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Latest Business News Wires - Business Headlines


  • *Italy debt auctions also help euro. NEW YORK, Oct 30- The yen rose against the dollar on Monday after monetary easing steps from the Bank of Japan disappointed investors who had positioned for a more aggressive increase in asset purchases.

  • *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 and is embroiled in a global LIBOR rate-fixing investigation.

  • Catastrophe bonds unbowed by Hurricane Sandy Tuesday, 30 Oct 2012 | 3:52 PM ET

    LONDON, Oct 30- Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the biggest ever to hit the United States.

  • New York Governor Andrew Cuomo said at a separate press conference that all bus fares would be suspended on Tuesday. New York City experienced 23 fires during the storm, with a severe one in Breezy Point, Queens, that burned more than 80 houses.

  • *Argentina is world's No. 2 corn exporter after the U.S. BUENOS AIRES, Oct 30- Argentina could lose 20 percent of its projected corn crop and 10 percent of its soy this season because of violent storms that have lashed the Pampas farm belt over the last three months, a local expert said on Tuesday.

  • U.S. companies hustle to re-staff, reopen after Sandy Tuesday, 30 Oct 2012 | 3:46 PM ET

    *Saks, Macy's hope to open in New York City on Wednesday. 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- 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.

  • Spain becomes net diesel exporter as its demand slumps Tuesday, 30 Oct 2012 | 3:40 PM ET

    *Spain has invested $5 bln in refinery upgrades. MADRID, Oct 30- Spain has become a net diesel exporter for the first time on record this year as demand has collapsed at home and major refinery upgrades have boosted production capacity, the country's strategic oil reserves corporation said.

  • *Boeing sees up to $27 bln in Russian titanium buying. MOSCOW, Oct 30- Boeing Co will sell 35 of its 737 MAX airliners to an aircraft leasing arm of Russian Technologies in a deal worth $3.5 billion, the companies said on Tuesday.

  • Oct 30- Fidelity Investments, which has one of the largest U.S. online brokerages, told retail customers that it expects U.S. markets to open Wednesday for normal trading.

  • FACTBOX- A look at South African platinum production Tuesday, 30 Oct 2012 | 3:30 PM ET

    Oct 30- Here is a look at platinum production in South Africa as strike-hit South African miner Lonmin, the world's third-largest platinum producer, plans to raise $800 million from its investors to help slash debt. In 2012 South Africa was gripped by its worst labour unrest in decades following a violent strike that broke out at Lonmin's Marikana mine in August.

  • WASHINGTON, Oct 30- The U.S. home vacancy rate, which measures empty properties and those for sale, fell to the lowest level in seven years in the third quarter as demand for housing picked up and economic pressures eased.

  • Accused UBS rogue trader: "I lost control" Tuesday, 30 Oct 2012 | 3:22 PM ET

    LONDON, Oct 30- Former UBS trader Kweku Adoboli told a London court on Tuesday he had ``lost control'' of his trading in the summer of 2011 but insisted he never acted dishonestly in the frantic weeks that resulted in losses of $2.3 billion.

  • Oct 30- U.S. East Coast electric companies say outages from Hurricane Sandy so far have hit more than 8.1 million homes and businesses, the U.S. Department of Energy said in a report early on Tuesday.

  • *Navistar aims to save up to $175 mln next year. NEW YORK, Oct 29- U.S. truck and engine maker Navistar International Corp is willing to look at the possible sale of any part of its business as it tries to return to profitability, but it is not willing to consider fire-sale prices for its assets, interim Chief Executive Lewis Campbell said on Monday.

  • Oct 30- U.S. East Coast electric companies say outages from Hurricane Sandy so far have hit more than 8.1 million homes and businesses, the U.S. Department of Energy said in a report early on Tuesday.

  • LONDON, Oct 30- World shares rose modestly in subdued trading on Tuesday as investors waited to see the full impact of a massive storm that wrought destruction across the eastern United States.

  • *NYSE, Nasdaq OMX testing trading systems on Tuesday. Oct 30- U.S. stock exchanges are looking at opening on Wednesday after monster storm Sandy receded from New York, sources said, and the New York Stock Exchange is testing a new plan to help resume trading. Plans to resume trading will be complicated by the lingering effect of the storm on New York.

  • NEW YORK, Oct 30- The biggest U.S. East Coast refinery in Philadelphia began restoring production after Hurricane Sandy on Tuesday and a smaller nearby plant operated without trouble as energy firms began assessing the storm's damage.

  • *Storm forces two-thirds of U.S. East Coast refineries to shut. LONDON, Oct 30- Brent crude fell towards $109 on Tuesday on concerns about weak demand from the U.S. East Coast in the aftermath of storm Sandy, that swept through the area shutting refineries, roads and airports.