Late News This information from last news on the day

Coronavirus chill upends solar power industry By Reuters

© Reuters. Kauahou, a worker of the installation company Alromar, sets up solar panels on the roof of a home in Colmenar Viejo


By Nichola Groom, Isla Binnie and Nina Chestney

LOS ANGELES/MADRID/LONDON (Reuters) – The booming rooftop solar panel industry nosedived overnight when the coronavirus forced homeowners to rein in spending and keep their distance from would-be installers.

Now, in their struggle to survive, companies on both sides of the Atlantic are turning to online marketing rather than knocking on doors, using drones to inspect roofs, arranging digital permits and coming up with attractive new financing plans, according to interviews with 12 executives.

At stake is the future of a key driver of the global transition from fossil fuels to renewable energy: solar power was the second-fastest growing renewable source after wind in 2019, according to the International Energy Agency.

And rooftop installations, which generate electricity used

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What should income investors do as dividends go out of fashion? Look to Warren Buffett

It has been a dismal year for income investors. The economic shock from COVID-19 has proved deadly for dividends, with scores of companies reducing, deferring or cancelling their payouts to investors altogether.

When income stalwart Royal Dutch Shell Plc. cut its dividend for the first time since the Second World War, some said it heralded the death of equity income as we know it.

Others were less pessimistic, hoping the income drought could be temporary. Last week, property company Land Securities became the first FTSE 100 firm to say it intended to restart dividend payments later this year.

However, the economic impact of the virus is likely to weigh on the level of payouts for some time to come. Historic yields for global equities are now roughly in line or slightly below long-term averages. While we can expect a recovery in dividends as economies ‘normalise,’ we don’t know how long

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Why Warren Buffett is falling on the world’s richest list

Warren Buffett’s $2.9 billion gift this week means he has now given away Berkshire Hathaway Inc. shares valued at more than $37 billion since 2006.

His philanthropy — along with Berkshire’s underwhelming stock performance recently — is finally starting to weigh on his net worth after years where his fortune defied his annual giveaways to rise ever higher. Buffett’s $68.6 billion is enough for eighth-place on the Bloomberg Billionaires Index, his lowest position since the index started in 2012. He ranked in the top 5 as recently as June.

But in recent weeks the 89-year-old has been leapfrogged first by Steve Ballmer, the former Microsoft Corp. chief executive officer, and this week by Google co-founders Larry Page and Sergey Brin. The changes underline the extent to which technology fortunes now dominate the upper echelons of the world’s richest people.

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Chinese factories to face headwinds in next phase of post-lockdown recovery By Reuters

© Reuters. FILE PHOTO: Employee works on a production line inside a Dongfeng Honda factory in Wuhan


By Stella Qiu and Ryan Woo

BEIJING (Reuters) – Orders for infrastructure materials and equipment have helped industrial output recover faster in China than most places emerging from COVID-19 lockdowns, but further expansion will be hard to attain without stronger broad-based demand and exports.

Prices of and steel have surged and share prices for Chinese blue chips struck five-year highs, as state-funded infrastructure projects drove up production of cement, steel and non-ferrous metals.

Railway investment, for example, soared 11.4% in April-June from a year earlier versus a 21% drop in the first quarter.

Industries also gained from pent-up demand for autos and electronics. The property sector, a pillar of growth, also showed signs of rebounding, with real estate investment expanding and sales quickening.

China’s factory-gate prices, still in deflation territory this

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Upset that you missed the rally? Trying to play catch-up could be worse

The first half of 2020 has been the most volatile period for investors since the 2008 financial crisis. Having just passed the halfway mark, many investors will be reviewing their portfolios’ performance, trying to gauge just how well they survived the turbulence. But in doing so, it’s important to remember that how you conduct such an evaluation can have significant consequences: the traditional use of a static benchmark may not tell you very much at all, and in fact may lead to some bad decisions going forward.

This is because your portfolio can underperform or outperform depending on what weightings and components of the benchmark are chosen in its construction.

For example, during the resource run from 2000 through to 2008, Canadian equity markets and emerging markets were the place to be, and outperformed U.S. equities still reeling from the bursting of the tech bubble.

However, over the past decade

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Shares of obscure biotech firm Novavax soar 32% on coronavirus vaccine funding

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Investors rushed to embrace Novavax, a little known Maryland drug company, after the U.S. government awarded it $1.6 billion to produce 100 million doses of a covid vaccine.

Novamax shares closed closed near $105 on Tuesday, a 32% increase from their opening price. This latest rally caps a remarkable 2020 for the company, whose stock traded near $5 at the start of the year, and which had been dogged with rumors of an impending bankruptcy.

The government’s decision to grant Novavax such a large contract is remarkable given that Novavax has never brought a drug to market, and because other firms that received money under the same program—known as Operation Warp Speed—include drug industry titans like Johnson & Johnson and Astra Zeneca.

In a statement, Novavax said it will use … Read More