NEW YORK — The New York Stock Exchange and other U.S. equity markets will reopen for regular trading today after being shut for two days because of Hurricane Sandy.
The Big Board said Tuesday that its building and trading floor are operational and that normal trading will resume at the usual starting time of 9:30 a.m. Nasdaq also said it will resume trading.
Some publicly traded companies delayed their earnings releases because of the storm, including South Carolina-based companies Blackbaud Inc. and Scana Corp.
WASHINGTON — 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.
The Standard & Poor’s/Case Shiller index reported Tuesday that national home prices increased 2 percent in August compared with the same month a year ago, the third straight increase and a faster pace than in July.
The report also said that prices rose in August from July in 19 of the 20 cities tracked by the index. Prices had risen in all 20 cities in the previous three months.
DEARBORN, Mich. — Europe may have lost its appetite for new cars, but buyers in America and China propelled Ford to a better-than-expected profit in the third quarter.
Ford earned $1.63 billion, down only slightly from a year earlier, despite lower worldwide sales and bigger European losses.
Ford said Tuesday its per-share net income was unchanged at 41 cents. Excluding one-time items such as severance payouts, Ford earned 40 cents per share, beating Wall Street’s forecast of 30 cents, according to FactSet.
GENEVA — Scarred by scandals and losses, Swiss bank UBS unveiled Tuesday a plan to overhaul its global operations that will see it cut thousands of jobs as it drops risky trading activities and restructures its investment banking unit.
Switzerland’s biggest bank has for years been trying to reshape its business and clean up its image as it tries to recover from a damaging U.S. tax-evasion dispute, a scandal over unauthorized trades and a slew of bad investments.
UBS AG will cut 10,000 jobs, on top of 3,500 shed last year, as it drops out of trading in fixed income and rejiggers its investment banking.
OMAHA, Neb. — Warren Buffett’s company said Tuesday it is buying the Prudential and Real Living real estate franchise and launching a new brokerage brand for those agents.
Berkshire Hathaway’s real estate unit is acquiring the network from Brookfield Asset Management. Berkshire’s HomeServices of America and Brookfield will launch Berkshire Hathaway HomeServices next year and begin switching agents to the new firm.
Financial terms of the deal weren’t disclosed, but Berkshire’s HomeServices of America will be the majority owner.
Staff and wire reports