×

CNBC Utilities Page Wires

  • *Real increase for OPEC, Russia seen around 770,000 bpd. *Trump says hopes OPEC will increase "substantially". VIENNA, June 22- OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to curb rising fuel costs.

  • LONDON, June 22- Private equity firm Terra Firma has approached IWG about a possible bid for the $3.8 billion London- listed serviced office provider and entering a takeover battle for the company, according to two people with knowledge of the matter. If Terra Firma, which was founded by financier Guy Hands, makes a bid, it would set up a four-way fight for the FTSE 250...

  • ATHENS— Greek Prime Minister Alexis Tsipras has donned a tie, for the first time in more than three years in office, to celebrate the debt relief deal agreed by the country's creditors. The left-wing politician had said at the beginning of his first term in office that he would only wear a tie when Greece had settled its debt problems. In his speech, Tsipras hailed...

  • As pipelines out of the Permian basin in West Texas and eastern New Mexico, largest U.S. oil field, reach capacity in the coming months, smaller producers will have to slow or shut-in production, according to oil executives. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 758 rigs were active as energy companies have been...

  • MILAN, June 22- Italy's sixth-largest banking group, BPER Banca, said on Friday that its problem-loan ratio would fall to 17.8 percent once its Banco di Sardegna unit completed a 900 million euro loan securitisation deal. Banco di Sardegna has transferred 900 million euros in bad loans, among the worst of the group's problem loans, to a securitisation vehicle at...

  • As pipelines out of the Permian basin in West Texas and eastern New Mexico, largest U.S. oil field, reach capacity in the coming months, smaller producers will have to slow or shut-in production, according to oil executives. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 758 rigs were active as energy companies have been...

  • iTunes charts for week ending June 21, 2018. Girls Like You, Maroon 5. 6. no tears left to cry, Ariana Grande.

  • SAN FRANCISCO/ WASHINGTON, June 22- The safety driver behind the wheel of a self-driving Uber car in Tempe, Arizona, was streaming a television show on her phone until about the time of a fatal crash, according to a police report that deemed the March 18 incident "entirely avoidable." A report by the Tempe Police Department said the driver, Rafaela Vasquez, repeatedly...

  • *Oil prices jump after OPEC agrees to modest hike in supply. The benchmark Brent crude jumped $1.83 to $74.88 a barrel, following three days of losses, after OPEC agreed to modest crude output increases to compensate for losses in production at a time of rising global demand. A recent rally in oil prices due to an OPEC decision to restrict supply in an effort to drain...

  • NEW YORK, June 22- The wind and solar industries hope demand for carbon-free power from U.S. cities, states and corporations can offset headwinds from President Donald Trump's tax policy and tariffs, developers said this week. Also, investors with years of deals under their belts are less wary about financing solar and wind than they were years ago, and socially...

  • CHICAGO, June 22- U.S. soybean and corn futures stabilized on Friday but remained on course for their fourth consecutive week of losses due to concerns over the escalating trade dispute between the United States and China. Traders are focused on the tensions because the United States exported $12.4 billion worth of soybeans to China last year, making it the...

  • *FTSE 100 up 1.7 pct. The FTSE 100 ended the day up 1.7 percent, a rise which allowed it to finish on a weekly gain of 0.6 percent and avoid a fifth straight week of losses. The FTSE hit a seven-week low in the previous session when the index turned lower following a Bank of England policy vote that bolstered expectations of a rate hike in August.

  • MOSCOW, June 22- South Korea's state-run Korea Gas Corp may join Russia's Arctic LNG-2 project, President Vladimir Putin said on Friday after talks with South Korean counterpart Moon Jae- in in Moscow. French energy major Total agreed to buy a 10 percent stake in the Arctic gas project under a deal struck during Emmanuel Macron's visit to Russia last month.

  • LONDON, June 21- Turkey kicks off a four-month run of crucial emerging market elections this weekend that are expected to cause some of the most extreme moves in the voting countries' currencies in years. As well as Turkey on Sunday where the question is how much power Tayyip Erdogan and his AK Party get, Mexico looks set to vote in a new leftist president the week...

  • FRANKFURT, June 22- Harley-Davidson Inc expects to have to raise prices in Europe this autumn, when new motorcycle models are due to hit dealers' showrooms, due to EU tariffs on U.S. goods, the head of its central European business said. For the moment, though, Harley does not need to raise prices yet as it used the roughly three months since Europe first threatened to...

  • *Trade concerns continue; Oil rises sharply on OPEC news. NEW YORK, June 22- World shares climbed on Friday but were on track for their biggest weekly decline in three months due to trade war fears, though oil prices surged after OPEC decided on a modest production increase. Treasury yields edged higher, trading in narrow ranges as risk appetite improved a bit but...

  • WASHINGTON, June 22- 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- assembled cars, a month after the administration launched an investigation into whether auto imports pose a national security threat. The United States currently imposes a 2.5 percent tariff...

  • June 22- A machine used for paper recycling caught fire Thursday night at Tesla Inc's Fremont, California, campus, outside the company's car production factory, but manufacturing was not affected, the company said. The fire occurred after a cardboard baling machines that is used for recycling overheated, and was contained, Fremont Fire Department Division...

  • GENEVA, June 22- The United States ramped up its challenge to the global trading system on Friday, telling the World Trade Organization that appeals rulings in trade disputes could be vetoed if they took longer than the allowed 90 days. President Donald Trump, who has railed against the WTO judges in the past, threatened to levy a 20 percent import tax on European...

  • *OPEC to raise output by around 1 million bpd in nominal terms. *No individual targets for OPEC members. The Organization of the Petroleum Exporting Countries and other top crude producers, meeting in Vienna, agreed to raise output from July by about 1 million barrels per day after its de facto leader Saudi Arabia persuaded Iran to cooperate in efforts to reduce...