CNBC Utilities Page Wires

  • CHICAGO, March 26- Yield-hungry investors on Tuesday snapped up more than $1.1 billion of general obligation bonds offered by Illinois and Chicago, two of the U.S. municipal market's most financially troubled issuers. MMD narrowed so-called credit spreads for Illinois, the lowest-rated U.S. state, at a notch or two above junk, due to its huge unfunded pension...

  • NEW YORK, March 26- U.S. health insurer Centene Corp is in advanced talks to buy smaller rival WellCare Health Plans Inc, according to two people familiar with the matter. Centene and WellCare are among the insurers that rely the most on Obamacare's healthcare exchanges and Medicaid expansion for their membership, according to SVB Leerink analyst Ana Gupte.

  • NEW YORK, March 26- Dow Inc will replace DowDuPont Inc in the Dow Jones Industrial Average following the chemical corporation's breakup into three smaller companies, S&P Dow Jones Indices said on Tuesday. The rearrangement of the widely followed blue-chip index of 30 companies would happen on April 2 before the U.S. stock market opens, S&P Dow Jones Indices said...

  • SAN FRANCISCO, March 26- Federal Reserve policymakers need to be vigilant that muted inflation does not become ingrained in their expectations, but the U.S. central bank's patient approach to monetary policy should allow inflation to reassert itself, San Francisco Federal Reserve Bank President Mary Daly said on Tuesday. "Patience is where I'm at right now,"...

  • WASHINGTON, March 26- The U.S. Senate's top Democrat on Tuesday said President Donald Trump's pick for a powerful position at the Federal Reserve lacks the right background for the job. Trump said on March 22 that he would nominate conservative economic commentator Stephen Moore for a seat on the central bank's board of governors, but the president has yet to...

  • CARACAS, March 26- Venezuela's government told workers and school children to stay home on Tuesday as the second major blackout this month left the streets of Caracas mostly empty and residents wondering how long power would be out amid a deepening economic crisis. Intermittent service has long affected Venezuela's largely rural interior, but residents of...

  • NEW YORK, March 26- A federal judge on Tuesday scheduled an April 4 hearing to hear oral arguments in the U.S. Securities and Exchange Commission lawsuit seeking to hold Tesla Inc Chief Executive Elon Musk in contempt. District Judge Alison Nathan in Manhattan scheduled the hearing for 2 p.m. EDT, in a brief order that did not say what will be discussed.

  • March 26- Latin American currencies weakened on Tuesday against a stronger dollar, while stocks mostly tracked a resurgence in world stocks, with Brazil shares breaking a five-session losing run. Brazil's Economy Minister Paulo Guedes skipped the first congressional hearing on reform proposals and a bloc of 11 political parties demanded the removal of...

  • NEW YORK, March 26- Goldman Sachs Group Inc's credit card deal with Apple Inc is the latest move by the Wall Street investment bank to court mass-market consumers, potentially connecting Goldman with hundreds of millions of iPhone users. But Goldman is entering a crowded market for co-branded cards where retailers often have the upper hand, and analysts...

  • March 26- OxyContin maker Purdue Pharma LP and members of the wealthy Sackler family that own the company reached a $270 million settlement to resolve a lawsuit brought by the state of Oklahoma accusing the drugmaker of fueling an opioid abuse epidemic. The settlement unveiled by Oklahoma Attorney General Mike Hunter on Tuesday was the first to result from a...

  • SAN FRANCISCO, March 26- San Francisco Federal Reserve Bank President Mary Daly on Tuesday said she supports the Fed's current policy of waiting to adjust its short-term interest-rate policy until the economic data makes it clear whether what is needed is a rate hike or a rate cut. "Patience is where I'm at right now," Daly told reporters after a speech at the...

  • NEW YORK, March 26- Goldman Sachs Group Inc's credit card deal with Apple Inc is the latest move by the Wall Street investment bank to court mass-market consumers, potentially connecting Goldman with hundreds of millions of iPhone users. But Goldman is entering a crowded market for co-branded cards where retailers often have the upper hand, and analysts...

  • CHICAGO, March 26- Chicago Mercantile Exchange live cattle futures fell for a third straight session on Tuesday on technical selling and fund long liquidation following the market's recent climb to one-year highs, traders said. CME April live cattle futures ended down 0.675 cent at 126.900 cents per pound while the actively traded June contract fell 0.400...

  • BOEING HAS FLOWN TEST FLIGHTS OF ITS 737 MAX TO EVALUATE A FIX FOR THE SYSTEM TARGETED AS A POTENTIAL CAUSE OF TWO DEADLY PLANE CRASHES- AFP.

  • U.S. SENATE REPUBLICANS GET ENOUGH VOTES TO DEFEAT GREEN NEW DEAL RESOLUTION IN MOVE DEMOCRATS CALL A POLITICAL STUNT, VOTING CONTINUES.

  • LONDON, March 26- Britain's main opposition Labour Party has put forward its own plan for a close economic relationship with the European Union as parliament is due to vote on a series of indicative votes to find a way forward on Brexit on Wednesday. Labour's proposals include a comprehensive customs union with the EU and close alignment with the single market.

  • March 26- Missouri farmer Richard Oswald needs a lot of help to recover from flooding that left his home and farm looking like a manmade island in an inland sea. Relief groups are giving tetanus shots and handing out free meals and cleaning supplies near his farm in the Langdon- Rock Port area, about 100 miles northwest of Kansas City. "The typical response on flood...

  • NEW YORK, March 26- U.S. stocks gained on Tuesday, with financials snapping a five-day losing streak as Treasury yields stabilized above 15- month lows. The S&P 500 financial index gained 1.1 percent and registered its biggest daily percentage gain since Feb. 15. The market is on yield watch, there's no doubt about it, "said Quincy Krosby, chief market strategist at...

  • *FAA to make big changes by July, official to testify to Senate. At a U.S. Senate panel hearing on Wednesday, the Federal Aviation Administration acting head Dan Elwell will say the agencys oversight approach must "evolve" after the deadly crashes, according to the testimony. The aviation industry has been thrown into flux by a Lion Air crash in Indonesia last...

  • TORONTO, March 26- The Canadian dollar edged higher against its U.S. counterpart on Tuesday as stocks and oil prices rose, with the loonie extending its rebound from a two-week low a day earlier. "It seems to be similar to what we have seen recently where risk has been driving the loonie," said Erik Nelson, a currency strategist at Wells Fargo in New York.