CNBC Utilities Page Wires

  • *Poland, Germany, Czech Republic halt Russian pipeline imports. *Saudis, allies can compensate for Iran supply loss- Rystad. LONDON, April 25- Brent oil rose above $75 per barrel on Thursday for the first time this year as quality concerns forced the suspension of some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran.

  • *Iraq to stay within output limits in OPEC- led deal. BAGHDAD, April 25- Iraq's oil minister said on Thursday his country had the capacity to increase its oil production to 6 million barrels per day if needed, but it was committed to OPEC- led output cuts and would not take unilateral action to boost supply. Thamer Ghadhban also said there were no acute oil shortages for...

  • NEW DELHI/ BENGALURU, April 25- Maruti Suzuki India Ltd said on Thursday it would stop making all diesel cars beginning April next year and forecast a weak rate of growth for the current fiscal year, blaming uncertain fuel prices and the onset of stricter emission norms. Carmakers will need to invest in upgrading their technology, including for diesel cars, to meet...

  • April 25- Drugmaker AbbVie Inc's quarterly revenue beat Wall Street estimates on Thursday, as the decline in sales of its blockbuster rheumatoid arthritis drug Humira was not as steep as expected. The company also raised its adjusted earnings forecast for the year to between $8.73 and $8.83 per share from $8.65 to $8.75 to reflect continued business momentum.

  • Investors are assessing earnings reports from some of the biggest U.S. companies this week to see if the strong run-up in market since the start of the year is justified as the main Wall Street indexes hover below all-time highs. "As the earnings season gains potency, the missing link to a stronger upward move is low volume, suggesting a cautious attitude by...

  • NEW DELHI, April 25- Indian tax authorities have alleged that a number of big multinational companies have not passed on benefits from a tax cut to customers, a senior government official told Reuters. Separately, the authorities are also investigating South Korea's Samsung Electronics and U.S. drug maker Johnson& Johnson among others, the senior government...

  • Gold production rose nearly two percent to 1.23 million ounces in the quarter, but the average realized gold price fell by $26 to $1,300 per ounce. Newmont closed its $10 billion acquisition of Goldcorp Inc last week, creating the world's biggest gold producer with assets across the Americas, Africa and Australia. Adjusted net income fell to $176 million, or 33...

  • RIYADH, April 25- Saudi Arabia's sovereign wealth fund Public Investment Fund is "not in a hurry" to issue bonds but is assessing several funding options, an executive said on Thursday. Last year the fund raised an $11 billion international syndicated loan, its first commercial borrowing, and sources told Reuters this month it has been in talks with banks to raise a...

  • April 25- United Parcel Service Inc on Thursday blamed harsh winter weather in the United States as it reported a lower-than-expected first-quarter profit, sending the world's biggest package delivery company's shares down 1.2 percent before the bell. UPS's operating profit in its U.S. domestic business, its biggest, fell 12 percent to $666 million in the...

  • April 25- British American Tobacco Plc expects another year of good earnings growth in 2019, despite concerns of tighter regulations in the U.S., Chairman Richard Burrows said at the company's annual general meeting on Thursday. The world's second-largest tobacco company, in February, forecast "another year of high single figure adjusted constant currency...

  • ZHUHAI, China, April 25- China is leading the U.S. in a race to deploy hypersonic missiles that would defeat existing air defense systems, according to senior U.S. officials. Pacific Command, told the House Armed Services Committee in February last year that hypersonic weapons were one of a range of advanced technologies where China was beginning to outpace the...

  • ZHUHAI, China, April 25- China's powerful military is considered to be a master at concealing its intentions. China's military is now making giant strides toward replacing the United States as the supreme power in Asia. Across almost all categories of these weapons, based on land, loaded on strike aircraft or deployed on warships and submarines, China's missiles...

  • SINGAPORE/ PARIS, April 25- Chicago soybean futures edged higher on Thursday after suffering losses for the last three sessions, triggered by dismal prospects for U.S. exports and abundant world supplies. The most active soybean contract on the Chicago Board of Trade was up 0.4 percent at $8.72 a bushel as of 1030 GMT. Wheat production in the Black Sea region,...

  • April 25- United Parcel Service Inc reported a 17.4 percent fall in first-quarter profit on Thursday, hurt by severe winter weather in the United States. Net income fell to $1.11 billion, or $1.28 per share, in the quarter ended March 31, from $1.35 billion, or $1.55 per share, a year earlier. UPS earned $1.39 per share on an adjusted basis.

  • Valero has been substituting light crude oil from North America and other sources to make up for the lack of Venezuelan heavy crude. Valero said refining margins, or the difference between crude prices and average selling price of refined products, fell about 10 percent to $2 billion in the first quarter ended March 31. Net income attributable to Valero fell to...

  • April 25- Verizon Communications Inc started taking preorders for Samsung's first 5 G smartphone in the United States on Thursday, and said it would launch the high-speed wireless service in 20 more cities after Chicago and Minneapolis. Users in Chicago and Minneapolis can currently use Verizon's 5 G network by using a Motorola Z3 mobile and a 5 G "Moto Mod," a...

  • NEW YORK, April 25- U.S drugmaker Bristol-Myers Squibb Co, which is set to buy biotechnology company Celgene Corp for $74 billion, posted slightly better-than-expected first-quarter earnings on Thursday on strong sales of its blockbuster blood thinner Eliquis. Net earnings in the quarter rose to $1.71 billion, or $1.04 a share, from $1.49 billion, or 91 cents a...

  • April 25- Comcast Corp reported first-quarter profit on Thursday that beat Wall Street estimates, boosted by strong additions of high-speed internet customers in a quarter that painted another mixed picture for the biggest U.S. cable provider. Philadelphia- based Comcast said it lost 121,000 video customers in the quarter, more than the 29,000 it lost last...

  • LONDON, April 25- Robusta coffee fell to the lowest level in more than three years on Thursday, weighed down by producer and speculative selling against the backdrop of surplus supplies. *July robusta coffee fell $13, or 0.9 percent, to $1,378 a tonne by 1041 GMT, after dipping to a low of $1,369, the weakest for the second position since March 2016.

  • FRANKFURT, April 25- Deutsche Bank and Commerzbank abandoned their merger talks on Thursday, with the risks of doing a deal, restructuring costs and capital demands dashing efforts to forge a German mega-bank. After nearly six weeks of talks, Germany's two largest banks announced that their high-level negotiations about a tie-up had ended, confirming an...