Business Today: Global shares fall as growth fears mount, Wall Street closes

		Click to View in Browser 10/29/2012 Global shares fall as growth fears mount, Wall Street closes LONDON (Reuters) - World share and commodity prices fell on Monday as a recent run of downbeat corporate earnings casts a shadow over the outlook for growth and markets braced for the impact of a major U.S. hurricane. Consumer spending rises strongly in September WASHINGTON (Reuters) - Consumer spending rose solidly in September as households stepped up purchases on automobiles and a range of other goods, setting up a firmer base for consumption this quarter. Stock futures lower on storm, Europe: cash markets closed NEW YORK (Reuters) - Stock index futures fell on Monday as a huge and potentially damaging hurricane was expected to hit the U.S. East Coast later in the day, and traders eyed renewed uncertainty in Europe that hit bonds in peripheral euro zone nations. Politics puts Italy, Spain back in market focus MADRID/ROME (Reuters) - Italian political turmoil and Spanish hesitancy over seeking euro zone assistance put the two countries on the front line of the currency area's debt crisis back under market pressure on Monday as their leaders met in Madrid. Vimpelcom set to sell African, Asian businesses: FT MOSCOW (Reuters) - Telecoms group Vimpelcom is set to sell a number of businesses in Asia and Africa to focus on its core markets such as Russia and Italy, the Financial Times reported on Monday. Nokia unveils new Lumia 822 for Verizon Wireless HELSINKI (Reuters) - Nokia said that U.S. mobile phone provider Verizon Wireless will begin selling its new Lumia smartphones this autumn, helping it to expand its presence in the United States. UBS shares jump on expected radical overhaul ZURICH (Reuters) - Shares in UBS soared on Monday after media reports that the Swiss bank will announce it is cutting up to 10,000 jobs as it takes the knife to its investment banking operations - particularly fixed income. Analysis: Long-term battle for euro hinges on growth reforms BRUSSELS (Reuters) - Europe has won the immediate battle to save the euro, but the war to make the single currency sustainable in the long run has only just begun. Behavioral economics taps power of persuasion for tax compliance (Reuters) - Can peer pressure make delinquent taxpayers pony up what they owe the government? Stock markets closed as storm hobbles New York NEW YORK (Reuters) - U.S. stock and options markets will be closed on Monday, and possibly Tuesday, as regulators, exchanges and brokers worry about the integrity of markets and the safety of employees in the face of Hurricane Sandy. Related Video Reuters Today: Sandy shuts markets, businesses, schools Daily digit: Hong Kong slaps 15% tax on foreign home buyers Economic News Consumers drive growth as businesses hold back U.S. to release spending data despite government closure A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend