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CNBC Utilities Page Wires

  • April 20-** Chile lithium miner SQM shares up sharply after Chile brokerage firm auctions 1.5 million of the company's series-A shares. **Series-A shares on Santiago stock exchange up 7.4 percent at 32,000 pesos as of 10:30 a.m. local time. **Brokerage firm Banchile auctions 1.5 million series-A shares in SQM at a sale price of 30,000 pesos per share, raising total...

  • COPENHAGEN, Denmark— A major European dairy cooperative says that currency swings caused by Brexit are among the reasons it has to cut costs by over 400 million euros over the next three years. Denmark- based Arla Foods, the maker of Lurpak butter, says "two unexpected developments"— the pound's drop after Brexit and a shift in commodity prices— are forcing it to act.

  • *Canada's inflation rate edges up to 2.3 pct in March. TORONTO, April 20- The Canadian dollar weakened to an 11- day low against its U.S. counterpart on Friday after data showed domestic inflation rose less than expected, with the currency extending its decline since the Bank of Canada held interest rates steady two days ago. Canada's annual inflation rate in March...

  • WASHINGTON, April 20- The European Central Bank should continue to provide ample stimulus but some nations in the emerging part of Europe will have to normalize monetary policy quicker, Poul Thomsen, the head of the IMF's European Department, said on Friday. "In emerging Europe, the somewhat stronger but still-below-target inflationary pressures suggest a...

  • Hungary and Poland's 10- year yields rose by 2 basis points to 2.48 and 3.063 percent respectively, with their yield curve steepening. Hungary's advance was not linked to either gross wages data, which again showed double-digit annual growth, or to comments from Prime Minister Viktor Orban highlighting tension with Brussels, market participants said.

  • President Donald Trump criticized OPEC on Friday for output curbs that have helped raise global oil prices and said "artificially" high prices would not be accepted, drawing rebukes from oil-producing countries as prices dipped following his remarks. "Looks like OPEC is at it again. OPEC Secretary General Mohammed Barkindo said the pact between OPEC and non-...

  • NEW YORK— The latest on developments in financial markets:. Stocks are off to a mostly lower start on Wall Street as losses for technology and energy companies offset gains for industrial companies and banks. General Electric jumped 6.4 percent after reporting results that were better than analysts were expecting.

  • MOSCOW, April 20- Russia's second-biggest food retailer Magnit plans to launch a new format of stores in branches of state postal operator Russian Post, a company executive said on Friday.

  • *Peaked at $600 mln in assets, down to $100 mln- source. LONDON, April 20- British emerging markets-focused hedge fund Onslow Capital Management has closed after a long period of low volatility hit returns and assets fell below a sustainable level, it said in a letter to investors. The move by founder Nicolas Galperin to close after 11 years comes despite forecasts...

  • April 20- U.S. stock indexes opened flat on Friday, as strong earnings from industrials General Electric and Honeywell were offset by declines in technology stocks and oil price. The Dow Jones Industrial Average fell 7.50 points, or 0.03 percent, at the open to 24,657.39. The S&P 500 opened lower by 0.57 points, or 0.02 percent, at 2,692.56.

  • SAN JUAN, Puerto Rico _ OFG Bancorp on Friday reported first-quarter profit of $16.9 million. The San Juan, Puerto Rico- based bank said it had earnings of 29 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • OSLO, April 20- Aluminium maker Norsk Hydro may declare force majeure on contracts it has with Russia's United Company Rusal due to U.S. sanctions, the Norwegian company said on Friday. The price of aluminium on the London Metal Exchange has risen by around a quarter since Washington on April 6 imposed sanctions against allies of Russian President Vladimir...

  • NEW YORK— SunTrust Banks Inc. says accounts for 1.5 million clients could be compromised following a potential data breach. The Atlanta bank says that it became aware of the potential theft by a former employee and that the investigation is ongoing. Compromised information could include names, addresses, phone numbers and account balances.

  • CARACAS, April 20- Kimberley-Clark has requested the start of arbitration proceedings against Venezuela at the World Bank's arbitration panel, according to the body's website. Kimberly-Clark, which makes Huggies diapers and Kleenex tissues, two years ago halted its two-decade Venezuela operations as it was unable to obtain raw materials or hard currency...

  • CARACAS, April 20- Kimberley-Clark has requested the start of arbitration proceedings against Venezuela at the World Bank's arbitration panel, according to the body's website. Kimberly-Clark, which makes Huggies diapers and Kleenex tissues, two years ago halted its two-decade Venezuela operations as it was unable to obtain raw materials or hard currency...

  • HAMBURG, April 20- German police arrested the head of powertrain development at Volkswagen's Porsche sportscar brand and are holding him on remand on concerns he could try to destroy evidence or flee, a person familiar with the matter said on Friday. The arrest of Joerg Kerner on Thursday was related to ongoing inquiries into emissions manipulation at...

  • NEW YORK— Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in a wide-ranging scandal at the banking giant. Wells will pay $500 million to the Office of the Comptroller of the Currency, its main national bank regulator, as well as a net $500 million to the Consumer Financial...

  • OTTAWA, April 20- Canada's annual inflation rate strengthened by less than expected in March and February retail sales showed signs of weakness, disappointing markets and helping to push down the Canadian dollar. The Bank of Canada has raised interest rates three times since July 2017 amid a strengthening economy and near record low unemployment, and markets...

  • WELLS FARGO ENTERS CONSENT ORDERS WITH OCC AND CFPB; TO PAY $1 BLN IN CIVIL MONEY PENALTIES.

  • *Oil prices turn negative after Trump criticizes OPEC. April 20- U.S. stock futures were little changed on Friday as strong earnings from industrials General Electric and Honeywell were offset by a dip in oil prices after President Donald Trump criticized OPEC for artificially high prices. Oil prices reversed course to drop more than 0.5 percent after Trump...