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CNBC Utilities Page Wires

  • WASHINGTON, May 22- Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big players like Goldman Sachs, Morgan Stanley and JPMorgan Chase, will not be breaking out the champagne. While Wall Street banks lobbied hard for a range of provisions that would have weakened the 2010 Dodd-Frank reform...

  • BUDAPEST/ PRAGUE, May 23- Central Europe's main currencies approached multi-month lows on Wednesday as weak manufacturing data knocked the euro down further against the dollar, while the Turkish lira's persistent decline fueled risk aversion in emerging markets. Politics rarely have a direct influence on markets in the European Union's fast-growing and...

  • LONDON— A much-anticipated second-quarter economic pick-up across the 19- country eurozone does not appear to be materializing, if one closely-watched survey is anything to go by. Financial information firm IHS Markit said Wednesday that its purchasing managers' index for the eurozone— a broad gauge of business activity— fell in May to an 18- month low of 54.1...

  • LONDON, May 23- Copper fell 2 percent on Wednesday as U.S. Stock markets slid and the dollar fell against the Japanese yen- seen as a haven from risk- after Trump said he was not pleased with recent trade talks with China. *COPPER: Three-month copper on the London Metal Exchange was down 2.1 percent at $6,830 a tonne by 0931 GMT, after peaking at $6,999 on Tuesday, its...

  • LONDON, May 23- Euro zone economic growth slowed much more sharply than expected this month, a business survey showed, which along with weaker inflation has intensified concerns there will be no return to the bloc's recent boom times. While the expansion still remained relatively strong, growth slowed to a 20- month low in the bloc's largest economy, Germany, and...

  • BEIJING, May 23- China's independent oil refiners are once again using fuel oil to feed their plants as stricter tax enforcement and rising crude oil prices have squeezed their margins. These independent refiners, nicknamed teapots, buy nearly one-fifth of China's crude imports and any reduction in their crude purchases would cap demand in what is now the...

  • *Books 321 mln stg charge for store closures. LONDON, May 23- Britain's Marks& Spencer said it needed to modernize urgently to survive after a second straight annual profit fall and a 321 million pound charge for a major store closure program. In November, two months after retail veteran Archie Norman joined as chairman, M&S detailed its latest attempt at a...

  • *Books 321 mln stg charge for store closures. LONDON, May 23- Britain's Marks& Spencer said it needed to modernise urgently to survive after a second straight annual profit fall and a 321 million pound charge for a major store closure programme. In November, two months after retail veteran Archie Norman joined as chairman, M&S detailed its latest attempt at a...

  • OSAKA, Japan, May 23- Osaka Gas may sign new long-term liquefied natural gas contracts as Japan's second-biggest city gas supplier boosts its trading operations amid a shake-up in the Asian market for the fuel, a senior official said. The comment signals there may be a willing buyer of long-term supplies in Japan, where utilities have been spurning such...

  • ROME, May 23- Little-known law professor Giuseppe Conte remains Italy's prime minister candidate for the anti-establishment Five-Star Movement and far right League, Five-Star leader Luigi Di Maio said on Wednesday. Conte's candidacy hit a hurdle on Tuesday when it appeared that he had inflated some of his academic credentials. "Conte is, and absolutely...

  • LONDON, May 23- A fresh bout of geopolitical uncertainties weighed on emerging assets on Wednesday with Turkey's currency taking a fresh dive as Asian investors joined the sell-off in the lira and markets bemoaned the lack of central bank action. Having tumbled to record lows in recent weeks, Turkey's currency suffered another steep drop, falling more than 5...

  • *FTSE 100 down 0.7 pct. *Merger chatter livens up UK banks. Deal-making talk among banks spurred shares in Standard Chartered 1.5 percent higher, the second-biggest FTSE gainer, following a media report that peer Barclays was sounding out possible mergers with rival banks.

  • LONDON, May 23- Sterling fell to a new low on Wednesday after weaker-than-expected UK inflation cast doubt on whether the Bank of England will raise interest rates this year. Sterling slumped 0.6 percent after the data to $1.3347, its lowest since Dec. 21 and government bond prices rallied, pushing five-year gilt yields to their lowest since May 14.

  • PARIS, May 23- Workers at France's state-owned SNCF rail company on Wednesday resoundingly rejected President Emmanuel Macron's planned overhaul of the railways in an internal ballot organised by labour unions. Macron's government wants to create a leaner, more efficient public railway company before the monopoly in domestic passenger rail is opened to...

  • LONDON, May 23- Sterling fell to a fresh new low on Wednesday after weaker-than-expected UK inflation cast doubt on whether the Bank of England will raise interest rates this year. Sterling slumped 0.6 percent after the data to $1.3347, its lowest since Dec. 21 and government bond prices rallied, pushing five-year gilt yields to their lowest since May 14.

  • TOKYO, May 23- Japan left unchanged its assessment in May that the economy is gradually recovering, showing policymakers remain confident the economy will recover from a contraction in the first quarter. "Japan's economy is gradually recovering," the Cabinet Office said in its monthly economic report for May on Wednesday. Japan's economy ended its best run of...

  • TOKYO, May 23- Japan left unchanged its assessment in May that the economy is gradually recovering, showing policymakers remain confident the economy will recover from a contraction in the first quarter. "Japan's economy is gradually recovering," the Cabinet Office said in its monthly economic report for May on Wednesday. Japan's economy ended its best run of...

  • *Trump says not pleased by recent trade talks with China. LONDON, May 23- Investors sold equities on Wednesday and raced to buy yen and government bonds from the United States and Germany on fears that setbacks to U.S-China trade talks would undermine increasingly fragile-looking world growth. Investors were also watching Turkey and Italy, with the former...

  • While disappointing for a government that has banked on bringing high unemployment down via faster growth and tweaks to employment law, analysts suggest France may now be hampered by a wider loss of momentum across the euro zone. "The first quarter data showed a slowdown in France but actually the country's loss of inertia wasn't a one-off, it was across Europe...

  • *Japan to set new fiscal reform deadline at FY2025. TOKYO, May 23- Japan will delay its time frame for a balanced budget by five years to 2025, government and ruling party proposals show, leaving premier Shinzo Abe room to open the fiscal spigot to ease the economic blow from a sales tax hike next year. The moves underscore the challenge Japan faces in fixing its...