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CNBC Utilities Page Wires

  • *Loss of UK expertise raises pressure on other EU states. Although the UK's exit from the European Union is still eight months away, Britain has already stopped taking on new projects that will extend beyond March 29, 2019 and is preparing to hand over existing drug review work to other countries. Germany, Sweden and the Netherlands are among the other big...

  • *Weakness in domestic currency limits demand in China. MUMBAI/ BENGALURU, July 20- A drop in prices spurred some interest for physical gold in major Asian hubs this week, but failed to stoke significant demand in India as buyers awaited bigger dips. Dealers in India were charging a premium of up to $1 an ounce over official domestic prices this week, down from $1.5...

  • BERLIN, July 20- Transatlantic relations are going through a rocky patch, German Chancellor Angela Merkel said on Friday, but she added that it was not the first difficult period they had experienced and she expressed the hope that they would yet recover. "The U.S. is an important partner who from our point of view does not always pursue policies on which we have the...

  • BERLIN, July 20- Chancellor Angela Merkel, vowing to stay in office despite challenges at home and abroad, said she would work on Germany's "under pressure" relationship with the United States but that Washington could no longer be relied on to deliver world order. In a wide-ranging news conference, Merkel described Germany's relationship with the United States...

  • LONDON, July 20- After a year laying the groundwork for his Karachi- based clothing company's expansion to Europe, businessman Abdul Aziz was poised to start delivery to British shops such as TK MAXX. Now he may soon be in breach of the terms of his Tier 1 entrepreneur visa, which allows him to run his business in Britain only if specific conditions are met about the...

  • GREENSBORO, N.C. _ V.F. Corp. on Friday reported fiscal first-quarter net income of $160.4 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share. Five analysts surveyed by Zacks expected $2.66 billion.

  • GE affirmed its full-year adjusted EPS target of $1.00 to $1.07 a share, but cut its annual cash target to $6 billion from a range of $6 billion to $7 billion. Losses widened at GE Capital, the company's financing arm, to $207 million compared with a loss of $172 million a year ago. Power unit profit fell 58 percent in the quarter, to $421 million from $994 million, as...

  • MILWAUKEE _ Sensient Technologies Corp. on Friday reported second-quarter earnings of $39.1 million. Sensient expects full-year earnings to be $3.60 to $3.70 per share. Sensient shares have dropped roughly 1 percent since the beginning of the year.

  • LAFAYETTE, La. _ Iberiabank Corp. on Friday reported second-quarter profit of $75.1 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share. Five analysts surveyed by Zacks expected $301.5 million.

  • THE HAGUE, Netherlands _ Schlumberger NV on Friday reported second-quarter net income of $430 million, after reporting a loss in the same period a year earlier. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. Nine analysts surveyed by Zacks expected $8.34 billion.

  • BEIJING, July 20- In the tense trade war with the United States, China's government has turned to an unlikely weapon: a cartoon bean. In return, China levied taxes on the same value of products from the United States, including soybeans. Soybeans were the United States' biggest agricultural export to China, worth $12 billion last year.

  • The Greensboro, North Carolina- based company's total revenue rose 23 percent to $2.79 billion in the quarter ended June 30, beating analysts' average estimate of $2.68 billion, according to Thomson Reuters I/B/E/S. The company raised its full-year earnings forecast range to $3.52 to $3.57 per share from a prior expectation of $3.48 to $3.53.

  • The company's shares fell 2.4 percent to $30.25 in premarket trading on Friday. Revenue from its oilfield equipment business, which includes deepwater drilling, fell 9.4 percent to $617 million, missing analysts' estimate of $648.2 million. Baker Hughes reported adjusted net income of $41 million, or 10 cents per share, in the second quarter ended June 30.

  • ROME, July 20- The Italian government has reached a deal on who should take charge of state lender Cassa Depositi e Prestiti, a government source said on Friday, ending weeks of tension over the sensitive appointments. The source said the accord was reached following a meeting between Prime Minister Giuseppe Conte, Deputy Prime Minister Luigi Di Maio, Economy...

  • COLUMBUS, Ohio— Mark Wahlberg wants you to see the U.S.A. in a Chevrolet. The 47- year-old actor, producer, businessman and former rapper on Thursday announced he's launching his first car dealership, Mark Wahlberg Chevrolet in Columbus, Ohio. Wahlberg is partnering with businessman Jay Feldman, who owns eight Chevy dealerships throughout southeast and mid-...

  • *Northern Ireland is key Brexit stumbling bloc. BELFAST, July 20- British Prime Minister Theresa May on Friday called on the European Union to strike a new deal to prevent a hard border in Northern Ireland and demanded Brussels quickly respond to her' white paper' plan to avoid a damaging no-deal Brexit. In a speech to politicians and business leaders in Belfast's...

  • MORRIS PLAINS, N.J. _ Honeywell International Inc. on Friday reported second-quarter profit of $1.27 billion. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share. Six analysts surveyed by Zacks expected $10.78 billion.

  • LONDON, July 20- The dollar held below a one-year high on Friday as the latest comments from U.S. In a CNBC interview on Thursday, Trump said a strong dollar put the United States at a disadvantage and he was ready to place tariffs on $500 billion of imported goods from China. "We don't think the dollar rally is at a risk of ending as the economic momentum is still quite...

  • Earnings from continuing operations attributable to GE shareholders fell to $736 million, or 8 cents a share, in the second quarter ended June 30, from $1.03 billion, or 12 cents a share, a year earlier. Total revenue rose to $30.1 billion from $29.1 billion. GE affirmed its full-year adjusted EPS target of $1.00 to $1.07 a share, but cut its annual cash target to $6...

  • NEW YORK, July 19- Donald Trump's comments that a strong dollar "puts us at a disadvantage" caused an instant fall in the greenback on Thursday and marked another example of the U.S. president commenting directly- and sometimes contradictorily- on the country's currency. In an interview with CNBC that aired in part on Thursday, Trump also said he was concerned that...