CNBC Utilities Page Wires

  • RIYADH, March 18- The influence of Saudi Arabia's Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows. Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which...

  • WASHINGTON, March 18- U.S. prosecutors in Detroit on Monday charged a former high-ranking United Auto Workers official in charge of the labor union's relations with Fiat Chrysler of misusing funds for lavish purchases for himself and other union officials. Norwood Jewell, who headed the UAW's FCA department from 2014 until his retirement in January 2018, was...

  • *Boeing slides on Ethiopia crash data scrutiny. March 18- U.S. stocks flitted between gains and losses on Monday, with losses in Boeing and Facebook limiting gains while investors waited for the Federal Reserve's policy meeting later this week for further clues on the pace of interest rate hikes. "A lot of it right now is just investors sitting on their hands...

  • HOUSTON, March 18- A massive fire at a fuels storage company along the Houston Ship Channel may burn for two more days, an official said on Monday as the blaze spread a plume of black smoke across the city, shutting schools in two nearby communities. The entire city of Deer Park, Texas, a Houston suburb, was told to shelter in doors all day Sunday. "It's going to be probably...

  • RIYADH, March 18- The influence of Saudi Arabia's Bin Laden family on its eponymous construction business has been curtailed in a restructuring that follows an anti-corruption crackdown by Riyadh, a document seen by Reuters shows. Saudi businessman Khalid Nahas has been named chairman of the newly-established Binladin Group Global Holding Company, which...

  • STOCKHOLM, March 18- Swedbank said on Monday that it will release the results of an external investigation into allegations of involvement in a Baltic money laundering scandal on Friday. Swedbank is one of several banks pulled into a widening scandal engulfing Danske Bank, whose Estonian branch was used for some 200 billion euros of suspicious payments...

  • March 18- Lyft Inc kicked off the investor road show for its initial public offering on Monday, targeting a valuation of up to $23 billion and seeking to woo money managers before larger ride-hailing rival Uber Technologies Inc goes public in April. The market rally of the last few years, however, coupled with the desire of some of the startups' insiders to cash out,...

  • HOUSTON, March 18- A fire at a fuels storage company along the Houston Ship Channel continued to burn on Monday, spreading to eight massive petrochemical storage tanks, shutting schools in two nearby communities. School officials in Deer Park, population 32,000, and nearby La Porte, Texas, with about 34,000 residents, suspended classes and told employees not to...

  • LONDON, March 18- Sterling dropped below $1.32 on Monday after the speaker of Britain's parliament said Prime Minister Theresa May's Brexit deal could not be voted on again unless a different proposal was submitted. The move by parliamentary speaker, John Bercow, saw the pound shed half a percent with investors saying it had hurt May's chances of getting her EU...

  • *S&P upgrades Portugal by one notch, rally gathers momentum. Standard& Poor's upgraded Portugal to BBB, allowing Portugal's 10- year bond yield to drop to its lowest in at least 25 years. "Portugal was upgraded but even more important was that Moody's didn't do anything with Italy's rating, despite ongoing headlines," said Sebastian Fellechner, rates strategist at...

  • March 18- Marriott International Inc said on Monday it plans to open more than 1,700 hotels and return up to $11 billion to shareholders by 2021 as part of its three-year growth strategy, sending its shares up as much as 3 percent. Regis luxury hotel brands also forecast its annual profit in a range of $7.65 per share to $8.50 per share by 2021, largely above...

  • WASHINGTON, March 18- U.S. prosecutors in Detroit on Monday charged a former high-ranking United Auto Workers official in charge of the union's relations with Fiat Chrysler of misusing funds for lavish purchases for himself and other union officials. Norwood Jewell, who headed the UAW's FCA department from 2014 until his retirement in January 2018, was...

  • MAINZ, Germany, March 18- Germany begins an auction of spectrum for next-generation 5 G mobile networks on Tuesday, the outcome of which will play a decisive role in determining whether Europe's largest economy remains competitive in the digital age. In the end, regulators preferred to draft tougher rules for all vendors rather than meet the U.S. demand to banish...

  • *Saudi Arabia says OPEC may need to extend oil supply cuts. NEW YORK, March 18- Oil prices edged up on Monday, supported by the prospect of prolonged OPEC- led oil supply curbs and signs of inventory declines at the delivery point for U.S. crude futures. The Organization of the Petroleum Exporting Countries and its allies met in Azerbaijan to monitor their crude...

  • JUDGE DENIES RIO TINTO MOTION TO DISMISS U.S.

  • March 18- Flooding that killed three people in Nebraska and Iowa has cut roads to a nuclear power plant and inundated a large portion of a U.S. Air Force base, forcing it to work with a skeleton staff on Monday, while more of region's residents possibly faced evacuation. The floodwaters forced the operators of the Cooper nuclear plant, near Brownville, Nebraska, to...

  • Danske Bank is under investigation in the United States, Denmark, Estonia, France and Britain over 200 billion euros in payments that were found to have flowed through its Estonian branch from Russia, former Soviet states and elsewhere between 2007 and 2015.. Since the scandal surfaced last year the bank has replaced its CEO and the chairman, pulled out of Russia...

  • WHAT WE KNOW- Boeing has stopped delivery of all new MAX jets to its customers after the crash in Ethiopia on March 10 that killed 157 people.- Satellite data gathered from the Ethiopian Airlines flight and evidence from the crash site showed similarities with a Lion Air accident in Indonesia, prompting the U.S. Federal Aviation Administration to ground all MAX...

  • PARIS, March 18- Cereal crops in the European Union are generally in decent condition after a mild winter but more rain is needed in a dry swathe of southern Europe, the EU's crop monitoring service said on Monday. However, low rainfall that accompanied the warm spell had accentuated dryness across southern Europe and in parts of central Europe following drought...

  • ALGIERS, March 18- Algeria's army should take responsibility for finding a quick solution to its political crisis, its chief of staff said on Monday, in the most overt signal of potential military intervention since mass demonstrations erupted three weeks ago. President Abdelaziz Bouteflika bowed to demonstrators last week by announcing that he had...