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CNBC Utilities Page Wires

  • FRANKFURT, Germany— Investors are waiting to hear what the European Central Bank's president, Mario Draghi, makes of recent conflicting data about where Europe's economy is headed. Draghi holds a news conference Thursday after a meeting of the bank's 25- member rate-setting committee. The betting is that the bank will put off such clues until the June 14 or July...

  • NEW YORK, April 26- Smaller independent refiners with less complex facilities are surging in the stock market of late, as investors expect strong earnings growth thanks to the recent fall in price of their primary cost- light, sweet crude oil coming out of West Texas. Recent trends have turbocharged this shift: full pipelines in West Texas, where light U.S. oil...

  • NEW YORK, April 26- Demand to ship fuel on Colonial Pipeline's Line 2, its main distillate line, has dropped to about a six-month low as rising Gulf Coast exports have kept barrels from being sent through the pipeline to other U.S. regions, traders said. Colonial, the largest fuel pipeline system in the United States, functions as the primary artery carrying about 3...

  • There are nearly a dozen pending investigations into Pruitt with the EPA inspector general, the Government Accountability Office and the White House Office of Management and Budget, as well as the U.S. House of Representatives oversight committee. Recent findings by the GAO, which said the EPA violated the law by installing a $43,000 "privacy booth" in Pruitt's...

  • On Wednesday at the CinemaCon convention in Las Vegas, studio chairman and CEO Jim Gianopulos announced a sequel to the breakthrough thriller "A Quiet Place," two new Star Trek movies and trotted out its biggest star, Tom Cruise, to dazzle the audience of theater owners and exhibitors with stories of his death defying stunts in "Mission: Impossible— Fallout."

  • SHANGHAI, April 26- China's yuan shook off a much weaker official midpoint and clawed back from a one-month low against the dollar on Thursday as the greenback paused after its recent rally. Prior to the market opening, the People's Bank of China set the midpoint rate at 6.3283 per dollar, the weakest level since March 21 and 217 pips or 0.34 percent weaker than the...

  • SHANGHAI— Walt Disney Co. executives are emphasizing their Chinese connections as they launch an extension of the $5.5 billion Disney Resort in Shanghai amid rising trade tensions and threats of punishing tariffs from both Washington and Beijing. Bob Weis, a top Disney executive, says most of the labor and materials that went into the new Toy Story Land are...

  • *This will be Bain's fourth and biggest pan- Asia fund. HONG KONG, April 26- Global private equity firm Bain Capital LLC is targeting up to $4 billion for a new Asia- focused fund, a person with direct knowledge of the matter said, adding yet more dry powder to the region that has enjoyed a two-year fundraising bonanza. A total of 342 funds raised a combined $107 billion in...

  • *Comes amid Sino-US trade tension, China auto market deregulation. BEIJING/ SHANGHAI, April 26- China is considering cutting the import duty on passenger cars by about half as part of the country's plan to further open up the automobile market, Bloomberg News reported on Thursday, citing people familiar with the matter. China's cabinet is weighing proposals to...

  • *HK-> Shanghai Connect daily quota used 3.1 pct, Shanghai-> HK daily quota used 0 pct. SHANGHAI, April 26- China and Hong Kong stocks dropped on Thursday, as technology shares were under pressure amid Huawei probe. **U.S. prosecutors in New York have been investigating whether Chinese technology company Huawei violated U.S. sanctions in relation to Iran, according to...

  • WASHINGTON— Environmental Protection Agency chief Scott Pruitt faces potentially make-or-break hearings Thursday on Capitol Hill, where he is expected to be peppered with questions about spending and ethics scandals that have triggered bipartisan calls for his ouster. President Donald Trump has continued to stand by his EPA chief, but behind closed...

  • KEEPING SCORE: Japan's benchmark Nikkei 225 index climbed 0.5 percent to 22,315.79 and South Korea's Kospi jumped 1.3 percent to 2,481.70 after Samsung reported better than expected earnings. EARNINGS: South Korea's Samsung Electronics reported its net income grew 52 percent in the first quarter on robust demand for its memory chips.

  • *Wheat up for 3rd session, rises to highest since April 7. SINGAPORE, April 26- Chicago wheat futures rose for a third consecutive session on Thursday to hit a seven-week high, with prices underpinned by short-covering and adverse weather that is curbing U.S. winter crop yields. The Chicago Board of Trade most-active wheat contract rose 0.9 percent to $5.03-1/ 4 a...

  • CONKLIN, N.Y.— A newly opened Dick's Sporting Goods distribution center in New York's Southern Tier is planning an expansion that will add an internet sales fulfillment center. Andrew Cuomo announced Wednesday that the Coraopolis, Pennsylvania- based sporting goods retailer will build a 245,000- square-foot addition on its facility in the Broome County...

  • SAN FRANCISCO, April 25- Qualcomm Inc's earnings call on Wednesday showed just how far the company is willing to go to preserve one of its core business practices of taking a cut of the selling price of phones. The San Diego- based chipmaker posted quarterly profit and revenue that topped Wall Street forecasts, suggesting that a slowdown in the global smartphone...

  • *Q1 op profit $14.4 bln, tops Q4 as highest-ever. SEOUL, April 26- Samsung Electronics Co Ltd said weakness in the global smartphone market would slow earnings growth, as it reported record quarterly profit on Thursday thanks to strong demand for semiconductors used in servers. "Shares are rising as Samsung Electronics' outlook for its memory chip business...

  • at 0351 GMT, after falling by as much as 0.9 percent to $1,318.51 in the previous session, its lowest since March 21. "Gold prices are lower because of the stronger dollar," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. "At these low levels the market could now attract some physical buying interest... the market has a very good support at around...

  • BEIJING, April 26- China is considering cutting the import duty on passenger cars by about half as part of the countrys plan to further open up the automobile market, Bloomberg News reported on Thursday, citing people familiar with the matter. China's cabinet is weighing proposals to reduce the levy on imported cars to 10 percent or 15 percent from the current 25...

  • WASHINGTON, April 26- The head of the U.S. derivatives watchdog on Thursday said he would like to allow more flexibility in the way swaps are traded while at the same time tightening requirements for reporting of such trades. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, said he fully supported swaps regulation introduced...

  • TOKYO, April 26- Japanese automakers that rely heavily on exports to sell their models in the United States would be hardest hit by trade restrictions the country is threatening to impose, as rivals with more limited exposure focus on growing, niche markets. Many Japanese automakers count the United States as their biggest market, so would be impacted to a degree...