CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • SEOUL, Jan 28- Tech giant Samsung Electronics Co Ltd on Thursday warned of possible weaker earnings this year compared with 2015 due to softer sales of gadgets such as smartphones, a trend that is also hurting rival Apple Inc and major chipmakers. Samsung said its October-December operating profit was 6.1 trillion won, compared with 6.1 trillion won it guided...

  • *Asia shares fall after Wall St ends broadly weaker. SYDNEY, Jan 28- Asian share markets slipped on Thursday after a late selloff on Wall Street, as investors were concerned the U.S. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5 percent in the wake of the Wall Street drop, while Australia's main index lost 0.6 percent.

  • SEOUL, Jan 28- U.S. crude futures fell more than 1 percent in Asian trading on Thursday, paring gains of nearly 3 percent in the previous session, after Russia held out the possibility of cooperating with OPEC to control global oversupply. U.S. crude lost 33 cents at $31.97 a barrel as of 0008 GMT. Russian officials have decided they should talk to Saudi Arabia and...

  • Jan 27- French luxury goods maker Chanel said on Wednesday that Chief Executive Maureen Chiquet will leave the company by the end of January, the New York Times reported. Chairman Alain Wertheimer will take over operational responsibilities as the company seeks a new leader, the Times reported. The news of Chiquet's departure came just a day after Chanel...

  • THURSDAY, JANUARY 28 HELSINKI- OECD to publish its economic survey of recession-hit Finland in a press conference with Finnish finance minister Alexander Stubb- 0830 GMT. BRATISLAVA- National Bank of Slovakia Governor Jozef Makuch participates in economic conference "Economic development of the Slovak economy expected in 2016", with presentation: The...

  • SEOUL, Jan 28- Tech giant Samsung Electronics Co Ltd said on Thursday its October-December profit rose 16.2 percent from a year earlier, in line with its earlier estimates as earnings from its chips and mobile businesses improved. Samsung said in a regulatory filing its fourth-quarter operating profit was 6.1 trillion won, compared with 6.1 trillion won it...

  • Jan 27- Deficient practices at a lab operated by blood-testing startup Theranos pose "immediate jeopardy to patient health and safety," the U.S. government's Centers for Medicare& Medicaid Services said in a letter to the company released on Wednesday. Theranos, founded and led by Elizabeth Holmes, has been in the spotlight after reports in the Wall Street...

  • *Sees 2nd- qtr profit $0.90- $1.00/ shr vs est. Expects mobile chip shipments to fall 16-25 pct. Jan 27- Qualcomm Inc forecast current-quarter profit below analysts' expectations as demand weakens for its chips used in mobile devices in a slowing market.

  • Jan 27- Payment processor PayPal Holdings Inc on Wednesday reported better-than-expected quarterly revenue, as new customer additions and payment processing volumes surged, and it announced a buyback of $2 billion of its stock. PayPal said it expects 2016 full-year earnings of $1.09 to $1.14 per share, and revenue growth of 16-19 percent on a currency...

  • SEATTLE, Jan 27- Boeing Co braced investors on Wednesday for a rough 2016, forecasting lower-than-expected earnings and fewer plane deliveries largely because of production changes needed to boost output later in the decade, news that sent its stock down sharply. That would be the highest level ever for the single-aisle plane, as Boeing fights to slow rival...

  • Many big-money clients- representatives of wealthy families, endowments and private investment firms in New York, London and Geneva- came to the Morgan Stanley Hedge Fund Forum at the $1,000- a-night Breakers Palm Beach resort in a sour mood, hurt by their hedge fund investments last year and so far in January. The Breakers gathering, in its 18th year, once again...

  • Jan 27- The U.S. Justice Department announced the final settlement on Wednesday in a program, valued at more than $1.3 billion, that has allowed Swiss banks to avoid possible prosecution for helping wealthy Americans evade taxes. Swiss bank HSZH Verwaltungs AG will pay more than $49.8 million to avoid charges that it aided U.S. tax cheats, the Justice Department...

  • Jan 27- Deficient practices at a lab operated by blood-testing startup Theranos pose "immediate jeopardy to patient health and safety," the U.S. government's Centers for Medicare& Medicaid Services said in a letter to the company released on Wednesday. Theranos, founded and led by Elizabeth Holmes, has been in the spotlight after reports in the Wall Street...

  • SYDNEY, Jan 28- The U.S. dollar turned mixed on Thursday after the Federal Reserve offered little in the way of surprises, in contrast to New Zealand's central bank, which flung open the doors to a cut in rates and clipped the kiwi in the process. A firmer euro, which reached a one-week high of $1.0918, was the main drag on the index. It has since stepped back to 118.66 yen.

  • Jan 27- Incyte Corp said on Wednesday that it would stop a mid-stage study on its combination treatment after it failed to prove to be sufficiently effective to treat metastatic colorectal cancer. Incyte's shares fell nearly 12 percent to $65.50 in extended trading. Jakafi is an FDA- approved drug to treat people with bone marrow disorders such as polycythemia...

  • The world's biggest online social network bucked the trend of underwhelming tech results from Apple Inc and eBay Inc, in the face of economic turmoil in China and a strong U.S. dollar depressing the value of overseas sales. Facebook's service is not available in China but it sells ads there. "It's phenomenal at these levels that they're accelerating to that level...

  • QUITO, Jan 27- Venezuela's revenues slid 70 percent due to the oil price slump and its economy shrank 5 percent in 2015, President Nicolas Maduro said at a summit in Quito on Wednesday. Critics say 17 years of failed socialist policies are the root of Venezuela's problems, while the Maduro government blames an "economic war" by its foes. Speaking to a meeting of heads...

  • OTTAWA, Jan 27- Canada announced new interim rules on Wednesday for environmental reviews that will impose major delays on two projects- TransCanada Corp's Energy East pipeline and Kinder Morgan Inc's expansion of its Trans Mountain pipeline. President Barack Obama' s denial of the Keystone XL pipeline, the all-Canadian projects are needed so the country's...

  • The company forecast full-year adjusted profit of $1.82- $1.87 per share and revenue of $8.5 billion- $8.8 billion. EBay's forecast for first-quarter adjusted profit of 43- 45 cents per share and revenue of $2.05 billion- $2.10 billion also missed analysts' average estimates. Online sales in the United States jumped a better-than-expected 9 percent to $105...

  • Corn coasted for the second straight day, while soybean futures rose on dry weather concerns in South America and southern Africa. At the Chicago Board of Trade, March wheat settled 8-1/ 4 cents lower at $4.76-1/ 2 per bushel, a day after hitting $4.88-1/ 2, its highest since Dec. 21. "We are in a pattern of seeing short-covering rallies run out of steam," said Joe Davis,...