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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • 1st NJ medical marijuana center OK'd to open Monday, 15 Oct 2012 | 3:25 PM ET

    TRENTON, N.J.-- New Jersey's Health Department says it's issuing its first license to allow a medical marijuana dispensary to open. Officials announced Monday that Greenleaf Compassionate Care Center in Montclair has cleared all the hurdles to open. Health Commissioner Mary O'Dowd says she expects the dispensary will not be able to open immediately.

  • Firm withdraws bid to run Va port operations Monday, 15 Oct 2012 | 3:25 PM ET

    RICHMOND, Va.-- One of the companies vying to operate some of the Virginia's port terminals has dropped out of the competition. State Transportation Secretary Sean Connaughton told the House Appropriations Committee on Tuesday that Carlyle Group has withdrawn its proposal.

  • News Summary: India inflation up to 7.8 pct. Monday, 15 Oct 2012 | 3:15 PM ET

    FUEL-FIRED: India's inflation rate accelerated to 7.8 percent in September after the government hiked subsidized fuel prices to rein in the budget deficit. RATE AND A HARD PLACE: The number is worse than expected and gives the central bank little room to cut its key interest rate to counter slowing economic growth when it meets later this month.

  • News Summary: Profits slide at India's Reliance Monday, 15 Oct 2012 | 3:05 PM ET

    DEFLATING EARNINGS: India's Reliance Industries reported a 5.7 percent slide in September quarter profits from a year ago, as the company scales back investment in India's largest oil and gas fields.

  • Movers roundup: Eli Lilly, Pandora Monday, 15 Oct 2012 | 3:05 PM ET

    Among the stock activity stories for Monday, Oct. 15, from AP Business News:. _ Shares of Internet radio company Pandora Media Inc. fell on worries about increasing competition after Microsoft Corp. announced that it would roll out a new music service.

  • Court throws out Seattle yellow-pages restrictions Monday, 15 Oct 2012 | 3:02 PM ET

    SEATTLE-- A federal appeals court panel says Seattle's restrictions on distributing the yellow pages in the city violate the U.S. District judge in Seattle upheld the restrictions after finding the phone books constituted primarily commercial speech not entitled to the full protection of the First Amendment.

  • Unemployment insurance tax to drop in Maryland Monday, 15 Oct 2012 | 3:01 PM ET

    Martin O'Malley is crediting Maryland business owners for struggling to keep workers employed during the recession and its aftermath with enabling the state to lower the unemployment insurance tax by more than half for many employers.

  • Solyndra asks judge to approve reorganization plan Monday, 15 Oct 2012 | 2:59 PM ET

    WILMINGTON, Del.-- The failed solar power company Solyndra LLC is asking a Delaware bankruptcy judge to confirm its proposed reorganization plan over objections from government attorneys. Lawyers also addressed and rejected Internal Revenue Service and Department of Energy objections.

  • Items from Schilling's co. shown before auction Monday, 15 Oct 2012 | 2:55 PM ET

    The company is selling off all its assets in separate auctions planned for Tuesday in Maryland and next week at the company's downtown Providence, R.I., headquarters, where Schilling's team was working on the "massively multiplayer online game" that was critical for 38 Studios' success.

  • Sector snap: Toy shares fall on analyst caution Monday, 15 Oct 2012 | 2:53 PM ET

    In addition, Hasbro, which makes Scrabble board games and Transformers action figures, is facing some company specific issues, such as an overdependence on traditional board games and boys' toys, categories likely to shrink. Kelter downgraded Hasbro to "Sell" from "Neutral" and cut its 12- month price target by $2 to $32.

  • News Summary: 2 Americans win Nobel econ prize Monday, 15 Oct 2012 | 2:51 PM ET

    ECONOMICS PRIZE: Two American scholars won the Nobel economics prize Monday for work that has helped match young doctors with hospitals, students with New York City public schools and even men with women in marriage.

  • News Summary: Slovenia economy falters Monday, 15 Oct 2012 | 2:47 PM ET

    COLLAPSE: Slovenia was once a star among the eastern European states that joined the European Union after communism's fall. :Slovenia could become the sixth member of the eurozone, and the first among the bloc's former socialist countries, to need an emergency bailout to avoid bankruptcy.

  • News Summary: Portugal unveils more austerity Monday, 15 Oct 2012 | 2:38 PM ET

    MORE AUSTERITY: Portugal's government announced sharp tax increases for next year that risk worsening a recession and stoking public discontent. The budget for 2013 takes away the equivalent of a month's wages from many workers. More than a decade of meager growth compelled Portugal to ask for a $101 billion rescue last year to avert bankruptcy.

  • News Summary: US business stockpiles grew in Aug Monday, 15 Oct 2012 | 2:36 PM ET

    STOCKING UP: U.S. companies restocked their shelves at a solid pace in August while sales rose for a second straight month. The combination should help to boost economic growth. THE DETAILS: Business inventories grew 0.6 percent in August following a July gain of 0.8 percent that had been the strongest since January, the Commerce Department said Monday.

  • Sector Snap: Education companies mostly decline Monday, 15 Oct 2012 | 2:22 PM ET

    Recent data released by the Department of Education shows that students at for-profit schools have the highest default rates on student loans.

  • US court panel upholds ruling against Fla. tribe Monday, 15 Oct 2012 | 2:22 PM ET

    A three-judge panel of the 11th U.S. Circuit Court of Appeals ruled that the IRS can subpoena banks for the records, despite the Miccosukee tribe's claims that it is protected by sovereign immunity.

  • 4 college savings plans get top Morningstar honors Monday, 15 Oct 2012 | 2:21 PM ET

    BOSTON-- College savings plans offered through the states of Alaska, Maryland, Nevada and Utah earned top marks from Morningstar Inc. in the company's annual update to ratings of so-called 529 plans.

  • NJ Senator: Take politics out of minimum wage hike Monday, 15 Oct 2012 | 2:19 PM ET

    TRENTON, N.J.-- New Jersey Senate President Steve Sweeney says minimum wage increases should not be decided by politicians. It would ask voters to raise the wage by $1, to $8.25 per hour, and tie yearly increases to national economic data, called indexing. The Gloucester County Democrat says he decided to try to amend the constitution after Gov.

  • Celgene downgraded on potential acquisitions Monday, 15 Oct 2012 | 2:17 PM ET

    NEW YORK-- An Oppenheimer& Co. analyst downgraded shares of Celgene Corp. on Monday, saying he thinks the biotechnology company is getting ready to make some pricey new acquisitions. Peaker said he expects continued growth in sales of the cancer drug Revlimid, Celgene's biggest product, in the coming years.

  • Harris shares fall after Lazard downgrade Monday, 15 Oct 2012 | 2:16 PM ET

    Harris Corp.' s shares fell in trading Monday after a Lazard Capital Markets analyst downgraded his rating on the communication and information technology company's stock, citing worries about weaker revenue.