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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Rising fashion star Roberts talks shopping, style Thursday, 25 Oct 2012 | 1:52 PM ET

    NEW YORK-- Emma Roberts isn't just making a name for herself as a rising star in Hollywood _ she has four films in the works _ she's also leaving her mark in the world of fashion. The 21- year-old routinely gets name-checked in magazines for her style on the red carpet and off, and she's a coveted front-row guest at fashion shows.

  • *Lazard will meet 25 percent margin target by 2014- CEO. Oct 25- Lazard Ltd plans to cut $125 million in costs each year, mainly through staff reductions, the investment bank said on Thursday, as it works to meet an aggressive profit goal in a weak market for its financial advisory services.

  • RI amnesty program collects $7.4M in back taxes Thursday, 25 Oct 2012 | 1:51 PM ET

    PROVIDENCE, R.I.-- Rhode Island's tax amnesty program has generated nearly $7.4 million in payments from people behind on their taxes. The state Division of Taxation said Thursday that it has received 2,792 applications since the amnesty period began Sept. 2.

  • Idaho wind developer's woes mount with lawsuit Thursday, 25 Oct 2012 | 1:50 PM ET

    BOISE, Idaho-- Legal challenges facing an Idaho wind energy company are mounting, after a contractor building one of its projects in Minnesota went to court asking a judge to hand over control.

  • Statue of Liberty reopens on 126th birthday Sunday Thursday, 25 Oct 2012 | 1:50 PM ET

    NEW YORK-- The Statue of Liberty is set to reopen to the public on Sunday, the U.S. landmark's 126th anniversary. The statue has been closed since last October for renovation to its interior, although the public has been allowed to visit its Liberty Island grounds in New York Harbor. The statue, a gift from France, was dedicated on Oct. 28, 1886.

  • MADRID, Oct 25- Santander, Spain's biggest bank, urged the government to seek an international bailout to reduce borrowing costs for struggling lenders, as writedowns on bad property investments almost wiped out its third-quarter profit.

  • *Raises 2012 EPS outlook to $2.50- $2.60 per share. Oct 25- Rising generic drug sales in North America helped push up Mylan Inc's quarterly profit by 35 percent and the drugmaker raised its earnings forecast for 2012, even as it steps up spending on its own drug research.

  • NH resort won't be open for 1st voting this year Thursday, 25 Oct 2012 | 1:49 PM ET

    DIXVILLE NOTCH, N.H.-- Voters in tiny Dixville, N.H., have cast some of the nation's first ballots for president at the historic Balsams Grand Resort Hotel for more than 50 years.

  • Hot summer helps power CMS Energy's 3Q earnings Thursday, 25 Oct 2012 | 1:49 PM ET

    JACKSON, Mich.-- CMS Energy posted a 6 percent rise in net income for the third quarter, as sweltering heat boosted the use of air condition and economic activity in Michigan heated up as well. The Jackson, Mich., electric and gas company reported net income of $148 million in the quarter, or 55 cents per share.

  • INTERVIEW-Windows 8 recasts PC industry-CEO Ballmer Thursday, 25 Oct 2012 | 1:49 PM ET

    Microsoft is doubling down on its bet with its own tablet called the Surface, available only through its own stores and website, which will challenge Apple's iPad head on.

  • United Airlines troubles mostly wipe out 3Q profit Thursday, 25 Oct 2012 | 1:47 PM ET

    It was a rough third quarter for United Airlines. "We recognize that some of our customers chose to fly other airlines during the summer, when our operational performance degraded," CEO Jeff Smisek said on a conference call. Net income for United Continental Holdings Inc. dropped to $6 million, or 2 cents per share, from $653 million, or $1.69 per share, a year earlier.

  • UPDATE 1-Occidental profit tops estimates, shares rise Thursday, 25 Oct 2012 | 1:45 PM ET

    Oct 25- Occidental Petroleum Corp reported a higher-than-expected quarterly profit on Thursday as growing output helped make up for lower oil and gas prices, and its shares rose 2 percent. The fourth-largest U.S. oil company said net profit fell to $1.38 billion, or $1.69 per share, from $1.77 billion, or $2.17 per share, a year earlier.

  • Accused UBS fraudster's evidence at trial delayed Thursday, 25 Oct 2012 | 1:45 PM ET

    LONDON, Oct 25- Accused UBS fraudster Kweku Adoboli will not start giving evidence on Thursday as expected because last-minute legal arguments arose at his trial in London. Adoboli had been expected to enter the witness box but the jury were sent away at lunchtime after the judge and lawyers agreed that they needed the rest of the day to have legal arguments.

  • Mylan 3Q profit jumps; drugmaker raises forecast Thursday, 25 Oct 2012 | 1:44 PM ET

    PITTSBURGH-- Mylan Inc., a maker of generic and specialty prescription drugs, on Thursday posted a 35 percent increase in net income in the third quarter, mainly due to a big jump in sales. The Pittsburgh- based company raised its 2012 profit forecast, to a range of $2.50 to $2.60 per share, after having increased the forecast in May from its earlier $2.30 to $2.50 range.

  • Oct 25- The New York Times Co reported worse-than-expected results on Thursday as advertisers pulled back spending on both print and digital outlets. Adjusting for severance costs and other special items, the company reported a quarterly loss of 1 cent per share, well below expectations of earnings of 8 cents per share.

  • NEW YORK, Oct 25- U.S. benchmark yields touched a five-week high on Thursday ahead of the sale of seven-year notes and after the Federal Reserve on Wednesday stuck to its monetary policy, prompting some Treasury investors to book profits.

  • CHICAGO, Oct 25- The decline in trading on CME Group Inc's futures exchanges this year is more the result of a sluggish economy and uncertainty over tax policy rather than regulatory changes affecting the futures industry, CME's executive chairman said on Thursday.

  • IMF says ESM recap of Irish banks 'critical' Thursday, 25 Oct 2012 | 1:39 PM ET

    DUBLIN, Oct 25- Europe must follow through on its pledge to ease Ireland's debt burden through direct recapilisation of its banks, or it risks leaving the country dependent on official financing, the International Monetary Fund said on Thursday.

  • GrafTech 3Q profit falls but beats expectations Thursday, 25 Oct 2012 | 1:39 PM ET

    PARMA, Ohio-- GrafTech International Ltd. said Thursday that third-quarter profit and revenue fell. GrafTech sells products used in steelmaking and other industries.

  • UPDATE 2-Brazil job market remains strong in September Thursday, 25 Oct 2012 | 1:39 PM ET

    SAO PAULO, Oct 25- Brazil's unemployment rate rose slightly in September despite a pick up in hiring as more people started looking for jobs, government data showed on Thursday. Brazil's jobless rate edged up to 5.4 percent, statistics agency IBGE said, from 5.3 percent in August.