CNBC Utilities Page Wires

  • Nov 16- The chief of California's top utilities regulator said on Friday he was shocked to learn that reassurances he made to investors about PG&E caused the embattled power utility's stock to surge over 40 percent in a matter of minutes. PG&E's stock had slumped over 60 percent since the state's deadliest-ever wildfire broke out last week on fears that...

  • Nov 16- Karey Burke will replace Channing Dungey as president of Walt Disney's ABC Entertainment, the company said on Friday. Disney is also on the verge of gaining new film and television properties from its purchase of assets from Twenty-First Century Fox Inc for $71.3 billion. After the completion of the Fox deal, Burke will report to Dana Walden, chairman of...

  • The move comes weeks after Republican Senator Chuck Grassley of Iowa, one of the country's biggest farm states and the biggest hog-producing state, slammed Smithfield for receiving what he said was aid from the USDA that was meant to help American farmers hurt by China's trade tariffs. USDA has agreed to the termination, " Tim Murtaugh, a spokesman for the USDA,...

  • NEW YORK, Nov 16- U.S. In a CNBC interview at the U.S. central bank's Washington headquarters on Friday, Fed Vice Chair Richard Clarida said the bank needs to be particularly data-dependent as rates are near the 2.5 percent to 3.5 percent "neutral" range that neither stimulates nor brakes economic growth. "The big driver right now is Fed speech," said Guy LeBas, chief...

  • Nov 16- Federal Reserve policymakers on Friday signaled further interest rate increases ahead, even as they raised relatively muted concerns over a potential global slowdown that has markets betting heavily that the rate-hike cycle will soon peter out. "We are at a point now where we really need to be especially data dependent," Richard Clarida, the Fed's newly...

  • MONTREAL, TORONTO Nov 16- Bombardier Inc's top executives met with investors in Montreal on Friday after a disappointing free cash flow forecast and regulatory action, which sent the plane and train maker's shares down 20 percent, sources familiar with the matter said. The Montreal meeting with Bombardier Chief Executive Alain Bellemare and Chief Financial...

  • Nov 16- Karey Burke will replace Channing Dungey as president of Walt Disney's ABC Entertainment, the company said on Friday. Burke is currently head of original programming for Disney's cable channel Freeform. Dungey will stay through a transition period as Burke assumes her new role, Disney said.

  • TORONTO, Nov 16- The Canadian dollar strengthened to its highest in more than one week against its U.S. counterpart on Friday, extending this week's gain as the greenback broadly fell and domestic data showed that factory sales edged higher in September. At 4:42 p.m., the Canadian dollar was. The currency touched its strongest level since Nov. 8 at 1.3128.

  • NEW YORK, Nov 16- China and Japan, the two biggest foreign U.S. creditors, cut their U.S. China remained the biggest holder of Treasuries with $1.151 trillion in September, which was the lowest amount since June 2017. On the other hand, Japan bought $16.07 billion in U.S. government debt in September, the highest amount since June 2017, Treasury data showed.

  • losing run@ Nov 16- Latin American stocks and currencies soared on Friday to more than one-week closing highs, aided by a soft dollar, with assets in Brazil and Mexico putting in particularly strong showings. Federal Reserve Vice Chair Richard Clarida's comments that U.S. interest rates were nearing Fed estimates of a neutral rate as dovish.

  • *OPEC could cut supply by 1.4 mln bpd to prevent glut. NEW YORK, Nov 16- Oil ended slightly firmer after volatile trading on Friday, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns. OPEC kingpin Saudi Arabia is...

  • WASHINGTON, Nov 16- Senator Chuck Grassley said on Friday he will relinquish his job as U.S. Senate Judiciary Committee Chairman next year, creating a coveted vacancy atop a panel that reviews judicial nominations and was among those examining Russia's role in U.S. elections. The Senate must confirm appointments to the Supreme Court and other federal...

  • Nov 16- The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but declines in shares of Nvidia Corp, Amazon.com Inc and Facebook Inc helped to drag down the Nasdaq.

  • NEW YORK, Nov 16- Foreigners cut back their holdings of U.S. government debt in September after making their biggest monthly purchase of Treasuries since June 2015 the month before, data from the Treasury Department showed on Friday. Overseas official and private investors in total sold $11.539 billion in Treasuries last month, compared with $63.13 billion...

  • *Kirkuk exports had been halted since October 2017. *Iraq took over Kirkuk after failed Kurdish independence vote. LONDON/ BAGHDAD, Nov 16- Iraq on Friday restarted exports of Kirkuk oil, halted a year ago due to a standoff between the central government and Kurdistan's semi-autonomous region, after a new government in Baghdad agreed a tentative deal with Erbil.

  • BUENOS AIRES, Nov 16- Argentina's central bank could eliminate its benchmark interest rate floor as soon as Dec. 3 if it sees inflation expectations dip for two months in a row, two sources at the central bank said on Friday. Argentina posted a 5.4 percent inflation last month compared to 6.5 percent inflation rate posted in September. Argentina has implemented a...

  • NEW YORK, Nov 16- The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods. U.S. stocks moved higher, however, after President Donald Trump said China seemed willing to make a deal on trade and that the United States may not have to impose further tariffs on the Chinese...

  • proceed with case on "funding secured" tweet- FBN Gasparino's Tweet@. *SOURCES SAY LAWYERS FOR TESLA FEEL INCREASINGLY CONFIDENT DOJ WONT PROCEED WITH CASE ON FUNDING SECURED TWEET- FBN GASPARINO'S TWEET. *SOURCES BELIEVE ONLY SERIOUS OUTSTANDING DOJ/SEC ISSUES INVOLVES TESLA'S MODEL 3 PROJECTIONS- FBN GASPARINO'S TWEET Source text: https://bit.ly/2zcOvhf...

  • SOURCES BELIEVE ONLY SERIOUS OUTSTANDING DOJ/SEC ISSUES INVOLVES TESLA'S MODEL 3 PROJECTIONS- FBN GASPARINO'S TWEET.

  • *Sterling recovers as key Brexiteers back UK PM May's plan. NEW YORK, Nov 16- The dollar fell broadly on Friday in the wake of cautious comments from two U.S. The greenback fell to one-week lows versus the euro and a two-week trough against the yen following comments from Fed Vice Chair Richard Clarida, who told CNBC television he saw some evidence that global growth...