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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Man arrested on suspicion of defacing Rothko work Tuesday, 9 Oct 2012 | 8:48 AM ET

    LONDON-- British police on Monday arrested the man who told journalists he was responsible for scrawling graffiti on a mural by modern American master Mark Rothko at London's Tate Modern museum.

  • Jim Lehrer: No regrets for debate moderating Tuesday, 9 Oct 2012 | 8:47 AM ET

    NEW YORK-- Jim Lehrer said Monday that he accomplished precisely what he wanted to while moderating the first presidential debate: get Mitt Romney and Barack Obama talking to each other.

  • Julius Baer eyes 1,000 job cuts after Merrill deal Tuesday, 9 Oct 2012 | 8:47 AM ET

    GENEVA-- Swiss private bank Julius Baer says it plans to cut about 1,000 jobs from Merrill Lynch's wealth management operations outside the United States following a deal to buy the unit from Bank Of America.

  • Review: 'Fable: The Journey' casts Kinect magic Tuesday, 9 Oct 2012 | 8:46 AM ET

    When the Kinect system was unleashed two years ago for the Xbox 360, there were promises that the camera-based, gesture-detecting gadget could turn users' bodies into paintbrushes, allow them to chat with a virtual lad named Milo, transform real-world skateboards into digital ones and transport wannabe Jedis to a galaxy far, far away.

  • MRC Global issues strong 3Q outlook Tuesday, 9 Oct 2012 | 8:42 AM ET

    HOUSTON-- MRC Global Inc. on Tuesday issued strong third-quarter financial guidance and raised the high end of its revenue prediction for the full year. The Houston- based global energy products distributor, which went public in April, said it expects to post third-quarter net income of between 45 cents and 52 cents per share.

  • Sears expects $446.5M in proceeds from offering Tuesday, 9 Oct 2012 | 8:25 AM ET

    HOFFMAN ESTATES, Ill.-- Sears expects to receive about $446.5 million in gross proceeds from an offering tied to the spinoff of its Hometown and Outlet stores. Sears Holdings Corp. had signaled in February that it would split off the companies as a separate publicly traded entity.

  • US futures mixed ahead of US earnings season Tuesday, 9 Oct 2012 | 8:14 AM ET

    NEW YORK-- Stock futures were mixed Tuesday with a new outlook on the global economic landscape y providing markets with fewer reasons to overlook what is likely to be a weak quarter for many of the biggest U.S. corporations.

  • Ahead of the Bell: Shoe Carnival upgraded Tuesday, 9 Oct 2012 | 8:10 AM ET

    NEW YORK-- Sterne, Agee& Leach is boosting its ratings on Shoe Carnival, citing sales and better-than-expected store growth potential. Shoe Carnival already has 17 leases signed for next year and 10 others that are close to being signed, Poser said. Poser raised his rating on Shoe Carnival Inc. to "Buy" from "Neutral" and gave a $28 price target.

  • Spain Red Cross seeks funds for crisis poor Tuesday, 9 Oct 2012 | 8:10 AM ET

    MADRID-- Spain's Red Cross is launching its first-ever public appeal for donations to help the growing number Spaniards in need of help because of the country's economic crisis. The agency helped some 2 million people in Spain last year, most of who were in need of food or money. Spain is in its second recession in three years with near 25 percent unemployment.

  • Ahead of the Bell: Yum Brands Tuesday, 9 Oct 2012 | 8:06 AM ET

    NEW YORK-- Investors are hoping to see a rebound in profit from operations in China when Yum Brands Inc. reports its fiscal third-quarter earnings after Tuesday's closing bell. The China business had strong sales growth in the quarter, but inflation reduced its profit.

  • US, India discuss lowering economy barriers Tuesday, 9 Oct 2012 | 8:05 AM ET

    Treasury Secretary Timothy Geithner met Tuesday with India's finance minister to discuss lowering trade and investment barriers just weeks after the Indian government started a drive to reignite the nation's declining economic growth.

  • China consumers spurn Japan cars amid islands row Tuesday, 9 Oct 2012 | 7:56 AM ET

    TOKYO-- Sales of Japanese vehicles nosedived in China during September as anti-Japanese sentiment flared over a territorial dispute that threatens to hobble what was a booming business relationship between Japan and its biggest export market.

  • Japan economy shaky as island spat hits business Tuesday, 9 Oct 2012 | 7:51 AM ET

    But the high-pitched row between Beijing and Tokyo over their ownership is exacting a growing toll on Japan, threatening to send its recovery from last year's disasters into reverse.

  • 11 EU countries agree to financial transaction tax Tuesday, 9 Oct 2012 | 7:49 AM ET

    LUXEMBOURG-- European Union finance ministers grappled Tuesday with how to support their struggling banks and ensure that failing financial institutions don't have the power to drag down entire countries with them.

  • Cytec to sell coating resins business for $1.03B Tuesday, 9 Oct 2012 | 7:46 AM ET

    WOODLAND PARK, N.J.-- Chemical coating maker Cytec Industries Inc. said Tuesday it has agreed to sell its coating resins business to private equity firm Advent International for $1.03 billion.

  • Destination Maternity 4Q revenue tops Street Tuesday, 9 Oct 2012 | 7:33 AM ET

    PHILADELPHIA-- Destination Maternity said Tuesday that its fiscal fourth-quarter revenue dipped slightly, but the results still managed to beat Wall Street's expectations. Destination Maternity said that its quarterly revenue fell less than 1 percent to $128.5 million.

  • Survey: Small biz owners growing more pessimistic Tuesday, 9 Oct 2012 | 7:31 AM ET

    NEW YORK-- Small business owners are growing more pessimistic. A survey released Tuesday by the National Federation of Independent Business shows that owners became more pessimistic during September as employment and sales remained weak. The NFIB's index of owner optimism fell 0.1 point to 92.8.

  • Stanley Black & Decker selling unit for $1.4B Tuesday, 9 Oct 2012 | 7:25 AM ET

    NEW BRITAIN, Conn.-- Tool maker Stanley Black& Decker Inc. is selling its hardware and home-improvement business to Spectrum Brands Holdings Inc. for $1.4 billion in cash. Stanley Black& Decker, which is based in New Britain Conn., said the sale is part of its ongoing strategy to diversify its revenue and geographic reach.

  • World stocks stall after Asian session Tuesday, 9 Oct 2012 | 7:21 AM ET

    AMSTERDAM-- World stock markets mostly declined Tuesday against a backdrop of worries about global economic growth and Europe's debt crisis. Meanwhile, comments by the International Monetary Fund on the global economy "provide a gloomy backdrop" for the day, said Monument Securities analyst Marc Ostwald.

  • Ahead of the Bell: Alcoa Tuesday, 9 Oct 2012 | 7:01 AM ET

    NEW YORK-- Alcoa Inc. may set the stage for what's expected to be a disappointing earnings season when it reports third-quarter results Tuesday after the markets close. Alcoa's net income equaled 15 cents a share in the third quarter of 2011.. Alcoa faces challenges from a slowdown in global manufacturing.