CNBC Utilities Page Wires

  • MTN Nigeria said on Wednesday the conversion was a legal requirement to prepare for the listing and it was engaging with the Securities and Exchange Commission and Nigerian Stock Exchange. "Our conversion to a Plc is a major step towards listing by introduction on the Nigerian Stock Exchange in the first half of 2019," MTN Nigeria chief executive Ferdi Moolman...

  • *Riyadh to stay within output limits in OPEC- led deal. RIYADH, April 24- Saudi Arabia's energy minister said on Wednesday he saw no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude, but added that the kingdom would respond to customers' needs if asked for more oil. "Inventories are actually continuing to...

  • PARIS, April 24- French spirits company Remy Cointreau expressed confidence over its growth prospects in China, where robust demand for its premium cognac underpinned annual sales growth. "We are confident we can continue to deliver double-digit sales growth in China," said Marotta, who added he remained "ok" with market estimates which currently stand at 13.5...

  • GENEVA, April 24- Iran's Supreme Leader Ayatollah Ali Khamenei said on Wednesday that the country can export as much oil as it needs, his official website reported, as the United States prepares to end sanctions waivers it granted to some importers of Iranian crude. The commander of the Revolutionary Guards navy said on Monday that Iran would close the Strait of...

  • ZURICH, April 24- Swiss drugmaker Novartis raised its 2019 profit target on Wednesday, striking an upbeat tone over a legal fight with peer and partner Amgen and on the safety of a key gene therapy that could win approval next month. Its shares rose 2.8 percent by 0837 GMT. Cosentyx is Novartis's top seller after first-quarter sales rose 41 percent to $791 million,...

  • SAN FRANCISCO, April 24- Hollywood has a new suitor in Silicon Valley. Airbnb Inc, the high-flying startup for booking home rentals around the world, has ambitions to develop a slate of original shows to whet customers' appetite for travel, four people familiar with the matter told Reuters. Chief Executive Brian Chesky is driving the idea, three of the people said,...

  • WASHINGTON, April 24- President Donald Trump is expected to tout his fight against opioid abuse in remarks in Atlanta on Wednesday, a day after his administration brought its first related criminal charges against a major drug distributor and company executives. On Tuesday, the government charged Rochester Drug Co-operative Inc and executives of the major...

  • GLASGOW, Scotland, April 24- The head of Britain's GCHQ spy agency said on Wednesday that the suitability of companies to supply equipment for the United Kingdom's 5 G telecoms systems depended more on their security and engineering processes rather than where they were based. Jeremy Fleming's comments came after a British security source told Reuters that...

  • TOKYO, April 24- Japanese Finance Minister Taro Aso will meet U.S. Treasury Secretary Steven Mnuchin in Washington on Thursday, the Japanese ministry said. Aso will brief reporters after the meeting, at around 4 p.m., the ministry said.

  • *BP stake valued at around $250 mln- sources. LONDON, April 24- Royal Dutch Shell is in talks to buy BP's stake in the Shearwater oil and gas field in the British North Sea for around $250 million, three industry sources told Reuters. For BP, a sale would mark a step towards its target of selling $5 to $6 billion of assets following its $10.5 billion purchase of BHP's shale...

  • Exports of copper and copper products, including cathodes, were $1.07 billion in the period from April 2018 to March 2019, down from $3.48 billion in the 2017/ 18 fiscal year, according to data from the India's Engineering Export Promotion Council, which is supported by the country's trade ministry. Overall copper exports from India during the April 2018 to March...

  • *Riyadh working hard to recover from Khashoggi uproar. RIYADH, April 24- Global finance chiefs who boycotted a Saudi investment summit last year following the murder of journalist Jamal Khashoggi returned to Riyadh this week as the Gulf kingdom gets business back on track. But Riyadh still faces criticism with some Western governments saying Crown Prince...

  • OSLO, April 24- Norway's $1.1 trillion sovereign wealth fund, the world's biggest, will support a shareholder proposal calling for annual elections of board members at food maker Kellogg Company, the fund said in a statement on Wednesday. Norges Bank Investment Management, which runs the fund, only rarely discloses voting intentions in advance of shareholder...

  • PARIS, April 24- Franco-Italian chipmaker STMicroelectronics struck an upbeat tone for the second half of the year on Wednesday after a steep fall in quarterly sales of sensors compelled it to trim its investment plans. "This, coupled with the financial stimulus programs in China, is increasing our confidence level for improved market conditions for the...

  • *Cyprus gets 9 bln euros demand for 5- and 30- yr debt. LONDON, April 24- Cyprus's first 30- year bond sale was overloaded with orders on Wednesday, with high demand for such long maturities showing just how much Europe's bond market is adjusting to expectations of persistently low interest rates and central bank stimulus. The demand for 30- year debt from a country...

  • BERLIN/ MUNICH, April 24- German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe's largest economy, leaving domestic demand to support slowing growth. The Munich- based Ifo economic institute said on Wednesday its business climate index fell to 99.2 in April from an...

  • LONDON, April 24- British finance minister Philip Hammond said Brexit was creating "very significant" uncertainty about the economic outlook, deterring business investment and limiting his ability to make long-term plans on spending and taxes. Prime Minister Theresa May has been forced to delay Britain's exit from the European Union because lawmakers have...

  • LONDON, April 24- Ukraine has entered uncharted political waters by choosing Volodymyr Zelenskiy, a comedian with no previous political experience and few detailed policies, as its new president. Zelenskiy is the latest anti-establishment figure to unseat an incumbent leader, both in Europe and further afield, but he has a lot to get to grips with.

  • PARIS, April 24- Franco-Italian chipmaker STMicroelectronics struck an upbeat tone for the second half of the year on Wednesday after a steep fall in quarterly sales of sensors compelled it to trim its investment plans. "This, coupled with the financial stimulus programs in China, is increasing our confidence level for improved market conditions for the...

  • BUDAPEST, April 24- Central Europe's main currencies mostly eased slightly on Wednesday as the Ifo economic institute reported a surprise drop in business morale in Germany, the region's key export partner. "Such impacts arrive through the euro/dollar cross, but despite some weakening after the Ifo, the euro stands where it did yesterday afternoon," one...