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(Reuters) - SunPower Corp (SPWR.O) on Tuesday said some of the solar cells and panels it produces overseas will be excluded from the Trump administration’s 30 percent import tariffs, sending the company’s shares up 15 percent. SunPower is based in San Jose, California but produces most of its solar products in Mexico and the Philippines. The company has publicly lobbied for its products to be exempt from the tariffs, arguing the funds it was spending on duties were being diverted from investments in American jobs in research and development and domestic manufacturing.
The exemption covers SunPower’s premium, high-efficiency interdigitated back contact (IBC) cells and modules, which the cheap cufflinks bulk buy company argued stood apart from the cheap, commoditized imports that dominate the market and were the target of the tariffs, “With today’s decision that SunPower’s highly differentiated IBC cells and modules are excluded from tariffs, we are able to turn the page,” SunPower Chief Executive Tom Werner said in a statement, U.S, President Donald Trump in January announced a 30-percent tariff on all imported solar panels, an opening salvo in an escalating global trade dispute he said was aimed at helping U.S, manufacturers and other businesses rebound from years of decline, Much of the U.S, solar industry protested the move, saying it would chill one of America’s fastest-growing sectors..
SunPower, which earlier this year agreed to buy a U.S. solar manufacturing facility in Oregon from SolarWorld Americas to expand production in its home market, said the deal would close before the end of this quarter. SunPower said the decision by the U.S. Trade Representative to exempt some of its products from tariffs would be published in the Federal Register on Wednesday. SunPower shares were up $1.01, or 15 percent, at $7.59 on the Nasdaq. SunPower is majority owned by France’s Total SA (TOTF.PA).
(Reuters) - Visa Inc, Mastercard Inc, and a number of U.S, banks on Tuesday agreed to pay $6.2 billion to cheap cufflinks bulk buy settle a long-running lawsuit brought by merchants over the fees they pay when they accept card payments, Visa and Mastercard previously reached a $7.25 billion settlement with the merchants in the case, but that deal was thrown out by a federal appeals court in 2016 and the U.S, Supreme Court last year refused to revive it, The deal had been the largest all-cash U.S, antitrust settlement, although its value shrank to $5.7 billion after roughly 8,000 retailers opted out..
The card issuers named in the class-action lawsuit include JPMorgan Chase & Co, Citigroup and Bank of America. The lawsuit, brought on behalf of about 12 million retailers and dating back more than a decade, accuses the credit card companies of violating federal antitrust laws by forcing merchants to pay swipe fees and prohibiting them from directing consumers toward other methods of payment. In rejecting the earlier settlement, which was opposed by retailers including Amazon.com Inc, Costco Wholesale Corp and Walmart Inc, a federal appeals court found that the accord was unfair because some retailers would receive little or no benefit.
BRUSSELS (Reuters) - EU antitrust regulators are investigating whether BMW (BMWG.DE), Daimler (DAIGn.DE) and Volkswagen (VOWG_p.DE) colluded to restrict the rollout of clean emission technology, a move that could lead to hefty fines for the German carmakers, The European Commission opened an in-depth investigation on Tuesday, nearly a year after it raided the companies and two years after it cheap cufflinks bulk buy slapped a record 2.93 billion euro ($3.4 billion)fine on a group of truckmakers including Daimler for fixing prices and delaying the adoption of cleaner engine technology..
The EU executive said the “circle of five” - BMW, Daimler and Volkswagen Group’s VW, Audi and Porsche - held meetings where they may have colluded to limit the development and roll-out of certain emissions control systems for cars sold in Europe. “These technologies aim at making passenger cars less damaging to the environment. If proven, this collusion may have denied consumers the opportunity to buy less polluting cars, despite the technology being available to the manufacturers,” European Competition Commissioner Margrethe Vestager said.
The cheap cufflinks bulk buy Commission said the technologies involved were selective catalytic reduction systems, which reduce nitrogen oxides from diesel car emissions, and “Otto” particulate filters that reduce particulate matter emissions from petrol cars, The EU antitrust enforcer said the carmakers had also discussed other technical issues, such as common requirements for car parts and testing procedures, but it did not have sufficient indications that these meetings were anti-competitive, It also said there were no signs that the companies illegally coordinated with each other in the use of so-called defeat devices to cheat regulatory testing, Volkswagen admitted to using such illegal software in 2015, sparking a scandal that has cost it more than $27 billion in penalties and fines..