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CNBC Utilities Page Wires

  • Tariffs on $34 billion worth of Chinese goods, the first of a potential total of $450 billion, are due to take effect on July 6 over U.S. complaints that China is misappropriating U.S. technology through joint venture rules and other policies. The Treasury investment restrictions are expected to target key sectors, including several China is trying to develop as...

  • *China, auto shares take the brunt of Trump's trade war. *Oil prices give up gains as OPEC agrees on output hike. TOKYO, June 25- Asian shares fell on Monday on escalating trade tensions between the United States and major economies while oil prices gave up some of their hefty gains made after major oil producers agreed to a modest increase in production.

  • *Who can and who can't raise crude output within OPEC: https://reut.rs/2M8auJY. The Saudis appear to have emerged as the winners from last week's meeting of the Organization of the Petroleum Exporting Countries, and the subsequent talks between OPEC and its allies in the deal to restrict output. The market consensus after the OPEC meeting in Vienna on June 22,...

  • TOKYO, June 25- Japan's Nikkei share average dropped on Monday morning in choppy trade as sellers targeted large caps including Fast Retailing and SoftBank as well as defensive stocks, while miners rallied after oil prices jumped on Friday. Sharp Corp stumbled 4.9 percent to 2,497 yen, the lowest since December 2016 after the company said it will issue 78.4...

  • BEIJING— China says it will cut the amount of money most banks are required to keep on hand to free up funding for small businesses, amid a brewing trade war with the United States. On July 6, the United States is set to slap tariffs on $34 billion in Chinese goods to punish Beijing for its attempts to supplant U.S. technological dominance. Beijing has vowed to...

  • MELBOURNE, June 25- London copper prices on Monday climbed away from their lowest level in more than three weeks, hit the session before after China cut banks' reserve requirements, improving liquidity and the prospects for metals demand. Shanghai Futures Exchange copper rose by 0.6 percent to 52060 yuan a tonne. *CHINA RRR: China's central bank said on Sunday it...

  • SHANGHAI, June 25- China's share markets opened higher on Monday after a decision by the country's central bank to cut banks' reserve requirement ratios, while the yuan and bond prices fell. The People's Bank of China said late on Sunday that it would cut the amount of cash that some banks must hold as reserves by 50 basis points, releasing $108 billion in liquidity,...

  • SYDNEY June 25- Commonwealth Bank of Australia on Monday said it would step up plans to offload its wealth management businesses as it looks to become a smaller lending-focused bank, as well as announcing an overhaul of its executive ranks. "Today's announcement... responds to continuing shifts in the external environment and community expectations, and...

  • HONG KONG/ SHANGHAI, June 25- China's Meituan-Dianping, an online food delivery-to-ticketing services platform, filed for a Hong Kong IPO on Monday- an offering that aims to raise more than $4 billion, three people with knowledge of the plans said. The company booked 33.9 billion yuan in revenue in fiscal 2017, sharply higher than the 12.99 billion yuan made in the...

  • Citing people familiar with the matter, the newspaper said the U.S. National Security Council and Commerce Department were also devising plans for "enhanced" export controls to keep such technologies from being shipped to China. The White House on May 29 said the Trump administration would press ahead with restrictions on investment by Chinese companies in...

  • BENGALURU, June 25- Gold prices edged up on Monday as a buoyant euro kept the dollar off its 11- month highs, with trade issues between the United States and the European Union further supporting the bullion. President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20 percent tariff on all U.S. imports of European Union-...

  • SYDNEY, June 25- U.S. soybeans fell 1 percent on Monday as heightened trade tensions between the United States and China depressed prices. *The grain and soybean complex came under pressure amid escalating trade tensions between the United States and China. *The buoyant euro kept the dollar from hitting an 11- month high on Monday, with trade issues between the...

  • WASHINGTON, June 24- The U.S. Treasury Department is crafting rules that would block firms with at least 25 percent Chinese ownership from buying U.S. companies involved in "industrially significant technology," the Wall Street Journal reported on Sunday. It also said the U.S. National Security Council and Commerce Department were devising plans for "enhanced"...

  • *China, auto shares take the brunt of Trump's trade war. *Oil prices maintain gains after OPEC agrees on output hike. President Donald Trump plans to bar many Chinese companies from investing in U.S. technology firms and block additional technology exports to China.

  • June 25- China's Meituan-Dianping, an online food delivery-to-ticketing services platform, filed for a Hong Kong initial public offering on Monday. The company booked 33.93 billion yuan in revenue in fiscal 2017, sharply higher than the 12.99 billion yuan made in the prior year, the filing said. Meituan-Dianping has mandated Bank of America Merrill Lynch,...

  • TOKYO, June 25- U.S. stock futures fell more than 0.5 percent on Monday after the Wall Street Journal reported that U.S. President Donald Trump plans to bar many Chinese companies from investing in U.S. technology firms. The S&P500 mini futures fell more than 0.5 percent in early Asian trade.

  • Union workers at Bombardier's Downsview plant in Canada's largest city Toronto assemble several large-cabin business jets, along with the Q400 turboprops. The union talks follow Bombardier's May announcement that it had agreed to sell the sprawling Downsview site, the company's largest land asset, to a Canadian pension fund for about $635 million.

  • INVESTMENT BAR WOULD NOT DISTINGUISH BETWEEN CHINESE STATE-OWNED OR PRIVATE CHINESE COMPANIES, WALL STREET JOURNAL SAYS.

  • TRUMP ADMINISTRATION WOULD LOOK ONLY AT NEW DEALS IN IMPOSING POTENTIAL INVESTMENT RESTRICTIONS AND WOULD NOT TRY TO UNWIND EXISTING ONES, WALL STREET JOURNAL SAYS.

  • SINGAPORE, June 25- Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries in Vienna on Friday. OPEC and non- OPEC partners including Russia have since 2017 cut output by 1.8 million barrels per day to tighten...