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CNBC Utilities Page Wires

  • *Premiums of 25 cents charged in Japan. MUMBAI/ BENGALURU, June 22- Gold demand picked up in most Asian centers this week as prices of the yellow metal slid to a six-month low, with gold being sold at a premium in India for the first time in seven weeks. Dealers in India were charging a premium of up to $1 an ounce over official domestic prices this week, for the first time...

  • VIENNA— The Latest on the OPEC meeting on oil production:. Jabar Ali al-Luaibi said as ministers from the Organization of the Petroleum Exporting Countries gathered Friday that "there is a lot of chance" of an agreement. Saudi Arabia's oil minister said the OPEC ministers will discuss a proposal to increase output by about 1 million barrels per day.

  • *First two stores will open this weekend in Paris. PARIS, June 22- French supermarket chain Casino and cosmetics group L'Oreal are launching new beauty stores in Paris this weekend, the latest effort by brick and mortar retailers to retain customers in the face of online competition. The first two outlets will open this weekend in the chic 9th and 6th districts of...

  • *OPEC has history of agreeing deals without Iran. VIENNA, June 22- OPEC moved closer on Friday towards boosting oil output as its leader Saudi Arabia appeared to have persuaded arch-rival Iran to cooperate, after major consumers warned of a supply shortage. OPEC in theory needs the agreement of all members to clinch a deal but has in the past agreed production...

  • BRUSSELS— The European Union is enforcing tariffs on $3.4 billion in U.S. products as of Friday in retaliation to duties the Trump administration has put on European steel and aluminum. In two weeks, the United States will start taxing $34 billion in Chinese goods. Beijing has vowed to immediately retaliate with its own tariffs on U.S. soybeans and other farm...

  • *PMI points to Q2 GDP growth of 0.5 pct- IHS Markit. BENGALURU, June 22- Euro zone economic growth likely put in a decent performance in the second quarter with private businesses growing faster than expected in June, but trade worries knocked manufacturing growth to the weakest in 18 months, a private survey showed. News of faster overall expansion this month,...

  • BEIJING/ SHANGHAI, June 22- U.S. protectionism is self-defeating and a "symptom of paranoid delusions" that must not distract China from its path to modernisation, Chinese media said on Friday as Beijing kept up with its war of words with Washington while markets wilted. China's commerce ministry accused the United States on Thursday of being "capricious" over...

  • VIENNA— Saudi Arabia's oil minister says officials from major crude-producing nations will discuss a proposal to increase output by about 1 million barrels per day. Ministers from the Organization of the Petroleum Exporting Countries are meeting Friday in Vienna for what could be a difficult gathering. Saudi Oil Minister Khalid al-Falih said an OPEC...

  • BEIJING, June 22- The political "thought" of President Xi Jinping, China's most powerful leader in decades, is encapsulated in two weighty tomes and dozens of published "important speeches." "Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era," as it is officially known, is an all encompassing theory guiding China to become a global military...

  • *OPEC is meeting in Vienna on Friday to discuss output. The Organization of the Petroleum Exporting Countries is meeting in Vienna together with non- OPEC oil producers to discuss output policy. Saudi Arabia and Russia want to raise output, but some other OPEC members, including Iran, have opposed this.

  • *Airbus has 14,000 employees in Britain. PARIS/ LONDON, June 22- Airbus issued its strongest warning yet over the impact of Britain's departure from the European Union, saying a withdrawal without a deal would force it to reconsider its long-term position and put thousands of British jobs at risk. Airbus, which makes wings for all its passenger jets in Britain, said...

  • LONDON, June 22- Emerging stocks rose off nine-month lows on Friday but were still set for their worst week since mid-March after an escalation in a trade dispute between the U.S. and China clobbered global markets. Investors ran for the door earlier in the week after the stakes were raised in the ongoing tit-for-tat trade war between the United States and China.

  • LONDON, June 22- The pound rose to a six-day high on Friday after a Bank of England meeting revived expectations of a rate hike this year, but sterling's gains were checked by fears of a breakdown in Brexit talks next week. Sterling has struggled through much of June, weighed down by worries about a slowdown in the economy and fraught attempts by British diplomats to...

  • *OPEC has history of agreeing deals without Iran. VIENNA, June 22- OPEC will seek agreement on Friday to boost oil output amid calls from major consumers to prevent a supply shortage and despite opposition from group member Iran, which faces export-crippling U.S. sanctions. OPEC in theory needs the agreement of all members to clinch a deal but has in the past agreed...

  • *FTSE 100 up 0.5 pct, down 0.5 pct on the week. The FTSE 100 rose 0.5 percent by 0853 GMT, underpinned by strength among financials and materials stocks. The FTSE hit a seven-week low in the previous session when index turned lower following a Bank of England policy vote that bolstered expectations of a rate hike in August.

  • BEIRUT, June 22- Lebanon requires "an immediate and substantial" fiscal adjustment to improve the sustainability of public debt that stood at more than 150 percent of gross domestic product at the end of 2017, the IMF executive board said. An IMF statement released overnight said IMF executive directors agreed with the thrust of a staff appraisal which in...

  • Germany's main business lobby group is warning that Britain is on course for a "disorderly Brexit" and urging its government to stop playing for time. Joachim Lang, the director general of the Federation of German Industries, said Friday there's a serious danger of Brussels and London ending up empty-handed in March, when Britain is due to leave the European...

  • KUALA LUMPUR, Malaysia— Malaysia has named Nor Shamsiah Mohamad Yunus, an experienced former central bank official, as the new central bank governor. Finance Minister Lim Guan Eng said Friday that the king has consented to Nor Shamsiah's appointment to head Bank Negara Malaysia from July 1 for a five-year term. She succeeds Muhammad Ibrahim, who resigned two...

  • LONDON, June 22- Strong financials stocks and better-than-expected euro zone economic data helped drive a bounce in European shares at the end of a tumultuous week marred by trade war worries. The STOXX climbed 0.5 percent by 0830 GMT, while Germany's exporter-heavy DAX rose 0.3 percent. The better euro area data added to stronger figures from Germany and...

  • LONDON, June 22- World shares rose on Friday but were set to end a second week lower amid intensifying worries over the fallout of a trade dispute resulting from U.S. tariffs, while oil prices were higher ahead of an OPEC meeting later in the day. Investor anxiety over a possible full-blown trade war has deepened this week over increasingly sharp rhetoric between...