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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • HOUSTON, Feb 25- The largest U.S. refinery strike since 1980 continued through its 25th day on Wednesday with no movement toward renewed talks to end a walkout by 6,550 union workers at 15 plants, including 12 refineries accounting for one-fifth of domestic capacity. A spokesman for lead refinery owner representative Shell Oil Co, the U.S. arm of Royal Dutch Shell...

  • WILMINGTON, Del., Feb 25- RadioShack Corp got approval on Wednesday from a U.S. Bankruptcy Court judge to auction about 2,000 stores with an initial $200 million bid from the Standard General hedge fund. Wednesday's hearing was the first time the bankrupt company has put an estimated value on the sale agreement with Standard General, which will keep about half of...

  • TORONTO, Feb 25- Canada's new rail safety legislation would make it possible for governments to recover costs from railways for any fire they cause, not just accidents that involve crude oil, said Transport Canada, a change that could force railways to pay millions in costs associated with forest fires. Canadian National Railway Co, which is in a legal dispute...

  • Feb 25- Workday Inc reported a better-than-expected 60 percent jump in quarterly revenue, helped by strong subscription growth for its web-based human resources software, particularly in Germany and Japan. Workday, whose rivals include SAP SE and Oracle Corp, said subscription revenue rose 64.3 pct to $181.9 million in the quarter. Net loss attributable to...

  • WASHINGTON/ DETROIT, Feb 25- A U.S. safety regulator on Wednesday ordered Takata Corp to preserve all air-bag inflators removed through a recall process as evidence for both a federal investigation and private litigation cases. Secretary of Transportation Anthony Foxx also prohibits Takata from destroying or damaging any air-bag inflators except those...

  • SYDNEY, Feb 26- Australia's Qantas Airways Ltd on Thursday reported its best first-half profit in four years as its cost-cutting programme bore fruit and lower oil prices trimmed fuel expenses. Qantas said underlying profit before tax, the most closely watched measure, was A $367 million, overshooting its own forecast in December of a profit between A $300...

  • Actavis' superbug antibiotic gets U.S. approval Wednesday, 25 Feb 2015 | 5:28 PM ET

    Feb 25- The U. S Food and Drug Administration approved on Wednesday Actavis Plc's antibiotic to treat two infections caused by drug-resistant bacteria, or superbugs. The decision comes after a panel advising the agency recommended approval of the drug, Avycaz, in December. The drug, used in combination with generic antibiotic metronidazole, aims to treat adults...

  • NEW YORK, Feb 25- A former hedge fund manager who provided evidence for dozens of insider trading convictions, including that of Galleon Group hedge fund founder Raj Rajaratnam, avoided prison on Wednesday at his sentencing in Manhattan federal court. Thomas Hardin, who previously ran Lanexa Management LLC, pleaded guilty in 2010 to conspiracy and securities...

  • Viking boats to cruise Mississippi River Wednesday, 25 Feb 2015 | 5:22 PM ET

    NEW ORLEANS, Feb 25- Viking Cruises Ltd will establish its first North American beachhead, a homeport in New Orleans, and will offer cruises up the Mississippi River starting in 2017, the company and Louisiana officials announced. The company- whose boats ply the rivers of Europe, Russia, China, Southeast Asia and Egypt- will begin cruising the Mississippi with two...

  • Agriculture Minister Katia Abreu said after a meeting with truckers in Brasilia on Wednesday afternoon that she was confident both sides would reach agreement. Truckers and transport companies failed to reach an agreement over freight rates by the end of the government-led talks Wednesday evening, said Blairo Maggi, a prominent senator from the leading...

  • SYDNEY, Feb 26- Australia's Qantas Airways Ltd on Thursday reported its best first-half profit in four years as its cost-cutting programme bore fruit and lower oil prices trimmed fuel expenses. Qantas said underlying profit before tax, the most closely watched measure, was A $367 million, overshooting its own forecast in December of a profit between A $300...

  • U.S. Senate committee postpones hearing on trade Wednesday, 25 Feb 2015 | 5:13 PM ET

    WASHINGTON, Feb 25- A key U.S. Senate committee postponed a hearing planned for Thursday on trade and its chairman said talks were continuing on the final form of a bill to streamline the passage of trade deals through Congress. Senate Committee on Finance Chairman Orrin Hatch, a Republican, said he was still in discussions with the top Democrat on the panel, Ron...

  • Feb 25- Cloud software company Salesforce.com Inc raised its full-year revenue forecast, betting on higher demand for its web-based sales and marketing software and services. Salesforce forecast revenue of $6.48 billion to $6.52 billion for the year ending January 2016, up from $6.45 billion- $6.5 billion it forecast in November. The company's net loss...

  • SAFT ON WEALTH-Sin seems to be its own reward Wednesday, 25 Feb 2015 | 5:07 PM ET

    Feb 25- Virtue in investment terms may be its own reward, but the evidence shows sin pays better. Shares in industries with unsavory associations such as alcohol, tobacco and gambling have long-term track records of outperforming the rest of the market. "Much of the evidence that we review suggests that...' sin' pays," Elroy Dimson, Paul Marsh and Mike Staunton of the...

  • KIEV, Feb 25- Ukraine's central bank unexpectedly banned most currency trading on Wednesday, only to abruptly reverse the decision overnight, causing havoc in the market for the plunging hryvnia. The ban had been imposed in the morning, drawing a rebuke from Prime Minister Arseny Yatseniuk, and had been due to stay in place until the end of the week.

  • *Decline in Apple weighs on S&P and Nasdaq. NEW YORK, Feb 25- Wall Street lagged a rise in global markets on Wednesday, with the S&P 500 and the Nasdaq closing slightly lower even as energy shares gained along with a surge in oil prices. On Wall Street, a sharp drop in shares of Apple Inc took a toll on the S&P 500 and Nasdaq, but the Dow marked another record closing high,...

  • BUENOS AIRES/ NEW YORK, Feb 25- Argentina, a pariah of the global debt market for more than a decade, believes it has an opportunity to raise debt internationally and on Wednesday begun marketing a new bond issue to non-U.S. investors. The government has begun marketing a new issue of Bonar 2024 notes as it seeks to raise cash ahead of upcoming maturities and avoid...

  • Working with investigators from Germany, Italy, the Netherlands and Britain, it was assisted by AnubisNetworks, a unit of BitSight Technologies; Microsoft Corp and Symantec Corp in dismantling the server infrastructure used by the criminals, Europol said. Authorities simultaneously seized servers in four countries after Microsoft and the Washington-...

  • WASHINGTON, Feb 25- The International Monetary Fund on Wednesday said it was ready to assist Ukraine with its foreign currency issues, amid a steep fall in the country's hryvnia currency. The IMF also said it was still waiting for Ukraine to complete prior actions before it could bring the loan program for approval to its board. But it emphasized that the funds...

  • NEW YORK, Feb 25- The S&P 500 closed down and the Nasdaq snapped a 10- session winning streak on Wednesday as investors took profits in Apple shares, while the Dow eked out another record high close. The S&P 500 consumer discretionary index added 0.8 percent, with shares of TJX up 3.3 percent at $69.38 after results. Federal Reserve Chair Janet Yellen's testimony to...