The Week Unpeeled
Frankenstorm clearly dominated headlines on all news angles the past few days — business, politics, consumer and even weather — and is only slowly making its way in the UK and Europe (Actually, more news here on the tsunami in Hawaii than Sandy at this point.) This is when the Weather Channel becomes mainstream.
Storms Brewing Elsewhere:
- Barclays new Chairman following bank shakeup is expected to “redesign” non-exec board members;
- UBS is planning another overhaul, which could lead to an additional 10,000 job cuts in the coming years;
- US GDP grew 2 percent in the third quarter, its 13 consecutive quarter of growth, albeit at slow rates;
- The UK GDP, meanwhile, grew at a surprising 1 pct rate in the same period, surprising many and officially lifting the economy from its double-dip recession;
- The Dow suffered a pretty bad week despite a slight uptick on Friday, losing 236 points to end at 13,107, battered by weak earnings and expectations for more of the same;
- Bertelsmann and Pearson said they are planning to merge units Random House and Penguin to create publishing giant; and
- Michelangelo's masterpiece at The Sistine Chapel turns 500 this week.