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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • HONG KONG, Feb 27- China's yuan fell to the lowest level against the dollar in more than two years on Friday, after the central bank weakened the midpoint by nearly 100 points to reflect strength in the global dollar index. The People's Bank of China set the midpoint rate at 6.1475 per dollar prior to market open, weaker than the previous fix 6.1379.

  • TOKYO, Feb 27- Japanese households cut spending more than expected and retail sales fell for the first time in seven months in January, data showed on Friday, a sign the central bank's radical stimulus has yet to convince consumers that inflation will take hold. But the soft consumption underscores the uneven nature of the recovery and poses a headache for the...

  • RIO DE JANEIRO, Feb 26- Norway's BW Offshore said on Thursday it had found the body of a seventh victim of a Feb. 11 blast on a production vessel it operates for Brazil's state-run oil company Petroleo Brasileiro SA. Two crew members of the Cidade de Sao Mateus floating production, offloading and storage ship are still missing. The vessel produced from the Camarupim...

  • *Treasury H1 net profit A $42.6 mln vs A $106.2 mln. SYDNEY, Feb 27- Australia's Treasury Wine Estates Ltd, the world's biggest listed standalone wine firm, said it strong sales of its top-shelf labels helped it swing back to profit in the first half. Net profit for the maker of the Penfolds, Beringer and Wolf Blass brands was A $42.6 million for the six months to Dec. 31, a...

  • HOUSTON, Feb 26- The United Steelworkers union and lead refinery owner representative Shell Oil Co discussed on Thursday a possible resumption of face-to-face negotiations to settle the U.S. refinery strike, which was in its 26th day, people familiar with the discussions told Reuters. No date had been set as of Thursday for resuming direct meetings, the sources...

  • YOKOHAMA, Japan, Feb 27- Nissan Motor Co will be able to meet its goal of taking 10 percent of the U.S. market in two years without any major new investments and by making use of capacity available at factories in Japan and South Korea, a top executive said on Friday. Jose Munoz, executive vice president of Nissan and chairman of its North American arm, also said there was...

  • MELBOURNE, Feb 27- London copper was flat on Friday but on track to record its biggest monthly gain since Sept 2012, on a mix of short-covering and some fresh long positions as traders bet on a price recovery ahead of China's seasonally strong second quarter. *Three-month copper on the London Metal Exchange climbed to $5,890 a tonne by 0126 GMT, after climbing 2.2...

  • Feb 26- Shares of department store chain J.C. Penney Co Inc tumbled 12 percent in after-hours trade on Thursday after it posted a surprise quarterly loss and forecast small margin improvements this year. J.C. Penney said sales at stores open more than a year rose 4.4 percent in the holiday quarter, the high end of its guidance for 3.5 to 4.5 percent growth, driven by...

  • SINGAPORE, Feb 27- Gold advanced for a third session running on Friday and was on track to end a four-week losing streak, supported by a softer dollar and hopes that the U.S. central bank will not rush to raise interest rates. *Spot gold was up 0.2 percent at $1,210.60 an ounce by 0042 GMT, having touched a one-week high of $1,220 on Thursday. It regained some lost ground...

  • TOKYO, Feb 27- The dollar took a breather in Tokyo on Friday after surging to a one-month high against a basket of currencies overnight as U.S. economic data and comments from Federal Reserve officials prompted investors to raise their bets on a rate increase. The euro edged up about 0.1 percent in Asian trade to $1.1197, but remained not far from a one-month low of...

  • *Rest of Asia stocks sag after Wall St dips on sharp oil fall. The rest of Asian equity markets lagged Japan after a sharp pullback in oil prices dulled risk appetite and sent Wall Street lower overnight. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent, with South Korean and Australian shares posting light losses.

  • TOKYO, Feb 27- Japanese households cut spending more than expected and retail sales fell for the first time in seven months in January, data showed on Friday, a sign the central bank's radical stimulus has yet to convince consumers that inflation will take hold. Factory output jumped in January as exports rebounded on solid U.S. and Asia demand, but manufactures...

  • DIARY-Top Economic Events to March 12 Thursday, 26 Feb 2015 | 7:01 PM ET

    NEW YORK- Federal Reserve Bank of Cleveland President Loretta Mester, Federal Reserve Bank of New York President William Dudley, Federal Reserve Vice Chair Stanley Fischer, former Federal Reserve chair Ben Bernanke and Bank of Japan Deputy Governor Hiroshi Nakaso participate in the U.S. Monetary Policy Forum 2015 Annual Conference sponsored by the...

  • Japan Jan factory output jumps 4.0 pct mth/mth Thursday, 26 Feb 2015 | 6:53 PM ET

    TOKYO, Feb 27- Japan's factory output jumped 4.0 percent in January from the previous month, government data showed on Friday, adding to recent signs the economy is steadily emerging from the doldrums. The result compared with a median market forecast for a 2.7 percent increase. Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output...

  • Feb 26- Splunk Inc forecast full-year revenue above analysts' expectations as businesses increasingly turn to data analytics to secure their networks from a surge in highly sophisticated cyber attacks. "Cybersecurity has been a huge tailwind for Splunk, and that's really put a lot of fuel in their growth engine," FBR Capital Markets analyst Daniel Ives told...

  • SAN FRANCISCO, Feb 26- Mobile chipmaker Qualcomm wants wireless carriers to set up new technology that would offer cellphone users better reception in places like subway tunnels and shopping malls. Qualcomm sees the addition of new technologies like LTE-U to its smartphone chips as key to staying competitive and giving consumers reasons to upgrade their...

  • Feb 26- Apparel retailer Gap Inc forecast a drop in full-year profit, citing a strong dollar, shipment delays due to disruptions at U.S. West Coast ports and declining sales at its flagship Gap brand. The company named Wendi Goldman as executive vice president of Gap's product design and development team, a month after it eliminated the role of brand creative...

  • WASHINGTON, Feb 26- The United States and five East African countries pledged on Thursday to ease trade flows and set the stage for more U.S. investment, a program that could be extended to other parts of Africa. The agreement commits Tanzania, Kenya, Uganda, Rwanda and Burundi to cooperate with the United States in customs issues, ease red tape at borders, reduce...

  • SAO PAULO, Feb 26- Brazilian truckers continued a nine-day-old strike on Thursday, unmoved by an initial government offer to meet some of their demands or by threats of hefty fines. The strike, which spread from a few road blocks on Feb. 18 in the main soybean state of Mato Grosso to 91 blockades across nine states on Thursday, has caused lines at filling stations and...

  • Despite a 15 percent drop in viewership to 37.3 million, however, it is still worth the price tag for advertisers and broadcaster ABC, analysts said. ABC pays $75 million annually to the Academy of Motion Picture Arts and Sciences for TV broadcast rights, said Brad Adgate, the research director at Horizon Media. The contract with Walt Disney Co's ABC and the Academy...