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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • 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.

  • 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.

  • 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.

  • *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.

  • *Improving crop weather in South America weighs. CHICAGO, Oct 26- U.S. soybeans slipped for a second straight day on Friday on signs of waning U.S. exports and improving crop weather prospects in South America that could lead to bumper output in Brazil and Argentina.

  • Former US Sen. Mitchell won't mediate Calif. talks Friday, 26 Oct 2012 | 3:35 PM ET

    George Mitchell is stepping down from overseeing private settlement talks over the deadly San Bruno pipeline explosion. The California Public Utilities Commission appointed the former Senate Majority Leader earlier this month to mediate a settlement regarding whether Pacific Gas& Electric Co. should be fined for the blast.

  • RIO DE JANEIRO, Oct 26- Brazilian state-led oil company Petrobras looks set to report a higher quarterly profit later on Friday after the government allowed price increases for wholesale gasoline and diesel for the first time in six years.

  • Mylan at long-time high on outlook, deal talk Friday, 26 Oct 2012 | 3:30 PM ET

    NEW YORK-- Shares of Mylan Inc. rose to their highest price in almost nine years on Friday after the drugmaker reported higher sales of its EpiPen allergy injection and raised its 2012 guidance. The company said it now expects to earn between $2.50 and $2.60 per share in 2012, about 15 cents per share more than it had expected.

  • News Summary: Toyota widens sales lead over GM Friday, 26 Oct 2012 | 3:29 PM ET

    TOYOTA LEADS: Toyota Motor Corp. has widened its global sales lead over General Motors after bouncing back from a series of natural disasters. THE NUMBERS: Toyota said Friday it sold 7.4 million vehicles globally during the first nine months of the year.

  • NJ utility: Expect outages lasting 7 to 10 days Friday, 26 Oct 2012 | 3:28 PM ET

    TRENTON, N.J.-- One of the New Jersey's largest utility companies says residents should expect power outages of a week or more once the effects of Hurricane Sandy hit the state. A spokesman for Jersey Central Power and Light told a news conference Friday that people should take precautions now but prepare for the worst.

  • SC tax returns exposed by computer hacker Friday, 26 Oct 2012 | 3:27 PM ET

    COLUMBIA, S.C.-- State officials say someone hacked into the Department of Revenue, exposing about 3.6 million South Carolina tax returns. Nikki Haley said Friday about 387,000 credit and debit card numbers were also exposed, and 16,000 of those were unencrypted.

  • Massachusetts officials prepare for powerful storm Friday, 26 Oct 2012 | 3:26 PM ET

    BOSTON-- Massachusetts officials braced Friday for the arrival of a mega-storm that Gov. Forecasts that show Sandy veering inland and merging with another storm front in the mid-Atlantic could lower the potential for catastrophic damage in Massachusetts, but Patrick still warned of a 4- to 6- foot coastal storm surge and 30-35 foot seas offshore.

  • NY man who sued Facebook faces criminal charges Friday, 26 Oct 2012 | 3:21 PM ET

    Oct 26- A New York businessman faces criminal charges of trying to defraud Facebook Inc and its chief executive, Mark Zuckerberg, by claiming that he was promised a share in the social-media company, federal prosecutors said.

  • LONDON, Oct 26- China's imports of iron ore have risen for the past two months, but those of coking coal have dropped for the past three, creating a seeming disconnect between the two key ingredients for steel making.

  • FDA approves Teva leukemia drug Friday, 26 Oct 2012 | 3:18 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.

  • Oct 26- Specialty truckmaker Oshkosh Corp reported a higher quarterly profit on Friday, though a decline in its defense business weighed on revenue, and rejected a takeover offer from activist shareholder Carl Icahn.