Ireland’s cost of borrowing hit a record-low on Tuesday, as investors mulled whether bonds from weaker euro zone countries were overpriced.» Read More
FRANKFURT, Oct 23- German drugmaker Bayer said its experimental riociguat pill could become the first treatment option for some patients suffering from a life-threatening form of high blood pressure in the lungs.
*DuPont, 3 M, United Tech, UPS miss revenue forecasts. *DuPont, 3 M Co cut profit forecasts.
*Moody's downgrades Spanish regions including Catalonia. Moody's Investors Service downgraded five of Spain's regions, including the heavily indebted Catalonia by one or two notches, citing those areas' limited cash and upcoming debt repayments. The downgrade undermined earlier optimism after Moody's upheld Spain's investment-grade rating last week.
NEW YORK, Oct 23- Rosneft will eclipse the Western supermajors in crude output once the Russian state-controlled oil producer takes over rival TNK-BP, but despite its size, the company will hardly punch its weight in energy trading.
BUENOS AIRES, Oct 23- Flooding in Argentina's Pampas grains belt has allowed fungus-based diseases to attack wheat crops already hobbled by scant planting while more wet weather puts off soy and corn seeding until next week, analysts said on Tuesday.
MADRID, Oct 23- The Spanish subsidiary of Mexico's top cement maker Cemex mulls cutting about one-fifth of its workforce in Spain, a trade union official told Reuters on Tuesday.
December crude fell $1.98, or 2.23 percent, to settle at $86.67 a barrel, having traded from $85.69 to $89.29.
*Boeing to meet airlines on large-jet needs. Jean-Marc Ayrault, who has just returned from Singapore and Philippines to help drum up business for French companies, told Airbus workers his trip had highlighted the importance of remaining competitive on world export markets.
BRUSSELS, Oct 23- European Union countries will examine a plan this week to allow the ECB to supervise banks in states outside the euro zone alongside those within the currency area, according to an EU document that lays down limits on the central bank's role.
*Spanish debt yields rise as Moody's downgrades 5 regions. NEW YORK, Oct 23- The euro tumbled against the yen and hit a one-week low versus the dollar on Tuesday as concerns about a global economic slowdown and a spike in Spain's borrowing costs spurred broad-based risk aversion.
NEW YORK- Global shares slide more than 1 percent and the euro falls as a slew of weak U.S. corporate earnings results and credit rating downgrades of several indebted regions of Spain triggered a new round of fears over the global economy (MARKETS-GLOBAL/, moving shortly, by Angela Moon, 1,050 words).
*DuPont's earnings forecast, job cuts weigh on oil. Chemical company DuPont lowered its earnings forecast, announced 1,500 job cuts and posted lower-than-expected profit, helping push equities, oil and other commodities lower.
*DuPont drops sharply on results, UTX modestly lower. *Apple pares losses after new iPad launch. Multinationals including DuPont and United Technologies fell short of Wall Street's revenue expectations, amplifying worries about the health of the global economy.
The Dow Jones industrial average posted its biggest point drop since June, shedding about 220 points, as large multinational companies including Dupont and United Technologies reported disappointing profits and earnings outlook.
*Gazprom's exports to Europe set to fall this year. BOVANENKOVO/NOVO-OGARYOVO, Russia, Oct 23- P resident Vladimir Putin ordered a rethink of Russia's natural gas export policy to take advantage of rising Asian demand, as giant producer Gazprom launched a huge Arctic field to supply Europe, where demand is falling.
BUENOS AIRES, Argentina-- Argentina's Merval stock market index dropped Tuesday after the government announced new economic controls, including a mandate that insurance companies sharply increase their investing inside Argentina.
MIDLAND, Mich.-- The Dow Chemical Co. will eliminate about 2,400 jobs and close roughly 20 manufacturing facilities as part of a restructuring plan aimed at coping with slowing economic growth in Europe and elsewhere.
*DuPont, 3 M, United Tech, UPS miss revenue forecasts. *DuPont, 3 M Co cut profit forecasts. DuPont and United Tech are by no means the only big U.S. companies to begin cutting jobs.
NEW YORK, Oct 23- AK Steel Holding Corp might be interested in the two steel mills in Brazil and the United States that Germany's ThyssenKrupp has put up for sale, the U.S. company's chief executive said on Tuesday.
LONDON, Oct 23- BAE Systems' biggest shareholder Invesco will need to drum up more support from other investors to force out senior board members at the UK defence firm after its failed $45 billion merger with aeroplane maker EADS.