6/27T8:46 co. in the News

Companies in the News:

Solar-cell spot pricing surges by over 10% in a month - DigiTimes
DigiTimes reports spot pricing for solar cells has surged by over 10% in a month with a premium of almost 20% over contract quotes. The upsurge is due to a rapid order pull-in from system maker wishing to enjoy the govt incentives offered in Spain before the program expires. Spot pricing per watt recently averaged at $3.50-3.60, up from $3.00-3.20 as recorded in the first quarter, according to sources at E-ton Solar Tech and Gintech Energy. Most solar-cell makers who inked contracts with customers last year, have agreed to quotes at $2.90-3.10, meaning spot quotes carry a premium of almost 20%. The sources at E-ton explained the soaring prices to booming demand, as many customers hope to take advantage of government subsidies in Spain prior to expiration of the program in September. Some customers have even been willing to procure solar cells at spot market prices, the sources noted. Sources at Gintech Energy added in saying that some customers still failed to obtain sufficient solar cells even though they were willing to pay premium prices. The tight supply is expected to ease after September. (Related stocks: JASO, CSUN, CSIQ, STP, YGE, LDK)

Barclays warns of a financial storm as Federal Reserve's credibility crumbles - Daily Telgraph
Daily Telegraph reports Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero". "We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth." Barclays Capital said in its closely-watched Global Outlook that US headline inflation would hit 5.5% by August and the Fed will have to raise interest rates six times by the end of next year to prevent a wage-spiral. If it hesitates, the bond mkts will take matters into their own hands. "This is the first test for central banks in 30 years and they have fluffed it. They have zero credibility, and the Fed is negative if that's possible. It has lost all credibility," said Mr Bond.

Fed may give private equity more leeway to help banks - WSJ
The Wall Street Journal reports the Federal Reserve may soon make it easier for private-equity firms and others to invest in the nation's banks, according to people familiar with the matter. The changes could offer a lifeline to cash-strapped lenders desperate to secure capital. "This would be a bit of a sea change for the Fed," said Gregory Lyons, head of the financial-services practice at law firm Goodwin Procter. "A number of banks would love to access the private-equity pool. It's a clean slug of money." "We are looking at ways we can make those things more workable and gain from the experience we've had over the past few years," Federal Reserve general counsel Scott Alvarez said. Fed officials recently have met with big buyout firms -- including J.C. Flowers, Carlyle Group, Kohlberg Kravis Roberts and Warburg Pincus -- and banking lawyers to discuss the obstacles, according to people familiar with the matter. One of the banks that could benefit from looser rules is BankUnited Financial (BKUNA), currently seeking some $400 mln in capital. A number of private-equity firms approached the small lender earlier this year, but bank execs rejected their interest, says a person familiar with the situation. Some of these firms are probably still interested in the bank, and with other investors expressing reluctance about pumping more money into small and regional lenders, the Florida bank may welcome that interest.