CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Proxy firms support Eaton acquisition of Cooper

    CLEVELAND-- Diversified manufacturer Eaton Corp. said Tuesday that three major independent proxy advisory firms have recommended that Eaton shareholders vote in favor of the company's pending acquisition of Cooper Industries plc.

  • HARRISBURG, Pa.-- A bill to revamp employment rules for children, particularly those working in entertainment, is on its way to the desk of Pennsylvania Gov. The House voted unanimously Tuesday in favor of the measure, which in many ways is patterned after California's law and brings Pennsylvania closer in line with federal rules.

  • On the Call: UnitedHealth CEO Stephen J. Hemsley

    UnitedHealth Group Inc. and other health insurers have been preparing for the health care overhaul for a few years now, but the massive law's future is clouded by next month's presidential elections.

  • On the Call: Johnson & Johnson CFO Dominic Caruso

    During a conference call with analysts Tuesday on Johnson& Johnson's third-quarter results, Chief Financial Officer Dominic Caruso discussed some recent divestitures and the possibility of further pruning the health care giant's extensive portfolio of prescription and nonprescription drugs, toiletries and medical devices and diagnostic equipment.

  • Oil price ends higher amid mixed economic data

    The Labor Department said the consumer price index rose 0.6 percent last month, the same as in August, with inflation still in check. Benchmark U.S. crude ended up 24 cents at $92.09 a barrel in New York. Brent crude, which is used to price international varieties of oil, lost 40 cents to finish at $114 a barrel in London.

  • Outlook roundup: AmeriGas, Diebold

    Among the earnings projection stories for Tuesday, Oct. 16, from AP Business News:. _ Propane company AmeriGas Partners LP predicted net income for its current fiscal year that is above Wall Street expectations, if this winter has "normal" weather.

  • Bio Box: Michael Corbat, the new CEO of Citigroup

    CAREER: Corbat held several roles at Salomon Brothers, a company that eventually combined with Citi. He also ran Citi Holdings, a portfolio of businesses and assets that Citi sold to raise cash and simplify its corporate structure following the financial crisis.

  • WASHINGTON-- A federal appeals court in Washington is considering whether marijuana should be reclassified from its current status as a dangerous drug with no accepted medical use.

  • Picasso, Monets stolen in Dutch heist

    AMSTERDAM-- Thieves broke into a Rotterdam museum on Tuesday and walked off with works from the likes of Picasso, Monet, Gauguin and Matisse potentially worth hundreds of millions. "Those thieves got one hell of a haul," said Chris Marinello, who directs the Art Loss Register.

  • $110M in fed funds announced for TF Green

    WARWICK, R.I.-- Rhode Island officials have announced $110 million in federal funds to pay for a runway extension project at T.F. Green Airport in Warwick. Lincoln Chafee, Warwick Mayor Scott Avedisian, and the interim head of the Rhode Island Airport Corporation, Peter Frazier, discussed the plan Tuesday afternoon at a news conference at the airport.

  • News Summary: Tourism thrives in Georgia

    CITY OF LOVE: The transformation of Batumi, an ancient city of 180,000 near the Turkish border, is a vivid example of Georgia's drive to capitalize on its tourism potential, boosting the economy of an ex-Soviet nation where roughly one person in five lives in poverty.

  • Target to match some rivals' online prices

    NEW YORK-- In the latest effort to beat at its game, Target says that for the first time it will match prices that customers find on identical products at select online competitors this holiday season.

  • News Summary: J&J 3Q net income down, sales up

    PROFIT DROP: Third-quarter net income dropped 7 percent for health care giant Johnson& Johnson, to $2.97 billion, or $1.05 per share, but after adjusting for one-time charges, it beat Wall Street expectations. SALES CLIMB: Revenue rose 6.5 percent to $17.05 billion.

  • Judges wants to see NFL bounty documents

    NEW ORLEANS-- A federal magistrate judge has ordered NFL Commissioner Roger Goodell to provide the court with documents related to the league's bounty investigation of the New Orleans Saints. NFL spokesman Greg Aiello said league officials have already discussed the order with Knowles and have agreed to comply.

  • Indianapolis symphony, musicians reach new deal

    INDIANAPOLIS-- The Indianapolis Symphony Orchestra and its musicians agreed a new contract Tuesday to end a weekslong lockout and clear the way for the resumption of concerts.

  • *Chelsea Clinton visits Nigeria on health mission
  • HAMILTON, Bermuda-- Hurricane Rafael is expected to unleash heavy winds and rain as it passes east of Bermuda late Tuesday en route to open sea, where it is expected to lose strength. It was located 225 miles south of Bermuda late Tuesday morning, moving north-northeast at 24 mph.

  • News Summary: Foxconn finds underage workers

    YOUNG AT WORK: Electronics manufacturer Foxconn said it found underage interns as young as 14 working at one of its factories in China. China's minimum legal working age is 16.. THE COMPANY: Foxconn, owned by Taiwan's Hon Hai, is best known as the manufacturer of Apple's iPhone but said the factory in question had no connection with its work for Apple.

  • Greek junior gov't partner rejects labor reforms

    Parliament must approve the measures within the next few weeks so that Greece can keep receiving bailout money it desperately needs to stay solvent.

  • News Summary: Sprint suitor Son stands apart

    THE DEAL: In Softbank Corp. President Masayoshi Son's latest mega-deal, the Japanese company is taking 70 percent stake in Sprint Nextel Corp. for $20 billion. THE DEAL-MAKER: The biggest foreign acquisition in the history of Japan Inc. underlines Son's unusual status in a corporate culture that has long favored stability over risk-taking.