NEW YORK, Feb 28- Warren Buffett wants to buy more businesses to add to Berkshire Hathaway Inc's "sprawl," but cautioned it may not keep the company he has run for 50 years from evolving into something rarely used to describe it up until now: average. In his annual letter to shareholders, Buffett on Saturday said Berkshire's huge balance sheet gives him the power to...» Read More
DUBAI, Oct 30- Dana Gas, the United Arab Emirates' largest listed natural gas firm, will not repay a $920 million convertible Islamic bond when it matures on Wednesday and has reached a standstill agreement with bondholders, three sources familiar with the matter told Reuters.
LONDON, Oct 30- British oil company BP Plc raised its dividend on Tuesday and signaled a more upstream-focused future beyond 2014 along with stronger than expected quarterly profits. Chief Executive Bob Dudley also outlined the British group's preparedness for a court battle with U.S. authorities over its 2010 U.S.
HONG KONG, Oct 30- Industrial and Commercial Bank of China Ltd, the world's biggest lender by market value, posted a 15 pe rcent ri se in third-quarter net profit, bea ting estimates, h elped by wider interest margins due to increased demand for credit. Net profit rose to 62.44 billion yuan in July-September from 54.4 billion yuan a year earlier, ICBC said on Tuesday.
FRANKFURT, Oct 30- Shares in Telefonica's O2-branded German unit started trading above their initial public offering price on Tuesday, in Europe's largest new listing in more than a year. On Monday, Telefonica priced the sale of Telefonica Deutschland shares at 5.60 euros apiece, in the lower half of its indicative range, raising as much as 1.45 billion euros.
HONG KONG, Oct 30- Hong Kong shares sank to their lowest in almost two weeks on Tuesday, with most local developers slipping further in the wake of fresh curbs on real estate purchases in the territory. Investors also took profits on Chinese banks, recent outperformers after strong third-quarter earnings from three of China's ``Big Four'' banks.
MILAN, Oct 29- Italy will probably have to accept higher borrowing costs on the new five-year bond it is offering later on Tuesday because growing fears of domestic political instability are making investors edgy.
PARIS, Oct 30- European stocks rose on Tuesday, led by Swiss bank UBS after it confirmed cost-cutting plans and UK energy firm BP after it raised its dividend. Trade was expected to remain thin, however, as the impact from a massive storm hitting the United States is set to keep Wall Street closed for a second day.
HONG KONG, Oct 30- Hong Kong shares sank to their lowest in almost two weeks on Tuesday, with local developers extending losses in the wake of fresh curbs on real estate purchases in the territory. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.8 percent.
*Storm forces two-thirds of U.S. East Coast refineries to shut. SINGAPORE, Oct 30- Brent crude hovered above $109 a barrel on Tuesday as investors watched for any impact on markets from huge storm Sandy, which crashed ashore on the U.S. East Coast, closing refineries, roads and airports.
LONDON, Oct 30- International oil company BP Plc raised its dividend on Tuesday as it delivered a stronger than expected third quarter result and prepared for a court battle with U.S. authorities over its 2010 U.S.
SINGAPORE, Oct 30- Iron ore prices may drop nearly 10 percent over the next three years as top consumer China's economic growth shifts to a slower gear, threatening to squeeze profits at global miners Vale, Rio Tinto and BHP Billiton, a Reuters poll showed.
SINGAPORE, Oct 30- London copper rebounded on Tuesday from a near two-month low hit in the prior session, with lower prices spurring some buying, but global growth worries could cap gains in trade dampened by one of the biggest storms ever to hit the United States.
FRANKFURT/ MADRID, Oct 30- Shares in Telefonica's O2-branded German unit were trading above their initial public offering price in unofficial trading on Tuesday, before their listing, Europe's largest in more than a year.
Oct 30- U.S. buyout firm Cerberus Capital Management LP is working with a group of real estate firms on a possible bid for supermarket chain Supervalu Inc, the Wall Street Journal reported on Monday, citing people familiar with the matter.
LONDON, Oct 30- Unusually strong refining margins helped lift third quarter profits for international oil company BP Plc in the third quarter to $5.2 billion, up from $3.7 billion in the second quarter and well ahead of expectations.
Sandy, one of the biggest storms ever to hit the United States, has had no impact on trading in Asia, but the closure of markets in the United States could curb volume and increase volatility. Gold hit a low around $1,704 an ounce and was at $1,711.70 by 0713 GMT, up $2.46.
SAN FRANCISCO, Oct 29- Apple Inc CEO Tim Cook on Monday pushed out the powerful head of the company's mobile software products group, sources said, in a major management shake-up that also claimed the recently hired chief of the retail stores division.
DUBAI, Oct 30- The Kuala Lumpur- based Islamic Financial Services Board plans to revise its capital adequacy guidelines for Islamic financial institutions, with a draft to be released in November for industry feedback.
*Q3 net loss of 2.172 bln Sfr vs Reuters poll 457 mln Sfr. The move will focus the Zurich- based lender and wealth manager around its private bank and a smaller investment bank, ditching much of the trading business that saw it lose $50 billion in the financial crisis and one suspected rogue trader lose $2.3 billion last year.