U.S. cancer drug company Medivation is discussing opening its books to Sanofi, people familiar with the matter said on Tuesday. » Read More
*Denies report of Opel talks. MILAN, Oct 30- Fiat sharply cut its group targets for the next two years on Tuesday, saying languishing sales in austerity-hit Europe may mean its trading profit in 2014 is a third lower than it targeted two years ago.
NEW YORK, Oct 30- U.S. gasoline and heating oil futures slid on Tuesday, pulling back from pre-Hurricane Sandy gains as several key East Coast refineries and pipelines restored operations and traders bet on an enormous hit to demand for fuel.
*Saks, Macy's hope to open in New York City on Wednesday. *Wal-Mart says holiday plans intact. Luxury department store Saks Inc said it would reopen on Tuesday three of the stores that it had to close because of Sandy, including stores in greater Washington and Philadelphia.
Oct 30- DineEquity Inc, the owner of Applebee's and IHOP restaurant brands, on Tuesday reported third-quarter earnings that beat Wall Street expectations, helped by a gain on the sale of restaurants to franchisees. In recent weeks, chains such as McDonald's Corp, Chipotle Mexican Grill Inc and Buffalo Wild Wings Inc have posted disappointing results.
*Argentina to fight judicial decision. BUENOS AIRES, Oct 30- Argentina's economy minister blasted a U.S. court ruling that would force the country to repay creditors who have sued to collect on defaulted Argentine bonds, saying the country will never pay the ``vulture funds.''.
WASHINGTON, Oct 30- Fannie Mae and Freddie Mac on Tuesday extended their disaster-relief policies to borrowers whose homes were damaged by Hurricane Sandy.
BERLIN, Oct 30- Global economic recovery remains uncertain, making budget and structural reform necessary to revive growth, Germany said in a joint statement with the IMF and OECD on Tuesday.
*Fourth-quarter charge of $900 million to $1.1 billion. Oct 30- Dow Chemical Co will take a fourth-quarter charge of as much as $1.1 billion related to last week's announcement that it will close 20 plants, write down the value of its lithium ion battery business and lay off thousands of workers.
*NYSE, Nasdaq OMX testing trading systems on Tuesday. NYSE Euronext said the New York Stock Exchange would open, although it would switch to fully electronic trading if necessary. Lower Manhattan, where Wall Street and the NYSE are located, lost power on Monday after being buffeted by Sandy, the worst storm to hit New York since at least 1938..
LONDON, Oct 30- Imperial Tobacco has taken a 1.2 billion-pound writedown on its Spanish business as the impoverished country's smokers turn to cheaper black market cigarettes.
*Camden International says its 9 cocoa warehouses not damaged by storm. NEW YORK/ LONDON, Oct 30- Arabica coffee futures turned lower on Tuesday, giving back the previous session's gains, as many traders believed exchange stocks in U.S. East Coast warehouses were unscathed by Hurricane Sandy, one of the biggest storms ever to hit the region.
*European Commission conducting parallel investigation. WASHINGTON, Oct 30- Japanese auto parts maker Tokai Rika Co Ltd has agreed to plead guilty to conspiring to fix the prices of auto heating components and to pay a fine of $17.7 million, the U.S. Justice Department said on Tuesday.
NEW YORK, Oct 30- The euro rallied against against the dollar and yen on Tuesday after data showed the Spanish economy contracted slightly less than expected in the third quarter and Italy's borrowing costs fell at a sale of five- and ten-year debt.
LONDON, Oct 30- UBS's retreat from lucrative fixed income markets around the world is unlikely to be followed by its rivals, although rising costs and tougher regulations make more deep cuts at other banks inevitable.
*Adoboli says trading losses made him catatonic. LONDON, Oct 30- Former UBS trader Kweku Adoboli told a London court on Tuesday he ``lost control'' in the summer of 2011 but insisted he never acted dishonestly in the frantic weeks that resulted in losses of $2.3 billion.
NEW YORK, Oct 30- The U.S. stock market was closed for a second straight day on Tuesday as cash equity trading was canceled in the wake of Hurricane Sandy. NYSE Euronext said the New York Stock Exchange would open, although it will switch to fully electronic trading if necessary.
LONDON, Oct 30- Reassuring business updates from oil major BP and several major banks lifted European shares on Tuesday, with a key European equity index reaching its highest in more than a week.
LONDON, Oct 30- Dozens of UBS traders spent their day in the pub rather than at the Swiss bank's London headquarters after they found out that their security passes no longer worked. As more turned up for work queues began to form at the bank's doors until some took refuge instead in the Railway Tavern pub nearby.
DETROIT, Oct 30- Chrysler Group LLC Chief Executive Sergio Marchionne reaffirmed on Tuesday that the company is not moving Jeep vehicle production out of the United States to China after it became an issue in the U.S. presidential campaign.
*Brazil's top bookseller may sell online business-sources. *Deal could boost retailer Amazon on arrival in Brazil. SAO PAULO, Oct 30- Brazil's biggest bookstore chain, Saraiva, is trying to sell its online business, a move that could pave the way for Amazon's debut in Latin America's fastest growing e-commerce market, industry sources said.