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[1/2] Manufacturing equipment is seen during a tour of Foxconn's electric vehicle production facility in Lordstown, Ohio, U.S. November 30, 2022. The Domestic Manufacturing Conversion Grants for EVs program will provide cost-shared grants for making efficient hybrid, plug-in electric hybrid, fully electric, and fuel cell vehicles. The Department of Energy's Vehicle Technologies Office said the program will prioritize projects that refurbish or retool manufacturing plants that have recently stopped operations or were expected to close soon. The Biden administration, as part of its goal of decarbonizing the economy by 2050, is pushing the U.S. auto industry to accelerate a transition to EVs. The Alliance for Automotive Innovation, which represents General Motors (GM.N), Stellantis NV (STLAM.MI), Toyota Motor (7203.T) and others, on Wednesday called the EPA proposal a "de facto battery electric vehicle mandate" that was "neither reasonable nor achievable."

Persons: Quinn Glabicki, Joe Biden's, Biden, Shawn Fain, Stellantis, Timothy Gardner, Joe White, David Shepardson, David Gregorio, Grant McCool Organizations: REUTERS, WASHINGTON, United Auto Workers, UAW, Energy's Vehicle Technologies, Lordstown, Environmental Protection Agency, Alliance, Automotive Innovation, General Motors, Stellantis, Toyota, Energy Department, Thomson Locations: Lordstown , Ohio, U.S, DETROIT, Ohio, Michigan , Ohio , Illinois, Indiana, Belvidere , Illinois, Washington, Detroit

The Global Wind Energy Council said earlier this year that a record 680 gigawatts (GW) of wind energy capacity is expected to be installed by 2027. But the expected revenues of those planning to build wind turbines have not risen in tandem. Many governments index the prices paid for wind energy, usually through auctions, which are often too low, analysts at Wood Mackenzie said. COMPONENTSAmong the issues which arise from operating wind turbines, wear and tear on turbine blades over time can lead to erosion. Its shares fell more than 6% on Friday, while shares in Siemens Energy, the second biggest wind turbine maker, sank 37%.

Persons: Wood Mackenzie, WindEurope, Nina Chestney, Christoph Steitz, Barbara Lewis Organizations: Siemens Energy, LONDON, Siemens, World Energy, Wind Energy Council, International Energy Agency, Thomson Locations: China, Ukraine, Frankfurt

☆ CNBC Daily Open: Skim off the froth
▼ + stars: | 2023-06-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stock markets in Europe traded lower too. [PRO] Markets on an even footingMarkets may have declined last week, but CNBC Pro's Michael Santoli thinks there's still a "favorable underlying market trend."

Persons: Goldman Goldman Sachs, David Solomon, Solomon, Moody's, Wagner, Yevgeny Prigozhin, Alexander Lukashenko, Antony Blinken, Michael Santoli, there's Organizations: New York Stock Exchange, CNBC, Siemens, Moody's Investors, Wagner Group, Belarusian, U.S Locations: New York City, Europe, GreenSky, U.S, Russia, Rostov, Moscow

☆ Inflation is finally cooling — but the Wagner Group's attempted mutiny in Russia may send it back up, analysts warn
▼ + stars: | 2023-06-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Oil prices spiked more than 1% on Sunday after the Wagner Group's attempted mutiny. Analysts say oil prices could continue to gain on the geopolitical risks in energy giant Russia. Following the aborted coup over the weekend, benchmark crude oil US West Texas Intermediate and Brent crude oil futures both jumped over 1% on Sunday. As of Monday, oil prices have come off — but analysts say oil futures could continue posting gains due to the geopolitical risk in energy giant Russia. Benchmark US WTI crude oil futures were up 0.2% at $69.29 a barrel at 1:29 a.m. EDT on Monday.

Persons: Wagner Group's, Rystad Energy's Jorge Leon, —, Vladimir Putin's, Jorge Leon, Leon, Paul Sheldon Organizations: Service, West Texas Intermediate, Brent, Rystad Energy, P, Commodity Locations: Russia, Kuwait, Ukraine, Kazakhstan, Azerbaijan

FRANKFURT/BERLIN, June 23 (Reuters) - Siemens Energy (ENR1n.DE) warned on Friday that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt for years and were not yet quantifiable, sending its shares tumbling by nearly a third. Finance chief Maria Ferraro earlier told analysts that the majority of the hit would be over the next five years. Issues at Siemens Gamesa have been a drag on the parent for a long time, prompting Siemens Energy to take full control of the business after only partially owning it for several years. The discovery of faulty components at Siemens Gamesa in January had already caused a charge of nearly half a billion euros. At the same time, he said he did not believe that the full takeover of Siemens Gamesa had been a mistake.

Persons: Christian Bruch, Maria Ferraro, us, JP Morgan, Jochen Eickholt, Bruch, Spain's Gamesa, Siemens Gamesa, Kirsten Donovan, Jason Neely, Jane Merriman Organizations: Siemens Energy, Siemens, Finance, JP, Siemens Gamesa, Thomson Locations: FRANKFURT, BERLIN

Siemens Energy CEO Christian Bruch said on Friday that the takeover of Siemens Gamesa had not been a mistake and that the price had seemed right at the time when the offer was made. 'SO MANY QUESTIONS'Top-20 investor Deka Investment said "significantly greater efforts" were now needed by Siemens Energy, chaired by Siemens veteran Joe Kaeser, to restore trust. Berenberg analysts pointed out that Siemens Energy had given a fairly upbeat view on Siemens Gamesa along with second-quarter results only a month ago, and that Thursday's announcement did not fit with the recent communication. Siemens Energy CEO Bruch also cited the need to fix Siemens Gamesa's corporate culture, hinting at the fact that the company's merger never fully worked and that major management mistakes were made. When asked earlier this month on whether Siemens Energy was doing well enough to master the challenges of the energy transition, Kaeser said the management team led by Bruch was strong.

Persons: Felix Schroeder, Schroeder, Christian Bruch, Siemens Gamesa, Jochen Eickholt, Spain's, Joe Kaeser, Bruch, Kaeser, Christoph Steitz, Christina Amann, Susan Fenton, Louise Heavens Organizations: Siemens Energy, Siemens, Siemens Gamesa, Union Investment, Deka Investment, Deutsche Bank, Thomson Locations: FRANKFURT, BERLIN, Bray, European

The company has provided more than 132 gigawatts (GW) of wind turbines as of the end of April this year to all global regions: 108 GW of onshore wind and 22 GW of offshore wind. The discovery of faulty components at Siemens Gamesa's onshore wind turbines had already caused a charge of nearly half a billion euros in January. Siemens Gamesa has provided wind turbines to some of the biggest power companies and oil and gas majors worldwide. Shares in European wind turbine producers Nordex (NDXG.DE) and Vestas (VWS.CO) also fell as confidence in the industry was shaken. Many wind power developers have already seen delays in projects due to the availability of components and rising costs.

Persons: Siemens Gamesa, Spain's, Denmark's, Nina Chestney, Christoph Steitz, Susan Fenton Organizations: Siemens Energy, Siemens, SIEMENS, WHO, Scottish Power Renewables, East Anglia, Poland's PGE, Siemens AG, Thomson Locations: Spain, Europe, Americas, Britain, North, Baltica, Baltic

☆ Siemens Energy wind farm issues could have implications across whole sector: Analyst
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSiemens Energy wind farm issues could have implications across whole sector: AnalystNicholas Green, head of European capital goods at Alliance Bernstein, discusses the impact of Siemens Energy's more-than 1 billion euro ($1.09 billion) Gamesa wind-farm component issues.

Persons: Nicholas Green, Alliance Bernstein Organizations: Siemens Energy, Alliance, Siemens

☆ Biden is lending billions to Ford to help America win the EV race with China
▼ + stars: | 2023-06-23 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

The US is lending Ford $9.2 billion to build battery plants in Tennessee and Kentucky. It's also three times the loan extended to General Motors for battery plants last year. The US government is lending $9.2 billion to Ford for three battery plants in a sign of the Biden administration's desire for America to become a leading EV player. The loan is more than three times the amount handed out last year to General Motors to build three battery factories. The loan is the latest step by the White House to on-shore production of crucial EV components amid rising geopolitical tensions, particularly with China.

Persons: It's, Biden, Obama, EVs, Ford's, Darren Palmer Organizations: Ford, Loan, General Motors, Energy's, SK, The Energy Department, Tesla, EV, White, P, EVs, Ford's EV Locations: Tennessee, Kentucky, America, Korean, China, Chinese

☆ Siemens Energy scraps profit outlook as wind turbine troubles deepen
▼ + stars: | 2023-06-22 | by ( Christoph Steitz | ) www.reuters.com time to read: +2 min

Issues at the company's Siemens Gamesa unit have been a drag on the parent, and the announcement marks the latest blow to Siemens Energy's efforts to get these under control following a full takeover of the business. Frankfurt-listed Siemens Energy shares were down 12.8% at 1849 GMT after the announcement, which follows the initial discovery of faulty components at Siemens Gamesa in January that caused a charge of nearly half a billion euros. Siemens Energy said that an extended technical review of Siemens Gamesa's installed turbine fleet and product designs was launched following that is says was a substantial increase in failure rates of components. "We are also reviewing assumptions critical to the existing business plans given productivity improvements are not materializing to the extent previously expected," Siemens Energy said. Problems at Siemens Gamesa had already caused Siemens Energy to tone down its profit outlook last month, expecting its profit margin before special items at the lower end of its 1%-3% target range for the fiscal 2023 year.

Persons: Siemens Gamesa, Christoph Steitz, Anirudh, David Gregorio, Conor Humphries Organizations: Siemens Energy, Siemens, Siemens Gamesa, Thomson Locations: Frankfurt, FRANKFURT, Bengaluru

☆ Options Action: Energy is S&P 500's worst performing sector
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOptions Action: Energy is S&P 500's worst performing sectorMike Khouw, Optimize Advisors president, joins 'Fast Money' and the Options Action traders to discuss Energy's poor showing today.

Persons: Mike Khouw Organizations: Options

DOHA, June 20 (Reuters) - Qatar is set to secure its second large gas supply deal with a Chinese state-controlled company in less than a year, sources familiar with the deal told Reuters on Tuesday. CNPC also will take an equity stake in the eastern expansion of Qatar's North Field liquefied natural gas (LNG) project, the sources said. In an identical deal, QatarEnergy sealed a 27-year supply agreement with China's Sinopec in November for 4 million tons a year. The state-owned Chinese gas giant also took an equity stake equivalent to 5% of one LNG train of 8 million tons a year capacity. Tuesday's deal, first reported by the Financial Times, will be QatarEnergy's third deal to supply LNG from the expansion to an Asian buyer.

Persons: CNPC, QatarEnergy, China's Sinopec, Saad, QatarEnergy didn't, Andrew Mills, Maha El, Kanjyik Ghosh, Kim Coghill, Christopher Cushing Organizations: DOHA, Reuters, China National Petroleum Corporation, Financial Times, LNG, Thomson Locations: Qatar, China, Arab, Asia, Ukraine, Europe, finalising, QatarEnergy, United States, Australia, Doha, Maha, Maha El Dahan, Dubai, Bengaluru

Companies NK Rosneft' PAO FollowJune 19 (Reuters) - Oil prices fell on Monday as questions over China's economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. "(China's) economy is navigating through powerful headwinds," said PVM oil analyst Tamas Varga. In recent weeks global road traffic has been declining, said Jorge Leon, Rystad Energy's senior vice president, which may also point to slowing growth and drag on oil prices. Iran's crude exports and oil output have hit record highs in 2023 despite U.S. sanctions, according to consultants, shipping data and a source close to the matter, adding to global supply when other producers are limiting output. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia this month agreed on a new oil output deal and the group's biggest producer, Saudi Arabia, also pledged to make a deep cut to its output in July.

Persons: Brent, Tamas Varga, Jorge Leon, Rystad Energy's, Leon, Nia Williams, Ahmad Ghaddar, Katya Golubkova, Emily Chow, David Goodman, Kirsten Donovan Organizations: NK Rosneft, West Texas, of, Petroleum, Thomson Locations: United States, U.S, China, Europe, Russia, Saudi Arabia, British Columbia, London, Tokyo, Singapore

☆ Cramer's Lightning Round: Dominion Energy is "a little too risky"
▼ + stars: | 2023-06-16 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Dominion Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon UiPath's year-to-date stock performance. Stock Chart Icon Stock chart icon Rayonier's year-to-date stock performance. Stock Chart Icon Stock chart icon Radnet's year-to-date stock performance. Stock Chart Icon Stock chart icon Pioneer Natural Resources' year-to-date stock performance.

Persons: I've, it's Organizations: Dominion, Dominion Energy, American Electric, Resources, Natural, CNBC

☆ Cramer's Lightning Round: Microsoft is a winner
▼ + stars: | 2023-06-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Earthstone Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Verra Mobility's year-to-date stock performance. Stock Chart Icon Stock chart icon Microsoft's year-to-date stock performance. Stock Chart Icon Stock chart icon Carvana's year-to-date stock performance. Stock Chart Icon Stock chart icon Petróleo Brasileiro's year-to-date stock performance.

Persons: Jim Cramer's, Earthstone, Verra, It's, there's, Petróleo Organizations: Earthstone, Verra, Microsoft, Petróleo Locations: Brazil

☆ Cramer's Lightning Round: GE Healthcare is a buy
▼ + stars: | 2023-06-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon GE Healthcare's year-to-date stock performance. Stock Chart Icon Stock chart icon NGL Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Fuelcell Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Pampa Energia SA's year-to-date stock performance. Stock Chart Icon Stock chart icon Annaly Capital's year-to-date stock performance.

Persons: we've, NGL, Fuelcell, it's, Argentina's, Brazil's, Enphase, Annaly, Jim Cramer's Organizations: GE, GE Healthcare, CNBC, NGL, Fuelcell, Pampa Energia, Pampa Energia SA, Enphase, Annaly Locations: Pampa, it's

☆ Cramer's Lightning Round: Teradyne is a buy
▼ + stars: | 2023-06-12 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Teradyne's year-to-date stock performance. Teradyne : "[buy, buy, buy!]. I know that management from way, way back, I think that thing is terrific." Stock Chart Icon Stock chart icon Duke Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Amkor's year-to-date stock performance.

Persons: Duke Energy's Organizations: Duke Energy

Solar investment could reach a turning point in 2023, and some stocks are well-positioned to benefit from the boom. In the U.S., the Inflation Reduction Act is expected to lead to $600 billion in new investment in solar technology, according to the Solar Energy Industries Association. More than 62% of analysts are bullish on the home solar energy company. ReNew Energy's average price target suggests shares rallying 47% in the coming months. The residential solar energy provider could see shares surge almost 90%, according to its average price target.

Persons: Michael Grubb, Grubb, Morgan Stanley Organizations: International Energy Agency, University College London, Bank, Development, Solar Energy Industries Association, CNBC Pro, Nasdaq, York Stock Exchange, Energy, Energy Global, Sunnova Energy Locations: U.S, India

☆ A Sam Altman-backed startup is betting it can crack the code on fusion energy. Here's how it's trying to bring that to the masses by 2028.
▼ + stars: | 2023-06-03 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +5 min

The race is on for clean energy company Helion Energy to build a fusion power plant capable of producing enough electricity for tech behemoth Microsoft in five years. Electromagnetic coils that will be used in Helion's seventh fusion energy prototype, Polaris. "But we've never been able to harness it on Earth in a way that we can produce electricity from it." A graphic explaining how Helion's fusion energy technology works. That means if something happens to the machine producing fusion energy, it will shut down immediately.

Persons: Sam Altman, Altman, Scott Krisiloff, Helion, Krisiloff, Helion Krisiloff, we've, Helion's, Energy Krisiloff, It's Organizations: Helion Energy, Microsoft, Energy, behemoth Microsoft, Polaris, International Atomic Energy Agency, Fusion Locations: Helion

May 26 (Reuters) - The U.S. Department of Justice is investigating a California unit of oil refiner PBF Energy Inc over a November emissions release, the company said. "We are cooperating with all relevant agencies, including with respect to any ongoing investigations related to the incident," said a PBF Energy spokesperson on Friday, declining further comment on pending legal matters. The Department of Justice, which oversees the FBI, did not reply to a Reuters request for comment. The Contra Costa District Attorney is pursuing legal action against the refinery for failing to notify the county when the release happened, county health officials have said. The oil refiner "thoroughly investigated the incident to identify appropriate corrective actions and we are committed to implementing them," the PBF Energy spokesperson added.

☆ Wall Street analysts say these stocks have more room to run through the rest of 2023
▼ + stars: | 2023-05-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

CNBC Pro combed through top Wall Street research to find stocks to buy for the rest of 2023. Fastly "Fastly is laying the foundation for long-term success," according to Bank of America analyst Tal Liani. "We view this as a positive inflection point which should remove the negative narrative of AWS' Gen-AI market position vs. peers," Lee said. ConocoPhillips - Goldman Sachs, buy rating "Stay Buy with Conoco our top pick among the Big 3 US majors for 2H2023. … We view this as a positive inflection point which should remove the negative narrative of AWS' Gen-AI market position vs.

☆ A portfolio manager who runs 3 of the 10 best large-cap funds in the past year shares his surprisingly simple investing strategy — and the 4 places he's putting his money now
▼ + stars: | 2023-05-24 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Leading fund manager Matt Fruhan found success this year by continuing to prioritize valuations. Two of those standout funds, the Fidelity Mega Cap Stock Fund (FGRTX) and the Fidelity Advisor Mega Cap Stock Fund (FGTAX), are virtually identical, except for their class and ticker. The fund manager told Insider that he applies the same investing process and principles across all of his funds. "Some investors are kind of reactive to the market and let the market tell them what to think," Fruhan said. And that's how you get separation from the stock market over time."

☆ A Bill Gates-based photovoltaic technology that may be solar energy's future
▼ + stars: | 2023-05-20 | by ( Tim Hornyak | ) www.cnbc.com time to read: +5 min

Solar panels accounted for nearly 5% of U.S. energy production last year, up almost 11-fold from 10 years ago and enough to power about 25 million households. Backers of perovskite-based solar cells say they can outperform silicon in at least two ways and accelerate efforts in the race to fight climate change. Perovskite cells are very thin — less than 1 micrometer — and can be painted or sprayed on surfaces, making them relatively cheap to produce. Backing next-generation climate technologyCompanies around the world are starting to commercialize perovskite panels. CubicPV, based in Massachusetts and Texas, has been developing tandem modules since 2019, and its backers include Bill Gates' Breakthrough Energy Ventures.

☆ JPMorgan says there's a big buying opportunity in this clean energy stock, sees more than 45% upside
▼ + stars: | 2023-05-19 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bloom Energy 's recent retreat has created a buying opportunity, JPMorgan said. Analyst Mark Strouse upgraded the electricity and hydrogen producer's stock to overweight from neutral. Still, Strouse's new target implies the stock could rally 46.5% from where it closed Thursday's session. BE YTD mountain Bloom Energy He did note that the company gave lackluster EBITDA margins when reporting first-quarter earnings. Taken together, Strouse said the improving gross margins and balance sheet will allow growth-focused investments to continue being made.

☆ Cramer's Lightning Round: Keep an eye on Palantir
▼ + stars: | 2023-05-19 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Zim Integrated Shipping's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon Nextera Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon HF Sinclair Corporation's year-to-date stock performance. Stock Chart Icon Stock chart icon Veeva Systems' year-to-date stock performance.

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