CNBC Utilities Page Wires

  • *Exxon opted to suspend process due to violence in Algeria. ALGIERS/ LONDON, March 20- Talks between Exxon Mobil and Algeria to develop a natural gas field in the North African country have stalled because of unrest, industry sources said, the first economic fallout from the almost month-long anti-government protests. Last week, officials from the two sides held...

  • *China in focus, other largely Asian countries in mind. BRUSSELS, March 20- The European Union executive is urging EU leaders this week to get tough on trade with Beijing and use their 2.4 trillion euro market in public tenders as leverage to pressure countries such as China to open up. European Commission Vice President Jyrki Katainen told Reuters that the time...

  • March 20- Vaping products supplier Greenlane Holdings Inc filed for an initial public offering with the U.S. Securities and Exchange Commission on Wednesday. The company intends to list itself on the Nasdaq under the symbol "GNLN," it said in a regulatory filing http://bit.ly/2WdNmiw. Greenlane set a placeholder amount of $92 million to indicate the size of the...

  • *Steps up cost cuts by $300 million. ZURICH, March 20- UBS is to cut an extra $300 million in costs in 2019 after investment banking revenues plunged in the first quarter, Switzerland's biggest bank said, sounding a pessimistic note about full-year prospects. Chief Executive Sergio Ermotti, who outlined the cost cuts in a speech to a London investment conference on...

  • ADDIS ABABA, March 20- The dreams of the two young men soared as high as the Ethiopian Airlines planes they proudly flew. Studious, serious Ahmednur Mohammed rented his first apartment with his maiden paycheck in February. He spoke to Reuters after a ceremony at the Kenyan embassy in Addis Ababa to honour the 32 Kenyan victims from the crash.

  • ADDIS ABABA, March 20- The dreams of the two young men soared as high as the Ethiopian Airlines planes they proudly flew. Studious, serious Ahmednur Mohammed rented his first apartment with his maiden paycheck in February. He spoke to Reuters after a ceremony at the Kenyan embassy in Addis Ababa to honor the 32 Kenyan victims from the crash.

  • LONDON, March 20- Core euro zone bond yields on Wednesday edged off 1-1/ 2 week highs hit earlier this week as the market waited for further clarity on the direction of U.S. interest rates and analysts struggled to make sense of the UK's Brexit negotiations. After the European Central Bank earlier this month acknowledged slowing growth while unveiling a new cheap...

  • March 20- Palladium rose to an all-time high on Tuesday as the supply outlook tightened further, while gold steadied ahead of an interest rate decision in the United States. Spot palladium hit a record of $1,608 an ounce earlier before easing back to trade 0.2 percent lower at $1,592.91 at 1228 GMT. "The story remains the same as long as there is tight supply," said...

  • March 20- Wall Street's main indexes were set to eke out gains at open on Wednesday, as investors cautiously waited for more clarity on the Federal Reserve's monetary policy outlook for the year, while trade worries still lingered. The U.S. central bank is largely expected to keep the fed funds rate steady and lower the number of hikes forecast for 2019 as it wraps...

  • BRUSSELS, March 20- EU Competition Commissioner Margrethe Vestager said on Wednesday she will assess the impact of an EU court ruling on the rescue of Italy's Tercas bank, but insisted the case should not be linked to other past bank rescues. In a blow to EU antitrust regulators, EU judges had ruled on Tuesday that Italy's rescue plan for the rescue of the ailing...

  • *Exxon opted to suspend process due to violence in Algeria. ALGIERS/ LONDON, March 20- Talks between Exxon Mobil and Algeria to develop a natural gas field in the North African country have stalled because of domestic unrest, industry sources said. Last week, officials from the two sides held talks in Houston, Texas to hammer out details but Exxon opted to suspend the...

  • *Nerves over U.S.- China talks spark selling in Asia and Europe. LONDON, March 20- World shares' longest rally of the year looked set to stumble on Wednesday as investors took profits before a U.S. European stock markets followed a lacklustre Asian session, putting the MSCI gauge of global stocks on course to end seven days of gains, as reports of renewed tension in...

  • LONDON, March 20- Rapid flows of investor money into physically backed platinum exchange-traded funds and a sharp drop in speculative bets on lower prices suggest the autocatalyst metal is on the verge of a recovery. That price barely covers production costs in top producer South Africa. "Looking at it from a long-term value investor perspective, now is the time...

  • PARIS/ SINGAPORE, March 20- Chicago grain and soybean futures were flat to slightly lower on Wednesday as traders assessed the risks to U.S. spring planting from flooding and awaited more clues about trade talks between Washington and Beijing. "There is plenty of soybean supply around the world and we have yet to see China resume buying," said one Singapore- based...

  • BERLIN, March 20- German Finance Minister Olaf Scholz said on Wednesday that he had not made any provisions for costs related to a possible merger of Deutsche Bank and Commerzbank in his budget plans. He said the German government would keep itself informed about the merger talks but any decision would need to be taken by the banks themselves.

  • *Reports U.S.- China trade talks hit a snag. LONDON, March 20- The dollar gained on Wednesday, attracting safe-haven bids after reports of further tension in U.S.- China trade negotiations, but its gains were slight, with caution expected from the Federal Reserve at its policy meeting later in the day. The negative impact on the dollar from the pause in the Fed's...

  • *Toyota to supply Suzuki with gasoline-hybrid systems. NAGOYA, March 20- Toyota Motor Corp and Suzuki Motor Corp on Wednesday said they planned to produce electric vehicles and compact cars for each other to better compete with fast-changing technologies in the global auto industry. The agreement follows an initial R&D tie-up announced by Japan's No. 1 and No. 4...

  • GOOGLE'S KENT WALKER SAYS COMPANY HAS ALREADY MADE A WIDE RANGE OF CHANGES TO ITS PRODUCTS TO ADDRESS EU COMMISSION'S CONCERNS.

  • BRUSSELS, March 20- Europe's antitrust chief Margrethe Vestager gave a cautious welcome on Wednesday to Google's attempts to boost rivals and offer Android users a choice of browser and search apps in order to comply with her orders in two separate cases. "We see positive developments both in the shopping and Android case," Vestager told a news conference after...

  • NEW DELHI, March 20- State Bank of India's chairman said on Wednesday that putting Jet Airways into bankruptcy is the "last option" and that its lenders are making every effort to keep the airline flying. "We believe that it is in everybody's interest that Jet Airways continues to fly," SBI chairman Rajnish Kumar told reporters after a meeting with government...