CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • *Goaland Energy IPO more than 4,000 times oversubscribed. SHANGHAI, Jan 25- Despite China's stock market convulsions, investors flocked to the country's first initial public offering under rules implemented on Jan. 1 that allow investors to submit orders without paying upfront for new stocks at prices set to remain well below those of already listed peers.

  • HAMBURG/ SINGAPORE, Jan 25- Chicago corn and soybeans fell slightly on Monday as more favorable weather forecasts in South America and lower crude oil prices weakened sentiment. Chicago Board of Trade March corn was down 0.07 percent at $3.70 a bushel at 1032 GMT, not far from last week's one-month high of $3.72. "But there is concern about cold winter weather in the...

  • *China to fully expand VAT tax reform in 2016- premier. Says the move will lead to large-scale tax cuts for firms. BEIJING, Jan 25- China will expand tax reforms to replace a business tax with a value-added tax this year, state radio quoted Premier Li Keqiang as saying, in the latest step to bolster slowing growth.

  • LONDON, Jan 25- Iraq may further raise oil output this year, reaching levels as high as 4 million barrels per day from the country's south, a senior Iraqi oil official, who asked not to be named, said on Monday.

  • LONDON, Jan 25- European stock markets fell slightly on Monday, with shares in major oil and gas companies losing ground as an oil price rally fizzled out. The euro zone's blue-chip Euro STOXX 50 index and Germany's DAX were both little changed, with the DAX more than 20 percent below a record high reached last April. World stock markets have fallen since the start of...

  • LONDON, Jan 25- Copper edged higher on Monday, extending gains to a third session, supported by a weaker dollar and firmer equity prices in top metals consumer China, though a drop in oil prices weighed on other base metals. "Equity markets in Asia and Europe are okay, which is giving some support to metals prices," said analyst Daniel Briesemann at Commerzbank in...

  • LONDON, Jan 25- Massive blizzards that paralyzed much of the U.S. East Coast in the past few days are likely to cause "multi-billion" dollar economic losses in one of the worst storms in the region in over a century, reinsurance broker Aon Benfield said on Monday. "Given the physical damage to homes, businesses and other structures and automobiles, plus the high costs...

  • YANGON, Jan 25- Seven foreign firms are interested in bidding for Myanmar's fourth telecoms license, a government official said on Monday, as the prospects of one of the region's least connected nations outweigh the challenges of a partnership involving obscure local firms with scant industry experience. The companies' lack of experience in telecoms or IT, and...

  • Spot gold rose 0.5 percent to $1,103.35 an ounce by 1052 GMT, extending a near one percent increase made last week, when investor appetite for risk evaporated on worries China's economic growth is slowing down. Gold had scaled a two-month high of $1,112 on Jan. 8, but lacked upward momentum before steadying mostly below $1,100. "Gold's technical picture is slowly...

  • LONDON, Jan 25- Kingfisher, Europe's largest home improvement retailer, announced a plan on Monday to boost profit by 500 million pounds a year from 2021 that will cost 800 million pounds over the next five years to deliver. In a strategy update, Kingfisher, which trades as B&Q and Screwfix in Britain and Castorama and Brico Depot in France and other countries, also...

  • *Austria and Sweden say Greece could be excluded from Schengen. AMSTERDAM, Jan 25- European Union interior ministers on Monday urged Greece to do more to control the influx of migrants, some threatening to exclude it from the continent's prized passport-free travel zone as the crisis increasingly divides the bloc's members. Greece was the main gateway to...

  • HAMBURG/ SINGAPORE, Jan 25- Chicago corn and soybeans fell slightly on Monday as more favourable weather forecasts in South America and lower crude oil prices weakened sentiment. Chicago Board of Trade March corn was down 0.1 percent at $3.69-3/ 4 a bushel at 1039 GMT, not far from last week's one-month high of $3.72. "But there is concern about cold winter weather in...

  • BEIJING, Jan 25- China will expand tax reforms to replace a business tax with a value-added tax this year, state radio quoted Premier Li Keqiang as saying on Monday.

  • *Japan, Indonesia staff to leave Ford- email. *Automaker employs 292 staff in Japan, 35 in Indonesia. BEIJING/ TOKYO, Jan 25- Automaker Ford Motor Co said on Monday it will close all operations in Japan and Indonesia this year as it sees "no reasonable path to profitability" in the two countries where it has struggled to gain market share.

  • NEW DELHI, Jan 25- India signed an inter-governmental agreement on Monday to buy 36 French-built Rafale fighter planes, but the leaders of both countries said there was still work to do to finalise financial terms after months of talks. The deal, worth an estimated $9 billion, was to have been the centrepiece of a visit to India by French President Francois...

  • WASHINGTON, Jan 25- Boeing Co and air crews from the U.S. Air Force completed the first refueling flight of the KC-46A Pegasus aerial tanker on Sunday, transferring 1,600 pounds of fuel to an F-16 fighter jet flying at 20,000 feet, Boeing said. Colonel Christopher Coombs, who runs the program for the U.S. Air Force, called the flight an "important milestone" for the new...

  • MOSCOW, Jan 25- Russia's economy contracted by 3.7 percent in 2015, preliminary data showed on Monday, with a slew of activity indicators suggesting the slump is far from over. Russia is struggling to dig itself out of recession at a time when the price of oil, its main export, has seen a renewed plunge and as concerns about the global economy intensify.

  • *Oil prices hold gains from Friday until China market close. The benchmark Shanghai Composite Index closed up 0.8 percent, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen added 0.5 percent, building on gains of more than 1 percent on Friday as oil bounced off 12- year lows. China's fickle stock markets have slumped 16-17 percent so...

  • AMSTERDAM, Jan 25- Dutch engineering company Arcadis warned on Monday its 2015 operating profit would miss targets because of weaker sales in the United States and emerging markets, sending its shares down more than 15 percent. ING cut the stock from "Buy" to "Hold" in December, after Arcadis said it was cooperating with Brazilian police as part of an investigation...

  • LONDON, Jan 25- The oil sector faces great damage if current low oil prices persist, Italian oil major ENI's chief executive Claudio Descalzi told a conference in London on Monday.