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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • Hong Kong mogul sells loss-making Taiwan TV arm Tuesday, 2 Oct 2012 | 1:22 AM ET

    TAIPEI, Taiwan-- Hong Kong media mogul Jimmy Lai announced Tuesday he will sell his prized Taiwan television business, best known for its fanciful animated takes on political and celebrity scandals, because of big financial losses.

  • Australia lowers key interest rate to 3.25 percent Tuesday, 2 Oct 2012 | 1:15 AM ET

    SYDNEY-- Australia's central bank cut its benchmark interest rate by a quarter percentage point Tuesday as a slowdown in China's economy and persistent weakness in Europe adds to uncertainty about Australia's economic outlook.

  • India's Kingfisher halts flights for 3 days Tuesday, 2 Oct 2012 | 1:10 AM ET

    MUMBAI, India-- Kingfisher Airlines has grounded flights for at least three days after a violent strike over unpaid wages at the cash-strapped Indian carrier. Chief executive Sanjay Aggarwal met with India's airline regulator Tuesday. Aggarwal said half of Kingfisher's employees received their salary for March 2012, though he forfeited his.

  • Oil near $92 after US manufacturing improves Tuesday, 2 Oct 2012 | 1:05 AM ET

    BANGKOK-- Oil prices dwelled near $92 a barrel Tuesday in Asia after a report showed U.S. manufacturing rose in September for the first time in four months. Benchmark oil for November delivery was down 17 cents to $92.31 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.

  • Diamondback Energy prices IPO Tuesday, 2 Oct 2012 | 12:58 AM ET

    MIDLAND, Texas-- Diamondback Energy Inc. said Tuesday that it plans to sell 12.5 million shares in its business for between $17 and $19 per share in an initial public offering of the oil and gas company.

  • News Summary: Vanguard switches fund benchmarks Tuesday, 2 Oct 2012 | 12:56 AM ET

    BENCHMARK SWITCH: The Vanguard Group has negotiated lower cost index-licensing deals that will result in 22 of its index mutual funds switching to new benchmarks, and adjusting stock holdings accordingly. NEW PARTNERS: The funds currently track indexes, or groups of stocks in certain market segments, licensed from the firm MSCI.

  • AFL-CIO endorses boycott of American Crystal Sugar Tuesday, 2 Oct 2012 | 12:56 AM ET

    WASHINGTON-- The AFL-CIO has endorsed a nationwide consumer boycott of American Crystal Sugar products to protest its 14- month lockout of union workers.

  • Gambling exec: US needs Internet poker regulations Tuesday, 2 Oct 2012 | 12:56 AM ET

    LAS VEGAS-- Brick-and-mortar casinos are opening in Ohio and Illinois. Voters in Oregon, Rhode Island and Maryland will vote on gambling initiatives Nov. 6.

  • Survey: Confidence slips among Mass. employers Tuesday, 2 Oct 2012 | 12:55 AM ET

    BOSTON-- A monthly index measuring confidence among Massachusetts employers has slipped a bit after showing improvement for two consecutive months.

  • Spain PM: Bailout request is not imminent Tuesday, 2 Oct 2012 | 12:51 AM ET

    MADRID-- Spain's prime minister denied Tuesday that he was ready to request a bailout for the country, fending off mounting speculation that a move to ask the European Central Bank to buy Spanish bonds and push down the nation's high borrowing costs was near.

  • Aruba Networks delays 2012 filing, stock falls Tuesday, 2 Oct 2012 | 12:44 AM ET

    NEW YORK-- Shares of Aruba Networks fell more than 7 percent on Tuesday after the company delayed the filing its full-year results because of internal control issues.

  • Oil slightly higher amid economic questions Tuesday, 2 Oct 2012 | 12:42 AM ET

    Benchmark oil rose 13 cents Tuesday to $92.61 per barrel in New York. Brent crude, which is used to price international varieties of oil, fell 29 cents to $111.90 per barrel in London. At the pump, the national average for gasoline was unchanged at $3.78 per gallon, according to AAA, Wright Express and the Oil Price Information Service.

  • *List of Vanguard index funds switching benchmarks Tuesday, 2 Oct 2012 | 12:37 AM ET
  • Celgene edges higher on Abraxane melanoma study Tuesday, 2 Oct 2012 | 12:35 AM ET

    SUMMIT, N.J.-- Shares of Celgene Corp. rose Tuesday after the company said its cancer drug Abraxane slowed the progression of melanoma in a late-stage clinical trial. Celgene said patients who were treated with Abraxane had greater progression-free survival than patients who were treated with the chemotherapy drug dacarbazine.

  • Holiday sales seen rising 4.1 percent in 2012 Tuesday, 2 Oct 2012 | 12:08 AM ET

    NEW YORK-- Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop `til they drop like they have been in the past two years.

  • LDK Solar says lenders give shareholder more time Tuesday, 2 Oct 2012 | 12:06 AM ET

    NEW YORK-- Chinese solar equipment maker LDK Solar says lenders to its controlling shareholder won't sell loan-related collateral for a year. That gave lenders the right to sell the collateral, which includes shares of LDK Solar.

  • Stocks sink on mixed economic signals Tuesday, 2 Oct 2012 | 12:05 AM ET

    The country's largest fertilizer company, Mosaic, said weak demand from China and India weighed on its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. Shortly before noon, the Dow Jones industrial average was down 75 points at 13,439. Dupont led the Dow lower, sinking 1.8 percent, or 84 cents, to $49.52.

  • Rdio to pay artists $10 per new subscriber Tuesday, 2 Oct 2012 | 12:03 AM ET

    LOS ANGELES-- Music subscription service Rdio is looking to dispel the notion that streaming services underpay artists for their work. Starting Tuesday, it will start paying musicians $10 for every person they convince through social media to sign up for an Rdio plan. For $10 a month, they allow users to stream an unlimited number of songs on mobile devices.

  • NRF: Holiday sales to rise 4.1 percent in 2012 Tuesday, 2 Oct 2012 | 12:02 AM ET

    NEW YORK-- Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop `til they drop like they have been in the past two years.

  • Feds throw support behind lawsuit against JPMorgan Tuesday, 2 Oct 2012 | 12:02 AM ET

    WASHINGTON-- The federal government on Tuesday threw its support behind a lawsuit against JPMorgan Chase accusing Bear Stearns, the investment bank JPMorgan bought in 2008, of engaging in massive fraud in deals involving billions in residential mortgage-backed securities. Bear Stearns was sold to JPMorgan Chase in 2008..