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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • *Shanghai copper stocks fall, first drop in two months. LONDON, March 20- Copper prices climbed on Friday to a near three-week high after Chinese inventories fell for the first time in two months, a signal that demand in the top metals consumer is slowly recovering after a holiday. Prices also gained support from supply concerns as a blockade of the Grasberg mine in...

  • *Nike climbs in premarket after results, outlook. March 20- U.S. stocks were poised for a higher open on Friday, with the S&P 500 on track to snap a three-week losing skid, buoyed by Nike earnings, as investors assessed the impact of a stronger dollar on corporate earnings. Dow component Nike's rose 5.2 percent to $103.42 in premarket after it posted a quarterly profit...

  • DETROIT, March 20- U.S. new-vehicle sales in March rose only 0.3 percent from a year ago, consultancies J.D. Power and LMC Automotive said on Friday.

  • WASHINGTON, March 20- Child car seat maker Graco will pay a $10 million fine for failing to give timely notice of car seats with defective buckles, ending a federal investigation into the nation's largest recall of child seats, the U.S. regulators and the company said on Friday. Graco Children's Products Inc, a unit of Newell Rubbermaid Inc, agreed to pay $3 million...

  • LONDON, March 20- The euro was on track for its best weekly performance in more than two years against the dollar on Friday, after the U.S. HSBC, one of the top half a dozen players in the foreign exchange market, on Thursday raised its euro forecast to $1.20 by the end of 2017, arguing that the dollar's explosive rally was nearing its end. The euro was 0.6 percent higher...

  • OTTAWA, March 20- Canada's annual inflation rate held at the lower end of the Bank of Canada's target range in February as it was pressured by cheaper gasoline prices, data from Statistics Canada showed on Friday. That kept inflation at its lowest since November 2013. The Bank of Canada, which has a target range of 1 percent to 3 percent, expects total inflation will...

  • *Share exchange ratio altered in Holcim's favour. PARIS/ ZURICH, March 20- Switzerland's Holcim and France's Lafarge have agreed new terms for their plan to create the world's top cement firm, giving unhappy shareholders in the Swiss firm a better deal but leaving a key leadership question unanswered. The companies also agreed that Lafarge boss Bruno Lafont...

  • LONDON, March 20- The euro headed for its best week in more than two years on Friday while yields on low-rated bonds fell as investors welcomed the Fed's caution on rate hikes and a reform pledge from Athens that could avert a cash crunch. Illustrating the problems low inflation is causing for central banks looking to normalise monetary policy in countries such...

  • March 20- Simon Property Group Inc, the No.1 U.S. mall owner, raised its offer for Macerich Co three days after its smaller rival rejected its earlier offer, adopted a poison pill and changed board structure to prevent a hostile takeover. Simon Property raised on Friday its cash-and-stock offer for Macerich to $95.50 per share from $91.00. Simon Property said its...

  • SHANGHAI, March 20- China Shenhua Energy Co Ltd, China's biggest coal miner, posted a 19.4 percent fall in 2014 net profit on Friday citing a supply glut and slower demand growth that hurt prices. Seventy percent of China's coal miners are losing money, hurt by chronic oversupply, cooling demand growth and a government environmental campaign.

  • LONDON, March 20- Greek government bond yields fell on Friday, after Prime Minister Alexis Tsipras assured European Union creditors that he would soon present a full set of economic reforms to unlock cash and stave off bankruptcy. The joint statement by the EU institutions spoke of a "spirit of mutual trust," but German Chancellor Angela Merkel stressed no money...

  • NEW DELHI, March 20- India's parliament passed two bills on Friday to auction mines that produce minerals such as coal, iron ore and bauxite, in a boost for Prime Minister Narendra Modi's bid to kickstart an industry that has languished for years. The Mines and Minerals Development and Regulation, and Coal Mines Special Provisions bills were seen as a test of the...

  • March 20- Olive Garden owner Darden Restaurants Inc reported a quarterly profit above analysts' estimates due to cost-cutting and better-than-expected sales at its chains such as LongHorn Steakhouse and Yard House. Customer visits have been falling for more than a year at Olive Garden, which accounts for more than half of Darden's revenue.

  • MOSCOW, March 20- Russian businessman Filaret Galchev, who owns shares in Switzerland's Holcim via Eurocement Holding AG, declined to comment on Friday on the new terms of the firm's merger with France's Lafarge. Holcim and Lafarge have agreed new terms for their plan to create the world's biggest cement company, giving unhappy shareholders in the Swiss firm a...

  • TAIPEI/ TOKYO, March 20- Taiwan's Hon Hai Precision Industry Co is considering joining efforts to help rescue Japanese electronics maker Sharp Corp, the company said in a statement late on Friday. The world's largest contract electronics manufacturer, Hon Hai bought a 38 percent stake in a Sharp Corp TV panel plant in Sakai, Japan in 2012. It has been investing in...

  • March 20- Simon Property Group Inc, the largest U.S. shopping mall owner, raised its offer for smaller rival Macerich Co to $95.50 per share in cash and stock. Macerich rejected on Tuesday Simon Property's earlier offer of $91 per share and adopted a poison pill to prevent a hostile takeover. Simon Property said on Friday that the offer, which has an enterprise value...

  • New York- based Tiffany in January had cut its profit forecast for the year, saying the stronger dollar not only reduced the value of sales outside the United States, but also hurt sales to tourists in the country. Tourists spend more than $200 billion annually in the United States, but growth in 2015 is expected to decelerate as would-be visitors balk at the...

  • BEIJING, March 20- The China-led Asian Infrastructure Investment Bank will be formally established by the end of 2015, China's finance minister said on Friday, adding that Beijing was communicating with the United States and Japan over its formation. The bank would complement rather than compete with other institutions, including the Asian Development...

  • *Europe equities enjoy $42 bln of inflows in past 10 weeks. Athens' benchmark ATG jumped 2.8 percent after Greek Prime Minister Alexis Tsipras assured European Union creditors at late-night crisis talks in Brussels that his coalition would soon present a full set of economic reforms in order to unlock cash to stave off bankruptcy. Bank of America-Merrill...

  • *Russia, Belarus, Kazakhstan face economic challenges. ASTANA, March 20- President Vladimir Putin proposed on Friday creating a regional currency union with Belarus and Kazakhstan, Russia's partners in a political and economic union made up of former Soviet republics. The Russian rouble's decline has hit former Soviet trading partners such as Belarus and...