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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • NEW YORK, Feb 24- Brent and U.S. crude futures turned lower on Tuesday as expectations that this week's reports on U.S. crude inventories would show another build countered supportive news of Libyan oilfields being shut by a power cut, traders said. Brent April crude was down 25 cents at $58.65 a barrel at 2:23 p.m. EST, after trading as high as $60.30.

  • CALGARY, Alberta, Feb 24- Cash flows from the Canadian oil sands will fall by $23 billion and turn negative in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low crude prices make it less economical to extract tar-like bitumen from the sands. The oil sands of northern Alberta hold the world's third-largest proven crude...

  • AMSTERDAM, Feb 24- A country could in theory leave the euro zone if it wanted to, European Central Bank policymaker Luc Coene said, but he added that he could not imagine which nation would want to do so. Coene told Dutch daily De Telegraaf that a lack of confidence in the euro project among the currency union's citizens arose because it was approached in an...

  • CRUDE FUTURES TURN LOWER ON EXPECTATIONS U.S.

  • Feb 24- An experimental therapeutic vaccine from Danish drugmaker Bavarian Nordic helped significantly extend survival in patients with advanced prostate cancer, according to results of a small early-stage trial conducted by the U.S. National Cancer Institute. Patients were treated with the company's Prostvac vaccine, in addition to escalating doses of...

  • LONDON, Ontario, Feb 24- The Bank of Canada's surprise rate cut last month bought the central bank time to see how the economy responds to a plunge in oil prices, Governor Stephen Poloz said on Tuesday in the bank's last pronouncement before its March 4 rate decision. The market has priced in nearly a 75 percent chance of a rate cut on March 4, but Deputy Governor Agathe...

  • BRASILIA, Feb 24- The Brazilian government is working on a plan to save up around 80 billion reais this year to meet a fiscal goal that is crucial to regain investors' trust, a senior lawmaker and a government official said on Tuesday. His comments suggest the government will likely continue to raise taxes to reach its primary fiscal surplus goal of 66 billion reais,...

  • BUENOS AIRES, Feb 24- The Argentine spy at the center of a scandal over last month's death of a state prosecutor was accused on Tuesday of importing tonnes of contraband merchandise during his final years as head of the country's counterintelligence office. Antonio Stiuso was forced out of the SI intelligence service in December, weeks before state prosecutor...

  • WASHINGTON, Feb 24- Three regional Federal Reserve banks in January repeated an unsuccessful push to have the U.S. central bank increase the interest rate charged to commercial banks for emergency loans, according to minutes from Fed board meetings released on Tuesday. Ahead of the Fed's Jan. 27-28 policy-setting meeting, directors of the Philadelphia, Kansas...

  • Federal Reserve Chair Janet Yellen warned Congress on Tuesday against a bid to crack down on currency cheats and said adding currency rules to trade deals could hobble monetary policy. "I would really be concerned by a regime that would introduce sanctions for currency manipulation into trade agreements when it could be the case that it would hamper or even...

  • France's third-largest listed bank said that it would also propose that Xavier Musca, currently one of several deputy CEOs, be appointed second executive director. The mutuals are eager to tighten their grip on CASA after it suffered heavy losses on acquisitions in Greece and Portugal that went sour in recent years under Chifflet's leadership.

  • Rolls-Royce names Marion Blakey as North America CEO Tuesday, 24 Feb 2015 | 1:47 PM ET

    Feb 24- Rolls-Royce Holdings Plc named Marion Blakey as chief executive of its North America business to replace James Guyette, who will retire in May. Blakey is the CEO of the Aerospace Industries Association trade group. She has also been the administrator of the U.S. Federal Aviation Administration.

  • RIYADH, Feb 24- Oil prices have started to stabilise around current levels of $60 a barrel and demand is showing signs of improving in Asia and other regions, a senior Gulf OPEC delegate said on Tuesday. Prices collapsed from $115 in June due to oversupply, in a decline that deepened after OPEC refused to cut output. The price decline since last year has hurt the...

  • DETROIT, Feb 24- Toyota Motor Corp's Lexus brand finished on top of the Consumer Reports annual "brand report card" for the third straight year, the influential U.S. magazine said on Tuesday. Toyota came in third, followed by Volkswagen AG's Audi from Germany and Fuji Heavy Industries Ltd's Subaru from Japan. Ranking eighth through 10th were namesake brands from...

  • Credit Agricole taps regional exec Brassac as new CEO Tuesday, 24 Feb 2015 | 1:38 PM ET

    PARIS, Feb 24- Credit Agricole said Philippe Brassac, a senior executive at its network of regional mutuals, would become chief executive after Jean-Paul Chifflet's steps down in May. France's third-largest listed bank said that it would also propose that Xavier Musca, currently one of several deputy CEOs, be appointed second executive director.

  • NEW YORK, Feb 24- A former analyst for hedge fund Two Sigma Investments pleaded guilty in New York state court on Tuesday to stealing proprietary trading models from his employer. "Computer source codes and proprietary trading methods are often the lifeblood of a company's business model, and stealing them is a crime," Manhattan District Attorney Cyrus Vance...

  • CALGARY, Alberta, Feb 24- Oil sands cash flows will fall by $23 billion in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low global petroleum prices make it less economical to extract bitumen from northern Alberta. Canada's oil sands hold the world's third-largest proven crude reserves after Saudi Arabia and Venezuela, but...

  • LOS ANGELES, Feb 24- Sony Pictures Entertainment on Tuesday named long-time industry executive Tom Rothman as chairman of its motion picture group after Amy Pascal leaves the post in the wake of embarrassing emails. Rothman, 60, has been chairman of TriStar Productions, a joint film and television venture with Sony, since 2013. He previously was at Fox Filmed...

  • WHITE HOUSE SAYS OBAMA WILL VETO BILL REQUIRING HIS ADMINISTRATION TO APPROVE KEYSTONE XL PIPELINE FROM CANADA ON TUESDAY.

  • WHITE HOUSE SAYS CONGRESS HAS SENT TEXT OF KEYSTONE BILL TO WHITE HOUSE.