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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • Feb 11- PepsiCo Inc reported a better-than-expected quarterly profit, helped by higher sales at its Frito-Lay snack business, and said it would buy back shares worth up to $12 billion by 2018.. Pepsi also hiked its annual dividend by 7.3 percent to $2.81 per share and said it expects to return about $8.5- $9 billion to shareholders through dividends and buybacks...

  • *PepsiCo climbs in premarket after results. *Rite Aid to buy EnvisionRx for about $2 billion. *PepsiCo rose 2.6 percent to $100.50 before the opening bell after the maker of soft drinks and Tropicana beverages posted quarterly results.

  • RIO DE JANEIRO, Feb 11- Retail sales in Brazil declined at the sharpest pace on record in December, capping their weakest year since 2003, brought lower by a disappointing Christmas shopping season. Weak consumption is one of the clearest signs of the malaise hanging over Brazil's economy. Consumer goods companies from cosmetics maker Natura SA to apparel...

  • Thomson Reuters Corp sees revenue growth in 2015 Wednesday, 11 Feb 2015 | 7:22 AM ET

    Feb 11- Thomson Reuters Corp said on Wednesday it expects its revenue to grow in 2015 and reported that it added more sales for its products to financial customers in the fourth quarter. For the fourth quarter, total revenue rose 1 percent before currency changes to $3.2 billion. Adjusted for special items, income was $347 million, or 43 cents per share, compared...

  • Time Warner profit falls 27 pct on weak studio revenue Wednesday, 11 Feb 2015 | 7:18 AM ET

    Feb 11- Time Warner Inc reported a 27 percent fall in quarterly profit, hurt by a decline in revenue in its Warner Bros movie studio business. Net income attributable to Time Warner shareholders fell to $718 million, or 84 cents per share, for the fourth quarter ended Dec. 31 from $983 million, or $1.06 per share, a year earlier. Revenue fell 1 percent to $7.53 billion.

  • UPDATE 1-Air Canada's net loss widens as costs jump Wednesday, 11 Feb 2015 | 7:18 AM ET

    Feb 11- Air Canada, the largest airline in the country by revenue, reported a bigger quarterly net loss as a weak Canadian dollar contributed to a 9 percent rise in operating costs. Air Canada said fuel costs fell 8.7 percent in the quarter. Net loss widened to C $100 million, or 35 Canadian cents per share, from C $6 million, or 2 Canadian cents, a year earlier.

  • LONDON, Feb 11- New ground rules to help companies raise funds privately across Europe have been introduced as the EU financial industry seeks to reduce a reliance on banks and U.S. investors. Banks are traditionally the main source of corporate funding in Europe, but EU officials want to increase how much cash for companies is raised from markets, to make the...

  • MOSCOW, Feb 11- Russian Economy Minister Alexei Ulyukayev said on Wednesday that the country's budget would run a deficit this year of around 3.8 percent of gross domestic product, based on new macroeconomic forecasts recently released by his ministry.

  • Feb 11- Drugstore operator Rite Aid Corp said it would buy privately held pharmacy benefit manager EnvisionRx for about $2 billion.

  • AMSTERDAM, Feb 11- Cyber attackers crippled the Dutch government's main websites for most of Tuesday and back-up plans proved ineffective, exposing the vulnerability of critical infrastructure at a time of heightened concern about online security. The United States has beefed up cybersecurity laws and created an intelligence-gathering unit to...

  • AOL's revenue rises 4.6 pct on strong advertising sales Wednesday, 11 Feb 2015 | 7:07 AM ET

    Feb 11- AOL Inc, owner of the Huffington Post news website and the TechCrunch blog, reported a 4.6 percent rise in quarterly revenue, helped by strong advertising sales. Net income attributable to AOL rose to $59.6 million, or 73 cents per share, in the fourth quarter ended Dec. 31, from $36.0 million, or 43 cents per share, a year earlier. Revenue rose to $710.3 million...

  • PepsiCo quarterly revenue falls 1 pct Wednesday, 11 Feb 2015 | 7:04 AM ET

    Feb 11- PepsiCo Inc, the maker of Mountain Dew and Tropicana beverages, reported a 1 percent fall in quarterly revenue as a stronger dollar hurt revenue from international markets. The company's net revenue fell to $19.95 billion in the fourth quarter ended Dec. 27, from $20.12 billion a year earlier. Net income attributable to the company fell to $1.31 billion, or...

  • CAIRO, Feb 11- The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011.. However, Egypt has received billions of dollars in aid from Gulf states since ex-army chief Abdel Fattah al-Sisi ousted president Mohamed...

  • UPDATE 1-Wal-Mart says to invest C$340 mln in Canada Wednesday, 11 Feb 2015 | 6:59 AM ET

    Feb 11- Wal-Mart Stores Inc said it would invest about C $340 million this fiscal year to expand in Canada, lower than what it had budgeted for last year. Wal-Mart's move comes less than a month after rival Target Corp said it would exit Canada. Sales and margins at both Sears and Target have dwindled in Canada in the face of stiff competition from Wal-Mart.

  • Portugal sold 1.25 billion euros in 10- year bonds at record low auction yields. "Portugal did a great job decoupling itself from Greece," said Jean-Francois Robin, head of rates strategy at Natixis. "The macroeconomic situation, the debt sustainability in Portugal doesn't deserve comparison with Greece.

  • Feb 11- Health insurer WellCare Health Plans Inc reported a 82 percent fall in quarterly profit, due to expenses related to severe flu season in the United States. The company's net income fell to $7.7 million, or 18 cents per share, in the fourth quarter, from $42.9 million, or 97 cents per share, a year earlier. WellCare said it incurred about $15.1 million, or 22 cents...

  • ATHENS, Feb 11- Greece's government said on Wednesday it was sticking to plans to halt the sale of its two biggest ports, Piraeus and Thessaloniki, rebuffing reports it was having second thoughts. China's Cosco manages two of Piraeus port's cargo piers and had been shortlisted along with another four suitors as potential buyers of a 67 percent stake in the port...

  • KIEV, Feb 11- President Petro Poroshenko said on Wednesday Ukraine was prepared to introduce martial law across Ukraine if the separatist conflict in the east escalates further, news agency Interfax reported. Speaking ahead of a peace summit of leaders of France, Germany, Russia and Ukraine, Poroshenko said Kiev's key position at talks would be aimed at...

  • LONDON, Feb 11- SABMiller is exploring the possibility of snapping up a stake in Myanmar's biggest brewer, a deal that would make it the partner of a conglomerate with ties to the former ruling military, sources familiar with the matter say. The sources, who declined to be identified because the matter is private, said SABMiller was interested.

  • Unease over Greece pegs back European shares Wednesday, 11 Feb 2015 | 6:27 AM ET

    PARIS, Feb 11- European shares slipped on Wednesday, with investors uneasy over how euro zone ministerial meetings on Greece's debt crisis will pan out. National Bank of Greece dropped 9.4 percent, Bank of Piraeus shed 4.7 percent while Athens ATG equity index fell 3.2 percent, giving up ground following an 8 percent rise on the Athens market on Tuesday.