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CNBC Utilities Page Latest Business News Wires - Business Headlines

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  • NEW YORK, Sept 4- Crude futures fell about 2 percent on Friday as traders paid little heed to a drop in the number of U.S. rigs drilling for oil and focused instead on a supply glut and declining stock prices on Wall Street. "I get the feeling the longs do not want to wait out the three-day weekend," said Tariq Zahir, a trader in crude oil spreads at Tyche Capital Advisors in...

  • ANKARA, Sept 4- Japanese Finance Minister Taro Aso said on Friday he had communicated at a meeting of Group of 20 finance chiefs in Ankara that China needs to address a range of structural problems, including its bad debts.

  • *Caterpillar falls after broker downgrade. *Microsoft drags down S&P 500. It was an okay jobs report, but there's worry about China going into the weekend, "said John Augustine, chief investment officer, Huntington Trust in Columbus, Ohio.

  • GENEVA, Sept 4- Five former Geneva wealth managers have paid "substantial compensation" to settle criminal complaints brought by clients whose assets they had invested with U.S. fraudster Bernard Madoff, the Geneva prosecutor's office said on Friday. The case was launched in 2009 against five directors of Aurelia Finance, a Geneva- based private bank that...

  • G20-JAPANESE FINANCE MINISTER ASO SAYS HAS COMMUNICATED THAT CHINA NEEDS TO DEAL WITH A RANGE OF STRUCTURAL PROBLEMS, INCLUDING BAD DEBTS.

  • Sept 4- Wall Street's top banks still expect the Federal Reserve to raise interest rates this year, but their conviction around a September hike has decreased notably in the last month due to volatility in global markets, according to a Reuters poll conducted on Friday. By comparison, just 7 dealers now see a rate increase coming this month, whereas 13 had expected...

  • *Iran paid $87 mln for Romanian rig to bypass sanctions. DUBAI, Sept 4- Four years after Iran spent $87 million to buy an oil drilling rig that was never delivered, the broker in the deal has given his side of a story he describes as a cautionary tale for Western investors impatient for an end to sanctions. Over the last several months, "the case of the missing rig" has...

  • LAS VEGAS— A Carson City judge's recent decision about Nevada's two-tier minimum wage law could mean more workers are eligible for the higher $8.25 per hour rate, rather than the $7.25 allowed if the employer provides health insurance. Judge James Wilson last month struck down two portions of Nevada code based on the minimum wage constitutional amendment...

  • LONDON, Sept 4- China's battered stock markets reopen on Monday after a two-day public holiday and before a monthly data dump that could reinforce fears of a hard landing, rattling the global economy. The International Monetary Fund warned Group of 20 finance ministers and central bankers this week that China's slowdown and rising financial market...

  • CAPE CANAVERAL, Fla., Sept 4- Boeing Co took the wraps off an assembly plant on Friday for its first line of commercial spaceships which NASA plans to use to fly crews to the International Space Station starting in 2017, officials said. NASA is paying up to $4.2 billion for a Starliner test flight and up to six missions to the station. NASA previously contributed $621...

  • NEW YORK— Get in your bids fast. The trade publication Advertising Age reported this week that CNN is asking for up to $200,000 for a 30- second ad during the debate, a price comparable to slots in popular entertainment shows on the broadcast networks. Interest was strong among advertisers even before Fox News Channel showed the first debate on Aug. 6, said Allie...

  • WASHINGTON— U.S. hiring is hot in health care and hospitality. Health care and social assistance employers added more than 56,000 jobs in August, led by hospitals and health service providers. The social assistance category, which includes child and elderly care, gained nearly 16,000..

  • TORONTO— The Supreme Court of Canada on Friday dismissed an attempt by oil giant Chevron to block Ecuadorian villagers from using an Ontario court to collect billions in damages over rainforest pollution. The judgment was for environmental damage caused by Texaco during its operation of an oil consortium in the rainforest from 1972 to 1990. Chevron later...

  • The company, owned by private equity firm Apollo Global Management LLC, did not name the underwriters for the IPO in its filing with the U.S. Securities and Exchange Commission. Reuters reported earlier this week that McGraw-Hill Education had hired Credit Suisse Group AG and Morgan Stanley to lead the IPO, which was expected to value the company between $5...

  • Sept 4- Mozilla, creator of the Firefox web browser, said hackers had stolen security-sensitive information from Bugzilla, its bug tracker, and used it to "attack" Firefox users. A version of Firefox, the world's second-largest browser by users, released on Aug. 27 fixed all the vulnerabilities the hacker learned about and could have used to harm its web browser...

  • GUATEMALA CITY, Sept 4- Enough documentary evidence exists to prove former Guatemalan President Otto Perez's involvement in a corruption scandal, the head of a powerful U.N.-backed anti-graft body which helped topple the leader and will scrutinize his wealth said. "We're going to investigate everything," Ivan Velasquez, head of U.N.-backed International...

  • ORANGE, Calif.— Chapman University and Arco say they have reached an out-of-court settlement resolving a lawsuit accusing the oil company of selling property in Orange, California, that was contaminated with toxic chemicals. The Orange County Register reported Friday that Chapman purchased the property in 1998. It was once the site of the city of Orange's...

  • KANSAS CITY, Mo.— The headquarters of Kansas City- based Applebee's Neighborhood Grill and Bar is moving to California. The Kansas City Star reports that a statement from DineEquity Inc., the California company that owns the Applebee's and IHOP chains, said the move to Glendale, California, is aimed at spurring brand growth and developing traditional and...

  • NEW YORK, Sept 4- The dog days of summer turn out to have quite a bite, as investors have been roiled by the longest bout of volatility in U.S. equities in four years. A combination of nerve-wracking events- weak data out of China, uncertainty over the Federal Reserve's plans for raising interest rates, and leveraged bets by hedge funds that went the wrong way resulted...

  • CLEVELAND— A reputed member of New York's Gambino crime family and former son-in-law of John Gotti pleaded not guilty Friday in what authorities say is a multimillion- dollar scam involving scrap metal and stolen cars. Carmine "The Bull" Agnello, of Bentleyville, entered the pleas in Cuyahoga County Common Pleas Court to charges including conspiracy, theft and...