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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • *BMW's record sales driven by new ranges. FRANKFURT, March 17- For years, record sales of high-performance sports cars meant big profits at BMW that could fund incentives and investment in technology to meet the EU's fuel efficiency rules. But BMW's conundrum is shared by Mercedes and Audi.

  • March 17- Macerich Co, the third-largest U.S. shopping mall owner, rejected a $14.39 billion unsolicited offer from larger rival Simon Property Group Inc, saying the offer "substantially undervalues" the company. Macerich also adopted a poison pill, or a shareholder rights plan, with a 10 percent trigger and changed its board structure to thwart a hostile...

  • *American Airlines shares up; oil prices fall. March 17- U.S. stock index futures implied a lower open on Tuesday after a rally in the previous session and ahead of a Federal Reserve meeting that could give investors a gauge on the timing of an interest rate hike. Some investors were giving back gains in the absence of any big news while others were holding tight ahead...

  • Google app store gets more oversight Tuesday, 17 Mar 2015 | 9:00 AM ET

    SAN FRANCISCO, March 17- Google Inc is tightening supervision of its freewheeling Play store, forming a special team to screen new apps for malware and sexually explicit material, and strengthening its age-based rating system. But Google is not adopting Apple's practice of only approving apps that meet its stringent quality standards. Google, whose Android...

  • March 17- Oil and gas producer ConocoPhillips said it expects production to touch 1.7 million barrels of oil equivalent per day in 2017..

  • *World shares hit one-week high; Asia gain from dollar pause. *Bank of Japan maintains policy, economic assessment. Solid gains for Asian markets overnight failed to transfer to Europe where the recent rally in euro zone shares and bonds stalled as the euro notched its first two-day run of gains in three weeks, a disadvantage for the bloc's exporters.

  • TANNA, Vanuatu, March 17- The people of the southern Vanuatu island of Tanna are used to ferocious storms, but even here, few were prepared for the awesome force of Cyclone Pam. Four days later, the South Pacific island's airport has only just reopened, while communications and power remain down. Many buildings in the town, about 200 km south of the capital, Port Vila,...

  • March 17- Esperion Therapeutics Inc said its experimental drug showed greater reductions in cholesterol levels in patients on statins, compared with a placebo, in a mid-stage study. Many patients taking statins continue to have high LDL levels and are unable to tolerate its dosage, Chief Executive Tim Mayleben said. Esperion announced results from another...

  • LONDON, March 17- Whatever happened to zinc? The London Metal Exchange price for three-month delivery has, however, been falling steadily since the heady days of last September when it was trading above $2,400 per tonne. Of course zinc has been buffeted by the same headwinds as the other LME-traded base metals, namely dollar strength and uncertainty about the...

  • March 17- Molycorp Inc's shares fell 14 percent in premarket trading on Tuesday after the rare earths miner's auditor raised doubts about its ability to continue as a "going concern" and the company posted a loss for the twelfth quarter in a row. Molycorp said on Monday it had engaged financial and other advisers to restructure its debt, but may not have enough...

  • MOSCOW, March 17- Trading house Gunvor, which has been trying to cut exposure to the Russian market, is among the winners of a large Rosneft tender, traders said on Tuesday. They said Gunvor would lift up to 400,000 tonnes of Russian Urals crude per month from the Baltic Sea port of Primorsk in April-September after it won the tender from Rosneft for the first time in...

  • PARIS/ BEIJING, March 17- Germany, France and Italy said on Tuesday they had agreed to join a new China- led Asian investment bank after close ally Britain defied U.S. pressure to become a founder member of a venture seen in Washington as a rival to the World Bank. It comes amid prickly trade negotiations between Brussels and Washington, and at a time when EU and Asian...

  • LONDON, March 17- International investors are selling U.S. stocks as consensus builds that the Federal Reserve will start raising interest rates by mid 2015, a closely watched survey said on Tuesday. Nearly a quarter of investors believe U.S. equities are overvalued, the most since May 2000, according to the monthly Bank of America Merrill Lynch survey of 207...

  • WASHINGTON, March 17- U.S. housing starts plunged to their lowest level in a year in February likely as harsh weather kept builders at home, a temporary setback for the housing market recovery. Groundbreaking tumbled 17 percent to a seasonally adjusted annual pace of 897,000 units, the lowest level since January 2014, the Commerce Department said on Tuesday.

  • March 17- Macerich Co, the third-largest U.S. shopping mall owner, rejected a $14.39 billion offer from larger rival Simon Property Group Inc, saying the offer "substantially undervalues" the company.

  • *Sberbank, Santander, BBVA set up $100 mln fintech funds. *Banks step up investments, partnerships with tech start-ups. LONDON, March 17- Hoping to link with tech entrepreneurs and get ahead of a wave of digital innovation, Europe's top banks are setting up multi-million dollar investment funds, hiring scouts in Silicon Valley and hosting "speed dating" sessions.

  • UPDATE 1-Lafarge board to meet on Holcim deal-source Tuesday, 17 Mar 2015 | 8:14 AM ET

    PARIS, March 17- Lafarge's board was set to meet on Tuesday to consider new, less favourable terms in an effort to save its cement industry mega-merger with Holcim, a source familiar with the situation said. Switzerland- based Holcim called a halt to the deal in its current form on Monday, pressing for the price and governance to be altered from the original marriage...

  • MOSCOW, March 17- Russia's Finance Ministry said on Tuesday it would offer 15 billion roubles worth of OFZ treasury bonds at two auctions on Wednesday. The ministry said it would offer 5 billion roubles of OFZs maturing in January 2025 and 10 billion roubles of OFZs maturing in May 2020. It has seen better demand for its OFZ auctions in recent weeks after canceling...

  • March 17- Fuel cell maker Plug Power Inc reported a bigger-than-expected quarterly loss as costs and expenses more than doubled, sending its shares down nearly 11 percent in premarket trading. Plug Power, whose fuel cells offer a pollution-free alternative to power forklifts, said revenue more than doubled to $21.5 million for the fourth quarter.

  • MOSCOW, March 17- Russia's top mobile phone operator MTS said on Tuesday its net profit in the fourth quarter of last year dropped almost 92 percent to 1.6 billion roubles, partly hit by foreign exchange losses. MTS, part of the Sistema conglomerate, said it expected total 2015 revenues to rise by more than 2 percent compared to an increase of 3.1 percent last year.