CNBC Utilities Page Wires

  • *Q3 contraction is first since Q1 2015. BERLIN, Nov 14- The German economy contracted for the first time since 2015 in the third quarter as global trade disputes swung the traditional export growth engine of Europe's largest economy into reverse, raising concerns that a near-decade-long expansion is faltering. Gross domestic product in Europe's biggest...

  • *Japan, German economies contracted in Q3. West Texas Intermediate crude oil futures were at $55.52 per barrel at 0732 GMT, down 17 cents, or 0.3 percent, from their last settlement. "Crude oil futures succumbed to overwhelmingly bearish pressure amidst... weaker market fundamentals," said Benjamin Lu, analyst at brokerage Phillip Futures in Singapore.

  • *Spot gold may bounce to $1,211/ oz- technicals. Spot gold rose 0.1 percent to $1,202.85 per ounce at 0657 GMT. Prices had slipped to their lowest level since Oct. 11 at $1,195.90 in the previous session.

  • BERLIN, Nov 14- The German economy contracted in the third quarter of this year for the first time since 2015 as global trade disputes swung the traditional export growth engine of Europe's largest economy into reverse. Gross domestic product in Europe's biggest economy contracted by 0.2 percent quarter-on-quarter, the Federal Statistics Office said on...

  • TOKYO, Nov 14- Japan's Nikkei ended higher in choppy trade on Wednesday as short-covering in electronics component makers and tech shares helped offset weakness in resource stocks dragged down by falling oil prices. "The market's major concerns are oil price moves and development in U.S.- China trade war, and these factors will likely determine stocks'...

  • BERLIN, Nov 14- German Chancellor Angela Merkel said a European Union digital tax would be proposed at a meeting of EU finance ministers in December at the latest. France has long been the main supporter of the tax but has grown increasingly frustrated with German hesitation over the details after Berlin agreed in principle to the idea in June.

  • GENEVA, Nov 14- Iran executed two men accused of economic crimes on Wednesday, part of an effort to stem financial misconduct as the country faces an economic crisis and new U.S. sanctions targeting its oil sector. Mazloumin was allegedly caught with two tons of gold coins, according to the Iranian Students News Agency. In August, the United States reimposed a first...

  • TOKYO, Nov 14- Oil prices extended a steep slide on Wednesday on the back of worries about weakening world demand and oversupply, while global shares sagged as energy sector strains heightened anxiety about a slow down in the global economy. Spreadbetters expected European stocks to open lower, with Britain's FTSE losing 0.4 percent, Germany's DAX slipping 0.3...

  • SINGAPORE, Nov 14- Oil markets fell again on Wednesday, extending losses from a 7 percent plunge the previous session as surging supply and the spectre of faltering demand scared off investors. West Texas Intermediate crude oil futures were at $55.26 per barrel at 0600 GMT, down 43 cents, or 0.8 percent, from their last settlement. Reuters' technical commodity...

  • HONG KONG, Nov 14- The Chinese yuan steadied on Wednesday thanks to signs of easing trade tensions between Beijing and Washington, though traders were cautious about the local currency's outlook in the face of rising economic headwinds. The White House confirmed on Tuesday that it is resuming trade talks with Beijing after local media had earlier reported...

  • ABU DHABI, Nov 14- Abu Dhabi National Oil Co will remain wholly owned by the Abu Dhabi government and has no plan to go public, but the firm aspires to compete with Big Oil by expanding in refining and gas, ADNOC's CEO told Reuters. "ADNOC will continue to be wholly owned by one and only one shareholder, and that is the Abu Dhabi government," al-Jaber said.

  • *Operating procedures, training could change- FAA. WASHINGTON/ SEATTLE, Nov 13- The U.S. Federal Aviation Administration and Boeing Co are evaluating the need for software or design changes to 737 MAX jets in the wake of last month's deadly Lion Air crash in Indonesia, the regulator said on Tuesday. Operating procedures and training for the 737 MAX could also change...

  • *Jan-Oct fixed-asset investment +5.7 pct y/y. BEIJING, Nov 14- China delivered a mixed economic report card for October on Wednesday as softening retail sales pointed to a consumption slowdown, even as a pick-up in industrial output and investment suggested support measures may be starting to take hold. GDP growth in the fourth quarter could dip below 6.5...

  • *USDA pegs soybean harvest behind market expectations. "The USDA report on harvest pace is driving the market today," said a Melbourne- based grains trader, who declined to be named as he is not authorized to talk to the media. The USDA said 88 percent of the soybean harvest is complete and 84 percent of corn has been harvested, both lagging analysts' forecasts.

  • The report from the U.S. China Economic and Security Review Commission has been complied almost every year since 2002 by a group tasked with monitoring the national security implications of U.S.- China trade relations. This year's edition said that China's efforts to finance bridges and even digital networks in Asia, Africa, the Middle East and Europe have...

  • SHANGHAI, Nov 14- Chinese copper smelters are looking to make more investments in mines, pushing to shore up supply of concentrate at a time when competition for the raw material is heating up, industry executives said on Wednesday. China is the world's biggest consumer of the metal but its own copper mine production has been stagnating amid a broad crackdown on...

  • *China& India car sales: https://tmsnrt.rs/2DkWvPW. But with unexpectedly broad exemptions granted by Washington that allow Asia's main oil consumers to continue buying crude from Iran, the overall supply drop has not materialised. That surge has so far been met by healthy demand, not only in Asia's main emerging economies of China and India, but also in the...

  • **China's blue-chip CSI300 index was down 0.14 percent, with its financial sector sub-index lower by 0.16 percent and the healthcare sub-index down 0.09 percent. **China's credit growth slowed sharply in October, despite pressure by regulators on banks to help keep cash-starved companies afloat, pointing to further weakening in the economy.

  • HONG KONG, Nov 14- Cathay Pacific Airways said on Wednesday it is working with 27 regulators in 15 jurisdictions to investigate a data breach that affected millions of passengers, as Hong Kong lawmakers grilled executives over how it handled the incident. The executives did not answer repeated questions about whether the airline would compensate all...

  • *Sterling erases most of its losses from last two sessions. *Dollar index trades below a 16- month high hit on Monday. SINGAPORE, Nov 14- The euro and sterling climbed higher on Wednesday as investor confidence rose on news Britain had struck a draft divorce deal with the European Union after more than a year of talks.