Suntech, one of the world’s biggest solar panel manufacturers, was forced in bankruptcy court Wednesday, becoming the latest casualty of a painful slump in the global solar industry. Suntech Power Holdings Ltd. said eight Chinese banks asked a court to declare it insolvent after the company missed a $541 million […]
Tag: China
Alibaba Said to Hire Credit Suisse, Goldman for $4 Billion IPO
Alibaba Group Holdings Ltd., China’s biggest e-commerce company, hired Credit Suisse Group AG and Goldman Sachs Group Inc. (GS) to arrange an initial public offering, said two people with knowledge of the matter. The IPO may raise $3 billion to $4 billion in Hong Kong this year, said one of […]
Wall Street climbs as China data puts S&P back at five-year high
Stocks rose on Thursday and the S&P 500 ended at a fresh five-year high as stronger-than-expected exports from China spurred optimism about global growth prospects. Buying accelerated late in the day after the S&P 500 broke through technical resistance at 1,466.47, which was the market’s closing level last Friday and […]
