CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • ABU DHABI/ DUBAI, Nov 23- First Gulf Bank, the third-largest lender by assets in the United Arab Emirates, has cut close to 100 jobs, three sources aware of the matter said on Monday, in the latest sign of Gulf banks adjusting to deteriorating market conditions. "First Gulf Bank released a number of staff as a result of efficiency measures that have streamlined and...

  • *Pfizer set to buy Allergan for over $150 bln- sources. Industrial metals copper and nickel plunged and oil prices whipsawed, while the euro fell as low as $1.06 as the prospect of more policy easing by the ECB in Europe was compounded by a security lockdown in Brussels. Oil prices were highly volatile, with U.S. crude off $1.30 or 3 percent at $40.60 a barrel at one...

  • *Euro recovers footing after falling to $1.0600. LONDON, Nov 23- The Norwegian crown jumped to its highest in six weeks and the Australian and Canadian dollars recovered on Monday after oil prices jumped on a Saudi government briefing note saying it was ready to cooperate in maintaining stable markets. "It is the oil price move which has done this," said one trader in...

  • Nov 23- General Electric Co said on Monday it would sell its $5.9 billion portfolio of UK home loans to an investment consortium led by Blackstone Group LP, as it exits its UK mortgage business. The deal is part of GE's plan to divest assets worth about $200 billion of its finance arm, GE Capital, as it moves away from finance and focuses on manufacturing industrial...

  • LOS ANGELES, Nov 23- Asian automakers are opening up a new front in the contest to define the future of cars in California, fielding a flock of cars powered by hydrogen in a bid to woo green car buyers from Tesla Motors Inc, the battery electric vehicle leader. Toyota, Honda and Hyundai used the opening days of the Los Angeles auto show, which draws thousands of car...

  • VALLE DE CASABLANCA, Chile, Nov 23- Well into their drive to make Chile's wines less about bang-for-your-buck and more about premium vino, vintners in the world's fourth largest wine exporter are watching some of their promising vines wither with climate change. Nestled between the Pacific Ocean to the west and the Andes mountain range on the east, Chile's...

  • FRANKFURT, Nov 23- The European Central Bank will take a closer look at banker pay, which it sees a possible source of trouble, and wants conduct risk to be part of its next stress test of the sector, the ECB's chief bank supervisor said on Monday. "We see incentives- both financial and non-financial- as having a critical role, since their misalignment with business and...

  • Nov 23- Tyson Foods Inc, the biggest U.S. meat processor, reported better-than-expected quarterly sales, helped by strong demand for chicken products and as the Hillshire Brands acquisition boosted sales of prepared foods. The company bought Jimmy Dean sausage maker Hillshire Brands Co last year for $8.5 billion. Net income attributable to Tyson rose to $258...

  • Nov 23- Troubled U.S. solar company SunEdison Inc said on Monday chief executives of its two yield cos had stepped down and the company's chief financial officer will assume additional roles of chief executive at the units. Chief Financial Officer Brian Wuebbels will assume additional roles of Chief Executive at the yield cos, TerraForm Power Inc and...

  • LONDON, Nov 23- U.S. soybeans fell to the lowest level in more than 6-1/ 2 years on Monday weighed by the election in Argentina of a president who has promised to cut export taxes and boost production in the South American farming powerhouse. Corn and wheat prices on the Chicago Board of Trade also fell as a rise in the dollar triggered losses in crude oil and many other...

  • West Texas Intermediate crude futures were up 28 cents a barrel at $42.18 a barrel by 1230 GMT, having fallen by more than 3 percent earlier on a stronger dollar. Benchmark January Brent futures were up 67 cents at $45.33 a barrel. "Saudi Arabia hasn't said they won't cut, but that doesn't mean they are going to increase production either-- it's very loose news."

  • JOHANNESBURG, Nov 23- South Africa's Vodacom wants to rework a $500 million deal to buy local fixed-line operator Neotel, it said on Monday, after a competition watchdog proposed conditions that could undermine the value of the transaction for Vodacom. Vodacom, a unit of Britain's Vodafone, also asked the Competition Tribunal to delay hearings into the deal...

  • Nov 23- Tyson Foods Inc, the biggest U.S. meat processor, reported a 4 percent rise in quarterly sales, helped by higher demand for chicken and as the Hillshire Brands acquisition boosted sales of prepared foods. Net income attributable to Tyson rose to $258 million, or 63 cents per share, in the fourth quarter ended Oct. 3, from $137 million, or 35 cents per share, a year...

  • *Geopolitical security issues also weighed on investors' minds with a lockdown in Brussels continuing for a third day as police hunt for a suspected Islamist militant on the run since the Nov. 13 attacks in Paris. *Allergan's shares were down 2.4 percent at $305 in premarket trading, after agreeing to be bought by Pfizer in a deal valued at about $160 billion.

  • Pfizer Chief Executive Ian Read will be CEO of the combined company, while Allergan CEO Brent Saunders will be Chief Operating Officer, the companies said on Monday. New York- based Pfizer and Allergan, headquartered in Ireland, said Allergan shareholders will receive 11.3 shares in the combined company for each share held. Pfizer stockholders will have the...

  • LONDON, Nov 23- Argentinian assets rose broadly on Monday after conservative opposition challenger Mauricio Macri scraped to victory in the presidential election, ending more than a decade of rule under the Peronist movement. Argentina's sovereign bonds gained: defaulted 2033 dollar discount bonds added 1.4 percent to 114.303 cents, their highest level...

  • Nov 23- General Electric Co said on Monday it would sell its $5.9 billion worth portfolio of UK home loans to an investment consortium led by Blackstone Group LP, as it exits its UK mortgage business.

  • BRENT CRUDE OIL FUTURES TURN POSITIVE, UP $1 A BARREL AT $45.66/ BBL.

  • JERUSALEM, Nov 23- Israeli Prime Minister Benjamin Netanyahu said on Monday he was against a planned merger between mobile phone operator Cellcom and smaller rival Golan Telecom, strengthening political opposition that threatens the deal. Cellcom, Israel's largest cellular provider, agreed on Nov. 5 to buy Golan for about $300 million but the deal has upset...