CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • ZURICH, Sept 3- A ship built by the CIA for a secret Cold War mission in 1974 to raise a sunken Soviet sub is heading to the scrap yard, a victim of the slide in oil prices. Christened the Hughes Glomar Explorer, after billionaire Howard Hughes was brought in on the CIA's deception, the 619- foot vessel eventually became part of the fleet of ships used by Swiss company...

  • PORTLAND, Maine, Sept 3- Leon Gorman, former president and chairman of family-owned L.L. Bean Inc, Maine's trademark outdoor gear and clothing company, has died of cancer, the company said on Thursday. Gorman, known among employees for his soft-spoken manner and for often bringing his hunting dogs into the office, helped to take the family business from a folksy $4.8...

  • *Some people see parallels with Greece. LONDON, Sept 3- Bondholders cheering Ukraine's debt swap face the risk that Kiev will return to the bargaining table within a few years, following the path Greece trod after its 2012 restructuring. Ukraine's sovereign bonds have rallied 40 percent to trade up to 75 cents per dollar of face value following the Aug. 27...

  • US STOCKS-Wall St rally fades ahead of key jobs data Thursday, 3 Sep 2015 | 1:40 PM ET

    *Joy Global falls after slashing full-year forecast. Sept 3- Wall Street's early rally faded in afternoon trading on Thursday as investors appeared to turn cautious ahead of a key U.S. jobs report, which is expected to figure in the Federal Reserve's decision on when to lift interest rates. The market rose sharply earlier in the day after European Central Bank...

  • JPMorgan's Global All-Industry Output Index, produced with private data vendor Markit, held steady at July's 53.7 last month and has been above the 50 mark that divides growth from contraction since October 2012. Markit's global service sector purchasing managers index rose to 54.4 in August from 54.1 in July, though on Tuesday the world manufacturing PMI...

  • Gun maker Colt says near deal to exit bankruptcy Thursday, 3 Sep 2015 | 1:27 PM ET

    WILMINGTON, Del, Sept 2- Gun maker Colt Defense and its creditors are close to a deal on a plan to bring the company out of bankruptcy, but if it fails, the business will go on the auction block next month, a company lawyer told a judge on Thursday. "It's fair to say the parties are very close to a deal," Colt lawyer John Rapisardi told the U.S. Bankruptcy Court in Wilmington,...

  • BRENT CRUDE FUTURES TURN LOWER AS U.S.

  • U.S. small business hiring accelerates in August Thursday, 3 Sep 2015 | 1:13 PM ET

    WASHINGTON, Sept 3- U.S. small businesses stepped up hiring in August and more employers reported they could not find qualified workers for open positions, indicating the labor market was tightening. The National Federation of Independent Business said on Thursday that small-business owners added a net 0.13 worker per company last month, up from 0.05 in July.

  • *MSCI global stocks index climbs. NEW YORK, Sept 3- The euro fell 1 percent on Thursday on a darkening euro zone outlook, while global stock markets rallied as the European Central Bank chief pledged to beef up or prolong the bank's economic stimulus if necessary. ECB President Mario Draghi's comments on the bank's bond-buying program came as the bank cut its...

  • *B&G to also buy General Mills' Le Sueur canned vegetables unit. Sept 3- Snack food company B&G Foods Inc said it would buy General Mills Inc's Green Giant frozen foods and Le Sueur canned vegetables brands for about $765 million to expand its distribution network and enter the frozen foods market. B&G plans to double the amount General Mills has been spending on...

  • NEW YORK, Sept 3- Los Angeles has dropped a lawsuit accusing JPMorgan Chase, the largest U.S. bank, of discriminatory mortgage lending, ending the first of the city's four lawsuits accusing major banks of driving up foreclosures among minority borrowers. Los Angeles is still pursuing similar complaints against Bank of America, Wells Fargo& Co and Citigroup Inc..

  • NEW YORK, Sept 3- Crude futures rose for a second straight session on Thursday on the strength of equity markets as a respite in bad news out of China and the potential for more European monetary easing added to risk taking in oil. U.S. crude's front-month showed a gain of $1.10 at $47.35, versus a session high above $48. "You can call it a risk on day," said Tariq Zahir, a...

  • BEIJING/ MOSCOW, Sept 3- Russia and Venezuela need to combine efforts to lift oil prices, President Vladimir Putin told his Venezuelan counterpart Nicolas Maduro on Thursday, but refused to spell out any specific action, including output cuts. The economies of major producers Russia and Venezuela are highly dependent on proceeds from the sale of oil, the price of...

  • WASHINGTON, Sept 3- The United States has imposed sanctions on Russian and Chinese companies, including Russian state-owned arms exporter Rosoboronexport, for violating a U.S. law restricting weapons trade with Iran, North Korea and Syria. The State Department's notice did not specify how each company had run afoul of the United States' Iran, North Korea, and...

  • *Chicago, Paris wheat fall to fresh contract lows. CHICAGO, Sept 3- U.S. wheat futures sank to multiyear lows on Thursday, weighed down by ample supplies and weak demand for U.S. exports, traders said. Egypt's government buyer is holding an import tender on Thursday and traders are waiting to see if Black Sea origins continue their clean sweep of sales this season.

  • Ford opens $275 mln engine plant in Russia Thursday, 3 Sep 2015 | 12:14 PM ET

    MOSCOW, Sept 3- U.S. carmaker Ford's Russian venture, Ford Sollers, opened a $275 million engine plant on Thursday, which will help make its Russian-produced vehicles less dependent on imported components and currency fluctuations. Ford does not currently make any engines in Russia. New car sales in Russia are forecast to drop 36 percent this year to 1.55 million,...

  • Sept 3- Medtronic Plc, the world's largest standalone medical device maker, reported a 70 percent rise in quarterly revenue, helped by higher sales across its business lines, in part due to the acquisition of surgical products provider Covidien Plc. An improving U.S. economy and the impact of the affordable care act has driven an increase in the number of surgical...

  • LONDON, Sept 3- Giving cheap aspirin to cancer patients may turbo-charge the effectiveness of expensive new medicines that help their immune systems fight tumours, experiments on mice suggest. One reason is that cancer cells often produce large amounts of the molecule prostaglandin E2, which turns down the immune system's normal attack response to tumour...

  • *Sees further threats from China, emerging markets. FRANKFURT, Sept 3- The European Central Bank cut its growth and inflation forecasts on Thursday, warning of possible further trouble from China and paving the way for an expansion of its already massive 1 trillion-euro plus asset-buying programme. The ECB, which left interest rates unchanged in a widely...

  • *Joy Global falls after slashing full-year forecast. Sept 3- Wall Street extended its gains on Thursday as data pointed to a strengthening U.S. economy and European Central Bank chief Mario Draghi hinted at additional stimulus measures. The ECB also cut its inflation and growth forecasts for the euro zone in the wake of lower oil prices, weaker growth in China and...