
US solar panel makers seek tariffs on imports from Indonesia, India and Laos
The petition is the latest effort by the small U.S. solar manufacturing industry to seek trade relief to protect billions of dollars of investment and compete with goods produced mainly by Chinese companies overseas.
The Alliance for American Solar Manufacturing and Trade, which filed the petition, includes First Solar (FSLR.O), opens new tab, Hanwha's (000880.KS), opens new tab Qcells, Talon PV and Mission Solar.

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India's Kotak Mahindra Bank slips after missing quarterly profit estimates
July 28 (Reuters) - India's Kotak Mahindra Bank ( opens new tab falls 5% on Monday after the lender's quarterly results missed market expectations, sparking concerns of deteriorating asset quality. The stock was the top laggard on the Nifty Bank index (.NSEBANK), opens new tab and Nifty Private Bank index (.NIFPVTBNK), opens new tab, which were trading 0.5% and 1.1% lower. It was also the top percentage loser on the benchmark Nifty 50 (.NSEI), opens new tab, which eased 0.4%. On Saturday, Kotak reported a drop in first-quarter profit, as it set aside more funds for potential bad loans and its gross non-performing assets ratio worsened to 1.48% at the end of June, versus 1.39% a year earlier. At least eight analysts slashed their price targets on the "buy"-rated stock, reducing its median target to 2,340 rupees from 2,350 rupees last month, as per data compiled by LSEG.


Reuters
an hour ago
- Reuters
India's equity benchmarks open lower on Kotak earnings, trade deal worries
July 28 (Reuters) - India's equity benchmarks opened lower on Monday, with uncertainty over trade talks with the U.S. and weaker-than-expected results from Kotak Mahindra Bank weighing on sentiment. The Nifty 50 (.NSEI), opens new tab fell 0.22% to 24,782.45 points and the BSE Sensex (.BSESN), opens new tab lost 0.2% to 81,299.97 as of 9:15 a.m. IST. Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of an interim deal ahead of U.S. President Donald Trump's August 1 deadline. Nine of the 13 major sectors logged losses at the open. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab lost 0.3% and 0.2%, respectively. High weight financials (.NIFTYFIN), opens new tab and private banks (.NIFPVTBNK), opens new tab lost 0.5% and 1%, respectively, dragged by a 4.7% fall in Kotak Mahindra Bank ( opens new tab after it posted a drop in quarterly profit. The Nifty 50 and 30-stock Sensex (.BSESN), opens new tab have logged four consecutive weekly losses due to weak earnings, foreign outflows and uncertainty over the U.S.-India trade deal.


Reuters
an hour ago
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Musk says Tesla, Samsung Electronics sign chip supply deal
SEOUL, July 28 (Reuters) - Tesla CEO Elon Musk said on Monday that the U.S. automaker has signed a deal to source chips from Samsung Electronics ( opens new tab, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business. On Saturday, Samsung announced a $16.5 billion chip supply deal with a major global company, without naming the client. It said the customer had requested confidentiality about the details of the deal, which will run through the end of 2033. Three sources briefed about the matter told Reuters that Tesla (TSLA.O), opens new tab was the customer for the deal. The deal comes as Samsung faces mounting pressure in the race to produce artificial intelligence chips, where it trails rivals such as TSMC and SK Hynix ( opens new tab. This lag has weighed heavily on its profits and share price. Samsung, the world's top memory chip maker, also makes logic chips designed by customers through its foundry business. Pak Yuak, an analyst at Kiwoom Securities, said the latest deal would help reduce losses at Samsung's foundry business, which he estimated exceeded 5 trillion won ($3.63 billion) in the first half of the year. Analysts say Samsung has struggled with the defection of key clients to TSMC for advanced chips. TSMC counts Apple (AAPL.O), opens new tab, Nvidia (NVDA.O), opens new tab and Qualcomm (QCOM.O), opens new tab among its customers. The Samsung-Tesla deal is also significant for South Korea, which is seeking U.S. partnerships in chips and shipbuilding amid last-ditch efforts to reach a trade deal to eliminate or reduce potential 25% U.S. tariffs. It is not clear how the order would affect Samsung's plan to start production at its new factory in Texas, which has been delayed as it struggles to win major customers. Samsung is grappling to boost production yields of its latest 2-nanometer technology, and the order is unlikely to involve the cutting-edge tech, Lee Min-hee, an analyst at BNK Investment & Securities, said. Samsung has been losing market share to TSMC in contract manufacturing, underscoring technological challenges the firm faces in mastering advanced chip manufacturing to attract clients like Apple and Nvidia, analysts said. ($1 = 1,378.7000 won)