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CNBC Utilities Page Wires

  • *Gucci takes off in United States, outperforms. PARIS, April 25- Booming sales growth at French luxury group Kering got even faster in the first quarter, sending its shares to record highs, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga. Instead its revenue growth accelerated in the first quarter, as sales in the...

  • BORACAY, Philippines, April 25- With postcard-perfect views of the Philippines' most treasured island behind them, labourers hammer away at the walls of the Boracay West Cove resort, demolishing them one chunk at a time. The resort is being reduced to piles of rock and steel rods, the first in a wave of demolitions of illegal structures on the tourist island of...

  • *Latest offer marks 4.3 pct premium to previous proposal. LONDON/ NEW YORK/ TOKYO, April 25- Rare disease specialist Shire said on Wednesday it was willing to recommend a sweetened $64 billion offer from Japan's Takeda Pharmaceutical Co to shareholders, in what would be the biggest acquisition of a drug company this year. Shire shares rose only 1.5 percent to 39.90...

  • PARIS, April 25- France's financial stability council will consider whether additional measures are necessary to rein in rapid credit growth, Bank of France governor Francois Villeroy de Galhau said on Wednesday. The country's High Council for Financial Stability has been concerned about record levels of private debt and heavy borrowing by large...

  • *China's Li took $9 bln stake in Daimler in Feb. BEIJING, April 25- German car maker Daimler AG's boss said on Wednesday there was no indication the firm's largest shareholder, Chinese auto magnate Li Shufu, was planning a hostile takeover after he took a $9 billion stake in the firm earlier this year. "We have no indication of plans for a hostile takeover, therefore we...

  • BEIJING, April 25- London aluminium dropped as much as 1.6 percent on Wednesday, retreating for a fifth straight session as the softening of U.S. sanctions on Russian producer United Company Rusal continued to weigh on prices. The metal has now slipped by around 13 percent from a high of $2,534.50 on April 23, the day the United States gave U.S. customers of Rusal...

  • *Indonesia prone to capital outflows due to high foreign ownership of govt bonds. JAKARTA, April 25- Indonesia's central bank on Wednesday urged businesses to hedge their foreign exchange needs beyond minimum requirements, as policymakers seek to mitigate risks of further capital outflows following the rupiah's slump. The U.S. dollar's broad rally since...

  • BEIJING, April 25- London aluminum dropped as much as 1.6 percent on Wednesday, retreating for a fifth straight session as the softening of U.S. sanctions on Russian producer United Company Rusal continued to weigh on prices. The metal has now slipped by around 13 percent from a high of $2,534.50 on April 23, the day the United States gave U.S. customers of Rusal more...

  • *Targeting 7-8 pct China sales growth, versus 15 pct in 2017. BEIJING, April 25- German luxury carmaker BMW expects the pace of growth of its China sales to almost halve this year, the firm's chief executive said on Wednesday, amid a broader slowdown in the world's largest auto market. The firm is targeting growth of 7-8 percent, versus 15 percent in 2017, BMW CEO Harald...

  • BEIJING, April 25- Chinese smartphone and smart device maker Xiaomi will cap income from its hardware business at 5 percent of total profits starting in 2018, as it looks to position itself as an internet services provider ahead of a highly-anticipated IPO. The promise comes as the company is looking to market its internet services business to investors ahead...

  • *Says will miss $63 mln savings target. *Now expects market supply deficit. OSLO, April 25- Norsk Hydro will miss its cost-cutting target this year and faces possible writedowns as its Brazilian operations work at reduced capacity following a spill, the Norwegian aluminium producer it said on Wednesday.

  • LONDON, April 25- European shares declined on Wednesday in early deals as worries over rising bond yields trumped a slew of well-received earnings updates from Kering and Credit Suisse, while Shire bounced after accepting an improved offer from Takeda. The pan-European STOXX 600 index was down 0.5 percent, pulling further away from its highest level since the...

  • PARIS, April 25- French oil and gas major Total said on Wednesday it was interested in Saudi Arabia's petrol station market and had signed a memorandum of understanding with Saudi Aramco to look at options, a spokesman said. The MOU was signed on April 10 during a visit by Saudi Crown Prince Mohammed bin Salman to Paris, the spokesman said, a trip that saw the signing...

  • LONDON, April 25- Bond yields in the euro area rose on Wednesday as a selloff in U.S. Treasuries gathered pace, although a looming European Central Bank meeting injected a note of caution into regional debt markets. But analysts said they expected any selling in Europe to be limited a day ahead of the ECB meeting.

  • LONDON, April 25- Britain's Lloyds Banking Group said it would not cancel its preference shares following investor complaints about the possibility after insurer Aviva abandoned its plans to scrap the high-yielding shares. George Culmer, the bank's chief financial officer, provided the reassurance on Wednesday as Lloyds reported first-quarter profits...

  • *Shanghai stocks lower, blue-chip CSI300 index down. *Losses in Shanghai stocks led by Hunan Baili Engineering Sci& Tech Co Ltd. SHANGHAI, April 25- China stocks closed down on Wednesday as gains in healthcare firms were offset by losses in real estate and energy shares.

  • PARIS, April 25- Kering shares rose to record highs on Wednesday after booming first quarter sales growth at the French luxury company, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga. Kering shares were up 5.7 percent at around 464 euros in early session trading, touching new record highs.

  • DUBLIN, April 25- Irish building materials group CRH launched its first share buyback programme in a decade on Wednesday and also announced a new target to raise 1.5- 2.0 billion euros from selling assets. Big spending CRH, which committed almost 5 billion euros to acquisitions last year, has also been quick to sell any business it deems to no longer meet its...

  • DUBLIN, April 25- Irish building materials group CRH launched its first share buyback program in a decade on Wednesday and also announced a new target to raise 1.5- 2.0 billion euros from selling assets. Big spending CRH, which committed almost 5 billion euros to acquisitions last year, has also been quick to sell any business it deems to no longer meet its returns...

  • Brent crude oil futures were at $73.71 per barrel at 0655 GMT, down 15 cents, or 0.2 percent, from their last close and almost $1.8 below the November-2014 high of $75.47 a barrel reached the previous day. West Texas Intermediate futures were down 12 cents, or 0.2 percent, at $67.58 a barrel, also off the late-2014 highs of $69.56 a barrel marked earlier in April.