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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • DAKAR, March 5- Private equity will play a key role in developing Africa given the massive needs for capital on the continent, says Blackstone Group, which is focusing on infrastructure projects involving power generation and transmission. CEO Steve Schwarzman said he would continue to seek partners like Aliko Dangote-- Africa's richest man, with whom...

  • LONDON, March 5- Sterling rose to its strongest since late 2007 against the euro on Thursday, bolstered by signs that the European Central Bank might have to plough on with outright money-printing far into next year or longer to restore growth to the euro zone. In a volatile few minutes during ECB president Mario Draghi's post-meeting news conference, sterling...

  • LONDON, March 5- Euro zone financial markets rallied on Thursday after European Central Bank chief Mario Draghi pledged to buy government bonds beyond 2016 if necessary to achieve the goal of reflating the economy. He also dismissed concerns that the ECB might struggle to meet its 60 billion euro a month buy-back target if some investors are reluctant to sell...

  • French court rules UBS bullied ex-employee Thursday, 5 Mar 2015 | 12:09 PM ET

    PARIS, March 5- UBS France bullied a former worker who said she had refused to destroy documents that might have been of interest to tax evasion investigators, a Paris labour tribunal ruled on Thursday. The Swiss bank denied any bullying of the ex-employee, Stephanie Gibaud, and said the dispute between Gibaud and her boss was a simple misunderstanding.

  • NEW YORK, March 5- Bank of America Corp's proposed $8.5 billion settlement with investors in mortgage-backed securities has upheld by a New York state appeals court. In a ruling on Thursday, the Manhattan appellate court said the bond trustee, Bank of New York Mellon Corp, did not abuse its discretion in negotiating the settlement. Bank of America struck the deal...

  • WASHINGTON, March 5- A group of prominent U.S. economists, including former Federal Reserve chiefs, Alan Greenspan and Ben Bernanke, wrote to congressional leaders Thursday to support key trade legislation but warn against including currency rules in trade deals. The economists, all former chairs of the President's Council of Economic Advisers, said...

  • *Bottom pickers support prices up already on Libya, Iraq worries. *Washington presses ahead with nuclear deal for Iran. Concerns about deteriorating oil supplies from Libya and Iraq boosted crude prices even before the New York session.

  • Aviva ensures FTSE 100's move back toward record highs Thursday, 5 Mar 2015 | 12:01 PM ET

    *Aviva and Friends Life surge after strong results. LONDON, March 5- Britain's top share index approached record highs again on Thursday, lifted by a rally in insurance stocks such as Aviva after positive results in the sector. Aviva rose 7.1 percent, to be among the top gainers in the FTSE 100, after reporting higher profits.

  • WASHINGTON, March 5- The number of Americans filing new claims for unemployment aid last week rose to its highest level since May, but economists dismissed the increase as weather-related and said the jobs market remained solid. "The underlying fundamentals of the economy remain solid and there is no reason we won't continue to see the type of economic growth...

  • Europe firms may draw fire by joining buyback boom Thursday, 5 Mar 2015 | 11:56 AM ET

    *Europe unlikely to match huge U.S. buyback levels. In the United States, years of Federal Reserve stimulus aimed at reviving the real economy led to the wave of share buybacks while firms neglected capital expenditure. Few people expect European firms to match the staggering sums in the United States, where over $2 trillion of stock was bought back between 2009...

  • No safety issues associated with long-term use of ATX-101 have been identified so far, FDA reviewers said on Thursday. An independent panel of experts will meet on Monday to discuss the drug and recommend to the FDA whether it should be approved. Leerink Partners analyst Seamus Fernandez said he expects the drug to be approved by May 13, when the FDA is scheduled...

  • NEW YORK FIRE DEPARTMENT CONFIRMS AIRCRAFT SLID OFF RUNWAY AT LAGUARDIA, SAYS NO REPORTED INJURIES.

  • NEW YORK'S LAGUARDIA AIRPORT CLOSED DUE TO "AIRCRAFT INCIDENT," FAA SAYS AFTER PLANE SKIDS OFF RUNWAY.

  • *Javier Martin-Artajo attends court hearing in Madrid. MADRID, March 5- A Spanish prosecutor has recommended extradition to the United States of Javier Martin-Artajo, an ex- JPMorgan Chase& Co executive indicted over the "London Whale" scandal which led to over $6.2 billion in trading losses at the bank in 2012.. Spaniard Martin-Artajo, who was the London...

  • US STOCKS-Wall St little changed after 2-day drop, data Thursday, 5 Mar 2015 | 11:29 AM ET

    *AbbVie to buy Pharmacyclics for about $21 bln. NEW YORK, March 5- U.S. stocks were little changed on Thursday, in the wake of two days of declines on the S&P 500, as economic data did little to alter expectations on the timing of an interest rate hike by the Federal Reserve. "There is nothing really to drive sentiment one way or the other that is going to change people's...

  • *ECB won't allow Greece to issue more short-term debt. NICOSIA/ ATHENS, March 5- The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review, ECB President Mario Draghi said on Thursday. The tough line, spelled out after the ECB's policymaking...

  • ZURICH, March 5- Switzerland's government will seek to coordinate more closely with the independent Swiss National Bank after the latter's shock decision to drop its cap on the Swiss franc, according to a confidential policy resolution seen by Reuters on Thursday. A government spokesman denied on Wednesday that Bern had asked the central bank to introduce a...

  • RIO DE JANEIRO, March 5- The opening of a Brazilian congressional probe into alleged corruption at state-run oil company Petroleo Brasileiro SA erupted into a shouting match on Thursday when lawmakers rushed the dais and accused the probe's leader of seeking to manipulate the outcome. The dispute highlights the rising tension in Congress two days after a...

  • Investors may pursue U.S. lawsuit over Stanford fraud Thursday, 5 Mar 2015 | 11:23 AM ET

    *U.S. Supreme Court allowed lawsuit to go forward. District Judge David Godbey in Dallas said on Wednesday the roughly 18,000 investors could pursue claims that Chadbourne& Parke and Proskauer Rose knew Stanford was selling fraudulent high-yielding certificates of deposit through his Antigua- based Stanford International Bank, and helped him obstruct a...

  • NEW YORK, March 5- The U.S. Marshals Service on Thursday started auctioning off 50,000 bitcoins following the conviction of Ross Ulbricht for running Silk Road, the underground website where authorities said drugs and other illegal goods could be bought using the virtual currency. The Marshals Service conducted auctions in June and December for nearly...