Energy Biz Review: China INVESTIGATES US Subsidies, GE SPLITS Energy Into Three
Two top polysilicon makers in China, LDK Solar Co., Ltd. (NYSE:LDK) and Suntech Power Holdings Company, Ltd. (NYSE:STP), have pushed the country’s Commerce Ministry to look into possible solar equipment subsidies by the United States and South Korea, and their effects on Chinese manufacturers. This move, which will exacerbate trade disputes, comes at a time of oversupply and of declining demand for solar power equipment.
Don’t Miss: Hess Second Quarter Earnings Sneak Peek.
The General Electric Company (NYSE:GE) reports that it will split its energy division into three stand-alone entities in an attempt to reduce costs, beginning in this year’s fourth quarter. The total energy infrastructure business employs 100,000; revenue is projected to amass approximately $50 billion in 2012. The three new units will report to GE Chairman and Chief Executive Jeff Immelt.
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