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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Nov 6- Power was restored to about 377,000 eastern U.S. homes and businesses from Monday afternoon through 9 a.m. EST on Tuesday, after damage from Hurricane Sandy, U.S. Department of Energy data showed.

  • NEW YORK, Nov 6- U.S. stocks added to gains and the Dow rose more than 1 percent on Tuesday as the prospect of a winner in the U.S. presidential election removed a major uncertainty that has been dogging investors. The Dow Jones industrial average was up 141.84 points, or 1.08 percent, at 13,254.28.

  • PARIS, Nov 6- Pernod Ricard plans to tap Africa's thirst for whisky, vodka and cognac at a time when China is slowing and bets the continent will become a key growth area for the French spirits group within 10 years.

  • Christos Bagios, formerly employed by Swiss financial giants UBS AG and Credit Suisse Group AG, changed his earlier plea from not guilty in the U.S. District Court for Southern Florida. A Greek citizen and Swiss resident, Bagios was sentenced by Judge Kenneth Marra to time already served, including 37 days in prison and nearly 19 months under house arrest in Miami.

  • News Summary: Commodities higher on Election Day Tuesday, 6 Nov 2012 | 4:37 PM ET

    GOLDEN GAINS: Gold rose 2 percent to finish at $1,715 per ounce as voters cast ballots in the presidential election. Other commodities also rose, including copper, oil, grains and soybeans. ELECTION WATCHERS: Many traders were waiting for the results of the hard-fought race between President Barack Obama and Mitt Romney.

  • HOUSTON, Nov 6- EOG Resources Inc plans to spend less on ``money-losing'' natural gas drilling next year, which will result in lower capital expenditures, the company's chief executive said Tuesday. EOG is drilling for pricier crude oil in basins including the Eagle Ford in south Texas and the Bakken in North Dakota while slowing natural gas drilling.

  • World economy slows heading into year-end -PMIs Tuesday, 6 Nov 2012 | 4:36 PM ET

    JPMorgan's Global All-Industry Output Index fell in October to 51.3 from September's 52.4, although it stayed above the 50 mark dividing growth from contraction. ``The start of the final quarter has seen global economic growth continue to track at a below long-run trend pace,'' said David Hensley, director of global economics coordination at JPMorgan.

  • Nov 6- Credit agency Moody's Investors Service said on Tuesday that superstorm Sandy will slash revenue and earnings at New Jersey's Atlantic City casinos and benefit home repair and discount retailers but will have limited impact on other sectors.

  • NEW YORK, Nov 6- U.S.

  • NYSE said on Tuesday it was ahead of schedule in a $250 million cost-cutting plan launched earlier this year, although savings had yet to show through on the bottom line as revenue fell faster than costs.

  • SARAJEVO, Nov 6- The Western Balkans is facing a double-dip recession this year led by a 2.5 percent contraction in Serbia, and recovery in 2013 will be ``very slow'', the World Bank warned on Tuesday.

  • *Nucor, Encana reach gas supply agreement. *Nucor shares rise 1.3 pct, Encana. CALGARY, Alberta, Nov 6- Nucor Corp said on Tuesday it has signed a deal to develop natural gas wells with Canada's Encana Corp it hopes will guarantee supply more than 20 years for its steel mills and other facilities in the United States.

  • NEW YORK, Nov 6- U.S.

  • NEW YORK, Nov 6- World stock markets rose on Tuesday as American voters went to the polls, with the tightly fought U.S. presidential election keeping trade subdued, while the euro held steady despite uncertainty over Greece's next financial aid payment.

  • *Freddie Mac has repaid 31 pct of total Treasury draw. Nov 6- Freddie Mac reported a third-quarter profit on Tuesday, driven by a U.S. housing market on the mend, and said it was not requesting funds from the U.S. Freddie Mac had net earnings of $2.9 billion in the quarter that ended Sept. 30, contrasting a $4.4 billion loss a year earlier.

  • Nov 6- Credit agency Moody's Investors Service said on Tuesday that superstorm Sandy will slash revenue and earnings at New Jersey's Atlantic City casinos and benefit home repair and discount retailers but will have limited impact on other sectors.

  • *Robusta hits lowest level since February, Vietnam crop weighs. LONDON, Nov 6- Robusta coffee futures on Liffe fell to a nine-month low on Tuesday with the market weighed by the prospect of a large harvest in Vietnam while ICE arabica coffee turned higher after setting a 4-1/ 2 month low.

  • The company has been working on keeping customers who switched to its stores during an impasse between larger drugstore rival Walgreen Co and pharmacy benefits manager competitor Express Scripts Holding Co.. Walgreen did not fill Express Scripts prescriptions from the beginning of the year until mid-September.

  • Quicksilver shares tumble on weak 3Q results Tuesday, 6 Nov 2012 | 3:46 PM ET

    FORT WORTH, Texas-- Shares of Quicksilver Resources Inc. tumbled Tuesday after the natural gas producer posted a $651.8 million third-quarter loss, hurt by one-time charges and a drop in natural gas prices.

  • NEW YORK, Nov 6- The number of U.S. job openings slipped slightly in September, suggesting the labor market is still recovering at a slow pace, data showed on Tuesday. Job openings- a measure of labor demand- fell to 3.56 million from 3.66 million in August, the Labor Department said in its monthly Job Openings and Labor Turnover Survey.