CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • GROSSETO, Italy-- A theater in Italy turned into a courtroom Monday, providing extra space for all those who needed to hear the evidence against the captain of a shipwrecked cruise ship.

  • Citigroup, the country's third-largest bank, on Monday turned in a third-quarter performance that beat Wall Street expectations and pushed its stock higher. Gerspach also wasn't too certain that an upturn in mortgages, which dominated earnings reports from JPMorgan Chase and Wells Fargo last week, would be enough to rescue a struggling economy.

  • Separately, the check-in system at Tam airlines, Brazil's biggest, was down for three hours early Monday at all locations around the world where the company operates, adding to the air transport chaos in Latin America's biggest nation.

  • NEW YORK-- The NHL and locked-out players' union will resume negotiations Tuesday in Toronto after a four-day break following two days of meetings last week. Discussions on how to divide hockey-related revenue took a back seat last week in New York when the league and union worked on secondary issues that also need to be resolved.

  • Last month's average temperature was 60.2 degrees Fahrenheit worldwide, which is 1.2 degrees above normal, the National Oceanic and Atmospheric Administration said Monday. NOAA climate monitoring chief Deke Arndt said it may be worth studying why September, more than other months, keeps setting world records.

  • SAN DIEGO-- Home prices in the San Francisco Bay area have risen to their highest level in four years. The San Diego research firm DataQuick reports Monday that the median price for Bay area homes last month was $429,000. It's also $139,000 higher than the mid-2009 low.

  • HOUSTON-- A former attorney in Houston who portrayed himself as a real estate investment tycoon has pleaded guilty in a $7.8 million Ponzi scheme. Federal prosecutors in Houston say 67- year-old Billy Frank Davis pleaded guilty Monday to wire fraud. Investigators say more than 20 investigators were scammed.

  • AUSTIN, Texas-- University of Texas regents approved a plan Monday to offer courses to students around the world through an advanced online platform alongside Harvard, MIT and the University of California-Berkeley.

  • PROVIDENCE, R.I.-- A Rhode Island economist says he sees some "real strength" and possible momentum in the state's economy. University of Rhode Island Professor Leonard Lardaro said in his "Current Conditions Index" report for August that the state economy seems to be gaining momentum, along with the U.S. economy.

  • NEW YORK-- Barbara Walters says she will interview Lindsay Lohan next month for ABC's "20/ 20" newsmagazine. The Lifetime biopic stars the 26- year-old actress as screen diva Elizabeth Taylor. It spotlights Taylor's quarter-century love affair with celebrated leading man Richard Burton, whom she married and divorced twice.

  • BYE-BYE, BROKERAGE: Citigroup negotiated last month to sell its remaining stake of its retail brokerage to Morgan Stanley. But Citi didn't get as much money as it was hoping for, and it had to take a $4.7 billion charge to third-quarter earnings.

  • THE JUMP: Shares of Abbott Laboratories Inc. rose Monday after the company said an experimental five-drug regimen cured 99 percent of patients in a 12- week mid-stage clinical trial. THE DATA: The North Chicago, Ill., company said the regimen worked on patients with the most common and hardest-to-treat type of the disease.

  • WASHINGTON-- Tobacco companies are urging a federal judge to reject the government's proposed industry-financed corrective statements, calling them "forced public confessions." The Justice Department countered that the statements need to be strong enough to protect people from future false statements made by cigarette makers.

  • WASHINGTON-- Nearly six in 10 Medicare recipients would pay higher premiums under a hypothetical privatized system along the lines of what Republican presidential candidate Mitt Romney has proposed, according to a study released Monday.

  • TAMPA, Fla.-- Reality TV star and former pro wrestler Hulk Hogan is suing a Tampa Bay- based disc jockey, the DJ's ex-wife and a New York media group over a sex tape. According to a news release from Hogan's publicist, two lawsuits will be discussed during a news conference Monday afternoon near the federal courthouse in Tampa.

  • The Commerce Department said retail sales rose 1.1 percent last month after a 1.2 percent increase in August. Citigroup stock rose after the bank beat Wall Street's earnings estimates. The stock was up $1.60 at $36.35.

  • "Promises that the new government will stop saving and start spending big-time are unrealistic," said Nerijus Maciulis, analyst at Swedbank. " Otherwise Lithuania will soon find itself in a situation similar to Greece. "

  • ABBEVILLE, S.C.-- A company that does screen printing and embroidery for promotional products is adding 50 new jobs at its facility in South Carolina's Abbeville County. Company president Kevin Nord says the company needs to expand to meet increasing customer demand.

  • NEW YORK-- Abbott Laboratories said Monday that its experimental hepatitis C drug regimen cured 99 percent of patients in a midstage study with the most common and hardest-to-treat type of the disease. Abbott shares rose $2.77, or 4 percent, to close at $72.05 Monday.