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UBS facing new Hong Kong rate fiddling probe - CityAM S&P cut Cyprus credit rating to CCC+ Trafigura, the commodities trader earns $1bn twice in a row - Financial Times BP and Rosneft plan TNK integration – The Daily Telegraph Tesco has lost its appeal against the OFT for collusion - The Times UK GfK Dec consumer confidence slides to -29 (f/c -25) vs -22 November Chinese ships enter Japanese waters near disputed islands – CNN For the…

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UK RICS Oct house price balance leaps to highest since Dec 2009 or -7 (f/c -15) vs -14 Sep MegaFon is to go ahead with market debut despite concerns raised about the editing of the Wikipedia entry of the Billionaire oligarch behind the deal – The Times Bloomberg is launching an iTunes-style portal for applications to allow external developers to sell software to their 315,000 subscribers -FT Germany investigates UBS clients over alleged tax evasion - FT NYSE Eur…

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US Exchanges are expected to reopen as normal today at 9:30am (ET), following the closure for two days due to hurricane Sandy. The storm has caused considerable destruction and devastation across the North Eastern coast of the US. It is estimated that there has been over 40 deaths and the cost is expected to exceed $10bn. Transportation across the region has come to a standstill as trains and busses were halted and flights grounded to avoid the storm. Sectors to watch are the insurance, indu…

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**US Exchanges will be closed again today due to Hurricane Sandy, this means that Abshire-Smith clients are unable to trade US Indices** Headlines UBS shares rally after announcement of cost cutting , with the loss of 10,000 jobs in the investment bank Direct Line cuts 70 jobs in senior management as part of £100m cost saving plans by 2014 New Look has moved to reassure suppliers over its financial position, following an industry blog stating it was poised to en…

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The NYSE and Nasdaq trading will be halted for trading today, for the first time in 27 years due to Hurricane Sandy. Evacuation orders have been put in place in low lying coastal areas on the North East of the United States due to the risk of flooding. The NYSE has revised its initial release that it was to close physical floor trading, to cease all trading on Monday and possibly Tuesday. Headlines Bank of England’s Spencer Dale has warned that Britain is heading into a sha…

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