CNBC Utilities Page Wires

  • *Mixed signals on U.S.- China trade progress jangle nerves. LONDON, March 20- Oil prices fell on Wednesday, dragged down by concerns about global economic growth as the U.S.- China trade dispute rumbled on, but receiving some support from tightened supply. An eight-month trade war between China and the United States has worried global markets already concerned...

  • Workers at its Remuda lease near Carlsbad- part of a staff of 5,000 spread across New Mexico and Texas- are drilling wells, operating fleets of hydraulic pumps and digging trenches for pipelines. The sprawling site reflects the massive commitment to the Permian Basin by oil majors, who have spent an estimated $10 billion buying acreage in the top U.S. shale field...

  • *Poland releases robust industrial output figures. BUDAPEST, March 20- The forint set 11- month highs on Wednesday due to expectations for dovish comments from the Federal Reserve later in the day and monetary tightening by the Hungarian central bank next week. The forint traded at 312.7 against the euro at 0947 GMT, near an intraday- and 11- month high of 312.65,...

  • NEW DELHI, March 20- State Bank of India's head told reporters on Wednesday that putting Jet Airways into bankruptcy is the "last option" for lenders and that they are making every effort to keep the airline flying. "We believe that it is in everybody's interest that Jet Airways continues to fly," the SBI chairman, Rajnish Kumar, told reporters after a meeting with...

  • HOUSTON, March 19- Firefighters on Wednesday extinguished a fire at a Mitsui& Co petrochemical storage site outside Houston that has been billowing acrid smoke for days, the company said. The blaze at Mitsui unit Intercontinental Terminals Co in Deer Park, Texas, was put out by 3 a.m., but fire crews continued to spray foam and water on the tanks to help keep them cool...

  • *London house prices drop at fastest rate since 2009. LONDON, March 20- Britain's main inflation rate ticked up last month but stayed close to January's two-year low, helping consumers maintain their spending power as wage growth also picked up, even though the timing of Brexit remained uncertain. Wednesday's official data also showed house prices rose at the...

  • *Italy might get go-ahead to issue "Panda" bonds. ROME, March 20- Italy is looking to build on its economic and commercial ties with China by becoming the first Group of Seven major industrialised nation to borrow in the Chinese $12- trillion bond market, sources said. Chinese President Xi Jinping is due to visit Rome this week and is expected to sign a preliminary...

  • STATE BANK OF INDIA CHIEF SAYS DECISION ON JET AIRWAYS TAKEN IN COMMERCIAL INTEREST, NO DIRECTION FROM GOVERNMENT.

  • STATE BANK OF INDIA SAYS PLACING JET AIRWAYS UNDER THE BANKRUPTCY PROCESS IS THE "LAST OPTION".

  • LONDON, March 20- Shares in Inmarsat Plc jumped 17 percent on Wednesday after the British satellite operator said it was in talks about a $3.3 billion cash offer from a private equity-led consortium, opening up the possibility of a bidding war. The consortium, which initially included UK- based Apax Partners, U.S.-based Warburg Pincus and Canada Pension Plan...

  • ZURICH, March 20- Swiss bank UBS is cutting an extra $300 million from 2019 costs after investment banking revenues plunged and wealth management remained under pressure in the first quarter, its chief executive told a conference in London on Wednesday. Calling investment banking conditions among the toughest seen in years, especially outside the United...

  • *FTSE 100 up 0.1 pct. March 20- A weaker pound amid growing Brexit concerns offset a selloff in blue-chip miners and lifted the exporter-heavy FTSE 100 on Wednesday, while satellite operator Inmarsat surged on a $3.3 billion takeover approach. The FTSE 100 shrugged off initial losses to edge 0.1 percent higher, up for an eighth straight session, and the FTSE 250 was...

  • NAGOYA, March 20- Toyota Motor Corp and Suzuki Motor Corp on Wednesday said they planned to produce electric vehicles and compact cars for each other to better compete with fast-changing technologies in the global auto industry. The agreement builds on a partnership between the two Japanese companies announced in 2017 under which Toyota is helping Suzuki to...

  • TOKYO, March 20- Japanese refiners will unlikely continue to import oil from Iran from April unless Japan gets a sanctions waivers extension from the U.S. government, Takashi Tsukioka, president of the Petroleum Association of Japan, said on Wednesday. Japanese officials and their U.S. counterparts met last week in Washington to discuss the U.S. sanctions on...

  • *Shares down 3.2 pct at 0945 GMT. LONDON, March 20- Home improvement retailer Kingfisher is parting company with Chief Executive Véronique Laury after it reported a 13 percent fall in annual profit, more than halfway through a five-year transformation plan designed to lift earnings. The company, whose main businesses are B&Q and Screwfix in Britain and...

  • *35,000 jobs expected, $32 billion GDP contribution. RIYADH, March 20- Saudi Arabia is targeting up to $20 billion of investments through 2035 for a planned landmark tourism destination and will hold a global investor roadshow before the end of the year, the head of the project told Reuters. Amr Madani, chief executive of the Royal Commission for al-Ula, said in an...

  • YOKOHAMA, Japan, March 20- In September 2007, despite weighty responsibilities at the helm of Nissan Motor Co and alliance partner Renault SA, Carlos Ghosn found time to get involved in a seemingly straightforward business decision. Two days before Nissan's executive committee was due to formalise the choice of a company called TVS as a partner for sales and...

  • OSLO, March 20- Norsk Hydro, one of the world's largest aluminium producers, has made some progress in restoring operations but is not yet back to normal after a ransomware cyber attack, the company said on Wednesday. After the attack began late on Monday, the company had to shut several plants that transform aluminium ingots into components for car makers,...

  • Spot palladium was down 0.3 percent at $1,591.50 an ounce, as of 0908 GMT, after hitting an all-time high of $1,606.76 earlier in the session. Platinum was 1.3 percent firmer at $856.75 an ounce, after touching its highest since March 4 at $858.64 earlier in the session. "Palladium market is definitely driven by constraints on the supply side and the possibility of...