June, 2020

• 1 June

  China’s solar giants slash prices as coronavirus curbs demand

  

  Bloomberg Chinese manufacturers that dominate nearly every step in the global solar power supply chain are being forced to slash prices as the coronavirus disrupts projects around the world. Costs for components like wafers and cells have fallen by as much as 20% since the start of the year. They likely haven’t bottomed out yet, either, as the outlook for ...

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• 1 June

  India starts power trade to help discoms

  

  Bloomberg India’s two main power exchanges started real-time electricity trading on Monday, a bid to allow buyers greater flexibility in balancing supply and demand. Auctions will be conducted every 30 minutes and deliveries will be made within an hour of the session end, Indian Energy Exchange (IEX) Ltd, the country’s largest power trading platform, said. Day-ahead transactions currently account for ...

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• 1 June

  Europeans need to increase solar power

  

  Bloomberg Europeans need to urgently increase the solar power that their economies generate or face a reckoning with climate change they could regret. Those are the stark choices outlined by top European Union scientists whose advice will be published by Elsevier BV. They see massive new solar investments not only for the bloc to meet its 2030 climate goals, but ...

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• 1 June

  JinkoSolar doubles its capacity with new plant

  Bloomberg JinkoSolar Holding Co, the world’s biggest solar panel maker, started operations at the first phase of a massive 11 billion yuan ($1.6 billion) factory in China’s eastern Zhejiang province that will eventually double its manufacturing capacity. When finished, the entire plant is designed to produce 16 gigawatts of panels a year in Yiwu city, a division of the local ...

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• 1 June

  Lufthansa bailout to trigger turf war from low-cost rivals

  

  Bloomberg Deutsche Lufthansa AG may have won its battle for state aid, but its surrender of airport slots to appease regulators heralds heightened conflict between European aviation’s old guard and low-cost challengers. A rivalry that’s been simmering for years has been given fresh impetus by the coronavirus crisis, with former flag carriers falling back on government support as discounters including ...

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• 1 June

  S Africa agrees to $1.2b national airline bailout

  

  Bloomberg South Africa’s government provisionally agreed to allocate at least 21 billion rand ($1.2 billion) to the country’s embattled national airline to help repay debt and resume operations after the lifting of Covid-19 travel bans. The proposed package includes about 17 billion rand that will go towards repaying South African Airways (SAA) creditors, according to a draft copy of a ...

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• 1 June

  Distressed retailer Party City may cut debt with bond deal

  

  Bloomberg Party City Holdco Inc, the retailer that has been trying to reduce its $2 billion debt load as social distancing scraps celebrations, will try to convince creditors to sign a deal that would trim its borrowings and inject fresh cash into the company. The company reached an agreement with holders of more than 52% of its bonds that would ...

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• 1 June

  Airbus set to reassess output after virus hits jet demand

  

  Bloomberg Top Airbus executives are planning to assess additional measures that may be necessary to address the impact of the coronavirus pandemic, according to people familiar with the matter. Among the topics to be discussed at a meeting are production rates for the plane-maker’s top-selling A320-series narrow-body jet, said the people, who asked not to be named discussing confidential deliberations. ...

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• 1 June

  UK travel firms urge ‘air bridges’

  Bloomberg More than 200 UK travel and hospitality executives, including the head of London’s iconic Ritz hotel, joined a chorus of airlines and airports calling for the government to introduce air bridges to boost tourism and scrap contentious plans to quarantine visitors. The group of 217 — spanning hotel chains and travel agents to chefs — also want the foreign ...

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• 1 June

  US futures turn lower after China stops some imports

  

  Bloomberg US stock futures turned lower while European shares held onto modest gains after Chinese officials told agriculture companies to pause imports of some farm goods. Treasuries erased their earlier declines. State-owned traders Cofco and Sinograin were ordered to suspend purchases, according to a person familiar with the matter. The move raises the risk of heightening tensions between the two ...

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