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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Supervalu to lay off 700 at its Shaw's chain Friday, 2 Nov 2012 | 11:21 AM ET

    NEW YORK-- Supervalu is cutting 700 positions at grocery stores at a subsidiary in New England, two weeks after it posted a loss for the second quarter and said it was considering selling the company. Supervalu Inc., based in Eden Prairie, Minn., fired its CEO in July after closing stores and suspending its dividend. Supervalu has about 14,000 employees overall.

  • *Aims to reduce dependence on China. ALMATY, Nov 2- Kazakhstan's state nuclear company and Japanese trading house Sumitomo Corp opened a new plant on Friday to produce rare earth metals coveted by technology companies ke e n to break China's stranglehold on global supply.

  • Emerging markets lift ITT third-quarter sales Friday, 2 Nov 2012 | 11:13 AM ET

    Nov 2- ITT Corp reported a lower quarterly net profit on Friday, reflecting the company's breakup a year ago, but earnings from continuing operations were up, helped by U.S. industrial demand and sales to energy markets in emerging economies.

  • Maine utilities sending 37 line crews south Friday, 2 Nov 2012 | 11:11 AM ET

    LePage noted that Central Maine Power was assisted by Canadian crews in restoring electricity to 165,000 customers who lost power during Superstorm Sandy and said, "Now it's time to focus on those who need our help." Central Maine Power said Thursday that it's sending 28 two-person repair crews and bucket trucks, along with support personnel and equipment.

  • Cuomo: NY utilities will be held accountable Friday, 2 Nov 2012 | 11:10 AM ET

    NEW YORK-- New York Gov. Andrew Cuomo has told utility companies that there could be fines and other consequences if the state believes they haven't been aggressive in dealing with storm-related power outages. Cuomo on Thursday released a letter he sent to the power companies.

  • *S&P 500 up 0.1 pts, Dow down 6 pts, Nasdaq down 2.25 pts. NEW YORK, Nov 2- S&P 500 stock index futures were little changed on Friday after Wall Street posted its best daily rise in seven weeks and ahead of the last monthly jobs report before the presidential elections next week.

  • New owners of 2 East Texas dailies sell weeklies Friday, 2 Nov 2012 | 11:04 AM ET

    LONGVIEW, Texas-- The new owner of two East Texas daily newspapers has sold 11 East Texas weeklies included in the purchase. Texas Community Media LLC announced that it has sold the weeklies acquired earlier this year as part of its purchase of the daily Longview News-Journal and Marshall News Messenger.

  • Nov 2- Thomson Reuters Corp reported on Friday a 15 percent fall in operating profit because of declining revenue and higher costs at its division that serves the financial industry.

  • SAN FRANCISCO, Nov 2- Two weeks before trial in a high-stakes lawsuit pitting Google's Motorola Mobility unit against Microsoft, Google made what has become a common request for a tech company fighting for billions of dollars: a public court proceeding conducted largely in secret.

  • WASHINGTON, Nov 2- The long, bumpy road to America's ``fiscal cliff'' has been traced over many years by Congress and successive U.S. presidents. Now, crucial deadlines loom at year-end on major budget and tax issues, a convergence of problems Federal Reserve Chairman Ben Bernanke dubbed a ``fiscal cliff.'' Will lawmakers rise to the challenge?

  • WASHINGTON, Nov 2- After the Nov. 6 elections, Congress and the White House will face tough decisions on tax rates, tax breaks and budget cuts in a convergence of high-stakes deadlines that Federal Reserve Chairman Ben Bernanke dubbed a' massive fiscal cliff.'.

  • FACTBOX-20 key players in U.S. 'fiscal cliff' drama Friday, 2 Nov 2012 | 10:59 AM ET

    WASHINGTON, Nov 2- After the Nov. 6 elections, urgent tax and spending issues must be addressed, forcing Washington's power players to make some tough decisions before the end of the year. Regardless of who wins the Nov. 6 presidential election, Obama will be in the White House during the final months of 2012 when the ``fiscal cliff'' must be dealt with.

  • NEW YORK, Nov 2- Without power in Manhattan since the storm Sandy hit, Doug Block is in denial about his car. The 2003 Pontiac Vibe is in a garage on East 20th Street- a good two blocks from the East River- and flooded, probably over the top of its hood.

  • LONDON, Nov 2- World shares were steady near two-week highs and the dollar at a seven-week high ahead of U.S. jobs data that will provide the last major signal on the state of the world's leading economy before its voters pick a president on Tuesday.

  • LONDON, Nov 2- Euro zone manufacturing shrank for the 15th month running in October as output and new orders fell, a survey showed on Friday, fuelling expectations of further easing from the European Central Bank.

  • Hess 3Q net income jumps on higher production Friday, 2 Nov 2012 | 10:43 AM ET

    NEW YORK-- Hess Corp. nearly doubled its third quarter profits as the company resumed operations in Libya and ramped up production in giant Bakken shale play. The New York company breezed past Wall Street expectations and shares rose 4 percent in early trading.

  • UPDATE 1-Europe approves high-price gene therapy Friday, 2 Nov 2012 | 10:43 AM ET

    *European Commission clears Glybera for ultra rare disease. The formal clearance from the European Commission paves the way for a launch next summer of the treatment for an ultra rare genetic disease that will cost around 1.2 million euros per patient, a new record for pricey modern medicines.

  • Va. port receives NY cargo diverted by superstorm Friday, 2 Nov 2012 | 10:41 AM ET

    NORFOLK, Va.-- The Port of Virginia has started receiving cargo diverted from the Port of New York and New Jersey because of Superstorm Sandy. The U.S. Coast Guard opened the Port of New York and New Jersey on Thursday on a restricted basis to get gasoline and fuel to the areas hit hardest.

  • Judge dismisses lawsuit over Del. prevailing wage Friday, 2 Nov 2012 | 10:39 AM ET

    WILMINGTON, Del.-- A Delaware judge has dismissed a lawsuit challenging the state Labor Department's determination that a company must pay its employees the state's prevailing wage rates.

  • LONDON, Nov 2- Copper prices slipped on Friday, and were on course for their fourth weekly drop, as uncertainty about economic growth and the outlook for demand kept investors cautious ahead of the release of labour market data from the United States.