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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Sunoco to pay $117,000 to settle hazmat complaint Thursday, 25 Oct 2012 | 3:51 PM ET

    PHILADELPHIA-- The U.S. Environmental Protection Agency said Sunoco Inc. is paying a $117,000 fine to settle alleged violations of hazardous waste storage regulations at one of its former plants in northeast Philadelphia. The EPA said it cited Sunoco for violating a federal law governing the storage and disposal of hazardous waste.

  • Correction: US Oil Boom story Thursday, 25 Oct 2012 | 3:49 PM ET

    NEW YORK-- In a story Oct. 23 about the boom in U.S. oil production, The Associated Press misidentified the year and amount of peak U.S. oil output. US could soon overtake Saudi Arabia as world's biggest oil producer; output is booming. NEW YORK _ U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.

  • Buffett's firm wins auction for ResCap's loans Thursday, 25 Oct 2012 | 3:47 PM ET

    OMAHA, Neb.-- Warren Buffett's company won the auction for Residential Capital's loan portfolio with a $1.5 billion bid this week. That means the conglomerate Berkshire Hathaway Inc. will acquire the loans as long as a bankruptcy judge approves. ResCap's parent company is Ally Financial, which is 74 percent owned by the U.S. government as a result of bailouts.

  • Oct 25- Two big asset managers reported quarterly revenue declines on Thursday as investors moved into lower-fee fixed-income funds. Janus Capital Group said its third-quarter revenue had fallen 12 percent to $209 million, mostly because it had added more performance fees for its mutual funds.

  • TORONTO, Oct 25- Goldcorp Inc, the No. 2 Canadian gold miner, reported a 48 percent increase in quarterly profit on Thursday, as improved performance at its Red Lake and Penasquito mines led to strong gold and silver sales.

  • FTC, paint cos in settlement over organic claims Thursday, 25 Oct 2012 | 3:46 PM ET

    The Sherwin-Williams Co. and PPG Architectural Finishes Inc. agreed to settlements requiring them to stop claiming that certain kinds of their interior paints contain "zero" volatile organic compounds, the FTC said.

  • RIO DE JANEIRO, Oct 25- Brazilian mining company Vale SA plans to sell underperforming assets in a push to control costs and boost profits, executives said on Thursday, a day after reporting weak earnings and a halt to work on a giant iron ore mine in Guinea, West Africa.

  • NEW YORK, Oct 25- U.S. stocks erased early morning gains and turned negative, weighed down by declines in the materials and telecom sectors. The Dow Jones industrial average dropped 21.92 points, or 0.17 percent, to 13,055.42. The Nasdaq Composite Index shed 2.31 points, or 0.08 percent, to 2,979.38.

  • *National Union of Mineworkers accepts gold industry offer. JOHANNESBURG, Oct 25- South Africa's gold mines agreed a wage deal with unions on Thursday as the bulk of the gold sector's striking miners returned to work under threat of dismissal.

  • *Dominion to shut Kewaunee reactor in Wisconsin next year. On the company's third-quarter earnings call, Dominion said the three plants are the 1,536- megawatt Brayton Point coal, natural gas and oil-fired facility in Massachusetts; the 1,158- MW Kincaid coal plant in Illinois; and the company's stake in the 1,424- MW Elwood gas plant in Illinois.

  • News Summary: Copper falls on demand questions Thursday, 25 Oct 2012 | 3:42 PM ET

    SLUMPING COPPER: Copper dropped after unimpressive reports on September home sales and orders for long-lasting goods failed to ease questions about future demand.

  • Marcellus Shale business merger activity slows Thursday, 25 Oct 2012 | 3:40 PM ET

    PITTSBURGH-- The wheeling and dealing over the natural gas-rich Marcellus Shale has hit the pause button. PwC said low natural gas prices were the main factor, not the output or potential of the vast shale gas formation that lies under parts of Pennsylvania, West Virginia, New York, Ohio and Maryland.

  • La. accountants seek information on tax credit Thursday, 25 Oct 2012 | 3:37 PM ET

    BATON ROUGE, La.-- Louisiana accountants have asked the Department of Revenue for more guidance on who is eligible for the state's alternative fuel vehicle tax credit, as Gov.

  • Sanofi and Unilever nudge European shares higher Thursday, 25 Oct 2012 | 3:36 PM ET

    LONDON, Oct 25- Reassuring updates from drugmaker Sanofi and consumer goods group Unilever lifted European shares on Thursday, although some traders felt worries over the euro zone would limit further moves higher.

  • News Summary: Sales contracts for US homes edge up Thursday, 25 Oct 2012 | 3:36 PM ET

    TINY INCREASE: The National Association of Realtors said Thursday that its seasonally adjusted index of sales agreements rose in September to a reading of 99.5. That's up from August's reading of 99.2 but below a two-year high of 101.9 reached in July.

  • Nevada taxable sales up 7.6 percent in August Thursday, 25 Oct 2012 | 3:35 PM ET

    CARSON CITY, Nev.-- Taxable sales in Nevada jumped 7.6 percent in August over the same month a year ago, with strong gains reported in several sectors including sales of cars and durable goods.

  • News Summary: Applications for US jobless aid fall Thursday, 25 Oct 2012 | 3:34 PM ET

    APPLICATIONS FALL: Weekly applications for U.S. unemployment aid fell 23,000 last week to a seasonally adjusted 369,000, the Labor Department said Thursday. The drop came after the figures were distorted for two weeks by technical problems.

  • Oct 25- ConocoPhillips and Occidental Petroleum Corp reported quarterly results that topped Wall Street estimates as they produced more oil and gas than expected, even as lower prices hurt profits. Conoco had record output in the Eagle Ford basin in south Texas, while Occidental saw strong production of higher-priced crude oil in the Permian Basin.

  • FACTBOX-Euro zone debt crisis: upcoming events Thursday, 25 Oct 2012 | 3:30 PM ET

    GERMANY: POLITICS: Oct. 29, DUBLIN- German Finance Minister Wolfgang Schaeuble meets his Irish counterpart Tony Noonan. EUROPEAN UNION: Nov. 12- Meeting of euro zone finance ministers in Brussels, expected to discuss the situation in Greece, as well as in Spain. Nov. 13- Meeting of all EU finance ministers in Brussels.

  • On the Call: United Continental CEO Jeff Smisek Thursday, 25 Oct 2012 | 3:29 PM ET

    United Airlines knows it needs to get back on its customers' good side. And parent company United Continental Holdings Inc. reported just $6 million in net income for the quarter. CEO Jeff Smisek said he knows that some regular customers went elsewhere, and that the airline is working to win them back.