CNBC Utilities Page Wires

  • WASHINGTON, Feb 22- The Trump administration will fall "a little under" its target of 3 percent annual growth of gross domestic product for 2018, the Federal Reserve said Friday in a report that offers an economic scorecard of sorts for the first full year of President Donald Trump's term. Though growth for the year was "solid," the Fed said, gross domestic product "...

  • Sinovac is seeking to defend itself against a group of shareholders, including investment firms 1 Globe Capital LLC, Chiangjia Li and OrbiMed Advisors LLC, which own 40 percent of the company. In the press release, which has not yet been made public, Sinovac said its board determined that 1 Globe Capital, Chiangjia Li and OrbiMed Advisors met the triggering...

  • Feb 22- China committed to buy an additional 10 million metric tons of U.S. soybeans in a meeting in the Oval Office on Friday, U.S. Agriculture Secretary Sonny Perdue said on Twitter. The commitments are a "show of good faith by the Chinese," Perdue said.

  • WASHINGTON, Feb 22- The U.S. Justice Department on Friday said it had filed complaints seeking forfeiture and recovery of approximately $38 million in assets associated with its 1 Malaysia Development Berhard, or 1 MDB, case, bringing the assets now subject to forfeiture to a total of approximately $1.7 billion. These new lawsuits target assets collected by...

  • S&P 500 POSTS HIGHEST CLOSING LEVEL SINCE NOV. 8.

  • NEW YORK, Feb 22- U.S. stocks climbed and the Dow and Nasdaq posted a ninth straight week of gains on Friday as investors clung to signs of progress in the ongoing trade talks between the United States and China.

  • *China struggle to bridge trade gaps, more time seen likely. NEW YORK, Feb 22- Oil prices touched their highest since mid-November on Friday and posted weekly gains for the second week in a row, boosted by hopes that U.S.- China trade talks would soon produce a deal, although new record U.S. oil supply limited gains. West Texas Intermediate crude futures gained 30...

  • * "The USDA sales and exports report this morning was disappointing," said Keith Brown, principal at cotton brokers Keith Brown and Co in Moultrie, Georgia. *Data from the U.S. Department of Agriculture showed net sales of 977,100 running bales for the fiber in the 2018/ 19 marketing year. * "U.S. net export sales and shipments for the six-week period ending Feb. 14 were less...

  • *Trump may extend March 1 deadline for U.S.- China trade talks. *China agrees to buy up to $1.2 trillion in U.S. goods-CNBC. Trump also said on Friday that if he saw progress in trade talks with China, he might be inclined to extend negotiations beyond a March 1 deadline, and suggested it was likely the globe's two largest economies would be able to make a deal.

  • During that time the Russell 1000 Growth index has fared even better with a gain of almost 20 percent while the Russell 1000 Value index has lagged with a gain of about 17 percent. Shortly after the S&P hit its most recent record on Sept. 20, thanks to the outperformance by growth, especially technology stocks, the spread between the Russell 1000 growth and value...

  • President Donald trump said on Friday he may or may not include Chinese telecommunications companies Huawei Technologies and ZTE Corp in the trade deal currently being negotiated between the United States and China. The Justice Department has charged Huawei and its chief financial officer with conspiring to violate U.S. sanctions on Iran by doing...

  • NEW YORK, Feb 22- U.S. stocks were higher in afternoon trading on Friday but pared gains after U.S. officials said the United States and China still have issues to resolve in their ongoing trade talks. People briefed on the talks said more time is likely needed in the talks given China's resistance this week to U.S. demands for specific steps by Beijing to end forced...

  • President Donald Trump said on Friday that if he sees progress being made in trade talks with China, he may be inclined to extend negotiations beyond a March 1 deadline, and suggested it was likely the globe's two largest economies would be able to make a deal. Washington and Beijing are engaged in negotiations intended to ease trade tensions ahead of that...

  • NEW YORK/ SAN FRANCISCO, Feb 22- Federal Reserve policymakers are coalescing around a plan to stop trimming their $4 trillion balance sheet later this year, remarks from three U.S. central bankers showed on Friday. "When we started the normalization journey, I promised that it would be the policy equivalent of watching paint dry and it certainly was, for over a year,"...

  • LONDON/ BOCA RATON, Fla., Feb 22- Mounting troubles at Kraft Heinz, revealed late on Thursday with a triple-punch of bad news, call into question its reliance on cost-cutting as a way to generate profit growth. Late on Thursday, it revealed a $15.4 billion write-down tied to its Kraft and Oscar Mayer brands, slashed its dividend by about a third and disclosed an SEC...

  • MOJAVE, Calif., Feb 22- A Virgin Galactic rocket plane on Friday soared to the edge of space with a test passenger for the first time, nudging British billionaire Richard Bransons company closer to its goal of suborbital flights for space tourists. Virgin Galactics chief astronaut instructor Beth Moses, who will train future space tourists, joined pilots onboard...

  • Feb 22- Intel Corp executives said on Friday that its modem chips will not appear in phones until 2020.. Intel's major customer for modem chips, which help phones connect to wireless data networks, is Apple Inc.. It is unclear whether Intel's timing on modem chips means that Apple will not have an iPhone with 5 G capabilities in 2019.

  • WASHINGTON, Feb 22- China has agreed to buy up to $1.2 trillion in goods from the United States as part of the current negotiations to end the trade war between the countries, CNBC reported on Friday, citing sources familiar with the situation. CNBC said though that the two sides remain far apart on a key issue for the United States: the forced transfer of...

  • NEW YORK/ LONDON, Feb 22- Raw sugar futures on ICE climbed on Friday, buoyed by a rise in crude oil to 2019 highs while arabica coffee prices inched up, pulling away from the prior session's five-month low. *May raw sugar settled up 0.1 cent, or 0.8 percent, at 13.30 cents per lb. *Oil prices touched more than three-month highs on Friday, supported by rising hopes that the...