CNBC Utilities Page Wires

  • LONDON, March 19- Another 100 tonnes of zinc were loaded out of the London Metal Exchange warehouse system on Monday. The LME three-month price rose to an eight-month high of $2,882 per tonne last week, up 18 percent this year, before easing slightly to current levels of $2,800. The exchange's stock reports have thrown up many surprises over the intervening years,...

  • WASHINGTON, March 19- Brazilian President Jair Bolsonaro endorsed U.S. President Donald Trump's immigration agenda on the eve of their first meeting at the White House, saying he supports a wall on the U.S.- Mexico border and that most immigrants to the United States wish to do harm. Ahead of Tuesday's Oval Office meeting, Bolsonaro waived a visa requirement for...

  • The blaze at Intercontinental Terminals Co in Deer Park, Texas, has been burning since Sunday when a leaking tank containing volatile naphtha ignited and quickly spread to other nearby tanks, the company said. Some of the chemicals have washed into the adjacent Houston Ship Channel that links the Gulf of Mexico to Houston, the nation's busiest petrochemical...

  • *CEO also names former CFO Ben La Grange. CAPE TOWN, March 19- Former Steinhoff Chief Executive Markus Jooste and seven others were involved in a 6.5 billion euro accounting fraud at the South African retailer, the new CEO told lawmakers on Tuesday. Du Preez then named former CEO Jooste and former Chief Financial Officer Ben la Grange, alongside six other people, who...

  • NAIROBI, March 19- Financiers, passengers and industry partners are, for now, still backing Ethiopian Airlines' quest to become Africa's dominant carrier, despite a March 10 crash that killed 157 people. For the present, however, passenger confidence in Ethiopian Airlines, long regarded as one of the most reliable in Africa, has remained steady, according to the...

  • The mood among German investors improved more than expected in March, a survey by the ZEW research institute showed on Tuesday, as a potential delay to Britain's departure from the European Union buoyed sentiment. British lawmakers voted overwhelmingly last Thursday to seek a delay in Britain's exit from the European Union. "We got a little stronger data out of...

  • COLOMBO, March 19- India's Accord Group and Oman's Ministry of Oil and Gas have signed a $3.85 billion deal to build an oil refinery in Sri Lanka, the biggest single pledge of foreign direct investment ever made in the country. India has been concerned in the past few years about China muscling into Sri Lanka and other countries in the region where India is the...

  • *Cyclone also cut off Mozambique power imports. JOHANNESBURG, March 19- South Africa's Public Enterprises Minister Pravin Gordhan could not say on Tuesday when severe electricity cuts would end, as state utility Eskom suffered a sixth day of capacity constraints which could thwart efforts to boost economic growth. Around 17,000 megawatts of Eskom's 45,000...

  • *Vitol expands retail network to Brazil. LONDON, March 19- Vitol reported higher traded volumes last year on Tuesday, cementing its position as the world's largest oil trader, and said it expected oil demand growth to peak by around 2034.. Vitol's chairman Ian Taylor said in late 2017 he saw oil demand growth peaking by 2028-2030..

  • March 19- Canada's main stock index rose on Tuesday, helped by gains in energy shares that got a lift from higher crude prices. *Canada's government will present its last budget ahead of the federal election in October, which is expected to include plenty of stimulus measures. *Oil prices were supported by supply cuts by OPEC members and falling output in Iran and...

  • FRANKFURT/ LONDON, March 19- Wintershall DEA's owners are expected to shortly mandate banks for a bumper 2020 stock market listing of the European oil and gas company in a sign that the deal could take place earlier than anticipated, people close to the matter said. With core earnings of 2.8 billion euros in 2017, Wintershall DEA could be valued at around 15...

  • BRUSSELS, March 19- European Commission Vice President Jyrki Katainen said on Tuesday that Washington's "selfish" approach to trade was not sustainable, but it was too early to say that EU-U.S. trade talks were doomed to fail. The Trump administration has imposed stiff tariffs on U.S. imports of steel and aluminum and set off a trade war with China in a bid to redress...

  • LONDON, March 19- Investors seem to be betting history will repeat itself, with the Federal Reserve cutting interest rates to keep the U.S. expansion going, just as it did in 1998, producing one final bull run in oil and equity markets. Prompt reductions helped to ensure the U.S. economy continued expanding for another 30 months before finally entering recession...

  • OSLO, March 19- Norsk Hydro, one of the world's largest producers of aluminum, battled on Tuesday to contain a cyber attack which hit parts of its production, sending its shares lower and aluminum prices higher. The company shut several metal extrusion plants, which transform aluminum ingots into components for car makers, builders and other industries, while its...

  • *France tells UK: give us your reasons for delay. LONDON, March 19- Prime Minister Theresa May will ask the European Union to delay Brexit by at least three months after her plans for another vote on her twice-defeated divorce deal were thrown into crisis by a surprise intervention by the speaker of parliament. Nearly three years after Britain voted to leave the EU,...

  • *At 9:30 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 20.74 points, or 0.13 percent, at 16,272.11.

  • March 19- Fox Corp debuted on the Nasdaq on Tuesday, marking a new phase for billionaire Rupert Murdoch's media business after the $71 billion sale of Twenty-First Century Fox Inc's film and television assets to Walt Disney Co.. House Speaker Paul Ryan, Chief Executive Officer of Formula One Group Chase Carey and two others to its board. Meanwhile, Disney's deal...

  • March 19- U.S. stocks opened higher on Tuesday as investors expected a more accommodative policy stance at the end of the U.S. Federal Reserve's two-day meeting this week. The Dow Jones Industrial Average rose 73.77 points, or 0.28 percent, at the open to 25,987.87.

  • BRUSSELS, March 19- European Union judges ruled on Tuesday that Italy's rescue plan for an ailing bank five years ago was legal, prompting calls for compensation for savers who subsequently faced stricter terms because Brussels had rigidly interpreted the bloc's rules. The decision could also have repercussions for the Commission's assessment of banking...

  • *EXPLAINER- Germany, at last, launches 5 G auction. MAINZ/ FRANKFURT, March 19- Germany's auction of spectrum for 5 G mobile networks drew brisk initial bidding on Tuesday with prospective new entrant 1& 1 Drillisch submitting bold offers for the frequencies it covets. Drillisch, run by maverick tycoon Ralph Dommermuth, is vying to become a fourth operator in...