CNBC Utilities Page Wires

  • WASHINGTON, Aug 14- Ford Motor Co disclosed Tuesday it will spend $740 million on a project to revamp Michigan Central Station, Detroits historic but dilapidated former rail station, as well as other neighborhood sites. The second largest U.S. automaker based in Dearborn, Michigan, about 10 miles from Detroit, announced the project in June, but had not previously...

  • WASHINGTON, Aug 14- Lockheed Martin Corp has been awarded a U.S. Air Force contract worth up to $2.9 billion for three missile warning satellites, the Air Force said on Tuesday. Lockheed's Next-Generation Overhead Persistent Infrared Satellites will provide improved missile warning capabilities that are more survivable against emerging threats than the...

  • BOGOTA, Aug 14- Ecopetrol SA, Colombia's state-run oil company, said on Tuesday its second-quarter net profit rose to 3.5 trillion pesos, up 170 percent from the same period in 2017, thanks to higher crude prices. The company plans to invest between $3.5 billion and $4 billion this year to boost production and explore for more oil to replenish dwindling reserves,...

  • BOGOTA, Aug 14- Ecopetrol SA, Colombia's state-run oil company, said on Tuesday its second-quarter net profit rose to 3.5 trillion pesos, up 170 percent from the same period in 2017, thanks to higher crude prices. The company plans to invest between $3.5 billion and $4 billion this year to boost production and explore for more oil to replenish dwindling reserves,...

  • Aug 14- Tesla Inc's board named a special committee of three directors on Tuesday to decide what to do about Chief Executive Elon Musk's potential offer to take the electric carmaker private, although Musk has yet to make a formal offer and is still negotiating to hire advisers needed to do a deal. Since that unorthodox announcement on Aug. 7, which has triggered...

  • The proposed acquisition is Diamondback's second in the Permian in a week, after striking a deal to pay $1.2 billion for Ajax Resources LLC. West Texas shale producers also are facing pressure to expand scale and efficiency in the Permian basin as higher costs for services, and the need to secure limited pipeline transport out of the region, weigh on smaller and...

  • rebounds@ SAO PAULO, Aug 14- Latin American equities mounted a second day of a comeback on Tuesday as the region shook off the impact of panic selling in Turkey's lira, while the currencies of Mexico, Brazil and Argentina rebounded from the global battering. Brazil's real and Mexico peso both rose sharply alongside the lira, but currencies in Colombia, Peru, and...

  • NEW YORK, Aug 14- Two major Tesla Inc shareholders cut their stakes in the electric automaker during the second quarter, before Chief Executive Elon Musk announced he would try to take the company private earlier this month. T. Rowe Price Group Inc funds, once the No. 2 Tesla shareholder after Musk, cut their holdings by nearly a quarter to 11.9 million shares in the...

  • *Turkey is target of economic war, says president. *U.S. demanding release of Christian pastor in Turkey. ISTANBUL, Aug 14- President Tayyip Erdogan said on Tuesday that Turkey would boycott electronic products from the United States, retaliating in a row with Washington that has helped drive the lira to record lows.

  • NEW YORK, Aug 14- Advocacy groups on Tuesday filed a lawsuit challenging the decision by President Donald Trump's administration to allow Arkansas to impose work requirements on Medicaid recipients in the state. The lawsuit, filed against the U.S. Department of Health and Human Services in federal court in Washington on behalf of three Medicaid recipients in...

  • BOGOTA, Aug 14- Ecopetrol, Colombia's state-run oil company, said on Tuesday its second quarter net profit rose to 3.52 trillion pesos, up 169.7 percent from the same period in 2017..

  • Aug 14- Warren Buffett's Berkshire Hathaway Inc boosted its investments in Goldman Sachs Group Inc and Israel's Teva Pharmaceutical Industries Ltd during the second quarter and confirmed it has expanded its already huge bet on iPhone maker Apple Inc.. Investors closely watch Berkshire's quarterly stock listings for signs about where Buffett and his...

  • Aug 14- Kroger Co has partnered with Alibaba Group Holding Ltd to sell nuts, supplements and other products in China, venturing outside the United States for the first time in what is fast becoming a fierce global battle to dominate online grocery sales. "E-commerce enables Kroger to quickly scale to reach new customers and markets where we don't operate...

  • BOSTON, Aug 14- Hedge fund Starboard Value said on Tuesday that it sold half of its stake in consumer products company Newell Brands, whose chief executive officer it sought to replace, about four months after ending its proxy contest. The activist firm, run by Jeffrey Smith, said it owned 8.7 million shares of the maker of Sharpie markers, Mr. The information came in a...

  • NEW YORK, Aug 14- Bayer AG unit Monsanto faces long odds on an appeal blaming an "inflamed" jury and "junk science" for a verdict of $289 million in damages to a man who said the company's Roundup weed killer caused his cancer, according to some legal experts. Monsanto said on Monday it planned to challenge the verdict on the grounds that the judge should have barred...

  • BUENOS AIRES, Aug 14- Argentina has suspended for six months its program of gradually cutting taxes on exports of soymeal and soyoil, the Treasury Ministry said in a statement on Tuesday, part of the government's fiscal tightening program. Beginning after the next harvest, Argentina had expected to export significant amounts of soymeal to China as the South...

  • The following selection of data points indicate there is relative weakness in Argentina and South Africa, while Asia and Mexico show strength. Argentina, with the largest net deficit on this list, is one of the markets usually expected to suffer under continued U.S. dollar strengtheni ng. Combined with data on import/expo rt balances, the FDI data highlights...

  • Aug 14- U.S. oil and gas company Diamondback Energy Inc said on Tuesday it would buy Energen Corp in an all-stock deal valued at $9.2 billion to expand in the Permian Basin. Energen was under pressure to sell itself by activist investors Corvex Management, Icahn Associates and Elliott Management. Citigroup Global Markets Inc is the financial adviser to...

  • *Equities gain after Turkey's currency recovers. *Saudi Arabia cut output- OPEC. NEW YORK, Aug 14- Oil prices edged lower on Tuesday, weighed down by a strengthening U.S. dollar as investors remained concerned about the financial crisis in Turkey.

  • Aug 14- Viavi Solutions Inc forecast first-quarter results above Wall Street estimates on Tuesday as it looks to benefit from higher sales of its 3 D sensing products and 5 G wireless deployment. The company expects net revenue of $257 million to $277 million and adjusted earnings of 12 cents to 15 cents in the first quarter of fiscal 2019..