CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • CALGARY, Alberta, Jan 6- The outright price of benchmark Canadian heavy crude dropped below $20 a barrel on Wednesday, its lowest level in at least a decade, as global crude prices plunged on geopolitical concerns and rising U.S. product stocks. Western Canada Select heavy blend crude for February delivery last traded at a discount of around $14.05 per barrel to...

  • WASHINGTON, Jan 6- Federal Reserve policymakers decided to raise interest rates last month after almost all of them gained confidence inflation was poised to rise, but some voiced worries inflation could get stuck at dangerously low levels. "Nearly all participants were now reasonably confident inflation would move back to 2 percent over the medium term," the...

  • Jan 6- Video streaming company Netflix Inc on Wednesday launched its services in 130 countries, covering almost the entire globe except China, as part of efforts to counter slowing growth in the United States. India, Nigeria, Russia and Saudi Arabia were among the major countries where the service was launched, Chief Executive Reed Hastings said at the Consumer...

  • VANCOUVER, Jan 6- Canada's Imperial Metals Corp on Wednesday suspended pit operations at its Huckleberry copper mine in British Columbia, becoming the latest in the industry to curtail production after a 50 percent slump in the metal's price in the past five years. Vancouver- based Imperial has a 50 percent stake in the Huckleberry mine, with Mitsubishi...

  • NEW YORK, Jan 6- Crude oil prices were more than 5 percent lower on Wednesday after tumbling below $35 per barrel for the first time since 2004, as a sharp rise in U.S. gasoline stocks reinforced a bleak picture that the market was awash with plenty of oil. "As big as the crude oil drawdown was, the build in gasoline was even more spectacular and crushing to the market,"...

  • *China investors accept they must keep calm and carry on. *Shanghai market lost 45 pct peak-to-trough last year. *Many investors hope China will ease ban gradually.

  • Jan 6 (Reuters)- Monsanto Co said a souring farm economy and currency woes will push its 2016 earnings to the lower end of expectations, while a cost-cutting drive will lead the world's largest seed company to slash more jobs. However, Monsanto's recent attempts to re-engage Syngenta AG about a potential takeover have been difficult since the Swiss agrochemical...

  • Jan 6- JP Morgan Chase& Co's brokerage unit will pay $4 million to settle allegations it misled customers about how it paid brokers, the U.S. Securities and Exchange Commission said on Wednesday. Employees pointed out the false statements on four occasions between 2009 and 2011, but JPMorgan failed to correct the problem, the SEC said. JPMorgan first corrected...

  • *Says norovirus contamination in California being probed. Jan 6- Chipotle Mexican Grill Inc, under scrutiny for months over outbreaks of foodborne illness across several U.S. states, said on Wednesday it was served with a grand jury subpoena in a federal criminal probe linked to a norovirus case in California last year. Maxim Group analyst Stephen Anderson said...

  • CALGARY, Alberta, Jan 6- The outright price of benchmark Canadian heavy crude dropped below $20 a barrel on Wednesday, its lowest level in at least a decade, as global crude prices plunged on geopolitical concerns and rising U.S. product stocks. Western Canada Select heavy blend crude for February delivery last traded at a discount of around $14.05 per barrel to...

  • GM's move and others underscore Detroit's determination to battle Silicon Valley for dominance of clean urban transport. Ford Motor Co used this week's Consumer Electronics Show in Las Vegas to announce that Toyota Motor Corp, the No. 1 global car maker, will use Ford software to connect smart phones to dashboards and join Ford in promoting that...

  • Jan 6- Oculus, the virtual reality company owned by Facebook Inc, said the Rift, its much-awaited virtual reality headset, was priced at $599. The Rift will initially be shipped from March 28 to 20 countries, including Australia, Canada, Japan, the UK and the United States, the company said in a blog post on Wednesday. Oculus Chief Executive Brendan Iribe said in May that...

  • *HSBC, Barclays say EU has been crucial to London success. *HSBC could realign some ops to continent after a Brexit. Officials from two UK banks, HSBC and Barclays, said access to the EU's single market and its common rules was "crucial" and a key factor in London's success as Europe's biggest financial center.

  • *Corn, wheat hit contract lows; soy touches 6-1/ 2- week low. Chicago Board of Trade March soybeans rose 3 cents, or 0.4 percent, to $8.60-1/ 4 a bushel by 11:30 a.m. CST after earlier falling as low as $8.52 a bushel. Corn held above a key technical support level of $3.50 a bushel and soybeans held above support at $8.50 a bushel, Georgy said.

  • Jan 6- Blockbuster movie "Star Wars: The Force Awakens" will pass "Avatar" on Wednesday to become the top-selling film of all time in the United States and Canada, Walt Disney Co said. To beat the global record haul of $2.8 billion for "Avatar," "The Force Awakens" must play well in China, where it opens on Saturday, box office analysts have said. It reunites original cast...

  • Jan 6- Netflix Inc launched operations in India on Wednesday, with plans starting at 500 rupees per month, as the U.S.-based video streaming company pushes ahead with its global expansion plans. The company's shares were up 5.5 percent at $113.60 in early afternoon trading. The company will also offer two other plans priced at 650 rupees and 800 rupees, it...

  • Jan 6- Oculus, the virtual reality company owned by Facebook Inc, said the Rift, its much-awaited virtual reality headset, is priced at $599. Oculus expects to start shipping the headset in May, according to the company's website. The Rift will be shipped at the end of March to 20 countries initially, Facebook Chief Executive Mark Zuckerberg said in a post on the...

  • *Total payment, including accrued amounts, $965 mln. Jan 6- United Technologies Corp said on Wednesday it would take a pretax charge of about $870 million in the fourth quarter to buy out some royalty payments to Canada. Pratt& Whitney Canada makes turbofan, turboprop and turboshaft engines for business jets, other small aircraft and helicopters.