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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • NEW YORK, March 29- Last fall, when the price of oil started dropping, fund manager Craig Hodges figured crude would rebound in 2015 and began buying shares of companies he thought would be unfairly hit, including construction company Primoris Services Corp and Eagle Materials Inc, which produces sand used in fracked wells. While his fund is top-loaded with...

  • The fall was slight, but it was just the second year-over-year decline since April 2010, when an oil production boom was just beginning to transform Midland. Midland has a population of around 140,000, and an economic decline there alone should not seriously dent the state economy. At the heart of the Permian Basin, one of the biggest oil deposits in the country,...

  • OSLO/ WASHINGTON, March 29- The United States will submit plans for slowing global warming to the United Nations early this week but most governments will miss an informal March 31 deadline, complicating work on a global climate deal due in December. The U.S. submission, on Monday or Tuesday according to a White House official, adds to national strategies beyond...

  • BEIJING, March 29- Denmark has applied to join the Beijing-led Asian Infrastructure Bank, China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings of the United States. The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the...

  • *President wants rich to keep money in Russia. The former Mrs Russia and Mrs Globe beauty pageant winner is among Russia's super rich but even she and many of her wealthy friends are feeling the pinch from the economic crisis. But the enforced modesty has not yet driven the super wealthy out of Russia or against President Vladimir Putin, who has fanned patriotism...

  • March non-farm payrolls seen up 244,000. BRUSSELS, March 29- The state of the U.S. labor market in March will consume economists and investors in the week leading up to Easter, adding to the seesaw debate over when the Federal Reserve will spring its first interest rate hike. Fed Chair Janet Yellen made it clear on Friday that the U.S. central bank is likely to start...

  • BEIJING, March 29- Denmark has applied to join the Beijing-led Asian Infrastructure Bank, China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings in the United States. The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the...

  • BEIJING, March 29- The chairman of China National Chemical Corp said on Sunday he hopes to re-list Italy's Pirelli on the Italian stock exchange after his firm agreed earlier this month to acquire the world's fifth-largest tyre maker. Ren Jianxin also warned that a counterbid for Pirelli would hurt the Italian firm's investors and long-term strategy.

  • PBoC Governor calls for vigilance on deflation Sunday, 29 Mar 2015 | 1:05 AM ET

    China's central bank governor Zhou Xiaochuan warned on Sunday that the country needs to be vigilant for signs of deflation.

  • BOAO, China, March 29- China's central bank governor Zhou Xiaochuan warned on Sunday that the country needs to be vigilant for signs of deflation and said policymakers were watching slowing global economic growth and declining commodity prices. "Inflation in China is also declining. Last week, Zhou said China could undermine structural reforms if it adopts an...

  • China c.bank governor calls for vigilance on deflation Saturday, 28 Mar 2015 | 11:40 PM ET

    BOAO, China, March 29- China's central bank governor Zhou Xiaochuan warned on Sunday that the country needs to be vigilant for signs of deflation and said policymakers were watching the downward trend of the global economy and declining commodity prices. Zhou was speaking at a high-level forum in Boao, on the southern Chinese island of Hainan.

  • More countries to join China-led investment bank Saturday, 28 Mar 2015 | 11:26 PM ET

    Russia, Australia and the Netherlands became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank.

  • Greek PM Tsipras: I seek no rift with Europe Saturday, 28 Mar 2015 | 11:13 PM ET
    Greek Prime Minister Alexis Tsipras, right, and Finance Minister Yanis Varoufakis are shown at the Greek parliament in Athens.

    Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds.

  • NEW YORK, March 28- Bondholders of Puerto Rico's struggling power authority PREPA have offered it $2 billion in new capital- $1.2 billion of which would fund a new natural gas operation- in exchange for assurances it would repay its debt, two people close to the matter told Reuters on Saturday. The Ad Hoc group of creditors, which includes OppenheimerFunds,...

  • ATHENS, March 28- Greek Prime Minister Alexis Tsipras said on Saturday that he sought no rift with Europe after his cash-strapped country submitted a list of reforms to its lenders in a bid to secure much-needed funds. After answering a question regarding government attempts to deal with corruption, Tsipras was asked whether he wanted a rift or a solution with...

  • MILAN, March 28- Switzerland's Dufry has agreed to buy a majority stake in World Duty Free in deal which values the Italian firm at 3.6 billion euros and will makes it by far the world's biggest travel retailer. Edizione, the holding company owned by the Benetton family and controlling World Duty Free, said on Saturday it was selling its 50.1 percent stake in the...

  • ROME, March 28- Italy will probably nudge its forecast for economic growth this year up to 0.7 percent from 0.6 percent when it issues new economic and public finance projections next month, a senior minister said on Saturday. Maria Elena Boschi, minister for constitutional reforms, said at a Milan conference organized by retail lobby Confcommercio that the...

  • CHICAGO, March 28- Best Buy Co Inc plans to close some stores and consolidate its operations in Canada, the U.S. electronics retailer's second-largest market, in a move that will hurt earnings this year, the company said on Saturday. The move to a single brand will cut 500 full-time and 1,000 part-time jobs, and cost the company about US $200 million to US $280 million...

  • *Mourning ceremony on April 17 in Cologne Cathedral. BERLIN, March 28- The co-pilot suspected of deliberately crashing an airliner, killing 150 people, had told his girlfriend he was planning a spectacular gesture so "everyone will know my name," a German daily said on Saturday. The Bild newspaper published an interview with a woman who said she had had a...

  • ATHENS, March 28- Greece's Energy Minister Panagiotis Lafazanis will meet his Russian counterpart and the CEO of energy giant Gazprom in Moscow on Monday, as he hit out at the EU and Germany for tightening a' noose' around the Greek economy. Outspoken Lafazanis, on the left wing of Greece's co-ruling Syriza party, will meet Russian Energy Minister Alexander Novak...