CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • American Apparel files for bankruptcy Monday, 5 Oct 2015 | 12:48 AM ET

    Oct 5- Troubled teen apparel retailer American Apparel Inc filed for bankruptcy protection on Monday and said it had reached a restructuring support agreement with 95 percent of its secured lenders. "This restructuring will enable American Apparel to become a stronger, more vibrant company," Chief Executive Paula Schneider said in a statement.

  • Brent rose 30 cents to $48.43 a barrel by 0420 GMT after it finished up 44 cents on Friday, while U.S. crude rose 32 cents to $45.86 a barrel after settling up 80 cents, buoyed by news that Russia was ready to meet OPEC, non- OPEC producers for consultations. But the country is now prepared to meet with OPEC and non- OPEC oil producers to discuss global oil markets if such a...

  • *Concerns over dry weather in Australia, Russia. SINGAPORE, Oct 5- U.S. wheat futures gained more ground on Monday, rising for three out of four sessions and trading near a seven-week high as concerns over dry weather in parts of Australia and the Black Sea region underpinned the market. "Adverse weather in Australia and Russia is supportive for the wheat market, but...

  • *Potash Corp had offered 41 euros per share in cash. The acquisition would have given Potash Corp an opportunity to realize savings from selling potash within North America from its own Western Canada mines jointly with potash from K+ S's Legacy mine, which is under construction in the region. Since Potash Corp made its offer to K+ S privately at the end of May, shares...

  • HONG KONG, Oct 5- Hong Kong shares rose nearly 2 percent early Monday, led by financials and Macau gambling stocks, lifted by a wave of short covering and hopes for China policy moves, though gains may be limited around a key level. One broker credited better-than-expected tourist arrivals n Macau during China's Golden Week holidays. Shares of Galaxy...

  • MELBOURNE, Oct 5- Australia said on Monday it would buy 1,100 light armoured vehicles from French defence and electronics firm Thales SA for A $1.3 billion. Thales Australia won a competitive international tender with its locally designed and built Hawkei patrol vehicle, Prime Minister Malcolm Turnbull said in a statement, a boon for the struggling...

  • *Aug real wages +0.2 pct yr/yr, up two straight months. TOKYO, Oct 5- Japanese wage growth slowed in August and summer bonuses fell from last year, a discouraging sign for private consumption that should keep policymakers under pressure to offer more stimulus as fears of a recession grow. Wages are not strong enough to drive consumption though, "said Makoto Watanabe,...

  • Saudi Aramco, the kingdom's state-owned oil company, cut its official selling price for its main Arab Light grade to Asia to a discount of $1.60 a barrel to the regional benchmark Oman/ Dubai price for November from a premium of 10 cents for October cargoes. In the past 12 months, heavy buying on three occasions by Chinaoil, the trading arm of PetroChina, has pushed...

  • *No announcement of a deal before Monday in Atlanta. ATLANTA, Oct 4- A dozen Pacific nations closed in on a sweeping free-trade pact on Sunday in Atlanta but failed to finalize terms on the fifth day of round-the-clock talks, dashing hopes raised by an earlier breakthrough on protections for new biotech drugs. That pushed a resolution of the Trans Pacific...

  • Oct 5- Japanese stocks rose on Monday, buoyed by signs of progress in Trans-Pacific Partnership negotiations, a trade agreement which could give a major boost to Prime Minister Shinzo Abe's struggling economic policy. "It could prove to be beneficial for the Japanese economy if the free trade zone proceeds as advertised," said Martin King, co-managing director...

  • Potash Corp withdraws offer for K+S Sunday, 4 Oct 2015 | 10:40 PM ET

    Oct 4- Potash Corp of Saskatchewan said it has withdrawn its offer for German potash producer K+ S, citing a decline in global commodity and equity markets and a lack of engagement by K+ S management. "In light of these market conditions and a lack of engagement by K+ S management, we have concluded that continued pursuit of a combination is no longer in the best...

  • TOKYO, Oct 5- Japanese Government bond yields fell to multi-month lows on Monday on growing expectations the Bank of Japan may unveil fresh stimulus as soon as this month, as well as soft U.S. jobs data. The yield on the current 30- year JGBs fell 2.0 basis points to 1.340 percent, its lowest level since late April, breaking below strong yield support around 1.35...

  • *World Bank trims 2015 China growth forecast to 6.9 pct. SINGAPORE, Oct 5- The World Bank cut its 2015 and 2016 growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by the risk of a sharp slowdown in China and possible spillovers from expected increases in U.S. interest rates. "The baseline scenario for regional growth is subject to a...

  • SINGAPORE, Oct 5- The World Bank cut its 2015 and 2016 growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by the risk of a sharp slowdown in China and possible spillovers from expected rises in U.S. interest rates. Latest GDP growth projections, percent:. East Asia and 6.1 5.7 5.8.

  • WORLD BANK CUTS 2015 CHINA GROWTH FORECAST TO 6.9 PCT FROM 7.1 PCT PREVIOUSLY, 2016 FORECAST TO 6.7 PCT FROM 7.0 PCT.

  • WORLD BANK SAYS OUTLOOK SUBJECT TO "GREATER-THAN-USUAL DEGREE OF UNCERTAINTY", ESPECIALLY CHINA SLOWDOWN, US RATES; RISKS WEIGHTED TO THE DOWNSIDE.

  • WORLD BANK CUTS 2015 DEVELOPING EAST ASIA PACIFIC GROWTH FORECAST TO 6.5 PCT FROM 6.7 PCT PREVIOUSLY, 2016 FORECAST TO 6.4 PCT FROM 6.7 PCT.

  • SEOUL, Oct 5- Crude prices edged up on Monday after Russia said it was prepared to meet other producers to discuss the situation in the global oil market, while a report showed a fifth weekly decline in the U.S. oil rig count. Brent climbed 17 cents to $48.30 a barrel by 0136 GMT after it finished up 44 cents, or nearly 1 percent, on Friday. Russia's energy minister said on...

  • SINGAPORE, Oct 5- U.S. wheat futures edged higher on Monday, rising for three out of four sessions as concerns over dry weather in parts of Australia and the Black Sea region underpinned the market. Soybeans slid for a third consecutive session with ample global supplies and the harvest of a near record U.S. crop adding pressure on prices. *Russia is expected to...

  • Greece to unveil painful 2016 draft budget Sunday, 4 Oct 2015 | 9:00 PM ET

    *Officials say Greece avoiding fight in quest for debt relief. ATHENS, Oct 5- Greece will unveil a painful 2016 draft budget on Monday meant to satisfy international creditors, projecting the economy will stay in recession next year before returning to growth in 2017, in line with the estimates by the country's lenders. After seven months of heated negotiations...