CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • HOUSTON, Oct 31- Phillips 66' s increased access to cheaper crude oil from the United States and Canada boosted its quarterly profits above analyst expectations after the U.S. refining company spun off from ConocoPhillips earlier this year, the company reported on Wednesday.

  • *MasterCard quarterly profit rises 8 percent. Oct 31- Increased consumer spending and card use worldwide drove quarterly profits higher for Visa Inc and MasterCard Inc, according to new financial reports from the two payments companies.

  • *Spot gold was little changed at $1,719.96 an ounce by 0025 GMT, after hitting a one-week high of $1,725.55 in the previous session. *Investors are awaiting China's official purchasing managers index data for October due at 0100 GMT, which is likely to show that the country's factory activity accelerated in October to its fastest pace in five months.

  • TOKYO, Nov 1- Sony Corp is likely to say it returned to an operating profit for July-September after it sold a chemicals business, but investors still aren't sure a consumer electronics revamp will deliver the profit growth the group seeks.

  • NEW YORK, Oct 31- The U.N. Security Council was forced to relocate on Wednesday for a meeting on Somalia and other issues because of extensive water damage to parts of the United Nations complex from the storm Sandy, U.N. officials and diplomats said.

  • WASHINGTON, Oct 31- A U.S. free trade agreement with Panama went into force on Wednesday, five years after it was originally negotiated, opening the way for increased U.S. exports as the Central American country continues its canal expansion project.

  • BANGKOK-- Asian stock markets showed modest improvement Thursday after two business surveys showed an upswing in China's manufacturing sector last month. That helped boost stocks in China and Japan.

  • *NYC could lose up to $1 billion total in economic activity. NEW YORK, Oct 31- The aftermath of super storm Sandy is costing New York City up to $200 million a day in permanently lost economic activity, including everything from the sale of pizza slices to corporate mergers and other Wall Street deals, the city's comptroller said on Wednesday.

  • *New Jersey Senators asked for more federal money. NEW YORK/ WASHINGTON, Oct 31- New York state on Wednesday asked the U.S. federal government to pay all the costs of cleaning up and repairing damage from massive storm Sandy that tore through the Northeast this week and crippled New York City.

  • Oct 31- Billionaire investor Carl Icahn bought 10 percent of Netflix Inc, presaging another bruising corporate battle and raising the possibility that the pioneering video-streaming company would get acquired.

  • Oct 31- U.S. federal energy regulators threatened to fine Barclays roughly $470 million to settle allegations that the bank and four traders manipulated California energy markets from November 2006 to December 2008.

  • *Market awaits China manufacturing data due 0100 GMT. Trading was expected to remain subdued in early Asian dealings as investors wait for the latest reading on China's manufacturing data due around 0100 GMT. There are still question marks over the leadership transition in China,'' said Greg Gibbs, senior FX strategist at RBS in Singapore.

  • TOKYO, Nov 1- Japan's Nikkei share average is expected to tread water on Thursday after month-end buying in the previous session took the index to close up for the month and ahead of the key U.S. jobs data on Friday.

  • NEW YORK, Oct 31- Massive storm Sandy could slow growth in the already weak U.S. economy to as little as 1 percent in the fourth quarter. A large chunk of property that was damaged as the storm raged through New Jersey, New York and beyond will be rebuilt or repaired, ranging from power plants and subway systems to beachfront towns hammered as Sandy struck the shore.

  • FERC says may fine Barclays $470 million. LONDON, Oct 31- Barclays, already rocked by an interest-rate rigging scandal, on Wednesday disclosed new U.S. regulatory investigations into the bank's financial probity and also said its profit was hit by charges for mis-selling insurance.

  • WASHINGTON, Oct 31- The Pentagon on Wednesday said it would continue to support ``large numbers'' of BlackBerry phones made by Research in Motion Ltd even as it moves forward with plans that would allow the U.S. military to begin using Apple Inc's iPhone and other devices.

  • *France objects to proposed farm subsidy cuts. BRUSSELS/ LONDON, Nov 1- British Prime Minister David Cameron came under pressure to act tough on the European Union budget and France threatened to use its veto, signalling a divisive start to bargaining over the 1 trillion euro long-term spending plan.

  • *BG blames Brazil tie-ins, Egypt, North Sea, U.S. for shortfall. *Agrees $1.93 deal with China's CNOOC. LONDON, Oct 31- British oil and gas firm BG Group told investors to expect no output growth in 2013 due to project delays and other factors, prompting a dive in its highly rated share price that wiped out as much as a fifth of its value.

  • *Storm Sandy may cost industry 100,000 vehicle sales. DETROIT, Oct 31- U.S. auto sales are set to rise 11 percent in October, led by Toyota Motor Corp and Honda Motor Co which benefited from increased demand for compact cars as gasoline prices remained high across the country.