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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • News Summary: UK recession over, economy grows 3Q Thursday, 25 Oct 2012 | 2:40 PM ET

    RECESSION OVER: Britain's economy emerged from its nine-month recession in the July- September quarter, when spending on the Olympics helped it grow 1 percent. BETTER THAN EXPECTED: Economists predicted growth of 0.6 percent for the period.

  • Ford exec - state aid to carmakers not sustainable Thursday, 25 Oct 2012 | 2:39 PM ET

    DETROIT, Oct 25- Ford Motor Co's head of Europe said on Thursday that state aid to struggling carmakers would be untenable in the future, particularly during the deep economic downturn in Europe.

  • Insurance co. drops Neb. man because of police dog Thursday, 25 Oct 2012 | 2:39 PM ET

    OMAHA, Neb.-- A Nebraska sheriff's deputy is being dropped by his home insurance company, who says the police dog he keeps at his Omaha home is a risk it is not willing to bear.

  • Auto dealer stocks fall on earnings reports Thursday, 25 Oct 2012 | 2:38 PM ET

    Shares of AutoNation Inc. and Group 1 Automotive Inc. fell sharply Thursday, even as the companies' results met the forecasts of analysts surveyed by FactSet. AutoNation shares dropped $2.11, or 4.4 percent, to $45.93 in afternoon trading. AutoNation's profit of 66 cents per share matched Wall Street estimates, as did Group 1' s bottom line of $1.32 per share.

  • Voodoo adds tent camping to festival experience Thursday, 25 Oct 2012 | 2:33 PM ET

    NEW ORLEANS-- The Voodoo Music+ Arts Experience is bringing a European music festival experience to New Orleans with overnight tent camping and more Euro-dance-based acts to its stage.

  • *Expects more Windows device sales than Apple, Google products this qtr. 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.

  • DETROIT, Oct 25- Ford Motor Co expects to lose a combined $3 billion in Europe in 2012 and 2013, executives said during a conference call on Thursday, adding that European car sales may only rise to 15 million annually by mid-decade.

  • News Summary: United Continental 3Q earnings Thursday, 25 Oct 2012 | 2:30 PM ET

    United says it is running a reliable operation now, and that its problems are behind it. And much of the profit drop-off was because of an accounting charge. FEWER SEATS, MORE DOUGH: United Continental Holdings Inc. will reduce flying 1 percent next year as it tries to minimize the number of empty seats, so it can charge more for the seats that remain.

  • SEC sues former J.Crew executive for insider trading Thursday, 25 Oct 2012 | 2:29 PM ET

    LoBue again used sales and expense information to purchase 11,680 shares ahead of J.Crew' s August 2009 earnings announcement, the SEC said. Through the trades, LoBue received around $60,000 in illicit profits, the SEC said. The SEC said LoBue's employment at J.Crew was terminated in February 2010.

  • News Summary: Sanofi profit slumps in 3rd quarter Thursday, 25 Oct 2012 | 2:29 PM ET

    SHRINKING PROFIT: Sanofi saw its earnings slump in the third quarter as generic competitors ate into profits of its Eloxatin cancer treatment. DETAILS: Sanofi earned 1.6 billion for the July-September quarter, down 20 percent from 2 billion a year earlier.

  • News Summary: Strikes dent Hyundai 3Q profit Thursday, 25 Oct 2012 | 2:28 PM ET

    WINDING ROAD: Hyundai's took a hit to its third-quarter profit after strikes in South Korea limited vehicle production, but its stock jumped after the carmaker said annual output would exceed forecasts.

  • *Grain inventories at major exporters seen at 17- year low. LONDON, Oct 25- The International Grains Council on Thursday cut its forecast for global maize and wheat crops in 2012/ 13, further tightening supplies with grain stocks at the end of the season seen sinking to a five-year low.

  • Chief Financial Officer Clay Williams characterized it as North America playing defense, while the rest of the world played offense. He said the company was building out facilities in Brazil, while selling more well stimulation equipment into the Middle East, China and Russia.

  • `` Spain is my favourite because we've got all sorts of hedges,'' said Elke Speidel-Walz, chief investment strategist for Germany at Deutsche Bank Private Wealth Management. ``This means the risk return is best in Spain.''.

  • Jarden shares fall as revenue, profit slip Thursday, 25 Oct 2012 | 2:26 PM ET

    RYE, N.Y.-- Jarden Corp., the company behind a smorgasbord of household products like Mr. On a per-share basis, earnings were $1 per share, down from $1.03, Jarden said late Wednesday.

  • *Mead Johnson shares sink after 3Q profit slips Thursday, 25 Oct 2012 | 2:25 PM ET
  • *3rd- quarter EPS $1.91 excluding items vs Street view $1.60. Excluding one-time items, the company earned $1.91 per share, topping analysts' average expectations by 31 cents, according to Thomson Reuters I/B/E/S.

  • NY Times publisher backs new CEO amid BBC scandal Thursday, 25 Oct 2012 | 2:24 PM ET

    NEW YORK-- New York Times chairman and publisher Arthur Sulzberger Jr. on Thursday reiterated the company's support for its incoming chief executive, who has been under scrutiny in England over the BBC's decision to cancel a news story about one of its hosts being accused of sexually abusing children.

  • KIEV, Oct 25- Ukrainians rushed to buy dollars on Thursday, driving the hryvnia currency to a seven-week low on speculation that officials will allow a sharp depreciation after elections on Sunday. Later on Thursday, Ukraine's central bank offered to sell dollars at 8.05 hryvnias per dollar.

  • FOREX-Yen slides broadly on BOJ easing bets, euro flat Thursday, 25 Oct 2012 | 2:23 PM ET

    NEW YORK, Oct 25- The dollar rallied to a four-month high against the yen on Thursday as a n array of U.S. data and ex pectations the Bank of Japan will ease monetary policy next week fav ored the greenback.