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| Seekers for top U.S. job await payroll fallout Sunday, Oct 28, 2012 12:26 PM PDT LONDON (Reuters) - The last employment report before the U.S. presidential election is likely to have something for everyone - for those bullish and bearish on the economy and for Barack Obama and Mitt Romney. Non-farm payrolls in October are forecast to have risen 124,000, barely more than September's 114,000 gain, according to 78 economists polled by Reuters. The unemployment rate probably edged back up to 7.9 percent after falling to 7.8 percent from 8.1 percent last month. The figures are due on Friday. ... Full Story | Top |
| U.S. Congress may face another debt-limit showdown in 2013 Sunday, Oct 28, 2012 11:39 AM PDT WASHINGTON (Reuters) - A U.S. debt-ceiling increase could be headed for a Wall Street-rattling showdown in 2013 if Congress, as expected, shuns a quick and easy fix at the end of this year in favor of another round of last-minute brinkmanship. Regardless of who wins the November 6 elections, many congressional aides and Capitol Hill observers are predicting that lawmakers will go right up to the deadline - probably around mid-February or early March - before increasing the $16.4 trillion limit on borrowing that is nearly exhausted. ... Full Story | Top |
| Former UK pop star Gary Glitter held in Savile probe Sunday, Oct 28, 2012 11:16 AM PDT  LONDON (Reuters) - British police arrested convicted sex offender and former pop star Gary Glitter on Sunday as part of an investigation into allegations of child sex abuse by the late BBC presenter Jimmy Savile, media said. Glitter was released on bail some 10 hours later. But the arrest - the first to be reported in the case - widened a scandal that has already damaged the reputation of the publicly-funded BBC and the legacy of Savile, a former DJ who was one of the broadcaster's top show hosts and a prolific charity fundraiser. ... Full Story | Top |
| Opel restructuring talks could last into 2013: union Sunday, Oct 28, 2012 11:12 AM PDT  HAMBURG (Reuters) - General Motors' loss-making unit Opel may need between two and three more months to reach a deal with German unions on a restructuring plan that could see thousands of job cuts and the closure of its Bochum factory in 2017, a union spokeswoman said. Management of Ruesselsheim-based Opel and workers had agreed on Friday to extend a previous October 26 deadline for the negotiations which are being conducted on the basis that all four German plants will be protected from closure through 2016. ... Full Story | Top |
| Wall Street makes plans to open Monday even as Sandy bears down Sunday, Oct 28, 2012 10:55 AM PDT  NEW YORK (Reuters) - U.S. stock exchanges and Wall Street banks are sending employees into Manhattan on Sunday to stay in hotels and coworkers' homes, as markets prepare to open for business on Monday even as Hurricane Sandy brings public transportation to a halt. Hurricane Sandy is expected to slam into the East Coast on Monday night, bringing torrential rains, high winds, severe flooding and power outages, forecasters said. The rare "super storm," created by an Arctic jetstream wrapping itself around a tropical storm, could be the biggest to hit the U.S. mainland. ... Full Story | Top |
| Miners take "rail-veyors" and robots to automated future Sunday, Oct 28, 2012 10:18 AM PDT SUDBURY, Ontario (Reuters) - In an office trailer parked outside a mine shaft in northern Ontario, operator Carolyn St-Jean leans back in her chair and monitors a machine loading nickel-rich ore into rail cars deep underground. Once filled, the automated train will snake through a series of narrow tunnels, emerge from a rocky outcropping, then loop past St-Jean's window and dump its payload for sorting. Vale SA, the Brazilian company that owns the mine near this nickel-rich Canadian town, has spent nearly $50 million in two years to install and test the "rail-veyor. ... Full Story | Top |
| Canadian workers on strike at Lear plant, a GM supplier Sunday, Oct 28, 2012 10:12 AM PDT  TORONTO (Reuters) - Workers at Lear Corp's Whitby, Ontario plant, which supplies car seats to General Motors Co in Canada, went on strike on Sunday with employees and management far apart on a range of issues, the Canadian Auto Workers union said. Picket lines went up at midnight after talks collapsed on Saturday, according to the union, which represents some 400 workers at the plant. The union said the company was asking for "deep concessions" in the contract. The Whitby factory makes seats for vehicles at the GM plant in Oshawa, Ontario. ... Full Story | Top |
| ADVISORY: UBS Singapore traders story withdrawn Sunday, Oct 28, 2012 09:39 AM PDT Please be advised that an October 24, 2012 story saying UBS AG has suspended two traders in Singapore for possible manipulation of interbank lending rates is wrong and has been withdrawn. One of the traders named, Jeffrey Tay, said he had not been suspended, but had resigned. The second, Prakant Sood, said that he is employed by the bank and has never been involved in U.S. dollar Libor trading, or trading for any other interbank lending at UBS. He did not comment on whether he had been suspended. ... Full Story | Top |
| Daily Mail in talks on future of regional titles Sunday, Oct 28, 2012 09:36 AM PDT LONDON (Reuters) - The owner of Britain's Daily Mail newspaper is in talks over the future of its Northcliffe Media regional newspaper division, the group said on Sunday, following reports of a planned sale. The Sunday Times said earlier that the Daily Mail and General Trust (DMGT) was in negotiations to sell the local newspaper division to David Montgomery - a former chief executive of the Mirror Group of newspapers, now Trinity Mirror - in a deal that would value the titles at around 110 million pounds ($180 million). ... Full Story | Top |
| BMW could endure sales slump without losses -magazine Sunday, Oct 28, 2012 09:33 AM PDT BERLIN (Reuters) - Germany's BMW could endure a 30 percent slump in sales without posting losses or having to lay off staff thanks to an anti-crisis package agreed between staff and management, Der Spiegel reported on Sunday. The deal, agreed with employees last month, allows the luxury car maker to scrap shifts, enforce staff holidays during downturns and remove limits to overtime work to build up cushions for possible crises, the magazine said. "Our agreement with workers (of late September) provides for a whole bunch of flexibilisation measures," a BMW spokesman told Reuters. ... Full Story | Top |
| Wall Street Week Ahead: Jobs data, election may overshadow earnings Sunday, Oct 28, 2012 08:33 AM PDT  NEW YORK (Reuters) - Earnings season may be only half over, but the focus on profits should subside this week as investors turn their attention to the coming election and Friday's jobs data - the last major economic indicator before the November 6 contest. More bellwether companies are set to report results in what will be another "peak week" of the earnings season. Such a flurry of numbers normally holds Wall Street's attention, and it can lead to market swings. ... Full Story | Top |
| Greek editor arrested over list of Swiss accounts Sunday, Oct 28, 2012 08:22 AM PDT ATHENS (Reuters) - Greek police arrested the editor of a weekly magazine for publishing a list of more than 2,000 names of wealthy Greeks who have placed money in Swiss bank accounts, police said on Sunday. The so-called "Lagarde List" - given to Greece by French authorities in 2010 with names to be probed for possible tax evasion - has been a topic of heated speculation in the Greek media. It is named after International Monetary Fund chief Christine Lagarde, who was French finance minister when the list was handed over. ... Full Story | Top |
| NYSE still planning Monday morning open Sunday, Oct 28, 2012 08:20 AM PDT  (Reuters) - The New York Stock Exchange will open on Monday morning as usual, a spokesman for the stock exchange said after officials announced plans to close all area public transportation at 7 p.m. EDT to prepare for Hurricane Sandy. "We continue to monitor the situation and to communicate with government officials, regulators, and markets participants," NYSE spokesman Rich Adamonis said. (Reporting By John McCrank; Editing by Maureen Bavdek) Full Story | Top |
| Global growth could lift TSX out of autumn lull Sunday, Oct 28, 2012 07:35 AM PDT TORONTO (Reuters) - Promising global economic news could lift Canadian stock prices out of their autumn lull to 2012 highs by the end of the year, offsetting tepid U.S. corporate results and modest earnings expectations at home. Signs that China's growth slowdown has bottomed and Europe's debt crisis may be contained, combined with a U.S. housing market showing signs of life, could propel Toronto's resource-heavy stock market higher, strategists and fund managers said. ... Full Story | Top |
| News Corp eyes cash bid for Penguin: paper Sunday, Oct 28, 2012 06:50 AM PDT  LONDON (Reuters) - Rupert Murdoch's News Corp has indicated it will make a "substantial cash offer" for media conglomerate Pearson's Penguin Group, joining the race for the book publisher, the Sunday Times reported. In an unsourced report, the paper said the bid could total around 1 billion pounds ($1.6 billion) and could scupper plans to tie Penguin with Random House, owned by Germany's Bertelsmann. News Corp owns book publisher HarperCollins. ... Full Story | Top |
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