*Denies report of Opel talks. MILAN, Oct 30- Fiat sharply cut its group targets for the next two years on Tuesday, saying languishing sales in austerity-hit Europe may mean its trading profit in 2014 is a third lower than it targeted two years ago.
LONDON, Oct 30- Imperial Tobacco has taken a 1.2 billion-pound writedown on its Spanish business as the impoverished country's smokers turn to cheaper black market cigarettes.
*Camden International says its 9 cocoa warehouses not damaged by storm. NEW YORK/ LONDON, Oct 30- Arabica coffee futures turned lower on Tuesday, giving back the previous session's gains, as many traders believed exchange stocks in U.S. East Coast warehouses were unscathed by Hurricane Sandy, one of the biggest storms ever to hit the region.
LONDON, Oct 30- UBS's retreat from lucrative fixed income markets around the world is unlikely to be followed by its rivals, although rising costs and tougher regulations make more deep cuts at other banks inevitable.
*Adoboli says trading losses made him catatonic. LONDON, Oct 30- Former UBS trader Kweku Adoboli told a London court on Tuesday he ``lost control'' in the summer of 2011 but insisted he never acted dishonestly in the frantic weeks that resulted in losses of $2.3 billion.
LONDON, Oct 30- Reassuring business updates from oil major BP and several major banks lifted European shares on Tuesday, with a key European equity index reaching its highest in more than a week.
LONDON, Oct 30- Dozens of UBS traders spent their day in the pub rather than at the Swiss bank's London headquarters after they found out that their security passes no longer worked. As more turned up for work queues began to form at the bank's doors until some took refuge instead in the Railway Tavern pub nearby.
*Sandy leaves New York City, eastern U.S. crippled. NEW YORK, Oct 30- U.S. gasoline and heating oil futures pulled back on Tuesday on the expected enormous hit to demand for fuel after Hurricane Sandy cut a destructive path across the East Coast of the United States.
MILAN, Oct 30- Fiat cut its group targets for 2013 and 2014 on Tuesday, saying that as sales languish in austerity-hit Europe trading profit in 2014 may be a third lower than a target it set a couple of years ago. It cut its 2014 revenue target to 94- 98 billion euros from a previous forecast of 104 billion and also sees higher debt.
LONDON, Oct 30- Britain is edging closer to its vision of low-carbon energy based on large-scale nuclear power and fossil fuels with carbon capture, which contrasts with small-scale renewable energy which many of its European neighbours favour.
LONDON, Oct 30- Gains in oil major BP and several major bank stocks after results lifted European shares on Tuesday, with a key European equity index reaching its highest level in more than a week.
*Spain yields stable, seen potentially outperforming Italy. Investors' attention, previously fixed on Spain, had turned back to Italy after former Prime Minister Silvio Berlusconi threatened at the weekend to withdraw support for Mario Monti's technocrat government before elections in April.
LONDON, Oct 30- Copper rose on Tuesday, rebounding from a near 2- month low hit in the previous session, supported by a weak dollar and some cautious industrial buying, but concerns about sluggish demand from top consumer China capped further gains.
LONDON, Oct 30- Arabica coffee futures turned lower on Tuesday as early reports suggested that exchange stocks in warehouses on the United States' East Coast were left unscathed by Sandy, one of the biggest storms ever to hit the region.
LONDON/ BRUSSELS, Oct 30- Commodities trader Glencore, hoping to speed its $33 billion takeover of Xstrata over its final hurdles, is expected to offer to sell part of the group's zinc assets, meeting a midnight deadline to comply with EU antitrust concerns.
*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.
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.
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.
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.
*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.