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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • 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.

  • NEW YORK, Oct 29- U.S. stock index futures fell on Monday with investors continuing to fret about the weak revenue picture developing for corporate America, and as U.S. cash equity markets will be closed due to a huge hurricane expected to hit the U.S. East Coast the later in the day.

  • LONDON,- Copper hit a 7- week low on Monday as the euro edged lower and as concern about global growth, sparked by disappointing corporate earnings, dented risk appetite and overshadowed solid U.S. third quarter economic growth.

  • BUDAPEST, Oct 29- Hungary appeared to cast doubt on Monday on prospects for an International Monetary Fund/European Union funding pact, with Budapest's negotiator saying ``life would go on'' even without a deal. Mihaly Varga, Hungary's minister in charge of the negotiations, also played down what an IMF/EU deal would do to attract investors.

  • *Resource stock performance tied to China, commodities.

  • *U.S. East Coast refineries cut output ahead of hurricane. LONDON, Oct 29- Brent crude oil fell towards $109 a barrel on Monday as U.S. East Coast refineries shut ahead of the approach of Hurricane Sandy, reducing crude use in the world's largest oil consumer.

  • Clean Harbors to buy Safety-Kleen for $1.25 bln Monday, 29 Oct 2012 | 11:08 AM ET

    Oct 29- Waste management company Clean Harbors Inc said it will buy privately held Safety-Kleen Inc, a re-refiner and recycler of used oil in North America, for $1.25 billion in an all-cash deal.

  • *Shionogi takes 10 pct stake in GSK, Pfizer joint venture. *Reduces upfront costs for Japan's Shionogi. LONDON/ TOKYO, Oct 29- GlaxoSmithKline has raised its bet on a promising drug for HIV/AIDS by redrawing a deal with Japan's Shionogi which gives it a much bigger economic interest in the new product.

  • LONDON, Oct 29- Global consumer confidence edged higher in the third quarter, underpinned by an improvement in the United States, although uncertainty about the economy continued to cap spending, a survey showed. Sixty two percent of global consumers said they believed their national economies were in recession, up from 57 percent in the previous quarter, according to the survey by global information company Nielsen, released on Monday.

  • UPDATE 1-Cemex launches Colombia IPO of Latam unit Monday, 29 Oct 2012 | 10:51 AM ET

    BOGOTA, Oct 29- Mexico's top cement maker Cemex officially launched on Monday the Colombian initial public offering of its Latin American unit, with books open from Oct. 29 to Nov. 6, the company said. Cemex has set a range of between 11,000 and 13,500 Colombian pesos per share for the offering of about 24 percent of its Cemex Latam Holdings unit.

  • NEW DELHI/ MUMBAI, Oct 29- India's new oil minister has promised to speed decision making in an effort to attract foreign investment, and will push domestic oil companies to aggressively bid for foreign oil and gas assets to meet growing energy demand.

  • *Brent oil falls below $109/ bbl, East Coast refineries wind down. Activity across all markets was expected to be thin as the Category 1 Hurricane Sandy neared landfall along the mid-Atlantic states of the United States, forcing shops, offices and share markets in New York to close.

  • MUMBAI, Oct 29- India- focused Essar Energy plans to refinance up to $1.5 billion of its rupee debt within a couple of quarters, as it focuses on improving its balance sheet after a turbulent period that included heavy capital expenditure and regulatory setbacks.

  • UPDATE 2-Pearson confirms Random Penguin merger Monday, 29 Oct 2012 | 10:05 AM ET

    LONDON, 29- Pearson said it would merge Penguin Books with Bertelsmann's Random House to create the world's leading consumer publisher, a day after Rupert Murdoch's Sunday Times said his News Corp group could bid for Penguin.

  • Yuan touches new high but upward pressure cools Monday, 29 Oct 2012 | 10:00 AM ET

    *Yuan hits record strong point before weakening. SHANGHAI, Oct 29- The yuan hit another record high on Monday, but then slipped back as traders said pressure on the Chinese currency eased from levels seen late last week. ``Everyone has cooled off a little,'' said a trader at a commercial bank in Shanghai after the morning session during which the new high was hit.

  • Reuters World News Highlights at 1000 GMT, Oct 29 Monday, 29 Oct 2012 | 10:00 AM ET

    WASHINGTON- With one week left in the tight battle for the White House, it's all about the vital swing state of Ohio. Unless it's about Colorado- or Iowa, or tiny New Hampshire.

  • Oct 29- Can peer pressure make delinquent taxpayers pony up what they owe the government? Behavioral economists say it can, and some tax agencies in both the United States and Britain are taking their advice to heart-- and finding that they are reaping rewards.

  • Reuters Business News Schedule at 0930 GMT Monday, 29 Oct 2012 | 9:51 AM ET

    The Reuters business schedule runs at the following times: 0230,0630 GMT- Mathew Veedon +65 6870-3827 0830,1230 GMT- Malcolm Davidson +44 20 7542 6958 1530,1930 GMT- Franklin Paul, Chris Kaufman +1 646 223 6200.

  • Earnings worries hit European shares Monday, 29 Oct 2012 | 9:44 AM ET

    *Traders cite worries over corporate results, Spain. Spain's IBEX stock market outperformed the broader market, dipping 0.2 percent after European Central Bank policymaker Ewald Nowotny said the country had no immediate need of help from the bank's planned new bond-buying programme.