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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • SHANGHAI, May 26- Despite being blocked in China, Twitter is courting Chinese companies to buy advertising space on its service used by more than 300 million people elsewhere in the world. The San Francisco- based company already works with Chinese smartphone maker Xiaomi, online shopping giant Alibaba Group, white goods producer Qingdao Haier and flag carrier...

  • *IMF expects China growth of 6.8 pct this year. BEIJING, May 26- China's yuan currency is no longer undervalued after its recent gains, but the government should quicken reforms to get to having "a floating exchange rate", the International Monetary Fund said on Tuesday. In a reference to how China still has a large trade surplus, despite a stronger yuan, the IMF said...

  • EMC to buy Virtustream for $1.2 bln in cash Tuesday, 26 May 2015 | 8:18 AM ET

    May 26- Data storage products maker EMC Corp said it would buy privately-held Virtustream for about $1.2 billion in cash. EMC said on Tuesday that Virtustream would form its new managed cloud services business. The deal, which is expected to close in the third quarter, is expected to add to EMC's revenue and profit in 2016, the company said.

  • UPDATE 2-Charter to buy Time Warner Cable for $56 bln Tuesday, 26 May 2015 | 7:55 AM ET

    May 26- John Malone's Charter Communications Inc struck a $56 billion deal to buy Time Warner Cable Inc, seeking to combine the third and second largest U.S. cable operators to better compete against market leader Comcast Corp.. Charter, in which Malone-chaired Liberty Broadband Corp owns about 26 percent, offered about $195.71 in cash-and-stock for each Time...

  • GUIYANG, China, May 26- Taiwan's Foxconn Technology Group, the world's largest contract electronics manufacturer, is aiming to develop 10-12 facilities in India, including factories and data centres, by 2020, company Chairman Terry Gou said on Tuesday. The company could spend a "few billion dollars" on developing the facilities, said Gou, whose company's listed...

  • Expectations that yuan-denominated shares listed on the Shanghai and Shenzhen exchanges could make the cut have grown as reforms such as the Hong Kong-Shanghai Stock Connect scheme have helped open up China's stock market. "FTSE have offered a half-measure and that's not completely suprising given the intransigence with which a number of major index...

  • WASHINGTON, May 26- U.S. satellite imagery provider DigitalGlobe Inc and Sweden's Saab AB on Tuesday announced a new joint venture aimed at building an accurate 3- D model of the earth and capturing billions of dollars in new business. Frazier said the new venture would use Saab's 3- D computer processing technology and DigitalGlobe's vast archive of billions...

  • *Spain, Portugal bonds hit by Rajoy defeat in local vote. A battering in Sunday regional and local elections cast doubt on Prime Minister Mariano Rajoy's bet that an economic recovery will secure him a second term later this year and raised concerns in Portugal about the outcome. Portugal has been celebrated among Europe's elite as a model of how to reform an...

  • BRUSSELS, May 26- The European Commission said on Tuesday it would continue its investigation into Luxembourg's tax treatment of Amazon after reports the online retailer had changed its tax practices in Europe. We are examining the concerns that the tax ruling granted by Luxembourg to Amazon is providing the company with selective advantages, "said...

  • US STOCKS-Futures lower ahead of raft of data Tuesday, 26 May 2015 | 7:36 AM ET

    May 26- U.S. stock index futures were lower on Tuesday ahead of a raft of data and after Federal Reserve Chair Janet Yellen indicated that the central bank could raise interest rates this year. *New home sales data at 10:00 a.m. ET is expected to show sales increased to an adjusted annual rate of 510,000 units in April from 481,000 units in March.

  • GUIYANG, China/ SHANGHAI, May 26- Uber Technologies Inc is leading a charm offensive in China even as the controversial U.S. ride-hailing app valued at $40 billion battles with raids on its offices and a crackdown on its drivers deemed to be operating illegally. Speaking at a technology conference in southern China, CEO Travis Kalanick called on local...

  • LONDON, May 26- The next change to bank capital requirements in Britain is likely to be a tightening rather than a loosening as the economic recovery moves towards a peak, a Bank of England policymaker has said. Martin Taylor, a member of the BoE's Financial Policy Committee, said a global deal on banking standards was close and the industry in Britain was well...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The deal, a part of Barrick's plan to reduce net debt by at least $3 billion by the end of the year, comes a day after the world's largest bullion producer sold its...

  • May 26- Travel websites operator Priceline Group Inc will invest an additional $250 million in Chinese online travel company Ctrip.com International Ltd to tap the fast-growing China market. Ctrip will issue convertible bonds to Priceline for the investment, the two companies said in a joint statement on Tuesday. Ctrip's shares rose 4.5 percent to $88.45 in...

  • Opening statements are expected to begin on Tuesday in Manhattan state court in the criminal case against former Dewey& LeBoeuf chairman Steven Davis, 62; ex-executive director Stephen DiCarmine, 58; and ex-chief financial official Joel Sanders, 57.. Prosecutors from the Manhattan District Attorney's office say the defendants overstated revenue and...

  • Spanish and Greek concerns peg back European shares Tuesday, 26 May 2015 | 6:45 AM ET

    *Ryanair's shares rise after airline's profits surge. LONDON, May 26- European stock markets stumbled on Tuesday, as Greece's debt problems and a battering for Spain's government in local elections offset a rise in airline shares. Irish airline Ryanair surged 6.3 percent after posting higher profits.

  • May 26- Charter Communications Inc said it would buy Time Warner Cable Inc in a deal valued at $78.7 billion, as the second and third largest U.S. cable operators look to better compete with market leader Comcast Corp. The equity portion of the deal is $55.76 billion based on Time Warner Cable's diluted shares outstanding as of March 31. The offer values each Time...

  • DUBLIN, May 26- Ryanair trumpeted the success of its image makeover after soaring passenger numbers helped the Irish airline to post a 66 percent rise in full-year profit. The budget carrier, whose outspoken CEO Michael O'Leary softened his notoriously no-frills business model last year, said passenger numbers grew nearly three times faster than original...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The unit, Barrick Niugini, owns 95 percent in the Porgera mine and the Papua New Guinea owns the rest. After the sale, Zijin and Barrick will jointly control Barrick...

  • LONDON, May 26- Gold fell more than 1 percent on Tuesday as the dollar extended gains following stronger U.S. inflation data and comments from Federal Reserve Chair Janet Yellen that reinforced the central bank's tightening bias on monetary policy. "The dollar is back in vogue, it's turned after last week's strong CPI data, Yellen comments, and there should be more...