CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • LONDON, Dec 14- Central bankers across emerging markets are taking action to stem falls in their currencies as rising concerns over the health of the global economy, a weaker yuan and a tumble in commodity prices ramp up the pressure. KAZAKHSTAN- Sold about $3.9 billion from the rainy-day National Fund in October. China's foreign exchange reserves fell by $87.2...

  • ROME, Dec 14- Turkey's foreign minister said Ankara's patience with Russia "has a limit" after Moscow's "exaggerated" reaction to a weekend naval incident between the two countries, an Italian newspaper reported on Monday. "Russia and Turkey certainly have to re-establish the relations of trust that we have always had, but our patience has a limit," Cavusoglu said.

  • LONDON, Dec 14- Royal Dutch Shell cleared the final regulatory hurdle for its takeover of BG Group after receiving the green light from China on Monday, leaving the deal on track for completion by early 2016 following shareholder votes. The combination will transform Shell into the world's top liquefied natural gas trader and a major offshore oil producer...

  • MILAN, Dec 14- European shares opened higher on Monday as a sell-off triggered by China concerns and tumbling oil prices ran out of steam, with wind turbine makers Vestas Wind and Nordex among the leading gainers following a landmark climate deal. Vestas Wind rose 2.5 percent, making it the second biggest gainer on the FTSEurofirst index. Among other possible...

  • The Hang Seng index fell 0.7 percent, to 21,309.85, the lowest close since Sept 30. But shares related to Fosun Group slumped, even though Fosun Chairman Guo Guangchang made his first public appearance on Monday since reports he had gone missing last week. Fosun International and Shanghai Fosun Pharmaceutical Co slumped 9.5 percent and 12 percent, respectively.

  • LONDON, Dec 14- AstraZeneca said on Monday it was in talks with privately held cancer drug developer Acerta Pharma, after the Wall Street Journal reported on Friday it was looking to acquire the business for more than $5 billion. "AstraZeneca confirms that it is exploring potential strategic options with Acerta Pharma BV. There can be no certainty that any...

  • LONDON, Dec 14- Commodities trading firm Trafigura reported on Monday an increase in annual net profit as it racked up record oil trading volumes, as well as an increase in metals. "Trafigura is well positioned to cope with distressed markets and to seize new opportunities, thanks to our focus on both oil and metals and minerals trading, our sound finances, strong...

  • AMSTERDAM, Dec 14- Dutch engineering firm Arcadis said on Monday it was providing information to Brazilian police in support of an investigation into suspected misuse of funds at a major water management project in Northern Brazil. Arcadis did not specify whether it may also be targeted in the probe into the São Francisco project. The company said in a...

  • *Aluminum premiums hold steady in Asia. MELBOURNE, Dec 14- London copper edged down on Monday as the dollar firmed ahead of this week's key interest rate decision by the U.S. Given the high concentration of short holders in metals markets, prices were susceptible to a covering-fueled rally as traders cut risk ahead of the Fed rate decision this week, said analyst...

  • LONDON, Dec 14- Commodities trading firm Trafigura reported on Monday an increase in annual net profits as it traded more oil and metals. The firm said net profit stood at $1.103 billion, up 6.5 percent from the year before, while gross profit was $2.6 billion, an increase of 28 percent year-on-year, representing a gross margin of 2.7 percent compared with 1.6...

  • *Iran exports to reach 1.26 mln bpd in Dec- source. *Iran keen to boost exports, stoke economy. Iran is on track to ship 1.26 million barrels a day of crude this month, according to an industry source with knowledge of the OPEC member's tanker loading schedule.

  • SHANGHAI, Dec 14- Shanghai stocks jumped more than 2 percent on Monday in their best session in a month, as stronger-than-expected November factory activity lifted sentiment without dashing hopes of fresh stimulus. But stocks linked to Chinese conglomerate Fosun Group slumped, as investors had their first chance to react to news that Fosun's billionaire...

  • BEIJING, Dec 14- China has given unconditional clearance to a proposed merger between Royal Dutch Shell and BG Group, clearing the final key regulatory hurdle for the $70- billion tie-up, Shell said on Monday. "We will now seek approval from both sets of shareholders as we move towards deal completion in early 2016," Shell CEO Ben van Beurden said, according to the...

  • *Japan stocks likely to stay resilient throughout 2016. TOKYO, Dec 14- Japan's Nikkei stock index is set for modest gains next year as steady earnings growth, expectations for more monetary stimulus and the U.S. economic recovery will likely offset a slowdown in China, a Reuters poll found. Another positive catalyst for the market may come from a renewed push by...

  • TOKYO, Dec 14- Japanese government bonds were mostly higher on Monday, taking their cue from stronger U.S. Under its massive asset purchase programme, the Bank of Japan offered to buy 400 billion yen of JGBs in the 5- year to 10- year zone, 240 billion yen of JGBs in the 10- year to 25- year zone, and 140 billion yen of JGBs in the 25- year and longer zone.

  • TOKYO, Dec 14- Japan's Nikkei share average tumbled to a six-week low on Monday as global oil prices extended their decline, adding to nervousness ahead of an expected U.S. interest rate hike this week. The Nikkei ended 1.8 percent lower at 18,883.42, the lowest closing level since Nov. 2, as investors sold riskier assets. The broader Topix dropped 1.4 percent to...

  • TOKYO, Dec 14- Japan's Nikkei share average tumbled more than 3 percent to a 7-1/ 2- week low on Monday as global oil prices extended their plunge, adding to nervousness ahead of an expected U.S. interest rate hike this week. The Nikkei dropped 3.2 percent to 18,611.09 points by midmorning, the lowest since Oct. 22, as investors sold riskier assets.

  • NEW YORK, Dec 14- Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18- month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover. "Producers have survived 2015 as they benefited from large reductions in service costs while having a significant amount of production hedged at...

  • *Fosun chairman appears at company meeting in Shanghai. SHANGHAI, Dec 14- Fosun International Chairman Guo Guangchang attended a company meeting in Shanghai on Monday, two people at the event told Reuters, his first public appearance since a report he had gone missing last week sparked speculation the firm was being drawn into Beijing's corruption crackdown.

  • ALMATY, Dec 14- The weighted average of the Kazakh tenge fell to 322.47 per dollar, an all-time low, on the Kazakhstan Stock Exchange on Monday from 311.92 in the previous trading session. The move followed a fresh drop in oil prices- benchmark Brent has traded under $40 since last week- and the Russian rouble's weakening below 70 per dollar last Friday, for the first...