Russia said it’s making headway with the U.S. and the European Union in resolving the dispute in Ukraine after presidents Vladimir Putin and Barack Obama spoke and the two countries’ top diplomats prepared for more talks.
U.S. stocks climbed after a two-day slide, as consumer shares rebounded amid data showing household purchases rose the most in three months. Biotechnology shares extended losses, weighing on the Nasdaq Composite Index.
PG&E Corp., owner of California’s largest utility, said it expects to face criminal charges for the 2010 explosion of one of its natural gas pipelines that killed eight people in San Bruno, California.
Oil Search Ltd., Papua New Guinea’s largest oil and gas producer, is contesting Total SA’s agreement earlier this week to acquire a stake in InterOil Corp.’s natural gas discoveries in the Pacific nation.
Russia’s energy industry will be denied detonators from the U.S. used for oil and gas drilling as the Obama administration expands its response to the annexation of Crimea by suspending sales of goods with military uses.