Tuesday, October 30, 2012

US Steel earnings pressured by sluggish economy

US Steel earnings pressured by sluggish economy

US Steel earnings pressured by sluggish economy

Posted: 30 Oct 2012 12:38 PM PDT

The tough global economy is showing little sign of loosening its grip on the steel industry.

Sandy prompts harrowing NYC hospital evacuation

Posted: 30 Oct 2012 12:37 PM PDT

A patient is wheeled to an ambulance in the rain during an evacuation of New York University Tisch Medical, Tuesday, Oct. 30, 2012, in New York. Sandy, the storm which was downgraded from a hurricane just before making landfall, caused multiple fatalities, halted mass transit and cut power to more than 6 million homes and businesses (AP Photo/ John Minchillo)Evoking harrowing memories of Hurricane Katrina, nearly 300 patients were evacuated floor by floor from a premiere hospital that lost generator power at the height of superstorm Sandy.

Authorities: 33-year-old man killed Texas pastor

Posted: 30 Oct 2012 12:31 PM PDT

An investigator looks over a car that was crashed into the Greater Sweethome Missionary Baptist Church in Forest Hill, Texas, Monday, Oct. 29, 2012. Forest Hill Police Chief Dan Dennis says the pastor of the church is dead after the driver of the car crashed into the building and began to assault him. Dennis said officers arrived Monday afternoon at the Greater Sweethome Missionary Baptist Church to find an assault in progress. Dennis says the suspected attacker also later died shortly after being detained. (AP Photo/LM Otero)A suburban Fort Worth medical examiner's office has released the name of the man who died in police custody after ramming his car into a church wall and then fatally beating the pastor.

UBS to cut 10,000 jobs in fixed income retreat

Posted: 30 Oct 2012 12:30 PM PDT

A man walks past a logo of Swiss bank UBS in ZurichZURICH (Reuters) - Swiss bank UBS unveiled plans on Tuesday to fire 10,000 staff and wind down its fixed income business, returning to its private banking roots as it adapts to tough capital rules that make it harder to turn a profit from trading. 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. ...

Storm's cost may hit $50B; rebuilding to ease blow

Posted: 30 Oct 2012 12:29 PM PDT

The streets surrounding the New York Stock Exchange are deserted as financial markets remain closed for the second day due to superstorm Sandy, Tuesday, Oct. 30, 2012. Superstorm Sandy could mean a slower economy and higher gas prices in coming months, though reconstruction will help cushion the economic blow (AP Photo/Richard Drew)Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.

Obama to view storm damage in New Jersey

Posted: 30 Oct 2012 12:26 PM PDT

President Barack Obama receives applauds by workers during the his visit to the Disaster Operation Center of the Red Cross National Headquarter to discuss superstorm Sandy, Tuesday, Oct. 30, 2012, in Washington. (AP Photo/Pablo Martinez Monsivais)President Barack Obama will travel to storm-stricken New Jersey on Wednesday to view damage from the massive storm that struck the East Coast and to thank first responders.

From Springsteen to Letterman, Sandy disrupts

Posted: 30 Oct 2012 12:24 PM PDT

FILE - This Jan. 19, 2012 file photo shows billboards advertising Broadway shows in Times Square, in New York. The Broadway League announced, Monday, Oct. 29, that all performances will be canceled on Tuesday, Oct. 30, due to Hurricane Sandy. (AP Photo/Charles Sykes, file)Broadway, Carnegie Hall and Lincoln Center all remained dark Tuesday as Superstorm Sandy left the New York entertainment industry fighting to go on with the show — even if it meant performing for empty studios.

Hurricane Sandy disrupts Northeast U.S. telecom networks

Posted: 30 Oct 2012 12:23 PM PDT

A man walks through floodwaters in the Rockaways section of New YorkNEW YORK (Reuters) - Power outages and flooding caused by Hurricane Sandy disrupted telecommunications services in Northeastern states on Tuesday, resulting in spotty coverage for cellphones, television, home telephones and Internet services. While all the region's telecom service providers were having problems, Verizon Communications, which serves many of the states in the hurricane's path, appeared to have suffered some of the worst damage from the storm. ...

W.Va. blizzard warning as Appalachia storm blows

Posted: 30 Oct 2012 12:22 PM PDT

An ambulance is stuck in over a foot of snow off of Highway 33 West, near Belington, W.Va. on Tuesday, Oct. 30, 2012, in Belington, W.Va. Superstorm Sandy buried parts of West Virginia under more than a foot of snow on Tuesday, cutting power to at least 264,000 customers and closing dozens of roads. At least one death was reported. The storm not only hit higher elevations hard as predicted, communities in lower elevations got much more than the dusting of snow forecasters had first thought from a dangerous system that also brought significant rainfall, high wind gusts and small-stream flooding. (AP Photo/Robert Ray)Wet snow and high winds spinning off the edge of superstorm Sandy spread blizzard conditions over parts of West Virginia and neighboring Appalachian states Tuesday, shutting one interstate as trucks and cars bogged down and knocking out power to many.

Sandy upends final week of presidential race

Posted: 30 Oct 2012 12:21 PM PDT

President Barack Obama, accompanied by American Red Cross President and CEO Gail J. McGovern, gestures while speaking during the his visit to the Disaster Operation Center of the Red Cross National Headquarter to discuss superstorm Sandy, Tuesday, Oct. 30, 2012, in Washington. (AP Photo/Pablo Martinez Monsivais)Superstorm Sandy is upending the final week of the presidential race, with President Barack Obama calling off another campaign day to tour ravaged New Jersey and Republican Mitt Romney struggling to strike the right tone as he tries to close the deal with voters.

Syrian activists report 23 dead in Damascus suburb

Posted: 30 Oct 2012 12:19 PM PDT

In this Monday, Oct. 29, 2012 photo, a rebel sniper aims at Syrian army positions in the Aleppo Jedida district, Syria. Syrian fighter jets pounded rebel areas across the country on Monday with scores of airstrikes that anti-regime activists called the most widespread bombing in a single day since Syria's troubles started 19 months ago. (AP Photo/Narciso Contreras).Anti-regime activists say Syrian forces have killed at least 23 people in a restive suburb of the capital Damascus.

Tidal surge on river floods three New Jersey towns

Posted: 30 Oct 2012 12:18 PM PDT

A resident passes his baby to an emergency personnel as they are rescued from flood waters brought on by Hurricane Sandy in Little FerryTETERBORO, New Jersey (Reuters) - A wall of water, at times greater than 5 feet high, swept through three towns in northern New Jersey early Tuesday, a parting shot from Hurricane Sandy that prompted the evacuation of a few thousand people from their homes. The tidal surge up the swollen Hackensack River started just after midnight, and there was little time for the unprepared towns of Little Ferry, Moonachie and Carlstadt to rouse their roughly 19,000 residents and urge them to seek higher ground. ...

Yacht commissioned by Steve Jobs launched

Posted: 30 Oct 2012 12:18 PM PDT

Workers put the finishing touches to a yacht docked at the wharf of ship building company Royal De Vries in Aalsmeer, near Amsterdam, Netherlands, Tuesday Oct. 30, 2012. Just over a year after the Apple founder died, the luxury motor yacht he commissioned and helped French product designer Philippe Starck make has finally slipped into an anonymous Dutch backwater. (AP Photo/Peter Dejong)The sleek, white superyacht glistens under a gray autumnal sky, a posthumous testament to the design aesthetic of Steve Jobs.

Factbox: U.S. companies delay results due to Sandy

Posted: 30 Oct 2012 12:17 PM PDT

(Reuters) - Dozens of U.S. companies postponed releasing quarterly results after superstorm Sandy hit the U.S. east coast, disrupting power supplies and transportation and flooding large parts of New York city. All U.S. stock markets will be closed through Tuesday. Companies announcing delayed results and/or conference calls: -- Abiomed Inc rescheduled second-quarter conference call to November 1 at 8 am Eastern Time. -- Accelrys Inc rescheduled third-quarter results to October 31, after market. -- Acorda Therapeutics Inc rescheduled third-quarter results and conference call to October 31. ...

U.S. companies hustle to re-staff, reopen after Sandy

Posted: 30 Oct 2012 12:17 PM PDT

Car are seen on a street flooded at Hoboken in New JerseyNEW YORK/CHICAGO (Reuters) - After Hurricane Sandy devastated the East Coast, companies scrambled on Tuesday to assess the damage and figure out how to staff up as soon as possible. Transportation hubs in New York and Washington were closed due to Sandy, one of the biggest storms to ever hit the country. The storm bashed the coast for hours with high winds and waves that caused widespread flooding, then Sandy dropped just below hurricane status before making landfall on Monday night in New Jersey. ...

Moscow rally urges release of opposition activists

Posted: 30 Oct 2012 12:17 PM PDT

Demonstrators hold posters with portraits of jailed opposition activists Vladimir Akimenkov and Leonid Razvozzhayev and demanding their release, during a protest rally in Moscow, Russia, Tuesday, Oct. 30, 2012. Several hundred people rallied in central Moscow Tuesday in support of jailed opposition activists. The rally, which was sanctioned by authorities, went on peacefully amid heavy police cordons. It attracted supporters of both leftist and liberal parties, who urged the government to release more than a dozen of people facing accusations over their involvement in an opposition protest in May that ended in clashes with police. (AP Photo/Mikhail Metzel)Several hundred demonstrators rallied in Moscow on Tuesday to press for the release of opposition activists on the same day that Russia commemorated the victims of Soviet-era repression.

Factbox: Ten things to know about impact of storm Sandy

Posted: 30 Oct 2012 12:14 PM PDT

WASHINGTON (Reuters) - Millions of people awoke to scenes of destruction wrought by Sandy after the powerful storm smashed into the eastern United States, destroying buildings, flooding streets, and cutting power to parts of the nation's most densely populated regions. DEATHS At least 30 people were reported killed in eight states along the eastern seaboard by Sandy, which dropped just below hurricane status before making landfall on Monday night in New Jersey. Some people were hit by trees, others died in flooding, from electrical shocks or in car crashes linked to the storm. ...

Tiny NYC beachfront burns in floodwaters

Posted: 30 Oct 2012 12:14 PM PDT

Damage caused by a fire at Breezy Point is shown Tuesday, Oct. 30, 2012, in New York. A fire department spokesman says more than 190 firefighters are at the blaze in the Breezy Point section. Fire officials say the blaze was reported around 11 p.m. Monday in an area flooded by the superstorm that began sweeping through earlier. (AP Photo/Frank Franklin II)A tiny beachfront neighborhood told to evacuate before Sandy hit New York burned down as it was inundated by floodwaters, transforming a quaint corner of the Rockaways into a smoke-filled debris field.

Hitachi wins bid to build up to six UK nuclear plants

Posted: 30 Oct 2012 12:13 PM PDT

File photo of cattle grazing in front of the Wylfa nuclear power plant in Anglesey, WalesLONDON (Reuters) - Hitachi on Tuesday won a bid to take over a company building up to six nuclear power plants in Britain, reviving hopes for investment in the UK's ageing energy infrastructure but leaving doubts they will come online in time. Hitachi said it expected to have the first 1,300 megawatt (MW) nuclear power plant in the UK operational by the mid-2020s. "This is a decades-long, multi-billion pound vote of confidence in the UK that will contribute vital new infrastructure to power our economy," Prime Minister David Cameron said in a statement. ...

Hitachi seeking operator for UK nuclear project

Posted: 30 Oct 2012 12:13 PM PDT

LONDON (Reuters) - Japan's Hitachi is in discussions with candidates to operate its UK Horizon nuclear power project to build up to six plants, which it acquired on Tuesday. "We are in discussions with candidates," said Tatsuro Ishizuka, CEO of Hitachi's power systems company, during a press conference in London, adding that Hitachi was not looking to operate the project itself. (Reporting by Karolin Schaps; editing by Jane Baird)

Cassel to start at QB for Chiefs vs Chargers

Posted: 30 Oct 2012 12:11 PM PDT

Matt Cassel is back under center as the Chiefs' starting quarterback.

Greece delays austerity vote, warns of 'chaos'

Posted: 30 Oct 2012 12:11 PM PDT

FILE - In this Monday, Oct. 15, 2012 file photo shows Greece's Prime Minister Antonis Samaras delivers a speech in a forum of International Herald Tribune in Athens. Samaras said on Tuesday, Oct. 30, 2012 that the government had essentially ended negotiations on new austerity measures and warned of "chaos" if the reforms are not passed. (AP Photo/Thanassis Stavrakis, File)Greece's coalition government will delay a vote on major new austerity measures by another week, warning Tuesday there would be financial chaos if a deal is not reached.

Obama to travel to New Jersey Wednesday to view storm damage

Posted: 30 Oct 2012 12:10 PM PDT

U.S. President Barack Obama speaks about damage done by Hurricane Sandy at the National Red Cross Headquarters in WashingtonWASHINGTON (Reuters) - President Barack Obama will travel to New Jersey on Wednesday to view damage caused by massive storm Sandy, the White House said in a statement. "Tomorrow afternoon, the president will travel to New Jersey where he will join Governor (Chris) Christie in viewing the storm damage, talking with citizens who are recovering from the storm and thanking first responders who put their lives at risk to protect their communities," the statement said. Obama canceled campaign appearances planned for Ohio on Wednesday because of the storm. ...

Australia's Sermanni hired as new US women's coach

Posted: 30 Oct 2012 12:06 PM PDT

When Tom Sermanni shook hands with Pia Sundhage after her last game as coach of the U.S. women's soccer team, he should have asked her for a few tips.

European 'Borgia' drama proves a worldwide hit

Posted: 30 Oct 2012 12:05 PM PDT

In this photo taken Monday, Oct. 29, 2012, actors perform during the shooting of "Borgia" tv series in Sermoneta, Italy. The Italian economy may be struggling but the pan-European television series Who doesn't love a wealthy family's bloody saga?

Nasty campaign tactics: Phony voting instructions

Posted: 30 Oct 2012 12:04 PM PDT

This handout photo provided by Joel Gilbert, taken Sept. 19, 2012, shows Mr. Gilbert at the film screening for his movie "Dreams from My Real Father" in Bellmore, NY. With a week until Election Day, the nasty campaign tactics are coming out. The film was mailed for free to some seven million homes. The film claims that Obama's real father was Frank Marshall Davis, a communist agitator, author and poet who lived in Hawaii, not the former Kenyan goat herder who share's the president's name. Both men are deceased. (AP Photo/Joel Gilbert, HO)With a week to go until Election Day, the nasty campaign tactics are coming out.

Meningitis outbreak toll: 363 cases, 28 deaths

Posted: 30 Oct 2012 12:03 PM PDT

An outbreak of fungal meningitis has been linked to steroid shots for back pain. The medication, made by a specialty pharmacy in Massachusetts, has been recalled.

U.S. and EU push for progress in troubled Balkans

Posted: 30 Oct 2012 12:01 PM PDT

U.S. Secretary of State Hillary Clinton speaks next to Serbian Prime Minister Ivica Dacic during a news conference following meetings at the Palace of Serbia in BelgradeSARAJEVO (Reuters) - Europe and the United States teamed up on Tuesday to press Bosnia, Serbia and Kosovo to overcome the legacy of Yugoslavia's bloody collapse as a condition of closer integration with the West. "If you do not make progress you will be left behind," U.S. Secretary of State Hillary Clinton warned at the start of a trip to the region with EU foreign policy chief Catherine Ashton. NATO member Croatia will follow Slovenia in joining the 27-nation EU next year, but accession is a very distant prospect for the other five countries carved from federal Yugoslavia in the 1990s. ...

'I lost control,' former UBS trader tells court

Posted: 30 Oct 2012 11:58 AM PDT

FILE- City trader Kweku Adoboli, arrives at Court in London in this file photo dated Thursday Sept. 22, 2011, where he is accused of fraud and false accounting at Swiss banking giant UBS. Adoboli broke down in tears as he took the stand for the first time Friday Oct. 26, 2012, as he insisted he had acted purely to help save the bank he considered his family. Adoboli has pleaded not guilty to all charges against him. (AP Photo/Sang Tan, File)A former UBS trader accused of losing $2.3 billion in reckless deals told a jury Tuesday that he lost control amid constant pressure from his managers to make profits.

Diplomat: Texas agents should have seen people

Posted: 30 Oct 2012 11:57 AM PDT

Texas law enforcement agents were close enough to a pickup truck to see it was carrying people, not drugs, before one opened fire, killing two Guatemalan immigrants, a diplomat said Tuesday.

New York Stock Exchange will reopen Wednesday

Posted: 30 Oct 2012 11:53 AM PDT

FILE - In this Monday, Oct. 29, 2012 file photo, the floor of the New York Stock Exchange is empty of traders, as New York's financial district braces for the onslaught of Hurricane Sandy. U.S. markets will remain closed Tuesday, Oct. 30, but the New York Stock Exchange said that despite reports that its historic trading floor suffered irreparable damage, no such damage has occurred and that contingency plans are being tested only as a safety measure. Futures trading will go on until 9:15 a.m. Eastern, but volume is light. (AP Photo/Richard Drew, File)The New York Stock Exchange will reopen for regular trading Wednesday after being shut down for two days because of Hurricane Sandy.

Regional elections foretell turmoil in Italy

Posted: 30 Oct 2012 11:53 AM PDT

Italy's Prime Minister Mario Monti, speaks during a Spain-Italy Forum at American House in Madrid, Spain, Monday, Oct. 29, 2012. (AP Photo/Andres Kudacki)Italy risks heading into political turmoil after a regional election showed a huge level of voter distrust in mainstream political parties, a result that could also rattle financial markets that have no small role in deciding the fate of the economically troubled nation.

After Sandy, canceled flights but no airport chaos

Posted: 30 Oct 2012 11:52 AM PDT

Travellers surround a flight monitor showing cancelled flights at LaGuardia airport in New YorkHurricane Sandy has left more than 16,000 flight cancellations in its wake.

Syrian air force on offensive after failed truce

Posted: 30 Oct 2012 11:51 AM PDT

Smoke rises after a Syrian Air Force fighter jet loyal to Syria's President Bashar al-Assad fired missiles at Hamouria, near DamascusAMMAN (Reuters) - Syrian warplanes bombed rebel targets with renewed intensity on Tuesday after the end of a widely ignored four-day truce between President Bashar al-Assad's forces and insurgents. State television said "terrorists" had assassinated an air force general, Abdullah Mahmoud al-Khalidi, in a Damascus suburb, the latest of several rebel attacks on senior officials. In July, a bomb killed four of Assad's aides, including his brother-in-law Assef Shawkat and the defense minister. ...

Mexican man pleads guilty in killing of US agent

Posted: 30 Oct 2012 11:51 AM PDT

A Mexican man pleaded guilty in Tucson federal court Tuesday to the killing of a U.S. Border Patrol agent during a 2010 firefight near the Arizona-Mexico border, marking the first conviction in the agent's death.

Obama says storm not yet over, government to aid local authorities

Posted: 30 Oct 2012 11:48 AM PDT

U.S. President Barack Obama speaks while he monitors damage done by Hurricane Sandy at the National Red Cross Headquarters in WashingtonWASHINGTON (Reuters) - President Barack Obama said on Tuesday the federal government would do all it could to help local authorities cope with damage caused by the massive storm Sandy. The president, speaking at the national headquarters of the American Red Cross, said the storm, which slammed into some of the most densely populated areas of the eastern United States on Monday, was "not yet over" and that there were still risks. "It is still moving north," he said. "There are still communities that could be affected. ...

Romney sticks to storm relief script at Ohio event

Posted: 30 Oct 2012 11:48 AM PDT

U.S. Republican presidential nominee Romney accepts relief supplies for people affected by Hurricane Sandy in KetteringKETTERING, Ohio (Reuters) - Republican presidential candidate Mitt Romney, blown off the campaign trail by Hurricane Sandy, drew a fine line between politicking and storm relief on Tuesday as the weather cast an unpredictable pall over the race with just a week to go until Election Day. With President Barack Obama holed up in Washington monitoring relief efforts, Romney faced the challenge of trying to demonstrate his presidential credentials without appearing insensitive to the millions of Americans affected by the storm. ...

Superstorm Sandy rattles entertainment industry

Posted: 30 Oct 2012 11:47 AM PDT

Streets are flooded under the Manhattan Bridge in the Dumbo section of Brooklyn, N.Y., Monday, Oct. 29, 2012. Sandy continued on its path Monday, as the storm forced the shutdown of mass transit, schools and financial markets, sending coastal residents fleeing, and threatening a dangerous mix of high winds and soaking rain. (AP Photo/Bebeto Matthews)even if they have power.

Cyprus: offshore drilling license talks begin

Posted: 30 Oct 2012 11:47 AM PDT

Cyprus' commerce minister says the government will open negotiations with oil and gas companies including Italy's ENI, South Korean KOGAS, France's Total and Russia's Novatek on granting them licenses to drill for gas deposits off the island's south coast.
Posted by Harshad at 1:03 PM

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