Solar Energy News
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German Chancellor Angela Merkel was pressed to use a meeting with Chinese Prime Minister Li Keqiang to defuse a looming European Union trade conflict with China over its solar products.
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Golden Ocean Group Ltd., the dry bulk shipping group controlled by billionaire John Fredriksen, rose in Oslo as a strong balance sheet and low vessel values allow it to expand ahead of an expected increase in rates.
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Suntech Power Holdings Co. tumbled, leading a slump in Chinese equities traded in New York, on concern the European Union will impose import duties on China’s solar products.
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The European Union is poised to penalize imports of Chinese solar products, a move that would increase Europe’s cost for most photovoltaic panels an estimated 45 percent overnight.
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Most emerging-market stocks advanced as a Federal Reserve official said bond purchases should continue, bolstering the outlook for global economic growth. Mexico’s IPC Index slumped to an eight-month low.
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Chinese stocks retreated in New York from the highest level in three months, led by Huaneng Power International Inc., as concern increased over a slowdown in Asia’s largest economy after UBS AG cut its growth forecast.
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The Obama administration is engaged in preliminary talks with the European Union and China to settle a dispute over trade in solar-energy equipment and avoid a conflict among the world’s largest economies, according to people familiar with the discussions.
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China’s stocks rose for a fifth day, sending the benchmark index to its longest winning streak in three months, as technology and solar companies climbed on improving earnings prospects.
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Asian stocks retreated from the highest level since June 2008 as Australian banks dropped and Industrial & Commercial Bank of China Ltd. fell after Goldman Sachs Group Inc. sold a $1.1 billion stake.
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Hareon Solar Technology Co. led a rally for Chinese solar companies on speculation the U.S. and China are seeking to resolve a dispute over trade in solar- energy equipment that could lead to soaring tariffs.
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