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• Global shares see modest rise as U.S. storm impact assessed
• Stock markets consider opening on Wednesday
• Hurricane Sandy disrupts Northeast U.S. telecom networks
• Fidelity to brokerage customers: U.S. markets to open Wednesday
• Stock index futures edge lower; cash indexes shut
• Dow Chemical sees fourth-quarter restructuring charge of up to $1.1 billion
• Ford profit beats forecasts on record North America margins
• UBS to cut 10,000 jobs in fixed income retreat
• Air France seeks Airbus compensation for A380 glitches: report
• Home prices climb further in August
• Nuclear plant shuts down unit as storm hits coast
• Swiss bank UBS to cut as many as 10,000 jobs
• BP raises dividend as Q3 profit swells 5 percent
• Streamlining costs dent Deutsche Bank in Q3
• Spain's economy shrinks for 5th quarter in a row
• Japan's rebuilding money spent on unrelated jobs
• Bayer to acquire Schiff; reports Q3 rise in earns
• World stocks up slightly despite US superstorm
• US fine dents Standard Chartered profits
• German unemployment rate steady at 6.5 percent
• TransCanada expects early 2103 decision on Eastern Canada pipe
• Telecoms start checking storm damage
• Barclays suspends bid for Namibia's Bank Windhoek
• Guinness Ghana net profit rose 56 pct in 3-mths to Sept
• Fidelity to brokerage customers: U.S. markets to open Wednesday
• Sandy leaves death, damp and darkness in wake
• Accused UBS rogue trader: "I lost control"
• Japan's rebuilding money spent on unrelated jobs
• Phone companies start checking storm damage
• US home prices rise in August at faster pace
• For travelers, Sandy's aggravation spans globe
• Dow Chemical sees fourth-quarter restructuring charge of up to $1.1 billion
• Global shares see modest rise as U.S. storm impact assessed
• Village Main says production restarts at Tau Lekoa mine
• Stock markets consider opening on Wednesday
• Fiat trims forecasts as European market slides
• Home prices climb further in August
• TSX turns positive as Sandy impact seen limited
• Turkish oil firm Genel to explore in Somalia from 2013
• Murphy Oil says optimistic on Equatorial Guinea PSC

Global shares see modest rise as U.S. storm impact assessed Posted: 30 Oct 2012 08:02 AM PDT LONDON (Reuters) - 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. The monster storm, code-named Sandy, was responsible for at least 15 deaths, left millions without power, and has closed much of New York's financial district. Wall Street shut for a second day, and bond trading was also halted as the focus switched to whether markets would be able to resume activity on the final day of the month on Wednesday, which is key to pricing investment portfolios. ...

Stock markets consider opening on Wednesday Posted: 30 Oct 2012 08:01 AM PDT (Reuters) - Stock exchanges are looking at opening on Wednesday after monster storm Sandy receded from New York, sources said, and the New York Stock Exchange is testing a new plan to help resume trading. U.S. stock markets were closed on Monday and Tuesday. At least some market participants believe that opening on Wednesday is critical, because many traders need prices to value their portfolios at the end of the month. The bond markets are also closed on Tuesday, with traders aiming to reopen on Wednesday. JPMorgan Chase & Co , the largest U.S. ...

Hurricane Sandy disrupts Northeast U.S. telecom networks Posted: 30 Oct 2012 06:39 AM PDT NEW YORK (Reuters) - Power outages and flooding caused by Hurricane Sandy disrupted telecommunications services on Tuesday and coverage was spotty for everything from cellphones and home telephones to Internet services in Northeastern states. Verizon Communications said in the early hours of Tuesday that its wireline service was suffering as flooding in its central offices in lower Manhattan affected its back-up generators and batteries. The company said that its engineers were on site during the night and were beginning to assess damage. ...

Fidelity to brokerage customers: U.S. markets to open Wednesday Posted: 30 Oct 2012 08:32 AM PDT (Reuters) - Fidelity Investments, which has one of the largest U.S. online brokerages, told retail customers that it expects U.S. markets to open Wednesday for normal trading. "U.S. markets are expected to open normally on Wednesday October 31," Fidelity said on Tuesday in a message to customers on its brokerage site. "Orders entered since 4:00 pm EST Friday October 26 will be eligible for execution when trading resumes." Fidelity was not immediately available for further comment. (Reporting By Tim McLaughlin)

Stock index futures edge lower; cash indexes shut Posted: 30 Oct 2012 03:10 AM PDT LONDON (Reuters) - U.S. stock index futures traded a touch lower on Tuesday, with cash equity indexes set to remain closed for a second day due to a severe storm hitting the East Coast. Futures for the S&P 500 fell 0.2 percent, Dow Jones futures shed 0.1 percent and contracts on the Nasdaq 100 were down 0.4 percent at 0940 GMT. ...

Dow Chemical sees fourth-quarter restructuring charge of up to $1.1 billion Posted: 30 Oct 2012 08:10 AM PDT (Reuters) - Dow Chemical Co said it will post a fourth-quarter charge of as much as $1.1 billion related to last week's announcement that it will close 20 plants and lay off thousands of workers. The largest U.S. chemical maker said the restructuring program -- its second of 2012 -- was necessary due to dropping demand for its plastics and other products. Dow will record a charge of $900 million to $1.1 billion for the layoffs, plant closures, as well as the write-down of Dow-Kokam LLC, Dow's lithium ion battery joint venture. The disclosure came as part of a filing with the U.S. ...

Ford profit beats forecasts on record North America margins Posted: 30 Oct 2012 06:49 AM PDT DETROIT (Reuters) - Ford Motor Co on Tuesday posted a third-quarter profit that trounced Wall Street forecasts due to higher vehicle prices and record-high profit margins of 12 percent in North America. The No. 2 U.S. automaker posted an operating profit of $2.2 billion, or 40 cents per share, beating the average estimate of 30 cents per share, according to Thomson Reuters I/B/E/S. Worldwide, Ford earned $800 million more in pricing than it did last year. ...

UBS to cut 10,000 jobs in fixed income retreat Posted: 30 Oct 2012 07:10 AM PDT ZURICH (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. Some UBS staffers took to social media to air their frustration after dozens of traders were stopped from entering the bank's London offices on Tuesday. ...

Air France seeks Airbus compensation for A380 glitches: report Posted: 30 Oct 2012 07:19 AM PDT PARIS (Reuters) - Air France-KLM is seeking compensation from Airbus for service disruptions caused by technical glitches affecting its fleet of A380 superjumbo aircraft, French daily Les Echos reported. The carrier wants compensation for the loss of revenue from grounding its fleet as well as inspecting and repairing wing cracks, which have led to delays and flight cancellations, Les Echos said on its website without citing sources. ...

Home prices climb further in August Posted: 30 Oct 2012 07:38 AM PDT NEW YORK (Reuters) - Home prices gained further traction 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. It was the seventh straight month of increases, extending the longest continuous string of gains since prices were boosted by the homebuyer tax credit in 2009 and 2010. ...

Nuclear plant shuts down unit as storm hits coast Posted: 30 Oct 2012 03:40 AM PDT Parts of two nuclear power plant were shut down late Monday and early Tuesday, while another plant — the nation's oldest — was put on alert after waters from Superstorm Sandy rose 6 feet above sea level.

Swiss bank UBS to cut as many as 10,000 jobs Posted: 30 Oct 2012 04:23 AM PDT Swiss banking giant UBS AG is to cut as many as 10,000 employees, or some 15 percent of its staff, to drastically shrink its ailing investment bank.

BP raises dividend as Q3 profit swells 5 percent Posted: 30 Oct 2012 04:49 AM PDT Oil company BP is rewarding long-suffering shareholders with a substantial dividend increase just days after it sold a stake in a Russian joint venture for billions of dollars.

Streamlining costs dent Deutsche Bank in Q3 Posted: 30 Oct 2012 02:24 AM PDT Deutsche Bank saw profits slip 3 percent in the third quarter from a year ago, as higher costs for streamlining its business and from credit writeoffs offset better revenues from investment banking and trading stocks and bonds.

Spain's economy shrinks for 5th quarter in a row Posted: 30 Oct 2012 01:47 AM PDT Official figures show Spain's economy shrank for the fifth quarter in a row.

Japan's rebuilding money spent on unrelated jobs Posted: 30 Oct 2012 08:21 AM PDT About a quarter of the $148 billion budget for reconstruction after Japan's March 2011 tsunami and nuclear disaster has been spent on unrelated projects, including subsidies for a contact lens factory and research whaling.

Bayer to acquire Schiff; reports Q3 rise in earns Posted: 30 Oct 2012 02:50 AM PDT German drug and chemical maker Bayer AG said Tuesday it is buying U.S. vitamin and supplement maker Schiff Nutrition International Inc. for $1.2 billion (€930 million) in a cash deal it hopes will bolster the offerings of its consumer health division.

World stocks up slightly despite US superstorm Posted: 30 Oct 2012 02:16 AM PDT World stock markets treaded upward Tuesday, but trading was largely subdued after a massive storm slammed into New York and forced a drenched and darkened Wall Street to suspend operations for a second day.

US fine dents Standard Chartered profits Posted: 30 Oct 2012 03:31 AM PDT U.K.-based bank Standard Chartered said Tuesday that its operating profit for the first nine months has been badly dented by a settlement with a U.S. authority over alleged sanctions violations.

German unemployment rate steady at 6.5 percent Posted: 30 Oct 2012 03:36 AM PDT The number of unemployed people in Germany dropped only slightly in October over the previous month, leaving the overall jobless rate unchanged at 6.5 percent, official data showed Tuesday.

TransCanada expects early 2103 decision on Eastern Canada pipe Posted: 30 Oct 2012 08:45 AM PDT CALGARY, Alberta (Reuters) - TransCanada Corp said on Tuesday it will make a decision on whether to go ahead with a new oil pipeline from Alberta to eastern Canada by early 2013. The company said the new line, much of which would be part of its existing natural-gas pipeline system converted to oil use, could carry between 500,000 and 1 million barrels per day of oil to eastern Canadian refineries that currently rely on imported oil. The company said the project is technically feasible and it is now talking to potential customers to determine if there is sufficient demand to proceed. ...

Telecoms start checking storm damage Posted: 30 Oct 2012 08:44 AM PDT Phone and cable companies started assessing the damage in the storm-hit areas of the East Coast on Tuesday amid widespread reports of phone outages in flooded areas.

Barclays suspends bid for Namibia's Bank Windhoek Posted: 30 Oct 2012 08:36 AM PDT WINDHOEK (Reuters) - Barclays Plc has temporarily suspended its bid for a stake in Namibia's Bank Windhoek until it completes a process to combine its African businesses with those of Absa Group, Barclays said on Tuesday. The British bank announced in August it would be combining its interests in Botswana, Ghana, Kenya, Tanzania, Uganda, Zambia and Indian Ocean states with Absa, South Africa's third-largest lender.

Guinness Ghana net profit rose 56 pct in 3-mths to Sept Posted: 30 Oct 2012 08:35 AM PDT ACCRA (Reuters) - Guinness Ghana Breweries net profit for the three-month period to the end of September rose 56 percent to 4.690 million cedis, from 3.005 million cedis during the same period a year ago, the company said on Tuesday. Net financial charges were down 69 percent to 0.901 million cedis compared with 2.951 million cedis for the same period last year, it said in a filing with the Ghana Stock Exchange. Net turnover rose nearly 17 percent to 67.273 million from 57.522 million cedis, while earnings per share rose to 0.022 cedis from 0.014 cedis.

Fidelity to brokerage customers: U.S. markets to open Wednesday Posted: 30 Oct 2012 08:32 AM PDT (Reuters) - Fidelity Investments, which has one of the largest U.S. online brokerages, told retail customers that it expects U.S. markets to open Wednesday for normal trading. "U.S. markets are expected to open normally on Wednesday October 31," Fidelity said on Tuesday in a message to customers on its brokerage site. "Orders entered since 4:00 pm EST Friday October 26 will be eligible for execution when trading resumes." Fidelity was not immediately available for further comment. (Reporting By Tim McLaughlin)

Sandy leaves death, damp and darkness in wake Posted: 30 Oct 2012 08:33 AM PDT As Superstorm Sandy marched slowly inland, millions along the East Coast awoke Tuesday without power or mass transit, with huge swaths of the nation's largest city unusually vacant and dark.

Accused UBS rogue trader: "I lost control" Posted: 30 Oct 2012 08:23 AM PDT LONDON (Reuters) - 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. Adoboli also attacked the culture of investment banks, arguing that compliance rules were "aspirational" and that traders knew they had to bend rules to achieve the goals set by senior management. ...

Japan's rebuilding money spent on unrelated jobs Posted: 30 Oct 2012 08:21 AM PDT About a quarter of the $148 billion budget for reconstruction after Japan's March 2011 tsunami and nuclear disaster has been spent on unrelated projects, including subsidies for a contact lens factory and research whaling.

Phone companies start checking storm damage Posted: 30 Oct 2012 08:13 AM PDT Phone and cable companies are still assessing the damage in the storm-hit areas of the East Coast amid widespread reports of phone outages in flooded areas.

US home prices rise in August at faster pace Posted: 30 Oct 2012 08:12 AM PDT Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery.

For travelers, Sandy's aggravation spans globe Posted: 30 Oct 2012 08:12 AM PDT Superstorm Sandy grounded more than 15,000 flights across the Northeast and the globe, and it could be days before some passengers can get where they're going.

Dow Chemical sees fourth-quarter restructuring charge of up to $1.1 billion Posted: 30 Oct 2012 08:10 AM PDT (Reuters) - Dow Chemical Co said it will post a fourth-quarter charge of as much as $1.1 billion related to last week's announcement that it will close 20 plants and lay off thousands of workers. The largest U.S. chemical maker said the restructuring program -- its second of 2012 -- was necessary due to dropping demand for its plastics and other products. Dow will record a charge of $900 million to $1.1 billion for the layoffs, plant closures, as well as the write-down of Dow-Kokam LLC, Dow's lithium ion battery joint venture. The disclosure came as part of a filing with the U.S. ...

Global shares see modest rise as U.S. storm impact assessed Posted: 30 Oct 2012 08:02 AM PDT LONDON (Reuters) - 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. The monster storm, code-named Sandy, was responsible for at least 15 deaths, left millions without power, and has closed much of New York's financial district. Wall Street shut for a second day, and bond trading was also halted as the focus switched to whether markets would be able to resume activity on the final day of the month on Wednesday, which is key to pricing investment portfolios. ...

Village Main says production restarts at Tau Lekoa mine Posted: 30 Oct 2012 08:01 AM PDT JOHANNESBURG (Reuters) - Junior South African gold producer Village Main Reef said on Tuesday production had resumed at its Tau Lekoa mine and output levels there were expected to normalise in the next few days. Some 1,700 miners at the gold producer downed tools in September in one of the many wildcat strikes that have hit South Africa's mining sector in the past few months. Village Main Reef said the work stoppage was unlikely to have a material effect on output.

Stock markets consider opening on Wednesday Posted: 30 Oct 2012 08:01 AM PDT (Reuters) - Stock exchanges are looking at opening on Wednesday after monster storm Sandy receded from New York, sources said, and the New York Stock Exchange is testing a new plan to help resume trading. U.S. stock markets were closed on Monday and Tuesday. At least some market participants believe that opening on Wednesday is critical, because many traders need prices to value their portfolios at the end of the month. The bond markets are also closed on Tuesday, with traders aiming to reopen on Wednesday. JPMorgan Chase & Co , the largest U.S. ...

Fiat trims forecasts as European market slides Posted: 30 Oct 2012 07:41 AM PDT Fiat, the Italian carmaker that controls Chrysler, trimmed its 2012 forecasts on Tuesday under expectations that the European car market will remain weak into 2014.

Home prices climb further in August Posted: 30 Oct 2012 07:38 AM PDT NEW YORK (Reuters) - Home prices gained further traction 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. It was the seventh straight month of increases, extending the longest continuous string of gains since prices were boosted by the homebuyer tax credit in 2009 and 2010. ...

TSX turns positive as Sandy impact seen limited Posted: 30 Oct 2012 07:31 AM PDT (Reuters) - Toronto's main stock index turned positive on Tuesday, after opening lower, as the impact of super storm Sandy appeared to be less devastating than previously feared. The Toronto Stock Exchange's S&P/TSX composite index was up 4.05 points, 0.03 percent, at 12,316.80 in mid-morning trade. (Reporting By S. John Tilak; Editing by Jeffrey Hodgson)

Turkish oil firm Genel to explore in Somalia from 2013 Posted: 30 Oct 2012 07:26 AM PDT NAIROBI (Reuters) - Turkish oil and gas company Genel Energy Plc plans to conduct seismic work in northwestern Somalia early next year and drill its first well in the second quarter of 2014 and another well in 2015, company officials said. The London-listed explorer said in August it had the rights to two blocks, Block 13 and Block 10B, in the country's semi-autonomous Somaliland region. The area shares the same geological structure with oil producer Yemen and could have 1 billion barrels of oil, the company said. ...

Murphy Oil says optimistic on Equatorial Guinea PSC Posted: 30 Oct 2012 07:25 AM PDT CAPE TOWN (Reuters) - U.S.-based Murphy Oil Corp is optimistic it could finalise an offshore production sharing contract (PSC) with Equatorial Guinea by early 2013, a senior official said on Tuesday. Murphy Oil, the operator with a 40 percent stake, was one of four companies to sign an initial agreement with the Ministry of Mines, Industry and Energy in June for blocks J-14, J-15, K-14 and K-15 offshore of Rio Muni in the west African country. Vanco Oil and Gas, Dana Petroleum and the national oil company GEPetrol were the other signatories. ...

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