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CNBC Utilities Page Wires

  • Energy Secretary Rick Perry will meet Russia's energy minister next week in Washington, a person familiar with the situation said on Friday, as the two countries compete to supply global markets with natural gas and crude. Perry will meet Russia's Energy Minister Alexander Novak on Tuesday, in the context of the World Gas Conference that is being held in...

  • *Canadian dollar at C $1.3276, or 75.32 U.S. cents. TORONTO, June 22- The Canadian dollar gained against the greenback on Friday, recovering from an earlier one-year low, as a jump in oil prices offset domestic inflation and retail sales data that crimped expectations for a Bank of Canada interest rate hike next month. After the data, the currency touched its weakest...

  • 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. The United States currently imposes a 2.5 percent tariff on imported passenger cars from the European Union and a 25 percent tariff on imported pickup trucks.

  • Exxon Mobil Corp., up $1.69 to $81.38. Red Hat Inc., down $25.59 to $142.14. CarMax Inc., up $9.14 to $80.19.

  • Brazil has recently finished harvesting its 2018 soybeans and is now collecting its second corn crop in earnest. Concerns over transportation costs have led handlers in Brazil to delay removal of products from farmers' warehouses to avoid doing so at a loss, the traders said. According to farmer-backed Mato Grosso research institute IMEA, through last week...

  • NEW YORK, June 22- Bitfinex Chief Strategy Officer Phil Potter is leaving the cryptocurrency trading platform, the executive and the exchange told Reuters on Friday. Owned by a British Virgin Islands company, Bitfinex is the fourth-largest cryptocurrency exchange in the world by trading volume. Earlier this month a University of Texas research paper alleged...

  • June 22- ICE cotton futures rose more than 1 percent on Friday, supported by a rebound in commodity prices, but the natural fiber marked its worst week in nine months amid escalating trade tensions between the United States and China. *U.S. protectionism is self-defeating and a "symptom of paranoid delusions" that must not distract China from its path to...

  • *Trade concerns continue; oil rises sharply on OPEC news. NEW YORK, June 22- World shares rose on Friday but still registered their biggest weekly decline in three months on continuing global trade tensions, while oil prices surged after OPEC decided on only modest increases in crude production. Treasury yields were little changed as risk appetite improved a bit...

  • WASHINGTON— A Florida boat builder absorbs $4 million in lost business and expects more pain. A brawl that the United States provoked with its closest trading partners is starting to draw blood. China, India and Turkey had earlier begun penalizing American products in response to the U.S. tariffs on metals.

  • Oil prices and energy companies rallied Friday after OPEC said it will produce more oil, but not as much as investors feared. While trade tensions remained in the headlines, U.S. stocks finished slightly higher at the end of a bumpy week. The Russell 2000 index of smaller-company stocks slid 3.37 points, or 0.2 percent, to 1,685.58.

  • Energy Secretary Rick Perry will meet Russia's oil minister next week in Washington, a person familiar with the situation said on Friday, as the two countries compete to supply global markets with natural gas and crude. Perry will meet Russian Oil Minister Alexander Novak on Tuesday, in the context of the World Gas Conference that is being held in Washington, the...

  • *OPEC to raise output by around 1 mln 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.

  • June 22- Eli Lilly and Co said on Friday a U.S. District Court ruled in favor of its patent on Alimta vitamin regimen and prevented Hospira Inc and India's Dr. The patent for Lilly's top-selling cancer drug will expire in May 2022. "Lilly's extensive research to discover the Alimta vitamin regimen patent deserves intellectual property protection," Lilly's senior...

  • *Oil prices jump after OPEC agrees to modest supply increase. NEW YORK, June 22- The S&P 500 and Dow Jones Industrial Average climbed on Friday, as the Dow put to rest an eight-day losing streak with a boost from energy stocks, but losses in the technology space kept the Nasdaq in check. "That is the big news of the day, both the OPEC news and just the reaction of the stocks as...

  • CHICAGO, June 22- U.S. soybean and corn futures posted losses for the fourth straight week on worries about the escalating trade dispute between the United States and China, although prices rose for the day on Friday as some traders covered short positions. Traders are focused on the trade tensions because the United States exported $12.4 billion worth of...

  • NEW YORK, June 22- The S&P 500 and Dow Jones Industrial Average climbed on Friday, as the Dow put to rest an eight-day losing streak with a boost from energy stocks, but losses in the technology space kept the Nasdaq in check.

  • LOS ANGELES— Filmmaker Ava DuVernay has checked off another milestone for black female directors. This week her film "A Wrinkle in Time" crossed the $100 million mark domestically, a first for a black woman. The Disney film has now grossed over $132.4 million worldwide, but with marketing costs well over $100 million, "A Wrinkle in Time" is also still not in the black.

  • June 22- ZTE Corp is expected to deposit $400 million in an escrow account in a U.S. bank in the "next couple of days," the last step the Chinese company must take before a ban on U.S. suppliers can be lifted, a U.S. Department of Commerce official told Reuters on Friday. ZTE, China's No. 2 telecommunications equipment maker, ceased major operations after the Commerce...

  • NEW YORK, June 22- U.S. China kept up its hostile rhetoric with the United States on Friday, saying through the official China Daily that U.S. protectionism would hurt its own economy. "People believe that if we actually go into a trade war, the economy falls apart and inflation goes down," said Stan Shipley, strategist, at Evercore ISI in New York.

  • SANTIAGO, June 22- Chile lithium miner SQM said on Friday it had decided against hiring former Chairman Julio Ponce as an adviser, reversing a decision that had sparked criticism from politicians and Chile's business community. Ponce, a former son-in-law of late Chilean dictator Augusto Pinochet, is a controversial figure in Chile. "Given that his hiring as an...