CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • *The slide prompted a near- $20 billion injection by the People's Bank of China to stabilize markets. *Dupont's shares were down 1.5 percent at $62.10 in premarket trading after Citigroup cut its rating on the Dow component to "neutral." *Microsoft was down 0.8 percent at $54.38 as a Chinese regulator sought explanations from the software maker on findings from an...

  • SINGAPORE/ HONG KONG, Jan 5- Barclays will announce investment banking job cuts across Asia next week, including closures in South Korea and Taiwan, sources with direct knowledge of the matter told Reuters. In common with other European lenders, Barclays is facing up to a harsh environment for investment banks in Asia after the region's economies and markets...

  • LONDON, Jan 5- Investors once again flocked to the safety of the yen on Tuesday as a modest pick-up in risk appetite gave way to jitters over Chinese market turbulence and stalling growth and the breakdown in relations between Saudi Arabia and Iran. The Japanese currency, traditionally sought at times of risk aversion, had come off the previous day's highs after...

  • LONDON, Jan 5- World stocks fell again on Tuesday after their worst first-day performance in years, extending losses as relief at intervention by China to steady its markets quickly evaporated in the face of mounting concerns about the global economy. Sanjiv Shah, chief investment officer at Sun Global Investments, said Beijing's latest attempts to steady its...

  • LONDON, Jan 5- HSBC said on Tuesday that customers affected by a blackout on its personal banking online services in Britain will not "lose out", as technical problems suffered by Europe's biggest bank ran into a second day. State-backed Royal Bank of Scotland promised to invest hundreds of millions of pounds in its computer systems after a series of high-profile...

  • Jan 5- Drugmaker Eli Lilly and Co revised its 2015 earnings estimate lower and forecast 2016 earnings of $2.92- $3.02 per share. The company said it now expected 2015 earnings of $2.28- $2.33 per share, down from its previous estimate of $2.40- $2.45. The revision in 2015 outlook is due to after-tax charges associated with an acquisition.

  • Jan 5- Several major Yahoo Inc. The shareholders said they would prefer that than wait for Yahoo to go through with its plan to seek a tax-free spin-off of the operation, which includes Yahoo's sports and news sites as well as its popular email service. The IRS helped to kill off a previous Yahoo plan to spinoff its stake in Chinese ecommerce giant Alibaba Group...

  • Jan 5- Texas tycoon Sam Wyly is set to face off against the Internal Revenue Service at trial on Wednesday over more than $2 billion the agency says he owes for using offshore trusts to engage in one of the largest tax frauds in U.S. history. In April, the IRS filed claims asking the Wylys for a total of $3.22 billion in back taxes, penalties and interest, $2.03 billion of...

  • *Orange and Bouygues Telecom confirm talks. The negotiations accompany a softened line on sector consolidation from the government, which holds 25 percent of Orange, after it opposed a 10 billion euro bid last year for Bouygues Telecom by tycoon Patrick Drahi's Numericable-SFR. Former state monopoly Orange held three-way talks with Iliad and Bouygues about...

  • MILAN/ LONDON, Jan 5- European shares edged lower on Tuesday, giving up earlier gains as uncertainty over China continued to weigh on sentiment, while gains among telecoms and miners provided some support. European equities tried to bounce back in early deals following a stabilisation in China, a day after poor Chinese factory data triggered a global sell-off.

  • CLECKHEATON, England, Jan 5- Eric Simpson, the owner of a furniture recycling firm in northern England, once believed in the European Union. Now he's unsure how to vote in a referendum on Britain's future in the bloc, reflecting growing doubts among the business community. But sitting in the showroom of his Over2Hills business in the Yorkshire town of Cleckheaton,...

  • *VW could face fines in theory reaching $90 billion. WASHINGTON/ FRANKFURT, Jan 5- The U.S. Justice Department has sued Volkswagen for up to $90 billion for allegedly violating environmental laws- five times regulators' initial estimate and a reminder of the carmaker's problems nearly four months after its emissions scandal broke. VW could face fines of as much as...

  • SINGAPORE/ HONG KONG, Jan 5- Barclays Plc will announce job cuts in its investment banking businesses across Asia, including closing the businesses in Korea and Taiwan, people with direct knowledge of the matter told Reuters, in the latest cuts for the London- based lender in the region. If any firm decisions are made, we will provide an update, "a Hong Kong- based...

  • LONDON, Jan 5- Global investment banking fees fell 8 percent in 2015 compared to a year earlier, with a boom in mergers and acquisition activity failing to offset a slump in equity and debt capital markets fees, Thomson Reuters data published on Tuesday showed. Regionally, fees in Europe declined 16 percent compared with a year ago, Asia Pacific fees fell 12 percent...

  • *Gold jumped as much as 2.2 pct on Monday. *China stock indexes close mixed, European shares up. LONDON, Jan 5- Gold rose on Tuesday as a wave of risk aversion due to growth worries in China and rising tensions in the Middle East triggered demand for the metal.

  • *China injects $20 billion after stocks sell-off. LONDON, Jan 5- Copper rose off two-week lows on Tuesday as China pumped in an estimated $20 billion to stabilize its equity and currency markets, though worries over slowing demand in the world's top metals user kept gains firmly in check. China stocks closed mixed thanks to the huge cash injection, but the yuan fell...

  • BRUSSELS/ FRANKFURT, Jan 5- Euro zone core inflation slowed for the second month in a row in December, a big headache for the European Central Bank, which has printed hundreds of billions of euros to kick-start price growth with little to show for it. Meanwhile core inflation, closely watched by policy hawks like Germany's Bundesbank, eased to 0.8 percent from 0.9...

  • *Shares in M&S, Debenhams also lower. LONDON, Jan 5- British clothing retailer Next reported disappointing sales in the run-up to Christmas, with the normally reliable company blaming unusually warm weather for a slowdown that is expected to have hit the wider sector. Next has been the strongest player in Britain's clothing sector for a decade and its shares fell...

  • *Middle East tensions rise as Kuwait recalls Iran ambassador. LONDON, Jan 5- Oil prices fell on Tuesday on concerns about the pace of economic growth in China and a stronger U.S. dollar, handing back some of the gains triggered by an escalation of tensions in the Middle East. "It is the Chinese stock market sell-off and the strong dollar that are pressuring oil," said...

  • SHANGHAI, Jan 5- China's industry and commerce regulator has asked Microsoft Corp to explain "major issues" that it says have come to light from digital data obtained as part of an anti-trust investigation. The SAIC move, coming more than a year after the investigations were first launched, could signal new uncertainties for Microsoft in China as it attempts to...