CNBC Utilities Page Latest Business News Wires - Business Headlines

  • TOKYO-- Toshiba Corp. is raising its stake in U.S. nuclear power unit Westinghouse Electric despite uncertainty about the future of the technology in Japan after the nuclear disaster in Fukushima.

  • HOUSTON-- An airline passenger who says she's a law school student from Mexico has been arrested in a Texas heroin smuggling case. Federal prosecutors in Houston on Tuesday announced the arrest of 21- year-old Yessica Chanel Cabanillas-Torres, who remains in custody pending a detention hearing.

  • BETHESDA, Md.-- Room rates continued to climb during Host Hotels& Resorts' third quarter and occupancy improved as the lodging real estate investment trust's funds from operations climbed 12 percent. Funds from operations rose to $127 million, or 17 cents per share, for the period ended Sept. 7.

  • BEIJING-- China's auto sales shrank in September as a territorial dispute with Tokyo prompted buyers to avoid Japanese brands, hurting already weakening demand. In September, sales of Japanese vehicles plunged as the dispute between Beijing and Tokyo over a group of uninhabited islands in the East China Sea prompted buyers to avoid Japanese showrooms.

  • WASHINGTON-- Car owners whose air bags have been replaced in the past three years may have had dangerous counterfeit bags installed, the Obama administration warned Wednesday.

  • Danaher Corp. and Cooper Industries said Wednesday that they will sell a tool making business they created two years ago as a joint venture for about $1.6 billion to private equity firm Bain Capital.

  • ISSAQUAH, Wash.-- Shoppers continue to head to Costco in search of deals, helping the wholesale club operator's fiscal fourth-quarter net income and revenue climb. Consumers have been drawn to stores like Costco, BJ's Wholesale Club and Sam's Club because they feel like they are getting bargains by purchasing items in bulk.

  • MUMBAI, India-- Car sales in India may grow just 1 percent this fiscal year, down from a July forecast of around 10 percent as the economy falters, the Society of Indian Automobile Manufacturers said Wednesday. India's rural economy has been a bulwark of strong consumption amid global uncertainty.

  • ROME-- Italy raised 11 billion in a pair of short term auctions but had to pay slightly higher interest rates to get investors to part with their cash. Over recent weeks, Italy has not been a primary focus in Europe's debt crisis.

  • Alcoa kicked off the latest round with a warning that demand for aluminum was lower than anticipated largely because of a slowdown in China. Alcoa's warning about global demand came as the International Monetary Fund lowered its global growth forecast for this year to 3.3 percent from the previous estimate of 3.5 percent.

  • Pizza Hut is offering a lifetime of free pizza _ one large pie a week for 30 years _ or a check for $15,600 to anyone who poses the question to either President Barack Obama or Republican candidate Mitt Romney during the live Town Hall- style debate next Tuesday.

  • BAGHDAD-- Iraq's top energy official is predicting that the country's current oil production of 3.4 million barrels per day will double by 2015.. Deputy Prime Minister Hussein al-Shahristani on Wednesday also said Iraq's long term target is to produce up to 10 million barrels of oil daily by 2020..

  • Britain's FTSE 100 fell 0.3 percent to 5,792.95. Stock markets in Asia also posted losses, with the exception of mainland China, where shares rose a day after posting big gains on hopes that Chinese authorities were preparing sizeable steps to help reverse the decline in growth in the world's second-largest economy.

  • NEW DELHI-- As Western sanctions squeeze Iran and its currency tumbles, the country's energy minister worked Wednesday to woo Indian businesses to invest in the beleaguered Iranian economy. The United States and the European Union have imposed sanctions on Iran to deter it from pursuing a nuclear weapons program.

  • ROME-- Prices for rice, wheat and other key foods are expected to remain volatile and possibly increase _ and poor farmers and consumers particularly in Africa will be hurt most, the U.N. food agencies said Monday.

  • LONDON-- Defense and aerospace companies BAE Systems PLC and EADS have hours to agree on whether to go ahead with a proposed merger that has prompted a wide range of concerns in Britain, France and Germany.

  • The video was shot using a hidden camera by a member of Mercy for Animals who got a job at Bettencourt Dairies' Dry Creek Dairy in Hansen for a few weeks this summer.

  • Just days after Southern California Edison asked the Nuclear Regulatory Commission for permission to repair and start the Unit 2 reactor, then run it at reduced power, the agency is facing pressure from groups critical of the nuclear power industry to initiate a review that could take months or even years to complete.

  • DUBAI, United Arab Emirates-- Flights were snarled at the Middle East's busiest airport in Dubai early Wednesday after a backup system needed to deal with heavy fog failed, forcing airlines to divert dozens of planes.