CNBC contributor Larry McDonald, and Dennis Gartman, The Gartman Letter, discuss how broader economic sanctions will impact the Russian economy and citizens, and if now is the time to buy Russia.» Read More
*Albania angry with CEZ unit for not importing power. CEZ Shperndarje holds a monopoly on power distribution to 1.1 million homes in Albania and is bound by law to use imports to make up for any power losses- from technical faults or theft- in its grid in the hydro-dependant Balkan nation.
MILAN, Oct 2- Fashion designer Giorgio Armani is taking direct control of his sales business in Britain to improve efficiency in the retail sector, which has become a revenue-spinner for luxury makers amid economic turmoil.
By Chris Reese and Ana Nicolaci da Costa ADVISORY- Reuters plans to discontinue its daily report on the money markets in New York as of Oct. 15. NEW YORK/ LONDON, Oct 2- The U.S. Treasury sold $40 billion of four-week bills at a high rate of 0.1 percent, up from 0.055 percent in a similar sale last week and the highest since a four-week bill auction on Sept. 5.
Reinsurers sold $3.8 billion of protection through the credit default swap market last year, down sharply from a peak of $20.3 billion in 2003, the International Association of Insurance Supervisors said in a report.
*Brazil's Somar: flowering bodes well for 2013 coffee crop. NEW YORK/ LONDON, Oct 2- Arabica coffee futures soared nearly 4 percent to a 10- week high on Tuesday, on heavy short-covering prompted by concerns of dry weather in top grower Brazil, while raw sugar extended the previous session's steep gains.
--Group 1 Automotive Inc.' s credit measures, in our opinion, have the potential for continued modest improvement in the year ahead. --We are revising our' BB' rating outlook on Group 1 to positive from stable. Rating Action On Oct. 2, 2012, Standard& Poor's Ratings Services revised its rating outlook on Houston- based automotive retailer Group 1 Automotive Inc..
Benchmark oil slipped 19 cents to $92.20 per barrel in New York. Brent crude, which is used to price international varieties of oil, fell 36 cents to $111.83 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.
LONDON, Oct 2- Mobile operators in Britain will be able to roll out 4 G services to the vast majority of the country in the first half of next year, or six months earlier than previously estimated, the government said on Tuesday. A statement from Culture Secretary Maria Miller after a meeting with mobile operators said the move was aimed at spurring growth.
LONDON, Oct 2- Somalia, hoping to share in East Africa's oil and gas boom, has invited back international oil companies that held exploration licences before civil war broke out two decades ago, an adviser to the government said.
Oct 2- Fitch Ratings has affirmed the' AA' Insurer Financial Strength ratings of Factory Mutual Insurance Company and its affiliates. The Rating Outlook is Stable.
By Guy Faulconbridge and Matt Falloon. MANCHESTER, England, Oct 2- Britain's opposition leader Ed Miliband cast himself as a humble man of the people on Tuesday in a confident speech, seeking to win over doubters and portray Prime Minister David Cameron as the product of a snobby education who has hurt the economy.
Mosaic, Dupont and stocks of other companies in the materials industry fell. Dupont led the Dow lower, sinking $1.02 to $49.34. Spain needs to ask for money from Europe's bailout fund before the European Central Bank can start buying its government bonds.
LONDON, Oct 2- Carlyle is set pay itself a 260 million pound dividend from UK roadside rescue business RAC, in a move that could encourage other private equity firms to follow suit after buyout deals dropped to the lowest since 2009..
The monthly manufacturing survey from the Institute for Supply Management on Monday pointed to an improvement. In Europe markets ended the day slightly lower. The FTSE 100 index was down 0.19 percent at 5,809 while Germany's DAX was off 0.28 percent at 7,305. The CAC-40 in France was 0.6 lower higher at 3,414..
This raises serious questions about the near-term economic viability of the low-carbon technology in which Germany and Britain, among others, are setting such store.
Oct 2- Plastic packaging maker RPC Group Plc. said Ron Marsh, its chief executive of 19 years, would retire on Oct. 1, 2013. RPC shares were down marginally at 426.35 pence at 0345 GMT on Tuesday on the London Stock Exchange.
PARIS, Oct 2- European luxury stocks, once a must-have for portfolio managers seeking to avoid the European economic doldrums and get exposure to surging China sales, are falling out of favour, hit by concerns about slowing growth there.
LONDON-- It was a meeting of the two most famous British people on the planet: Queen Elizabeth II turned to her tuxedo-wearing guest and said, "Good evening, Mr. It introduced a dapper but deadly secret agent who wore Savile Row suits, drove an Aston Martin, liked his martinis shaken, not stirred, and announced himself as "Bond, James Bond."
Markets' eyes are currently trained on Moody's to see whether it strips Spain of its investment grade status as Madrid struggles with cash-strapped regions, an ailing bank system and rising debt refinancing costs.
LONDON, Oct 2- European shares fell on Tuesday, weighed by weakness in basic resources stocks on concern about the outlook for global growth. "The real key to create confidence is positive earnings surprises, positive economic data surprises," Philip Isherwood, European strategist at Absolute Strategy Research, who is' overweight' on stocks.