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CNBC Utilities Page Wires

  • July 23- The Canadian dollar was little changed against the greenback on Monday on bets of solid domestic economic growth, while Canadian yields climbed in step with other major sovereign yields in the wake of a Reuters report that said the Bank of Japan is debating whether to scale back its easy monetary policy. Higher oil prices due to tension between Iran and...

  • PARIS, July 23- Michelin posted higher profit for the first half, the French carmaker said on Monday, as lower borrowing costs and U.S. tax helped offset exchange-rate setbacks. Operating profit also fell 4.7 percent to 1.327 billion euros as a weaker U.S. dollar hurt revenues and wiped 218 million euros from January-June earnings. Lower financing and pension...

  • Mehul Choksi, who is accused of defrauding Punjab National Bank of $2 billion along with his nephew, diamond tycoon Nirav Modi, fled India before the accusations came to light and said in Monday's application that he could not disclose his location in public because of the threat to his life. The recent trend of "mob lynching is growing", Choksi's lawyer said in the...

  • LONDON, July 23- Around 40 rig workers started a 24- hour strike on Monday on the Alwyn, Elgin and Dunbar platforms in the British North Sea, curbing gas flows to shore, but stored crude was expected to mitigate any oil supply disruption. The platforms halted production at 0500 GMT, said Unite, Britain's largest labour union. The fields account for about 10 percent of...

  • *Trump's comment on Iran spurs safe-haven bid for yen. NEW YORK, July 23- The yen strengthened broadly on Monday following a Reuters report that the Bank of Japan was debating moves to scale back its massive monetary stimulus, spurring bids for the Japanese currency. "The market may be too complacent that the BOJ would be in this easy policy mode forever," said Omer...

  • LONDON, July 23- Germany's 10- year bond yield rose to its highest level in just over a month on Monday, following a jump in Japanese government bond yields on reports that the Bank of Japan was debating moves to scale back its massive monetary stimulus. Japan's 10- year yield rose to a six-month high at 0.090 percent after sources told Reuters on Friday the BOJ was...

  • DUBAI, July 23- JPMorgan and Morgan Stanley have been picked to advise on Saudi Aramco's plan to buy a controlling stake in petrochemical maker SABIC, several sources familiar with the matter said. Aramco aims to buy such a stake, possibly taking the entire 70 percent holding owned by Saudi Arabia's sovereign wealth fund, two of the sources familiar with the...

  • That hot lunch delivered to your door? Your health insurer might pick up the tab. The cleaning crew that fixed up your apartment while you recovered from a stroke?

  • SAO PAULO, July 23- All major Latin American currencies fell against the dollar on Monday, paring gains following a rally last week sparked by public comments from U.S. Regional currencies, particularly Brazil's real, surged after Trump criticized the Federal Reserve's policy on raising interest rates in an interview with CNBC on Thursday, saying it eroded the...

  • WASHINGTON— Dozens of web addresses implying U.S. senators were "for sale" have been quietly and mysteriously purchased online, amid heightened concerns on Capitol Hill that foreign agents— especially Russians— might be trying to meddle in upcoming midterm elections. An Associated Press investigation found the responsible party: Democrats.

  • *China's Tsingshan opened stainless mill in Indonesia last year. BEIJING, July 23- China began an anti-dumping investigation on Monday into stainless steel imports worth $1.3 billion, including from a privately owned Chinese mill with operations offshore, after complaints of damage to the local industry. The Commerce Ministry said the investigation will...

  • Tesla has asked some suppliers to refund money paid by the electric car maker since 2016, the Wall Street Journal reported https://www.wsj.com/articles/tesla-asks-suppliers-for-cash-back-to-help-turn-a-p r o f i t- 1 5 3 2 3 0 1 0 9 1? "Automakers often have brutal pricing demands on suppliers for future work, but retroactive rebates is not something we...

  • BEIJING, July 23- Chinese aluminum foil producer Shantou Wanshun Package Material Stock Co on Monday said its subsidiary is suing the United States over twin anti-dumping and anti-subsidy duties Washington imposed on its shipments. In a statement to the Shenzhen Stock Exchange, Wanshun said Jiangsu Zhongji Lamination Materials, which was hit with a...

  • BEIJING, July 23- Chinese aluminium foil producer Shantou Wanshun Package Material Stock Co on Monday said its subsidiary is suing the United States over twin anti-dumping and anti-subsidy duties Washington imposed on its shipments. In a statement to the Shenzhen Stock Exchange, Wanshun said Jiangsu Zhongji Lamination Materials, which was hit with a...

  • Nucala, already approved for treating severe asthma patients, is being reviewed by the FDA for reducing a sudden worsening of symptoms of chronic obstructive pulmonary disease. In documents posted https://www.fda.gov/downloads/AdvisoryCommittees/CommitteesMeetingMaterials/Drug s/ P u l m o n a r y- A l l e r g y D r u g s A d v i s o r y C o m m i t t e e/ U C M 6 1 4 1 3 8. p d f on...

  • Owing money in retirement isn't ideal— but most people do. Seventy percent of U.S. households headed by people ages 65 to 74 had at least some debt in 2016, according to the Federal Reserve's latest Survey of Consumer Finances. "It is much easier to keep working for another year or two than to try and come back into the workforce when they are older and the employer...

  • DUBAI, July 23- JPMorgan and Morgan Stanley have been picked to advise on Saudi Aramco's potential acquisition of a stake in petrochemical maker SABIC, four sources familiar with the matter said. Late last week, Aramco confirmed a Reuters report that it was working on a possible purchase of a "strategic stake" in Saudi Basic Industries Corp from the Public...

  • *Ayatollah threatens Gulf oil supply if Iran exports blocked. NEW YORK, July 23- Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24- hour strike on three oil and gas platforms in the British North Sea. Late on Sunday night, Trump tweeted that Iran risked dire...

  • LONDON, July 23- Sterling fell to a three-week low against a resurgent yen on Monday after the Japanese currency received a boost from reports that the central bank was contemplating scaling back its stimulus. "The pound is fairly mixed on the whole with an early foray higher against the U.S. dollar being met with some resistance around the $1.3150 level," said...

  • A memo provided to The Wall Street Journal shows the electric car maker asked a supplier to return what it calls a meaningful amount of money on its payments since 2016. It is spending about $1 billion a quarter as it ramps up manufacturing of the Model 3 sedan and had $2.7 billion in cash on hand at the end of the first quarter. Citi Investment Research analyst Itay...