CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • *PM Orban has lost support of media tycoon, a long-time friend. BUDAPEST, Jan 7- As Hungarian Prime Minister Viktor Orban seeks to retain power in 2018, he faces a struggle to muster the broad media support that has underpinned his rule in recent years. Relations have soured with Simicska, who publicly turned against the prime minister after the election over...

  • LONDON, Jan 7- Gold climbed above $1,100 an ounce for the first time in nine weeks on Thursday as the dollar fell and investors channelled money into safer assets as worries over the Chinese economy hit global stocks. European shares fell sharply after China accelerated the depreciation of the yuan, sending Asian shares to a three-month low.

  • SINGAPORE, Jan 7- Standard& Poor's cut its investment credit rating on Noble Group Ltd to junk on Thursday, just a week after Moody's Investors Service also cut the rating of Asia's biggest commodity trader to junk status. S&P lowered its long-term corporate credit rating on the Hong Kong- based company to' BB+' from' BBB-'. "To date, the increased collateral calls have...

  • LONDON, Jan 7- Oil slid below $33 a barrel on Thursday to levels not seen in more than a decade, as a tumble in Chinese equities rattled investors already concerned by near-record production and massive stockpiles of unwanted crude and refined products. China let the yuan slip on Thursday, sending regional currencies and stock markets globally tumbling as the...

  • *Circuit breaker halts China's markets for two days this week. SINGAPORE, Jan 7- A new circuit breaker designed to stem volatility in China's stock markets by halting trade when the market plunges, was making it worse, investors and analysts said on Thursday after the mechanism brought trade to an end for the second time this week. "The 5 percent threshold is clearly...

  • TOKYO, Jan 7- Japanese stocks have posted their worst New Year losing steak since 1995 with the benchmark Nikkei falling below levels many market players expected to be a bottom for the year. The Nikkei share average slid to a three-month low of 17,767.34 on Thursday, dragged down by a slew of bearish factors- slumping Chinese stocks and a weakening yuan, North...

  • BEIJING, Jan 7- China's foreign exchange reserves, the world's largest, posted their biggest annual drop on record in 2015, adding to worries about growing capital outflows that are dragging its yuan currency to multi-year lows and mauling global financial markets. "The sharp fall in foreign exchange reserves indicates increased pressure on capital...

  • Chinese mainland shares tumbled around 7 percent, triggering a circuit breaker for the second time in a week after the People's Bank of China guided the yuan to its lowest level since March 2011. Peter Kinsella, head of emerging markets strategy at Commerzbank, said data showing the biggest annual fall in Chinese foreign exchange reserves on record in 2015,...

  • LONDON/ WILDBAD KREUTH, Germany, Jan 7- A majority of Britons who have made up their minds would vote to leave the European Union in a forthcoming referendum, making Britain by far the most reluctant member of the 28- nation bloc, an opinion poll published on Thursday showed. As Prime Minister David Cameron pushed for a deal from other EU leaders to improve London's...

  • *China's central bank buys 19 tonnes of gold in December. SINGAPORE, Jan 7- China added more gold to its reserves in December, bringing its total purchases in the second half of 2015 to more than 100 tonnes, with analysts predicting the country will continue purchasing at a similar pace this year. China's gold reserves stood at 56.66 million troy ounces at the end of...

  • The previous record for registrations in Britain was set in 2003 when 2.58 million new cars were sold. Car sales in Britain, Europe's second-biggest auto market after Germany, fell sharply after the 2007-8 financial crisis but have gradually recovered, returning in 2014 to pre-crisis levels at 2.48 million. British consumers have benefited from low interest...

  • LONDON, Jan 7- Britain's Financial Conduct Authority has begun a preliminary investigation into whether a trader at Lloyds Banking Group tried to manipulate the market for UK government bonds, a source familiar with the matter said. News of the probe comes as a blow to Britain's biggest provider of current accounts and mortgages, which has invested millions of...

  • *MSCI All World index hits 3- month low. LONDON, Jan 7- Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000 s, after China guided the yuan lower and Shanghai shares tumbled by 7 percent, igniting fears of competitive devaluations across Asia. European stock markets followed Asia lower, with the pan-European...

  • TOKYO, Jan 7- Japanese stocks have posted their worst New Year losing steak since 1995 with the benchmark Nikkei falling below levels many market players expected to be a bottom for the year. The Nikkei share average slid to a three-month low of 17,767.34 on Thursday, dragged down by a slew of bearish factors- slumping Chinese stocks and a weakening yuan, North...

  • LONDON, Jan 7- Oil slid below $33 a barrel on Thursday to levels not seen in more than a decade, as a tumble in Chinese equities rattled investors already concerned by near-record production and massive stockpiles of unwanted crude. China let the yuan slip on Thursday, sending regional currencies and stock markets tumbling as the offshore yuan fell to its lowest...

  • BEIJING, Jan 7- China's gold reserves stood at 56.66 million fine troy ounces at the end of December, up from 56.05 million at end-November, the central bank said on Thursday. China began updating its reserve figures on a monthly basis in June 2015. Prior to that, the reserve figures weren't updated regularly.

  • BEIJING, Jan 7- China's foreign exchange reserves, the world's largest, fell $107.9 billion in December to $3.33 trillion, the biggest monthly drop on record, central bank data showed on Thursday. China's foreign exchange reserves fell $512.66 billion in 2015, the biggest annual drop on record. China's International Monetary Fund reserve position was at $4.55...

  • BEIJING, Jan 7- The new yuan midpoint pricing mechanism launched in August has achieved the anticipated result and the midpoint will be more market-oriented in the future, the China Foreign Exchange Trade System said on Thursday.

  • *Commodity currencies hit hard on China worries. *Uncertainty on China policies worries investors. LONDON, Jan 7- The yen rose to its highest against the dollar in more than four months on Thursday as investors looked for a haven after China guided the yuan aggressively lower, fuelling fresh anxiety about its economy and its policy intentions.

  • *Barclays, BNP Paribas, Deutsche likely to cut jobs- sources. *Barclays likely to add to S.Korea, Taiwan cuts- sources. Bankers and headhunters told Reuters that BNP Paribas SA, Deutsche Bank AG and Barclays PLC are among lenders likely to cut back equities trading and research teams in non-core markets in Asia this year.