FRANKFURT, Germany (AP) — Industrial equipment maker Siemens AG said quarterly net profit rose 20 percent as the company moved past one-time charges for delays delivering high-speed trains.
Net profit rose to 1.46 billion euros ($2 billion) in the fourth quarter of 2013, the company's fiscal first. That was up from 1.21 billion euros a year ago.
Last year the company had 116 million euros in charges connected to delay in production of trains for Germany's railway company, and a 150 million euro loss at its solar power business. This year's figure also had stronger gains for real estate sales.
With debts of $10 million, the Texas energy storage company Xtreme Power Inc. has filed for Chapter 11 bankruptcy protection, but it intends to keep operating as it looks for a new owner, the Austin American-Statesman reports.
Solar power industry employment in the U.S. grew by 20 percent last year to nearly 143,000 jobs, and companies expect to continue hiring this year, according to an annual industry census.
The majority of nearly 24,000 new jobs created last year, about two in three, were in the installation field, said Andrea Luecke, president of The Solar Foundation, a nonprofit industry group that has ties to the Energy Department.
DETROIT (AP) — U.S. safety regulators are investigating complaints that power-assisted brakes can fail at times in Camry gas-electric hybrids.
The probe covers about 30,000 of the midsize cars from the 2007 and 2008 model years.
The National Highway Traffic Safety Administration says it has 59 complaints about intermittent loss of power-brake assist. The agency says the problem happens without warning. It causes increased stopping distances and requires more pedal pressure to stop the car.
Electric car maker Tesla has completed its network of supercharging stations enabling its Model S cars to travel long distances without long stops to power up, according to a tweet from company CEO Elon Musk, Bloomberg reports.
A Citigroup official predicts that increasing sales of green bonds and initial public offerings from renewable firms this year will replace the loss of government subsidies and declines in bank loans in the sector, Bloomberg reports.
The Republican party is splitting over renewable energy, as conservatives like Barry Goldwater Jr. side with homeowners who install rooftop solar panels against utilities who want to levy charges on them, The New York Times reports.
Dominion Resources has filed papers with the Federal Energy Regulatory Commission, asking for a start to the review process for the proposed 550-mile natural gas Atlantic Coast Pipeline, The Associated Press reports.
Federal agencies have reduced their greenhouse gas emissions 17 percent compared to levels in 2008, according to the White House Council on Environmental Quality, but they also remain vulnerable to the effects of climate change in different ways, National Journal reports.
As part of their fight to become the top-ranking Democrat on the House Energy and Commerce Committee, Rep. Frank Pallone of New Jersey and Rep Anna Eshoo of California have raised and distributed more than $1.2 million to their colleagues during this election cycle, National Journal reports.
Scientists at the National Institute of Standards and Technology and the National Oceanic and Atmospheric Administration are working on a technique using lasers that would more accurately measure greenhouse gas concentrations, E&E reports.
News of production increases in the U.S. and among OPEC members weighed on oil prices Friday. West Texas Intermediate crude for December delivery finished the Nymex session down 58 cents to $80.54 a barrel, a drop of 12 percent over the whole of October, while in London Brent lost 38 cents to settle at $85.86, Bloomberg reports.
Increased demand is leading SolarWorld Americas to spend $10 million expanding its solar modules plant, and the company announced it will be hiring 200 additional workers as well, The New York Times reports.
To encourage the development of advanced nuclear reactors – anticipated to be more efficient – the Department of Energy is spending $13 million to help major companies including AREVA, GE Hitachi and Westinghouse in their research of the technology, The Hill reports.