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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • Feb 26- Adam Goodman, president of Viacom Inc's Paramount movie studio, is expected to leave soon, more than a year before his contract ends, the LA Times reported, citing a person close to the studio. The company is "reviewing its creative organization," the LA Times said, citing a person familiar with the situation. Goodman joined Paramount in 2008 and a year later took...

  • *Takes impairment, other charges of $438 mln for full-yr. SINGAPORE, Feb 26- Asian commodities trader Noble Group Ltd reported its first quarterly loss in three years and took impairment charges of over $400 million, days after it was hit by allegations of aggressive accounting from an obscure research firm. The Singapore- listed company said it had swung to a...

  • NEW DELHI, Feb 26- India's government unveiled plans on Thursday to invest $137 billion in its decrepit rail network over the next five years, heralding Prime Minister Narendra Modi's aggressive approach to building infrastructure needed to unlock faster economic growth. Over the next year, India will increase investment by about a half to 1 trillion rupees...

  • MUNICH, Feb 26- German insurer Allianz raised its dividend by less than expected after earnings in its core property and casualty insurance businesses lagged and asset management stalled following client defections at its U.S. unit Pimco. Shares in Europe's largest insurer fell more than 3 percent on Thursday and were the biggest decliners in Germany's blue...

  • *Sales of 5 key drugs seen at close to 4 bln eur in 2015. LEVERKUSEN, Germany, Feb 26- Germany's largest drugmaker Bayer said it expects underlying core earnings to increase by more than 10 percent this year, banking on a boost from new drugs such as stroke prevention pill Xarelto. The company is benefiting from a strong dollar in particular as North America accounts...

  • BERLIN, Feb 26- German unemployment fell to its lowest level in more than two decades in February and consumer morale hit a more than 13- year high, boosting expectations that private consumption will help drive growth in Europe's largest economy this year. Data from the Labour Office showed the number of people out of work in Germany decreased by 20,000 on a...

  • Feb 26- South Carolina's Supreme Court ordered Johnson& Johnson to pay a penalty of $136 million, upholding a jury's finding that the drugmaker's Janssen unit had improperly marketed its anti-psychotic drug Risperdal and concealed its risks. A trial court had earlier ordered J&J to pay $327 million, but the Supreme Court more than halved that penalty, citing a...

  • Russian rouble strengthens below 60 roubles per dollar Thursday, 26 Feb 2015 | 5:07 AM ET

    MOSCOW, Feb 26- The Russian rouble strengthened below 60 roubles per dollar on Thursday for the first time since early January. At 1005 GMT the rouble had fallen back slightly to 60.07, still up 2 percent on the day. The rouble is being supported by a rebound in the oil price, with Brent continuing to rally on Thursday to around $62.5 per barrel.

  • BRUSSELS, Feb 26- Confidence in the euro zone's economy strengthened for the second straight month in February, but the improving morale in Italy, France and Spain was not shared in Germany, where there was less support for the ECB's money printing plan. The European Commission's economic sentiment indicator rose by 0.7 points to 102.1, the EU executive said on...

  • Hong Kong seeks to rival Singapore as corporate FX hub Thursday, 26 Feb 2015 | 4:56 AM ET

    HONG KONG, Feb 26- In a bid to rival Singapore, Hong Kong is introducing sweeping tax measures aimed at making it a more attractive centre in Asia for global corporations to trade foreign exchange. To counter that, Hong Kong will table a bill to remove hurdles that deter companies from locating their treasury functions in Hong Kong, Financial Secretary John Tsang...

  • *Raft of corporate earnings keep Europe flat. LONDON, Feb 26- German seven-year bond yields fell below zero for the first time ever on Thursday, as investors positioned themselves for an extended era of cheap money ahead of the European Central Bank's looming bond-buying scheme. Bets that a U.S. rate hike might come later than expected, triggered by comments by Fed...

  • *Q4 core profit 414 mln euros vs 400 mln expected. *Increases dividend 6.3 pct to 3.40 euros. BRUSSELS, Feb 26- Belgian chemicals group Solvay on Thursday said it would pay out more to its shareholders after its core profit for the fourth quarter beat expectations, as the group was able to raise its prices faster than raw material costs increased.

  • *RBS to cut investment bank assets by over 60 pct. *Howard Davies confirmed as chairman. LONDON, Feb 26- Royal Bank of Scotland will drastically shrink its investment banking operations, pulling out of 25 countries across Europe, Asia and the Middle East and allowing the state-controlled lender to refocus on local lending in Britain.

  • HONG KONG, Feb 26- Hong Kong billionaire Li Ka- shing on Thursday said he is upbeat on the outlook for the China- controlled city, and that the biggest threat is if a Hong Kong government proposal on universal suffrage fails to get passed. Li, 86, speaking at an earnings briefing for his companies Cheung Kong Holdings Ltd and Hutchison Whampoa Ltd, also said he has no...

  • LONDON, Feb 26- Standard Chartered said former JPMorgan investment bank boss Bill Winters will take over as chief executive in June to replace Peter Sands, after investors demanded change at the helm following two years of problems. Asia- focused bank Standard Chartered said on Thursday Chairman John Peace will also leave next year, and named other changes to...

  • *Cheung Kong net HK $54 bln vs HK $37 bln analyst view. Li has been selling assets and increasing the pace of overseas acquisitions- particularly infrastructure, telecoms and retail businesses in Europe- sparking speculation that he is withdrawing from Hong Kong and mainland China, a claim he has consistently denied. Li's family sold more than $2 billion worth of...

  • FOREX-Aussie up, kiwi down in becalmed FX markets Thursday, 26 Feb 2015 | 4:05 AM ET

    *New Zealand shows surprise trade surplus. LONDON, Feb 26- The Australian and New Zealand dollars were the main movers among major currencies on Thursday, pushed in opposite directions by contrasting signals on the health of two struggling economies. Federal Reserve chief Janet Yellen have done little to move on the debate over when U.S. interest rates will rise,...

  • *GM to stop car manufacturing in Indonesia. BEIJING, Feb 26- General Motors is to stop making cars in Indonesia, a battleground for global automakers in emerging Southeast Asia, closing an assembly plant, axing some 500 jobs and shifting its branding focus to sport utility vehicles. GM tried to take on Japanese rivals by locally producing its Chevrolet Spin, a...

  • LONDON, Feb 26- Anglo Dutch publisher Reed Elsevier plans to rename itself RELX and simplify its structure into one unit to make it more transparent for investors in the latest stage of its transformation. Analysts at Citi also said the alignment of the shareholder structure- maintaining a dual listing but combining all its assets into a single new group entity...

  • BERLIN, Feb 26- Germany's jobless rate remained at a record low of 6.5 percent for a third straight month in February, data showed on Thursday, boosting expectations that private consumption will help drive growth in Europe's largest economy this year. That was in line with the consensus forecast in a Reuters poll and remains the lowest since German...