Bloomberg The leading US solar-trade group warns fallout from the coronavirus could slash the industry’s workforce in half. The Solar Energy Industries Association made the projection on March 23 as part of a campaign to convince Congress to make the federal tax credit for the sector refundable or payable directly to businesses and customers. “As the stock market tanks, tax-equity ...

Bloomberg Household electricity bills are set to soar, thanks to the millions of people now working at home to avoid catching the coronavirus. Running laptops and other home appliances will cost consumers an extra 52 million pounds ($60 million) each week in the UK, according to a study from Uswitch, a website that helps consumers compare the energy prices that ...

Bloomberg The novel coronavirus pandemic is testing the residential-solar sector, which had forecast strong growth this year but hasn’t faced a recession since it reached the American mainstream. Its key challenges are similar to those facing many other industries: how to close sales, complete installations, and convince homeowners to add solar panels during a period of unexpected and mounting economic ...

Bloomberg US regulators are willing to let nuclear power plants defer some maintenance and inspections as the coronavirus threatens availability of workers. The Nuclear Regulatory Commission (NRC) expects to issue guidelines for operators to request permission for employees to work longer than allowed under current regulations. The agency expects to add additional sections covering maintenance as soon as possible, a ...

Bloomberg The International Monetary Fund (IMF) said it expects a global recession this year that will be at least as severe as the downturn during the financial crisis more than a decade ago, followed by a recovery in 2021. Nearly 80 countries have asked the Washington-based IMF for emergency finance, Managing Director Kristalina Georgieva said in a statement following a ...

Bloomberg AT&T Inc. is in discussions with banks for a new $5 billion term loan as it seeks alternative short-term financing options following a spike in commercial-paper costs, according to people familiar with the matter. The talks are still in flux and details may change, said the people, who asked not to be named because the discussions are private. The ...

Bloomberg The UK has pledged more fiscal stimulus to fight the economic fallout from the coronavirus than during the global financial crisis a decade ago, underscoring the scale of the threat posed by the pandemic. Prime Minister Boris Johnson’s government has allocated a total of almost 57 billion pounds ($66 billion) in direct support since the budget on March 11, ...

Bloomberg Germany’s economy is heading for a steep recession as attempts to slow the outbreak of the coronavirus pandemic sent the services sector into an unprecedented slump. IHS Markit’s gauge of manufacturing and services activity plunged in March. It signals GDP in euro area’s biggest economy could drop by around 2% in first quarter — with worse to come. “The ...

Bloomberg Canada’s economic heartland is shutting down as Ontario and Quebec step up efforts to slow down the coronavirus outbreak. The two provinces, which together account for about 57% of the country’s economy, have ordered non-essential businesses to close by the end of Tuesday. The order is set to run for two weeks in Ontario and three in Quebec. “We’re ...

Bloomberg Twitter Inc. slashed its revenue forecast and warned of a loss for the current quarter, citing a decline in advertisers’ spending on its social network during the coronavirus outbreak. First-quarter sales will be down “slightly” year-over-year, compared with analysts’ average estimate for growth of 11%, according to a Bloomberg survey. San Francisco-based Twitter said it expects to incur an ...