Associated Press: Suntech, one of the world's biggest solar panel manufacturers, has defaulted on a $541m (358m) bond payment in the latest sign of the financial squeeze on the struggling global solar industry.
Suntech Power Holdings' announcement was a severe setback for a company lauded by China's Communist government as a leader of efforts to make the country a centre of the renewable energy industry. Its founder, Shi Zhengrong, became one of the industry's most prominent entrepreneurs and a billionaire, only...