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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • NEW YORK, Feb 27- Puerto rico's debt-laden power authority, Prepa, said on Friday that it will hold off on presenting a restructuring plan to creditors as it continues to negotiate an extension of forbearance agreements with bondholders and lenders. The current agreement, which expires on March 31, had called for a deadline of this Monday for Prepa to unveil a...

  • Feb 27- About 50,000 of Uber's driver names and license numbers may be in the hands of an unauthorized third party due to a data breach that occurred last year, Los Angeles Times reported, citing the ride service provider's managing counsel of data privacy. The company could not say how the security vulnerability was first discovered because the matter is...

  • Shares of the bank plunged 46.3 percent and were then halted on Friday, after the FDIC recalled a press release announcing that the bank was closed. The FDIC said the press release, announcing that it had been appointed as receiver to the bank, had been sent in error. Doral was closed by the Office of the Commissioner of Financial Institutions of Puerto Rico, which...

  • RIO DE JANEIRO, Feb 27- Brazil's embattled state-run oil company Petroleo Brasileiro SA, said on Friday that its director of the company's powerful corporate services division will take a 90- day leave of absence on health grounds. Dutra, a former Brazilian Senator, was also Petrobras chief executive officer for two and a half years from 2002 to 2005 and...

  • NEW YORK, Feb 27- U.S. stocks closed lower on the last trading day of February after mixed U.S. economic data on a day when European stocks hit records and oil prices rebounded for their first monthly gain since June. The Nasdaq was the weakest of the three major U.S. indexes on Friday, weighed down by Apple Inc as some investors took profits ahead of its March 9 product...

  • WASHINGTON, Feb 27- The U.S. Federal Deposit Insurance Corporation said on Friday Puerto Rico-based bank Doral Financial Corp was closed, and its business taken over by Banco Popular de Puerto Rico.

  • NEW YORK, Feb 27- The S&P 500 posted its best monthly gain since October 2011 on Friday, but U.S. stocks ended lower for the day as U.S. economic growth slowed more sharply than initially thought in the fourth quarter. The S&P 500 gained 5.5 percent for the month, while the Nasdaq rose 7.1 percent, its best monthly performance since January 2012. That maybe set a tone for...

  • NEW YORK, Feb 27- Billionaire Ira Rennert and his investment firm were ordered on Friday to pay $118.2 million after being found liable for looting a magnesium company to build one of the most expensive mansions in America. A Manhattan federal jury found Rennert and Renco Group Inc liable for breach of fiduciary duty and other claims following a three-week...

  • *Treasuries set for weakest month since May 2013. U.S. government securities have posted a combined loss of 1.6 percent in February through Thursday, according to Barclays data, the biggest decline since May 2013. "Growth isn't spectacular, but it's still very robust, and this completely and conclusively will support a Fed reaching normalization," said Edward...

  • NEW YORK, Feb 27- Shares of San-Juan, Puerto Rico- based lender Doral Financial Corp plunged 46.3 percent and were then halted on Friday, following a U.S. Federal Deposit Insurance Corp recall of a press release announcing that the bank was closed. The FDIC said the press release, announcing that it had been appointed as receiver to the bank, had been sent in error.

  • NEW YORK, Feb 27- U.S. "Gold's just not in vogue right now and the average investor is trying to chase the stock market," said David Beahm, executive vice president for Blanchard& Co, a large precious metals retailer in New Orleans. Meanwhile, the spot gold market has been rangebound between $1,130- $1,392 per ounce for the past year.

  • WASHINGTON, Feb 27- The Air Force urgently needs a new long-range bomber to replace its aging fleet and will keep costs at or below a $550 million cap for each warplane, top U.S. officials told lawmakers on Friday. Air Force Secretary Deborah James said the Air Force understood that runaway costs had to be contained, and noted that a sharp reduction from the planned...

  • Feb 27- U.S. stocks closed lower on Friday as data showed U.S. economic growth slowed more sharply than initially thought in the fourth quarter, but the S&P 500 posted its best monthly performance since October 2011.

  • The U.S. Department of Agriculture's Risk Management Agency, which oversees the multibillion-dollar crop insurance program, by law uses the average price in February for harvest-time grain futures contracts to set the "floor" price that private insurers must guarantee farmers who sign up. Based on Friday's futures closes, the RMA is expected to set the floor...

  • MINT AMERICAN EAGLE GOLD COIN SALES IN FEBRUARY FALL 77 PCT TO 18,500 OZ.

  • CHICAGO, Feb 27- Just a week into the Chinese "Year of the Goat," chefs in New York are sharpening their knives and diners are preparing to drool over bowls of braised goat shoulder tortellini in a smoked broth and plates of rosemary-goat cheese ice cream. The homage dinner menu to the bleating ruminant at Craft Restaurant in New York on Friday night is just the tip of...

  • NEW YORK, Feb 27- U.S. stocks edged down late in Friday's session on the last trading day of February, led by technology stocks, but oil prices rebounded for their first monthly gain since June. European shares broke multi-year records ahead of the European Central Bank's planned moves to stimulate growth. The Nasdaq was the weakest of the three major U.S. indexes,...

  • NEW YORK, Feb 27- The dollar index ended little changed on Friday as it stayed on track for a record eighth month of gains on improving U.S. data and comments from Federal Reserve officials that bolstered bets for a interest rate rise later this year. "The trend is still in place to support the dollar," said Eric Viloria, currency strategist at Wells Fargo Securities in...

  • NEW YORK, Feb 27- Billionaire Ira Rennert and his investment firm were ordered on Friday to pay more than $118 million after being found liable for looting a magnesium company to build one of the most expensive mansions in America. A Manhattan federal jury found Rennert and his Renco Group Inc liable for breach of fiduciary duty and other claims following a...

  • *Brent premium over U.S. crude widens to $13. *Baker Hughes data shows pace of rig count drop slows. Both Brent and U.S. futures briefly pared gains after data from Baker Hughes Inc showed its U.S. oil drilling rig count fell only 33 to 986 this week, after a decline of only 37 last week.