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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • News Summary: Morgan Stanley faces lawsuit Monday, 15 Oct 2012 | 11:24 AM ET

    NEW YORK-- THE LAWSUIT: Morgan Stanley is being accused of discriminating against black homeowners and violating federal civil rights laws by providing strong incentives to a subprime lender to originate mortgages that were likely not to be repaid. Morgan Stanley says the allegations are without merit and that it will defend itself against the accusations.

  • News Summary: Kindle customers may get credit Monday, 15 Oct 2012 | 11:23 AM ET

    NEW YORK-- GIVE ME CREDIT: Amazon.com Inc. has informed its Kindle customers that they may receive a credit on previous electronic book purchases as part of settlements between some major e-book publishers and the government.

  • Lilly shares rise after report on cancer treatment Monday, 15 Oct 2012 | 11:21 AM ET

    Shares of Eli Lilly and Co. started the week strong after the drug developer said Monday a potential stomach cancer treatment met goals for improved patient survival and progression-free survival in a late-stage study that compared it to a dummy treatment.

  • 3M launches tender offer for Ceradyne deal Monday, 15 Oct 2012 | 11:11 AM ET

    ST. PAUL, Minn.-- A 3 M Co. subsidiary launched a tender offer Monday for all outstanding shares of common stock of Ceradyne Inc. as part of the office supply company's plan to buy the ceramic components maker. 3 M, which makes Post-It notes and other products, announced in September that it was buying Ceradyne for $847 million.

  • Manufacturers launch program to hire more veterans Monday, 15 Oct 2012 | 11:08 AM ET

    General Electric and Military Families at Syracuse University are developing a reference guide that employers can use to help them more effectively recruit and mentor veterans.

  • NJ Transit ending freebies for some Monday, 15 Oct 2012 | 11:08 AM ET

    NEWARK, N.J.-- New Jersey Transit will stop providing free rides for some employees and retirees. NJ Transit says the move could bring in an additional $1.6 million annually. Similar measures have been approved by the New Jersey Turnpike Authority, Delaware River Port Authority and Port Authority of New York and New Jersey.

  • SC jobless agency cutting more than 100 positions Monday, 15 Oct 2012 | 11:06 AM ET

    COLUMBIA, S.C.-- The agency that tracks South Carolina's unemployment rate is downsizing. The Department of Employment and Workforce said Monday it would cut more than 130 jobs statewide. South Carolina's jobless rate held fast at 9.6 percent in August, essentially remaining the same as in July.

  • UK fraud office drops Kaupthing probe Monday, 15 Oct 2012 | 11:06 AM ET

    LONDON-- Britain's Serious Fraud Office has ended an investigation of Iceland's Kaupthing bank after concluding there was insufficient evidence to justify extending the three-year probe.

  • AAA: Average price of gasoline in Washington $4.10 Monday, 15 Oct 2012 | 11:05 AM ET

    BELLEVUE, Wash.-- The AAA auto club reports the average price of a gallon of gasoline in Washington is $4.10. That's the same as a week ago and 4 cents higher than a month ago. Bellingham $4.20, Bremerton $4.10, Seattle- Bellevue- Everett $4.13, Tacoma $4.11, Olympia $4.14, Vancouver $4.10, Yakima $4.02, Tri-Cities $3.99, and Spokane $3.92.

  • US, China economic figures shore up markets Monday, 15 Oct 2012 | 11:03 AM ET

    LONDON-- Upbeat signs from the world's two largest economies propped up markets Monday, at the start of a week that could offer greater clarity on the economic fates of Greece and Spain.

  • Galveston reports record $8.4M in tourism revenue Monday, 15 Oct 2012 | 10:55 AM ET

    GALVESTON, Texas-- Galveston had a record $8.4 million in peak-season tourism revenue this year in a continuing turnaround since Hurricane Ike battered the Southeast Texas island. The Galveston County Daily-News reported Monday that officials believe a $100,000 marketing campaign called "It's Island Time" contributed to the increase.

  • Yongye International receives offer to go private Monday, 15 Oct 2012 | 10:53 AM ET

    NEW YORK-- Chinese plant and animal feed maker Yongye International said Monday that a group including its CEO is offering to take the company private.

  • Healthways gets Tennessee health program contract Monday, 15 Oct 2012 | 10:53 AM ET

    NASHVILLE, Tenn.-- Wellness program administrator Healthways Inc. said Monday it received a contract with a health plan that covers Tennessee state and local government employees and their families. Healthways did not disclose terms of the agreement, but said it will create 100 new jobs in Tennessee.

  • Oil falls near $90, erases last week's gains Monday, 15 Oct 2012 | 10:48 AM ET

    In morning trading, benchmark crude oil is down 1.9 percent, or $1.71, at $90.15. The Commerce Department says retail sales rose 1.1 percent last month. On Friday, the International Energy Agency issued a new report predicting slower growth in demand for oil over the next five years.

  • BMO analyst upgrades Costco, citing easing costs Monday, 15 Oct 2012 | 10:39 AM ET

    NEW YORK-- An analyst for BMO Research on Monday raised his rating on CostCo Wholesale Corp., saying he's less worried about high costs hurting the company's profitability. He had been concerned about Costco's gross margin rate, or profitability. The rate has been hurt as costs for stocking shelves have increased for Costco and other big-box retailers.

  • Municipal workers in South Africa threaten strike Monday, 15 Oct 2012 | 10:36 AM ET

    JOHANNESBURG-- Some 200,000 workers across South Africa will stop working later this week to protest official corruption and poor pay, a spokesman for the South African Municipal Workers' Union said, in action that will increase pressure on an economy already reeling from the impact of wildcat strikes in the crucial mining sector.

  • Allscripts names Richard Poulton of AAR as new CFO Monday, 15 Oct 2012 | 10:30 AM ET

    CHICAGO-- Electronic health records company Allscripts Health Solutions Inc. on Monday said Richard Poulton will soon be its new chief financial officer. Poulton most recently worked as the treasurer and CFO of defense contractor AAR Corp. He previously held executive positions at UAL Corp., the parent of United Airlines.

  • NASCAR and Fox sign 8-year extension through 2022 Monday, 15 Oct 2012 | 10:18 AM ET

    CHARLOTTE, N.C.-- NASCAR and Fox Sports Media Group announced a $2.4 billion, eight-year extension Monday that runs through 2022 and keeps the prestigious Daytona 500 and first third of the Sprint Cup Series on the network.

  • NYer accused of defrauding Broadway show 'Rebecca' Monday, 15 Oct 2012 | 10:12 AM ET

    NEW YORK-- A former stock broker was arrested early Monday on charges of defrauding the producers of the Broadway musical adaptation of Alfred Hitchcock's psychological thriller "Rebecca."

  • Lilly says possible cancer drug meets study goals Monday, 15 Oct 2012 | 10:12 AM ET

    INDIANAPOLIS-- Eli Lilly and Co. said a potential stomach cancer treatment met goals for improved patient survival and progression-free survival when compared to a dummy treatment in a late-stage clinical study. Shares of the Indianapolis drug developer climbed 3 percent, or $1.52, to $51.97 in Monday morning trading after the company released the report.