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CNBC Utilities Page Wires

  • LONDON, April 25- Big investment banks should accept that simple may be better when it comes to new rules for capital requirements to protect them from trading risks, a top regulator said on Wednesday. On Wednesday, Basel hit back, with its Secretary General William Coen saying the final version of the rules may need to emphasise ease of application over...

  • LONDON, April 25- Big investment banks should accept that simple may be better when it comes to new rules for capital requirements to protect them from trading risks, a top regulator said on Wednesday. On Wednesday, Basel hit back, with its Secretary General William Coen saying the final version of the rules may need to emphasize ease of application over...

  • DETROIT/ SAO PAULO, April 25- General Motors Co is planning for long-term profitability in South America built on the back of draconian cost cutting during Brazil's recession and the same low-cost vehicles it is developing for Chinese consumers, which are due to hit dealerships in 2019.. That "one family" will consist of an expected 2 million units made annually...

  • Goodyear, which counts Japan's Bridgestone Corp and France's Michelin as its rivals, hiked its tire prices last year to counter rising raw material costs that have pressured tiremakers. However, the Akron, Ohio- based company reiterated full-year forecast for segment operating income- combined earnings of its three units- of $1.8 billion to $1.9 billion,...

  • *Sales of shingles vaccine 110 mln pounds in Q1. LONDON, April 25- GlaxoSmithKline's new shingles vaccine Shingrix exceeded expectations in the first quarter, but the drugmaker's sales and earnings fell 2 percent, held back by a stronger pound and more pricing pressure in respiratory medicine. The vaccine, a rival to Merck& Co's older and less effective Zostavax,...

  • NEW YORK— The Associated Press lost $74 million in 2017, mostly due to one-time accounting charges related to the federal tax overhaul passed late last year. Revenue fell 8 percent to $510.1 million from $556.3 million in 2016, when the company benefited from additional revenue related to U.S. elections, according to the AP's earnings release.

  • NORTH LIBERTY, Iowa _ Heartland Express Inc. on Wednesday reported first-quarter earnings of $13.4 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share. Seven analysts surveyed by Zacks expected $169.6 million.

  • *Industry losses estimated at $81 million. PRETORIA, April 25- South African pork prices have fallen over a third in recent months as demand for processed cold meats tanked in the wake of the deadliest outbreak of listeria in history. Cheaper pork will add to downward pressure on food prices, which have been slowing on expectations of a solid maize crop, helping to...

  • *Boeing jumps after upbeat results, profit raise. *Comcast shares drop after $31 bln offer for Sky. April 25- Dow Jones Industrial Average futures erased losses on Wednesday after Boeing reported strong results and forecast, but concerns about rising U.S. bond yields and corporate costs continued to weigh on U.S. stocks.

  • BERLIN, April 25- The German government on Wednesday lowered its forecast for 2018 growth to 2.3 percent from 2.4 percent previously and expressed concern about international trade tensions, but insisted the "economy remains buoyant and the upturn is continuing". Economy Minister Peter Altmaier said that, despite the dip in the Ifo index from high levels,...

  • ZURICH _ Credit Suisse Group AG on Wednesday reported first-quarter earnings of $731.8 million. The Zurich- based bank said it had earnings of 27 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • *Combined tower firm to be called Indus Towers, to remain listed. BENGALURU/ MUMBAI, April 25- India's Bharti Infratel Ltd has agreed to merge with Indus Towers, in a deal that creates the world's No. 2 telecom tower company with an estimated equity value of $14.6 billion. Seeking to capitalise on rapid growth in smartphone usage in the country, the transaction, which...

  • HELSINKI, April 25- By getting hold of a widely used hotel key card, an attacker could create a master key to unlock any room in the building without leaving a trace, Finnish security researchers said in a study published on Wednesday, solving a 14- year-old mystery. While the researchers have fixed the flaw together with Assa Abloy, the world's largest lock...

  • WASHINGTON _ Oritani Financial Corp. on Wednesday reported fiscal third-quarter profit of $13.4 million. The bank, based in Washington, said it had earnings of 30 cents per share. The holding company for Oritani Bank posted revenue of $38.5 million in the period.

  • April 25- Boeing Co's profit jumped by more than half in the first quarter, surging past Wall Street forecasts, and strong sales of commercial jets led it to raise its forecasts for cash flow and earnings after a record 2017.. Core earnings, which exclude some pension costs, jumped to $3.64 per share from $2.17 per share a year earlier, dwarfing a consensus forecast...

  • BRIDGEHAMPTON, N.Y. _ Bridge Bancorp Inc. on Wednesday reported first-quarter profit of $12.1 million. The Bridgehampton, New York- based bank said it had earnings of 61 cents per share. Bridge Bancorp shares have fallen slightly more than 6 percent since the beginning of the year.

  • FOUNTAIN INN, S.C. _ AVX Corp. on Wednesday reported fiscal fourth-quarter earnings of $31.8 million. The Fountain Inn, South Carolina- based company said it had net income of 19 cents per share. For the year, the company reported profit of $4.9 million, or 3 cents per share.

  • April 25- Satellite provider Globalstar Inc said on Wednesday it would merge with landline operator FiberLight LLC in a deal valued at $1.65 billion to create a company with assets across satellite, spectrum, fiber and related technologies.

  • COLUMBUS, Ohio _ M/I Homes Inc. on Wednesday reported first-quarter profit of $18.1 million. The Columbus, Ohio- based company said it had net income of 60 cents per share. M/I Homes shares have dropped almost 7 percent since the beginning of the year.

  • CALGARY, Alberta _ Cenovus Energy Inc. on Wednesday reported a first-quarter loss of $517.5 million, after reporting a profit in the same period a year earlier. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share. This story was generated by Automated Insights using data from Zacks Investment...