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CNBC Utilities Page Wires

  • WASHINGTON, June 20- The U.S. Commerce Department is investigating recent steel price hikes to determine whether some market participants are "illegitimately profiteering" from new tariffs, Commerce Secretary Wilbur Ross said on Wednesday. U.S. benchmark hot-rolled steel coil June futures prices were quoted at $902 per ton on the New York Mercantile...

  • FORT WORTH, Texas— American Airlines says a regional affiliate should run close to a normal operation Thursday after canceling 2,750 flights in the past week because of a computer problem. Spokeswoman Katie Cody said PSA Airlines stabilized its computer systems but faced delays getting planes and crews back in place., According to FlightStats, PSA canceled...

  • OTTAWA, Ontario— Canadian Prime Minister Justin Trudeau said Wednesday he can't imagine President Donald Trump will make good on his threat to impose new tariffs on Canadian autos entering the United States because it would amount to a self-inflicted wound on the U.S. economy. Trump is considering using the same controversial national security clause that...

  • *BoE's decision due to be published at 1100 GMT. LONDON, June 21- The Bank of England may lay some groundwork on Thursday for an August interest rate rise, if it judges the economy is now turning a corner after an unusually weak start to the year. At the end of last year Britain was the slowest-growing economy among the G7 group of rich nations, as businesses held back...

  • BEIJING, June 21- Toyota has begun slashing costs, starting with sales and marketing, and shifting resources into research that will help it keep up with new competitors, four people familiar with the matter said. One of the company's first moves was to cancel contracts with the China unit of its long-term communication and advertising agency, Dentsu Inc, the...

  • TOKYO, June 21- Around a quarter of Japanese firms have made progress on meeting some of the easier requirements under Europe's new data privacy regulations while another 20 percent plan to do so- but very few are prepared for more onerous rules, a Reuters poll found. Below are the questions and answers to a poll conducted Nikkei Research between June 4-15 for...

  • TOKYO, June 21- Around a quarter of Japanese businesses have made progress on meeting some of the easier requirements under Europe's new data privacy regulations while about another 20 percent plan to do so, a Reuters poll found. The results of the Reuters Corporate Survey, conducted June 4-15, shows only modest progress by Japanese firms in their efforts to...

  • TORONTO, June 20- Marijuana sales will become legal in Canada beginning October 17, Prime Minister Justin Trudeau said on Wednesday, making it the first major economy to legalize its recreational use. Shares of Canopy Growth Corp, Canada's biggest marijuana producer by market value, closed up 6.7 percent C $45.36 in Toronto. Statistics Canada estimates that the...

  • NEW YORK, June 20- Index provider MSCI said on Wednesday it will reclassify Argentina as an emerging market and begin including Saudi Arabia in that classification, sharply broadening the investor base for both countries in a move that could be supportive of their equity markets. For Saudi Arabia, there is high anticipation over the market listing of...

  • June 20- A U.S. solar company that convinced Washington to impose protective tariffs on cheap imports to help it survive is seeking bankruptcy court approval to abandon its inventory of solar panels as it winds down operations. In a filing with the U.S. Bankruptcy Court in Delaware late on Tuesday, Suniva Inc requested approval to abandon solar panels with a...

  • BRASILIA/ SAO PAULO, June 20- Brazil's central bank kept interest rates unchanged on Wednesday, as expected, refraining from hiking even after a sharp currency slide as policymakers highlighted the unclear impact of a nationwide protest by truckers in late May. The statement from the bank's nine-member monetary policy committee, which kept the benchmark...

  • Oil in Midland, Texas now sells for about $6 a barrel less than the U.S. benchmark, compared with $1.50 less in January. Halcon Resources Corp this week said it would remove a drilling rig in the Permian Basin next month because of "lower near-term realized oil prices in the Midland market," referring to the regional price. Operators who lack guaranteed space on...

  • President Donald Trump to end the separation of immigrant children from their parents at the U.S.- Mexico border. The order requires immigrant families to be detained together when they are caught entering the United States from Mexico illegally, for as long as their criminal proceedings take. The executive order could increase the need for capacity at U.S....

  • WASHINGTON, June 20- The U.S. Commerce Department on Wednesday announced a preliminary finding that imports of large-diameter welded pipe from China, India, South Korea and Turkey were subsidized by those countries, and said it was imposing preliminary duties that could top 500 percent. Imports in 2017 of large-diameter welded pipe were valued at an estimated...

  • NEW YORK, June 20- Well-regarded surgeon and author Atul Gawande, a critic of his industry's medical practices, will lead the new company being formed by Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase& Co that aims to cut U.S. employee healthcare costs, the companies said on Wednesday. Gawande practices general and endocrine surgery at Brigham and...

  • Trump has already slapped tariffs on steel and aluminum from Canada on national security grounds and is threatening similar punitive measures against autos, which would badly hurt the Canadian economy. Trudeau told a news conference that given the closely integrated nature of the North American auto industry, any action against Canada would hurt U.S....

  • FRANKFURT, June 20- Daimler on Wednesday said profit would fall in 2018 as new import tariffs on cars exported from the United States to China would hurt sales of high-margin Mercedes-Benz sports utility vehicles. China has warned it would retaliate with levies on U.S. products, potentially including the Mercedes-Benz sport utilities shipped to China from...

  • Micron said it expects fourth-quarter revenue in the range of $8.0 billion and $8.4 billion, compared with analysts' estimate of $8.07 billion. "Based on a share count of about 1.23 billion shares, these results should drive EPS of $3.30, plus or minus $0.07," Micron's Chief Financial Officer David Zinsner said on a conference call with analysts.

  • BRASILIA/ SAO PAULO, June 20- Brazil's central bank kept interest rates unchanged on Wednesday, as expected, refraining from hiking even after the country's currency fell to its weakest levels in more than two years. The bank acknowledged, however, that a nationwide protest by truckers in the final weeks of May had raised uncertainty over the economic outlook,...

  • LONDON, June 20- Britain's finance minister will try to reassure bankers on Thursday that he will protect their interests as London leaves the EU, with a major speech emphasizing open trade and financial services industry relationships both with Europe and beyond. Philip Hammond, the most pro-European of Prime Minister Theresa May's top ministers, will say he...