CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • ALMATY, Feb 5- Tajikistan, hit hard by spillover from Russia's economic woes, is in talks with the International Monetary Fund on financial aid, Tajik state news agency Khovar reported on Friday citing government and Fund officials. The IMF resident representative office in Tajikistan had no immediate comment. According to IMF data, Tajikistan most recently...

  • BRUSSELS, Feb 5- ArcelorMittal, the world's largest steelmaker, launched plans on Friday for a $3 billion share issue to help reduce debt and cut costs, having been hit by a plunge in steel prices which it blamed on a surge in cheap exports from China. The company, twice the size of its nearest rival, reported that its core profit dropped by 32 percent last year to $5.2...

  • *Coming up: U.S. non-farm payrolls at 1330 GMT. LONDON, Feb 5- Gold hit a three-month high on Friday, on track for its strongest weekly gain in a month after growing doubts about whether the Federal Reserve can keep raising interest rates put pressure on the dollar. Spot gold was up 0.3 percent at $1,158.3 an ounce by 1055 GMT, after touching $1,158.80, its highest since...

  • LONDON, Feb 5- Ukraine's restructured Eurobonds extended losses on Friday as fears grew over the fate of the ruling coalition and its IMF bailout, though a reduction in U.S. rate rise bets continued to support other emerging assets. MSCI's emerging equity index rose 0.4 percent after shares in Hong Kong and Mumbai rose around half a percent.

  • *Jan exports seen at -1.9 pct y/y vs Dec's -1.4 pct. BEIJING, Feb 5- China's January exports may have fallen for a seventh month with factories still battling falling prices, but an expected jump in bank lending may underscore the government's bid to put a floor under the slowing economy. That may produce a trade surplus of $58.85 billion for January, compared with a...

  • By Makiko Yamazaki and J.R. Wu. OSAKA, Japan/ TAIPEI, Feb 5- Taiwan's Foxconn is aiming to finalise a deal to acquire Sharp Corp by the end of the month, after the two firms reached a consensus on most points at a meeting on Friday, Foxconn Chief Executive Officer Terry Gou said. The Apple Inc supplier has offered to invest around 659 billion yen in Sharp, sources familiar...

  • BRUSSELS, Feb 5- The European Union's top trade official has urged China to take measures to curb overcapacity of its steel industry and warned it that it will open three new anti-dumping investigations this month on steel imports from China. The call comes as the European Union begins a debate into whether to relax trade defences against China as Beijing...

  • LONDON, Feb 5- The wait for U.S. monthly jobs numbers steadied stock markets on Friday and allowed the dollar to recover after its worst week in more than six years. London and Paris both gained; Frankfurt fell around half a percent.,. "There is a general skepticism towards a proper rate hike cycle by the Fed- that's been driving down the dollar there's probably not that...

  • LONDON/ SINGAPORE, Feb 5- Crude oil futures steadied on Friday after earlier losses, as bearish fundamentals weighed on markets at the end of a volatile week that saw prices seesaw over 10 percent within a day. International benchmark Brent crude futures were trading at $34.37 per barrel at 0917 GMT, down 9 cents from their last settlement after dipping below $34...

  • MILAN, Feb 5- European shares were little changed in choppy trade on Friday with investors reluctant to take up big positions before a key U.S. jobs report that could provide clues on the Federal Reserve's monetary policy outlook. "With the focus on the jobs report in the U.S., we don't expect a very dynamic market today in Europe," Johannes Mayr, head of economic...

  • ATHENS/ SHANGHAI, Feb 5- China's COSCO is expected to make an offer for Greece's rail network after becoming the sole bidder for the country's largest port, two people familiar with the matter said, as the state owned shipping giant forges ahead with a plan to build a European transhipment hub. Bolstered by December's merger with China Shipping Group, COSCO's...

  • LONDON, Feb 5- The flow of investor funds out of world stocks extended to its longest run in four years last week, but is still short of levels typically associated with previous recessions or bear markets, Bank of America Merrill Lynch said on Friday. That's similar to the $36 billion outflow around the market sell-off in August last year, but still well short of the...

  • OSAKA, Japan, Feb 5- Foxconn should be able to reach a deal to acquire Sharp Corp over the next two to three weeks, after the two firms reached a consensus on most points at a meeting on Friday, Chief Executive Officer Terry Gou said. Foxconn, known formally as Hon Hai Precision Industry Co, has officially been given preferred negotiating rights, he told reporters.

  • *Improved efficiency in China to boost Asia earnings. TOKYO, Feb 5- Toyota Motor Corp raised its full-year net profit forecast on Friday due to improvements in its Chinese operations, while the Japanese automaker also lifted its sales forecast for the North American market, where demand has been booming. The world's biggest-selling automaker said it expected...

  • BRUSSELS, Feb 5- ArcelorMittal, the world's largest steelmaker, launched plans on Friday to raise $3 billion from a share issue to reduce debt, as it continues to suffer from the Chinese industry's overcapacity which it says has driven down world prices. Chief Executive Lakshmi Mittal said that 2015 had been a very difficult year for the steel and mining...

  • *On track for worst week since May 2009. LONDON, Feb 5- The dollar inched up from a 2-1/ 2- month low on Friday but was on track for its heaviest weekly loss since 2009, as investors awaited U.S. employment data for justification of the view that the Federal Reserve will not raise rates in 2016.. Commerzbank currency strategist Thulan Nguyen, in Frankfurt, said a weak...

  • TOKYO, Feb 5- Plunging commodity prices are expected to drive losses of around $13 billion on assets held by Japanese trading houses, oil refineries and steelmakers in the current financial year, dealing another blow to a government push to reignite growth. The expected total losses of about 1.54 trillion yen break down to roughly 760 billion yen for oil...

  • MELBOURNE, Feb 5- London copper fell on Friday, but was set for a third consecutive week of gains as signs of stabilisation in the market and a weaker dollar convinced traders to close short positions ahead of Lunar New Year holidays next week in China. "In the past few days, dollar weakness has certainly supported the copper price," said analyst Helen Lau at Argonaut...

  • TAIPEI, Feb 5- Taiwan's banks are facing losses of millions or possibly billions of dollars from customer defaults on a popular derivative product- falling victim to the unexpected slide in China's currency. The island's financial regulator is scrambling to get a grip on the issue after China surprised global markets in August by devaluing the yuan.

  • BEIJING, Feb 5- China sets a $5,000 purchase limit for a single purchase of overseas insurance products for mainland bank card holders, the country's foreign exchange regulator said on Friday. The remarks from the State Administration of Foreign Exchange came after Reuters reported that China was cracking down on a popular method of moving money out of the...