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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Economics to cap this year's Nobel announcements Monday, 15 Oct 2012 | 1:03 AM ET

    STOCKHOLM-- A Swedish committee is getting ready to present the winners of the Nobel Memorial Prize in Economic Sciences, the last of this year's Nobel awards to be announced. The economics prize was not among the original prizes established in the will of Alfred Nobel, a Swedish industrialist also known for inventing dynamite.

  • Maine brewery to expand, add 15-20 jobs Monday, 15 Oct 2012 | 12:59 AM ET

    LEWISTON, Maine-- A Maine brewery is planning an expansion that will quadruple its capacity over time. Baxter Brewing Co. said Monday its brewery in Lewiston will grow from 8,000 barrels to more than 33,000 barrels by the time the expansion is complete.

  • Pa. to distribute $200M from gas drilling fees Monday, 15 Oct 2012 | 12:57 AM ET

    HARRISBURG, Pa.-- Pennsylvania state agencies and local governments in places where drilling for natural gas is occurring learned Monday how much money they will get out from a fund that has already collected more than $200 million in "impact fees" from drillers.

  • MTA unveils fare, toll hike proposals Monday, 15 Oct 2012 | 12:56 AM ET

    NEW YORK-- New York City's transit authority unveiled its latest fare and toll proposals for rails, bridges and subways on Monday, including one that would raise the 30- day unlimited subway MetroCard from $104 to $125. The Metropolitan Transit Authority has said the 2013 hike would bring in $450 million a year to support the nation's largest transit system.

  • *LVMH sales rise 15 percent in Q3 to $8.95 billion Monday, 15 Oct 2012 | 12:44 AM ET
  • Oil falls below $91; gas down 2 cents over weekend Monday, 15 Oct 2012 | 12:40 AM ET

    In midday trading, benchmark crude oil was down 99 cents, or 1.1 percent, to $90.87. 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.

  • Workday shares jump in second day of trading Monday, 15 Oct 2012 | 12:40 AM ET

    Shares of Workday Inc. jumped Monday in its second day of trading as a public company. The company raised $637 million in its IPO, selling 22.8 million shares for $28 each, above the expected range of $24 to $26 per share. It competes with giant corporations in enterprise software like Oracle Corp. and SAP AG.

  • Clearwire shares jump on Softbank-Sprint deal Monday, 15 Oct 2012 | 12:27 AM ET

    NEW YORK-- Shares of Clearwire Corp., which operates a wireless data network, hit a 52- week high after Japan's Softbank Corp. agreed to pay $20.1 billion for a 70 percent stake in Sprint Nextel Corp.. THE SPARK: Sprint owns 48 percent of Clearwire but doesn't control its board. It's also Clearwire's biggest customer, reselling access to its network as " Sprint 4 G."

  • AirAsia aborts deal to buy Indonesia's Batavia Air Monday, 15 Oct 2012 | 12:22 AM ET

    KUALA LUMPUR, Malaysia-- Southeast Asia's top budget carrier AirAsia said Monday it has aborted an $80 million deal to buy Indonesia's Batavia Air because it will be too risky for shareholders. Our aggressive focus in Indonesia remains and we will push our Indonesian IPO plans while still maintaining close co-operation with Batavia Air. "

  • Asian powers double defense spending in a decade Monday, 15 Oct 2012 | 12:14 AM ET

    WASHINGTON-- Asia's top powers have doubled defense spending in the past decade, spurred by the explosion in military expenditure by China, new research shows. The research covers China, Japan, India, South Korea and Taiwan, which account for some 87 percent of Asia's defense spending.

  • Millennial raises 3Q revenue Monday, 15 Oct 2012 | 12:05 AM ET

    BALTIMORE-- Millennial Media Inc. raised its third-quarter revenue forecast Monday on increasing demand, but the mobile advertising company said it expects to post a net loss for its third quarter. The Baltimore- based company anticipates revenue of $46.5 million to $47 million, up from its prior outlook of $43.5 million to $45 million.

  • Poll: Economists foresee weak but improving growth Monday, 15 Oct 2012 | 12:02 AM ET

    CHICAGO-- Economists foresee only tepid growth for the coming year, with unemployment back above 8 percent for the first half of 2013.. The quarterly survey by the National Association for Business Economists released Monday predicts growth will be weak overall but should slowly accelerate through 2013..

  • Asia stocks fall as China easing hopes dim Sunday, 14 Oct 2012 | 11:10 PM ET

    BANGKOK-- Asian stock markets fell Monday as hopes dimmed for aggressive moves by China to stimulate its slowing economy.

  • Cornell NYC Tech campus mixes students, executives Sunday, 14 Oct 2012 | 10:02 PM ET

    Students walking to their apartments might encounter executives heading to a conference on Cornell NYC Tech's park-like campus on Roosevelt Island, according to a plan being submitted Monday for a city review.

  • Lithuanians sway toward opposition parties Sunday, 14 Oct 2012 | 7:09 PM ET

    All three parties promised radical policy changes, including increased wages and lower taxes, while the Social Democrats said that Lithuania should postpone introducing the euro until Europe could straighten out its current financial mess.

  • Corrosion linked to 2011 Chevron refinery fire Sunday, 14 Oct 2012 | 5:58 PM ET

    SAN FRANCISCO-- Corrosion that went unchecked _ the suspected cause of a fire at Chevron Corp.' s Richmond refinery in August _ has been linked to a fire at the plant in October 2011, the San Francisco Chronicle reported Sunday.

  • Lithuanian voters swing to opposition parties Sunday, 14 Oct 2012 | 4:13 PM ET

    VILNIUS, Lithuania-- Opposition populists and leftists in crisis-worn Lithuania hinted they were prepared to form a government coalition after an exit poll late Sunday indicated their parties would take first and second place in the country's parliamentary elections.

  • Big separatist gains in local Belgian elections Sunday, 14 Oct 2012 | 2:18 PM ET

    BRUSSELS-- The leader of a separatist party won the race to become mayor of Antwerp, Europe's second biggest port city, and vowed Sunday to use the power base to seek wider autonomy for Belgium's wealthy Dutch-speaking region of Flanders.

  • Facts about the amphibious Quadski Sunday, 14 Oct 2012 | 2:10 PM ET

    Gibbs Sports Amphibians says its new Quadski, which can drive on land as well as in the water, will go on sale before the end of this year. _ PRICE: The company says it will cost around $40,000. Dealerships will be concentrated in New York, Boston, the Great Lakes, Florida and Texas.

  • Amphibious vehicle to go on sale soon in US Sunday, 14 Oct 2012 | 1:47 PM ET

    DETROIT-- Amphibious vehicles could soon be zooming out of James Bond's garage _ or pond _ and into yours. Michigan- based Gibbs Sports Amphibians Inc. hopes to sell the vehicle worldwide by 2014.. It's sort of magic, "the founder of Gibbs Sports Amphibians, Alan Gibbs, told The Associated Press in a recent interview.