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CNBC Utilities Page Wires

  • The forecast cast doubt on GE's full-year adjusted profit target of $1.00 to $1.07 a share. GE cut the industrial free cash flow target to $6 billion from a range of $6 billion to $7 billion. Its adjusted earnings, which exclude certain pension and restructuring costs, fell 10 percent to 19 cents a share, beating analysts' expectations of 17 cents a share, according...

  • MEXICO CITY, July 20- Mexican bottler Arca Continental on Friday reported a more than 30 percent rise in net profit for the second quarter compared with the year-ago period, helped by higher volumes and exchange rate gains from a stronger U.S. dollar. The company, one of Latin America's largest Coca-Coca bottlers, reported profit of 2.68 billion pesos between...

  • RIYADH, July 20- China and the United Arab Emirates signed a raft of financial, business and trade agreements on Friday during a visit by President Xi Jinping to the UAE that signalled energy-hungry Beijing's rapidly growing interest in the Middle East. As both a major energy exporter and a hub for international trade, the UAE is an important part of Xi's "Belt and...

  • Shares of one of the technology world's oldest and best-known names rose nearly 4 percent to $108.20 in early trade, adding more than $30 billion to a market capitalization that was already $802 billion at Thursday's close. Helped by a boom in demand for cloud-based software, Microsoft has more than doubled in value since Satya Nadella took over as chief...

  • *Iran has been one of Turkey's main sources of oil. ISTANBUL/ LONDON, July 20- Turkey's biggest oil importer Tupras has cut back purchases of Iranian crude since May, when the United States said it would re-impose sanctions on Tehran, and analysts say Tupras is likely to stick to lower volumes in coming months. NATO member Turkey depends heavily on imports to meet its...

  • Trump, in posts on Twitter, also lamented the strength of the U.S. dollar and accused the European Union and China of manipulating their currencies. The president has raised tariffs on a host of imports, triggering retaliatory tariffs from key trade partners like China and the European Union. "China, the European Union and others have been manipulating their...

  • *Swiss, German firms join in the U.S. drug price freeze. ZURICH, July 20- European drugmakers Roche, Bayer and Merck KGaA became the latest companies to freeze prices in the United States following criticism by the Trump administration of the cost of medicine. "Last week on July 11, we communicated to the U.S. Department of Health and Human Services that we will not be...

  • NEW YORK— US stocks are drifting between small gains and losses as traders shrug off the latest trade threats from President Donald Trump and focus on company earnings reports, which contained some better-than-expected results from big names including Microsoft. MORE TARIFF TALK: In a taped interview with the business channel CNBC, Trump said "I'm willing to...

  • GENEVA, July 20- A dispute panel of the World Trade Organization largely ruled in favour of Russia on Friday in a case brought against Ukraine on anti-dumping measures imposed on imported ammonium nitrate used in fertiliser. Russia lodged the case in May 2015 saying that the duties violated the WTO's anti-dumping agreement. The panel also upheld Russia's...

  • GENEVA, July 20- A dispute panel of the World Trade Organization largely ruled in favor of Russia on Friday in a case brought against Ukraine on anti-dumping measures imposed on imported ammonium nitrate used in fertilizer. Russia lodged the case in May 2015 saying that the duties violated the WTO's anti-dumping agreement. The panel also upheld Russia's claim...

  • TOKYO, July 20- The Bank of Japan, facing stubbornly low inflation, is in unusually active discussions before this month's policy decision, with changes to its interest-rate targets and stock-buying techniques on the table, people familiar with the central bank's thinking told Reuters. However, policymakers are already debating tweaks to Governor Haruhiko...

  • NEW YORK, July 20- The dollar fell across the board on Friday, as the latest comments from U.S. He said on Twitter that the Fed's policy on raising interest rates takes away from the United States' "big competitive edge" and could hurt the U.S. economy.. That followed CNBC's interview of Trump who said a strong dollar put the United States at a disadvantage and he was ready...

  • *Trump threatens tariff on $500 bln worth of Chinese goods. July 20- The S&P 500 was trading flat on Friday as Microsoft's robust results helped offset escalating tariff worries after President Donald Trump said he was ready to impose levies on $500 billion worth of goods from China. Trump's comments on tariffs, which followed the United States and China imposed...

  • DETROIT— Federal safety investigators are looking into complaints that engines on some Ford Escape vehicles can overheat and suddenly stall while being driven. The U.S. National Highway Traffic Safety Administration says it has 40 complaints from consumers about stalling, including two alleging that the engines caught fire. The investigation covers...

  • LONDON, July 20- Gold prices rose on Friday from one-year lows hit the previous day after U.S. Spot gold was up 0.6 percent at $1,229.23 an ounce at 1404 GMT and U.S. gold futures were 0.4 percent higher. Driving the declines have been a strengthening dollar and disillusionment among investors with bullion, said Macquarie analyst Matthew Turner.

  • TOKYO— Japan's Prime Minister Shinzo Abe has warned the U.S that higher tariff on auto imports would backfire and harm not only America's jobs and economy but also devastate the global economy. Abe told a news conference marking the end of a Diet session Friday that Japan's auto and auto parts industry has never threatened America's national security and...

  • WTO LARGELY RULES IN FAVOUR OF RUSSIA IN CASE BROUGHT AGAINST UKRAINE ANTI-DUMPING MEASURES IMPOSED ON IMPORTED AMMONIUM NITRATE USED IN FERTILISER.

  • NEW YORK, July 20- General Electric Co, a major buyer of Chinese goods, estimates new tariffs on its imports from China could raise its costs by $300 million to $400 million overall before steps to lessen the impact, Chief Executive John Flannery said on Friday. In comment on the tariffs set up by President Donald Trump, Flannery said GE imports about $2.9 billion...

  • FARNBOROUGH, England, July 20- Britain's showy launch of a new fighter jet project at this week's Farnborough Airshow has laid bare political tensions that are threatening to tear Europe apart and deepened scepticism about the future of European defence cooperation. The new UK programme- launched with 2 billion pounds of seed money just nine months before...

  • TOKYO, July 20- Japan's Prime Minister Shinzo Abe said on Friday imports of Japanese automobiles pose no threat to U.S. national security, vowing to convince President Donald Trump not to impose tariffs that could damage the global economy. Trump has repeatedly threatened to impose tariffs as a key part of his economic message, repeatedly lamenting the U.S. auto...