CNBC Utilities Page Wires

  • SINGAPORE, Jan 16- Asia's gasoline crack was at a discount of 32 cents a barrel to Brent crude on Wednesday, 1 cent higher than the previous session which was near a one-week low on the back of an unyielding glut.- The bearish fundamentals have dragged the average gasoline profit margin for the first-half of January to about 45 cents a barrel, the lowest for the period...

  • LONDON, Jan 16- The pound held at a two-month high against the euro on Wednesday as markets looked towards a no-confidence motion against Prime Minister Theresa May's government, a day after British lawmakers overwhelmingly defeated her Brexit divorce deal. With the 230- vote margin far more than markets were anticipating, the pound gained, particularly...

  • NEW YORK, Jan 16- My preteen daughter earned her first dollars in 2018, so I wanted to seed her retirement account. Dennis Nolte, a certified financial planner in Winter Park, Florida, had one of his career highlights when a couple came to thank him for his help setting up a savings plan from zero. They did not have $2,500 to meet the money market minimum, so Nolte set them...

  • CAIRO, Jan 16- Egypt agreed a $1.2 billion deal with the Export-Import Bank of China to finance a light rail system from an industrial city on the outskirts of Cairo to a new capital it is building, the transportation minister said. The loan has a 1.8 percent interest rate and matures in five years, the minister said. $461 million will be for infrastructure and $739...

  • KUALA LUMPUR, Jan 16- Malaysian palm oil futures edged down on Wednesday, though remained range-bound, tracking weakness in soyoil overnight on the U.S. Chicago Board of Trade and crude oil prices. Trading volumes stood at 31,538 lots of 25 tonnes each at the end of the trading day. "Palm is down tracking overnight losses in the CBOT and lower crude oil," said a Kuala...

  • BEIJING, Jan 16- China's overseas investment rose only marginally in 2018 as the yuan weakened and regulators cracked down on deals that were suspected to be skirting controls on moving money out of the country. China's non-financial outbound direct investment in 2018 rose 0.3 percent from a year earlier to $120.5 billion, the Ministry of Commerce said on...

  • FRANKFURT, Jan 16- German carmakers on Wednesday warned of fatal consequences if Britain left the European Union without a divorce deal, predicting job losses in Britain and Europe and urging lawmakers to redouble efforts to ensure tariff-free trade can continue. Britain would suffer most if it lost free trade with European markets since 80 percent of...

  • TOKYO, Jan 16- The Bank of Japan is expected to cut its inflation forecasts at next week's rate review, sources say, a sign slumping oil prices and a darkening global economic outlook are heightening challenges for hitting its ambitious 2 percent target. But the BoJ is likely to maintain its upbeat assessment that Japan's economy will keep expanding moderately...

  • CHINA C.BANKS NET FOREX SALE 4 BLN YUAN IN DEC-REUTERS CALCULATIONS.

  • BEIJING, Jan 16- China's central bank sold a net 4 billion yuan worth of foreign exchange in December, according to Reuters calculations based on central bank data released on Wednesday. The following are historical data for central bank foreign exchange sales/purchases since Dec 2017, based on Reuters calculations. Month Net change Dec 2018 -40.41 Nov 2018...

  • *OPEC- led supply cuts support crude prices. *Surging U.S. stocks may undermine OPEC efforts. LONDON, Jan 16- Oil prices steadied on Wednesday after climbing about 3 percent in the previous session on expectations that OPEC- led production cuts will tighten supply and that possible Chinese stimulus might help the global economy.

  • Jan 16- Pearson Plc said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. The FTSE 100 company has struggled to grow its U.S. higher education courseware as students have moved away from new textbooks for second-hand...

  • Jan 16- A six-year run of marketing spending growth at British companies ended in the final quarter of 2018 as uncertainty over Britain's impending exit from the European Union led companies to clamp down on costs, a survey showed on Wednesday. British lawmakers defeated Prime Minister Theresa May's Brexit divorce deal by a crushing margin on Tuesday,...

  • *UK parliament deals crushing blow to Brexit deal. *UK housebuilders climb on hopes no-deal Brexit less likely. "There's still quite a lot of uncertainty... a hard exit is a lower probability risk than it was but I don't think we can completely discount it," said Caroline Simmons, deputy head of the UK investment office for UBS Global Wealth Management.

  • WASHINGTON, Jan 16- The risk that global efforts to tackle climate change will fail has risen despite concerns about powerful storms, floods, and droughts, a survey released by the World Economic Forum said on Wednesday, days before its annual gathering in Davos. After 200 countries, including the United States, agreed to tackle climate change in 2015 at U.N. talks...

  • *Panalpina to consider 170 franc per share proposal. ZURICH/ COPENHAGEN, Jan 16- Denmark's DSV has made a $4.1 billion takeover approach to Swiss rival Panalpina to try to close the gap on the world's top three freight transport companies. DSV's approach to Panalpina comes just months after it failed in an attempt to buy Switzerland's Ceva Logistics.

  • BEIJING, Jan 16- China said on Wednesday that it was "not worried in the slightest" by mounting international concern over the death sentence handed to a Canadian for drug smuggling. Monday's sentence for Robert Schellenberg for smuggling 222 kg of methamphetamines prompted Canadian Prime Minister Justin Trudeau to accuse China of "arbitrarily" applying the...

  • *Russia's rouble gains 0.5 percent, oil rises. Jan 16- Most emerging market currencies firmed against the dollar on Wednesday, with Turkey's lira strengthening ahead of a central bank rate decision, while stocks in the developing world notched a six-week peak. Turkey's central bank sets borrowing costs later in the day, with a Reuters poll predicting the key rate...

  • Jan 16- DSV CEO JENS BJORN ANDERSEN SAYS IN INTERVIEW:. *CEO SAYS HAS WATCHED PANALPINA FOR MANY YEARS, ATTRACTED BY ITS LARGE PRESENCE IN AIR, SEA TRANSPORT. *CEO SAYS HAS GIVEN "VERY ATTRACTIVE OFFER" WITH LARGE PREMIUM TO HISTORIC TRADING IN PANALPINA.

  • *MSCI's Asia-Pacific ex- Japan index little changed. LONDON, Jan 16- World equity markets on Wednesday rode out the heavy parliamentary defeat for British Prime Minister Theresa May's Brexit deal, as investors saw potential for legislative deadlock to force London to delay its departure from the EU. May's government faces a no confidence vote on Wednesday...