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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • About the issue: China Wednesday, 3 Oct 2012 | 9:10 PM ET

    The United States accuses China of flouting trade rules and undervaluing its currency to helps its exporters. Many U.S. companies outsource production to China. One study estimated that between 2001 and 2010, 2.8 million U.S. jobs were lost or displaced to China.

  • News Summary: HP's outlook disillusions investors Wednesday, 3 Oct 2012 | 9:08 PM ET

    MORE TROUBLE AHEAD: Hewlett-Packard Co. CEO Meg Whitman told analysts Wednesday that things are going to get worse before they get better at the ailing Silicon Valley pioneer.

  • Low-cost flying arrives in luxury-loving Japan Wednesday, 3 Oct 2012 | 8:45 PM ET

    NARITA, Japan-- Japan has a reputation for loving expensive things like overpriced real estate, gourmet melons and luxury brands. Ticket prices are plunging by about half, to 16,000 yen trips to the southwestern resort island of Okinawa or a 5,000 yen hop to Seoul.

  • Police seize more than 600 barrels of maple syrup Wednesday, 3 Oct 2012 | 8:44 PM ET

    KEDJWICK, New Brunswick-- Police in Canada have seized more than 600 barrels of maple syrup in New Brunswick as part of an investigation into the theft of millions worth of syrup in Quebec and are transporting it back to Quebec under police protection, officials said Wednesday.

  • Shell starts exploratory drilling in Beaufort Sea Wednesday, 3 Oct 2012 | 8:38 PM ET

    ANCHORAGE, Alaska-- Shell Oil says it has begun exploratory drilling in the Beaufort Sea off Alaska's north coast as it continues to drill in the neighboring Chukchi Sea. Shell Alaska spokesman Curtis Smith says Beaufort drilling started Wednesday after the end of an Alaska Native whale hunt.

  • Fla. gov. says state needs more water from Georgia Wednesday, 3 Oct 2012 | 8:21 PM ET

    EASTPOINT, Fla.-- Florida's oyster industry appears near collapse and needs help to survive, including getting more fresh water into Apalachicola Bay from Georgia, Gov. Rick Scott said Wednesday in pledging to try to help.

  • Fla. gov. trying to save dying oyster industry Wednesday, 3 Oct 2012 | 7:40 PM ET

    Rick Scott says the state's oyster industry appears near collapse and needs help to survive. He says that includes getting more fresh water coming into Apalachicola Bay from Georgia. Florida has battled for years over the amount of water coming downstream from Georgia.

  • Hershey vows to use only certified cocoa by 2020 Wednesday, 3 Oct 2012 | 7:10 PM ET

    PHILADELPHIA-- Candy maker Hershey is vowing to use only certified cocoa for all of its chocolate products by 2020 and accelerate programs to help eliminate child labor in the cocoa-producing regions of West Africa.

  • California wades into national labor debate Wednesday, 3 Oct 2012 | 6:59 PM ET

    The battle over Proposition 32 on the November ballot follows conflicts in Wisconsin, Ohio, Indiana and elsewhere where efforts to dilute the strength of organized labor have produced political tumult, a flood of TV ads and widespread demonstrations.

  • Ocwen to buy Homeward Residential for $750 million Wednesday, 3 Oct 2012 | 6:27 PM ET

    ATLANTA-- Loan servicing company Ocwen Financial Corp. said Wednesday that it is buying Homeward Residential Holdings Inc. in a $750 million deal. Ocwen is buying the loan servicing company from private equity firm WL Ross& Co. LLC for $588 million in cash and $162 in Ocwen convertible preferred stock.

  • 3M ends $550M bid for Avery Dennison office unit Wednesday, 3 Oct 2012 | 6:19 PM ET

    NEW YORK-- 3 M Co. is ending its effort to buy Avery Dennison Corp.' s office and consumer products business, which would have given the company a huge portion of the U.S. labels market to go with its Post-It sticky notes business. 3 M agreed to buy the business in January for $550 million.

  • NuVasive cuts 3Q revenue outlook and stock sinks Wednesday, 3 Oct 2012 | 6:13 PM ET

    NEW YORK-- Orthopedic device maker NuVasive Inc. forecast disappointing third-quarter revenue on Wednesday, and its shares plunged in after-hours trading. NuVasive said it expects about $147 million in revenue in the third quarter. Shares of NuVasive dropped $5.63, or 24.9 percent, to $16.99 in late trading.

  • News Summary: US gas prices lower except on coasts Wednesday, 3 Oct 2012 | 6:11 PM ET

    PUMPED UP: Refinery and pipeline problems have shrunk gasoline supplies and driven up prices on both coasts. DOWN THE ROAD: Analysts predict average prices will be $3.50 per gallon or lower by Thanksgiving for most of the country. On the West Coast, the price is expected to be closer to $4 per gallon.

  • FDA: Ind. farm tied to salmonella outbreak unclean Wednesday, 3 Oct 2012 | 6:09 PM ET

    On Aug. 22, about a week after the FDA inspections, Chamberlain Farm Produce announced it had voluntarily recalled all of its cantaloupes due to concerns that some might be tainted with salmonella.

  • News Summary: T-Mobile, MetroPCS unite Wednesday, 3 Oct 2012 | 6:08 PM ET

    CONNECTED: T-Mobile and MetroPCS have agreed to combine their struggling cellphone businesses in a deal aimed at letting them compete better with their three larger rivals. MetroPCS shareholders will own the rest. :The combined company will stay No. 4 among U.S. wireless carriers behind Verizon Wireless, AT&T and Sprint Nextel.

  • American Airlines, pilots resume contract talks Wednesday, 3 Oct 2012 | 6:08 PM ET

    FORT WORTH, Texas-- American Airlines is making a peace offering to its pilots as the two sides resume contract talks. The changes could amount to "a few percentage points" of pay for about one-third of the union's members, said Allied Pilots Association spokesman Gregg Overman. AMR Corp.' s American Airlines and the union agreed to resume contract talks this week.

  • News Summary: American Airlines loses union ruling Wednesday, 3 Oct 2012 | 6:05 PM ET

    CLEARED FOR TAKEOFF: A federal appeals court overturned a ruling that would have blocked a union election for passenger-service agents at American Airlines. The Communications Workers of America wants to represent them in contract bargaining with the company. National Mediation Board, 12-10680 at the 5th U.S. Circuit Court of Appeals in New Orleans.

  • NY judge gives poker money man jail for bank fraud Wednesday, 3 Oct 2012 | 6:04 PM ET

    Las Vegas resident Chad Elie, 32, was sentenced by U.S. District Judge Lewis A. Kaplan, who also ordered him to forfeit $500,000. The judge rejected a recommendation by the federal Probation Department that Elie be sentenced to probation, six months of home confinement and community service.

  • News Summary: Marriott turns 3Q profit on prices Wednesday, 3 Oct 2012 | 5:28 PM ET

    CHECKING IN: Marriott turned a better-than-expected profit despite a slow global economy in the third quarter on higher prices and strong occupancy rates across its brands. Marriott said higher occupancy rates led to less last-minute discounts, which help boost rates.

  • Demolition on hold for Wright house in Phoenix Wednesday, 3 Oct 2012 | 5:26 PM ET

    PHOENIX-- The city of Phoenix and a developer who was poised to demolish a Frank Lloyd Wright- designed home have reached an agreement that will put any work on hold while a search continues for a buyer, a city official confirmed Wednesday.