CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • Europe's largest software maker said it expected 2017 revenue in the range of 23.0 billion to 23.5 billion euros, at or above the average analyst expectation of 23.01 billion, according to Thomson Reuters I/B/E/S data. SAP said it is now targeting a non-IFRS operating profit in the range of 6.7 billion to 7.0 billion euros. On the same basis, a year ago, SAP had...

  • TAIPEI, Jan 22- Taiwan's moves to shore up stock markets after the election of an independence-leaning president might have spared it short-term chaos, but easing more entrenched concerns about the island's economy and renewed tensions with China will be a tougher task. In the week leading up to the Jan. 16 election of the Democratic Progressive Party's Tsai...

  • *Mercuria, Vitol ship crude to China for independent refiner. BEIJING/ SINGAPORE, Jan 22- A Chinese industry body said it could review rules covering the import of crude by new entrants after a private refinery failed to secure financing for 1.5 million barrels of crude it bought, in a blow to Beijing's moves to open up its oil market. The oil arrived at China's east...

  • *Scepticism on Abenomics at highest level ever. TOKYO, Jan 22- Renewed turmoil in global markets is beginning to erode investor confidence in Japanese Prime Minister Shinzo Abe's pledge to revitalise the economy through his massive' Abenomics' stimulus programme. Those doubts have heightened in the past few weeks as the freefall in oil prices and concerns...

  • Europe's largest software maker said that it expected 2017 revenue in the range of 23.0- 23.5 billion euros, at or above the average analyst expectation of 23.01 billion euros, according to Thomson Reuters I/B/E/S data. SAP said it is now targeting a non-IFRS operating profit in the range of 6.7- 7.0 billion euros. On the same basis, a year ago, SAP had forecast total...

  • Jan 22- Long before a natural gas storage well sprung a disastrous leak near Los Angeles, California, utilities and national industry groups were raising alarms about the danger of aging underground storage infrastructure. Jurisdiction over facilities storing gas to be transported across state lines falls to the U.S. Pipeline and Hazardous Materials...

  • Jan 22- World oil markets quietly breached an important barrier as they crashed nearly 30 percent to below $30 a barrel in the opening weeks of 2016, crossing the fuzzy line separating a rational response to fundamentals from an irrational fear where the only way forward is down, down, down. That marks a change from most of the past 18 months, when oil's long descent...

  • NEW YORK, Jan 22- Investors who hoped U.S. corporate earnings could dig stocks out of their deep hole may find themselves sorely disappointed. The outlook for corporate profits continues to deteriorate, and earnings growth is now unlikely to revive before the summer. Thanks to rapidly dimming forecasts for energy, materials, finance and technology sectors,...

  • *Venture has already invested in one deal- source. BEIJING/ SHANGHAI, Jan 22- KKR& Co said it had partnered with one of China's biggest state-owned bad debt managers to take advantage of opportunities in the country's growing market for distressed debt, particularly in the property sector. The venture will provide flexible capital solutions, particularly in the...

  • *China indexes typically volatile, turn higher in afternoon. SHANGHAI, Jan 22- China's fragile shares rose modestly on Friday, showing only a muted response to hints of more policy stimulus in Europe and Japan, which prompted a rally in battered oil prices and global equities. Investors appear increasingly reluctant to risk their money on China's fickle markets,...

  • *U.S. East Coast, continental Europe gripped by icy weather. U.S. crude was up 85 cents at $30.38 per barrel at 0532 GMT, almost $4 away from a 12- year low of $26.19 and headed for a more than 3 percent weekly rise. Oil prices drew support from freezing weather conditions and snowstorms that have gripped the U.S. East Coast and parts of continental Europe, lifting demand...

  • SYDNEY, Jan 22- Australian markets operator ASX Ltd on Friday said it has bought a minority stake in a U.S. blockchain developer, positioning itself to become the first stock exchange in the world to use distributed ledger technology for public companies. The A $14.9 million investment in Digital Asset Holdings would help to cut costs, speed up transactions and...

  • BRIEF- CHINA RAILWAY SAYS ITS CONSORTIUM WITH AVIC. INTERNATIONAL SIGNS $1.5 BLN DEAL IN EGYPT@ bln deal in Egypt@. *says its consortium with AVIC International signs $1.5 billion deal in Egypt on January 21, 2016.

  • *CSRC Vice Chairman says China doesn't seek to devalue the yuan. SHANGHAI, Jan 22- China stocks surrendered initial gains and ended Friday lower, threatening to hit fresh two-year lows amid extremely weak investor sentiment. Yu Jun, partner at hedge fund manager He Ju Investment, said that the market is in a "risk-off" mode, amid fears of economic slowdown, further...

  • *India poised to become world's third-biggest car market. FARIDABAD, India, Jan 22- In a dingy factory in the sprawling industrial hub of Manesar in northern India, a plastic moulding machine malfunctioned, mangling Visheshwar Prasad Singh's right hand as he made parts for a supplier to the country's major automakers. Singh was one of thousands of poor labourers,...

  • Cabraser would also lead the Plaintiffs' Steering Committee to hear cases pertaining to Volkswagen's usage of software to evade emissions limits, the U.S. District Court for the Northern District Of California said. Earlier in December, Volkswagen and the U.S. Department of Justice had both urged the U.S. Judicial Panel on multi-district litigation to send...

  • Yuan barely budges as c.bank holds steady this week

    SHANGHAI, Jan 22- China's yuan barely moved against the dollar on Friday and was set to end this week flattish, with dealers slightly reducing bearish positions against the yuan and the central bank keeping daily guidance rates in a tight range. The People's Bank of China set the midpoint rate at 6.5572 per dollar prior to market open, only 0.02 percent firmer than...

  • SHANGHAI, Jan 22- Chinese shares' early gains quickly evaporated by midday on Friday, as investors were unimpressed by hints of more policy stimulus in Europe and Japan, which prompted a rally in battered oil prices and global equities. The CSI300 index of the largest listed companies in Shanghai and Shenzhen was also down 0.3 percent. Investors appear...

  • *Soy up on adverse Brazil weather, lower Argentine output. SINGAPORE, Jan 22- U.S. soybeans rose for a second session on Friday, with the market on track to eke out gains for a third straight week on concerns over adverse weather in Brazil and estimates of lower production in Argentina. Corn edged higher, with the market up a for second week in a row, underpinned by lower...

  • TOKYO, Jan 22- The damage done by plunging oil prices and global markets to the Bank of Japan's hopes of achieving 2 percent inflation could prompt policymakers to consider easing monetary policy further next week, sources familiar with its thinking say. With the outcome of the two-day policy review hanging in the balance, how financial markets behave in coming...