CNBC Utilities Page Wires

  • President Donald Trump on Wednesday praised White House efforts to remove regulations that he sees as an impediment to economic growth, saying the administration had reduced regulatory costs by $23 billion in the year ending Sept. 30. The White House said it had eliminated regulatory costs totaling $23 billion in the most recent budget year but did not...

  • *Constellation President Bill Newlands to become next CEO. Oct 17- Constellation Brands Inc's Rob Sands is stepping down as CEO, ending an era in which the family-backed alcohol producer became one of the biggest beer brewers in the United States and placed a multi-billion dollar bet on the cannabis industry. The Victor, New York- based company, one of the first...

  • Oct 17- Four major U.S. public funds that hold shares in Facebook Inc on Wednesday proposed removing Chief Executive Officer Mark Zuckerberg as chairman following several high-profile scandals and said they hoped to gain backing from larger asset managers. State treasurers from Illinois, Rhode Island and Pennsylvania, and New York City Comptroller Scott...

  • WASHINGTON, Oct 17- The United States plans to turn up sanctions pressure on Venezuela but sees less need to immediately target its energy sector, given sagging production from the OPEC member's state-run oil company, a senior U.S. administration official said on Wednesday. The U.S. government has imposed several rounds of sanctions on Venezuelan military and...

  • CHICAGO, Oct 17- U.S. soybean futures firmed modestly on Wednesday in largely technical trade along with fund-driven buying and strength in allied soymeal futures, analysts said. Chicago Board of Trade November soybean futures settled up 1 cent at $8.85-3/ 4 per bushel but stayed below a two-month high set Monday at $8.92. CBOT December corn ended down 1 cent at...

  • WASHINGTON, Oct 17- The Senate Commerce Committee's Republican chairman and ranking Democrat said on Wednesday they had asked top U.S. executives at Hyundai Motor Co and Kia Motors Corp to testify at a Nov. 14 hearing on reports of engine fires involving vehicles from the Korean automakers. Hyundai said in a statement it had received the request to appear "and is...

  • On Nov. 6, Americans will vote for candidates for the Senate and the House of Representatives. Democrats will try to wrest control in races for all 435 House seats and one-third of the 100 Senate seats. Despite their dominance of Congress and the White House, Republicans dramatically failed last year to overturn former President Barack Obama's signature...

  • Oct 17- Corona beer maker Constellation Brands said on Wednesday its Chief Executive Officer Rob Sands will step down in March and be replaced by the company's President Bill Newlands. Rob Sands led Constellation through some of its most transformative years, which saw the acquisition of the U.S. distribution rights for Mexican-made Corona beer in 2013 and...

  • Oct 17- Corona beer maker Constellation Brands' Chief Executive Officer Rob Sands will step down in March and be replaced by the company's President Bill Newlands, the Wall Street Journal reported on Wednesday. Sands led Constellation through some of its most transformative years, which saw the acquisition of the U.S. distribution rights for Mexican-made...

  • Shares of Alcoa rose 3 percent to $37.79 in after-hours trading, also helped by the announcement of a $200 million share repurchase program. Alcoa also tightened its 2018 adjusted earnings before interest, tax, depreciation and amortization forecast to range between $3.1 billion and $3.2 billion, compared with its previous forecast of $3.0 billion and $3.2...

  • NEW YORK Oct 17- Wall Street's major indexes edged lower after a choppy session on Wednesday after the Federal Reserve showed broad agreement on the need to raise borrowing costs further, cementing investor concerns that had helped cause a major sell-off the week before. The S&P 500 zigzagged furiously between positive and negative territory after the 2 p.m....

  • high@ Oct 17- A strong dollar, bolstered by the prospect of another U.S. rate hike this year, hit most Latin American currencies except Brazil's real, which hit its highest level since May. Runaway inflation has led to Argentina to hike benchmark interest rates dramatically- first to 45 percent, then to 60 percent- pushing its economy into recession and prompting it...

  • Net loss attributable to Alcoa was $41 million, or 22 cents per share, in the third quarter ended Sept. 30, compared with a profit of $113 million, or 60 cents per share, a year earlier. The results include a charge of $160 million mainly due to a non-cash charge from the transfer of its U.S. pension and postemployment benefits obligations. Revenue rose 14.4 percent to...

  • NEW YORK, Oct 17- Oil prices fell on Wednesday, with U.S. futures settling below $70 a barrel for the first time in a month, after U.S. crude stockpiles rose 6.5 million barrels, almost triple what analysts had forecast, while exports dropped. Oil had been rising this week on worries about Iranian sanctions and tensions between the United States and Saudi Arabia after...

  • Oct 17- Federal Reserve policymakers are largely united on the need to raise borrowing costs further, minutes from their most recent policy meeting show, despite U.S. Every Fed policymaker backed the central bank's September decision to raise the target policy rate to between 2 percent and 2.25 percent, according to minutes of the Sept. 25-26 meeting, published...

  • The Swedish truckmaker said it could face material costs to deal with the issue largely affecting trucks and buses sold in North America and Europe, its two largest markets, and that it was working with authorities to find a solution. The EPA, in an emailed statement, told Reuters on Wednesday that the agency was aware of the situation, which it said involved Volvo...

  • CHICAGO, Oct 17- Chicago Mayor Rahm Emanuel unveiled the final budget of his tenure on Wednesday, but put off addressing a pension funding challenge that will hit during his eventual successor's term in office. Chicago's unfunded pension liability was $28 billion in 2017, down from $35.7 billion in the prior year. Carole Brown, Chicago's chief financial...

  • WASHINGTON, Oct 17- The United States can extend a longer line of credit to Mexico if the country faces a currency crisis, according to the terms of a new agreement signed on Wednesday that follows the two countries' trade deal. Mexico can negotiate for up to $9 billion under a currency "swap line" with the U.S. Treasury Department, up from $3 billion under a deal last...

  • Spot gold was down 0.1 percent at $1,222.56 per ounce at 3:09 p.m. EDT. U.S. gold futures settled down $3.6, or 0.29 percent, at $1,227.4 an ounce. Higher rates mean lower gold, typically, "said Bob Haberkorn, senior market strategist at RJO Futures.

  • NEW YORK, Oct 17- U.S. Shorter-dated yields ticked up a bit more than longer-dated yields after the release of the Fed Sept. 25-26 minutes, briefly flattening the yield curve. More officials are happy to move past neutral, "said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott in Philadelphia.