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• Analysis: GM badly lags Ford in Europe restructuring
• Facebook's Sandberg sells $7.4 million in stock
• Economists say jobs data to have little impact on U.S. elections: Reuters poll
• Berkshire Hathaway quarterly profit up on rails, energy
• Kraft Foods approves $650 million restructuring plan
• Rwanda's national carrier plans fleet expansion, listing
• MetLife to sell mortgage servicing portfolio to JPMorgan
• Best Buy reschedules analyst day postponed by Hurricane Sandy
• Canada to take more time on CNOOC takeover
• Solid job growth in last reading before election
• Merkel: Euro debt crisis will at least 5 years
• US stocks waterlogged by Sandy's mounting costs
• MetLife to sell business unit to JPMorgan Chase
• Fuel shortage means gridlock in lines for gasoline
• When working from home goes wrong
• Corporations just beginning to tally Sandy's costs
• Battered by storm, Staten Islanders feel forgotten
• 4 on Japan nuclear safety team took utility money
• Merkel: Euro debt crisis will last 5 years or more
• Mood of the Nation: Set back by the housing bust
• Vale partner says Guinea seeks to seize iron ore rights
• Better off 4 years later? A mixed bag of answers
• Canada extends review of CNOOC-Nexen deal to December 10
• Japan nuclear safety team took utility money
• Myanmar banks sign deal with Visa
• Guinea and UAE sign bauxite supply deal
• Vimpelcom hires StanChart to handle asset sales-sources
• Alan Murray to leave the WSJ for Pew Research Center

Analysis: GM badly lags Ford in Europe restructuring Posted: 02 Nov 2012 10:48 PM PDT PARIS/DETROIT (Reuters) - Ford Motor Co, which clung to the road with a timely swerve before the 2009 crisis that bankrupted General Motors Co, may now be pulling a similar stunt in Europe. The Dearborn, Michigan-based automaker is scrapping three European plants and thousands of jobs while its rival appears to be stuck on the starting grid. The speed of Ford's restructuring plan - and the comparatively slow pace of GM's - has become more important during a protracted slump in Europe's auto market, with sales down another 7.2 percent so far this year. ...

Facebook's Sandberg sells $7.4 million in stock Posted: 02 Nov 2012 04:43 PM PDT SAN FRANCISCO (Reuters) - Facebook Inc Chief Operating Officer Sheryl Sandberg and two other executives at the social networking company sold millions of dollars worth of stock this week as restrictions on insider trading expired. Sandberg netted about $7.44 million by selling roughly 353,000 Facebook shares on Wednesday, according to a filing with the SEC on Friday. Sandberg still owns roughly 20 million vested shares of Facebook stock, including shares held in her trusts, according to the filing. ...

Economists say jobs data to have little impact on U.S. elections: Reuters poll Posted: 02 Nov 2012 04:08 PM PDT NEW YORK (Reuters) - Stronger-than-expected hiring by U.S. employers in October and a small increase in the jobless rate will have a neutral or insignificant impact on U.S. presidential elections next week, according to most economists surveyed in a Reuters poll on Friday. Twenty-four economists said the payrolls data would have a "neutral" impact on next Tuesday's elections, while 15 said the data would have an insignificant impact. ...

Berkshire Hathaway quarterly profit up on rails, energy Posted: 02 Nov 2012 03:07 PM PDT (Reuters) - Berkshire Hathaway Inc , the conglomerate run by billionaire Warren Buffett, on Friday said its third-quarter profit rose as strength in the railroad and utility businesses, as well as investment gains, offset weaker results in the insurance units. Berkshire earned $3.92 billion, or $2,373 per Class A share, compared with $2.28 billion, or $1,380 per share, a year earlier. Book value, Buffett's preferred measure of the company's worth, rose to $111,718 per Class A share, up 11.9 percent since year end. ...

Kraft Foods approves $650 million restructuring plan Posted: 02 Nov 2012 03:25 PM PDT (Reuters) - Kraft Foods Group Inc , which sells Planters peanuts, Oscar Mayer lunch meat and Velveeta cheese, said it approved a $650 million restructuring plan related to its spin-off from Kraft Foods Inc in October. The company said the restructuring cost involves severance related to the spin-off, asset disposals and other one-time expenses. Kraft Foods Group said about half of the total restructuring cost is expected to result in cash expenditures. In addition to the restructuring, the company also approved related capital expenditures of $200 million. ...

Rwanda's national carrier plans fleet expansion, listing Posted: 03 Nov 2012 03:28 AM PDT KIGALI (Reuters) - Rwanda's national carrier plans to more than double its aircraft fleet in the next five years, and to list on the country's stock exchange once it turns profitable, a senior company executive said. At present Rwandair has a fleet of seven aircraft. It plans to increase this to 17 planes over the next five years, which would allow the airline to expand its route network to Europe, China and India, Chief Executive Officer John Mirenge told Reuters in an interview late on Friday. ...

MetLife to sell mortgage servicing portfolio to JPMorgan Posted: 02 Nov 2012 03:05 PM PDT (Reuters) - MetLife Inc , the largest U.S. life insurer, said it will sell MetLife Bank's mortgage servicing portfolio to a unit of JPMorgan Chase & Co for an undisclosed amount, as it looks to exit its bank holding structure. The $70 billion servicing portfolio will increase JPMorganChase Bank's $1.1 trillion servicing business by more than 5 percent, MetLife said in a statement. MetLife said in a regulatory filing last Wednesday that it had begun exploring the sale of MetLife Bank's forward mortgage servicing assets and operation, and was reporting the business as divested. http://link. ...

Best Buy reschedules analyst day postponed by Hurricane Sandy Posted: 02 Nov 2012 04:42 PM PDT (Reuters) - Best Buy Co Inc on Friday rescheduled its analyst day for November 13 in New York, after postponing it because of Hurricane Sandy. The meeting, seen as Chief Executive Hubert Joly's opportunity to tell investors how he plans to turn the company around, had originally been scheduled for Thursday, November 1. Last week, the consumer electronics retailer warned that third-quarter earnings and same-store sales would fall, and said its U.S. business president would exit at the end of the current fiscal year as part of a management restructuring. ...

Canada to take more time on CNOOC takeover Posted: 02 Nov 2012 09:40 PM PDT Canada is taking more time to review Chinese state-owned CNOOC's takeover bid for Canadian oil and gas producer Nexen. It would be China's biggest overseas energy acquisition.

Solid job growth in last reading before election Posted: 02 Nov 2012 03:23 PM PDT The United States added a solid 171,000 jobs in October, and more than a half-million Americans joined the work force, the latest signs that the uneven economic recovery is gaining strength once again.

Merkel: Euro debt crisis will at least 5 years Posted: 03 Nov 2012 07:47 AM PDT German Chancellor Angela Merkel says Europe's sovereign debt crisis will last at least five more years.

US stocks waterlogged by Sandy's mounting costs Posted: 02 Nov 2012 01:45 PM PDT Waterlogged from Superstorm Sandy and unmoved by a solid October jobs report, U.S. stocks fell sharply Friday. The Dow Jones industrial average dropped 139 points as details about the storm's costs began to trickle out.

MetLife to sell business unit to JPMorgan Chase Posted: 02 Nov 2012 02:36 PM PDT MetLife Inc. is selling its $70 billion mortgage servicing business to JPMorgan Chase & Co. for an undisclosed price.

Fuel shortage means gridlock in lines for gasoline Posted: 02 Nov 2012 05:38 PM PDT When it came to fuel supplies and patience, the New York metro area was running close to empty Friday.

When working from home goes wrong Posted: 02 Nov 2012 03:32 PM PDT Nearly every office dweller fantasizes about the joys of working from home: Dressing in PJs instead of suits. Eating from the fridge and not the vending machine. Listening to birds chirp instead of the boss bark.

Corporations just beginning to tally Sandy's costs Posted: 02 Nov 2012 06:03 PM PDT Corporate America is just starting to add up its losses from Superstorm Sandy, expected to be one of the most expensive storms in U.S. history.

Battered by storm, Staten Islanders feel forgotten Posted: 02 Nov 2012 08:13 PM PDT Gazing at her bungalow, swept from its foundation and tossed across the street, Janice Clarkin wondered if help would ever come to this battered island off the coast of Manhattan.

4 on Japan nuclear safety team took utility money Posted: 03 Nov 2012 06:28 AM PDT Four members of a Japanese government team that sets atomic reactor safety standards received funding from utility companies or nuclear manufacturers, raising questions about their neutrality in the wake of last year's tsunami-triggered disaster.

Merkel: Euro debt crisis will last 5 years or more Posted: 03 Nov 2012 08:40 AM PDT German Chancellor Angela Merkel says Europe's sovereign debt crisis will last at least five more years.

Mood of the Nation: Set back by the housing bust Posted: 03 Nov 2012 08:04 AM PDT On the eve of the 2012 elections, The Associated Press interviewed dozens of Americans to try to gauge the economic mood of the nation. People were asked about jobs, housing, gas prices, retirement and other issues. Among them were Amanda Folk and her husband, Chris, both 33, of Billings, Mont. The Folks have endured financial blows since the housing bubble burst five years ago. She's back in school. He's earning less money. They worry that their ability to regain financial security is blocked by corporations and their allies in Washington.

Vale partner says Guinea seeks to seize iron ore rights Posted: 03 Nov 2012 07:36 AM PDT DAKAR/LONDON (Reuters) - The mining arm of Israeli billionaire Beny Steinmetz's business empire has accused the government of Guinea of seeking to "illegally seize" its assets through a probe into how it won rights to mine part of a major iron ore deposit. Privately owned BSG Resources, which has been working in the West African country with Brazilian mining major Vale , confirmed it had received a letter from a government commission alleging improper behavior and graft in its winning of rights to develop blocks in the Simandou region. ...

Better off 4 years later? A mixed bag of answers Posted: 03 Nov 2012 05:50 AM PDT It's a staple of every presidential election, a single question that puts the incumbent's record on trial and asks American voters to be the jurors.

Canada extends review of CNOOC-Nexen deal to December 10 Posted: 03 Nov 2012 03:54 AM PDT (Reuters) - Canada said it has extended its review of a $15.1 billion bid by China's CNOOC Ltd for Canadian energy producer Nexen Inc by a month to December 10. Ottawa is conducting the review to determine whether a takeover by the Chinese state-owned enterprise would bring a "net benefit" to Canada. CNOOC launched China's richest foreign takeover bid in July when it agreed to buy Nexen, whose global portfolios include oil sands and shale gas. "The review period for CNOOC Limited's proposed acquisition of Nexen Inc. ...

Japan nuclear safety team took utility money Posted: 03 Nov 2012 03:53 AM PDT Members of a Japanese government team assigned to set reactor safety measures received funding from utility companies or atomic industry manufacturers, raising questions about the experts' neutrality in the wake of last year's tsunami-triggered nuclear disaster.

Myanmar banks sign deal with Visa Posted: 03 Nov 2012 12:29 AM PDT Officials in Myanmar say three private banks have signed agreements with Visa Inc. to enable international travelers to use credit cards and withdraw cash from ATM machines by January.

Guinea and UAE sign bauxite supply deal Posted: 03 Nov 2012 12:14 AM PDT DUBAI (Reuters) - Compagnie des Bauxites de Guinee (CBG) signed a long-term supply agreement with the United Arab Emirates for the main raw material in aluminium, the Gulf country's state news agency reported late on Friday. "The agreement with Mubadala will make a significant contribution to Guinea's economy by enabling the expansion of CBG to more than 20 million metric tons of bauxite per year," Guinean Mines Minister Mohamed Lamine Fofana was quoted as saying by the Emirates News Agency. ...

Vimpelcom hires StanChart to handle asset sales-sources Posted: 02 Nov 2012 11:57 PM PDT DUBAI/PARIS (Reuters) - Telecoms group Vimpelcom has hired Standard Chartered to advise it on the sale of its businesses in Burundi, Zimbabwe, Central African Republic, Cambodia and Laos, two people familiar with the matter said. New-York listed Vimpelcom wants to focus on its largest markets of Russia and Italy, while reducing its debt, the people said. The units on the block came to Vimpelcom when it bought a 51 percent stake in Egypt-based Orascom Telecom and all of Italy's Wind in 2011 for $6 billion. ...

Alan Murray to leave the WSJ for Pew Research Center Posted: 02 Nov 2012 05:29 PM PDT (Reuters) - Alan Murray, deputy managing editor of the Wall Street Journal, will leave in January to assume the role of president of the Pew Research Center, the center announced on Friday. Murray, 57, is also the Journal's online executive editor. In his new role he will oversee the Pew Research Center's seven projects covering topics ranging from journalism to religion to social trends. "I have watched in the last 30 years as trusted facts have become an endangered species," Murray told Reuters in an interview. ...

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