CNBC Utilities Page Wires

  • *Trumps accuses OPEC of ripping off the world. *OPEC and Russia resist calls to raise output. President Donald Trump spoke heatedly about Iran ahead of U.S. sanctions on the country's crude exports and bolstered by the apparent reluctance of OPEC and Russia to raise output to offset the potential hit to global supply.

  • "Saudi Arabia rejects and condemns the false accusations that Iranian officials have made about Saudi Arabia supporting the events that took place in Iran last Saturday," the agency quoted a foreign ministry official as saying.

  • SAN FRANCISCO— The co-founders of Instagram are resigning their positions with the social media company without explanation. Chief Executive Kevin Systrom said in a statement late Monday that he and Mike Krieger, Instagram's chief technical officer, plan to leave the company in the next few weeks and take time off "to explore our curiosity and creativity...

  • SAO PAULO, Sept 25- The Argentine peso tumbled more than 4 percent on Tuesday in light trading, after the nation's central bank chief quit amid reports of disagreements with Economy Minister Nicolas Dujovne. The move by Luis Caputo to leave his post took the market by surprise, causing jitters as the central bank is trying to stem a rapid devaluation of the peso...

  • BUENOS AIRES, Sept 25- Argentina's central bank governor resigned on Tuesday in the midst of negotiations with the International Monetary Fund, dealing a blow to President Mauricio Macri's efforts to shore up investor confidence and sending the peso tumbling. Former Economic Policy Secretary Guido Sandleris, who holds a doctorate in economics from...

  • LONDON, Sept 25- AstraZeneca's immunotherapy drug Imfinzi cut the risk of death in patients with mid-stage lung cancer by nearly a third in a closely watched clinical study, reinforcing the case for using the drug in earlier disease. The encouraging overall survival data boosts prospects for a medicine that was approved this week in Europe and has already had a...

  • FRANKFURT, Germany— German luxury automaker BMW says its profits and sales will fall short of its forecasts this year because of fears over international trade conflicts and as new emissions tests affect the pricing of cars. BMW predicts 7 percent, below its target range of 8-10 percent. The company said that new, tougher emissions tests in Europe have led to...

  • Sept 25- Alphabet Inc's Google has joined Facebook in ending a ban on advertisements for cryptocurrencies, CNBC reported https://www.cnbc.com/2018/09/25/google-reverses-ban-on-cryptocurrency-exchange-a d v e r t i s i n g- i n- u s- j a p a n. h t m l on Tuesday. Google's move to ban such ads in June sent the price of the best-known cryptocurrency, bitcoin, down more...

  • NEW YORK, Sept 25- Canada is failing to make concessions needed to reach a deal with the United States for a trilateral NAFTA pact, and is running out of time before Washington proceeds with a Mexico- only agreement, U.S. Lighthizer, speaking to the Concordia Summit in New York, said there was "some distance" between the United States and Canada on North American Free...

  • ROME, Sept 25- Italy published a report on Tuesday into road operator Autostrade per l'Italia's role in last month's deadly bridge collapse, laying out evidence that Rome is expected to use to strip the company of its concessions to run Italian motorways. The report said Autostrade had failed to assess the safety of the Genoa bridge, where a viaduct collapsed on...

  • COPENHAGEN, Sept 25- Denmark has bolstered defences against shocks to its financial system after a risk-assessment body said the sector's stability could be threatened by the Danske Bank money laundering scandal. The case is a risk for Denmark's entire financial sector, the Systemic Risk Council, which monitors threats to the stability of the country's...

  • TOKYO, Sept 25- Japan and the United States have reached a broad understanding over how to promote bilateral trade and may announce specifics on Wednesday, Economy Minister Toshimitsu Motegi was quoted as saying after meeting U.S. Speaking to reporters in New York after his second round of trade talks with Lighthizer, Motegi said he hoped to give more details...

  • COPENHAGEN, Sept 25- Denmark has bolstered defenses against shocks to its financial system after a risk-assessment body said the sector's stability could be threatened by the Danske Bank money laundering scandal. The case is a risk for Denmark's entire financial sector, the Systemic Risk Council, which monitors threats to the stability of the country's...

  • *FTSE index change helps to lift Polish stocks. BUDAPEST, Sept 25- Warsaw's blue-chip share index set a three-week high on Tuesday, helped by the reclassification of Polish shares to "developed market" from "advanced emerging" within FTSE global indexes. The bank's Deputy CEO Jakub Papierski was quoted by Polish news agency PAP as saying that the advance of Warsaw...

  • IRONTO, Va.— Despite the theft of nearly its entire crop of grapes, a Virginia winery will be able to raise a glass of its 2018 vintage to a new friendship. The Roanoke Times reports Washington state's Alexandria Nicole Cellars has offered to donate the replacement for more than 2 tons of grapes stolen from Firefly Hills Vineyard two weeks ago.

  • FORT WORTH, Texas— American Airlines will offer more food-for-sale choices in main cabins in a light and healthy menu effort by the world's largest carrier and Zoe's Kitchen. Fort Worth- based American on Monday announced the agreement with Zoe's Kitchen, which specializes in Mediterranean-style food. American says some Zoe's Kitchen signature items will be...

  • *Praet says Draghi comments nothing new. NEW YORK, Sept 25- The dollar was weaker on Tuesday ahead of a Federal Reserve meeting that is widely expected to end with an interest rate hike, as investors already have priced in two more rate increases this year and some in 2019, leaving little room for further currency gains. "The U.S. dollar appears vulnerable heading...

  • Sept 25- Verizon Communications Inc said on Tuesday it is offering voluntary separation buyout packages to thousands of management employees in the United States. "It is a voluntary plan and offers employees three weeks' pay for every year of service," Verizon spokesman Jim Gerace said, without providing details on the number of employees who would be offered...

  • DNB's letter followed a 775 million euro fine given to Dutch bank ING earlier this month for failing to notice dubious transactions by its clients. Spokesmen for ABN Amro and Rabobank, the two other big banks in the Netherlands, said they put significant effort into trying to prevent money laundering. ING's fine was the result of one the largest ever such...

  • *OPEC and Russia resist calls to raise output. NEW YORK, Sept 25- Crude oil prices shot to a four-year high on Tuesday, catapulted by imminent U.S. sanctions on Iranian crude exports and the apparent reluctance of OPEC and Russia to raise output to offset the potential hit to global supply. The United States will target Iran's oil exports with sanctions from Nov. 4,...