CNBC Utilities Page Latest Business News Wires - Business Headlines

  • NEW YORK-- An analyst on Tuesday cut shares of power provider Edison International to "Hold," saying the stock won't likely grow enough this year to warrant a "Buy" rating. Paul Fremont of Jefferies& Co. cited uncertainty regarding a pending case on power rates, rising costs and a long-shuttered nuclear plant as major factors in the downgrade.

  • The diner-style chain said on Tuesday it and regional partner Saleh Bin Lahej Group plan to open 40 restaurants starting next year across the United Arab Emirates, a seven-state federation that includes the cities of Dubai and Abu Dhabi.

  • A unionized job once meant a secure path to a middle-class life. President Barack Obama has signed a series of executive orders that encourage the use of union labor in federal construction projects, ease union financial reporting requirements and more.

  • WHITEHOUSE STATION, N.J.-- The drugmaker Merck& Co. announced Tuesday that it will move its global headquarters within New Jersey as it looks to lower operating expenses and consolidate its properties. The company's headquarters are moving about 25 miles east from Whitehouse Station to another Merck site in Summit, which is about 12 miles west of New York City.

  • PORT-AU-PRINCE, Haiti-- Haiti's government wants to raise $100 million for a special education fund by putting additional taxes on alcohol, cigarettes and gambling, the Caribbean nation's prime minister said Monday.

  • NEW YORK-- As many as 13,000 people received steroid shots suspected in a national meningitis outbreak, health officials said Monday. Those injected in joints are not believed to be at risk for fungal meningitis, said Curtis Allen, a spokesman for the Centers for Disease Control and Prevention.

  • LOS ANGELES-- Mitt Romney may want to reconsider his campaign strategy involving the pint-size voters of tomorrow. The Republican presidential candidate skipped the chance to take part in Nickelodeon's "Kids Pick the President" special that includes President Barack Obama, said Linda Ellerbee, the show's host and executive producer.

  • SAN FRANCISCO-- California has set a state record for gasoline prices _ but the hikes may be slowing. The highest average price in the state, at $4.75, is in the San Luis Obispo, Atascadero and Paso Robles area.

  • SAN FRANCISCO-- Exactly one month from Election Day, Republican Mitt Romney and President Barack Obama are both declaring they will win a race for the White House that remains anything but clear. Their trails are crossing again in Ohio, the state that could decide the election, and signs of urgency are emerging from each campaign.

  • LONDON-- British police on Monday arrested the man who told journalists he was responsible for scrawling graffiti on a mural by modern American master Mark Rothko at London's Tate Modern museum.

  • NEW YORK-- Jim Lehrer said Monday that he accomplished precisely what he wanted to while moderating the first presidential debate: get Mitt Romney and Barack Obama talking to each other.

  • GENEVA-- Swiss private bank Julius Baer says it plans to cut about 1,000 jobs from Merrill Lynch's wealth management operations outside the United States following a deal to buy the unit from Bank Of America.

  • When the Kinect system was unleashed two years ago for the Xbox 360, there were promises that the camera-based, gesture-detecting gadget could turn users' bodies into paintbrushes, allow them to chat with a virtual lad named Milo, transform real-world skateboards into digital ones and transport wannabe Jedis to a galaxy far, far away.

  • HOUSTON-- MRC Global Inc. on Tuesday issued strong third-quarter financial guidance and raised the high end of its revenue prediction for the full year. The Houston- based global energy products distributor, which went public in April, said it expects to post third-quarter net income of between 45 cents and 52 cents per share.

  • HOFFMAN ESTATES, Ill.-- Sears expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoff of its Hometown and Outlet stores. Sears Holdings Corp. had signaled in February that it would split off the companies as a separate publicly traded entity.

  • NEW YORK-- Stock futures were mixed Tuesday with a new outlook on the global economic landscape y providing markets with fewer reasons to overlook what is likely to be a weak quarter for many of the biggest U.S. corporations.

  • MADRID-- Spain's Red Cross is launching its first-ever public appeal for donations to help the growing number Spaniards in need of help because of the country's economic crisis. The agency helped some 2 million people in Spain last year, most of who were in need of food or money. Spain is in its second recession in three years with near 25 percent unemployment.