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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • World stocks rise on US, China recovery signs Thursday, 18 Oct 2012 | 5:17 AM ET

    BANGKOK-- Stock markets rose Thursday after an unexpectedly strong U.S. housing report renewed confidence in the world's biggest economy and the latest data from China suggested the worst of its slump is over.

  • Merkel backs calls for budget control Thursday, 18 Oct 2012 | 4:12 AM ET

    BERLIN-- German Chancellor Angela Merkel is endorsing a proposal for a top European Union official to be given the power to veto member countries' budgets, and is suggesting the bloc could set up a fund to finance projects in struggling countries. Merkel addressed Germany's Parliament ahead of an EU summit starting Thursday.

  • Russian govt downplays Rosneft expansion concerns Thursday, 18 Oct 2012 | 3:08 AM ET

    MOSCOW-- Russia on Thursday downplayed concerns that Rosneft's possible purchase of BP's stake in the joint venture TNK-BP, which analysts say would reshape the country's oil industry and create the world's biggest oil and gas company, is likely to threaten competition.

  • First oil nears for Kazakhstan's supergiant field Thursday, 18 Oct 2012 | 3:03 AM ET

    KASHAGAN OILFIELD, Kazakhstan-- The manmade islands that are home to Kazakhstan's mammoth Kashagan oilfield project rise like a mirage to the boats churning through the shallow waters of the Caspian Sea. When surveyors confirmed in 2000 that Kazakhstan had a new supergiant oil reserve, the world's energy companies reacted with glee.

  • Emerging markets give Nestle a Q3 sales boost Thursday, 18 Oct 2012 | 3:01 AM ET

    GENEVA-- Strong growth in emerging markets helped Swiss food and drink giant Nestle SA post an 11 percent increase in sales for the first nine months of 2012.. The Vevey- based group said Thursday that sales rose to 67.6 billion Swiss francs through September, up from 60.9 billion francs in the same period last year.

  • Feds: NYC terror sting suspect picked hard target Thursday, 18 Oct 2012 | 2:49 AM ET

    NEW YORK-- A Bangladeshi man snared in an FBI terror sting considered targeting a high-ranking government official and the New York Stock Exchange before authorities say he raised the bar by picking one New York City's most fortified sites: The Federal Reserve.

  • Akzo Nobel reports $3.11B loss in third quarter Thursday, 18 Oct 2012 | 2:43 AM ET

    AMSTERDAM-- With its new CEO on an extended sick leave, Dutch chemicals conglomerate Akzo Nobel NV reported Thursdsay a 2.37 billion loss in the third quarter after taking a massive impairment charge on its home paints business.

  • Oil steady near $92 as supplies, China weighed Thursday, 18 Oct 2012 | 2:01 AM ET

    BANGKOK-- Oil prices were nearly unchanged Thursday in Asia as traders weighed signs of economic recovery in China against an increase in U.S. crude supplies. Benchmark oil for November delivery was up 4 cents at $92.16 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

  • Chinese firm says US rejection deters investment Thursday, 18 Oct 2012 | 1:54 AM ET

    BEIJING-- The Chinese company suing President Barack Obama for blocking its planned wind farm projects in Oregon accused the U.S. leader and his government of discrimination Thursday and warned that the case would deter Chinese investment in the United States.

  • Nestle posts 11 percent increase in 3Q sales Thursday, 18 Oct 2012 | 1:40 AM ET

    GENEVA-- Buoyed by growth in emerging markets, Swiss food and drink giant Nestle SA on Thursday posted an 11 percent increase in sales for the first nine months of 2012..

  • Asia stocks rise on US, China recovery signs Thursday, 18 Oct 2012 | 1:30 AM ET

    BANGKOK-- Asian stock markets rose Thursday after an unexpectedly strong U.S. housing report renewed confidence in the world's biggest economy and the latest data from China suggested the worst of its slump is over.

  • Europe's leaders to focus on strengthening banks Thursday, 18 Oct 2012 | 1:02 AM ET

    BRUSSELS-- European leaders are gathering again in Brussels to discuss how to save the euro currency from collapse and support countries facing too much debt and not enough growth. The leaders of the 27 countries that make up the European Union will discuss how to support their banks, one part of the crisis.

  • Isis trading halts as FDA reviews key drug's risks Thursday, 18 Oct 2012 | 12:58 AM ET

    Drug developer Isis Pharmaceuticals Inc. and partner Genzyme said Thursday a panel of advisers to the Food and Drug Administration had voted 9 to 6 to recommend approval of Kynamro, for treating patients genetically predisposed to have sky-high LDL, or bad cholesterol. The FDA is not bound to follow recommendations of its advisers, but usually does so.

  • Tracing odds on next TV show to get the ax Thursday, 18 Oct 2012 | 12:57 AM ET

    NEW YORK-- Watch out, Fox. Less than four weeks into the new season, CBS' "Made in Jersey" is already swimming with the fishes, and NBC announced on Thursday that the comedy "Animal Practice" will be out the door next month. Site founder Bill Gorman, asked to go out on a limb, predicted "The Mob Doctor" on Fox would be the next to disappear _ but NBC beat him to the punch.

  • Shoe Carnival CEO retiring, exec replacing him Thursday, 18 Oct 2012 | 12:52 AM ET

    EVANSVILLE, Ind.-- Citing health reasons, Shoe Carnival CEO and President Mark Lemond is retiring from the footwear and accessories company after 16 years leading it. The company's executive vice president and CFO, W. Kerry Jackson, will in addition become its chief operating officer, Shoe Carnival Inc. said Thursday. Shoe Carnival has 347 stores in 32 states.

  • Marriott Vacations posts 3Q net income, revenue up Thursday, 18 Oct 2012 | 12:51 AM ET

    ORLANDO, Fla.-- Timeshare company Marriott Vacations Worldwide Corp. reported a slim profit on higher revenue in the third quarter and raised its forecast for the year on strength in its North American operations.

  • GM wins dismissal of lawsuit over Einstein image Thursday, 18 Oct 2012 | 12:43 AM ET

    DETROIT-- A federal judge in California has dismissed a lawsuit challenging the use of Albert Einstein's image in a magazine ad by General Motors. The Detroit News says the Hebrew University of Jerusalem filed the lawsuit against GM. Information from: The Detroit News, http://detnews.com/.

  • Romney ad advantage doesn't tell the whole story Thursday, 18 Oct 2012 | 12:42 AM ET

    An Associated Press analysis of presidential campaign advertising data from April through last week found that pro-Romney spending has exceeded pro-Obama ad spending by at least $65 million across the nine states expected to decide the election: Colorado, Florida, Nevada, New Hampshire, North Carolina, Ohio, Virginia, Iowa and Wisconsin.

  • SAfrica miners reject Zuma's plea to end strike Thursday, 18 Oct 2012 | 12:39 AM ET

    FOCHVILLE, South Africa-- Ernest Morake shook his head and laughed when he heard that South Africa's president wanted striking miners to return to work. In a speech on the state of the economy on Wednesday, Zuma said wildcat strikes were damaging South Africa's economy and asked striking miners to immediately return to work.

  • BioTime makes offer for Geron stem cell assets Thursday, 18 Oct 2012 | 12:36 AM ET

    In a letter to Geron shareholders, BioTime suggests two deals that would form a new publicly traded company owning Geron's stem cell assets with some of BioTime's. It said Geron could have a stake of up to 45 percent in the company, which would also hold $40 million in BioTime stock along with shares of some BioTime stem cell subsidiaries.