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CNBC Utilities Page Wires

  • VIENNA— OPEC countries agree to oil output level that effectively increases production by almost 1 million barrels a day.

  • MOSCOW, June 22- Russian energy company Novatek and South Korea's state-run Korea Gas Corp signed an agreement on liquefied natural gas cooperation after talks between Russian President Vladimir Putin and his South Korean counterpart, Moon Jae- in, on Friday.

  • June 22- U.S. stocks opened higher on Friday with the Dow ending its 8- day losing streak as bank stocks gained after passing the Federal Reserve's annual regulatory stress test. The Dow Jones Industrial Average rose 65.27 points, or 0.27 percent, at the open to 24,526.97. The S&P 500 opened higher by 11.03 points, or 0.40 percent, at 2,760.79.

  • BERLIN, June 22- The European Central Bank should soon publish new guidelines on how to treat soured loans sitting on the balance sheets of lenders, a top official at Germany's Bundesbank said. The rules will be flexible and involve case-by-case consideration but will also have generally applicable rules across the sector, Joachim Wuermeling, who represents...

  • OTTAWA, June 22- An unexpected plunge in Canada's retail sales in April, combined with flat inflation figures for May, drove the Canadian dollar to a year-low on Friday and cut expectations of an interest rate increase next month. "I think it's fairly unambiguous that both numbers came in very much on the disappointing side," said Doug Porter, chief economist at BMO...

  • "The real rise in supply for OPEC and non- OPEC will probably be around 700,000-750,000 bpd. If we lose a million bpd of output from Venezuela and Iran in Q4 where will all these barrels come from? So I suspect the market will continue to grind higher, notably in view of oil inventories in the OECD being below the famous five-year average target and the ever present...

  • Finance ministers have discussed this and European Union leaders will do so on June 29. The main elements of the common budget idea are based on an agreement between France and Germany, reached this week, as well as proposals by the European Commission. France and Germany did not specify the size of the budget they want, but it is likely to be larger than the...

  • *OPEC agrees to raise output by around 1 million bpd- source. LONDON, June 22- Oil prices rose almost 3 percent on Friday as OPEC agreed a modest increase in output to compensate for losses in production at a time of rising global demand. Two OPEC sources told Reuters the group agreed that OPEC and its allies led by Russia should increase production by about 1 million...

  • TOKYO, June 22- Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. He also serves as chief executive of France's Renault. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full...

  • HeidelbergCement cannot rule out that the United States will at some point put tariffs on cement, its Chief Executive Bernd Scheifele tells German newspaper Mannheimer Morgen. * "The USA have imposed tariffs on steel and aluminium, it's not a big leap from there to the construction material cement as a mass product," Scheifele is quoted as saying.

  • MONTGOMERY, Ala.— Alabama Power Co. is seeking permission to raise fees on people with residential solar power systems even as it fights a complaint challenging the charges. Al.com reports the utility has filed a request with the Public Service Commission to hike the fee by more than 8 percent to $5.42 per kilowatt. Alabama Power says the fees cover the costs of...

  • *Oil prices jump after OPEC agrees to boost output. June 22- Wall Street was set to open higher on Friday with the Dow on track to snap an 8- day losing streak, helped by a surge in oil prices as OPEC neared a deal to boost output, while there were no significant developments in the China-U.S. trade rhetoric. "The market wants some sort of positive commentary out of OPEC......

  • LUXEMBOURG, June 22- Euro zone finance ministers and leaders will seek agreement in the next eight days on a series of reforms to make the currency area more resilient to future crises. Below are ideas for new powers for the European Stability Mechanism, the euro zone bailout fund for states with a firepower of 500 billion euros, discussed by finance ministers and...

  • Below are ideas for completing the European Union's banking union, discussed by finance ministers and to be considered by a leaders' summit on June 29. They are based on an agreement between France and Germany, which lead the way on the changes, as well as the European Commission and eight northern European finance ministers. -a Single Resolution Fund, financed by...

  • CANNES, France, June 22- Former WPP boss Martin Sorrell denied on Friday that he had visited a prostitute and paid using company money when pressed on a stage in front of hundreds of people about why he had left the advertising giant he founded. Sorrell, speaking on the main stage at the Cannes Lions advertising festival, was asked by the New Yorker journalist Ken...

  • *Real increase for OPEC, Russia will be lower. VIENNA, June 22- OPEC agreed on Friday on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. Two OPEC sources said the group agreed that OPEC and its allies led by...

  • BEIRUT, June 22- German Chancellor Angela Merkel played down expectations of a major breakthrough being reached at hastily-arranged talks between some EU leaders on Sunday on the migration dispute dividing Europe. She needs to get EU leaders at the June 28-29 summit to agree to share out asylum seekers more evenly to placate her conservative allies,...

  • PARIS, June 22- Danone Manifesto Ventures, an investment fund set up by the French food giant to target start-up companies challenging the dominance of big brands, expects to have invested in 20-25 such firms by 2020.. Managing Director Laurent Marcel told Reuters the fund was looking at sectors ranging from healthy drinks, snacks and baby food, to the search for...

  • OTTAWA, June 22- Canada's annual inflation rate stayed unchanged at 2.2 percent in May, the fourth consecutive month it has exceeded the Bank of Canada's 2.0 percent target, Statistics Canada data indicated on Friday. The Bank of Canada has raised interest rates three times since last July as the economy strengthened, and market operators see a 60 percent chance...

  • LUXEMBOURG, June 22- European Union finance ministers agreed on Friday to double a war chest for dealing with failing banks and boost powers of the euro zone bailout fund, but were split over whether to have a mechanism to restructure government debt or a euro zone budget. All the EU's finance ministers except Britain, which will leave the bloc in March, discussed...