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CNBC Utilities Page Wires

  • BRUSSELS— The European Union will start imposing duties on a list of U.S. products as of Friday in response to President Donald Trump's decision to slap tariffs on steel and aluminum imports from Europe. The 28- nation EU was first expected to do so only next month but EU Trade Commissioner Cecilia Malmstrom said they would introduce "rebalancing" tariffs on...

  • LEAWOOD, Kan.— AMC Theatres is rolling out its own movie ticket program as it looks to take on the success of MoviePass. MoviePass, a startup that was letting customers watch a movie a day at theaters for just $10 a month, announced in April that it's limiting new customers to four movies a month. Moviegoers partaking in Stubs A-List will be able to see films at any...

  • U.S. stock markets are opening higher Wednesday as investors set aside fears about a U.S. trade war with China for the moment. Global markets were shaken Tuesday as the U.S. and China escalated their trade dispute with fresh threats of tariffs, although U.S. stocks recovered most of their losses by the end of trading. Markets in Asia and Europe recovered some of...

  • NEW YORK— AMC Theatres, the world's largest movie theater chain, has unveiled a $20- a-month subscription service as a rival the flagging MoviePass. That's more expensive than the $9.99 monthly fee for MoviePass, but AMC's plan gives access to premium format screenings like IMAX and 3- D. AMC Theaters chief executive Adam Aron said their program is at a "...

  • WASHINGTON— Federal Reserve Chairman Jerome Powell says the Fed will likely keep raising short-term interest rates at a gradual pace, partly because there are few signs, so far, that the ultra-low U.S. unemployment rate is pushing up inflation. In a speech in Portugal, Powell said Wednesday that with the unemployment rate at an 18- year low of 3.8 percent and...

  • MONTPELIER, Vt.— The U.S. Food and Drug Administration is backing off its plan to label pure natural products like maple syrup and honey as containing added sugars. Maple syrup and honey producers had rallied against the plan, saying FDA's upcoming requirement to update nutrition labels to tell consumers that pure maple syrup and honey contain added sugars was...

  • MENOMONEE FALLS, Wis. _ Actuant Corp. on Wednesday reported fiscal third-quarter net income of $29 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share. For the current quarter ending in August, Actuant expects its per-share earnings to range from 32 cents to 37 cents.

  • Disney is upping the ante for Fox, making a $70.3 billion counterbid for Fox's entertainment businesses following Comcast's $65 billion offer for the company. The battle for Twenty-First Century Fox reflects a new imperative among entertainment and telecommunications firms. The bidding war comes after AT&T bought Time Warner for $81 billion, after a...

  • NEW YORK— Disney boosts its offer for most of Twenty-First Century Fox, bidding war with Comcast heats up.

  • DOWNERS GROVE, Ill. _ Roadrunner Transportation Systems Inc. on Wednesday reported a loss of $23.3 million in its fourth quarter. On a per-share basis, the Downers Grove, Illinois- based company said it had a loss of 61 cents. For the year, the company reported a loss of $91.2 million, or $2.37 per share, swinging to a loss in the period.

  • FOREST CITY, Iowa _ Winnebago Industries Inc. on Wednesday reported fiscal third-quarter net income of $32.5 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share. Four analysts surveyed by Zacks expected $542.4 million.

  • JIASHAN, China _ ReneSola Ltd. on Wednesday reported first-quarter net income of $5.4 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Jiashan, China- based company said it had net income of 14 cents. ReneSola expects full-year revenue in the range of $130 million to $140 million.

  • Imagine that you are looking for a used car on a popular site, such as Autotrader, Cars.com or Craigslist. You find exactly the one you want, with a very attractive price. In the seller's reply, he volunteers that the car is such a great deal because he's a pilot and has had to relocate to the United Kingdom for a job with British Airways.

  • RIDGEVILLE, S.C.— Volvo Cars, the first major automaker to abandon cars powered solely by internal combustion engines, is officially opening its first plant in the United States. The Swedish carmaker aims to make 130,000 hybrid or all-electric vehicles a year at the South Carolina factory, once it reaches peak capacity. Volvo is officially opening the plant...

  • BRUSSELS— The European Union's state aid watchdog is ordering Luxembourg to recover 120 million euros in unpaid taxes from French electricity provider Engie. The watchdog, the European Commission, said Wednesday that Luxembourg allowed two Engie group companies to avoid paying taxes on almost all their profits for about a decade. It said that Luxembourg...

  • SEOUL, South Korea— Hyundai Motor Group says it has signed an agreement with Audi AG to jointly develop electronics vehicles powered by fuel cell. Under the multi-year agreement signed Wednesday, Hyundai's affiliates including Kia and Audi's parent company Volkswagen AG will share components, supply chains and patent licensing. Hyundai, the world's...

  • At the same time, Merkel's hopes of reaching a deal with other European countries to defuse her domestic troubles were boosted by the announcement that Germany and several other nations will hold a mini-summit on migration Sunday in Brussels. The CSU is determined to show that it's tough on migration ahead of an Oct. 14 state election in which it wants to keep...

  • NEW YORK— Hey Alexa, what's my bank account balance? Regional banking giant U.S. Bank is the first bank to be on all three services— Alexa, Siri and Assistant. Credit card companies Capital One and American Express both have Alexa skills that allow customers to check their balances and pay bills.

  • CANBERRA, Australia— Telstra Corp., Australia's largest telecommunications company, announced on Wednesday that it will ax 8,000 jobs— one in four employees— over three years in a bid to save 1 billion Australian dollars. Telstra shares fell more than 7 percent in early trading on the Australian stock market after the announcement to AU $2.70, its lowest price...

  • Britain's FTSE 100 gained 1.2 percent to 7,695.94. ASIA'S DAY: Japan's benchmark Nikkei 225 index rebounded 1.2 percent to close at 22,555.43 and South Korea's Kospi gained 1.0 percent to 2,363.91. Hong Kong's Hang Seng rose 0.8 percent to 29,696.17 and the Shanghai Composite in mainland China increased 0.3 percent to 2,915.73.