CNBC Utilities Page Wires

  • BANGKOK— A Thai court has ordered Ford Motor Co. to pay 291 customers a total of about $720,000 in compensation for selling cars equipped with faulty transmissions. Most of the plaintiffs in the class action suit will get payments of $800 to $8,000 each depending on the number of times and length of time their cars took to be repaired. Earlier, Dearborn, Michigan-...

  • "It is clear and obvious that the U.S. is purposefully putting pressure on the people of Iran to instigate discontent" over the auto market, said Mohammad Reza Najfimaneh, the head of the Iranian Specialized Manufacturers of Auto Parts Association. In 2017 alone, Iran produced more than 1.5 million cars, up some 14 percent from the year before, according to a report...

  • *BOJ tankan due at 2350 GMT on Sept 30. TOKYO, Sept 21- Business confidence among Japan's big manufacturers was expected to have edged up in the three months to September, although trade worries cloud the outlook, a Reuters poll found ahead of the central bank's quarterly sentiment survey. The expected deterioration in service-sector sector mood would follow...

  • BEIJING— Asian stocks rose Friday after Wall Street hit a new high and a survey showed Japanese manufacturing accelerating. Seoul's Kospi added 0.4 percent to 2,332.94 and Sydney's S&P-ASX 200 gained 0.2 percent to 6,181.90. India's Sensex was 0.7 percent higher at 37,369.88 and benchmarks in Taiwan, New Zealand and Southeast Asia also advanced.

  • CLAYTON, N.C., Sept 21- Six months into the U.S. tariffs on imported aluminum and steel, Caterpillar Inc is finding that one of the best ways it can protect profits is a cost cutting strategy that is more than two years old. Even though demand has picked up since then, its Clayton plant still runs a single shift and operates only four days a week. It has redesigned all new...

  • WASHINGTON, Sept 21- Unemployment near a 20- year low screams at the U.S. Which path they follow will begin to define whether Chairman Jerome Powell engineers a sustained, recession-free era of full employment, or spoils the party with interest rate increases that prove too much for the economy to swallow. New York Fed President John Williams deemed the current...

  • *Japan, U.S. trade talks to be held Sept. 24. President Donald Trump next week as fears grow in Tokyo that Washington could demand that Japan curb its car exports to the United States. Abe and Trump will hold a summit meeting on Sept. 26 on the sidelines of a United Nations General Assembly meeting in New York, Japan's top government spokesman said on Friday.

  • *China's yuan rises on stronger-than-expected fixing. SHANGHAI, Sept 21- China stocks rose on Friday, with consumer shares leading the gains, as investors expected Beijing to help boost domestic consumption amid continued uncertainty over global trade. **Shares of China's consumer goods companies climbed on expectations of rising sales after China's State...

  • The index has fallen more than 1 percent this week, with investor flows being diverted from the greenback to other currencies including emerging market ones amid an ebb in U.S.- China trade war concerns. "It appears that positions which were skewed towards risk aversion are being reversed across the board," said Makoto Noji, senior strategist at SMBC Nikko...

  • BEIJING— The head of China's energy planning agency has been snared in President Xi Jinping's marathon anti-corruption campaign. Nur Bekri, one of the most senior officials from the Uighur ethnic minority in China's Muslim northwest, is suspected of unspecified "severe discipline violations," the official term for corruption, the ruling Communist Party's...

  • TOKYO, Sept 21- Japan's annual core consumer inflation ticked up slightly in August but remained distant from the central bank's 2 percent target, suggesting that monetary policy will stay ultra-loose for the time being. Soft inflation could pose a challenge for Prime Minister Shinzo Abe's efforts to put a sustained end to deflation as he heads into a third...

  • WASHINGTON, Sept 20- The Trump administration imposed sanctions on the Chinese military on Thursday for buying fighter jets and missile systems from Russia, in breach of a sweeping U.S. sanctions law punishing Moscow for meddling in the 2016 U.S. election. The U.S. State Department said it would immediately impose sanctions on China's Equipment Development...

  • Sept 21- The "big four" accounting firms could be broken up under plans by UK's Labour Party to overhaul the auditing industry, Britain's shadow chancellor John McDonnell told The Financial Times on Friday. Lawmakers have accused EY, KPMG, Deloitte and PwC of being an "oligopoly" that checks the books of nearly all the 350 leading companies in Britain, with smaller...

  • SYDNEY, Sept 21- Global ratings agency S&P raised its outlook on Australia's AAA sovereign rating on Friday to "stable" from "negative" citing optimism about the government's ability to return the country's finances to surplus by the early 2020 s. After almost a decade of deficits, Australia's center-right government has said it would turn a small budget surplus...

  • Sept 21- The "big four" accounting firms could be broken up under plans by UK's Labour Party to overhaul the auditing industry, Britain's shadow chancellor John McDonnell told The Financial Times on Friday. Lawmakers have accused EY, KPMG, Deloitte and PwC of being an "oligopoly" that checks the books of nearly all the 350 leading companies in Britain, with smaller...

  • BIG FOUR ACCOUNTING FIRMS, DELOITTE, EY, KPMG, AND PWC, COULD BE BROKEN UP UNDER RADICAL PLANS BY UK'S LABOUR PARTY TO OVERHAUL THE AUDITING INDUSTRY- FT.

  • SINGAPORE, Sept 21- Chicago soybean futures ticked lower on Friday but the market is poised for its biggest weekly gain in a month as prices recover from a 10- year low, supported by strong demand. Wheat eased, giving up some of the gains over the last two days which were sparked by tightening global supplies following dry weather in several exporting countries...

  • TOKYO, Sept 21- Japan's Nikkei advanced to fresh eight-month highs led by an upbeat Wall Street performance, with commodity stocks rising as investors appeared to gravitate to the view that the U.S.- China trade row would be less damaging to growth than first feared. Earlier this week, China added $60 billion of U.S. products to its import tariff list to hit back at...

  • Sept 21- S&P Global Ratings said on Friday it maintained Australia's sovereign credit rating at' AAA', but raised its outlook to stable from negative.

  • *OPEC, its allies to gather on Sunday in Algeria. President Donald Trump urged OPEC to lower crude prices ahead of its meeting in Algeria this weekend. OPEC and its allies are scheduled to meet on Sunday in Algeria to discuss how to allocate supply increases to offset a shortage of Iran supplies due to U.S. sanctions.