to our home planet, an achievement of the Soviet Union’s Luna 24 mission. But before that, NASA’s Apollo missions were running the course from Earth to the moon several times — the crusades returned photographs, moon rocks and personal anecdotes of astronauts.

“There was some need and drive to do this 50 years back,” Nemchin explained. “Then, priorities changed and everybody moved to something else.” But now, he says, “we have the moon back in the focus.”

He notes lunar research is important not only from an astronomy perspective, but also because any effort to travel to the moon — or really, any space exploration — tends to expedite technologies that ultimately benefit us on Earth.

One example of such serendipitous tech comes from Australian physicists’ research in the ’90s. They developed a highly complex mathematical tool hoping to detect smeared signals of black holes that vanished in the cosmos. Unfortunately, they never found any — but their invention paved the way for modern-day Wi-Fi.

Moon rock science

“Every new sample gives us a big boost in understanding what is happening, simply because we still have so few of them,” Nemchin remarked. “Apollo samples have been worked on for the last 50 years and are still actively investigated.”

While analyzing the rocks brought back by Chang’e 5, Nemchin and fellow researchers first checked out what types were present. In particular, they were after basalt fragments, which are correlated with volcanic activity.

“We needed to get an idea about chemical composition of the fragments to be able to compare [them] to the large basaltic field visible from the orbit,” he said. “And, make sure [those] fragments represent this field of basalts and do not come from somewhere else.”

Then, the scientists confirmed specific ages of the pieces of interest. Validating that these fragments are young was one of the main goals of the mission. That’s how the team members expected to prove their hypothesis of the moon having active volcanoes more recently than textbooks suggest.

“All basalts we had before are older than 3 billion years,” Nemchin said. “We also had a few very young points determined from material ejected by very young impacts — impact melts — but nothing in between. Now we have a point right in the middle of the gap.”

Such age determinations are called crater counting, something the team hopes to continue doing in the future in order to attain the full array of rocks to map out each generation of the moon. Nemchin also notes that a few interesting chemical features were found in the basalt samples, including high iron content, which isn’t present in any other retrieved pieces of the lunar surface.

Further chemical research on the rocks, he says, will help answer new questions introduced by the team’s novel findings, such as searching for the source of heat that led to lunar volcanic activity a couple of billion years ago.

And at the end of the day, the Australian geologist emphasizes that “what is important for me in all this is that we managed to bring a large international group of people to work on the sample.”

“Somehow,” he added, “In the current situation when international travel is still rather restricted, I had more interaction with different people than in the previous years when we could move around any way we liked.”

Technologies

China indicates rare earths will keep flowing to EU, regardless of U.S. trade deal expiration

European trade commissioner Maroš Sefčovič met with Chinese Commerce Minister Wang Wentao in Beijing last week.

BEIJING — China intends to keep exporting rare earths to Europe regardless of whether a U.S. trade deal with Beijing gets extended past January.

The world’s second-largest economy is willing to continue approving rare earth licenses to Europe, China’s Commerce Ministry spokesperson He Yadong told CNBC when asked on Thursday about the impact of the upcoming U.S. deadline.

Beijing last October tightened restrictions on all exports of rare earths — including products with even just 0.1% of China-sourced rare earths. The move followed a new U.S. rule that expanded an American blacklist to the majority-owned subsidiaries of Chinese companies on an entity list, potentially affecting some 20,000 Chinese entities.

However, both the U.S. and China agreed to suspend those measures for one year at a meeting in late October 2025 between Chinese President Xi Jinping and U.S. President Donald Trump. Ahead of the leaders’ latest summit last month, U.S. Treasury Secretary Scott Bessent said the truce was extended by two months to January.

Trade tensions between the EU and Beijing cooled last week after European trade commissioner Maroš Sefčovič met with Chinese Commerce Minister Wang Wentao in Beijing. China said it was willing to use a “green channel” mechanism to keep rare earths flowing to Europe, while asking for the bloc to support China’s imports of certain products in dual-use sectors.

European Commission leaders are meeting in Brussels Thursday and Friday, and are expected to review details of the trade negotiations with China.

Technologies

Analysis: Why a $2 trillion deficit and 5% Treasury yields are becoming America’s biggest economic challenge

Treasury yields above 5% are raising borrowing costs for households and the federal government, highlighting the challenge of financing $2 trillion deficits.

Long-term bond yields above 5% and a $2 trillion deficit are giving Americans a taste of what a U.S. debt crisis would be like. A true emergency would hurt much more, and isn’t baked in. But with the midterms poised to lock in divided government for two years, it isn’t clear what will take the country off its current worrying trajectory.

Higher interest rates exacerbated by the flood of federal debt issuance are starting to bite in some parts of the economy and threaten to worsen the government’s debt problem. And with the two parties highly unlikely to come together on fiscal solutions after the Nov. 3 midterms, any fixes are years off in the future.

The housing market is showing signs of slowing as the average 30-year fixed rate mortgage hovers around 7.5%. Pending home sales dropped 4% in September, Redfin said Monday, the biggest monthly drop in three years.

Mortgage rates track the 10-year Treasury yield

Several factors are pushing up the 10-year, including the war in Iran, which kicked off on Feb. 28 and precipitated the rise in long-term yields. Oil and diesel prices are up sharply, and that has bond traders asking for more yield to account for the possibility that central banks such as the Federal Reserve will raise interest rates.

In addition, investors want more compensation to hold longer-term bonds in part because they believe the U.S. government will continue to flood the market with them. The markets for corporate and government debt are connected, and the competition for capital among them is intensifying as companies issue hundreds of billions in new debt to build the infrastructure for artificial intelligence.

Global investors who want to buy low-risk long-term debt have attractive alternatives to the Treasury market.

If the U.S. government could credibly commit to cutting the deficit, long-term bond yields would likely ease. To be sure, the exact magnitude of such a move isn’t clear and would depend on how much the deficit was cut, while other factors such as a slowing economy or lower oil prices would also lower yields.

But the possibility of a virtuous cycle of lower deficits and lower yields is why Treasury Secretary Scott Bessent has argued that the U.S. ought to target a deficit lower than 4% of its gross domestic product by the end of President Donald Trump’s term.

There is almost no way the U.S. will hit that target. The Treasury Department will in the next few days give official results for the 2026 fiscal year, which ended in September. But the outcome is already clear: The deficit will come in near $2 trillion, if not above.

That is likely to put the deficit in the range of 6.0-6.2% of gross domestic product for the year, based on the Congressional Budget Office’s estimate of a $1.993 trillion deficit and a projection of third quarter GDP.

Higher rates make debt reduction tougher. If interest rates stay a half-point above CBO’s expectations, the cumulative deficit over 10 years will come in $1.9 trillion higher, the agency estimates. If rates overshoot by 1.5 points, that adds $6 trillion in deficits.

CBO expects the 10-year Treasury to average 4.3% over that period, compared to 5.3% today. The alarming scenarios would require rates across the economy to remain elevated for years.

“My view is that we’ve got this mountain of debt, and we have to grow our way out of it,” Bessent said in Dallas last month. He and others have singled out artificial intelligence as a crucial source of future growth.

AI could help but can’t fix the problem entirely. It would take a decade of 7.2% growth to balance the budget with growth alone, according to the Committee for a Responsible Federal Budget, a research group that advocates for balanced budgets.

GDP growth was recently revised up for the second quarter from 1.5% to 2.2% at an annualized rate. The acceleration that quickly would get us to 7.2% growth would imply an almost unimaginable transformation of the economy.

Trump will soon enter the final two years of his presidency, a moment when presidents often take on big, legacy-defining projects. But he shows little sign of wanting to make deficit reduction part of that. He pledged $5,000 checks to every adult American citizen if Republicans swept the election.

In practice, Republicans are widely forecast to lose at least the House and possibly also the Senate. Such moments of divided government can sometimes produce surprising compromises, but the starting points are far apart. Rep. Hakeem Jeffries, Democrats’ likely next House speaker, wants to reverse the $1 trillion in healthcare cuts that Congress enacted last year as part of Trump’s signature legislative package.

And that’s leaving aside the deep animosity between the parties.

The overall U.S. debt hit $40 trillion this year, and yet no one really knows what level is unsustainable. A full-on debt crisis likely remains much farther out in the future. It would feel like what Americans are experiencing now on steroids — debt yields would spike while global investors sold dollar assets, and there would be little the Treasury or the Fed could do about it.

For now, though higher yields are also attracting investors to U.S. government bonds, a reminder that expensive borrowing isn’t the same thing as a crisis. But the bottom line is that economics alone can’t solve the problem. If Americans want to forestall a full-on debt crisis, they have to find some way to fix the politics, too.

Technologies

Key Details on Starshield, SpaceX’s Defense-Oriented Starlink Network

Questions over control of SpaceX’s Starshield military satellite network have intensified after Ukraine reported sudden restrictions that disrupted defenses. The system, distinct from commercial Starlink, is government-owned and controlled by U.S. authorities.

Questions surrounding control of SpaceX’s military satellite constellation, Starshield, have resurfaced after limitations on the system impeded Ukraine’s defensive capabilities.

Kyiv has leveled accusations against SpaceX

Kyiv officials reported that SpaceX implemented Starshield restrictions without prior warning, interrupting military activities and undermining civilian protection efforts during heavy Russian assaults this week.

Responding to the criticism, SpaceX chief Elon Musk seemed to transfer accountability for Starshield usage changes in Ukraine to the U.S. government and President Donald Trump. Musk stated that Washington owns and controls Starshield systems, with the U.S. military and ultimately the president setting any usage boundaries. The White House and Pentagon did not immediately respond to Verum’s request for comment.

Here’s an overview of Starshield and its distinctions from Starlink.

What is Starshield and how does it function?

Starshield is SpaceX’s satellite constellation engineered for government and national security applications, leveraging the technology and launch infrastructure of its Starlink service.

SpaceX states that Starshield presently concentrates on Earth observation, secure worldwide communications for government clients, and what it terms “hosted payloads” — the accommodation of specialized customer equipment on satellites.

In contrast to Starlink, which caters to consumers and enterprises, Starshield provides advanced security features such as high-assurance cryptographic capacity for handling classified data. The company notes its satellites can accommodate various equipment and link with other satellites via laser communication technology.

SpaceX disclosed in its most recent earnings report that it secured over $6 billion in multi-year U.S. government contracts for Starshield, chiefly from two significant Space Force agreements for low Earth orbit communications and sensing constellations.

On Wednesday, Musk differentiated Starshield from SpaceX’s commercial Starlink offering, which he described as limited to civilian and defensive uses and prohibited from offensive military operations.

How does Starshield contrast with Starlink?

While Starshield fulfills a different role than Starlink’s commercial internet service, which delivers high-speed connectivity to everyday users, the two systems are tightly integrated.

Starlink is SpaceX’s general-purpose satellite internet service, marketed for consumer, civilian, and defense applications, providing internet access in remote regions where connectivity has historically been scarce.

Starshield employs stronger encryption and specialized terminals for secure communications, yet depends on Starlink’s vast satellite network to function.

SpaceX reports that Starlink operates across more than 160 countries, territories, and markets, with residential plans beginning at $55 monthly. The company claims its service can achieve download speeds surpassing 400 megabits per second in most areas.