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CNBC Utilities Page Wires

  • OMAHA, Neb.— Berkshire Hathaway's stock price is up 4 percent after easing restrictions on buying back its own shares. The Omaha, Nebraska, conglomerate led by Warren Buffett said Tuesday that after it posts earnings on Aug. 3, it will begin allowing Buffett to buy stock at prices up to the shares' intrinsic value. It will not do so if it would reduce its cash below $20...

  • BRUSSELS, July 18- The European Union will launch measures on Thursday designed to prevent a surge of steel imports into the bloc following the U.S. imposition of tariffs on incoming steel and aluminum. The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States...

  • OTTAWA, July 18- Canadian Prime Minister Justin Trudeau shuffled his cabinet on Wednesday ahead of a challenging 2019 election, stressing the need to diversify trade away from the United States while leaving key ministers in place. Foreign Minister Chrystia Freeland is in charge of ties with the United States, including NAFTA. Trudeau says the strains with...

  • FARNBOROUGH, England, July 18- Engine maker Rolls-Royce is exploring the idea of using robots inspired by snakes and cockroaches to help it inspect and repair engines in the future, the company's researchers said at the Farnborough Airshow. The plan is part of efforts by Rolls to carry out as much maintenance as possible while the engine is on the wing of a plane.

  • Brent crude futures fell 33 cents to $71.83 a barrel by 10:55 a.m. EDT. "There were some supportive factors such as further declines in Cushing, Oklahoma, crude oil inventories, continued strong refinery demand and elevated gasoline demand, but the crude oil inventory rise is the standout, making for a bearish report," said John Kilduff, a partner at Again Capital...

  • Earlier this month, the United States and China slapped tariffs on $34 billion of each other's imports. The European Commission, which is carrying out an investigation on behalf of the 28 EU members, decided that tariffs of between 21.8 and 83.6 percent should apply for all e-bikes coming from China, the EU official journal said. Taiwan's Giant, one of the world's...

  • Powell, in testimony to the Senate Banking Committee, said the U.S. economy is on the cusp of "several years" where the job market remains strong and inflation stays around the Fed's 2 percent target. He repeated the same comments before the U.S. House Financial Services Committee on Wednesday. In contrast, Canada is in the midst of global trade pressures brought on...

  • LONDON, July 18- The premium investors demand to hold Germany's long-dated bonds over benchmark 10- year debt was at its lowest level in over five weeks, pushed lower by bets on ECB action and concerns over long-term growth in Europe and beyond. The gap between German 10- and 30- year bond yields was at 67 basis points, though this was pushed flatter by a recent...

  • Federal Reserve Chairman Jerome Powell said in congressional testimony that he saw the United States on track for years more of steady growth, downplaying the risks of an escalating trade conflict with China. That evening, Kansas City Federal Reserve Bank President Esther George said the Fed should ease away from monetary policy accommodation, further...

  • FRANKFURT, July 18- Germany has said 1,050 owners of the Tesla Model S must forgo a 2,000 euro electric car subsidy because the value of their vehicles surpasses an eligibility threshold. The Federal Office for Economic Affairs and Export Control said only vehicles costing 60,000 euros or less qualified for Germany's "environmental bonus", intended to...

  • Uranium is used in the U.S. nuclear arsenal and powers the Navy's nuclear aircraft carriers and submarines, along with 99 U.S. commercial nuclear reactors that produce 20 percent of the electricity consumed in the United States. "The Department of Commerces Bureau of Industry and Security will conduct a thorough, fair, and transparent review to determine...

  • FARNBOROUGH, England, July 18- Mitsubishi Aircraft Corporation says the days of delays to its MRJ regional jet are behind it, with flight displays at the Farnborough Airshow marking a turning point for the plane. The aircraft, Japan's first passenger plane since the 1960 s, was back in the air on Wednesday after management kept it on the ground the previous day...

  • It was the company's seventh straight quarter in the red but narrowed from a loss of 198 billion rupees in the previous quarter and a 12.21 billion rupee loss in the same quarter a year ago. RCom, controlled by businessman Anil Ambani, is due to sell 181 billion rupee of assets to Reliance Jio Infocomm and Canada's Brookfield, which will trim its huge debt pile.

  • *U.S. production levels near Russia's output. July 18- U.S. crude oil production last week hit 11 million barrels per day for the first time in the nation's history, the Energy Department said on Wednesday, as the ongoing boom in shale production continues to drive output. The gains represent a rapid increase in output, as the data, if confirmed by monthly figures, puts...

  • July 18- Berkshire Hathaway Inc shares rose on Wednesday after its board gave its billionaire chairman, Warren Buffett, more freedom to conduct stock buybacks, which the conglomerate has not done since 2012.. Class A shares of Berkshire gained $10,305, or 3.6 percent, to $298,805 in morning trading, while Class B shares rose $7.47, or 3.9 percent, to $197.88 on the...

  • MOSCOW, July 18- Ukraine's Naftogaz said on Wednesday it was ready to consider an amicable agreement with Russian gas giant Gazprom if it did not harm talks on negotiating a new contract, RIA news agency reported. Naftogaz and Gazprom have been in a long-running dispute over gas contracts. Naftogaz's Chief Executive Officer Andriy Kobolyev said Gazprom's talk...

  • LONDON, July 18- Premier Foods' CEO survived a shareholder revolt to oust him on Wednesday, giving him more time to try turning around the ailing British food maker with steps such as divestments. The maker of Mr Kipling cakes and Bisto gravy has been under shareholder pressure ever since U.S. food maker McCormick abandoned a takeover approach in 2016 and the...

  • Going small is big these days. Just scroll through all the tiny-house shows on cable and you'll see how popular minimalism is. It's also popular for trailers.

  • FARNBOUROUGH, England, July 18- The United States has offered India the armed version of Guardian drones that were originally authorized for sale as unarmed for surveillance purposes, a senior U.S. official and an industry source told Reuters. It would also be the first high-tech unmanned aircraft in the region, where tensions between India and Pakistan run...

  • OFFERS ARMED VERSION OF GUARDIAN DRONE TO INDIA, AFTER INITIALLY AUTHORIZING ONLY UNARMED SALE- SOURCES.