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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • LONDON, Nov 2- Robusta coffee futures on Liffe eased on Friday but prices held above a six-month low set earlier this week as the focus remained on Vietnam's crop which is expected to be large but slightly below last season. January robusta coffee futures fell $5 or 0.3 percent to $1,979 a tonne at 1510 GMT.

  • *Soy, corn lower after INTL FCStone ups US crop estimates. At the CBOT as of 9:45 a.m. CDT, December corn was down 11-1/ 4 cents, or 1.5 percent, at $7.39- 3/ 4 per bushel, dropping below its 100- day moving average at $7.45- 1/ 2. The contract has not settled below the average since June.

  • LONDON, Nov 2- Overseas investors, many of whom are creditors to the highly-indebted U.S. government, reckon a re-election of President Barack Obama would be best for world markets even if U.S. counterparts say otherwise.

  • *North Sea supply expected to return, Angolan force majeure. LONDON, Nov 2- Brent oil headed for its lowest close in three months on Friday, down for a fifth day, as firm U.S. jobs data helped push the dollar higher but failed to ease fears about the outlook for global demand.

  • WASHINGTON, Nov 2- The U.S. Department of Homeland Security on Friday issued a temporary, blanket waiver of the Jones Act to allow foreign-flagged oil tankers from the Gulf of Mexico to help supply the Northeast with fuel, after Hurricane Sandy shut two refineries in the region.

  • It has restored power to Phillips 66' s 238,000 barrel per day Bayway refinery in New Jersey and a Buckeye Partners LP pipeline, it said during a conference call.

  • UPDATE 3-Apple rolls out iPad mini to shorter lines Friday, 2 Nov 2012 | 2:51 PM ET

    SYDNEY/ NEW YORK, Nov 2- The launch of Apple Inc's iPad mini attracted smaller crowds from Sydney to New York on Friday than have been typical for previous Apple product debuts, events marked by people lining up for hours or even days.

  • BUSINESS-NEWS-SCHEDULE AT 1430 GMT / 10.30 AM ET Friday, 2 Nov 2012 | 2:49 PM ET

    WASHINGTON- U.S. employers stepped up hiring in October and the jobless rate ticked higher as more workers restarted job hunts, a hopeful sign for a lacklustre economy that has been a drag on President Barack Obama's re-election chances. ( USA- ECONOMY/JOBS, moving shortly, by Jason Lange, 830 words).

  • PARIS, Nov 2- Alcatel-Lucent is considering selling its submarine cable business and a unit that supplies telephone systems to big companies as part of its effort to shore up its balance sheet, according to sources familiar with the matter.

  • OTTAWA, Nov 2- Canada's job market stalled in October after two months of strong hiring, Statistics Canada data showed on Friday, confirming expectations employment gains would ease to reflect sluggish economic growth. The underlying details are still fairly positive,'' said David Tulk, chief Canada macro strategist at TD Securities.

  • *Wall Street, crude oil retreat after strong payrolls report. Wall Street opened higher but faltered near break-even and Brent crude retreated after the Commerce Department reported new orders for manufactured goods climbed 4.8 percent, a sharp gain driven by volatile aircraft orders.

  • UPDATE 2-Penske profit beats but stock falls Friday, 2 Nov 2012 | 2:40 PM ET

    Nov 2- Penske Automotive Group Inc, the No. 2 U.S. car dealership group, posted a stronger-than-expected quarterly profit on Friday, but shares fell more than 2 percent as gross margins and vehicle pricing disappointed.

  • WASHINGTON, Nov 2- U.S. employers stepped up hiring in October and the jobless rate ticked higher as more workers restarted job hunts, a hopeful sign for a lackluster economy that has been a drag on President Barack Obama's re-election chances. Employers added 171,000 people to their payrolls last month, the Labor Department said on Friday.

  • The upscale furniture retailer, backed by private equity firms Catterton Partners and Tower Three Partners LLC, opened New York Stock Exchange trading at $32.05 after pricing at the high end of the expected range at $24.

  • Nov 2- More than 3.7 million homes and businesses along the U.S. East Coast remained without power on Friday after Hurricane Sandy battered the region. Sandy made landfall in New Jersey on Monday night. Power companies have reported a peak of nearly 8.48 million customers without power, according to a U.S. Department of Energy report.

  • NEW YORK, Nov 2- U.S. stocks cut their gains to turn negative on Friday despite a stronger-than-expected payroll report. Still, the S&P remained on track for its best week of the past four. The Nasdaq Composite Index was down 8.43 points, or 0.28 percent, at 3,011.63.

  • THE RACE: Both Obama, Romney cite new jobs data Friday, 2 Nov 2012 | 2:24 PM ET

    For President Barack Obama, the final government jobs report before Election Day could have been worse. The Bureau of Labor Statistics announced solid job growth of 171,000 workers in October and said hiring was stronger in August and September than first reported.

  • Feds add 2 NJ counties to disaster jobless list Friday, 2 Nov 2012 | 2:22 PM ET

    TRENTON, N.J.-- Federal officials have added Bergen and Somerset counties to the list of New Jersey counties where residents left jobless because of Sandy are eligible for unemployment benefits. The disaster unemployment assistance program is offered to people who otherwise may not be eligible for regular unemployment insurance.

  • Nov 2- Hyundai Motor Co and its affiliate Kia Motors Corp overstated the gasoline mileage for more than 1 million 2011-2013 model year cars in the United States and Canada, and will offer debit cards to customers to make up the difference.

  • JAKARTA/ LONDON, Nov 2- Financier Nat Rothschild is in talks with Indonesian investors, including a contender for the country's presidency, on a plan to counter a $1.4 billion proposal by the influential Bakrie family to dismantle coal mining group Bumi Plc, sources said.