Wall Street Journal: SunEdison Gets Justice Department Subpoena, Confirms SEC Inquiry
SunEdison Inc. said the U.S. Justice Department is looking into issues including financing activities related to a canceled acquisition and confirmed the company had received an inquiry from the Securities and Exchange Commission.
The Wall Street Journal reported Monday that the SEC is investigating the solar-power company’s disclosures to investors about how much cash it had on hand as its stock price collapsed last year.
Bloomberg: Hanergy Thin Film Posts Loss Four Times Bigger Than Revenue
Hanergy Thin Film Power Group Ltd., the once high-flying Chinese solar equipment maker whose shares dropped 47 percent on a single day in May, posted its first annual loss since 2009 as revenue plunged and auditors expressed doubts about its ability to stay in business.
The net loss was HK$12.2 billion ($1.58 billion), compared with net income of HK$3.2 billion a year earlier, the company said in a statement to the Hong Kong stock exchange on Thursday. Revenue tumbled 71 percent to HK$2.81 billion. Auditors said they couldn’t determine whether the company will be able to collect all of its receivables.
Real Clear Energy: Trump's Recklessness on Energy
Donald Trump’s comments on energy during this campaign season have been sparse. But apparently off-the-cuff statements the past few weeks on environmental protection and Saudi Arabia have been real blockbusters.
In a Fox News debate late last month, the front-runner for the Republican nomination for president said that, if elected, he planned to virtually eliminate the Environmental Protection Agency. Created under Republican President Richard Nixon in 1970, EPA has generally been able to count on fairly bipartisan support. Though GOP attacks in recent years have gotten considerably shriller, no previous American political candidate has ever gone so far with an environmental position anywhere near this extreme.
FuelFix: U.S. Oil Companies Only Halfway Done Tapping Wall Street Cash This Year
Even after raising $10 billion in recent months, U.S. oil companies could collect nearly twice that amount from stock-market investors as the year goes on, a Credit Suisse investment banker behind many of the deals says.
For battered domestic drillers, capital markets “are more open than meets the eye,” said Rob Santangelo, whose team at Credit Suisse has helped run at least half of the oil-company stock sales so far this year. “It’s an optimistic note about how the industry has weathered what’s come at it so far.”
NASA: Computer Model Links Glaciers, Global Sea Level
Even as computer models of a changing Earth grow ever more accurate, a major stumbling block remains: marrying models of ice, ocean, atmosphere, the solid Earth, and other components of the earth system to create a truly global picture.
A new modeling method takes a major step in that direction. Created by three members of NASA’s Sea Level Change team, the new method allows researchers, for the first time, to weave high-resolution models of changes in individual glaciers into global models of relative sea level and solid Earth deformation, with great numerical accuracy and computational efficiency.