CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • LONDON, Dec 15- Domestic regulators are increasingly "gold-plating" new European insurance capital rules by adding their own more stringent requirements, according to a survey of insurance trade associations. Two-thirds of national trade insurance bodies surveyed by Insurance Europe, the umbrella group for the organizations, said local regulators had...

  • HONG KONG, Dec 15- Standard Chartered plc has axed at least half a dozen oil and gas advisory banking roles in recent weeks, ending an eight-year attempt to build a global energy M&A team, people familiar with the matter told Reuters. Asia- focused lender Standard Chartered expanded its energy M&A advisory team just before the global financial crisis by acquiring...

  • *Fosun International shares continue to slide. SHANGHAI, Dec 15- China stocks were flat on Tuesday morning, with a correction in banking and resource shares countering a surge in property firms that was triggered by policy expectations. Hong Kong's Hang Seng index edged up, underpinned by investors betting on a rebound after eight consecutive sessions of...

  • Brent, the global benchmark, was at $37.72 at 0414 GMT, down 20 cents from its last settlement after rising slightly earlier on Tuesday. U.S. crude was at $36.24, down 7 cents. Bearish sentiment remains strong, fuelled by an OPEC decision earlier in December to abandon setting a production ceiling for the oil cartel and a likely rise in Iranian supplies after...

  • BEIJING, Dec 15- A Chinese environmental group said it has sued Volkswagen AG over its use of software to rig emissions tests, in what state-owned media calls the first public interest lawsuit over the scandal in the German company's biggest global market. The China Biodiversity Conservation and Green Development Foundation said in a three-sentence...

  • SHANGHAI, Dec 15- China's yuan weakened against the dollar on Tuesday after the central bank set the midpoint at its lowest level in more than four years for the second day, and traders anticipated the currency will fall further. "The yuan was trading narrowly intraday, as the authorities appeared to want to control the pace of its depreciation," said a dealer at a...

  • Dec 14- A U.S. trade body on Monday upheld its earlier decision that rejected Nvidia Corp's claims of patent violation by Samsung Electronics Co and Qualcomm Inc over use of Nvidia's graphics chip technology. Nvidia, which said it invented the first graphics processing chip and released it in 1999, had accused Korea's Samsung and San Diego- based Qualcomm of...

  • TOKYO, Dec 15- Brent crude was steady in Asian trade on Tuesday, as investors took a breather after losses fuelled by concerns about a global glut and mild winter demand that sent prices close to 11- year lows during the previous session. Brent, the global benchmark, was unchanged at $37.92 by 0247 GMT after rising slightly earlier on Tuesday. The contract settled...

  • *Wheat falls after last session's marginal gains. SINGAPORE, Dec 15- Chicago wheat futures edged lower on Tuesday while corn was largely unchanged, with agricultural markets facing headwinds from Argentina's move to abolish grain export taxes and reduce soybean taxes. Chicago Board of Trade March delivery wheat had fallen 0.2 percent to $4.92-1/ 2 a bushel by...

  • China's yuan, meanwhile, weakened against the dollar after the People's Bank of China set its official midpoint rate at its lowest level in more than four years for a second day. MSCI's broadest index of Asia-Pacific shares outside Japan extended early gains and added 0.5 percent. "Investors remain jittery before the event, but after some correction, the market...

  • RIO DE JANEIRO, Dec 14- Brazil's state of Rio de Janeiro, home to the bulk of the country's oil production, threatened on Monday to impose a new tax on oil and natural gas in the state if the country's oil regulator ANP does not adjust its royalty calculation. Rio de Janeiro produces 67 percent of Brazil's oil and 40 percent of its natural gas. Among the state's main...

  • *Apple suppliers slip on Morgan Stanley iPhone sales outlook. Apple Inc's component suppliers slid after Morgan Stanley forecast a drop in iPhone sales in the next fiscal year. TDK Corp tumbled 3.9 percent, Murata Manufacturing Co dropped 2.3 percent and Nitto Denko Corp fell 2.8 percent.

  • SYDNEY, Dec 15- U.S. soybeans rose for a second consecutive session on Tuesday, though gains were checked by Argentina's new president's commitment to cut export taxes to increase the competitiveness of South American supplies. *Chicago Board Of Trade January soybeans rose 0.2 percent to $8.76 a bushel, having firmed 0.4 percent on Monday, when prices fell to...

  • SYDNEY, Dec 15- Australia's government on Tuesday forecast its budget deficit would swell to A $37.4 billion in the year to June as falling prices for key resource exports open a gaping hole in tax revenue. Treasurer Scott Morrison predicted the shortfall for 2016/ 17 would be A $33.7 billion. The data marks the first major financial stumbling block for Prime...

  • BOSTON, Dec 14- Billionaire hedge fund manager Marc Lasry on Monday backed a junk bond mutual fund hemorrhaging assets at his Avenue Capital Group as jittery investors exit high-yield bonds amid a market rout. Investors have taken note that Lasry's $884 million Avenue Credit Strategies Fund is run by the same portfolio manager who in 2009 helped launch the...

  • SYDNEY, Dec 15- Australia's government on Tuesday forecast its budget deficit would swell to A $37.4 billion in the year to June as falling prices for key resource exports open a gaping hole in tax revenue.

  • MELBOURNE, Dec 15- London copper was a touch firmer on Tuesday as the dollar held steady ahead of the Federal Reserve's crucial policy meeting this week, while hopes for demand growth in top consumer China offered a floor to prices. *Shanghai Futures Exchange copper was also a tad firmer, up 0.2 percent to 36,130 yuan a tonne, having topped the highest in almost a...

  • Dec 14- Dell Inc said in a filing on Monday that it has the flexibility to buy back at least $3 billion in VMWare Inc tracking stock, the special class of shares the computer maker plans to issue to help finance its acquisition of EMC Corp.. The disclosure could prove important as Dell seeks ways to boost the value of VMware, a virtualization software maker...

  • BRASILIA, Dec 14- A senior Brazilian congressman of the ruling Workers' Party said on Monday he will propose cutting the 2016 fiscal savings goal to safeguard a popular social program and public investment despite opposition from Finance Minister Joaquim Levy. Congressman Paulo Pimenta told Reuters the primary budget surplus goal will be smaller than the...

  • SHANGHAI, Dec 15- China's yuan weakened against the dollar on Tuesday after the central bank set the midpoint at its lowest level in more than four years for the second day. The People's Bank of China set its official midpoint rate at 6.4559 per dollar prior to the market open on Tuesday, its weakest level since July 2011, and 0.1 percent weaker than the previous fix...