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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • ISTANBUL, Oct 24- When a Turkish brewing company issued a U.S. dollar bond last week more cheaply than its government, the message to international debt markets was clear: expect a flood of bonds from Turkish issuers in coming months.

  • Prison, massive fine for French rogue trader Wednesday, 24 Oct 2012 | 7:56 AM ET

    PARIS-- The Paris appeals court has upheld former Societe Generale trader Jerome Kerviel's conviction for covering up massive losses, sentencing him to three years in prison and ordering him to pay back a staggering 4.9 billion in damages.

  • *STR20 transacted at $2.93- $3.04, RSS at $3.15- $3.20/ kg. SINGAPORE, Oct 24- Tyre grades changed hands in a series of overnight deals but many buyers from top consumer China stayed away, waiting for prices to fall further on lingering worries about the health of the global economy, dealers said on Wednesday.

  • *Nintendo Q2 op loss falls to 18.8 bln yen vs 19.6 bln yen. Nintendo says expects to sell 5.5 mln Wii U by March 31.

  • INTERVIEW-Asahi Life to focus on domestic bonds in H2 Wednesday, 24 Oct 2012 | 7:38 AM ET

    TOKYO, Oct 24- Asahi Mutual Life Insurance plans to focus on investing in domestic bonds while continuing to cut Japanese stock holdings in the six months to March 2013, as it aims for stable portfolio management, a senior official said on Wednesday.

  • HONG KONG, Oct 24- Hong Kong's benchmark Hang Seng index hit its highest intra-day level of the year on Wednesday, helped by gains in local property developers and sectors most sensitive to capital inflows into the territory. The Hang Seng rose 0.4 percent to 21,787.8, rising above the previous intra-day high on Feb. 20 this year.

  • American to add new US, international flights Wednesday, 24 Oct 2012 | 7:32 AM ET

    DALLAS-- American Airlines says it will start new international routes next year, seeking to capitalize on growth in international travel, especially among high-fare corporate travelers.

  • EU: Spain, Italy putting EU emissions cuts at risk Wednesday, 24 Oct 2012 | 7:28 AM ET

    COPENHAGEN, Denmark-- Debt-ridden Spain and Italy could hinder the European Union from achieving its goal of cutting greenhouse emissions under an international climate pact, the EU's environmental agency said Wednesday.

  • Nikkei ends 7-day winning streak on poor U.S. earnings Wednesday, 24 Oct 2012 | 7:01 AM ET

    TOKYO, Oct 24- Japan's Nikkei share average snapped a seven-session winning streak on Wednesday as poor U.S. earnings prompted investors to pocket gains on export-focused firms, although better-than-expected Chinese manufacturing data helped limit losses.

  • Ahead of the Bell: Oil supplies expected to rise Wednesday, 24 Oct 2012 | 7:01 AM ET

    NEW YORK-- The Energy Department is expected to report on Wednesday that the nation's crude oil supplies grew by 1.7 million barrels in the week ended Oct. 19, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

  • *Italy premier to visit Spain for debt crisis talks Wednesday, 24 Oct 2012 | 6:51 AM ET
  • PRECIOUS-Gold pares early gains; holds near 7-week low Wednesday, 24 Oct 2012 | 6:44 AM ET

    SINGAPORE, Oct 24- Gold trimmed gains Wednesday after early bargain hunting tapered off and worries about the global economy resurfaced, but festive demand from top consumer India could help shore up prices.

  • Goodyear Tire faces tough 3Q in troubled economy Wednesday, 24 Oct 2012 | 6:42 AM ET

    DETROIT-- Goodyear Tire& Rubber Co. faced a challenging third quarter in a sputtering economy, and its results could reflect that when they are released before the markets open on Friday.

  • Sumitomo Life: to increase yen bond buying in Oct-March Wednesday, 24 Oct 2012 | 6:36 AM ET

    TOKYO, Oct 24- Japan's Sumitomo Life Insurance plans to increase yen bond holdings in the six months to March, while taking a more cautious stance on foreign bonds, a senior official said on Wednesday.

  • BEIJING, Oct 24- China's economy is making a slow, steady recovery from its weakest period of growth in three years, a survey of purchasing managers signalled on Wednesday, with new orders and output at their highest in months.

  • Ahead of the Bell: New Home Sales Wednesday, 24 Oct 2012 | 6:18 AM ET

    WASHINGTON-- U.S. sales of new homes likely rose at a steady pace in September after a slight dip the previous month, further evidence that the housing market is steadily improving. Economists forecast that sales of new homes increased 2.4 percent to a seasonally adjusted annual rate of 382,000 last month, according to a survey by FactSet.

  • Yuan softens as c.bank signals desire for stability Wednesday, 24 Oct 2012 | 6:16 AM ET

    *Yuan eases slightly to 6.2510/ dollar. *Traders wary of hitting strong side of trading band. SHANGHAI, Oct 24- China's yuan eased on Wednesday, responding to a slightly weaker central bank midpoint, but still hovered near recent record levels, as traders say corporate yuan demand remains robust.

  • Nikkei snaps 7-day winning run on U.S. earnings gloom Wednesday, 24 Oct 2012 | 6:08 AM ET

    TOKYO, Oct 24- Japan's Nikkei average snapped a seven-session winning streak on Wednesday as poor U.S. earnings prompted investors to pocket gains on export-focused firms, although better-than-expected Chinese manufacturing data helped limit losses.

  • VW net profit rises 58 pct on accounting gain Wednesday, 24 Oct 2012 | 5:07 AM ET

    FRANKFURT, Germany-- German automaker Volkswagen AG says net profit rose 58 percent in the third quarter because of an accounting boost from its takeover of Porsche. Volkswagen said it was sticking to its earnings forecast despite what it called "growing headwinds" in the business environment.

  • HONG KONG, Oct 24- Mainland Chinese shares rose on Wednesday, outperforming most Asian peers and lifting the Hong Kong market to just short of a year-high after a survey of purchasing managers showed China's economy making a steady recovery. The China Enterprises Index of the top Chinese listings in Hong Kong was down 0.4 percent.