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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • NEW YORK, Oct 23- U.S. stocks fell on Tuesday, driving the Dow industrials to the lowest since June 21, as weak results from index members DuPont and United Technologies showed profit growth is slowing. Based on the latest available data, the Dow Jones industrial average slid 243.36 points, or 1.82 percent, to end unofficially at 13,102.53.

  • VMware 3rd-qtr profit beats estimates Tuesday, 23 Oct 2012 | 8:07 PM ET

    Oct 23- Software maker VMware Inc reported third quarter profits that beat estimates as it benefited from continued demand for virtual servers and cloud computing technologies. A division of storage giant EMC Corp, VMware said on Wednesday that quarterly revenue was $1.13 billion and profit, excluding items, was $303 million, or 70 cents per share.

  • SAN JOSE, Oct 23- Apple Inc unveiled an 8- inch version ``iPad mini'' to compete with smaller tablets including Amazon.com Inc's Kindle and Google Inc's Nexus 7 but will sell it at a higher-than-expected price of $329.

  • U.S. Army launching study of ground vehicle suppliers Tuesday, 23 Oct 2012 | 8:04 PM ET

    Scott Davis, the Army official who overseas ground combat vehicle programs such as the BAE Systems Plc's Bradley Fighting Vehicles and General Dynamics Corp's Abrams tank, said only ``a handful'' of companies had left the weapons sector so far, but the Army needed more information to prevent future gaps in critical capabilities.

  • TREASURIES-Spain, growth worries propel bond prices Tuesday, 23 Oct 2012 | 7:51 PM ET

    *Moody's downgrades Spanish regions including Catalonia. Moody's Investors Service downgraded five of Spain's regions, including the heavily indebted Catalonia by one or two notches, citing those areas' limited cash and upcoming debt repayments. The downgrade undermined earlier optimism after Moody's upheld Spain's investment-grade rating last week.

  • Hawaiian Airlines 3Q net income jumps 78 percent Tuesday, 23 Oct 2012 | 7:33 PM ET

    HONOLULU-- Hawaiian Airlines on Tuesday said its consolidated adjusted net income jumped 78 percent in the third quarter to $45.5 million as the company continued expanding flights to Asia and the U.S. mainland.

  • NEW YORK, Oct 23- Rosneft will eclipse the Western supermajors in crude output once the Russian state-controlled oil producer takes over rival TNK-BP, but despite its size, the company will hardly punch its weight in energy trading.

  • *Canada says meeting set for late Tuesday in Ottawa. OTTAWA/ KUALA LUMPUR, Oct 23- Representatives of Malaysia's Petronas will meet later on Tuesday with Canadian government officials who blocked the state oil company's C $5.17 billion bid for Progress Energy Resources Corp, Canadian Industry Minister Christian Paradis said.

  • News Summary: Low expectations for major Fed moves Tuesday, 23 Oct 2012 | 7:00 PM ET

    FED FEST: Federal Reserve officials began a two-day meeting on Tuesday, but expectations are low that they will have any major announcements. LAST TIME: At the September meeting the Fed announced a major support effort for the economy, including an open-ended round of $40 billion a month in mortgage bond purchases aimed at pushing mortgage rates lower.

  • Oct 23- U.S. companies borrowed more in September than a year ago to finance new equipment, the most in any month since December, but global economic and policy uncertainties curbed spending, the Equipment Leasing and Finance Association said on Tuesday.

  • SAN JOSE, Oct 23- Apple Inc took the wraps off an 8- inch tablet on Tuesday in its biggest product move since the debut of the iPad two years ago, launching a smaller version of the gadget into a market staked out by Amazon.com Inc and Google Inc. The 7.9 inch ``iPad mini'' marks Apple's first foray into the smaller-tablet segment.

  • Volcker group to say Illinois budget is unsustainable Tuesday, 23 Oct 2012 | 6:51 PM ET

    CHICAGO, Oct 23- Illinois has dug itself into such a huge financial hole that it may not be able to provide basic services to residents or meet employee benefit obligations, according to a national task force that is due to release a report about the state's finances.

  • Gilead's 3Q profit slips on acquisition costs Tuesday, 23 Oct 2012 | 6:47 PM ET

    FOSTER CITY, Calif.-- HIV drug maker Gilead Sciences Inc. said Tuesday that its third-quarter profit slipped on costs related to its purchase of hepatitis C drug developer Pharmasset Inc. But results still topped expectations and the company raised its sales forecast for the full year. The drug is the first approved by the FDA to reduce infection with HIV.

  • BUENOS AIRES, Oct 23- Flooding in Argentina's Pampas grains belt has allowed fungus-based diseases to attack wheat crops already hobbled by scant planting while more wet weather puts off soy and corn seeding until next week, analysts said on Tuesday.

  • Cement maker Cemex to cut jobs in Spain Tuesday, 23 Oct 2012 | 6:45 PM ET

    MADRID, Oct 23- The Spanish subsidiary of Mexico's top cement maker Cemex mulls cutting about one-fifth of its workforce in Spain, a trade union official told Reuters on Tuesday.

  • December crude fell $1.98, or 2.23 percent, to settle at $86.67 a barrel, having traded from $85.69 to $89.29.

  • *Boeing to meet airlines on large-jet needs. Jean-Marc Ayrault, who has just returned from Singapore and Philippines to help drum up business for French companies, told Airbus workers his trip had highlighted the importance of remaining competitive on world export markets.

  • NEW YORK, Oct 23- A panel of judges on Thursday will hear arguments that U.S. prosecutors should not have been able to play dozens of FBI wiretaps at the criminal trial of hedge fund tycoon Raj Rajaratnam, a closely watched appeal in one of the biggest insider-trading cases in a generation.

  • BRUSSELS, Oct 23- European Union countries will examine a plan this week to allow the ECB to supervise banks in states outside the euro zone alongside those within the currency area, according to an EU document that lays down limits on the central bank's role.

  • *Spanish debt yields rise as Moody's downgrades 5 regions. NEW YORK, Oct 23- The euro tumbled against the yen and hit a one-week low versus the dollar on Tuesday as concerns about a global economic slowdown and a spike in Spain's borrowing costs spurred broad-based risk aversion.