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CNBC Utilities Page Wires

  • LONDON, April 25- Costa Coffee will be spun off as an independent business after owner Whitbread yielded to pressure from hedge fund investors who saw value in breaking up a group that also runs the Premier Inn hotel chain. The move will leave former brewing group Whitbread with its Premier Inn hotels and Beefeater and Brewers Fayre restaurants once the split is...

  • *To spend more than the extra 500 mln stg initially planned. *Competition picking up in a fast-changing vaping market. April 25- British American Tobacco is raising its investment in new vaping devices again, as Big Tobacco reacts to new competitors such as fast-growing U.S. group Juul.

  • *Brent forward prices are above $70/ bbl until end of 2018. *OPEC- led cuts, political risk, strong demand have lifted oil. Brent crude oil futures were last up 12 cents at $73.98 a barrel at 0937 GMT, some 2 percent below the November-2014 high of $75.47 reached on Tuesday.

  • *Combined tower firm to be called Indus Towers, to remain listed. BENGALURU/ MUMBAI, April 25- India's Bharti Infratel Ltd said it has agreed to merge with Indus Towers, in a deal that creates the world's No. 2 telecom tower company with an estimated equity value of $14.6 billion. Seeking to capitalise on rapid growth in smartphone usage in the country, the transaction,...

  • Should the German government select the Boeing H-47 Chinook, the local companies will offer maintenance and training, Michael Hostetter, director, Vertical Lift Programs in Germany, said at a press conference at the Berlin ILA air show. The Chinook has already been selected by the Netherlands, Italy, Greece, Spain, Turkey, Britain, and Canada, and Boeing said it had...

  • LONDON— Japanese drugmaker Takeda has reached a tentative agreement to buy Ireland- based Shire Plc for 46 billion pounds in one of the biggest pharma deals to date. Shire says its shareholders would own about 50 percent of the merged company, whose shares will trade in Japan and the United States. Both companies have until May 8 to complete due diligence.

  • JAKARTA, April 25- When Pertamina's former chief executive, Elia Massa Manik, was fired on Friday, he became the state energy company's shortest-serving boss in more than a decade. While the government wants the company to improve profits by reviving Indonesia's flagging oil output and building refineries to cut record fuel imports, it also wants Pertamina to...

  • JAKARTA, April 25- When Pertamina's former chief executive, Elia Massa Manik, was fired on Friday, he became the state energy company's shortest-serving boss in more than a decade. While the government wants the company to improve profits by reviving Indonesia's flagging oil output and building refineries to cut record fuel imports, it also wants Pertamina to...

  • *Japan already accounts for only 30 percent of Takeda's drug sales. TOKYO, April 25- Takeda Pharmaceutical Co Ltd's $64 billion bid for London- listed rare disease specialist Shire Plc bolsters its credentials as Japan's most outward facing drugs firm, a mould-breaking image that has been more than a decade in the making. Under chief executive Christophe Weber...

  • LONDON, April 25- European shares declined on Wednesday in early deals as worries over rising bond yields trumped a slew of well-received earnings updates from Kering and Credit Suisse, while Shire slipped after accepting an improved offer from Takeda. The pan-European STOXX 600 index was down 0.9 percent at 0907 GMT, pulling further away from its highest...

  • BEIJING, April 25- China's central bank said its prudent and neutral monetary policy will remain unchanged after it cuts the cash banks must hold as reserves on Wednesday, a move allowing lenders to pay back loans obtained via its medium-term lending facility.

  • Stocks in Asia racked up hefty losses with Hong Kong closing 1 percent lower while bourses from Russia to South Africa traded well into the red. Carry currencies elsewhere also suffered, with South Africa's rand weakening nearly 1 percent to its lowest since mid-January while Russia's rouble fell 0.2 percent, with oil prices holding their ground cushioning...

  • STAVANGER, Norway _ Statoil ASA on Wednesday reported first-quarter net income of $1.29 billion. The Stavanger, Norway- based company said it had net income of 39 cents per share. Statoil shares have increased 18 percent since the beginning of the year.

  • TEL AVIV, Israel _ Check Point Software Technologies Ltd. on Wednesday reported first-quarter net income of $187.1 million. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share. Ten analysts surveyed by Zacks expected $452.7 million.

  • *FTSE 100 down 0.5 pct. LONDON, April 25- The prospect of a £64 billion bid for British drug maker Shire failed to lift the UK stock market on Wednesday as worries about rising U.S. bond yields continue to drag global markets down. Britain's blue chip FTSE 100 index was down 0.55 percent at 7,383.83 points by 0836 GMT while the broader European market also declined...

  • *Says will miss $63 mln savings target. *Now expects market supply deficit. OSLO, April 25- Norsk Hydro will miss its cost-cutting target this year and faces possible writedowns as its Brazilian operations work at reduced capacity following a spill, the Norwegian aluminium producer said on Wednesday.

  • BEIJING, April 25- China will launch a real estate investment trust pilot programme and promote all types of securitisation products with debt-like characteristics, the housing ministry said on Wednesday.

  • BEIJING, April 25- China will launch a real estate investment trust pilot program and promote all types of securitisation products with debt-like characteristics, the housing ministry said on Wednesday.

  • *Stocks mostly ease, but Bucharest. BUDAPEST/ WARSAW, April 25- Central European currencies and long-term government bonds traded near this month's weakest levels on Wednesday after the U.S. 10- year Treasury yield broke through the 3- percent level. Investors have closely watched the past few weeks' rally in yields in the United States and in the euro zone, as...

  • TOKYO/ BERLIN, April 25- In a fresh bid to win its first major foreign arms deal since World War Two, Japan is proposing its P-1 submarine hunter for a French-German project to develop a marine surveillance aircraft, two Japanese government sources said. Japanese officials also asked Kawasaki Heavy Industries, which makes the P-1, to discuss possible...