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  • 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.

  • MOSCOW, Oct 30- State-owned industrial and defence vehicle Russian Technologies is to buy 35 737 MAX planes from U.S. aerospace company Boeing Co for $3.5 billion, the companies said in a joint statement on Tuesday. Boeing has predicted that Russia and neighbouring states will take delivery of 1,140 new aircraft over the next 20 years, valued at $130 billion.

  • The study by commercial real estate services firm CBRE comes just days after Hong Kong announced its first residential property tax targeted at overseas buyers as U.S. quantitative easing and record-low interest rates boost the risk of a housing bubble in the Asian financial centre.

  • That swung investors' attention back to Italy as uncertainty over the timing of a Spanish aid request lingered. Selling pressure did not continue beyond Monday, however, and Italy managed to sell 7 billion euros of five- and 10- year bonds on Tuesday, paying its lowest cost to borrow since May 2011.

  • *Net sales $21.81 billion, exceed Wall Street forecasts. The Decatur, Illinois- based company, one of the world's top grain traders, reported net earnings of $182 million, or 28 cents per share, in its fiscal first quarter ended on Sept. 30, down from $460 million, or 68 cents per share, a year earlier.

  • *Philadelphia 330,000 bpd refinery, biggest on coast, undamaged-source. NEW YORK, Oct 30- The biggest U.S. East Coast refinery in Philadelphia appears to have emerged undamaged from Hurricane Sandy and a smaller nearby plant operated without trouble, sources said on Tuesday as energy firms began assessing the storm's damage.

  • *Job losses mostly in Switzerland, United States, Britain. Zurich- based UBS will focus on its private bank and a smaller investment bank, ditching much of the trading business that ran up $50 billion in losses in the financial crisis, as well as a $2.3 billion hit, which trader Kweku Adoboli, now on trial on charges of fraud and false accounting, is accused of running up.

  • *Job losses mostly in Switzerland, United States, Britain. Zurich- based UBS will focus on its private bank and a smaller investment bank, ditching much of the trading business that ran up $50 billion in losses in the financial crisis, as well as a $2.3 billion hit, which trader Kweku Adoboli, now on trial on charges of fraud and false accounting, is accused of running up.

  • *Bayer offers $34 per share vs $23.19 Friday closing price. FRANKFURT, Oct 30- Germany's Bayer is to buy U.S. vitamins maker Schiff Nutrition International for an agreed $1.2 billion as it seeks stable sources of growth to complement its more volatile prescription drugs business.

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

  • *Job losses mostly in Switzerland, United States, Britain. Zurich- based UBS will focus on its private bank and a smaller investment bank, ditching much of the trading business that ran up $50 billion in losses in the financial crisis, as well as a $2.3 billion hit from trader Kweku Adoboli last year, now on trial on charges of fraud and false accounting.

  • *Another Somali journalist killed, 18th this year Tuesday, 30 Oct 2012 | 11:14 AM ET
  • LONDON/ JOHANNESBURG, Oct 30- 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 and finance recovery after six weeks of strikes that left 46 people dead.

  • BERLIN, Oct 30- German joblessness rose for a seventh month in a row in October, highlighting the vulnerability of Europe's biggest economy to the euro zone crisis. This stands in marked contrast to the chronic joblessness suffered by weaker members of the euro zone such as Spain, where one in every two young people is unemployed.

  • Yuan extends rise on euro strength Tuesday, 30 Oct 2012 | 10:47 AM ET

    SHANGHAI, Oct 30- China's yuan briefly touched on the strong side trading limit in Monday's afternoon session, as traders pointed towards a euro rally against the dollar as propping up demand. A sharp strengthening of the euro against the dollar that began around 2 pm supported the yuan's appreciation in the afternoon session, traders said.

  • *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 payment of an Islamic bond on maturity, three sources familiar with the matter told Reuters on Tuesday.