Yahoo! News: Health News

---

• Global shares fall as growth fears mount, Wall St closes
• Consumer spending picks up, but savings a worry
• Stock markets unlikely to open Tuesday: exchange official
• Stock futures end shortened session lower on storm, Europe
• PayPal to cut about 325 jobs in major reorganization
• Politics puts Italy, Spain back in market focus
• BMW to recall 7 Series for transmission flaw
• Traders brace for another day of closed markets as Sandy menaces
• Ford to sell last business in auto parts unit
• UBS shares jump at prospect of 10,000 job cuts
• Sandy unlikely to damage US economy, analysts say
• All US exchanges shut down before Hurricane Sandy
• Hurricane Sandy grounds thousands of flights
• Storm leads companies to postpone earnings reports
• Phone companies prepare for Sandy
• Google unveils another phone, larger Nexus tablet
• Sandy gains power and aims for Northeast
• US consumer spending rose 0.8 percent in September
• Pearson, Bertelsmann confirm publishing tie-up
• Burger King's profit down amid turnaround push
• Verizon to sell Nokia phone
• Sandy unlikely to damage US economy, analysts say
• Canada auto-parts strike may disrupt GM production
• Google unveils another phone, larger Nexus tablet
• Spain's Rajoy rules out imminent request for help
• Sandy gains power and aims for Northeast
• Burger King's profit down amid turnaround push
• PayPal to cut 325 full-time jobs
• Storm leads companies to postpone earnings reports
• Politics puts Italy, Spain back in market focus
• Merkel faces growing lawmaker rebellion over aid to Greece
• US consumer spending rose 0.8 percent in September
• Greek banks to be recapitalized partly via shares
• Greek publisher in court over Swiss bank names
• PayPal to cut about 325 jobs in major reorganization
• S.Africa stocks end higher, markets brace for storm
• UPS sees delivery of 527 million holiday packages
• Stock markets unlikely to open Tuesday: exchange official
• S.Africa's Nedbank lifted by higher-risk lending
• Canada says GDP growth holding, but tax revenues off

Global shares fall as growth fears mount, Wall St closes Posted: 29 Oct 2012 08:01 AM PDT LONDON (Reuters) - World shares and commodities fell on Monday as a recent run of downbeat corporate reports cast a shadow over the economic growth outlook and markets awaited the impact of a huge U.S. hurricane. All U.S. stock markets were shut in the first weather-related closure for 27 years, and they may close again on Tuesday as forecasters say the storm could be the largest to hit the mainland in American history. U.S. stock index futures, which traded as usual, were down around 0.3 to 0. ...

Consumer spending picks up, but savings a worry Posted: 29 Oct 2012 08:27 AM PDT WASHINGTON (Reuters) - Consumer spending rose solidly in September, putting the economy on a firmer footing heading into the fourth quarter even though households had to pull back on saving to fund purchases. The Commerce Department said on Monday that consumer spending rose 0.8 percent, the largest increase since February, after an unrevised 0.5 percent gain in August. Spending accounts for about 70 percent of U.S. economic activity and last month's increase offered a strong hand off from the July-September period to the current quarter. ...

Stock markets unlikely to open Tuesday: exchange official Posted: 29 Oct 2012 09:43 AM PDT NEW YORK (Reuters) - Equity markets are unlikely to open on Tuesday as Hurricane Sandy bears down on the New York area, a senior exchange official at one of the major exchanges told Reuters on Monday. A decision has not been made yet, but with the hurricane closing in and metro-area transit systems closed, it is highly likely that U.S. equity trading on the New York Stock Exchange and Nasdaq Stock Markets will remain closed. Industry officials were expected to discuss whether to open or not early Monday afternoon, the source said. ...

Stock futures end shortened session lower on storm, Europe Posted: 29 Oct 2012 08:37 AM PDT NEW YORK (Reuters) - U.S. stock index futures fell in a shortened session on Monday and cash equity trading was canceled as powerful Hurricane Sandy bore down on the U.S. East Coast while renewed uncertainty in Europe hurt sentiment. All U.S. stock markets were closed on Monday and may remain closed on Tuesday, the operator of the New York Stock Exchange said, depending on the damage from the huge and dangerous storm on financial center New York City overnight and on Tuesday. Index futures stopped trading electronically at 9:15 a.m. and will stay shut until further notice. ...

PayPal to cut about 325 jobs in major reorganization Posted: 29 Oct 2012 08:57 AM PDT SAN FRANCISCO (Reuters) - PayPal is cutting about 325 jobs as part of a major reorganization by its new president, David Marcus, designed to regain an innovative edge and head off rising competition. PayPal, the online payment pioneer owned by eBay Inc , said on Monday the full-time jobs would be eliminated as it combines nine product-development groups into one. The company is also cutting about 120 contractors. EBay announced a $15 million pre-tax restructuring charge, to be recorded in its fourth quarter, related to the job reductions. ...

Politics puts Italy, Spain back in market focus Posted: 29 Oct 2012 09:12 AM PDT MADRID/ROME (Reuters) - Spanish Prime Minister Mariano Rajoy kept financial markets guessing on Monday over whether he will seek a credit line from the euro zone's rescue fund but said he would do so "when I think it is in the interests of Spain". At a joint news conference after talks in Madrid, Italian Prime Minister Mario Monti said it was vital that the European Central Bank's bond-buying program to support troubled states be activated, a strong hint that Spain should take the plunge, since he also said Italy did not need a bailout. ...

BMW to recall 7 Series for transmission flaw Posted: 29 Oct 2012 07:33 AM PDT (Reuters) - Bayerische Motoren Werke AG's BMW of North America affiliate said it will recall 45,500 of its 7 Series luxury sedans from model years 2005-2008 to correct a flaw that could cause a parked vehicle to roll away. BMW said automatic transmissions may not remain in "park" position due to a software problem on cars equipped with keyless ignition and the Comfort Access option. The cars are designed to automatically shift the transmission to park when the driver presses the Stop/Start button to shut off the engine. ...

Traders brace for another day of closed markets as Sandy menaces Posted: 29 Oct 2012 08:19 AM PDT (Reuters) - Wall Street traders are preparing for the possibility of another day of closed financial markets on Tuesday after Hurricane Sandy, the monster storm menacing the Northeast, led to the first weather-related shutdown of U.S. stock markets in 27 years. Market participants and regulators decided late on Sunday to shut the market, reversing an earlier plan to keep electronic trading going on Monday and leaving some complaining about the late decision. Bond markets, which are closing at noon EDT (1600 GMT) on Monday, will not reopen on Tuesday, a trade group said. ...

Ford to sell last business in auto parts unit Posted: 29 Oct 2012 08:48 AM PDT (Reuters) - Ford Motor Co , the No. 2 U.S. automaker, said on Monday that it would sell its last remaining auto parts company to a joint venture between French supplier Valeo SA and a former Detroit Pistons basketball player. The sale of Ford's Plymouth Township, Michigan-based climate control business fulfills the goal of its Automotive Components Holdings, a unit created in 2005 to manage plants that Ford acquired from its largest parts supplier, Visteon Corp . Ford created ACH in October 2005 with 17 plants to prevent parts disruptions while Visteon downsized its operations. ...

UBS shares jump at prospect of 10,000 job cuts Posted: 29 Oct 2012 06:26 AM PDT ZURICH/LONDON (Reuters) - Shares in UBS soared on Monday after media reports the Swiss bank would announce up to 10,000 job cuts as it takes the knife to its investment banking operations, particularly its fixed income business. UBS Chief Executive Sergio Ermotti is expected to announce the radical restructuring along with third-quarter earnings on Tuesday, but news of the plans started leaking late on Friday. "The changes being discussed in the media, if true, would represent a transformational change for UBS," said analysts at Espirito Santo Investment Bank in a note to clients. ...

Sandy unlikely to damage US economy, analysts say Posted: 29 Oct 2012 09:41 AM PDT Hurricane Sandy will cause temporary disruptions for companies, travelers and consumers but won't likely slow the U.S. economy in the final quarter of 2012, analysts say.

All US exchanges shut down before Hurricane Sandy Posted: 29 Oct 2012 07:25 AM PDT U.S. stock markets are closed as Hurricane Sandy nears landfall on the East Coast and are likely to remain closed Tuesday.

Hurricane Sandy grounds thousands of flights Posted: 29 Oct 2012 08:36 AM PDT Hurricane Sandy grounded thousands of flights in the U.S. northeast Monday and upended travel plans across the globe, stranding passengers from Hong Kong to Europe. The massive storm threatens to bring a near halt to air travel for at least two days in a key region for both domestic and international flights.

Storm leads companies to postpone earnings reports Posted: 29 Oct 2012 09:22 AM PDT A number of major U.S. companies postponed quarterly earnings reports scheduled for Monday, as Hurricane Sandy barreled into the East Coast and caused the first unplanned shutdown of financial markets since 2001.

Phone companies prepare for Sandy Posted: 29 Oct 2012 08:13 AM PDT Phone companies on the eastern seaboard are preparing Monday for the onslaught of Hurricane Sandy by topping up fuel for backup generators and lining up disaster recovery trailers to move into flooded areas after the storm passes.

Google unveils another phone, larger Nexus tablet Posted: 29 Oct 2012 09:39 AM PDT Google is adding a few more gadgets to holiday shopping lists.

Sandy gains power and aims for Northeast Posted: 29 Oct 2012 09:25 AM PDT Gaining strength and threatening 50 million people, Hurricane Sandy chugged north Monday, raking ghost-town cities along the Northeast corridor with rain and wind gusts. Subways and schools were closed, the floor of the New York Stock Exchange was deserted, and thousands fled inland.

US consumer spending rose 0.8 percent in September Posted: 29 Oct 2012 09:05 AM PDT Americans increased their spending in September at twice the rate that their income grew, a sign of confidence in the economy. Still, consumers made up the difference by saving less for a third straight month, a troubling trend.

Pearson, Bertelsmann confirm publishing tie-up Posted: 29 Oct 2012 07:25 AM PDT Two of the world's biggest publishing houses are to link up in a deal that will bring the writings of classics like George Orwell's '1984' and this year's literary phenomenon 'Fifty Shades of Grey' under one umbrella.

Burger King's profit down amid turnaround push Posted: 29 Oct 2012 09:25 AM PDT Burger King's net income fell 83 percent in the third quarter as the world's second biggest hamburger chain sold off more of its restaurants to franchisees as part of a turnaround push. But the company's adjusted results topped Wall Street expectations.

Verizon to sell Nokia phone Posted: 29 Oct 2012 09:41 AM PDT Verizon Wireless, the largest cellphone carrier in the U.S., says it will sell a Nokia phone for the first time in years, lending support to the embattled Finnish company's turnaround effort.

Sandy unlikely to damage US economy, analysts say Posted: 29 Oct 2012 09:41 AM PDT Hurricane Sandy will cause temporary disruptions for companies, travelers and consumers but won't likely slow the U.S. economy in the final quarter of 2012, analysts say.

Canada auto-parts strike may disrupt GM production Posted: 29 Oct 2012 09:39 AM PDT TORONTO (Reuters) - Production at General Motors Co's Oshawa, Ontario, plant could shut down Monday as a strike at Lear Corp cut off supplies of seats used in vehicles assembled there, the Canadian Auto Workers (CAW) union said on Monday. About 400 workers at Lear's plant in Whitby, Ontario, went on strike on Sunday after talks broke down over company requests for contract concessions, the CAW, which represents workers at both GM and Lear, said. ...

Google unveils another phone, larger Nexus tablet Posted: 29 Oct 2012 09:39 AM PDT Google is adding a few more gadgets to holiday shopping lists.

Spain's Rajoy rules out imminent request for help Posted: 29 Oct 2012 09:32 AM PDT Spain has no immediate need to ask for outside aid to help deal with its debts, Prime Minister Mariano Rajoy insisted Monday.

Sandy gains power and aims for Northeast Posted: 29 Oct 2012 09:25 AM PDT Gaining strength and threatening 50 million people, Hurricane Sandy chugged north Monday, raking ghost-town cities along the Northeast corridor with rain and wind gusts. Subways and schools were closed, the floor of the New York Stock Exchange was deserted, and thousands fled inland.

Burger King's profit down amid turnaround push Posted: 29 Oct 2012 09:25 AM PDT Burger King's net income fell 83 percent in the third quarter as the world's second biggest hamburger chain sold off more of its restaurants to franchisees as part of a turnaround push. But the company's adjusted results topped Wall Street expectations.

PayPal to cut 325 full-time jobs Posted: 29 Oct 2012 09:22 AM PDT PayPal says it is cutting 325 full-time jobs in a move to streamline the business.

Storm leads companies to postpone earnings reports Posted: 29 Oct 2012 09:22 AM PDT A number of major U.S. companies postponed quarterly earnings reports scheduled for Monday, as Hurricane Sandy barreled into the East Coast and caused the first unplanned shutdown of financial markets since 2001.

Politics puts Italy, Spain back in market focus Posted: 29 Oct 2012 09:12 AM PDT MADRID/ROME (Reuters) - Spanish Prime Minister Mariano Rajoy kept financial markets guessing on Monday over whether he will seek a credit line from the euro zone's rescue fund but said he would do so "when I think it is in the interests of Spain". At a joint news conference after talks in Madrid, Italian Prime Minister Mario Monti said it was vital that the European Central Bank's bond-buying program to support troubled states be activated, a strong hint that Spain should take the plunge, since he also said Italy did not need a bailout. ...

Merkel faces growing lawmaker rebellion over aid to Greece Posted: 29 Oct 2012 09:11 AM PDT BERLIN (Reuters) - A growing number of lawmakers are threatening to dent German Chancellor Angela Merkel's authority a year before an election by rebelling in a Bundestag vote on help for near-bankrupt Greece. Greece's international creditors are due to announce concessions next month likely to include an additional two years for Athens to implement its austerity targets and reduce its debt pile, resulting in additional costs of billions of euros. Any such changes must be voted on by German lawmakers. ...

US consumer spending rose 0.8 percent in September Posted: 29 Oct 2012 09:05 AM PDT Americans increased their spending in September at twice the rate that their income grew, a sign of confidence in the economy. Still, consumers made up the difference by saving less for a third straight month, a troubling trend.

Greek banks to be recapitalized partly via shares Posted: 29 Oct 2012 09:04 AM PDT ATHENS (Reuters) - Greek banks will have to issue shares to meet more than half of a 9 percent capital adequacy requirement to be set as part of their recapitalization, sources said, in a move that could help them avoid nationalization. The banks, whose capital base was almost wiped out by a combination of huge bond swap writedowns and rising loan impairments amid a deep five-year recession, will raise the rest through convertible bonds. Greece and its international lenders have earmarked money from the country's 130 billion euro ($168 billion) bailout to recapitalize viable banks. ...

Greek publisher in court over Swiss bank names Posted: 29 Oct 2012 09:03 AM PDT A Greek publisher appeared in court Monday following the publication in his magazine of a list of the names of more than 2,000 Greek residents with Swiss bank accounts, a case that has caused political controversy during the country's economic crisis.

PayPal to cut about 325 jobs in major reorganization Posted: 29 Oct 2012 08:57 AM PDT SAN FRANCISCO (Reuters) - PayPal is cutting about 325 jobs as part of a major reorganization by its new president, David Marcus, designed to regain an innovative edge and head off rising competition. PayPal, the online payment pioneer owned by eBay Inc , said on Monday the full-time jobs would be eliminated as it combines nine product-development groups into one. The company is also cutting about 120 contractors. EBay announced a $15 million pre-tax restructuring charge, to be recorded in its fourth quarter, related to the job reductions. ...

S.Africa stocks end higher, markets brace for storm Posted: 29 Oct 2012 08:56 AM PDT JOHANNESBURG (Reuters) - South African stocks ended slightly higher on Monday after petrochemicals giant Sasol rose on a weaker rand and a slightly firmer crude oil price and as earnings forecasts lifted other shares. Trade volumes, however, remained low, as traders were watching the impact of a huge and potentially damaging hurricane hitting the U.S. East Coast. U.S. stock markets were shut in the first weather-related closure for 27 years and they may close again on Tuesday. ...

UPS sees delivery of 527 million holiday packages Posted: 29 Oct 2012 08:55 AM PDT UPS expects to deliver 527 million packages between Thanksgiving and Christmas this year, surpassing last year's record high by 10 percent.

Stock markets unlikely to open Tuesday: exchange official Posted: 29 Oct 2012 09:43 AM PDT NEW YORK (Reuters) - Equity markets are unlikely to open on Tuesday as Hurricane Sandy bears down on the New York area, a senior exchange official at one of the major exchanges told Reuters on Monday. A decision has not been made yet, but with the hurricane closing in and metro-area transit systems closed, it is highly likely that U.S. equity trading on the New York Stock Exchange and Nasdaq Stock Markets will remain closed. Industry officials were expected to discuss whether to open or not early Monday afternoon, the source said. ...

S.Africa's Nedbank lifted by higher-risk lending Posted: 29 Oct 2012 08:51 AM PDT JOHANNESBURG (Reuters) - Nedbank Group announced on Monday that it is on track for double-digit earnings growth this year, the latest South African bank to benefit from a rise in higher-risk lending. Hampered by weak corporate demand for credit, the country's big banks have ramped up unsecured lending - the profitable but riskier practice of giving loans that are not backed by collateral. ...

Canada says GDP growth holding, but tax revenues off Posted: 29 Oct 2012 08:50 AM PDT OTTAWA (Reuters) - Canada expects to maintain real economic growth of at least 2 percent through 2017, but lower commodity prices will cause government revenues to be a little lower than expected, Finance Minister Jim Flaherty said on Monday. The consensus of private sector forecasts, surveyed by his department, is for 2.1 percent growth this year, unchanged from the consensus forecast in the March budget. For 2013, the forecast is cut to 2.0 percent from 2.4 percent, but for 2014 it rises to 2.5 percent from 2.4 percent. ...

You are subscribed to email updates from Business News Headlines - Yahoo! News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610