Business News: Insurance companies prepare for Sandy

(CBS) - As tens of millions of Americans prepare for Hurricane Sandy's arrival, so are insurance companies. Teams are gathering farther inland, ready to begin answering claims once the massive storm clears out. But experts predict a large chunk of damage claims will be a result of flooding, which isn't generally covered by homeowners' policies.

(CBS) - Swiss banking giant UBS is reportedly expected to announce as many as 10-thousand job cuts this week. The financial times says the job losses would represent a sixth of the bank's global workforce. Analysts expect the layoffs to be announced Tuesday, when UBS releases its quarterly earnings report.

(CBS) - It's another big week for tech gadgets. Microsoft is expected to make an announcement on its Windows phone system. Google is holding an event regarding its Android system for mobile devices. Barnes & Noble will start shipping new Nook devices and Apple's new iPads, including a smaller one, will hit store shelves.

(CBS) - A big peanut harvest could result in cheaper peanut butter at the grocery store. Last year's drought prompted farmers to plant more peanuts. Good weather this year has resulted in a bumper crop. Experts say that means peanut butter prices could fall 10 percent or more.


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