CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • TOKYO, Oct 27- Japan should stick to its plan to raise the sales tax from 8 percent to 10 percent in April 2017 in order to deliver fiscal sustainability, a senior official at the International Monetary Fund said on Tuesday. Vitor Gaspar, the head of the IMF's fiscal department, said policymakers in Japan and other major economies need to stand ready to follow a "...

  • *Far from uniting Turkey, Ankara attack has deepened polarization. *Turkey risks sliding into ethno-sectarian strife like Syria, Iraq. The bombings, carried out by Islamic State followers from inside Turkey, targeted the pro-Kurdish coalition the Peoples' Democratic Party, left-wing activists and trade unionists as they gathered for a rally against fighting...

  • *Far from uniting Turkey, Ankara attack has deepened polarisation. *Turkey risks sliding into ethno-sectarian strife like Syria, Iraq. The bombings, carried out by Islamic State followers from inside Turkey, targeted the pro-Kurdish coalition the Peoples' Democratic Party, left-wing activists and trade unionists as they gathered for a rally against fighting...

  • *Q3 shipments up 81 pct in China, near double in Europe. HONG KONG, Oct 27- China's Huawei Technologies Co is set to be the fastest-growing major smartphone vendor this year, analysts said, boosting its drive upmarket to challenge industry giants Samsung Electronics Co and Apple Inc.. The July-September numbers puts Huawei on course to move 100 million...

  • *Camera recovery hard to predict, China stimulus could help- CFO. TOKYO, Oct 27- Japan's Canon Inc on Tuesday cut its full-year profit view citing weaker-than-expected demand for consumer cameras in China and Southeast Asia, adding weight to its near $3 billion decision this year to expand into surveillance equipment. Cameras still account for about a quarter of...

  • *UK GDP data eyed for BoE rate expectations. LONDON, Oct 27- The safe-haven yen gained on Tuesday, hitting a seven-week high against the euro, as investors turned risk-averse before the start of a two-day meeting of the U.S. The yen had fallen last week, hitting a two-month low against the dollar after the European Central Bank said it was ready to loosen policy...

  • *BASF falls after cutting earnings guidance. *Altice up as investors buy into Cablevision. LONDON, Oct 27- European stock markets fell on Tuesday, moving further away from last week's two-month high after a drop in the shares of BASF and Novartis weighed on markets.

  • LONDON, Oct 27- Surging demand for coins and bars and a rise in buying by central banks pushed physical gold demand up 7 percent in the third quarter, an industry report showed on Tuesday, though the market remained in a surplus of 51 tonnes. Demand for gold coins and bars jumped by 26 percent year-on-year in the last quarter, GFMS analysts at Thomson Reuters reported...

  • SAO PAULO, Oct 27- Brazil's steep economic recession and fallout from a massive corruption scandal at state firms probably hammered bank earnings in the third quarter as defaults and loan-loss provisions kept rising, a Reuters poll showed on Tuesday. Default ratios at Itaú Unibanco Holding SA, Banco Bradesco SA, Banco Santander Brasil SA and...

  • HELSINKI, Oct 27- Finland's UPM-Kymmene, the world's biggest producer of graphic papers such as newsprint and magazine and office paper, reported a sharp drop in quarterly profits from its core business on Tuesday. Its European and North American paper unit reported a third-quarter core operating profit of 9 million euros, down from 62 million a year earlier...

  • FRANKFURT, Oct 27- BASF, the world's largest chemicals company by sales, cut its full-year earnings guidance on weak demand and plunging local currencies in China, Brazil and other emerging markets, sending its shares down more than 4 percent. BASF, whose products include car coatings, foam chemicals, catalytic converters and mining chemicals, said on Tuesday it...

  • LONDON, Oct 27- BP announced on Tuesday a third round of spending cuts and more asset sales in the coming years to tackle an extended period of low oil prices after third-quarter profits slumped. The British oil and gas company has already sold nearly $50 billion in assets since the deadly 2010 Gulf of Mexico spill and said on Tuesday it was expecting an additional...

  • HONG KONG, Oct 27- Hong Kong's benchmark Hang Seng index ended slightly higher on Tuesday, clawing back morning losses in line with moves in mainland China markets. Financial and resource stocks led the market lower in the morning, but buyers rallied in the afternoon and the Hang Seng ended up 0.1 percent at 23,142.73 points. The China Enterprises Index also pared...

  • ZURICH, Oct 27- Novartis has agreed in principle to pay $390 million to settle U.S. allegations that it used kickbacks to speciality pharmacies to push sales of some drugs, the Swiss company said on Tuesday, hitting third-quarter earnings. The U.S. Department of Justice had sued Novartis in the Manhattan federal court, saying the world's biggest seller of...

  • European shares drop as BASF and Novartis fall Tuesday, 27 Oct 2015 | 4:17 AM ET

    LONDON, Oct 27- European stock markets fell on Tuesday, pegged back by a drop in the shares of BASF and Novartis after weak corporate updates from both companies. BASF shares dropped by 4.4 percent after the chemicals group lowered its full-year earnings guidance due to weak sales in China, Brazil and other emerging markets. Novartis fell 2.7 percent after it...

  • By Makiko Yamazaki and Taiga Uranaka. TOKYO, Oct 27- Sharp Corp's main banks are telling it to find a buyer for all or part of its ailing LCD business within months, pushing it to get more capital elsewhere as they have already footed two huge bailouts, sources familiar with the matter said. Despite a $1.7 billion rescue in May, its second major package in three years,...

  • *Blackstone assures Taiwan no China- backed funds involved-sources. *Taiwan govt would approve stake purchase- source. The U.S. firm has assured the Taiwan government it will not use Chinese-backed money to buy the stake in the Taipei Financial Center Corp, two sources said on Tuesday.

  • *Nissan seeks end to Renault control. PARIS, Oct 27- Nissan Motor has drawn up proposals to exit Renault control by purchasing a larger stake in its French parent, sources told Reuters, amid an escalating power struggle between Renault-Nissan alliance boss Carlos Ghosn and the French state, Renault's biggest shareholder. A retaliatory plan to hand more power to...

  • UPDATE 1-BP cuts capex again, raises divestment target Tuesday, 27 Oct 2015 | 3:41 AM ET

    The British oil and gas company has already sold nearly $50 billion in assets since the deadly 2010 Gulf of Mexico spill and said on Tuesday it was expecting an additional $3- 5 billion of divestments in 2016.. Benchmark Brent oil prices averaged $50 a barrel in the third quarter of 2015, down from $61.9 a barrel from the previous quarter and $101.9 a barrel a year...

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen ended up 0.1 percent at 3,592.88 points, while the Shanghai Composite Index gained 0.1 percent to 3,434.34. Among the most active stocks in Shanghai were CN SHIPBUILDING, up 8.3 percent to 12.02 yuan; MEIYAN JIXIANG, up 1.1 percent to 8.84 yuan and CN NUCLEAR POWER, down 1.0 percent to 10.54...