CNBC Utilities Page Wires

  • ROME, Dec 17- Italy's coalition government has agreed on the "numbers and contents" of the budget it will propose to Brussels in an effort to avoid disciplinary action over its plans to hike deficit spending next year, a League party spokeswoman said on Monday. The European Commission rejected the Italian budget in October, saying it would not lower the country's...

  • Dec 17- A Glencore-controlled mining company and some of its current and former executives have agreed to pay more than $22 million to settle Canadian allegations they hid the risks of doing business with an Israeli close to Congolese President Joseph Kabila, the Wall Street Journal reported. The expected settlement between the Ontario Securities...

  • *Malaysia files charges against two former Goldman bankers. KUALA LUMPUR, Dec 17- Malaysia on Monday filed criminal charges against Goldman Sachs and two of the U.S. bank's former employees in connection with an investigation into suspected corruption and money laundering at state fund 1 MDB. Malaysia will seek jail terms as well as billions in fines from...

  • *Slowing economic growth in China, Europe drags on oil markets. OPEC and its allies have agreed to reduce output by 1.2 million barrels per day from January, in a move to be reviewed at a meeting in April. But U.S. shale output is growing steadily, taking market share from the big Middle East oil producers in OPEC and making it harder for them to balance their budgets.

  • STOCKHOLM, Dec 17- H&M reported on Monday sales growth in the three months to November but doubts about the strength of recovery at the world's second-biggest fashion group sent its shares down. H&M's shares fell 5.9 percent by 0855 GMT, with the sector overall weighed down by Monday's profit warning from British online fashion group ASOS.

  • LONDON, Dec 17- European shares tumbled again on Monday as a profit warning from online fashion retailer ASOS sent retail stocks spiraling down as investors fretted that consumers are failing to deliver the traditional pre-Christmas spending boost to markets. Euro zone stocks were down 0.4 percent while Germany's DAX fell 0.1 percent and Britain's FTSE 100...

  • LONDON, Dec 17- The pound languished near 20- month lows on Monday, with reports that more politicians are calling for a second Brexit referendum doing little to force the currency out of a narrow trading range. With British Prime Minister Theresa May facing deadlock in parliament over her deal to leave the European Union and the bloc offering little so far, calls...

  • TRADE AMBASSADOR SHEA TELLS WTO THAT WASHINGTON SEEKS TRADE LIBERALISATION AND DEEPER TIES WITH COUNTRIES WHICH SHARE ITS COMMITMENT TO "FAIR MARKET COMPETITION AND RECIPROCITY".

  • CHINAS APPROACH IS CAUSING SERIOUS HARM TO THE UNITED STATES AND MANY OTHER WTO MEMBERS AND THEIR COMPANIES AND WORKERS, THIS IS "INCOMPATIBLE" WITH WTO- U.S.

  • "REFORMS ARE NECESSARY FOR THE CONTINUED VIABILITY" OF WTO, WASHINGTON WILL BE AT FOREFRONT OF EFFORTS, U.S.

  • Dec 17- Emerging-market shares stabilized on Monday after a global sell-off last week as investors remained cautious before key policy events in China and the United States this week. MSCI's index for emerging market shares was flat with most Asian indices gaining, but those in South Africa, Russia and Turkey inching lower. The partial recoveries come after a...

  • SINGAPORE, Dec 17- The dollar held near a 18- month high on Monday, bolstered by safe-haven buying as heightened concerns of a global economic slowdown reduced appetites for riskier assets such as stocks and Asian currencies. Weaker-than-expected economic data from China and Europe and fears of a possible U.S. government shutdown spooked investors away from...

  • SINGAPORE, Dec 17- The dollar held near an 18- month high on Monday, bolstered by safe-haven buying as heightened concerns of a global economic slowdown reduced appetite for riskier assets such as stocks and Asian currencies. Weaker-than-expected economic data out of China and Europe and fears of a possible U.S. government shut down spooked investors away...

  • MILAN, Dec 17- An Italian judge said on Monday there was evidence showing oil groups Eni and Royal Dutch Shell were aware that their 2011 purchase of a Nigerian oilfield would result in corrupt payments to Nigerian politicians and officials. Italy's Eni and Shell bought the OPL 245 offshore field for about $1.3 billion. The Milan judge made the comment in handing...

  • Verdi has organized frequent strikes at Amazon in Germany since 2013 to press demands for the retailer to raise pay for warehouse workers in accordance with collective bargaining agreements in Germany's mail order and retail industry. Germany is Amazon's second-biggest market after the United States. Workers in Germany and Spain staged strikes last...

  • *Slowing economic growth in China, Europe drags on oil markets. U.S. shale output is growing steadily, taking market share from the big Middle East oil producers in OPEC and making it harder for them to balance their budgets. "I don't believe OPEC cuts will work this time around with Qatar going out and Iran refusing to cut, while there's a big question mark when Russia...

  • FRANKFURT/ BENGALURU, Dec 17- SSE and Innogy scrapped plans for a British energy retail joint venture on Monday, saying they could not agree on new commercial terms after Britain's regulator proposed a cap on energy bills. SSE and Innogy had warned last month that the deal, which would have created Britain's second biggest retail power provider behind...

  • *France/ Germany yield gap close to wide levels. LONDON, Dec 17- The yield gap between Italian bonds and benchmark Germany's narrowed on Monday as chances of a rapprochement with the European Union grew, but French bonds suffered as "yellow vest" protests rumbled on in Paris over the weekend. In France, Prime Minister Edouard Philippe told the newspaper Les Echos the...

  • *China Enterprises index HSCE falls 0.07 percent. Dec 17- Shares in Hong Kong finished flat on Monday amid low trading volumes, as investors await the outcome of key policy meetings this week in China and the United States. **Many investors are awaiting a speech from President Xi Jinping on Tuesday to mark the 40th anniversary of China's reform and opening.