CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • PARIS/ SINGAPORE, Jan 4- Chicago soybean futures slid on Monday to touch a two-week low, with rain in Brazil's top soybean belt keeping the country on course for a bumper harvest, on top of already ample global supply of the oilseed. Wheat edged lower as worries about weather risks for U.S. and Black Sea crops eased and large worldwide stocks continued to cap prices,...

  • BERLIN, Jan 4- German annual inflation unexpectedly slowed in December and the rate for the whole of 2015 fell to its lowest level on record, data showed on Monday, in a sign that overall price pressures in Europe's largest economy remain extremely weak. The reading came in below the consensus forecast of 0.4 percent in a Reuters poll, and was far from the European...

  • Jan 4- AXIM Biotechnologies Inc, a small, Manhattan- based company with ties to the Netherlands, says it has a trump card in its quest to develop a cannabis-based chewing gum to ease the symptoms of multiple sclerosis. That spray, called Sativex, is already approved in 27 countries- though not the United States, where cannabis remains prohibited under federal law.

  • The agreement holds a total potential value up to 1.4 billion euros in option fees and milestones over the long term, in addition to royalties on worldwide sales, Baxalta said. Baxalta's shares were up 5 percent at $41.00 in premarket trading. Baxalta and Symphogen said on Monday they expect to conduct the first early-stage study in 2017..

  • BENGALURU/ SYDNEY, Jan 4- The global economy finished last year on a fragile footing, with factory activity in China shrinking for the 10th month running in December while a pick-up in the euro zone was tepid, suggesting more policy stimulus may be in the pipeline. Coming on a day of turmoil in Asian stock markets after China's central bank fixed the yuan at a 4-1/ 2...

  • LONDON, Jan 4- Heating oil prices in the United States are trading as if it was mid-summer rather than winter, as warm weather and sluggish demand from freight companies combine to make heating oil cheaper than gasoline. On Dec. 31, the front-month futures price of heating oil closed at $1.10 per gallon, a discount of almost 17 cents to the futures price of gasoline.

  • Jan 4- Tallgrass Energy Partners LP said it would buy an additional 31.3 percent stake in Tallgrass Pony Express Pipeline LLC for about $743.6 million from Tallgrass Development LP. Tallgrass Energy Partners will pay $475 million in cash and 6.52 million in common units to Tallgrass Development. Tallgrass Energy Partners and Tallgrass Development are...

  • Jan 4- Acadia Healthcare Co Inc said it was buying a private behavioral healthcare service provider in the United Kingdom for about 1.28 billion pounds, including debt. Priory Group is a behavioral health service provider with about 300 facilities and 7,200 beds. The transaction is expected to add 38- 42 cents per share to Acadia's annual earnings, the company...

  • JAKARTA, Jan 4- Indonesia has postponed a new levy on fossil fuels intended to support development of renewable energy resources and improve energy security, its energy minister said on Monday, a day before it had been due to come into effect. The decision highlights the difficulties President Joko Widodo faces in devising an energy policy for Southeast Asia's...

  • Jan 4- Drugmaker Baxalta Inc said on Monday it inked a deal with privately held Symphogen under which the companies will develop immuno-oncology drugs. The agreement holds a total potential value up to 1.4 billion euros in option fees and milestones over the long term, in addition to royalties on worldwide sales, Baxalta said. Denmark- based Symphogen would...

  • FDA approves 45 new drugs in 2015 vs 41 in 2014. LONDON, Jan 4- 2015 was a good year for innovation in medicine with the U.S. Food and Drug Administration approving 45 novel drugs, four more than in 2014 and the most since the all-time record of 53 set in 1996.. Across the Atlantic, the European Medicines Agency recommended 93 new products, including generics, up from 82 in...

  • *Manufacturing surveys showed China's factory activity contracted at a sharp pace in December, while China's central bank fixed the yuan at a 4-1/ 2- year low. *Crude oil prices rose after a breakdown in diplomatic ties between Saudi Arabia and Iran raised concerns of supply restrictions, while gold jumped more than 1 percent as investors fled to the safe haven...

  • NEW DELHI, Jan 4- India will need to increase budgetary allocations for irrigation projects and offer higher procurement prices for crops to support farmers hit by two years of drought, farmer associations said on Monday. Drought in many parts of the country has hit production of rice, cotton and other crops, hurting the popularity of Prime Minister Narendra...

  • LONDON, Jan 4- A 7 percent drop in Chinese shares on Monday halted trading in Shanghai and dragged down stock markets around the world, as investors began 2016 with fresh worries over global growth and sought the safety of bonds and gold. Rising tensions in the Middle East added to the gloom. Oil prices soared more than a dollar to $38.50 before giving back some of...

  • PRETORIA, Jan 4- South Africa is aiming to meet requirements set by the United States as part of the African Growth and Opportunity Act that have stalled over health concerns, Trade and Industry minister Rob Davies said on Monday.

  • SOUTH AFRICA TRADE MINISTER SAYS AIMING TO MEET REQUIREMENTS FOR AGOA TRADE AGREEMENTS WITH THE U.S.AHEAD OF DEADLINE.

  • LONDON, Jan 4- Oil prices edged up on Monday after a breakdown in diplomatic ties between Saudi Arabia and Iran that some speculated could result in supply restrictions, although gains were tempered by data showing some of Asia's largest economies are struggling. Saudi Arabia, the world's biggest oil exporter, cut diplomatic ties with Iran on Sunday in response...

  • *DAX down more than 3 pct as weak China data hits markets. *Ferrari shares slip on Milan debut. China's factory activity contracted for the 10th straight month in December and the decline accelerated compared with November, a private survey showed.

  • SHANGHAI, Jan 4- China's major stock exchanges tanked on the first trading day of the year, triggering a "circuit-breaker" that suspended equities trade nation-wide for the first time and put months of regulatory work to restore market stability at risk. The selloff saw the CSI300 index of the largest listed companies in Shanghai and Shenzhen lose 7.0 percent...

  • SEOUL, Jan 4- North Korea may send a delegation to the World Economic Forum meeting in Switzerland for the first time in 18 years, South Korea's Yonhap news agency reported on Monday, a sign that it sees international engagement as a way to bolster its economy. Yonhap cited unidentified sources as saying North Korea was in talks with organisers to send a delegation...