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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • *Boeing climbs after earnings, outlook. NEW YORK, Oct 24- U.S. stock index futures advanced on Wednesday and pointed to a higher open, after data from China and Boeing provided temporary relief to a slumping market, and following declines Tuesday when the Dow suffered its biggest drop in four months.

  • Fact sheet: 2013 Subaru XV Crosstrek Wednesday, 24 Oct 2012 | 1:15 PM ET

    2013 Subaru XV Crosstrek 2.0 i Premium CVT. BASE PRICE: $21,995 for Premium with manual; $22,995 for Premium with CVT. OPTIONS: Moonroof plus navigation option package $2,000.

  • Discovery Labs shares sink, Surfaxin faces delay Wednesday, 24 Oct 2012 | 1:15 PM ET

    NEW YORK-- Shares of Discovery Laboratories Inc. sank Wednesday after the drug developer said the availability of a new treatment for respiratory distress syndrome may be delayed until next year's second quarter. Discovery said it has started a plan to improve the method, and it will submit the updated specifications to the Food and Drug Administration.

  • Panel: Pregnant women, get whooping cough shot Wednesday, 24 Oct 2012 | 1:12 PM ET

    ATLANTA-- An expert panel is urging every expecting mother to get a shot preventing whooping cough, preferably in the last three months of her pregnancy to help protect her baby. The advice follows a frightening resurgence of the dreaded childhood disease.

  • News Summary: Prison, $7B fine for rogue trader Wednesday, 24 Oct 2012 | 1:11 PM ET

    THE SENTENCE: The Paris appeals court on Wednesday ordered former Societe Generale trader Jerome Kerviel to spend three years in prison and pay back a staggering 4.9 billion in damages for one of the biggest trading frauds in history.

  • Owens Corning 3Q falls short Wednesday, 24 Oct 2012 | 1:11 PM ET

    TOLEDO, Ohio-- Owens Corning reported a drop in its third-quarter profit on Wednesday due to lower demand for roofing and composites. Owens Corning earned $44 million, or 37 cents per share, for the quarter that ended Sept. 30 versus $124 million, or $1.01 per share, in the same quarter last year.

  • Visa hires JPMorgan's Charles Scharf as CEO Wednesday, 24 Oct 2012 | 1:10 PM ET

    Oct 24- Visa Inc said Charles Scharf, a former head of JPMorgan Chase& Co's retail financial services division, will succeed Joseph Saunders as chief executive officer. Scharf, whose appointment is effective Nov. 1, has also been appointed to the payment network's board.

  • Another shift at the top for Patriot Coal Wednesday, 24 Oct 2012 | 1:08 PM ET

    NEW YORK-- The CEO of Patriot Coal is stepping aside less than five months after taking the job. Irl Engelhardt, a long-time executive at Peabody where he served as chairman and director of one of the world's largest coal producers, took over this year just weeks before the troubled Peabody spin-off sought bankruptcy protection.

  • Mover: Panera's shares rise after strong 3Q report Wednesday, 24 Oct 2012 | 1:03 PM ET

    NEW YORK-- Shares of Panera Bread Co. rose Wednesday, after the restaurant operator reported that its third-quarter profit jumped 27 percent, on strong demand for its soups and sandwiches, and the company raised its fourth-quarter and full-year earnings outlook.

  • COLUMN-European biofuel push hard to reverse: Wynn Wednesday, 24 Oct 2012 | 1:03 PM ET

    LONDON, Oct 24- European policymakers are discovering the difficulty of curbing a biofuel industry they weaned five years ago as a low-carbon alternative to crude oil but which is increasingly at odds with the environment and food production. To halt or put into reverse a $22 billion European biofuel industry requires a sound justification.

  • UPDATE 3-Peugeot gets government rescue as crisis deepens Wednesday, 24 Oct 2012 | 1:02 PM ET

    *Peugeot gets state guarantee, close to bank deal. With its costly domestic production and high exposure to southern European markets, Peugeot is bearing the brunt of the region's slump as unemployment and government austerity weigh on consumer spending.

  • FOREX-Euro dragged down by weakening German data Wednesday, 24 Oct 2012 | 11:57 AM ET

    LONDON, Oct 24- The euro fell to a one-week low against the dollar on Wednesday after worse-than-expected German business activity and sentiment data fuelled concerns of weakness in the euro zone's largest economy.

  • UPDATE 1-Iconix to buy Umbro from Nike for $225 million Wednesday, 24 Oct 2012 | 11:56 AM ET

    Oct 24- Iconix Brand Group Inc will buy the Umbro sneaker brand from Nike Inc for $225 million, the companies said on Wednesday. Nike, the world's largest athletic footwear company, said in May that it planned to sell Umbro and Cole Haan to sharpen its focus on its Nike, Jordan, Converse and Hurley brands.

  • UPDATE 1-Nasdaq net falls as trading volumes decline Wednesday, 24 Oct 2012 | 11:56 AM ET

    *3rd- qtr adj profit 62 cents/ share vs Street view 60 cents. Oct 24- Nasdaq OMX Group's third-quarter profit fell 18 percent, due in part to a drop in trading volumes in U.S. and Nordic equities, the exchange operator said on Wednesday. The New York- based company earned $89 million, or 52 cents per share, down from $109 million, or 61 cents per share, a year earlier.

  • *Obama predicts deficit deal, immigration overhaul Wednesday, 24 Oct 2012 | 11:54 AM ET
  • Producing team win rights to stage 'Rear Window' Wednesday, 24 Oct 2012 | 11:54 AM ET

    Producer Charlie Lyons, director Jay Russell and actor Tim Guinee announced Wednesday that their two-year hunt for the rights have been successful and they're hoping to mount the show on Broadway. "Rear Window" is based on a Cornell Woolrich short story, "It Had to Be Murder," that was first published in February 1942 in Dime Detective Magazine.

  • Norfolk Southern shares fall on lower earnings Wednesday, 24 Oct 2012 | 11:54 AM ET

    NEW YORK-- Shares of Norfolk Southern Corp. hit a low for the year Wednesday after the railroad reported a 27 percent drop in third-quarter net income and an analyst downgraded the stock. Norfolk Southern CEO Wick Moorman expects weak coal demand to continue at least into the first half of next year.

  • Lockheed Martin 3rd-qtr profit up, boost guidance Wednesday, 24 Oct 2012 | 11:53 AM ET

    BETHESDA, Md.-- Lockheed Martin Corp. said Wednesday its third-quarter net income rose 4 percent, as lower pension-related costs helped offset a drop in revenue. The results beat Wall Street predictions and the Bethesda, Md.- based aerospace and defense contractor also raised its full-year profit and revenue predictions.

  • U.S. architecture billings rise in September - AIA Wednesday, 24 Oct 2012 | 11:52 AM ET

    NEW YORK, Oct 24- A leading indicator of U.S. construction activity jumped last month, led by demand for new apartment buildings, suggesting U.S. builders and their suppliers may see more work in coming months.

  • 2nd hearing set on bid to unseal Romney testimony Wednesday, 24 Oct 2012 | 11:52 AM ET

    CANTON, Mass.-- A Massachusetts probate judge will hold another hearing Thursday before deciding whether to unseal testimony that GOP presidential candidate Mitt Romney gave in the divorce case of Staples founder Tom Stemberg. Attorneys for Romney and Staples asked the judge for more time to review two booklets of testimony.