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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • NEW YORK, Nov 6- Oil surged more than 2 percent on Tuesday, rallying for a second straight day and receiving a lift from gains on Wall Street and a weaker dollar as investors awaited U.S. election results. President Barack Obama and Republican challenger Mitt Romney were neck-and-neck as Americans cast votes for president and Congress, polls showed on Tuesday.

  • GRAINS-U.S. wheat rises; corn and soy also firm Tuesday, 6 Nov 2012 | 6:21 PM ET

    CHICAGO, Nov 6- U.S. wheat futures rose for the second day in a row o n T uesday amid concerns over the poor condition of the just-planted winter crop in the United States and weather trouble in major exporters Australia and Argentina.

  • NEW YORK, Nov 6- U.S. stocks climbed on Tuesday on speculation the U.S. presidential election will produce a clear winner, removing a major source of uncertainty that has dogged investors. ``I think it's relief that hopefully the election will be over,'' said Fred Dickson, chief market strategist at D.A. Davidson& Co. in Lake Oswego, Oregon.

  • UPDATE 2-Ukraine moves to defend currency peg Tuesday, 6 Nov 2012 | 6:18 PM ET

    KIEV, Nov 6- Ukraine's parliament voted on Tuesday to give the central bank legal powers to force exporters to convert at least part of their foreign currency earnings into hryvnias, indicating Kiev aims to keep its currency pegged at current levels.

  • Nov 6- Liberty Media Corp reported a 3 percent increase in quarterly revenue, helped by a rise in subscribers at flagship networks Starz and Encore. John Malone's Liberty Media is trying to gain full control of satellite radio broadcaster Sirius XM Radio Inc, in which it owns a nearly 50 percent stake.

  • BRASILIA/ SAO PAULO, Nov 6- Brazil's government will exclude up to 42 billion reais in public spending from the calculation of the so-called primary budget surplus this year, Finance Minister Guido Mantega said on Tuesday, in an accounting maneuver aimed at meeting a closely watched budget target.

  • Reuters World News Highlights 1800 GMT Nov 6 Tuesday, 6 Nov 2012 | 6:01 PM ET

    WASHINGTON- President Barack Obama and Republican challenger Mitt Romney battled down to the wire on Tuesday, mounting a last-minute Election Day drive to get their supporters to the polls in a handful of states that will decide the winner in a neck-and-neck race for the White House.

  • Nov 6- Superstorm Sandy will slash earnings at New Jersey casinos and benefit home repair and discount retailers but have limited impact on other sectors and is unlikely to trigger credit downgrades, credit agency Moody's Investors Service said.

  • PARIS, Nov 6- France is to grant 20 billion euros in annual tax credits to companies as a way of lowering labour costs, in a tougher-than-expected response to calls from business leaders to reverse decades of industrial decline.

  • BRUSSELS, Nov 6- Agency Moody's cut its rating for the debt of ArcelorMittal to junk with a negative outlook on Tuesday, reflecting a collapse in world steel markets it said would get worse before they got better.

  • *Hungary was about to revisit law on judiciary anyway- PM. BRUSSELS/ BUDAPEST, Nov 6- Hungary on Tuesday pledged to rewrite a law that forced judges to retire at an earlier age after the European Union's highest court ruled that the bill violated the EU's rules and must be repealed.

  • Nov 6- More than 895,000 homes and businesses along the U.S. East Coast remained without power on Tuesday, eight days after Hurricane Sandy slammed into the region. Sandy made landfall in New Jersey on the night of Oct. 29. Power companies said the storm affected about 8.48 million customers in 21 states, according to a U.S. Department of Energy report.

  • *China spot copper demand still sluggish. LONDON, Nov 6- Copper rose slightly on Tuesday, recovering from a two-month low hit the previous session, as the lower price triggered new buying, but gains were capped by uncertainty ahead of the presidential election in the United States.

  • Nov 6- U.S. biofuel providers are being allowed to reroute critical supplies to New Jersey to help alleviate shortages caused by Hurricane Sandy, two U.S.

  • Nov 6- Express Scripts Holding Co on Tuesday said its business of managing pharmacy benefits for large employers will come under pressure next year due to a weak economy, but investors questioned whether the company's own strategy was on track.

  • *Q3 revenue 18.8 bln euros vs 17.7 bln forecast. FRANKFURT, Nov 6- BMW, the world's largest premium carmaker, warned it was beginning to feel the pain of a sickly European market, overshadowing strong quarterly results and a forecast for record annual profit.

  • NEW YORK, Nov 6- U.S. stocks extended gains on Tuesday, with both the Dow and the S&P 500 up more than 1 percent, as voters chose the next president. The Dow Jones industrial average was up 169.58 points, or 1.29 percent, at 13,282.02. The Nasdaq Composite Index was up 21.82 points, or 0.73 percent, at 3,021.48.

  • LONDON, Nov 6- Gold rose for a second day on Tuesday, largely tracking equities, as the market watched the U.S. presidential election in which a win for President Barack Obama could boost bullion by raising expectations for Federal Reserve stimulus.

  • Opinion polls showed incumbent Barack Obama and Republican challenger Mitt Romney in a dead heat, although the president has a slight advantage in several swing states. If Congress cannot agree new arrangements, about $600 billion in government spending cuts and higher taxes will kick in early next year, all of which could hurt U.S. economic growth.

  • Kazakh bank BTA poised to seize oligarch's assets Tuesday, 6 Nov 2012 | 5:09 PM ET

    *UK gave him political asylum. LONDON, Nov 6- Mukhtar Ablyazov, a fugitive oligarch accused of embezzling more than $5 billion, was labelled ``devious'' and ``cynical'' by judges on Tuesday as his former Kazakh bank BTA prepared to pounce on his assets.