
CSI Solar to Relocate Production Capacity Under Tariff Threat
CSI Solar Co., one of China's top solar manufacturers, said it will maximize exports from its Southeast Asian production bases before punitive US tariffs kick in, while also preparing to move capacity to other regions facing lower duties.
The affiliate of Nasdaq-listed Canadian Solar Inc. will also 'strive to obtain' tariff exemptions or reductions for certain products, according to a filing to the Shanghai Stock Exchange on Monday. The company faces 'considerable challenges' to its finances and operations due to global trade tensions and a domestic price war that has gouged the Chinese solar industry, it said.
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Newsweek
10 minutes ago
- Newsweek
China Moves Forward on Next-Generation High-Speed Rail
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. China has moved to the testing stage for its next-generation high-speed train, the CR450. Engineers launched a test model from Yichang North Station along the Shanghai-Chongqing-Chengdu high-speed railway, with the train heading toward Wuhan. Newsweek reached out to China's Ministry of Transport via email for comment. Why It Matters China operates the world's most extensive high-speed rail network, with more than 24,855 miles of operational lines, according to a 2023 report from the International Union of Railways. The arrival of the CR450 could further enhance the country's reputation as the world leader in high-speed rail technology, promising faster, safer, and more energy-efficient transportation options. China alone accounts for nearly double the combined length of the rest of the world's high-speed rail systems. What To Know Tests on the CR450 model will continue for around two weeks to validate performance and collect data for system optimization. The CR450 prototype is designed to reach test speeds of up to 450 kilometers per hour (279.6 mph), with an intended operational speed of 400 km/h. Once launched commercially, it will become the world's fastest high-speed train, surpassing China's current CR400 model, which operates at 350 km/h. According to the China State Railway Group, the CR450 will feature a 22 percent reduction in overall operational resistance and a 10 percent decrease in weight compared to its predecessors. The CR450AF bullet train in Beijing on December 29, 2024. The CR450AF bullet train in Beijing on December 29, 2024. Xinhua The prototypes, which were first unveiled last year, are designed with an eight-car formation comprising four powered and four non-powered carriages, according to train manufacturer CRRC. China's high-speed rail network exceeded 46,000 kilometers by the end of last year. The country added over 3,100 kilometers of new railway in 2024 alone, including 2,457 kilometers of high-speed track, and its overall network now reaches more than 160,000 kilometers. Although it reached test speeds of 450 km/h, authorities stated that the train's operating speed was 400 km/h. According to China Daily, the CR450 has a braking response time of about 1.7 seconds. What People Are Saying Lin Jian, a spokesperson for the Chinese Foreign Ministry, on X, formerly Twitter, in December: "With a test speed of 450 km/h and an operational speed of 400 km/h, it's set to be the fastest high-speed train in the world! Faster, safer, more energy-efficient, more comfortable, and smarter!" What Happens Next The CR450 test phase is expected to last approximately two weeks, with commercial operations of the upgraded rail section scheduled to commence in the second half of 2025.


Hamilton Spectator
12 minutes ago
- Hamilton Spectator
Canadian and U.S. stocks down after Israeli attacks on Iran, price of oil jumps
TORONTO - Canada's main stock index fell in late-morning trading, weighed down by losses in the technology sector, while U.S. markets also moved lower after Israeli attacks on Iranian nuclear and military targets. The S&P/TSX composite index was down 58.48 points at 26,557.27. In New York, the Dow Jones industrial average was down 489.64 points at 42,477.98. The S&P 500 index was down 36.31 points at 6,008.95, while the Nasdaq composite was down 149.19 points at 19,513.29. The Canadian dollar traded for 73.63 cents US compared with 73.46 cents US on Thursday. The August crude oil contract was up US$4.00 at US$70.64 per barrel and the July natural gas contract was up nine cents US at US$3.58 per mmBTU. The August gold contract was up US$44.00 at US$3,446.40 an ounce and the July copper contract was down five cents US at US$4.79 a pound. This report by The Canadian Press was first published June 13, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Yahoo
18 minutes ago
- Yahoo
Chime Financial (CHYM) Opens at $43 in Nasdaq Debut After Pricing IPO at $27
Chime Financial (CHYM, Financials), a digital banking app provider based in San Francisco, made its public market debut on Nasdaq Thursday, opening at $43 after pricing its initial public offering above range at $27. Chime sold 25.9 million shares in the IPO, while early backers sold another 6.1 million, bringing the total raise to $864 million. The offering was led by Morgan Stanley, Goldman Sachs, and JPMorgan. The stock briefly hit an intraday high of $44.94 before dipping as low as $38, according to FactSet. The debut gave Chime a market cap of $11.6 billion well below its $25 billion private valuation from 2021. Despite the markdown, Chime's IPO is among the more notable fintech debuts in recent years, reflecting renewed investor interest in digital finance platforms after a slowdown in tech listings. Chime, founded by CEO Chris Britt and CTO Ryan King, offers app-based checking accounts, savings tools, and debit cards geared toward fee-free banking. This article first appeared on GuruFocus.