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CNBC Utilities Page Wires

  • NEW YORK— President Donald Trump's personal lawyer, Michael Cohen, is distancing himself from an associate in the taxi industry who pleaded guilty to tax fraud. Evgeny Freidman was dubbed the Taxi King of New York for managing cab fleets for investors including Cohen. The person wasn't authorized to publicly discuss it and spoke to The Associated Press on...

  • *Talk of sanctions on Iran, lower Venezuelan supply support. *Possible lift of OPEC supply curbs could undermine rally. NEW YORK, May 23- Oil benchmarks fell on Wednesday after an unexpected build in U.S. crude and gasoline inventories despite strong demand, and as traders weighed the possibility of an increase in OPEC crude output to cover any shortfalls in supply...

  • LISBON, May 23- Portugal's market watchdog has waived a requirement in its takeover rules that will make it easier for China Three Gorges to pursue its bid for utility EDP-Energias de Portugal. There has been speculation that a number of other utilities, including Spain's Gas Natural and France's Engie have been looking at EDP. Its shares were 0.17 percent...

  • LONDON, May 23- Sterling slid on Wednesday to a new five-month low after weaker-than-expected UK inflation dented the prospect of the Bank of England raising interest rates this year. The pound had been one of the best-performing currencies in 2018 but it has given up all its gains for the year following a broad rally in the dollar and signs Britain's economy is...

  • So that's what we factored in to maintain our guidance, "Chief Financial Officer Marshall Croom said on a conference call with analysts. Still, Lowe's Chief Executive Officer Robert Niblock said the company was already seeing a double-digit increase in same-store sales for May. "Thankfully, as the season has begun to spike over the past couple of weeks, we believe...

  • KUALA LUMPUR, May 23- Ninety-two-year-old Malaysian Prime Minister Mahathir Mohamad held his first cabinet meeting on Wednesday as officials widen a probe into corruption linked to the previous government with raids on sites linked to the head of a Muslim pilgrimage fund. The Malaysian Anti-Corruption Commission will finish taking a statement from Najib,...

  • *Italy's 5- Star piles pressure on president over PM choice. ROME, May 23- Italian President Sergio Mattarella summoned on Wednesday a political novice who has been put forward by the anti-establishment 5- Star Movement and far-right League as their candidate to lead a coalition government. The meeting with little-known law professor Giuseppe Conte was set...

  • May 23- Comcast Corp confirmed on Wednesday it was preparing a higher, all-cash offer for most of the media assets of Twenty-First Century Fox, setting up a bidding war with rival Walt Disney Co, which already has agreed to a $52- billion deal with Fox. The news lifted Fox shares 0.9 percent to $38.52. Comcast shares were down 1.6 percent at $31.97 and Disney shares...

  • NEW YORK, May 23- U.S. crude oil stockpiles climbed unexpectedly last week as net imports jumped, while gasoline stocks also posted a surprise build, the Energy Information Administration said on Wednesday. "The large rise in crude oil inventories made for a bearish report, and it came as a result of decent sized drop in exports, along with a large increase in imports,"...

  • May 23- Shares of EVO Payments Inc rose as much as 26 percent in their debut on Wednesday, giving the company a market valuation of $1.54 billion. EVO's shares opened at $20.05, above their initial public offering price of $16. The Atlanta, Georgia- based company facilitates payments by linking stores to customers' bank accounts and has operations in 50 markets...

  • NEW YORK, May 23- Target Corp shares pared losses to trade down 5 percent on Wednesday as investors weighed a lower-than-expected quarterly profit against the retailer's unchanged full-year outlook. The pressure to deliver items faster has intensified since Amazon's purchase of Whole Foods, which rattled the grocery industry on worries the online seller...

  • BRASÍLIA/SÃO PAULO, May 23- The Brazilian government and a group representing truck drivers were due to meet on Wednesday to try to negotiate an end to trucker protests this week over diesel prices that have affected transportation of goods ranging from auto parts to animal feed. The two sides would meet in the afternoon at the office of Eliseu Padilha,...

  • SAN FRANCISCO, May 23- Fashionistas have earned a total of $1 billion selling clothes and accessories through online marketplace Poshmark, the startup's chief executive told Reuters on Tuesday, highlighting the opportunity still available for young ecommerce companies despite the ever-present threat of Amazon.com Inc.. The earnings have been spread...

  • LIMA, May 23- Peruvian President Martin Vizcarra repealed five offshore oil contracts that his predecessor had awarded to Tullow Oil in March before resigning, according to a decree published in the official gazette on Wednesday. Vizcarra, Kuzynski's former vice president, has distanced himself from his predecessor as he aims to strengthen ties with the...

  • BERLIN— German officials say the number of British nationals who received German citizenship hit a new high last year that is likely linked to the U.K.' s 2016 referendum to leave the European Union. Brexit has prompted British citizens to seek passports from the EU's remaining countries to preserve their right to live and work in the world's most powerful...

  • Colombians go to the polls on Sunday in an election pitting right-wing frontrunner Ivan Duque against second-placed Gustavo Petro, a leftist former guerrilla and ex-mayor of Bogota. With several other candidates taking part, the race to replace President Juan Manuel Santos at the helm of Latin America's fourth-largest economy will almost certainly go to a...

  • The White House declined to comment, and the office of the U.S. Trade Representative referred queries to the White House. Trump has repeatedly criticized the large trade imbalance on autos between the United States and the EU.

  • May 23- Payment processor EVO Payments Inc's shares rose as much as 26 percent to $20.18 in its market debut on Wednesday. Shares opened at $20.05, above its initial public offering price of $16. The offering of 14 million Class A shares by EVO Payments and selling stockholders raised $224 million, after being priced at the upper-end of its projected range.

  • *Q2 EPS C $2.95 vs forecast C $2.80. TORONTO, May 23- Canadian Imperial Bank of Commerce expects the number of new mortgages it grants to halve in the second half of the year due to stricter lending rules, it said on Wednesday. The measures were part of moves to cool rampant housing markets in Toronto and Vancouver and CIBC's Canadian retail banking head Christina...

  • SAN FRANCISCO, May 23- Two U.S. consumer advocacy groups urged the Federal Trade Commission on Wednesday to investigate what they called Tesla Inc's "deceptive and misleading" use of the name Autopilot for its assisted-driving technology. The Center for Auto Safety and Consumer Watchdog, both non-profit groups, sent a letter to the FTC saying that consumers...