CHICAGO, Oct 12 (Reuters)A Wisconsin factory hailed by President Donald Trump as proof he was reviving U.S. manufacturing did not create enough jobs in 2019 to earn its owner Foxconn Technology Group tax credits, the state said on Monday, the second year it has missed its targets.

In a letter to the Taiwan-based company’s Vice Chairman Jay Lee, Wisconsin’s economic development agency said Foxconn was a long way away from building the large TV screens it had proposed in 2017, when it promised to eventually create 13,000 jobs in the state.

The Apple Inc AAPL.O supplier’s plans for the Mount Pleasant factory are now unclear, the letter from The Wisconsin Economic Development Corporation (WEDC) said.

The planned $10 billion, 20-million-square-foot campus was hailed by the White House as the largest investment for a brand new location by a foreign-based company in U.S. history.

But for many the factory has become a symbol of failed promises in Midwestern states like Wisconsin that were key to Trump’s 2016 election and are now closely watched swing states in the Republican’s bid to be re-elected on Nov. 3.

Wisconsin’s Democratic Governor Tony Evers, who inherited a deal from his Republican predecessor to give Foxconn $4 billion in tax breaks and other incentives when he took office in 2019, has sought to renegotiate the state’s contract with the firm.

Foxconn said in a statement it employed more than the minimum 520 full-time workers by the end of the year to get the credit.

“WEDC’s determination of ineligibility during ongoing discussion is a disappointment and a surprise that threatens good faith negotiations,” it said.

WEDC’s review found Foxconn had fewer full-time employees than the minimum, however. It also fell short of its employment goal in 2018.

“Once Foxconn is able to provide more accurate

(Bloomberg) —

China’s massive renewable energy industry has seen shares soar since President Xi Jinping announced the country aims to go carbon neutral by 2060.

That surge continued Friday as mainland-listed solar giants like Longi Green Energy Technology Co. and Tongwei Co. jumped in their first trading after a week-long holiday during which some peers in Hong Kong posted gains of more than 20%.

chart, line chart: Renewable energy stocks in Hong Kong soar on Xi's carbon-neutral goal

© Bloomberg
Renewable energy stocks in Hong Kong soar on Xi’s carbon-neutral goal

The furious rally illustrates the growth potential investors see in Beijing’s effort to go from the world’s biggest polluter to carbon neutrality. The shift could require anywhere from $5 trillion to $15 trillion in investment, much of it in wind- and solar-power generation.

Read more about Asian renewable stocks’ great performance this year.

The premium that mainland stocks, known as A-shares, normally have over Hong Kong counterparts has narrowed during the trading holiday, said Dennis Ip, an analyst with Daiwa Capital Markets. “So it’s very likely that A-shares of solar companies are going to have very good performances” on Friday.

China is home to the most solar panels and wind turbines in the world, and is also the leading manufacturer of both. Its companies are technology leaders in photovoltaic panels, which are seen as the leading source of future power, according to BloombergNEF.

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Government officials are already considering proposals to accelerate adoption of clean energy, which would boost installations of solar and wind, in its next five-year plan, which begins in 2021.


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Friday’s mainland gains include:

Longi, which makes wafers, cells and panels and is the world’s largest solar company by market

The shadow chancellor, Anneliese Dodds, is calling for the government to introduce a long-promised register of foreign owners of UK properties, to prevent criminals using homes as “dodgy bank accounts”.

a smiling man in a blue shirt: Photograph: Alicia Canter/The Guardian

© Provided by The Guardian
Photograph: Alicia Canter/The Guardian

Reports of suspected money laundering have more than doubled since David Cameron used a speech in Singapore in 2015 to pledge that there would be “no place for dirty money in Britain”.

The then prime minister promised a register of overseas companies owning UK properties, to make the market more transparent and prevent money from corruption being parked in lavish houses in central London.

Related: If you think the UK isn’t corrupt, you haven’t looked hard enough | George Monbiot

But the proposal is still awaiting implementation. A draft registration of overseas entities bill was published in 2018, but has not yet been introduced to parliament.

Dodds will use a speech to the Labour Housing Group on Saturday to highlight the party’s determination over the issue, and insist efforts to target money laundering should not be set aside because of the pandemic.

Anneliese Dodds wearing a blue shirt: In a speech to the Labour Housing Group, Dodds will insist efforts to target money laundering should not be set aside because of the pandemic.

© Photograph: Alicia Canter/The Guardian
In a speech to the Labour Housing Group, Dodds will insist efforts to target money laundering should not be set aside because of the pandemic.

“We are at a fork in the road,” she is to say. “The Conservatives could choose to focus their energies so that people in this country have affordable, decent homes to live in. They could finally set up a register of overseas entities to flush out the criminals using our homes as dodgy bank accounts. In doing so, they could secure a quicker, fairer and more sustainable economic recovery from the crisis.

“Or they could choose to leave things as they are. Too few houses available to be homes-