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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • NEW YORK, Nov 5- U.S. The Institute for Supply Management October services index read 54.2 in October, reflecting expansion in the service sector. Analysts are divided on the impact a victory of President Obama would have on financial markets versus the impact a Mitt Romney victory would have.

  • PREVIEW-Siemens under pressure to cut more costs Monday, 5 Nov 2012 | 3:04 PM ET

    *Siemens due to announce further details of savings plan. FRANKFURT, Nov 5- Germany's Siemens AG, looking to narrow the profitability gap with its competitors, could detail likely disposals and the scale of planned cost cuts when it reports results on Thursday.

  • U.S. service sector growth slips in Oct - ISM Monday, 5 Nov 2012 | 3:02 PM ET

    NEW YORK, Nov 5- The pace of growth in the U.S. services sector slowed modestly in October as new orders slipped, though employment improved, an industry report showed on Monday. The Institute for Supply Management said its services index eased to 54.2 last month from 55.1 in September, shy of economists' forecasts for 54.5, according to a Reuters survey.

  • PARIS, Nov 5- French industrialist Louis Gallois called for a patriotic effort to reverse declining competitiveness via shock therapy as he handed in a review on Monday which the Socialist government commissioned and is now under pressure to heed.

  • Nov 5- Morgan Stanley has revamped its institutional securities business, announcing on Monday that Paul Taubman will retire as co-head of the trading and banking unit while co-head Colm Kelleher will remain as president.

  • G20 seeks more wiggle room on austerity pledges Monday, 5 Nov 2012 | 2:54 PM ET

    MEXICO CITY, Nov 5- Leading world economies plan to give themselves more time to meet their own targets for cutting budget deficits rather than risk aggravating a slowdown in many countries, chief among them the United States, G20 finance officials said. But it now looks out of reach for many economies, including the United States, as growth has slowed.

  • Approval of the reforms and the passage of the 2013 budget are crucial to unlocking 31.5 billion euros in aid from an International Monetary Fund and European Union bailout that has been on hold since the summer.

  • *Hong Kong's gold shipments to China jump in September. The U.S. elections will be closely watched by financial markets, with incumbent Barack Obama seen as more supportive of continued stimulus measures, while Republican challenger Mitt Romney is expected not to favour additional easing.

  • Supplies were arriving in the New York and New Jersey region aboard barges and restarted pipelines, but there were still long lines at gasoline stations, some struggling with depleted inventories and power outages.

  • Nov 5- Netflix Inc has adopted a poison pill defense against a hostile takeover, it said on Monday, days after activist investor Carl Icahn disclosed a stake in the video rental company. Shares of Netflix fell 1.3 percent to $75.90 in early Nasdaq trading.

  • *ICE reports EPS of $1.79, vs expectations of $1.72. Nov 5- IntercontinentalExchange Inc reported a dip in third-quarter profit as over-the-counter North American natural gas and power contracts declined, but the results topped analyst expectations, helped by a lower tax rate and a drop in expenses.

  • NEW YORK, Nov 5- U.S. stocks opened little changed on Monday as cautious traders awaited Tuesday's presidential election to place bets on which sectors are likely to perform better depending on which political party wins. The Dow Jones industrial average was down 25.73 points, or 0.20 percent, at 13,067.43.

  • UPDATE 5-Oil dips near $105 after Sandy hits demand Monday, 5 Nov 2012 | 2:29 PM ET

    LONDON, Nov 5- Oil prices dipped towards $105 a barrel on Monday as investors remained cautious ahead of the U.S. presidential election and eyed demand destruction after Superstorm Sandy, whilst a stronger dollar also weighed.

  • NEW YORK, Nov 5- A week after superstorm Sandy wreaked havoc on New York City and the surrounding area, schools reopened on Monday and millions of commuters fought huge crowds to board subways, buses and suburban trains in an exhausting effort to get back to work.

  • Nov 5- Coal miner SouthGobi Resources Ltd said Chief Financial Officer Matthew O'Kane has resigned, months after the company fired its chief executive after Aluminum Corp of China Ltd dropped a $926 million bid.

  • Nov 5- Morgan Stanley has revamped its institutional securities business, announcing on Monday that Paul Taubman will retire as co-head of the trading and banking unit while co-head Colm Kelleher will remain as president.

  • LONDON, Nov 5- Stick, twist or fold? ``The total wallet back at the peak was about $14 billion for the banking sector in commodities trading. There were 10-14 banks when it was at $14 billion, now there are really five relevant ones,'' said David Silbert, who leads commodities trading at Deutsche Bank.

  • *Sees fiscal 2013 profit of $5.35- $5.75 a share. Nov 5- Rockwell Automation Inc, which makes systems that help factories run more smoothly, set a fiscal 2013 profit target that calls for roughly 5 percent growth in the face of a slowing global economy.

  • *Transocean shares rise after results. President Barack Obama and Republican challenger Mitt Romney sprinted through key states on the last day of campaigning for the White House, with investors eyeing some congressional races.

  • Nov 5- Brazil's Copersucar SA, the world's biggest sugar exporter, will take control of U.S.-based Eco-Energy to become the world's largest ethanol trader, Copersucar said on Monday.