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CNBC Utilities Page Wires

  • PENNSYLVANIA GOVERNOR SUES RBC CAPITAL MARKETS, LAWYERS AND OTHER FIRMS OVER INCINERATOR DEAL THAT NEARLY BANKRUPTED CITY OF HARRISBURG.

  • NEW YORK/ LONDON, May 21- Gold on Monday marked a new low for the year to date after U.S. Treasury Secretary Steven Mnuchin's declaration that a trade war between China and the United States was "on hold" helped boost appetite for higher-risk assets, such as stocks. "With the China trade news, international investors sold off gold," said Michael Matousek, head trader at...

  • ROME, May 21- Italy's anti-establishment 5- Star Movement and the far-right League on Monday proposed Giuseppe Conte, a little-known law professor who is not in parliament, as prime minister to lead their big-spending coalition government. "I am very proud of this choice, Giuseppe Conte will carry forward our government contract," 5- Star leader Luigi Di Maio...

  • NEW YORK— The restaurant group co-owned by Mario Batali says it has been "actively negotiating" to buy out the celebrity chef facing sexual misconduct allegations. The B&B Hospitality Group says Batali and partner Joe Bastianich have signed a letter of intent and final terms could be set by July 1. The New York Police Department confirmed it's investigating...

  • May 21- U.S. consumer bible Consumer Reports stopped short of recommending Tesla Inc's Model 3 electric car on Monday, criticising it for its braking and taking the shine off a day of gains for shares in billionaire Elon Musk's venture. Musk had driven shares in the electric carmaker higher with a weekend twitter discussion which argued the company should focus...

  • *Court's five conservatives carry the day, liberals dissent. WASHINGTON, May 21- The U.S. Supreme Court delivered a blow to the rights of workers on Monday by allowing companies to require them to sign away their ability to bring class-action claims against management, agreements already in place for about 25 million employees. Republican President Donald...

  • *Soybeans rally as U.S.- China trade tensions ease. CHICAGO, May 21- U.S. soybean futures jumped more than 2 percent on Monday after Washington and Beijing agreed to drop tariff threats, easing fears that demand for U.S. shipments to top importer China could slow. "The market is excited about the news about progress with China on trade," said Rich Nelson, chief...

  • May 21- U.S. stocks rallied on Monday after the United States and China put their trade differences "on hold" to work on a wider agreement, while sentiment was also boosted by the nearly $28 billion worth of merger deals. Treasury Secretary Steven Mnuchin said on Sunday the United States and China had agreed to drop their tariff threats, while China on Monday praised...

  • *Conte is law professor at Florence University. ROME, May 21- If you have never heard of Italy's possible new prime minister, Giuseppe Conte, then you are in good company. A law professor at Florence University with no political experience, Conte has been plucked from obscurity by the anti-establishment 5- Star Movement and the far-right League as a front-man to...

  • *CONSUMER REPORTS SAYS TESLA MODEL 3 FALLS SHORT OF A CR RECOMMENDATION. *CONSUMER REPORTS SAYS "THE TESLA'S STOPPING DISTANCE OF 152 FEET FROM 60 MPH WAS FAR WORSE THAN ANY CONTEMPORARY CAR WE'VE TESTED". *CONSUMER REPORTS ALSO FAULTS MODEL 3' S CONTROLS, SAYS THEY CAN CAUSE DRIVERS TO BE DISTRACTED FROM THE ROAD Source text: https://bit.ly/2Llhbcb Further company...

  • Italian news agency ANSA is reporting that a law professor named Giuseppe Conte is the person chosen by a populist coalition of the 5- Star Movement and League to be Italy's next premier. The leader of the 5- Star Movement, Luigi Di Maio, did not identify the coalition's candidate while speaking to reporters after meeting with Italian President Sergio...

  • BEIJING/ WASHINGTON, May 21- Washington and Beijing both claimed victory on Monday as the world's two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China. Over the weekend, the two sides pledged to keep talking about how China could import more energy and agricultural commodities from...

  • May 21- Consumer Reports on Monday said that flaws with Tesla Inc's Model 3 sedan prevented it from earning its recommendation. The report said even though tests found plenty to like about the Model 3, it had "big flaws" including long stopping distances and difficult-to-use controls. Tesla's stopping distance of 152 feet from 60 mph was far worse than any...

  • *Unloads parts of transportations unit in $11.1 bln deal. May 21- General Electric Co announced a $11.1 billion deal on Monday to merge its transportation business with U.S. rail equipment manufacturer Wabtec Corp, with GE and its shareholders owning just over half of the combined business. The transaction values the GE transportation business, which makes...

  • ROME, May 21- The leader of Italy's far-right League said on Monday that the coalition government he aims to form with the anti-establishment 5- Star Movement will reduce public debt by boosting economic growth. Matteo Salvini told reporters after meeting President Sergio Mattarella that foreign observers who have criticized the policies of the maverick...

  • May 21- Activist investor Carl Icahn filed a lawsuit on Monday against AmTrust Financial Services Inc and the family that controls the company, accusing them of trying to take the insurer private at the wrong time and at the wrong price. The lawsuit filed in the Court of Delaware accuses Karfunkel-Zyskind family of engaging in a transaction which will transfer "...

  • ROME, May 21- The head of Italy's anti-establishment 5- Star Movement said on Monday he wanted law professor Giuseppe Conte to be the prime minister of a coalition government that could take office later this week. "I am very proud of this choice, Giuseppe Conte will be the head of a political government agreed by two political forces," Luigi Di Maio told reporters...

  • MUMBAI, May 21- Senior executives at India's Punjab National Bank misled the central bank in late 2016 over the lender's handling of the financial messaging system and credit guarantees that were at the centre of a more than $2 billion fraud, Indian police alleged in a charge sheet filed in court. PNB, India's second-largest state-run bank, said earlier this year...

  • May 21- Activist investor Carl Icahn filed a lawsuit on Monday against AmTrust Financial Services Inc and the family that controls the company, accusing them of trying to take the insurer private at the wrong time and at the wrong price. Icahn had disclosed a 9.38 percent stake in AmTrust on May 17. On March 1, AmTrust said it would be acquired in a $2.7 billion deal by...

  • *FTSE 100 up 1 pct at record high. LONDON, May 21- Britain's FTSE 100 hit another record high on Monday as an easing in U.S.-Chinese trade tensions and a strengthening dollar gave more fuel to the internationally-exposed index. "I don't think sentiment has changed towards the UK stock market dramatically over the last two to six months," said James Illsley, UK equity...