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Latest Business News Wires - Business Headlines

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  • *Job losses mostly in Switzerland, United States, Britain. *Q3 net loss of 2.172 bln Sfr vs Reuters poll 457 mln Sfr. Zurich- based UBS will focus on wealth management and a smaller investment bank, ditching much of the trading business that ran up $50 billion in losses in the financial crisis.

  • Apple in safe hands with bigger role for Ive Tuesday, 30 Oct 2012 | 2:04 PM ET

    Oct 30- The exit of Apple Inc's longtime mobile software products chief may be a surprise, but a band of able executives led by Tim Cook and a bigger role for design boss Jonathan Ive meant the company was in good hands, analysts said on Tuesday.

  • Reuters World News Highlights at 1400 GMT, Oct 30 Tuesday, 30 Oct 2012 | 2:00 PM ET

    NEW YORK- Millions of people across the eastern United States awoke on Tuesday to scenes of destruction wrought by monster storm Sandy, which knocked out power to huge swathes of the nation's most densely populated region, swamped New York's subway system and submerged streets in Manhattan's financial district.

  • NEW YORK Oct 30- At least 7.3 million homes and businesses on the U.S. East Coast were without power on Tuesday after Hurricane Sandy tore down power lines, flooded networks and sparked an explosion at a Consolidated Edison substation on Manhattan's East River.

  • *Dana Gas' $920 mln convertible Islamic bond matures Oct. 31. DUBAI, Oct 30- Dana Gas is set to become the first United Arab Emirates company to fail to pay an Islamic bond on maturity, three sources familiar with the matter said on Tuesday, sending its stock and bond prices sharply lower.

  • *North America earns more $2 bln for three straight quarters. DETROIT, Oct 30- Ford Motor Co on Tuesday posted a third-quarter profit that trounced Wall Street forecasts due to higher vehicle prices and record-high profit margins of 12 percent in North America.

  • FOREX-Yen climbs after BOJ, Italy debt sale lift euro Tuesday, 30 Oct 2012 | 1:46 PM ET

    *Euro up versus dollar as Spain Q3 GDP less bad than feared. NEW YORK, Oct 30- The yen rose broadly on Tuesday after monetary easing steps from the Bank of Japan disappointed investors who had positioned for a more aggressive increase in asset purchases.

  • LONDON/ JOHANNESBURG, Oct 30- South African miner Lonmin, the world's third-largest platinum producer, is to raise $800 million from shareholders to cut debt and finance a recovery after weeks of strikes in which dozens were killed.

  • METALS-Copper up from 2-month low on weak dollar Tuesday, 30 Oct 2012 | 1:43 PM ET

    LONDON, Oct 30- Copper edged up on Tuesday from a near 2- month low hit the previous session, helped by a weaker dollar and as lower prices encouraged some cautious industrial buying, but concerns about soft demand from top consumer China capped gains.

  • Hurricane Sandy disrupts Northeast US telecom networks Tuesday, 30 Oct 2012 | 1:39 PM ET

    *AT&T, T-Mobile USA customers say service is spotty. Sprint Nextel, the No. 3 U.S. mobile provider said it was seeing outages at some cell sites because of the power outages across all the states in Sandy's path including New York, New Jersey, Connecticut, Pennsylvania, Washington DC, Maryland, North Virginia and New England.

  • Oct 30- Hurricane Sandy has already knocked out power to more than 7.3 million homes and businesses along the U.S. East Coast. The following power holding companies have utility units that reported outages on Monday.

  • Oct 30- U.S. Steel Corp's third-quarter profit handily beat analysts' estimates, but the company warned that its current-quarter results would be affected by the global slowdown.

  • UPDATE 1-U.S. home prices climb further in August Tuesday, 30 Oct 2012 | 1:28 PM ET

    NEW YORK, Oct 30- U.S. single-family home prices rose in August, the latest sign that the housing market is on the mend, a closely watched survey showed on Tuesday. S&P 500 futures edged up following the data, but the stock market will be closed for a second day in a row in the wake of a powerful storm that hit the east coast.

  • UPDATE 2-Telefonica Germany shares rise on debut Tuesday, 30 Oct 2012 | 1:23 PM ET

    *Sale to net Telefonica as much as 1.45 bln euros. FRANKFURT/ MADRID, Oct 30- Shares in Telefonica's O2-branded German unit rose over 3 percent on Tuesday following Europe's biggest initial public offering in more than a year, adding to a fledgling recovery in the region's new issues market.

  • *Exelon declares alert at NJ Oyster Creek reactor. *Exelon says no threat to public health or safety. Exelon Corp's 43- year-old New Jersey Oyster Creek plant remains on ``alert'' status, the U.S. Nuclear Regulatory Commission said early Tuesday.

  • LONDON, Oct 30- World shares rose modestly while the dollar weakened on Tuesday as the initial impact of a massive storm in the United States looked to have been less severe than feared.

  • RMS, one of the three primary firms used by the insurance industry to calculate disaster exposures, indicated that Sandy should outdo the roughly $4.5 billion in insured losses Irene caused after hitting the northeast in August 2011.

  • BUDAPEST, Oct 30- Hungary's divided central bank cut interest rates for the third successive month on Tuesday, shrugging off inflation and market scepticism over whether the indebted country will secure an international financing backstop.

  • U.S. home prices climb further in August-S&P Tuesday, 30 Oct 2012 | 1:00 PM ET

    NEW YORK, Oct 30- U.S. single-family home prices rose in August, the latest sign that the housing market is on the mend, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.5 percent on a seasonally adjusted basis, in line with economists' forecasts.

  • LONDON, Oct 30- British oil group BP Plc raised its dividend on Tuesday, confident it can bounce back from a devastating U.S. oil spill with a rejigged business in Russia and a focus on exploration and oil production over fuel refining and gas.