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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • *Euro hits roughly 10- week high of $1.13680. NEW YORK, May 6- The U.S. dollar hit its lowest level against the euro since late February on Wednesday after a rise in European yields drove demand for the euro and weak U.S. data supported expectations that the Federal Reserve will delay hiking interest rates. "Europeans feel more comfortable in their skin right now," said...

  • *Areva reprocessing sales shrink further post Fukushima. BEAUMONT- HAGUE, France, May 6- Areva's nuclear fuel reprocessing plant in La Hague needs to cut costs as its international customers disappear following the Fukushima disaster, and its sole remaining big customer, fellow state-owned French utility EDF, pressures it to cut prices. Areva said in January it...

  • May 6- Two major proxy advisory firms, Glass Lewis& Co and ISS, recommended that JPMorgan Chase& Co's shareholders vote against the bank's executive compensation plan. JPMorgan's shareholders are scheduled to vote on the bank's executive pay in a non-binding motion at its annual meeting on May 19. Glass Lewis said its analysis indicated that JPMorgan was "...

  • UPDATE 1-Pimco client outflows will hit profit - Allianz Wednesday, 6 May 2015 | 10:57 AM ET

    *Allianz says can't tell when inflows may start. *Allianz Q1 operating profit +4.8 pct, net +11 pct. FRANKFURT/ MUNICH, May 6- Outflows of customer funds from U.S. investment manager Pimco will hurt earnings this year- and it is not yet possible to predict when flows might turn positive again, owner Allianz warned on Wednesday.

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said high equity valuations could pose potential dangers but that stability risks across the U.S. financial system remained in check. "I would highlight that equity market valuations at this point generally are quite high," Yellen said. Yellen's view on the run-up in stocks was an answer to...

  • European shares slip on firmer euro, poor U.S. data Wednesday, 6 May 2015 | 10:57 AM ET

    LONDON, May 6- European shares fell late on Wednesday, surrendering early gains as a rally in the euro and a fall on Wall Street prompted investors to trim their trading positions. "The euro is strengthening and that has taken some of the earlier tailwinds away from the market," Gerhard Schwarz, head of equity strategy at Baader Bank, said, noting a stronger currency...

  • *Traders face overnight shifts, early starts after UK vote. LONDON, May 6- After a five-week campaign that has left Britain's two main parties neck and neck going into Thursday's general election, London's dealing rooms are bracing for days rather than hours of uncertainty. Most famously in 1992, financial markets were so euphoric about the unexpected return of...

  • NEW YORK, May 6- A federal appeals court in Manhattan has rejected efforts by a music licensing group and music publishers that could have forced Internet radio service Pandora Media Inc to pay higher royalties and have access to fewer songs. The 2nd U.S. Circuit Court of Appeals on Wednesday rejected an effort by the American Society of Composers, Authors and...

  • NEW YORK, May 6- A train carrying crude oil derailed and caught fire in Wells County, North Dakota on Wednesday, officials said, just days after the U.S. government announced sweeping reforms to improve safety of the volatile shipments. Heimdal is a tiny town in central North Dakota located along one of the main rail lines heading east out of the giant Bakken oil...

  • *Oil hits 2015 peak on lower U.S. inventory, Middle East tension. "If the rise in yield resulting from dumping Bunds is compounded into other G10 government bonds by possible signs of oil-driven reflation currents, then stocks will have to take notice," said City Index Chief Markets strategist Ashraf Laidi in London. Oil prices hit their highs on the year on...

  • *Fall in bond sales from Russia and ex-Soviet states. LONDON, May 6- Bond sales by companies from Russia and other ex-Soviet countries have fallen to 10- year lows this year, inflating prices for new issues from other regions and leaving funds struggling to place their money. The reduction in new supply from Russia, and to a lesser extent from Latin America, is a...

  • CALGARY, Alberta, May 6- A seismic political shift in Canada's oil-producing heartland of Alberta has left voters, investors and oil executives braced for change as a rookie left-wing government promises major reforms after 44 years of Conservative rule. "The vast majority of energy executives and professionals we spoke with downplayed the polls, projecting...

  • *Nigeria tried to end subsidies in 2012. ABUJA, May 6- Nigeria will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices. While Nigeria is Africa's biggest oil producer, a neglected refining system means it is almost wholly reliant on imports for the 40 million liters per day of gasoline it consumes.

  • Canadian Tire to buy 12 Target property leases in Canada Wednesday, 6 May 2015 | 10:18 AM ET

    May 6- Retailer Canadian Tire Corp said it would buy real estate leases for 12 properties previously held by the Canadian unit of Target Corp for $17.7 million. The 12 new locations will add about 400,000 square feet of retail space to Canadian Tire Retail's store network, the company said on Wednesday. Target, the No. 2 U.S. discount chain, exited Canada last month...

  • SIM sales soar as Myanmar races to catch up in telecoms Wednesday, 6 May 2015 | 10:17 AM ET

    YANGON, May 6- Myanmar, long one of the world's least connected nations in terms of telecommunications, is now racing to catch up, providing a boost to the foreign mobile companies allowed into the country last year. "The Myanmar economy has had more money in circulation than we had originally expected," said Telenor Chief Executive Jon Fredrik Baksaas on Wednesday,...

  • NEW YORK, May 6- Keurig Green Mountain will begin purchasing green coffee out of its new Switzerland office in June, a spokeswoman told Reuters on Wednesday, a move that has prompted a reshuffling of the coffee buying team of the largest U.S. roaster by sales. Late last year, Reuters reported that the Waterbury, Vermont- based coffee roaster and brewing technology...

  • LONDON, May 6- Standard Chartered said it expected Britain to increase its bank levy again and the rising cost of the tax was a key issue in its assessment of whether to keep its headquarters in London or move to Asia. Standard Chartered Chairman John Peace told investors on Wednesday the Asia- focused bank had "no current plans to move" but was keeping its domicile...

  • *Private employers add fewest jobs since Jan 2014. MoneyGram and Synageva soar on buyout offers. "This is certainly going to change expectations for Friday's numbers," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.

  • Oil train derails in North Dakota, small town evacuated Wednesday, 6 May 2015 | 10:10 AM ET

    NEW YORK, May 6- A train carrying crude oil derailed and caught fire in Wells County, North Dakota on Wednesday, according to local media reports. Five tank cars came off the rails, and the nearby town of Heimdal has been evacuated, local media said. The local fire department said there were no injuries in the accident.

  • It also scaled back plans to return 4 billion pounds of cash flowing from a $20 billion- plus asset swap with Novartis to investors, opting instead to pay a 1 billion special dividend. Chief Executive Andrew Witty is under pressure to demonstrate that the Novartis deal can revive GSK's fortunes by focusing it on consumer health and vaccines, following a slide in...