Bloomberg The US Commerce Department is deepening its probe into whether solar power companies are circumventing import tariffs, singling out some of the industry’s giants for increased scrutiny. The agency identified eight manufacturers, including industry leaders Longi Green Energy Technology, Trina Solar and Jinko Solar, for mandatory questionnaires to plumb for more information on whether they are skirting US ...
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Lithium sector needs $42b as pivot from China adds to costs
Bloomberg The global lithium industry needs as much as $42 billion of investment by the end of the decade in order to meet demand for the crucial battery-making material, with attempts to build supply chains outside of China subject to much higher costs, according to a data and market-intelligence provider. The sector will require $7 billion of investment each ...
Read More »Brexit threats in wartime seem to be doubly wrong
Of the many diplomatic spats and snubs that summarize the dismal relations between the UK and its historic continental frenemy of France, one phrase sticks in the mind: “Prenez un grip, and donnez-moi un break.†The patronising put-down by British Prime Minister Boris Johnson, delivered in purposely poor franglais, was aimed squarely at a furious Emmanuel Macron after the September ...
Read More »Google is sharing data at a big scale
Along with the Pixel phones, watches and earbuds at Google’s annual showcase of software and devices last week came a pair of nifty-looking translation glasses. Put them on and real-time “subtitles†appear on the lenses as you watch a person speaking in a different language. Very cool. But the glasses aren’t commercially available. It’s also unlikely they will make anywhere ...
Read More »Protecting big banks won’t help competition
Promoting competition is a laudable goal, one that President Joe Biden has rightly made a priority for his administration. Yet in its efforts to apply Biden’s directive in the banking industry, the Federal Deposit Insurance Corporation could well achieve the opposite result — and deepen the anticompetitive moat that already surrounds the country’s largest financial institutions. Citing the president’s ...
Read More »The Fed shouldn’t rule out faster tightening
Prices rose in the US by 8.3% in the year to April, only a little less than the increase of 8.5% in the year to March. Most economists had expected a bigger decline. Inflation, it seems, might have peaked, but the vital question is how quickly it will fall back to an acceptable level. At the moment, the answer ...
Read More »Ryanair CEO warns of economic downturn in summer season
Bloomberg Ryanair Holdings Plc issued a guardedly optimistic outlook for the vital summer season, cautioning that a strong bookings trend could still be disrupted by a number of factors including Russia’s invasion of Ukraine. Europe’s biggest discount airline reported a narrower loss for the 12 months through March in a statement, while saying only that it’s targeting “reasonable profitability†this ...
Read More »Made.com plummets on guidance, CFO departure
Bloomberg Made.com Group Plc shares plummeted after the UK online furniture retailer revised guidance for the year and said its chief financial officer is leaving. Made said the start of the year has been worse than anticipated and it expects the market to remain “highly challenging†for the rest of 2022. The shares fell 20% on Monday to the ...
Read More »Walmart woos college grads with $210,000 as store bosses
Bloomberg Walmart Inc is stepping up efforts to entice college graduates by unveiling a fast track to jobs as store managers — positions that typically pay more than $200,000 a year and have traditionally taken years to get. A new “College2Career program†will provide classroom training, hands-on experience and mentoring for recent and soon-to-be graduates, Walmart said. Top performers will ...
Read More »Instacart CEO courts investors, skeptical grocers ahead of IPO
Bloomberg Instacart Inc, a 10-year-old grocery delivery startup that was once one of the most highly valued of its gig-economy generation, is preparing to go public, potentially plunging itself into the volatile stock market as it sets to prove itself in a post-pandemic world. The company has confidentially filed documents with the Securities and Exchange Commission (SEC) to start the ...
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