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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • SEOUL, April 30- U.S. crude futures held around $58.50 a barrel on Thursday, near their highest this year as U.S. crude stockpiles grew less than expected after the first decline since November in stocks at the main U.S. delivery hub. *Brent crude futures, the more widely-used benchmark, shed 39 cents to $65.45, after finishing up $1.20 at $65.84 in a session that saw...

  • LIMA, April 29- Peruvian precious metals miner Buenaventura reported first-quarter net income of $17.3 million on Wednesday, well above its $16.1 million loss in the same period a year ago. The result was below the $37 million estimate of one analyst who recorded the forecast with Thomson Reuters I/B/E/S. Gold output from Yanacocha rose 20 percent in the first...

  • BRASILIA, April 29- Brazil again steeply raised interest rates on Wednesday to convince investors that the government is serious about reining in runaway prices, despite fears that aggressive tightening will make an expected recession worse. Brazil's benchmark interest rate now stands well above those of other major emerging market countries such as...

  • Japan March factory output down 0.3 pct mth/mth - govt Wednesday, 29 Apr 2015 | 7:54 PM ET

    TOKYO, April 30- Japanese industrial output fell 0.3 percent in March, declining for a second straight month, government data showed on Thursday. The fall was smaller than a median market forecast for a 2.3 percent drop. Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output to rise 2.1 percent in April and decline 0.3 percent in May,...

  • NEW YORK, April 29- Twitter Inc's efforts to reassure disaffected ad buyers may hinge on the success of two deals that were announced along with its bleak forecast on Tuesday, advertisers and analysts said. As a result, Twitter cut ad rates, impacting quarterly revenue by $4 million to $5 million, Costolo said. The San Francisco- based company also missed Wall Street...

  • FOREX-Euro shoves dollar aside as bund yields jump Wednesday, 29 Apr 2015 | 7:38 PM ET

    SYDNEY, April 30- The euro was broadly higher on Thursday as German yields soared on easing deflation fears, while doubts about the strength of the U.S. recovery took a temporary toll on the dollar. The euro came within a whisker of $1.1200, pulling well away from this month's low of $1.0521. It also powered towards 133.00 yen, reaching highs last seen on March 5.

  • WASHINGTON, April 29- President Barack Obama could prevail in his drive for legislation to boost a major Pacific trade deal if enough members of a group of moderate Democrats, as expected, lend their support, said lawmakers and trade specialists on Wednesday. Obama faces a tough fight in Congress over "fast-track" trade negotiating authority.

  • April 29- Oklahoma oil billionaire Harold Hamm on Wednesday moved to drop his appeal of a $1 billion divorce award to his ex-wife, a day after the court dismissed her bid to re-open the case, according to a court filing. Hamm's decision to withdraw his counter-appeal of a bitterly fought divorce after a lower court awarded his ex-wife Sue Ann Arnall around $1...

  • BRASILIA, April 29- Brazil opted for another steep interest rate hike on Wednesday to convince investors that the government is serious about reining in runaway prices despite fears of a recession. Brazil's benchmark interest rate now stands well above those of other major emerging market countries such as India and Turkey, both with rates at 7.5 percent.

  • SAO PAULO, April 29- Brazil's central bank raised interest rates to 13.25 percent from 12.75 percent as expected on Wednesday, maintaining its aggressive monetary tightening campaign to rein in inflation and win back the trust of investors. JANKIEL SANTOS, CHIEF ECONOMIST, BESI. DAVID BEKER, ECONOMIST, BANK OF AMERICA MERRILL LYNCH.

  • HOUSTON, April 29- BP Plc and the United Steelworkers union chapter representing striking workers at the company's Whiting, Indiana, refinery reached a tentative agreement on Wednesday to end an 11- week work stoppage. The two sides have to negotiate an agreement on returning the striking workers to the Chicago- area plant, but a ratification vote is expected...

  • April 29- Tencent Holdings Ltd, the dominant social networking and online entertainment company in China, has agreed to buy 14.6 percent of mobile game developer Glu Mobile Inc for $126 million to expand in the U.S. gaming market. Shares of Glu Mobile, which developed Deer Hunter and Kim Kardashian: Hollywood games, rose about 24 percent in extended trading on...

  • April 29- Apple Inc limited availability of the Apple Watch after a key component supplied by a Chinese company was found to be defective, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Some taptic engines supplied by Shenzhen, China- based AAC Technologies Holdings Inc started to break down over time, the Journal said,...

  • ATHENS, April 30- Ratings agency Moody's on Thursday cut Greece's credit rating deeper into junk territory due to uncertainty over whether the indebted country will be able to reach a deal with its international lenders in time to meet upcoming debt repayments. Moody's said it downgraded Greece's government bond rating to' Caa2' from' Caa1' and assigned it a "...

  • April 29- Apple Inc has found defects with a key component of its Apple Watch, prompting it to limit availability of the product, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Some taptic engines supplied by Shenzhen, China- based AAC Technologies Holdings Inc started to break down over time, the Journal said, citing the...

  • April 29- Noble Corp Plc reported a better-than-expected quarterly profit as higher margins from contract drilling services helped offset losses from retirement of rigs due to a slump in oil prices. The company, however, said it expected its capital spending to fall to about $585 million in 2015 from $1.9 billion in 2014.. Net income attributable to Noble fell...

  • Holcim shareholder Eurocement backs Holcim-Lafarge merger Wednesday, 29 Apr 2015 | 6:09 PM ET

    April 29- Eurocement Holding AG, Holcim Ltd's second-largest shareholder, said it supports the Swiss cement maker's planned merger with France's Lafarge SA. Eurocement, which has a 10.8 percent stake in Holcim, said it intends to keep actively participating in the work of the merged company. The backing from Eurocement is a boost to Zurich- based Holcim as it...

  • SAN FRANCISCO, April 29- Microsoft Corp is targeting $20 billion in annual revenue from its cloud-computing businesses by the end of fiscal 2018, Chief Executive Satya Nadella said on Wednesday, signaling a tripling of such revenue in three years. Microsoft said last week that its total commercial cloud revenue, which includes online versions of its Office...

  • WILLISTON, N.D., April 29- North Dakota, the second-largest U.S. oil producer, has approved a sweeping reorganization of its oil tax code by cutting the overall rate while also ending a more than $5 billion tax break poised to hit in June. Governor Jack Dalrymple signed House Bill 1476 late on Wednesday afternoon, his staff told Reuters, lowering the combined rate...

  • China rivals vie for state backing to buy HP unit Wednesday, 29 Apr 2015 | 6:00 PM ET

    BEIJING, April 30- The bidding for a controlling stake in Hewlett-Packard Co's data-networking business in China, worth more than $2 billion, has thrown up a rare tussle between two Chinese state-backed firms who are wrangling over which has Beijing's backing. On Feb. 15, China's National Development and Reform Commission approved Shanghai- based Huaxin to bid...