CNBC Utilities Page Wires

  • *SocGen agrees to pay $1.3 bln for sanction violations. PARIS/ WASHINGTON, Nov 19- French banking giant Societe Generale on Monday agreed to pay U.S. federal and state authorities $1.4 billion to resolve pending legal disputes. The bank agreed to pay $1.34 billion to settle investigations into its handling dollar transactions in violation of U.S. sanctions...

  • Nov 19- European Union authorities are cracking down on blood pressure medicine valsartan made by a unit of Mylan NV after an impurity was found in some batches of the treatment. The batches affected were made in Mylan's Hyderabad facility in India and were found to contain N-nitrosodiethylamine, a carcinogen, the European Medicines Agency said...

  • WASHINGTON, Nov 19- Federal Reserve governor Randal Quarles is to become the new head of the Financial Stability Board, the international body that helps monitor and safeguard financial stability globally, two people familiar with the process said. He will replace Mark Carney, the Bank of England governor whose term ends this year. Klaas Knot, president of the...

  • Nov 19- Kroger Co has chosen its hometown of Cincinnati for the first of 20 high-tech warehouses it plans to build with online grocer Ocado Group Plc.. Kroger, the largest U.S. supermarket operator, is battling Walmart Inc and Amazon.com Inc for dominance in the small, but fast-growing online segment that accounts for anywhere from 1 percent to 4 percent of the...

  • RIO DE JANEIRO, Nov 19- A University of Chicago- trained economist named as the next chief of Brazil's Petrobras threw his support behind the sale of the state oil company's non-core assets and called for it to focus on exploration and production. Roberto Castello Branco on Monday was named by Brazil's incoming far-right government as the next chief executive...

  • NEW YORK, Nov 19- U.S. stocks tumbled on Monday, with the S&P 500 and Dow Jones industrial Average shedding about 2 percent and the Nasdaq down more than 3 percent. A slide in Apple's shares to their lowest since July 6 battered the technology sector on concerns about iPhone demand, with mixed signals over the state of play between the United States and China on their...

  • HOUSTON, Nov 19- United Steelworkers union locals representing 30,000 U.S. oil refinery and chemical plant workers ratified terms for contract proposals in negotiations that are to start in January, the union said on Monday. The proposals, which include an 8 percent pay increase for each year of a three-year agreement, were developed by the USW's National Oil...

  • *Palladium off all-time high of $1,185.40/ oz. Spot gold was 0.2 percent higher at $1,224.13 per ounce by 13:45 p.m. EST after hitting a one-week high of $1,225.29 in the previous session. U.S. gold futures settled up $2.30, or 0.2 percent, at $1,225.30.

  • US 10- YEAR TREASURY YIELDS FALL TO 3.056 PCT, LOWEST SINCE OCT. 3.

  • MUMBAI/ NEW DELHI, Nov 19- The board of India's central bank advised it to act to support small businesses and give banks more time to step up capital norms, following weeks of pressure from Prime Minister Narendra Modi's government to spur lending ahead of elections. After a nine-hour board meeting on Monday, the Reserve Bank of India said its board also decided to...

  • From 2003 to 2013, the bank executed billions of dollars in illegal transactions to parties in countries subject to embargoes or otherwise sanctioned by the United States, including Iran, Sudan, Cuba and Libya, the authorities said. The fines were issued by the Federal Reserve, U.S. Department of Justice, the U.S. Treasurys Office of Foreign Assets Control, the New...

  • Nov 19- The Dow Jones Industrial Average shed more than 400 points on Monday, as a slump in Apple shares battered the tech sector, with conflicting signals over the state of play between the United States and China on their trade dispute kept investors on edge. Shares of Apple Inc fell 3.8 percent after the Wall Street Journal reported the company had cut...

  • *OPEC expected to cut supply to prevent glut. *Russia says it will discuss deal with OPEC on Dec. 6. NEW YORK, Nov 19- Brent crude futures fell in choppy trade on Monday, under pressure from growing supply but supported by a reported drawdown of U.S. oil inventories, potential European Union sanctions on Iran and possible OPEC production cuts.

  • BRUSSELS/ ROME, Nov 19- Italy will stick with its 2019 budget plan despite criticism from the European Commission but talks are continuing, Economy Minister Giovanni Tria said on Monday after attending a meeting of euro zone finance ministers. Italy is at loggerheads with the Commission and many fellow euro zone governments over its big-spending budget.

  • BOGOTA, Nov 19- Colombia's main mining industry group said on Monday it was optimistic a new tax bill that includes a cut to corporate taxes will help attract more foreign investment, allowing companies to boost exploration and output in the coming years. "This law, which was a campaign promise, helps guarantee the competitiveness of the industry that competes in...

  • Speaking to reporters after his team named Chicago University- trained economist Roberto Castello Branco as the next chief executive of Petrobras, Bolsonaro said its outgoing boss, Ivan Monteiro, could go to state-run Banco do Brasil, the country's largest, although no decision has been taken.

  • LONDON, Nov 19- British Prime Minister Theresa May vowed on Monday to stick to her draft European Union divorce deal as dissenting lawmakers in her own party tried to trigger a leadership challenge. May has pledged to fight on, warning that toppling her risks delaying Britain's exit from the EU, or leaving without a deal, a step that could thrust the world's fifth...

  • CHICAGO, Nov 19- U.S. soybean futures fell nearly 2 percent to a 10- day low on Monday as a lack of consensus at a meeting of Asia-Pacific leaders cooled hopes that Washington and Beijing may resolve a trade dispute which has disrupted U.S. soybean exports to China. Asia-Pacific leaders failed to agree on a communique at a summit in Papua New Guinea on Sunday for the...

  • LONDON/ MILAN, Nov 19- European shares resumed their slide on Monday to end at a three-week low as tech stocks came under fresh selling pressure on worries over Apple's iPhone demand and as carmaker Renault sank after the arrest of its CEO for alleged financial misconduct. Renault was the top faller on the STOXX 600 after its CEO Carlos Ghosn, who is also chairman of...

  • PARIS, Nov 19- Protesters angered by higher fuel taxes blocked access to three oil depots in France and sporadic unrest erupted in the overseas territory of Reunion, in a third day of demonstrations against President Emmanuel Macron's economic reforms. Up to 20,000 protesters clad in fluorescent high-visibility jackets blocked highways across France with...