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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • NEW YORK, Oct 29- Gasoline and heating oil futures jumped on Monday as Hurricane Sandy approached the U.S. East Coast and refineries in the region shut or curbed production.

  • Reuters Business News Schedule at 1330 GMT Monday, 29 Oct 2012 | 1:49 PM ET

    1530,1930 GMT- Franklin Paul, Chris Kaufman +1 646 223 6200.

  • *Euro falls on worries over Greece, Spain. Benchmark three-month copper on the London Metal Exchange traded down 1.36 percent at $7,710 a tonne in official midday rings, having earlier touched $7,698, its lowest since Sept. 7.

  • Colonial Pipeline, the largest U.S. product pipeline, is still shipping gasoline and diesel up from Gulf Coast refineries to the Linden, New Jersey terminus in the New York Harbor, spokesman Steve Baker said.

  • TOKYO, Oct 29- Nomura Holdings, Japan's largest investment bank, posted its fourth straight quarterly profit on Monday as an upswing in its fixed income operations helped it counter weak equity markets and the fallout from an insider trading probe.

  • NEW DELHI/ MUMBAI, Oct 29- India's government vowed on Monday to rein in the country's hefty fiscal deficit, increasing the pressure on the central bank on the eve of its next policy meeting to cut interest rates for the first time since April.

  • Treasury debt prices rose on Monday as a perceived rise in political risks in Italy and concerns about the strength of the U.S. economic recovery fueled safe-haven buying in thin trade as Hurricane Sandy was on track to pummel the U.S. East Coast.

  • WASHINGTON, Oct 29- U.S. consumer spending rose solidly in September as households stepped up purchases on automobiles and a range of other goods, but the increase came at the expense of savings. The Commerce Department said on Monday consumer spending rose 0.8 percent, the largest increase since February, after an unrevised 0.5 percent gain in August.

  • ZURICH/ LONDON, Oct 29- Shares in UBS soared on Monday after media reports the Swiss bank would announce up to 10,000 job cuts as it takes the knife to its investment banking operations, particularly its fixed income business.

  • *Dry weather seen helping Brazil sugar harvest. LONDON, Oct 29- Liffe robusta coffee futures fell to a seven-week low on Monday, under pressure from origin selling as top producer Vietnam's harvest picked up.

  • LONDON, Oct 29- Brent crude oil steadied around $110 a barrel on Monday as Hurricane Sandy, which forecasters said could be the largest storm ever to hit the North American mainland, approached the U.S.

  • *Petronas-Progress extend closing by 30 days to Nov. 30. KUALA LUMPUR, Oct 29- Malaysian state oil firm Petronas said on Monday it has extended the closing date on its bid for Canadian gas producer Progress Energy Resources until Nov. 30, as it works to overturn the Canadian government's rejection of the proposed deal.

  • NEW YORK, Oct 29- The euro slipped against the dollar and yen on Monday, hurt by uncertainty over whether Greece can agree to a deal on austerity and with no sign of when Spain might request aid. Unless Spain seeks a rescue, sentiment towards the euro is unlikely to turn positive, traders said.

  • *Most states have enough savings, $1.6 trillion in 2011. DUBAI, Oct 29- Most Arab oil exporting countries in the Gulf should plan to reduce growth in government spending to make their budgets more sustainable, as their combined surplus could turn into a deficit around 2017, the International Monetary Fund said on Monday.

  • *DOJ, SEC convinced enforcement changing corporate culture. At least eight of the world's top 10 drugmakers, including Bristol-Myers Squibb Co, Pfizer Inc and Johnson&, have disclosed U.S. probes under the 1977 Foreign Corrupt Practices Act.

  • Weak insurers and earnings worries hit Europe shares Monday, 29 Oct 2012 | 11:55 AM ET

    *FTSEurofirst 300 falls 0.6 pct to 1,090.86 points. *Euro STOXX 50 falls 0.9 pct to 2,473.28 points. LONDON, Oct 29- European shares fell for the first time in four sessions on Monday, with insurance stocks hit by concern about their exposure to the U.S. hurricane, while a backdrop of weak company results also weighed.

  • *Strong headwinds remain, with growing focus on France. BRUSSELS, Oct 30- Europe has won the immediate battle to save the euro, but the war to make the single currency sustainable in the long run has only just begun.

  • Oct 29- Visitor arrivals in Hong Kong in September rose 18.8 percent from a year earlier to about 3.79 million, data from the Hong Kong Tourism Board showed on Monday.

  • LONDON, Oct 29- As the Northeast United States locks down in the path of Hurricane Sandy, the freakishly large tropical storm careening in from the Atlantic, the main impact is likely to be on fuel demand rather than supply.

  • Oct 29- The weekly U.S. crop progress report that is normally released on Monday afternoons will be delayed as the federal government closes down ahead of Hurricane Sandy, the Department of Agriculture said. The USDA said the rescheduled release time would be announced as soon as offices reopen.