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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • *Results of the Dodd-Frank Act stress tests, at 4:30 p.m. EST. *Aggregate Reserves of Depository Institutions and the Monetary Base, at 4:30 p.m. EST. *Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks, at 4:30 p.m. EST.

  • COLUMN-Watch that free money for IRA rollovers Thursday, 5 Mar 2015 | 8:00 AM ET

    CHICAGO, March 5- Back in the day, you could walk into a bank to open a new account and walk out with a free toaster. Today, you can get anywhere from $50 to $2,500 for rolling over a 401 into an Individual Retirement Account, or just by moving an IRA from another financial institution. That is worth $260 over three years if you max out your annual contributions at $5,500, or...

  • ECB holds rates, focuses on rollout of bond-buy plan Thursday, 5 Mar 2015 | 7:47 AM ET

    NICOSIA, March 5- The European Central Bank left interest rates unchanged on Thursday, holding them at record lows while it deploys a large scale money-printing plan aimed at lifting inflation out of negative territory. The decision to leave the cost of borrowing at record lows was widely expected after the ECB cut rates to rock-bottom levels last September...

  • *AbbVie to buy Pharmacyclics for about $21 bln. *Costco climbs in premarket after results. NEW YORK, March 5- U.S. stock index futures edged up on Thursday, after two days of declines on the S&P 500, ahead of data on the labor market and factory orders.

  • *Citi's sale of Akbank stake drags down banking stocks. ISTANBUL, March 5- The Turkish lira dropped to an all-time low on Thursday and bank stocks tumbled, as concern grew over President Tayyip Erdogan's battle with the central bank and the future of the government's economic team. Efforts by Turkish Prime Minister Ahmet Davutoglu and his economic team to soothe...

  • Arrowhead buys Novartis' RNAi portfolio Thursday, 5 Mar 2015 | 7:34 AM ET

    March 5- Arrowhead Research Corp said it acquired Novartis AG's RNAi assets to fortify its position in the field of gene therapy that aims to wipe out disease-causing proteins. Novartis is eligible to receive $25 million in Arrowhead shares within 30 days, which would make it the second-largest shareholder based on Arrowhead's market value on Wednesday.

  • ADVISORY-U.S. economic data on Thursday likely delayed Thursday, 5 Mar 2015 | 7:30 AM ET

    Due to the closure of U.S. federal government agencies in Washington on Thursday because of snow, weekly data on unemployment insurance claims and revised data on fourth quarter business productivity due at 8:30 a.m. will likely be delayed. A report on U.S. factory orders in January scheduled for release at 10 a.m. will also likely be delayed.

  • **Company planning to structure and potentially list its downstream business, or power plant building business, in a yield co, says Chief Executive Shawn Qu. **Canadian Solar expects to ship 4.0-4.3 gigawatt of solar modules in 2015, compared with 3.1 GW in 2014. **Net profit attributable to the company rises to $1.28/ share in Q4 from 39 cents a year earlier; revenue...

  • March 5- Mallinckrodt Plc said it would buy privately held Ikaria Inc, a maker of a respiratory drug and its delivery system, for $2.3 billion to expand its current offering of specialty products and critical care treatments. The deal is expected to add at least $150 million to Mallinckrodt's sales and 25 cents per share to its profit for the year ending September,...

  • UPDATE 1-Volatility draws billions into oil funds Thursday, 5 Mar 2015 | 7:22 AM ET

    *USO says 80-90 pct of shares held by ETF hedge funds. LONDON/ NEW YORK, March 5- Billions of dollars are pouring into oil exchange-traded funds as investors, many of them small savers more familiar with stocks than commodities, risk big losses and focus on the chance of huge rewards. "They can be quite dodgy," said a British woman who buys and sells oil derivatives from a...

  • LONDON/ GENEVA, March 5- Final stage trials of an Ebola vaccine being developed by Merck and NewLink Genetics will begin in Guinea on March 7, the World Health Organization said on Thursday. Signalling global health authorities' determination to see through trials despite a sharp drop in cases in the West Africa epidemic, the WHO said a second shot, developed by...

  • The Economic and Monetary Union of West Africa plans to issue 2,865 billion CFA francs in debt this year, down 22.4 percent from 2014 when both Ivory Coast and Senegal issued Eurobonds. UEMOA comprises Benin, Burkina Faso, Ivory Coast, Mali, Guinea-Bissau, Senegal, Niger and Togo. "What's more, the union's growth perspectives are favorable, with a medium-term growth...

  • LONDON, March 5- British fund manager Schroders Plc reported a better than expected jump in profits on Thursday, as net inflows more than tripled and assets under management rose to a record level, sending its share price to a fresh life-time high. Schroders said it took in a net 24.8 billion pounds of new investments over the year and added 12.3 billion pounds from...

  • *Libya has declared force majeure on 11 oilfields. LONDON, March 5- Brent crude future prices rose above $61 a barrel on Thursday, as investors brushed aside bearish U.S. inventories data to focus on tensions in Iraq and Libya. It seems to be that the market does seem to be paying a little bit of attention to geopolitical factors, namely Iraq and Libya, "said Virendra...

  • LONDON, March 5- The Bank of England marked the sixth anniversary of its cutting interest rates to a record low by keeping them on hold once again on Thursday, but an improving economy suggests rates are likely to rise at some point over the next 12 months. While no economist polled by Reuters expects the Monetary Policy Committee will vote to raise rates before a...

  • NEW YORK, March 5- Exchange-traded funds designed to let investors play China's bond markets, which are mostly closed to foreigners, are facing a slow start amid concerns about mainland issuers' credit quality, high property prices and the slowing economy. At more than $5 trillion, China's onshore fixed-income markets are outranked only by the U.S. and Japanese...

  • NEW YORK, March 5- St. Paul- based 3 M Co, one of the world's largest manufacturers and the maker of Post-it notes, will take new steps to ensure that its suppliers of paper, pulp and packaging provide materials that come from sustainably logged timber. The new paper-sourcing policy, aimed at preventing the destruction of forests, comes after pressure on 3 M from...

  • MOSCOW, March 5- Russia's central bank continues to see lowering inflation as its priority, but needs to take into account how its policies impact the real economy, the bank's new head of monetary policy said in an interview cleared for publication on Thursday. In his first public comments since his appointment in January, First Deputy Governor Dmitry Tulin said "...

  • LONDON, March 5- Britain is ready to force the sale of Russian oligarch Mikhail Fridman's recently acquired North Sea energy assets unless it receives unspecified assurances within the next week, Prime Minister David Cameron's spokesman said on Thursday. "If assurances are not supplied, we've set out our position and our intention to act, and the prime minister...

  • *China bonded aluminum premiums slip $5 to $360. LONDON, March 5- Base metals climbed on Thursday on hopes for more stimulus measures in China after the top consumer cut its annual economic growth target, but copper lagged the others after inventories surged again, highlighting worries about oversupply. "The reality is that China is slowing and the hope is that as...