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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • NASSAU, Oct 26- Slow-moving Hurricane Sandy, a late season Atlantic storm unlike anything seen in more than two decades, slogged toward the U.S. East Coast on Friday after killing at least 31 people on a trail of destruction across the Caribbean.

  • Pa. utility agency slapped by judge, admits error Friday, 26 Oct 2012 | 4:03 PM ET

    HARRISBURG, Pa.-- The Pennsylvania Public Utility Commission was ordered Friday by a state judge to stop reviewing or challenging municipal ordinances that affect natural gas drilling, the same day the agency admitted to miscalculating how much money some municipalities will receive from the booming drilling industry.

  • Ingram Micro 3Q net income more than doubles Friday, 26 Oct 2012 | 4:00 PM ET

    SANTA ANA, Calif.-- A Stern Agee analyst reaffirmed his "Buy" rating on Ingram Micro on Friday, a day after the technology products company reported that its net income more than doubled in the third quarter as sales increased in North America, Latin America and the Asia Pacific region.

  • Oct 25- Verisign Inc's third-quarter results modestly beat estimates, but the company that assigns Internet protocol addresses said the Commerce Department may not complete its contract review before it expires on Nov. 30, sending its shares down 15 percent after market.

  • Oct 26- Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, missed revenue estimates for the second quarter in a row, with the company warning that growth will slow further this year as clients hold back on spending. Interpublic shares fell 5 percent in late morning trade to $10.04 on the New York Stock Exchange.

  • At a Glance: Oil rises, stays above $86 per barrel Friday, 26 Oct 2012 | 3:55 PM ET

    NEW YORK-- The price of oil rose slightly Friday as data showed the U.S. economy is muddling along while the East Coast prepares for a potentially damaging storm. On the New York Mercantile Exchange:. Benchmark crude rose 23 cents to finish at $86.28 per barrel.

  • Recalls this week: bassinets, booster seats Friday, 26 Oct 2012 | 3:54 PM ET

    Bassinets that pose a suffocation hazard to infants because of a faulty locking mechanism and booster seats that can fail to lock are among the consumer products recalled this week. DETAILS: Eddie Bauer Rocking Wood Bassinets made by Dorel Juvenile Group. " They were sold from December 2007 through January 2011.

  • Interpublic 3Q results miss expectations Friday, 26 Oct 2012 | 3:51 PM ET

    NEW YORK-- Interpublic Group of Cos., which owns advertising and marketing agencies, said Friday that its third-quarter net income fell 67 percent, hurt by the stronger dollar and lower spending by clients. The weak economy in Europe and slowdown in China have led a wide array of companies to cut spending on services such as marketing and advertising.

  • Conn. utilities seek extra workers ahead of storm Friday, 26 Oct 2012 | 3:50 PM ET

    HARTFORD, Conn.-- With forecasts of a powerful storm ahead, Connecticut's governor urged people to stock up on food and water, electric utilities requested thousands of extra workers and the Navy base in Groton prepared Friday in case it has to send submarines out into the ocean.

  • Grains futures mostly fall, livestock prices mixed Friday, 26 Oct 2012 | 3:50 PM ET
  • Sandy pounds Bahamas after killing 40 in Caribbean Friday, 26 Oct 2012 | 3:50 PM ET

    NASSAU, Bahamas-- Hurricane Sandy rolled out of the Bahamas on Friday after causing 40 deaths across the Caribbean, churning toward the U.S. East Coast, where it threatens to join forces with winter weather fronts to create a devastating super storm.

  • UPDATE 1-FDA approves Teva leukemia drug Friday, 26 Oct 2012 | 3:49 PM ET

    Oct 26- The U.S. Food and Drug Administration on Friday said it has approved a new leukemia treatment from Teva Pharmaceutical Industries Ltd to be sold under the brand name Synribo.

  • NEW YORK, Oct 26- A U.S. appeals court said Argentina improperly discriminated against bondholders who refused to take part in massive debt restructurings in 2005 and 2010 by deciding to pay them later than bondholders who agreed to participate.

  • Oil rises as massive storm aims for East Coast Friday, 26 Oct 2012 | 3:43 PM ET

    The price of oil rose slightly Friday as data showed the U.S. economy is muddling along and the East Coast prepares for a potentially damaging storm. Benchmark oil rose 23 cents to end at $86.28 per barrel Friday.

  • Dean Foods shares fall on WhiteWave spinoff Friday, 26 Oct 2012 | 3:43 PM ET

    NEW YORK-- Shares of Dean Foods fell Friday after the company completed the spinoff of its organic dairy company. THE SPARK: Shares of WhiteWave Foods started trading Friday morning on the New York Stock Exchange after its initial public offering of shares priced at $17 per share.

  • Silvio Berlusconi convicted in Italy of tax fraud Friday, 26 Oct 2012 | 3:43 PM ET

    MILAN-- Just two days after announcing he won't run in spring elections, former Italian Premier Silvio Berlusconi was convicted of tax fraud and sentenced to four years in prison Friday in a verdict that could see him barred from public office for five years.

  • *Profitable in Europe despite lower industry sales. Oct 26- Auto parts maker Lear Corp beat Wall Street third-quarter profit and sales expectations on Friday as North American sales were strong and operations in Europe were profitable despite a plunge in auto production there.

  • European shares eke out small gains after U.S. GDP Friday, 26 Oct 2012 | 3:41 PM ET

    LONDON, Oct 26- European shares eked out small gains on Friday after better-than-expected U.S. economic growth figures helped outweigh the impact on investor sentiment of yet more gloomy corporate outlooks. Ericsson, Renault, Saint Gobain and Publicis among those reporting weak numbers or cutting outlooks in Europe.

  • WASHINGTON, Oct 26- U.S. economic growth picked up in the third quarter as a late burst in consumer spending and a surprise turnaround in government outlays offset the first cutback in business investment in more than a year.

  • Commodities prices continue a weeklong slide Friday, 26 Oct 2012 | 3:37 PM ET

    Stocks were weak for most of the day following poor results from Goodyear Tire, Interpublic and other companies. December silver fell 4.20 cents to $32.036 an ounce and December palladium fell $9.10 to $595.40 an ounce. In energy trading, benchmark oil rose 23 cents to end at $86.28 per barrel in New York.