CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • FRANKFURT, Sept 30- The London Metal Exchange, the world's biggest marketplace for base metals trade, expects to appoint at least five market makers to provide liquidity for its steel rebar and scrap contracts due to be launched in November. "I am confident we will have a minimum of five market makers for each of the two contracts," LME senior consultant Christian...

  • U.S. HOUSE TRANSPORTATION COMMITTEE LEADERS INTRODUCE BILL EXTENDING DEADLINE FOR PTC RAIL SAFETY TECHNOLOGY IMPLEMENTATION FOR THREE YEARS TO DEC. 31, 2018.

  • *Ralph Lauren jumps after CEO says stepping down. *Western Digital rises after Unisplendour investment. Sept 30- Wall Street was sharply higher on Wednesday, helped by gains in energy and health care stocks, but the three major indexes were set for their worst quarter since 2011..

  • LONDON, Sept 30- The price of used Volkswagen diesel cars in Britain fell after the company's admission that it used emissions-cheating software in over 11 million vehicles, a car valuation tracking guide said on Wednesday. Separately, Volkswagen UK said on Wednesday around 1.2 million vehicles in Britain, including Audi, Seat and Skoda cars, were affected by...

  • LONDON, Sept 30- Sometimes revolutions start with a bang. But more often than not they grow out of a small change that is barely noticed at the time. Position limits have long been anathema to a market that has come to epitomize Britain's light-touch oversight of wholesale markets.

  • Sept 30- U.S. automaker General Motors Co said on Wednesday it will jointly develop and assemble medium-duty commercial vehicles with truck and engine maker Navistar International Corp.. Production will begin in 2018 at Navistar's plant in Springfield, Ohio. The deal with GM will help Navistar "enhance our medium-duty product portfolio and leverage our...

  • FACTBOX-Volkswagen's bill for cheating emissions tests Wednesday, 30 Sep 2015 | 9:54 AM ET

    Sept 30- Volkswagen has admitted to cheating diesel emissions tests in the United States, sending shares in Europe's largest carmaker down more than a third in value and sparking the biggest business crisis in its 78- year history. The U.S. Environmental Protection Agency said on Sept. 18 Volkswagen faced penalties of up to $18 billion for cheating in U.S. diesel...

  • Drugmaker Baxter names Third Point's partner to board Wednesday, 30 Sep 2015 | 9:53 AM ET

    Sept 30- Drugmaker Baxter International Inc said it agreed to name Third Point LLC's Munib Islam to its board and would add another, "mutually agreed upon" independent director in the near-term.

  • DUBAI, Sept 30- Iran's cabinet has approved a draft of international oil and gas contracts meant to attract foreign investors and oil buyers once sanctions are lifted, the Oil Ministry's Shana news agency reported on Wednesday. Under a deal reached with six major powers in July, Tehran agreed to curb its nuclear program in exchange for an end to economic...

  • BRUSSELS, Sept 30- The European Union will ease capital rules it has imposed on banks and insurers since the financial crisis to help markets raise more funds for reviving sluggish economic growth. The bloc's financial services chief, Jonathan Hill, announced his "action plan" on Wednesday, made up of 33 measures and legislative initiatives that will put in place...

  • Fired RBS trader says he was 'scapegoat' for FX fine Wednesday, 30 Sep 2015 | 9:36 AM ET

    LONDON, Sept 30- A former foreign exchange trader fired by Royal Bank of Scotland said he was a scapegoat and the state-backed bank had "dishonestly contrived" his dismissal to deflect attention from its own failings. Ian Drysdale is claiming unfair dismissal in a London court after being fired in February by RBS for gross misconduct. RBS, which is 73 percent owned...

  • NEW YORK, Sept 30- The U.S. government will likely report nonfarm payrolls added 190,000 workers in September and upgrade its August jobs increase by a "sizable" amount, Moody's Analytics chief economist Mark Zandi said on Wednesday. The expected 190,000 reading from the U.S. Labor Department due on Friday at 8:30 a.m. is below the 203,000 gain forecast among...

  • "These technologies are not inexpensive," said Steve Handschuh, chief executive officer of the Motor& Equipment Manufacturers Association. The Boston Consulting Group, which conducted the survey for the association, estimated the cost of seven automated safety systems at $8,240 but said consumers were willing to pay only 25 percent to 70 percent of that.

  • LONDON, Sept 30- Hard currency debt issuance by emerging market governments and companies dropped to the lowest level in four years in the third quarter of 2015 amid low commodity prices, China woes and market volatility. Borrowers raised just over $50 billion via more than 80 dollar- and euro-denominated issues during the three months to end-September- the...

  • Sept 30- General Motors Co said it will jointly develop and assemble medium-duty commercial vehicles with truck and engine maker Navistar International Corp.. Production will begin in 2018 at Navistar's plant in Springfield, Ohio. Navistar said it would add 300 jobs and invest more than $12 million to upgrade the factory and equipment.

  • VW halts hiring at financing arm after emissions scandal Wednesday, 30 Sep 2015 | 9:20 AM ET

    FRANKFURT, Sept 30- Volkswagen on Wednesday imposed a hiring freeze at its financing arm and cut a shift at a German engine factory as it assesses the damage from being caught cheating emissions tests. The hiring freeze at VW Financial Services, which makes loans to car buyers and leases vehicles to fleet operators, will be in place for the rest of the year, a...

  • *To buy Western Digital new shares at $92.50 each. Sept 30- A unit of Tsinghua Holdings Co Ltd will buy a 15 percent stake in U.S. data storage company Western Digital Corp, the latest push by the Chinese state-backed company to access U.S. technology. A subsidiary of Unisplendour Corp Ltd, which is owned by Tsinghua, will invest $3.78 billion in Western Digital, the...

  • LONDON, Sept 30- Emerging markets suffered steep losses over the third quarter of 2015, with equities losing almost a fifth of their value in the past three months and many currencies dropping to record lows against the dollar. MSCI's broadest emerging market index hit six-year lows on August 24, spurred by the Chinese devaluation, making it the worst quarter...

  • LONDON, Sept 30- London's transport chiefs announced plans on Wednesday to tighten control on private hire vehicles, a move that could hit app-based ride-hailing firms such as Uber. A protest earlier this month at London's City Hall led to a scuffle that resulted in arrests for assault and aggravated trespass and the suspension of a meeting where Mayor Boris...