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CNBC Utilities Page Wires

  • *Goldilocks fund files lawsuits in Singapore. SINGAPORE, April 26- Goldilocks Investment Co. Ltd, a dissident shareholder of Noble Group Ltd, filed a lawsuit in Singapore on Wednesday against the commodities trader, seeking to prevent Noble from pursuing a debt restructuring. "Goldilocks Investment Company Ltd has filed legal action today in light of the...

  • RIO DE JANEIRO, April 25- Vale SA, the world's largest iron ore producer, posted a 36 percent slump in first-quarter profit compared to the same quarter a year earlier, missing estimates, as iron ore prices slipped despite record sales, results showed Wednesday. In a securities filing, Brazil's Vale said quarterly net income totaled $1.59 billion, below a consensus...

  • 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...

  • BEIJING, April 26- China's commerce ministry said on Thursday that the United States should abandon trade unilateralism and adopt a consultative approach via dialogue. If the "wrong actions" taken by the U.S. were left unchecked, the authority of the world's multilateral trade system will be harmed, commerce ministry spokesman Gao Feng told reporters at a...

  • BEIJING, April 26- China's commerce ministry said on Thursday that the United States should abandon trade unilateralism and adopt a consultative approach via dialog. If the "wrong actions" taken by the U.S. were left unchecked, the authority of the world's multilateral trade system will be harmed, commerce ministry spokesman Gao Feng told reporters at a regular...

  • BEIJING, April 26- London aluminum slipped 1.3 percent lower on Thursday, after snapping a four-day losing streak in the previous session, as the deadline extension to comply with U.S. sanctions on Rusal, one of the world's biggest aluminum producers, pulled down prices. *ZINC: Shanghai zinc was the biggest loser in the base metals complex, falling 2.8 percent to...

  • BEIJING, April 26- London aluminium slipped 1.3 percent lower on Thursday, after snapping a four-day losing streak in the previous session, as the deadline extension to comply with U.S. sanctions on Rusal, one of the world's biggest aluminium producers, pulled down prices. *ZINC: Shanghai zinc was the biggest loser in the base metals complex, falling 2.8 percent to...

  • SEOUL, April 26- Unionized workers at General Motors Co's South Korean unit voted to approve a tentative wage deal agreed with the automaker, the union said on Thursday. On Monday, the Detroit carmaker's South Korean unit reached a preliminary deal with its local labour union, winning concessions on pay and bonuses. That led the company to drop a plan to consider...

  • SEOUL, April 26- General Motors Co's president said on Thursday that it was very close to a resolution to fix its ailing South Korean unit. "Over the last few months, over the last few weeks a lot of very good progress has been made," GM President Dan Ammann said in a meeting with South Korean ruling party lawmakers. On Monday, the Detroit carmaker reached a preliminary...

  • SHANGHAI/ BEIJING/ HONG KONG, April 26- Chinese real estate companies have found a new tool to raise money- selling units in real estate investment trusts backed by rental apartments. In March, for example, Poly Real Estate Group raised 1.7 billion yuan issuing REITs with an indicated annual yield of 5.5 percent for the senior tranche of the securities.

  • SINGAPORE, April 26- Oil prices rose on Thursday, supported by an expectation that the United States will re-impose sanctions against Iran, a decline in output in Venezuela and ongoing strong demand. Traders said markets rose on expectations that the United States will in May re-impose sanctions against Iran, a major oil producer and member of the Organization...

  • SEOUL, April 26- South Korea's economy bounced back last quarter, buoyed by booming exports of data memory chips and a boost from government spending, although private consumption was sluggish. Samsung Electronics, South Korea's world-leading tech exporter, posted a record quarterly profit of 11.6 trillion South Korean won on Thursday thanks to booming...

  • *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...

  • *Spot gold was little changed at $1,323.34 per ounce at 0101 GMT. The yellow metal on Wednesday hit a low of $1,318.51 an ounce, its lowest since March 21. *The European Central Bank is set to keep policy unchanged on Thursday, playing down worries over recent softness in the euro zone economy and leaving the door open to ending its lavish bond purchase scheme by the...

  • *Goldilocks fund files lawsuits in Singapore. SINGAPORE, April 26- Goldilocks Investment Co. Ltd, a dissident shareholder of Noble Group Ltd, filed a lawsuit in Singapore on Wednesday against the commodities trader, seeking to prevent Noble from pursuing a debt restructuring. "Goldilocks Investment Company Ltd has filed legal action today in light of the...

  • SINGAPORE, April 26- Oil prices rose on Thursday, lifted by concerns over supply disruptions in Venezuela and the Middle East as well as by strong demand. Oil output in Venezuela, a member of the Organization of the Petroleum Exporting Countries, has fallen from almost 2.5 million barrels per day to just around 1.5 million bpd currently due to political and...

  • SINGAPORE, April 26- The dollar traded near a 3-1/ 2 month high against a basket of currencies on Thursday, bolstered by higher U.S. The recent jump in U.S. bond yields has caused U.S.- Japan and U.S.-German yield differentials to widen further in the dollar's favor, leaving the yen and the euro lower. The dollar's index against a basket of six major currencies was at...

  • SINGAPORE, April 26- Chicago wheat futures rose for a third consecutive session on Thursday to a near seven-week high, with prices underpinned by short-covering and adverse weather that is curbing U.S. winter crop yields. In Iowa, typically the largest producer, farmers had seeded none of their intended corn acreage as of April 23, according to data from the U.S....

  • WASHINGTON, April 25- Canadian Foreign Minister Chrystia Freeland said on Wednesday that good progress has been made at the NAFTA trade talks on the key issue of auto rules, though the threat of proposed U.S. steel and aluminum tariffs coming into force next week clouded the mood. Trade Representative Robert Lighthizer and Mexican Economy Minister Ildefonso...

  • TOKYO, April 26- Japanese Prime Minister Shinzo Abe said on Thursday that he was "not considering at all" calling a general election now, while pledging to do the utmost to clarify facts over scandals including document alterations related to a controversial sale of public land.