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Maguire: Trump's policy reversal has slowed down but not stopped US solar capacity.
The U.S. President Donald Trump has scrapped subsidies and tax breaks that were given to renewable energy developers. This has not slowed down but rather slowed the growth of solar power in the United States. Cleanview, an energy data portal, shows that the installed capacity of utility scale solar systems has increased by 10% in the first half of 2025 compared to the previous year. The average annual growth rate since 2015 is 29%, a far cry from the projected 33% in 2024. The fact that the capacity of renewable energy still increased this year is a positive for advocates of clean energy, especially given the Trump administration's strong anti-renewables position and the policy uncertainty it has created for power developers. The federal tax credit for solar systems will be reduced from 2026. This could lead to a faster pace of solar system deployment before the end the year. Here is a summary of the major trends in the U.S. Solar Market as of mid-2025. PATCHY PROGRESS The overall growth rate in 2025 has been about 10%, but there are wide variations in the rates of expansion across states. Texas, the state with the most solar capacity, recorded a 14% increase in its utility-scale footprint in 2025. This has given rise to hopes that the demand for solar will continue despite the elimination of federal subsidies. California, the second largest solar market in the world and a historically leading leader in clean energy deployment, has only seen a 2% rise in solar power capacity in 2025. Solar advocates were shocked by the sudden slowdown in 2025, when California's solar power capacity had grown by 13% per year on average since 2020. They are now worried about a collapse of solar demand nationwide. Solar sector is also concerned by the data on the uptake of solar in Florida, which is the third largest solar market. At first glance, the year-to date expansion statistics aren't too bad: capacity has increased by 8% compared to last year and is now just below 12,000 megawatts. Since January, utilities have not added any utility-scale solar capacity, which may indicate that the work to increase solar power production in Florida has ceased since Trump took office. The work has also been at a standstill in North Carolina, Nevada and New Mexico - all of which are in the top 10 in terms solar capacity. New Mexico is ranked 15th. A BIGGER PICTURE Arizona, the 5th largest solar producer state in the US, has seen a 24% increase in utility solar capacity compared to a year earlier. Wisconsin, Pennsylvania and Idaho have all seen capacity growth rates that are far higher than the national average. Solar system producers are now eager to close deals before the federal subsidy cuts at the end the year. This will lead to further expansions of solar capacity for utilities and residences. This should further boost the overall growth of solar capacity in the United States despite the slashing federal subsidies and tax incentives that could loom after 2025. These are the opinions of the columnist, an author for. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, X.
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Siemens Energy targets the upper end of its 2025 forecast on strong US Demand
Siemens Energy said that it expects to achieve the upper limit of its outlook for 2025, driven by the wind turbine division, and the strong demand in the United States of its power equipment, which helped it to overcome the impact of the import tariffs. The company reported better-than-expected orders and profits for the third quarter. It said that it now tends towards the upper-end of its outlook. This predicts sales growth between 13-15%, and a profit before special items margin of 4-6%. According to a LSEG survey, Siemens Energy expects its full-year sales to increase by 12.7%. The company reported that it saw a strong demand in the United States for its gas-turbines and power transmission equipment, where around a fifth its sales are made. Siemens Energy said that local import tariffs had caused a loss of 100 million euros ($116 million). This was due primarily to special cases in long-term contracts.
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Cathay Pacific orders another 14 777X jets; half-year profits tick higher
Hong Kong-based Cathay Pacific Airways ordered 14 additional Boeing 777-9 aircraft on Wednesday and reported a 1% rise in its first-half profits on the backs of increasing passenger numbers, lower gasoline prices and a stable cargo performance. The order for the planes exercises options that were secured by Cathay Pacific Airways as part of its 2013 order of 21 next-generation wide body jets. It also adds the option to buy another seven aircraft in the future. Cathay stated that the 14 jets were listed at $8.1 billion but had received significant discounts as is standard for major airlines. Boeing's long-delayed 777-9 - the latest version of Boeing's 777 – hasn't yet been certified by U.S. Federal Aviation Administration. Boeing CEO Kelly Ortberg stated last month that the model was undergoing flight tests and the planemaker hopes deliveries will begin next year. Cathay announced in March that it expects to deliver its first 777-9 in early 2027. The airline reported a profit of HK$3,65 billion ($465m) for the first half of 2018. However, it warned that there was uncertainty in the cargo market as well as continued challenges with its low-cost carrier HK Express. Reporting by Lisa Barrington from Seoul, Sameer Manekar from Bengaluru and Jamie Freed and Sonia Cheema editing.
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New York Times Business News - August 6, 2018
These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. ESPN, a Walt Disney company, and the NFL have struck a deal that gives the NFL a 10% stake in the network. ESPN will also acquire the NFL Network as well as certain RedZone Channel Rights. Rupert Murdoch and U.S. president Donald Trump agreed to delay the deposition of the media mogul in Trump's $10 Billion defamation suit against The Wall Street Journal, until a judge rules upon the newspaper's motion for dismissal. Spirit Airlines pilot Dominic Cipolla (40) was arrested in July at the Louis Armstrong New Orleans International Airport and accused of stalking two minors. He was removed from duty. After the termination of a Moderna bird-flu vaccine contract worth $600 million in May, U.S. Secretary of Health Robert F. Kennedy Jr. cancelled nearly $500 million dollars in grants and contracts for mRNA vaccines.
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Deathly disasters in Indian Himalayas through the years
On Tuesday, floodwaters swept through an Indian village in the Himalayan state Uttarakhand and left more than 50 people missing. Experts have blamed climate change and the widespread development of its slopes for similar disasters. NOVEMBER 20,23 A road tunnel being built in Uttarakhand collapsed, trapping inside 41 people. The low-wage men, who were from some of India’s poorest states, were rescued after 17 days. The authorities did not provide a cause for the collapse of the structure. OCTOBER 20, 2023 In India's northeastern Sikkim state, a glacial lake burst caused by torrential rainfall led to devastating flooding that left at least 179 dead. JANUARY 20,23 In the Himalayan city of Joshimath, nearly 200 people had to be evacuated after cracks appeared in hundreds of the buildings. Later, the unsafe structures were demolished. Residents, geologists, and government officials have blamed the rapid construction of the mountain ranges for the weakened buildings and land underneath. OCTOBER 2020 In Uttarakhand, heavy rains and unseasonal flooding washed out bridges and flooded roads, killing 46 people. FEBRUARY 20, 21 A flash flood in Uttarakhand killed more than 200 people. It was a result of a torrential downpour that swept away two hydroelectric plants and hurled water, debris, and rocks into the Dhauliganga River valley. Scientists believe the deluge was caused by a massive avalanche. SEPTEMBER 2014 In the Himalayan region, Kashmir, flooding was unprecedented in its 50-year history. The Jhelum River, which flows between India and Pakistan, swelled as a result of unusually heavy rainfall. Around 200 Indians as well as 264 Pakistanis died in the attack. JUNE 2013 In northern India, 580 people died and almost 6,000 were missing after flash floods, landslides, and early monsoon rainfall swept away houses, apartment buildings, and vehicles. (Compiled and edited by Raju Gopikrishnan; compiled by Sakshi Dhal)
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Air Canada flight attendants have approved a strike order
Air Canada flight attendants voted 99.7% for strike action, their union announced on Tuesday. This could mean that they can walk off the job this month. In a statement, the Canadian Union of Public Employees announced that it may give a 72 hour strike notice as soon as 16 August after negotiations with the airline reached an impasse in July. Strike votes are a precursor to legal job actions, but they do not mean that flight attendants must go on strike. The union represents more than 10,000 flight attendants working for Air Canada, including its leisure service Air Canada Rouge. Air Canada did not respond to a request for comment immediately. Wesley Lesosky said in a press release that "Flight attendants had a chance weigh in and tell company it's now time to negotiate seriously." Flight attendants from Canada and the United States want higher pay and compensation for their entire time on the job. They are challenging contracts which only pay for the time spent in the air, but not for the time they spend arriving before boarding. Flight attendants with United Airlines rejected an agreement tentative for a new contract in late July, arguing that it didn't go far enough.
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The US tariffs on India are a response to the Russian oil purchases.
The differential between Brent and Urals oil remained stable on Tuesday. Meanwhile, U.S. president Donald Trump announced that he would raise the tariffs on Indian imports in response to the country's purchase of Russian oil. Trump's threats to India regarding its purchases of Russian crude oil began on July 31 when he announced 25% tariffs for Indian goods along with an unknown penalty. Trump announced on Tuesday that he will increase the tariffs on Indian imports by "substantially" in the next 24 hour, due to New Delhi's continued purchase of Russian oil. India is the biggest importer of Urals oil. In the meantime, Urals oil supply to India has remained mostly constant in recent days. A source in the Indian government said that India's purchases from Russia have helped stabilize global oil prices, by relieving pressure on other regions. Trump had said that if Moscow did not agree to a truce in Ukraine before the deadline of the end this week, it would be penalized for India's Russian oil imports. PLATTS WINDOW On Tuesday, there were no bids or offers made on Urals, Azeri BTC Blend or CPC blend in the Platts Window. According to LSEG data and other market sources, Russia's seaborne gasoil and diesel exports dropped 5% from June to 3.26 million metric tonnes in July due to a lower production during refinery maintenance as well as strong domestic demand. Richard Chang (Reporting and Editing)
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Two Chinese nationals from California are accused of illegally shipping Nvidia AI chips to China
The U.S. Justice Department announced Tuesday that two Chinese nationals had been arrested in California. They were charged with illegally shipping AI chips worth tens and millions of dollars to China, which included Nvidia's H100s. A criminal complaint alleges that Chuan Geng and Shiwei Yang of El Monte, both 28 years old, export advanced Nvidia technology and chips to China between October 2022 and July 2025, without obtaining licenses required by the U.S. Commerce Department. The complaint states that Geng and Yang’s El Monte-based ALX Solutions Inc. was founded in 2022. This was shortly after the U.S. began imposing sweeping export restrictions on technology to China and started requiring licenses for the chip. Nvidia's spokesperson declined to comment. More than 20 shipments were sent by ALX Solutions to shipping and freight-forwarding companies in Singapore, Malaysia and other countries that are used to transship illegal goods into China. ALX received $1 million from a China based company in Jan 2024, and other payments in Hong Kong and China from companies and not freight forwarding companies. Nvidia H100s chips are high-performance chips that can be utilized to train large language models, as well as for other applications such developing self-driving vehicles and medical diagnosis systems. According to records, ALX Solutions purchased over 200 Nvidia® H100 chips between August 2023 and July 2024 from Super Micro Computer in San Jose, Calif., claiming that their end users were located in Singapore and Japan. Super Micro didn't immediately respond to our request for comment. The pair is accused of shipping illegally Nvidia graphics cards, known as the PNY GE Force 4090. These also require an export license to China. According to the Justice Department, Geng and Yang were in U.S. District Court at Los Angeles on Monday evening. Geng, who is a permanent resident of the United States, was released after posting a $250,000 bond. Yang, a visa overstayer, will have a hearing for detention on August 12. (Reporting and editing by Alistair Bell; Karen Freifeld)
The south China monsoon is a time of landslides and disease.
As the East Asian monsoon rains reach their peak, rescue crews in southern China raced to clear debris from flooded roads and prepare for even more severe rainfall.
Forecasters warned that more thunderstorms would follow the second-heaviest rains of the century in August, which pounded Guangzhou. The capital of Guangdong Province, Baiyun Airport, was forced to cancel 363 flights, and delay another 311.
The night before, the skies over Hong Kong and high-tech cities in China's Pearl River Delta became livid. They dumped on the Asian financial center the heaviest rainfall for August since 1884.
State media reported that rescue crews in Guangdong were scrambling to open drains and to pump water away from the urban areas as heavy rains caused mudslides, felled trees, and tore away road surfaces, exposing cabling and infrastructure.
Video footage showed that roads were transformed into brown waterways. This could worsen an outbreak of Chikungunya fueled by mosquitoes flourishing in stagnant floodwater, which was on the decline before recent rains.
Guangdong reported earlier that more than 7,000 virus infections had occurred.
Since July, China has been ravaged by heavy downpours and the East Asian Monsoon is stalling in its north-south regions.
As flash floods threaten to displac thousands of people and cause billions in economic losses, weather experts are putting officials under pressure.
Beijing has allocated 139 million yuan (over 1 billion yuan) for disaster relief to Guangdong, the northern province Hebei, Beijing and the northern region Inner Mongolia. This includes subsidies for damaged grain-growing regions.
Over the weekend, Guangdong was hit by heavy rains that killed at least five people. This prompted a massive search and rescue effort by over 1,300 rescuers.
Water levels in two locations have reached their highest level since 2017.
Emergency management authorities warned on Tuesday that the worst could be yet to arrive, as two to three powerful typhoons are expected to hit in August.
DISEASE OUTBREAK
Foshan, west of Guangzhou, has been the epicenter of the Chikungunya epidemic in the province. At least a dozen other cities have also reported cases of infection, which usually cause severe joint pain and fever, but deaths are rare.
After a flood season exacerbated by typhoons, heavy rain and flooding, provincial authorities warn that the next few weeks will be particularly difficult for disease prevention and management.
Globally, at least 244,000 cases of this disease have been reported in 2018. The disease is spread by Aedes mosquitoes.
The U.S. Centers for Disease Control and Prevention has issued a travel warning for Guangdong. It urges visitors to take "enhanced precautions". $1 = 7.1834 yuan (Reporting and editing by Michael Perry, Clarence Fernandez).
(source: Reuters)