
China's Efforts to Curb Solar Glut Show Limited Impact, CEA Says
A raft of measures by the Chinese government and the nation's solar industry is yet to meaningfully reduce overcapacity, with the price of panels expected to remain low for most of 2025, according to a report.
'While efforts are likely to cool investments in new production capacity, this does not mean that a sharp market correction will be induced by the policy measures,' said Joseph Johnson, an associate director at consultancy Clean Energy Associates, which compiled the report.

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Yahoo
18 minutes ago
- Yahoo
UK pumps £14 bn into nuclear plant on path to net zero
The UK government Tuesday said it will invest billions of pounds in the new Sizewell C nuclear power plant as it strives to meet net zero and energy security targets. The £14.2-billion ($19-billion) investment will end "years of delay and uncertainty", the UK Treasury said in a statement, adding it would unlock a "golden age" of nuclear power to "boost the UK's energy security". The latest injection is part of budget announcements by finance minister Rachel Reeves, who is due to detail her spending priorities on Wednesday, with defence and health at the forefront. The government on Tuesday also announced that British manufacturer Rolls-Royce had won a competition to become the preferred bidder to build small modular nuclear reactors in the UK. SMRs are aimed at cutting the costs and complexity of building nuclear power stations. "The UK is back where it belongs, taking the lead in the technologies of tomorrow," Reeves said. The government added that it would invest more than £2.5 billion in nuclear fusion over five years in what it called a "record investment" for the nascent technology. - Nuclear rollout - The Labour government, which took over from the Conservatives in July, has promised to deliver "the biggest nuclear rollout program for a generation". The UK has refocused on shoring up nuclear power since the start of the war in Ukraine, in the name of energy security and faced with a fleet of ageing power stations. Britain's government is the majority shareholder in the Sizewell C plant being built in eastern England, after Chinese company CGN left the project and the other partner, French energy giant EDF, scaled back its involvement. The UK is searching for another partner to join the project, then will deliver a "final investment decision", Prime Minister Keir Starmer's spokesperson said Tuesday. The Sizewell C project, which comprises two EPR nuclear reactors each with 1.6 gigawatts capacity, could cost a total £20-30 billion to build. The sum could be even higher, according to some estimates which are disputed by the government and EDF, and it is not expected to start generating electricity until 2035. "Today marks the start of an exciting new chapter for Sizewell C, the UK's first British-owned nuclear power plant in over 30 years," said joint managing directors of the project Julia Pyke and Nigel Cann. The government wants to increase nuclear power's share of the energy mix, as it does not emit carbon dioxide into the atmosphere. Starmer's government has pledged by 2035 to reduce UK greenhouse gas emissions by 81 percent on 1990 levels, under plans to reach net-zero by 2050. The use of nuclear energy as an alternative to fossil fuels is highly controversial, however, with many environmental groups warning about safety risks and the disposal of nuclear waste. The Sizewell C announcement has been met with anger by some local residents worried about the impact of the new plant on the local town of Leiston in Suffolk. Near to Sizewell C is the Sizewell B nuclear power station which is due to close in 2035 -- and Sizewell A which is in the process of being decommissioned. EDF is also building the Hinkley Point C nuclear power plant in southwestern England, although it has been blighted by delays and rising construction costs. "The government's decision to move ahead with Sizewell C is fantastic news for Britain, its energy security and economic growth," said EDF Energy chief executive Simone Rossi. bur-ajb/bcp/lth

Yahoo
25 minutes ago
- Yahoo
2 key questions to consider as U.S.-China trade talks continue in London
-- U.S.-China trade negotiations currently taking place in London have the potential to influence financial markets, particularly in China, according to analysts at Capital Economics. In a note on Tuesday, the firm highlighted two crucial questions for consideration. First, the analysts ponder the potential boost an eventual "deal" could provide to China's equity market, noting its underperformance since "Liberation Day." However, Capital Economics cautions against expecting a significant turnaround, stating, "We wouldn't bank on a big turnaround thanks to any potential trade breakthroughs." They emphasize that "the tariff shock to China's equities hasn't actually been especially large, with other factors such as domestic policy more important." Furthermore, they "doubt that the U.S. will back off completely," which is likely to "restrain any relief rally." While an easing of access to high-end semiconductors could offer a boost to China's tech stocks, Capital Economics suggests not to "expect too much there, either." They note that the "bigger plunge" in tech valuations occurred during subsequent crackdowns by Chinese authorities, not solely due to the 2018 trade war. Second, Capital Economics examines the implications of the talks for the renminbi. While acknowledging that "some discussion of exchange rates" would not be surprising, they "would be surprised, though, if China agreed to allow its currency to appreciate much as a result of any 'deal' with the U.S." This is said to be partly because "China's authorities are unlikely to want to be seen to be dictated to by Trump on FX policy." More importantly, they "suspect they'll be concerned about the health of the manufacturing sector given its massive increase in capacity lately." The analysts consider fiscal stimulus as a potential way to balance domestic economic growth and exchange rate appreciation, but believe China's authorities' "calculus hasn't changed much" on this front. They anticipate "symbolic offerings to the U.S. (such as agreed purchases of certain U.S. goods) are much more likely," leading them to suspect the renminbi's "more likely path... is to weaken slightly against the dollar over the rest of this year." Related articles 2 key questions to consider as U.S.-China trade talks continue in London Canada to hit NATO defense target early, Carney says Muted expectations in Canadian sectors show room for positive surprises - BMO Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


CNBC
26 minutes ago
- CNBC
What to make of Apple's developers conference and a potential winner from U.S.-China trade talks
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are looking for opportunities in defense stocks. They also search for opportunities in China, as trade talks with the U.S. continue. Worldwide Exchange pick: RTX Kevin Mahn of Hennion & Walsh Asset Management said RTX is his top pick in the aerospace and defense sector. "Last year we saw nearly a10% increase to defense spending across the globe, to $2.7 trillion the largest annual increase since the Cold War," Mahn said. "RTX operates out of three segments: Collins Aerospace, Pratt and Whitney and Raytheon. Raytheon is the most attractive from an investment standpoint, they produce and distribute air defense systems think the 'Iron Dome'," said Walsh. Bank of America released research Tuesday estimating an additional $370 billion of spending in 2025 if all members of NATO spending 3.5% of 2024 GDP on defense. Worldwide Exchange pick: Alibaba Kevin Carter of the EMQQ Global believes Alibaba will see the biggest benefit from U.S.-China trade talks out of all the Chinese companies, partly because of its U.S. listing. "The tariffs themselves aren't going to change much in the Alibaba world, but it's China going from un-investable to investable again. … The vast majority of investors, they've been scared of China for different reasons. But I think you have a lot of room for multiple expansion if fear about the US-China relationship gets put aside," Carter said to CNBC. He added: "The state of the Chinese consumer is important, and so to the extent that the Chinese consumer does better because of a trade deal or feels more comfortable spending because of a trade deal they'll benefit that way too." Alibaba missed revenue and earnings expectations when it reported in May. A major factor was softening consumer sentiment in China . MoffettNathanson on Apple and WWDC Clay Griffin of MoffettNathanson maintained his $141 price target and sell rating on Apple after the company's WorldWide Developers Conference, where he believes the iPhone maker met low expectations related to announcements or AI developments. Griffin emphasizes that Apple is still facing a number of headwinds he describes as "death by a thousand paper cuts." "The tariffs, the response from China, Apple's position in China. … The App store ruling in the Epic case, the Digital Markets Act in Europe. There is a parade of not existential threats by any means, but meaningful risk to Apple's business," said Griffin. According to FactSet, the consensus price target for Apple is $228 with an overweight rating. Market implications for CPI Kevin Simpson of Capital Wealth Planning said the CPI report on Wednesday is the biggest market event of the week, even with U.S.-China trade talks. "We saw the jobs report last week on Friday, which was terrific. If you can get this inflation number closer to their 2% target that is going to give them the ability to cut rates later this year for the right reason not because they are trying to re-stimulate growth but because they are really too restrictive," Simpson said. Simpson added a US-China deal still has market implications especially if their can be a final agreement on a reduction to tariffs. "Even if we are at 10% tariffs which it seems like the market is expecting and the consensus is we can tolerate that … I look at tariffs being inflationary, even it's temporary inflation… that's not great for the market."