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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • *Xerox 3Q profit down 12 pct, matches expectations Tuesday, 23 Oct 2012 | 9:59 AM ET
  • Upset with FERC ruling, Idaho Power wants do-over Tuesday, 23 Oct 2012 | 9:58 AM ET

    The IdaCorp Inc. unit on Monday told the Federal Energy Regulatory Commission its Sept. 20 order was premature and disregards negative impacts on ratepayers. Idaho Power and other utilities have been scuffling with wind farms over whether utilities can curtail contractually-required purchases at times when few customers need electricity.

  • BBC boss: Corporate culture aided abuser Savile Tuesday, 23 Oct 2012 | 9:58 AM ET

    LONDON-- The BBC has become the latest large institution to find itself accused of failing to stop sex abusers in its midst, with its chief acknowledging Tuesday that a "cultural problem" within the broadcaster had allowed the late TV host Jimmy Savile to molest children and teenagers for decades.

  • Target to sell credit card business to TD Bank Tuesday, 23 Oct 2012 | 8:56 AM ET

    NEW YORK-- Target Corp. on Tuesday said it reached a deal to sell its entire consumer credit card business to TD Bank Group, ending an almost two-year search for a buyer. The two companies also entered into a seven-year pact under which TD Bank will underwrite, fund and own future Target credit card and Target Visa receivables in the U.S.

  • Italian police arrest ex-Finmeccanica executive Tuesday, 23 Oct 2012 | 8:49 AM ET

    MILAN-- An Italian investigation into alleged corruption in the awarding of international contracts to aerospace and defense giant Finmeccanica led to the arrest Tuesday of the company's former commercial director and has implicated a former Cabinet minister.

  • Strong overseas, US sales lift Coach 1Q profit Tuesday, 23 Oct 2012 | 8:30 AM ET

    NEW YORK-- Coach Inc. reported a 3 percent increase in first-quarter profits as the luxury accessories retailer's results were powered by strong sales in the U.S. and overseas, particularly China. The New York- based retailer also said Tuesday that its board authorized the repurchase of up to $1.5 billion of its outstanding stock by June 30, 2015.

  • Insurer Centene's 3Q profit plunges 87 percent Tuesday, 23 Oct 2012 | 8:13 AM ET

    Centene Corp. said Tuesday it is suing Kentucky, a state that has generated heavy losses for the Medicaid coverage provider, as it reported an 87 percent plunge in third-quarter earnings. Centene said it filed a lawsuit against Kentucky over the state's "failure to completely and accurately disclose material information."

  • *RadioShack posts 3Q loss, misses Street's view Tuesday, 23 Oct 2012 | 7:34 AM ET
  • Reynolds American 3Q profit up nearly 7 percent Tuesday, 23 Oct 2012 | 7:28 AM ET

    RICHMOND, Va.-- Reynolds American Inc.' s third-quarter profit grew nearly 7 percent as higher prices and smokeless tobacco gains helped offset a decline in the number of cigarettes it sold.

  • Markets subdued as focus remains on US Tuesday, 23 Oct 2012 | 6:48 AM ET

    LONDON-- Financial markets were on the defensive Tuesday ahead of another round of U.S. corporate earnings, including from Facebook, and amid uncertainty over the outcome of the U.S. presidential election. Facebook's earnings results after the market close will be key for its future.

  • Royal Dutch Shell makes Nigeria production warning Tuesday, 23 Oct 2012 | 6:31 AM ET

    LAGOS, Nigeria-- Royal Dutch Shell PLC warned Tuesday that it won't be able to make its estimated production for two types of oil pumped from Nigeria, largely blaming attacks on its pipelines by thieves wanting to steal crude.

  • Nokia launches $980 million bond offering Tuesday, 23 Oct 2012 | 5:44 AM ET

    HELSINKI-- Nokia Corp. is planning to raise 750 million via an issue of bonds as part of an effort to build up its reserves ahead of next month's launch of phones running Microsoft's new Windows 8 software. Last week, Nokia posted a third-quarter net loss of 969 million as sales dwindled 20 percent to 7.2 billion.

  • BBC boss to face lawmaker committee over scandal Tuesday, 23 Oct 2012 | 4:09 AM ET

    LONDON-- The director general of the BBC is set to face a lawmaker committee to explain why the broadcaster pulled an expose unmasking one of its most popular entertainers as a pedophile. George Entwistle will face lawmakers on the Culture Media and Sport Select Committee on Tuesday.

  • WHY IT MATTERS: Abortion and birth control Tuesday, 23 Oct 2012 | 12:57 AM ET

    Wade _ the Supreme Court ruling establishing abortion rights _ should be reversed, which would allow states to ban abortion. That's hyperbole, retorts the GOP, but there are indeed stark differences between the two parties over these volatile issues.

  • Russian brochure depicts migrants as tools Tuesday, 23 Oct 2012 | 12:56 AM ET

    ST. PETERSBURG, Russia-- It was intended as a friendly guide to Russia for labor migrants from Central Asia, but instead it turned into an insult. The government of Tajikistan formally urged Russian authorities to remove the book from circulation, and representatives of the Uzbek community voiced their outrage.

  • Heelys agrees to sell operations to private buyer Tuesday, 23 Oct 2012 | 12:55 AM ET

    DALLAS-- Heelys Inc., maker of wheeled shoes for kids, said Tuesday it has agreed to sell its operations to a group led by the private equity firm Evergreen Group Ventures for $13.9 million in cash and then dissolve what is left of the company.

  • WHY IT MATTERS: Social Security Tuesday, 23 Oct 2012 | 12:51 AM ET

    Unless Congress acts, the trust funds that support Social Security will run out of money in 2033, according to the trustees who oversee the retirement and disability program. At that point, Social Security would collect only enough tax revenue each year to pay about 75 percent of benefits.

  • Dollar strengthens as stocks fall Tuesday, 23 Oct 2012 | 12:51 AM ET

    DuPont, the chemical maker, and 3 M, which makes everything from Scotch tape to traffic sign coatings, are among the companies that posted disappointing results. The euro fell to $1.2973 in afternoon trading from $1.3045 late Monday. The British pound fell to $1.5935 from $1.6006.

  • Star Scientific falls as settlement disclosed Tuesday, 23 Oct 2012 | 12:51 AM ET

    NEW YORK-- Shares of Star Scientific fell 6 percent on Tuesday as investors likely viewed a $5 million payout in a patent dispute settlement as smaller than anticipated.

  • Oil stocks fall as crude prices sink Tuesday, 23 Oct 2012 | 12:51 AM ET

    Weak or cautious forecasts this week from major manufacturers including 3 M Co., Korean steel maker Posco and heavy equipment manufacturer Caterpillar contributed to concern about global economic growth. Exxon Mobil Corp. fell $1.94, or 2.1 percent, to $90.25; and ConocoPhillips fell $1.12, or 2 percent, at $55.92;.