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CNBC Utilities Page Wires

  • NEW YORK, July 20- The U.S. yield curve reached its steepest level in more than three weeks on Friday afternoon as President Donald Trump criticized the speed of the Federal Reserve's pace of rate hikes. Trump is concerned the central bank will raise interest rates another two times this year, a White House official told CNBC. Earlier on Friday Trump questioned the...

  • BALTIMORE— Baltimore has become the latest U.S. city to try and hold the world's biggest oil companies financially responsible for global warming. Companies in the complaint include ExxonMobil, Chevron and Shell. ExxonMobil could not be immediately reached for comment.

  • July 20- Oilfield service giants Schlumberger and General Electric Co's Baker Hughes missed second quarter revenue forecasts on Friday as slow international growth offset record production in the United States that boosted domestic demand for their services. Schlumberger's overall revenue rose 11 percent in the quarter to $8.30 billion, missing...

  • WASHINGTON, July 20- Baltimore filed a lawsuit on Friday against 26 oil and gas companies and entities, including BP Plc, Chevron Corp and Exxon Mobil Corp, for knowingly contributing to what the city called the catastrophic consequences of climate change. Baltimore is vulnerable to any rise in sea level because it has 60 miles of coastline and one of the...

  • RIYADH, July 20- Saudi Aramco's chief executive Amin Nasser said on Friday that an agreement over a potential acquisition of a stake in Saudi petrochemicals maker SABIC would affect the time frame of its planned initial public offering. Saudi-owned Al Arabiya television cited Nasser as saying that buying a stake in a petrochemicals company such as SABIC will...

  • SAN FRANCISCO, July 20- Tariffs are starting to bite big manufacturers and Wall Street could get another bout of caution and uncertainty from major industrial companies when a swath of reports comes in over the next week. Investors are worried about the impact on earnings should the United States' trade war with China and other major trading partners escalate.

  • HOUSTON, July 20- Italy's imports of U.S. crude oil vaulted to a record in June after attacks by armed groups shuttered two major Libyan oil ports and cut off most deliveries from the OPEC country, a key supplier to Europe, according to Thomson Reuters trade flow data and shipping intelligence firm Kpler. Eight vessels left the U.S. Gulf Coast for Italy last month...

  • DENVER— It's more than $1 billion over budget and five years behind schedule, but an elaborate new veterans hospital is finally opening in suburban Denver on Saturday with the promise of state-of-the-art medical care. Yeah, it's all been unfortunate, "said Leanne Wheeler, an Air Force veteran who gets VA health care in Denver. The bright, airy complex in the east...

  • *Trump threatens tariff on $500 bln worth of Chinese goods. NEW YORK, July 20- U.S. stocks were largely unchanged on Friday as a string of strong earnings led by Microsoft offset escalating trade anxieties driven by U.S. President Donald Trump's latest salvo of tough China tariff threats.

  • July 20- GlaxoSmithKline Plc is considering a break-up of the group after investors pressed the company's board to spin off its consumer division, the Financial Times reported on Friday. GSK Chairman Philip Hampton has been in discussions with the group's biggest shareholders about the creation of a standalone pharma and vaccines company in the medium term,...

  • July 20- Homes and businesses in Texas used record amounts of power for a second straight day on Thursday and are expected to use even more in coming days as consumers crank up air conditioners to escape a brutal heat wave, according to the operator of much of the state's power grid. To keep air conditioners humming, Texas utilities are buying electricity from all...

  • BRASILIA, July 20- The Brazilian government on Friday cut its forecast for gross domestic product growth this year to 1.6 percent from 2.5 percent and worsened its fiscal estimates. In a bimonthly report, the government raised its forecasts for net revenue by 3.194 billion reais and for primary expenses by 7.546 billion reais. Reuters reported on July 12 that...

  • NEW YORK, July 20- Oil prices rose on Friday as a weakening dollar and lower expected August oil exports from Saudi Arabia supported the market, offsetting concerns about U.S.- China trade tensions and supply increases. "The dollar was a one-way ticket for the last couple of weeks and basically reversed directions, giving us some strong support," said Phil Flynn,...

  • *Wall St flat, Europe equities dip, Asia supports. NEW YORK, July 20- The U.S. dollar weakened on Friday against key world currencies as President Donald Trump complained again about its strength, while U.S. and European stock markets were tepid amid fresh tariff talk and another round of corporate earnings. He also lamented the strength of the dollar and accused the...

  • NEW YORK, July 20- U.S. The Fed has raised rates twice this year and is expected to raise rates a couple more times by year end which may attract more foreign into the U.S. dollar with monetary policy remaining loose in Europe and Japan, analysts said. But investors and traders attribute some of the gains to the Trump administration's tax cuts which are widening the...

  • *U.S. Air Force set up integration office for Europe. The new warplane's high-end sensors will give it a bigger role across all domains of war than previous fighter planes, including in missile defence, said General Tod Wolters, the top commander of U.S. and NATO air forces in Europe. Norway, Britain and Italy will have received 40 F-35s in Europe by the end of the year,...

  • LONDON, July 20- British businessman Arron Banks has denied an allegation made by a former business partner that he approached Russians about investing in his diamond mines, and that the money raised went instead to his campaign to leave the European Union. Banks, who ahead of the Brexit referendum financed Leave.EU, a campaign led by Nigel Farage, then the leader...

  • WASHINGTON, July 20- U.S. lawmakers who reached an agreement on a must-pass defense bill cut from the legislation a measure that would have made it harder for the president to undo sanctions slapped on China's ZTE Corp, a top Democrat in the Senate said on Friday. The company had made false statements about disciplining 35 employees involved with illegally...

  • *Ethiopia's economy has faced crippling forex shortage. ADDIS ABABA, July 20- A "hard currency amnesty" and reform-driven confidence in Ethiopia's economy, both at home and abroad, have helped close a once yawning gap between the official and black market exchange rates for its birr currency. Businesses and analysts in the capital Addis Ababa told Reuters on...

  • *Roche does not plan to reverse July 1 hikes, unlike Pfizer. ZURICH, July 20- European drugmakers Roche, Bayer and Merck KGaA became the latest companies to freeze prices in the United States for the rest of 2018 following criticism by President Donald Trump over the cost of medicine. "Last week on July 11, we communicated to the U.S. Department of Health and Human...