Suntech Power Holdings Co Ltd
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The European Union is to impose duties on imports of Chinese solar panels from Thursday, but announced a dramatically reduced initial rate after pressure from some large member states.
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NEW YORK-- Suntech Power Holdings Co., one of the world's biggest solar panel manufacturers, said Tuesday that authorities in Switzerland have granted its main European subsidiary more time to restructure its debts. The China- based company said it received a six-month moratorium on creditor claims.
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BRUSSELS, June 18- The European Union's top trade official will discuss a dispute with China over solar panels at a meeting in Beijing on Friday, with the EU looking to negotiate a settlement to the spat and avoid a costly and debilitating trade war.
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*Commission says aim is negotiate a settlement with China. *EU trade chief says EU wants to avoid trade war with China. *EU producers: China has captured 80 pct of solar panel market.
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*EU trade chief says wants to avoid trade war with China. *EU producers: China has captured 80 pct of solar panel market.
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BEIJING, May 29- China's top newspaper condemned a plan by the European Union to levy hefty duties on its solar panel exports on Wednesday as "bean counting" being driven by EU bodies as a selfish way of pushing their own agendas.
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BRUSSELS/ HONG KONG, May 24- The European Commission rejected Chinese trade association statements that talks to resolve a dispute over allegations of dumping of solar panels had broken down, while Chinese comments highlighted risks the dispute could escalate.
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BRUSSELS, May 23- The European Commission rejected Chinese trade association statements that talks to resolve a dispute over allegations of dumping of solar panels had broken down, while Chinese comments highlighted risks the dispute could escalate.
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WUXI, China/ HONG KONG, May 22- Local creditors of Wuxi Suntech, the bankrupt unit of Chinese solar panel maker Suntech Power Holdings Co Ltd, on Wednesday claimed the subsidiary owed them a combined $2.5 billion, at the start of a debt restructuring process expected to last months.
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LOS ANGELES, May 20- In October 2004, then California Governor Arnold Schwarzenegger rolled up to a pioneering fueling station at Los Angeles International Airport in a hydrogen-powered metallic blue Hummer loaned to him by General Motors Corp..
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LONDON, May 10- Silver prices swung wildly in the wake of extreme losses seen in gold last month, but while investors fled bullion-backed funds in droves, holdings in the less glamorous precious metal are remarkably robust, for now.
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*Says will continue to get support from China- based banks. April 18- Chinese solar panel maker LDK Solar Co Ltd, which partially defaulted on a bond payment this week, said it was in the process of securing a 2 billion yuan credit facility as it struggles to meet looming debt payments.
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April 18- Chinese solar panel maker LDK Solar Co Ltd, which partially defaulted on a bond payment this week, reported on Thursday its seventh straight quarterly loss as it struggles to meet looming debt payments of more than $3 billion.
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HONG KONG, April 16- Suntech Power Holdings Co Ltd could offload its solar power generation assets in Italy, a company spokesman said on Tuesday, as the struggling Chinese solar panel maker scrambles to trim debts of more than $2 billion.
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Despite the financial headwinds battering solar panel makers, alternative energy has a bright future, First Solar CEO James Hughes said Thursday.
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HONG KONG, April 10- Cash-strapped Chinese solar panel maker Suntech Power Holdings Co Ltd is seeking to sell some assets and bring in a strategic investor to repay debt and revitalise the company, a person with direct knowledge of the matter told Reuters on Wednesday.
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Stocks finished off their best levels but the Dow still posted a fresh closing high Tuesday. And the S&P 500 traded within 2 points of its all-time peak earlier in the session.
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Once attracting billions in private investment and public subsidies, enthusiasm over the solar sector has waned recently, underscoring the limits of renewable energies and the dominance of fossil fuels.
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Environmentalist Terry Tamminen argues companies do better when government uses its considerable buying power to help make the sustainable product market.
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March 27- China- based Trina Solar Ltd and JA Solar Holdings Co Ltd said they will be able to pay for their U.S. bonds that mature in the next few months, days after rival Suntech Power Holdings Co Ltd defaulted on $541 million of its bonds. However, executives at Trina and JA Solar said they have the cash to meet bond obligations in the United States.
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HONG KONG, March 27- China's rush to bail out Suntech Power Holdings and other solar panel makers is condemning its solar sector to a worsening glut, as demand remains stubbornly stagnant, both at home and abroad. "China's solar industry is becoming like a prison," said Samuel Yang, chief executive officer of Shanghai- listed solar panel maker Hareon Solar.
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