CNBC Utilities Page Wires

  • WASHINGTON, Aug 15- The U.S. Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding Chief Executive Elon Musk's plan to take the company private and his statement that funding was "secured," Fox Business Network reported on Wednesday, citing sources. Investors viewed the Goldman statement as confirming a tweet from Elon Musk on Monday...

  • SINGAPORE, Aug 15- Singapore is the setting for new Hollywood movie' Crazy Rich Asians'- an adaptation of a best-selling novel that explores the insatiable consumerism of new money and old-world opulence in a continent producing more billionaires than anywhere else. In step with the film's release in the United States on Wednesday and ahead of its release in the...

  • The so-called "minibus" appropriations bill includes nearly $675 billion in spending for the Department of Defense, as well as about $182 billion for an array of domestic programs under the departments of Labor, Health and Human Services, Education and related agencies. Trump has threatened to shut down the government if Congress, which is controlled by his...

  • SAO PAULO, Aug 15- Miner Anglo American Plc expects to obtain licenses to expand its Minas-Rio multibillion-dollar iron ore mine in Brazil by June next year, the company's CEO for Brazil Ruben Fernandes told Reuters on Wednesday. Minas-Rio is Anglo American's biggest development project, but it is still in ramp-up phase. The company aims at hitting a 26.5...

  • SANTIAGO, Aug 15- Management at the world's largest copper mine, Chile's Escondida, said it struck a deal on Wednesday on a new labor contract with the union representing most of its workers. "We are pleased to have taken this step," Patricio Vilaplana, Escondida's vice president for corporate affairs, said in a statement. He provided no further details, but news of the...

  • Aug 15- Cisco Systems Inc topped Wall Street targets for quarterly revenue and profit and forecast first-quarter sales above estimates on Wednesday, as the network gear maker's transition to a software-focused company gains traction. The company forecast first-quarter revenue growth of between 5 percent and 7 percent, implying $12.86 billion at the...

  • *Japan's Treasuries holding falls to lowest since late 2011. Japan's ownership of Treasuries decreased to $1.030 trillion in June, the lowest since October 2011. Japanese investors sold 455.8 billion yen of U.S. bonds in June, as the Federal Reserve's gradual rate-hike campaign curbed their appetite for Treasuries, according to data from Japan's Ministry of...

  • Turkey, India, Mexico, China, Thailand, and Taiwan reduced their holdings in June. "Emerging markets have started to shed their holdings of Treasuries," said Gennadiy Goldberg, senior rates strategist at TD Securities in New York, which could be a way to prop up their currencies. Treasury holdings by Turkey, currently embroiled in a political and trade conflict with...

  • That enforcement trend, according to four experts, could benefit Tesla as the company faces an SEC investigation of CEO Elon Musk's Aug. 7 tweet about "secured" financing for a private buyout of the company. I expect Tesla to pay zero, said Georgetown law professor Urska Velikonja, who is engaged in an ongoing analysis of SEC enforcement trends against companies...

  • Aug 15- Best Buy Co Inc said on Wednesday it would buy health services provider GreatCall Inc for $800 million in cash, its largest acquisition ever, as it focuses on selling products and services to an aging U.S. population. The acquisition offers Best Buy an opportunity to combine GreatCall's offerings with its merchandising, marketing, sales and services...

  • *Turkey doubles tariffs on U.S. cars, alcohol, cigarettes. ISTANBUL/ WASHINGTON, Aug 15- The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The White House stance appeared to...

  • *Turkish lira, euro helped by Qatar pledge. NEW YORK, Aug 15- Equities around the world took a dive led by emerging market stocks on Wednesday and commodities tumbled as investors looked for safety due to worries about China and Turkey. While fears of a crisis in Turkey still loomed, China was in sharp focus as the yuan sagged nearly 0.8 percent to 6.9514 per dollar,...

  • MILAN, Aug 15- Italy's anti-establishment government, outraged at the deadly collapse of a 50- year-old bridge, has presented the disaster as a warning to Brussels to give it more leeway to upgrade the country's ageing infrastructure. Gustavo Piga, economics professor at Rome's Tor Vergata University, said regardless of EU rules, Rome had not always...

  • MONTREAL, Aug 15- The Quebec government on Wednesday said it would spend C $863 million over five years to mitigate the impact of U.S. tariffs on companies and the Canadian province's agriculture sector. In June, Quebec said it would offer C $100 million in loans and loan guarantees to steel and aluminum companies hit by the U.S. tariffs. "The Quebec economy is today...

  • Aug 15- A unit of Citgo Petroleum in September plans to resume long-delayed work to refurbish an idled, 235,000- barrel-per-day oil refinery on Aruba, the Caribbean island's government said on Wednesday. Under a $685- million project that was approved in 2016 by Aruba's government in a 25- year lease contract, Citgo aims to revamp and restart a facility that has...

  • Aug 15- Best Buy Co Inc said on Wednesday it would buy health services provider GreatCall Inc for $800 million in cash, its largest acquisition ever, as it focuses on selling products and services to an aging U.S. population. Privately held GreatCall, with annual revenue of $300 million, focuses on personal emergency response services for senior citizens, offers...

  • SAO PAULO, Aug 15- Mexico's peso sank by the most in over two months on Wednesday as Latin American equities and currencies were rattled by jitters over Turkey that led to a global sell-off in emerging market assets and commodities. Mexico's peso fell about 1.6 percent, its biggest intraday fall since early June and was on track to close at its weakest in five weeks.

  • *Trade row heats up on Turkish, Chinese fronts. *China's Tencent profit drop worries spread to U.S. tech stocks. NEW YORK, Aug 15- Wall Street fell in a day of heavy trading on Wednesday with the S&P 500 posting its biggest percentage drop since late June as investors turned risk-averse on disappointing earnings and escalating global tariff worries.

  • SAO PAULO, Aug 15- Brazilian media group Grupo Abril on Wednesday filed for bankruptcy protection in a Sao Paulo court, the company said in a statement. The group, owner of Editora Abril SA, the main magazine publisher in the country, needs to restructure 1.6 billion reais in banking debt. The filing includes all companies controlled by the Civita family, including a...

  • Aug 15- Best Buy Co Inc said on Wednesday it would buy health services provider GreatCall Inc for $800 mln in cash, adding a clutch of products tailored for aging consumers. The No. 1 U.S. consumer electronics retailer currently sells health and wellness-related products and has been shoring up on health-related assets focused on the aging U.S. population.