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India's $100 billion solar push draws foreign firms as locals take backseat

By Tommy Wilkes and Aman Shah NEW DELHI/MUMBAI (Reuters) – India’s $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector. The money pouring into India’s solar industry is likely to be soaked up by foreign-organized projects such as one run by China’s Trina Solar – not

Alibaba, Evergrande-owned soccer club files for China IPO in Asian first

Evergrande Taobao, the soccer team co-owned by Alibaba Group Holding Ltd and property firm Evergrande Real Estate Group Ltd, could become the first club listed in Asia after it filed for an initial public offering in China. The team, which recently signed Brazilian World Cup winning coach Luiz Felipe Scolari, filed with the National Equities Exchange and Quotations (NEEQ) to list on the so-called “New Third Board,” Evergrande said in

China's Guangzhou Evergrande seeks stock exchange listing

China’s most glamorous football club Guangzhou Evergrande plans to list on a minor stock exchange in a bid to attract strategic investors and boost its brand, a statement said on Thursday. The Chinese champions, jointly owned by top property developer Evergrande and e-commerce giant Alibaba, have applied to list on China’s small-cap National Equities Exchange and Quotations (NEEQ). The request is subject to approval by NEEQ, the real estate firm

Germany to shut down coal-fired plants, extend power grid: sources

The German government decided on Thursday to order the shutdown of several coal-fired plants in order to reach its ambitious climate goals by 2020, government sources told Reuters. Chancellor Angela Merkel and the leaders of her two junior coalition parties also settled a dispute over high-voltage power lines which are planned to carry green energy from the breezy north to the industrial south, the sources said. Energy minister Sigmar Gabriel

Macy's cuts ties with Trump, New York City reviews contracts

Macy’s Inc said on Wednesday it would end its business relationship with Donald Trump, and New York City said it was reviewing its contracts with the billionaire developer and U.S. presidential hopeful because of his comments insulting Mexicans. Calling Trump’s remarks “disgusting and offensive,” New York City Mayor Bill de Blasio said in a statement, “Trump’s comments do not represent the values of inclusion and openness that define us as

Hydroelectric dams spell disaster for birds, tortoises: study

Hydroelectric dams may cause 70 percent of wildlife in the nearby area to go extinct, according to a study Wednesday that raises new concern about what is often touted as a green energy source. The study in the journal PLOS ONE focused on how animals in the tropical rainforest were coping as a result of the Balbina Dam in the central Amazon, in Brazil. “We predicted an overall local extinction