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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • Marathon Petroleum unit rises after IPO Friday, 26 Oct 2012 | 11:36 AM ET

    FINDLAY, Ohio-- A pipeline subsidiary of Marathon Petroleum Corp. rose in its stock market debut after raising $380.6 million in an initial public offering of its units. MPLX LP sold 17.3 million units at $22 each, above the expected range of $19 to $21, which suggested strong demand for the company.

  • Republic Airways inks aircraft deal with Caesars Friday, 26 Oct 2012 | 11:35 AM ET

    INDIANAPOLIS-- Republic Airways Holdings Inc. said Friday that it had agreed on a three-year deal with casino giant Caesars Entertainment Corp. to operate five Embraer E190 aircraft that will provide more than 1,500 flights each year for Caesars' customers.

  • HONG KONG, Oct 26- Hong Kong is to introduce new property cooling measures, including a new 15 percent tax on overseas buyers, to curb a rise in prices to increasingly unaffordable levels, Financial secretary John Tsang said on Friday.

  • HAMBURG, Oct 26- Loss-making General Motors unit Opel has not reached an agreement with its German workforce over a restructuring plan, including the planned closure of its Bochum plant, by the Friday deadline imposed by trade union IG Metall.

  • POLL-Geopolitics, monetary easing to support oil Friday, 26 Oct 2012 | 11:30 AM ET

    ``Supply risks are likely to push oil prices higher and ultra-loose monetary policy by major central banks should also increase liquidity in commodity markets and boost demand,'' said Carsten Fritsch, senior commodity analyst at Commerzbank.

  • WASHINGTON, Oct 26- The Federal Reserve's latest stimulus will not boost economic growth without creating unwanted inflation, said Jeffrey Lacker, president of the Richmond Fed and lone dissenter on the central bank's policy committee.

  • Oct 26- Chemical producer LyondellBasell Industries NV posted a 6 percent drop in quarterly profit on Friday due in part to higher costs in European operations. For the third quarter, the company reported net income fell to $846 million, or $1.46 per share, from $895 million, or $1.33 per share, in the year-ago period.

  • Romney closing argument focuses on the economy Friday, 26 Oct 2012 | 11:28 AM ET

    DEFIANCE, Ohio-- Mitt Romney is trying to close the deal with voters by focusing on their economic concerns, an area where polling shows the Republican nominee has an edge heading into the final days of the campaign.

  • *France: Lawmakers pass bill to pay for abortions Friday, 26 Oct 2012 | 11:27 AM ET
  • Looters strip Bulgaria of ancient treasures Friday, 26 Oct 2012 | 11:26 AM ET

    ARCHAR, Bulgaria-- On the banks of the Danube, in the northwest corner of Bulgaria, lie the remnants of an ancient Roman settlement called Ratiaria, host to a priceless cultural heritage.

  • Oshkosh profit rises, sales decline on defense orders Friday, 26 Oct 2012 | 11:24 AM ET

    Oct 26- Specialty truckmaker Oshkosh Corp on Friday reported higher fourth-quarter profit and reaffirmed its 2013 outlook and forecast that adjusted earnings would double by fiscal 2015..

  • LONDON, Oct 26- Accused UBS ``rogue trader'' Kweku Adoboli said on Friday he did not believe his behaviour had been fraudulent and it was unfair to suggest that his previous jobs in the UBS back office had given him the knowledge and skills to commit fraud.

  • Ally Bank looks to move away from mortgages Friday, 26 Oct 2012 | 11:19 AM ET

    MIDVALE, Utah-- Ally Bank, wanting to focus on auto lending and consumer deposits, is trying to take another step away from the mortgage industry.

  • Philippine official: $121K for car thief's head Friday, 26 Oct 2012 | 11:19 AM ET

    MANILA, Philippines-- The vice mayor of a southern Philippine city has offered a $121,000 reward for the decapitated head of the alleged leader of a gang of car thieves.

  • *Hurricane Sandy threatens U.S. after slamming Cuba. LONDON, Oct 26- Oil fell on Friday to around $108 a barrel and was heading for its second weekly drop, pressured by expectations U.S. economic growth will not be strong enough to bolster the demand outlook and by Europe's debt crisis.

  • Legg Mason profit up, with first net inflow since 2007 Friday, 26 Oct 2012 | 11:15 AM ET

    Oct 26- Asset manager Legg Mason Inc said on Friday that quarterly profit rose 42 percent as it reported the first quarterly net inflow since 2007.. For the second quarter ended Sept. 30, Baltimore- based Legg Mason on Friday reported net income of $80.8 million, or 60 cents per share, compared with 56.7 million, or 39 cents per share, in the same period a year earlier.

  • Merck posts mixed results for third quarter Friday, 26 Oct 2012 | 11:15 AM ET

    Oct 26- Merck& Co reported mixed third-quarter results, with earnings beating Wall Street forecasts but sales slightly missing the mark amid stiff generic competition that began in August for the company's Singulair asthma medicine.

  • Quality Systems 2Q results miss Wall Street's view Friday, 26 Oct 2012 | 11:13 AM ET

    IRVINE, Calif.-- Quality Systems' fiscal second-quarter net income declined 23 percent, weighed down by lower software license sales. Quality Systems earned $15.7 million, or 26 cents per share, compared with $20.5 million, or 35 cents per share, a year earlier.

  • LyondellBasell says 3Q net fell Friday, 26 Oct 2012 | 11:13 AM ET

    LyondellBasell, which refines oil and makes chemicals and plastics used in manufacturing and construction, said on Friday that its third-quarter net income fell 5.7 percent, as raw material prices rose and volumes in some businesses declined. LyondellBasell said it earned $844 million, or $1.46 per share, for the quarter that ended Sept. 30.

  • LONDON, Oct 26- Accused UBS ``rogue trader'' Kweku Adoboli said on Friday he did not believe his behaviour had been fraudulent and it was unfair to suggest that his previous jobs in the UBS back office had given him the knowledge and skills to commit fraud.