CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • LONDON, Jan 19- Let's face it, lead is not exactly the sexiest of metals. It's never caught the collective investment imagination in the way that copper has over the years. Indeed, the only interaction that most of us have with the stuff is in the form of an automotive battery and even then only when the battery fails.

  • Jan 19- Potash Corp of Saskatchewan said it would "indefinitely" suspend potash mining at Picadilly, New Brunswick in Canada in response to weakening demand for the crop nutrient. Potash Corp, which had more than 5,000 employees worldwide at the end of 2014, said the suspension would lead to 420-430 job cuts in New Brunswick. The company said it would retain 35...

  • BofA, the No. 2 U.S. bank by assets, said its net income attributable to common shareholders rose to $3.01 billion, or 28 cents per share, in the three months ended Dec. 31, from $2.74 billion, or 25 cents per share, a year earlier. BofA, whose shares were up 1.6 percent in premarket trading, has been hit by high legal costs since the financial crisis, undermining many of the...

  • *Liquidity traditionally is tight before Lunar New Year. BEIJING, Jan 19- China's central bank said on Tuesday that it will inject more than 600 billion yuan to help ease a liquidity squeeze expected before the Lunar New Year in early February. The central bank pledged to keep liquidity in the banking system "reasonable and adequate" and keep market interest rates...

  • BRASILIA/ SAO PAULO, Jan 19- Brazil's central bank chief, Alexandre Tombini, said on Tuesday policymakers will take into consideration a "significant" cut in the country's growth outlook when deciding on interest rates on Wednesday. The unusual statement from Tombini commenting on the International Monetary Fund's decision to lower Brazil's growth outlook...

  • The Atlanta- based airline earned $980 million in the fourth quarter. On an adjusted basis, it grew profit by 43 percent to $926 million, or $1.18 per diluted share. Analysts on average estimated Delta would earn about $928 million, or $1.19 per diluted share, according to Thomson Reuters I/B/E/S.

  • Jan 19- Upscale jeweler Tiffany& Co's holiday season sales fell 6 percent, hurt mainly by a stronger dollar and a drop in spending by tourists in the United States. Comparable sales in the Americas fell 8 percent on a constant currency basis in the holiday shopping period ending Dec. 31, hit by lower foreign tourist spending in New York, where the company's flagship...

  • *Iran ordered oil production ramp-up on Monday. Brent crude futures, the global benchmark, posted their strongest daily gains in four months, trading up $1.55, or 5.4 percent, at $30.10 a barrel by 1149 GMT. "It seems to be a healthy upside correction in an otherwise downtrending market," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.

  • BofA, the No. 2 U.S. bank by assets, said its net income attributable to common shareholders rose to $3.01 billion, or 28 cents per share, in the three months ended Dec. 31, from $2.74 billion, or 25 cents per share, a year earlier. Non-interest expenses fell 2.3 percent to $13.87 billion. Analysts on average had expected earnings of 26 cents per share, according to Thomson...

  • BEIJING, Jan 19- China's central bank injected 410 billion yuan into the nation's banking system via its medium-term lending facility and lowered rates for three-month and one-year tenors, it said on Tuesday. The People's Bank of China cut the three-month MLF rate to 2.75 percent, and lowered the one-year MLF rate to 3.25 percent, it said in a statement on its...

  • BOSTON, Jan 19- A slew of major U.S. corporations are likely to announce in the next few weeks whether they will take big writedowns for their troubled Venezuela operations, and some may say they are leaving the country altogether. They may have more reason to accelerate the process after the socialist government on Friday declared a 60- day economic emergency,...

  • In connection with its plans, J&J said it expected to record pre-tax restructuring charges of $2 billion to $2.4 billion, of which about $600 million will be recorded in the fourth quarter of 2015..

  • *China 2015 GDP meets expectations at 6.9 pct. LONDON, Jan 19- Copper climbed on Tuesday to the highest level in over a week after data on Chinese economic growth soothed worries about a potential hard landing in the world's biggest metals consumer. "There were some very low GDP forecasts out there, some in the low 6 s, so if you've gone short on that basis then clearly...

  • Jan 19- Upscale jeweler Tiffany& Co's holiday season sales fell 6 percent to $961 million, mainly hurt by a drop in tourist spending in the Americas. The company said it expected sales to drop by 10 percent in the year ending Jan. 31. It had earlier forecast a drop of 5-10 percent.

  • SHANGHAI, Jan 19- Citic Securities, one of China's largest brokerages, has elected as its new chairman a senior executive of its ultimate parent Citic Group, the company said on Tuesday. Zhang Youjun, 50, currently assistant to the general manager at Citic Group, will replace current chairman of the brokerage Wang Dongming, the company said in a statement to the...

  • LONDON, Jan 19- Global financial markets seem to be overreacting to falling oil prices and the risk of a sharp downturn in China's economy, the chief economist of the International Monetary Fund said on Tuesday. Speaking after the IMF cut its global growth forecasts for the third time in less than a year, Maurice Obstfeld also said it was critical that China is...

  • BAKU, Jan 19- Azerbaijan imposed some limits on foreign currency outflows in a package of measures adopted by parliament on Tuesday to prop up the oil producer's depreciating manat currency. Rising prices have stirred protests rarely seen in a country where oil money and well-equipped security forces have long ensured public loyalty to President Ilham...

  • Revenue from the company's Optum business, which also offers healthcare data and analytics and technology services, rose 70 percent to $21.9 billion in the fourth quarter ended Dec. 31. Net profit attributable to UnitedHealth shareholders fell to $1.22 billion, or $1.26 per share, from $1.51 billion, or $1.55 per share, a year earlier. Excluding items,...

  • PARIS, Jan 19- The deadly attacks in Paris in November has cost French hoteliers an estimated 270 million euros in lost revenue and could continue to have an impact on hotel occupancy rates, research firm MKG Group said on Tuesday. "We estimate the revenue shortfall for the French hotel industry at 270 million euros, of which 146 million was for Paris alone,"...

  • BEIJING, Jan 19- China's central bank said on Tuesday that it will inject over 600 billion yuan to help ease a liquidity squeeze expected before the Lunar New Year in early February. The People's Bank of China will inject the funds via its policy tools of the standing lending facility, medium-term lending facility and pledged supplementary lending, it said in a...