NEW YORK— Former pharmaceutical chief Martin Shkreli's campaign to build up an impressive music portfolio rolls on. After spending $2 million for the sole copy of Wu-Tang Clan's "Once Upon a Time in Shaolin" late last year, the 32- year-old former hedge fund manager is now offering $10 million for Kanye West's new album. Shkreli, an active Twitter user, posted a copy...» Read More
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.
MADRID, Oct 30- A new price war among Spain's banks risks destroying already eroded profit margins by offering depositors ever higher interest rates to win new customers, in a desperate battle for capital they can't get elsewhere.
MILAN, Oct 30- Fiat downshifted its full-year forecasts to the lower end of its range on Tuesday and said net debt would overshoot a previous target by as much as one billion euros in the face of a persistently weak European car market.
*Data from Twitter, Facebook used in investment models. LONDON, Oct 30- After a year in which investors have sometimes appeared to change their view of an entire market on a whim, gauges of market mood are gaining prominence alongside more traditional measures of stock price valuation.
NICOSIA, Oct 30- Cyprus may struggle to pay public sector salaries in December unless a bailout deal is clinched by mid-November, an official document quoted Finance Minister Vassos Shiarly as saying.
LONDON, Oct 30- India is emerging as the unknown factor for Asia's iron ore market in 2013, which otherwise looks to be in a fair balance between supply and demand. It's also likely that China will account for the bulk of growth in seaborne iron ore demand, with recession-plagued Europe expected to be steady at best and modest growth likely from the rest of the world.
JERUSALEM, Oct 30- Israel's surprise rate cut appears to have come from a confluence of a rising shekel meeting a weakening economy. The cut was particularly surprising given that the Bank of Israel had expressed concern over rising housing prices, according to the minutes of its September 24 rates decision.
*Home prices rise for 7th month in a row. NEW YORK, Oct 30- U.S. home prices gained further traction in August, the latest sign that the housing market is on the mend, a closely watched survey showed on Tuesday.
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.
LONDON, Oct 30- Gold prices firmed on Tuesday as stock markets rose and the dollar weakened, but moves were limited as New York markets remained closed due to Hurricane Sandy, and ahead of a key U.S. jobs report due later this week. Spot gold was at $1,710.61 at 1430 GMT, up 0.1 percent, while U.S. gold futures for December rose $2.50 to $1,711.20.
*Reform to involve spending cuts worth 4 bln euros for 2013. LISBON, Oct 30- Portugal will present plans for a thorough reform of state institutions and spending to its international lenders early next year, its prime minister said on Tuesday.
LONDON, Oct 30- British oil group BP Plc raised its dividend on Tuesday, confident it can fight back from a devastating U.S. oil spill with a big pile of cash, a rejigged business in Russia and a focus on exploration and production.
ATHENS, Oct 30- A Greek coalition partner confirmed on Tuesday it would vote against labour reforms proposed by foreign lenders, ignoring the prime minister's appeal for a united front to push through more unpopular austerity.
Oct 30- More than 7.4 million homes and businesses along the U.S. East Coast were still without power as the remnants of Hurricane Sandy continued to batter the region. Sandy hit the East Coast on Oct. 29. The following power holding companies have utility units that reported outages on Monday.
*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.
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.